System: None
User: 
    Consider you are a fundamental stock analyser whose task is to analyse the given text extracted from a pdf of the financial result of a company
    and summarize the text to extract as much quantitative informations which are useful in analysing the trend of stock in market.

    Take care of the following points when extracting:
    - Pay attention to all the numerical data.
    - Summarize the text involving all numerical information.
    - What does that numerical quantity represent in the text? Give a brief summary around it.
    - Do not miss any relevant numerical information

    Analyse the text to determine:
    - the financial year and quarter. In India the Financial Year is from 1 April of current year to 1 April of next year.
    - the profit numerically as well as profit growth percentage.
    - the asset worth and percentage change in asset value (whether increase or decrease)
    - the GNPA if mentioned and its growth.
    - the analysis on the basis of stock trend if mentioned in the text.
    - any other important financial information which may impact the stock price of the given stock.

    Now summarize the following text:
       
  
 
Date of submission: October 31, 2024 
 
To,                
The Secretary 
Listing Department 
BSE Limited 
Department of Corporate Services 
Phiroze Jeejeebhoy Towers,  
Dalal Street, Mumbai – 400 001 
Scrip Code – 539551(EQ), 975516 To,                
The Secretary 
Listing Department 
National Stock Exchange of India Limited 
Exchange Plaza, Bandra Kurla Complex  
Mumbai – 400 051 
 
Scrip Code - NH 
 
Dear Sir/Madam, 
 
Sub: Outcome of the Board Meeting held on October 31, 2024 
 
Pursuant to Regulation 30 read with Regulations 33 and 52 of the SEBI (Listing Obligations and 
Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), this is to inform you that the 
Board of Directors of the Company at its meeting held today, i.e. October 31, 2024, inter alia , has 
approved the followings: 
 
1. Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended              
September 30, 2024 together with the Limited Review Report reviewed by the Audit Committee 
at its meeting held on October 30, 2024 and approved by the Board of Directors.  
 
A copy of Unaudited Financial Results (Standalone and Consolidated) for the quarter and  
half year ended September 30, 2024 together with the Limited Review Report thereon is 
enclosed as Annexure-A  for your information.  
 
2. Re-appointment of Dr. Emmanuel Rupert (DIN: 07010883), as the Managing Director and Group 
Chief Executive Officer of the Company for a period of 3 (Three) years with effect from February 
11, 2025, based on the recommendation by the Nomination and Remuneration Committee. The 
re-appointment is subject to approval of the Shareholders of the Company by means of a postal 
ballot through electronic voting. 
 
We would further like to inform that in compliance with BSE Circular No. LIST/COMP/14/2018-
19 and NSE Circular NSE/CML/2018/02 dated June 20, 2018, Dr. Emmanuel Rupert is not 
debarred from holding the office of Director by virtue of any SEBI order or any other such 
authority.  
 
Further, the details as required under SEBI Listing Regulations read with SEBI Circular No. 
SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 along with the brief profile of  
Dr. Emmanuel Rupert is enclosed as Annexure-B  to this letter. 
 
The meeting of the Board of Directors commenced at 04:40 P.M. IST and ended at 07:20 P.M. IST. 
 
This is for your information and records. 
 
Thanking you 
 
Yours faithfully 
For Narayana Hrudayalaya Limited 
 
 
 
 
Sridhar S. 
Group Company Secretary, Legal & Compliance Officer 
 
Encl.: as above Annexure -A
Deloitte 
Haskins & Sells LLP Chartered Accountants 
Prestige Trade Tower, Level 19 
46, Palace Road, High Grounds 
Bengaluru -560 001 
Karnataka, India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE 
FINANCIAL RESULTS 
TO THE BOARD OF DIRECTORS OF 
NARAYANA HRUDAVALAVA LIMITED 
1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of 
NARAVANA HRUDAVALAVA LIMITED ("the Company"), for the quarter and six months ended 
September 30, 2024 ("the Statement"), being submitted by the Company pursuant to the 
requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015, as amended ("the Listing Regulations") . 
2. This Statement, which is the responsibility of the Company's Management and approved by the 
Company's Board of Directors, has been prepared in accordance with the recognition and 
measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial 
Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with 
relevant rules issued thereunder and other accounting principles generally accepted in India and 
in compliance with Regulation 33 and Regulation 52 of the Listing Regulations . Our responsibility 
is to express a conclusion on the Statement based on our review. 
3. We conducted our review of the Statement in accordance with the Standard on Review 
Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the 
Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India 
(!CAI). A review of interim financial information consists of making inquiries, primarily of the 
Company's personnel responsible for financial and accounting matters, and applying analytical 
and other review procedures . A review is substantially less in scope than an audit conducted in 
accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 
2013 and consequently does not enable us to obtain assurance that we would become aware of 
all significant matters that might be identified in an audit. Accordingly , we do not express an 
audit opinion. 
4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our 
attention that causes us to believe that the accompanying Statement , prepared in accordance 
with the recognition and measurement principles laid down in the aforesaid Indian Accounting 
Standard and other accounting principles generally accepted in India, has not disclosed the 
information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBI 
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the 
manner in which it is to be disclosed, or that it contains any material misstatement . 
Place: Bengaluru 
Date: October 31, 2024 
MP/EKP/SM/TG/2024 For DELOITTE HASKINS & SELLS LLP 
Chartered Accountants 
(Firm's Registration No. 117366W/W-100018) 
Monisha Parikh 
Partner 
(Membership No. 47840) 
UDIN: 24047840BKFJAC8493 
R~i:J cr1 .:e lr.diahu !'5 ri ·r.r,:·.: (,~ .... ,tre, -:-c• • ._.er 3, .!.. : • 32'"' ::1co· :,era;,at :Jai:dt '.it::rg. ·=-1p--1--;s:or~ ~aac: ('/lles:.i. Mu:----~3 .1::-0 j~ j_ rv -,hara•fr: !-i 1nd1,=. 
(:I~' r.?r~ fica'. ;:in t,.;o 4...a.8-8737: SI. 
No. 
I. 
2. 
3. 
4. 
5. 
6. 
7. 
8. 
9. 
10. 
ll, 
12, 
13. 
14. 
15. 
16. Narayaoa Hruda)'alaya Limited 
Registered office: No. 258/A, Bommasandr::i Industrial Are.1, Anebl Taluk. Ben~~luru 56009.IJ, furn:tt:1ka, India 
Corporate office: 2nd Floor, No. 261/A, Dommasaudra lntlustdal Are-a~ Hosu..-RQad, Bcnguluru 560099, Karnataka, India 
CIN: L85 I l OhA2000PLC027497 , Website: www.oarayanahealth.org, Email: i11,1estorrelations@.narayanahealth.org 
STATEMENT OF UNAUDITED Sl'ANDALONE FINANCIAL RF.SIJLTS FOR THE QUARTER AND SIX MONTIIS f.Nl>ED 30 SEPTEMBER 2024 
(, in Million, except ocr 3hare data) 
Quarter ended Six monttls ended Year ended 
Particulars 30-Scp-24 30-Jun-l4 30ffSep-23 30-S•i>-24 30-Sci>-23 31-Mar-24 
(Un.11.1dited) (Unaudit~d) (Unaudited) (Unaudited) (Umu,.1dited) (Auclited) 
Income 
(a) Re\'ent.!~ from operations. 9,342.91 8,717.61 8,520.30 I 8,060.52 16,488.27 32,657.02 
(b)Olher income (refer note 4) 132.02 136.45 139.74 268.47 234.21 1,234.05 
Total income 9,474.93 8,854.06 8,660.04 18,328.99 16,722.48 33,891.07 
Expenses 
(a) Purchases of mcdicol consumables, drugs and surgicd insiruments 2.136.65 2,031.1 I 2.036.63 4,167.76 4,009.52 7,897.53 
(b) Changes i;1 inventories of medic.:al Consumables, drugs 3J"l.d surgicol 10.19 73.45 (16.82) 83.64 (62 89) (232.85) 
i!!su-umems • (lncrease) / Decrease 
(c) Emplo~e benefits txpense 1,782.30 1,745.47 1,582.52 3,527.77 3.134.85 6,235.66 
( d) Pmfessional fees to doctors 1,889.27 1.801.22 1,719.44 3,690.49 3,338.37 6,823.93 
(e} Other expenses 1,699.36 1,500.42 1,561.77 3,199.78 3,054.86 5.975.78 
E:icpcns~s bcfor-~ depredation 31\rl amodl!lation, finance costs :tnd 7iil7,77 7,151.67 G,883.54 14,669.44 l3,4i-4.71 26,700,05 
exceptional items 
Earnings b~fore deprcci!ltion and amortisation, finance costs and l,957.l6 1,702.39 1,776.50 3,659.55 3,247.77 7,191.02 
c:xccotional items (1---21 (EBlTDA) 
Finance cost<: 204.52 203.95 131.46 408.47 265.34 542.12 
Deoreciation 311d amo11isation exoensc 4!5.02 393.51 387.33 808.53 7.64.71 1.614.42 
Totlll exoeriscs (2+4+5\ S,137.31 7,749.13 7,402.33 15,886.44 14,504.76 28,856.59 
Profit hefore tu and exceptional ite-ms (t-6) 1,337.62 1,104.93 l,2:57.71 2,442S5" 2.217.72 5,034.48 
Exceptional item 
Profit before tu (7+8) 1,337.62 1,104.93 1,257.71 2,442.55 2,217.72 5,034.48 
Tax; exp,mse 
(.,) Current tax 
-Current vear 227.86 232.76 24857 460.62 501.56 1,190.71 
(b) Deferred LOX clrnrge/(credit) 54.47 8.03 (80.11\ 62.50 (168.46 (401.40) 
Tornl tax expense 282.33 240.79 168.46 523.12 339.10 789.31 
Net Profit for the pe..-iod/yt>.ar (9-10) 1,055.29 864,14 1,089.25 1,919.43 1,878.62 4;45.17 
Oth<'.r comprehensive j11come 
Items that will not h(J r.:clas!1iflcd suhscqut.:m(v to profit or lo.tJ 
Ci) Re-measurement gains/(losses} on defined benefit plaru (4.22) (33.01) 1.84 (37.23) (16.89) (26.21) 
(ii) Income tax effect J.()6 8.31 (0.46) 9.37 4.25 6.60 
Items that will b,· rc::--losi·i(jed :mbscqucntf.v u, profit or !cs:.· 
(i) Effective portion of gains/ (losses) in cash flow hedge (0.98) (O.IS) 2.84 (I.IJ) (3.11) (4.66) 
(ii) Income tax. effect 0.24 0.04 (0.57) 0.28 0.\)3 1.17 
Other comprehe:nsh-e income/ (Joss), net (lffaxe.'i (3.90) (24.81) 3.65 (28.7[) (14.82) (23.10) 
T-0t:i l comorehtnsive income ( 11 +en 1,051.39 839.33 1,092,90 l 890.72 1,863.80 4.222.0i 
Paid--up equity shMc capital 2,043.61 2,043.61 2,043.61 2,043.6) 2,043.61 2,043.61 
(face value of ~ 10 each) 
Reserves {Other Equity) 16.358.53 
Earnings I {loss) per share not annualised not annualised not annualised not nnnualised not annualised annualised 
(of~ 10 each); 
(a) Basic 5.20 4.25 5.36 9.45 9.25 20.90 
(b)Diluted 5.20 4.25 5.36 9.45 9.25 20.90 
Ste a~companying notes to the standalone financial results Notes: Narayana l-lrudayabya Limited 
Registered office! No. 258/A. Bommasandra Industrial Are!!, Anek:'11 T,duk, B~ngaluru 560099, K~rmtt~ka 1 fndia 
Coqll)ratc office: 2nd Floor, No. 261/A! Bornmasandr:1 Industrial Area, Hosur Road, Bcng.aluru 560099, Karn:ifak:1, Jndia 
CJN: L85110KA2000PLC027497, W'-'bsilc: www.n:irayanahe:ilth.org. Email: investorn:lations@n arayllnahealth.<Jrg 
The Statement of unaudited standalone financial resulrs ('the S1atemen1 ') ofNarayana Hrudayalaya Limited ('the Company') for the quarter and six months 
ended September 30, 2024 has been reviewed by the Auail, Risk and Compliance Committee at its ineeting held on October 30, 2024 and approved by the 
Board of Directors on October 31, 2024. The statemenl has been subjected to a limited review by Deloitte Haskins & Sells LLP, the statutory auditors of the 
Company. 
The aforesaid results along with limited review report of the statutory auditors on uuaudited standalone financial results for the quarter and six months ended 
September 30, 2024, is being filed with the National Stock Exchange of India limited ("NSE") and BSE Limited and is also available on the Company's 
website. 
2 The Statement has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim 
Financial Reporting", prescribed under Seclion 133 of the Companies Act. 2013 read with the relevant rules thereunder and in terms of the SEB[ (Listing 
Obligations and Disclosure Requirements) Regulations, 2015, as amended. 
3 The Company's opcrnting segment L, 'Medical and Healthcare Related Services'. Since the Company has a single operating segment, disclosure pertaining to 
segments as per Regulation 33(J)(e) read with clause (L) of Part A of Schedule IV of the SEBJ Regulations is not applicable. 
4 Other income for the year ended March 3 I, 2024 includes dividend income from Henllh City Cayman Island Limited (HCC!), wholly om1ed subsidiary 
amounting to 'I' 7 57 57. million. 
5 During the year ended March 3 I, 2024, the Company had issued 30.000 rated. listed, unsecured, redeemable non-convertible debentures (NCDs) aggregating 
to ~ 3,000 million on a private placement basis carrying a coupon rate of &.25¾ p.a. payable annually and the NCDs are redeemable at the end of 5th year 
from the date of allotment (March 19, 2024). 
6 The Board of Directors of the Company had recommended a final dividend of;t' 4 per equity share of{ IO each amounting to { 817.44 million for the year 
ended 31 March 2024, ,vhich was approved at the Annual General l'vleeting of the Company held on August 31, 2024. The aforesaid dividend was paid during 
the quarter which is resultil1g in a cash outflow on 817.44 million 
7 The standalone unaudited balance sheet as at September 30, 2024, the Statement of standalone cash flows and dL,closure as per regulation 52(4) of SEB! 
(Listing Obligations and Disclosure Reqnirements) Regulations, 2015 are provided as annexures to this statement. 
Place: Bengaluru 
Date: October 31. 2024 for and on behalf of the Board of Directors of 
Narayana Hrudayalaya Limited 
. ,..,.,...__.,r 
----\ v-..../v, ~--'t Narayana Hrudayalaya Limited 
Registered office: No. 258/A, Bommasandra Industrial Area, Anekal Taluk, Ilengaluru 560099, Karnat:ika, India 
Corporate Office: 2nd Floor, No. 261/A, Bommasandra Industrial Are.a, Hosur Road, Bengaluru 560099, Karnataka, India 
CIN: L85I JOKA2000PLC027497, Website: www.narayanahe;1lth.org, Email: <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
STANDALONE BALANCR SHEET 
('{ in Million) 
SI.No. Particulars As at 30 Sep/ember 2024 As at 31 March 2024 
(Unaudited) (Audited) 
A. ASSETS 
I. Non--currcnt assets 
a) Property, plant and equipment 16,528.86 12,223.67 
b) Capital work-in-progress 367.87 337.98 
c) Right of use assets 1,274.02 1,161.76 
d) Goodwill 220.59 220.59 
e) Intangible assets 1,080.06 1,191.39 
t) Intangible assets under development 38.84 
g) Financial assets 
i) Investments 7,892.97 7,898.63 
ii)Loans 882.02 861.02 
iii) Other financial assets 577.38 570.96 
h) Income tax assets (net) 12.36 12.36 
i) Other non-current assets 639.16 2,667.39 
Sub-total- Non-current assets 29,514.13 27,145.75 
2. Current assets 
a) Inventories 471.28 554.92 
b) Financial assets 
i) Investments 1,517.70 2,307.47 
ii) Trade receivables 2,571.34 1,898.85 
iii) Cash and cash equivalents 1,376.89 1,009.98 
iv) Bank balances other than (iii) above 323.34 1,314.72 
v) Loans 455.00 110.00 
vi) Other financial assets 412.46 319.23 
c) Other current assets 455.95 266.70 
Sub-total- Current assets 7,583.96 7,781.87 
TOT AL-ASSETS 37,098.09 34,927.62 
8. EQUITY AND LL\BILITIES 
I. Equity 
a) Equity share capital 2,043.61 2,043.61 
b) Other equity 17,436.35 16,358.53 
Suh-total-Total equity 19,479.96 18,402.14 
2. Non-current liabilities 
a) Financial liabilities 
i) Borrowings 7,214.78 7,935.36 
ii) Lease liabilities 934.86 787.73 
iii) Other financial liabilities 128.81 119.80 
b) Provisions 443.5l 379.48 
c) Deferred tax liabilities (net) 433.13 38029 
d) Other non-current liabilities 242.98 258.1 l 
Sub-total- Non-current liabilities 9,398.07 9 860.77 
3. Current liabilities 
a) Financial liabilities 
i) Borrowings 1,311.16 1,276 75 
ii) Lease liabilities 106.60 108.00 
iii) Trade payables 
Total outstanding dues of micro enterprises and small enterprises 253.92 278.31 
Total outstanding dues of creditors other than micro enterprises and small enterprises 4,570.86 3,749.53 
iv) Other financial liabilities 372.13 69.42 
b) Other current liabilities 627.42 595.62 
c) Current tax liabilities( net) 511.93 202.52 
d) Provisions 466.04 384.56 
Sub-total- Current liabilities 8,220.06 6,664.71 
TOTAL- EQUITY AND LIABILITIES 37,098.09 34,927.62 Naraymrn Hn1<lnyalay~1 Limited 
Registered office; No. ZSS/A, 8omma.s:rndrn Industrial Arca, Ancknl 'falu~ Bcngnluru :560099, Karntitaka, lndin 
Corpornte office: 2nd Floor, No, 261/A, Bomurnsandra Industrial Area, Hosur Road. Bengaluru 56009~\ Karn:italrn, India 
CIN: L8S110KA2000PLC027497, Website: www.narayanahealth.org, Emnil; invcstorrcl:itions@narayannhe:1lth.org 
STATEMENT OF STANDALONE CASH FLOWS FOR SIX MONTH ENDED 30 SEPTEMBER 2024 
Particulars 
Cash flow from operating acth,ities 
Profit 2:fter tax 
Adjustments : 
Income tax charge /(credit) 
Depredation and amo1tisation 
Provisioni(Revetsai) for loss allowance 
Provis.ion/(Reversal) for doubtful advances 
Bad receivables v.rritten off 
Interest income 
fnterest income from financial asset at amortised cost 
Finance costs 
Guarantee commission income 
Government grant income 
Gain on <lerecognition of financial liability 
Loss on disposal of ass-ets 
Profit on sale ofinvcsr.ment 
Provision for other than temporary diminution in the value of investments 
Unrealised foreign exchange (gain),1oss (net) 
Ot)erMing cash flow before working cnpital ch.auges 
Changes in trade receivables 
Changes i.11 inventories 
Changes in loans, other finanWI! assets and other assec.s 
Changes in trade payables, other financial liabilities and other liabilities 
Ch:mges in provision 
Cash generated from operations 
Income taxes {paid) I refund received (net) 
Net ca!ih generated from operating activities (A} 
Cash flow from .investing ai:-.th,ifi~s 
Acquisition of Property, plane and equipment {including capita! work-in-progress, 
Intangible us.sets and fntangible assets under devclopment,capita! ad,:ances) 
Proceeds from sale of property. plant and equipment 
Investment in equity shares of subsidi2.ries 
Loan given to subsidiaries 
Loan repaid by subsidiaries 
Purcha.<;e of mutual fund 
Proceeds from sate ofmutuz.l fond 
Investment in bank deposits 
Proceeds from. bank deposits 
fnterest re<:eived 
Net cash (used in) investing activities (B) 
Cash flow from financing activities 
Prnceeds from long-term bono\vi!lgs 
Rcpayme11t oflongwterm borrowings. 
Dividend paid on equity share (net of dividend received on tre?.sury shares) 
Proceeds from eil:ercise of share options 
Interest and other borrmving costs 
Payment of lease liabilities 
Net cash (used in) finaneing attivities (C) 
Net iucrease/(decre.ise) in cash and cash equivalents (A+B+C) 
Cash and cash equivalents at the beginning of the year " 
Effects of exchange gain/ {loss) on restatement of foreign currency cash and cash equivalents 
Cnsh and cash equivalents at the end of the year" For six mouths ended 
30 Sept~mher 2024 
(Unaudited) 
l,919 43 
523.12 
808.53 
4'7.01 
(88.79) 
(lJ.2;) 
408.47 
(!.81) 
(16.65) 
(0.01) 
(60.81) 
5.66 
2.39 
3,533.29 
(722.07) 
83.64 
(244.81) 
1,212.14 
117.65 
3,979.84 
(160.87) 
3,818.97 
(3,165.73) 
1.98 
(365.00) 
20.00 
(5,569.72) 
6,420.30 
(9.82) 
1,000.00 
57.31 
(1,610.68) 
(565.76) 
(812.90) 
(242.80) 
(100.40) 
(1,721.86) 
486.43 
890.09 
0,37 
1,376.89 
• Cash-and cash eq11ivale11ts include bank overdrafts that are repayable on de:nand and form an integral part of the Companis caili management. 
Cash and cash equivalents 
Particul:irs 
Cash on hand 
Balance ,1,.ith banks 
wln current accounts 
win deposit accounts (due to mature \-Vithio 3 monihs of the acquifiition dote) 
Less: Bank overdraft: used for cash management ourposcs" 
Cash. :ind c::ts:h equivalents in the statemeot of cnsh flows Asat 
30 September 2024 
27.47 
1,349.42 
1,376.89 
1,376.89 
;,.-Cash and cash eqtuvalents 1ndude bank overdrafts that are r~payab!e on demand and form an mtcgrn.! part of the Company's cash management. 
Rct(Hltiliation of Jiabilitic,~ from financing :ictivitfos for six months Cndrd 30 September 2024 
Particulars 
Borrowings (including current maturities and exclude bank overdmfis) 
Lease liabilities 
Total Ji.ibilities from finandng activities 
Recondliatioo of liabilities from financin,g :H'liviti('.S for :;:ix 
Particul~rs 
Borrowings (including current maturities) 
Lease liabilirie5: A.silt 
1 April 2024 
9,092.22 
895,73 
9,987.95 
As ~l( 
I AJ>rH 2023 
5,430.87 
1,011.01 
6,441.90 Fair v~tluef 
Proceeds Repayment nthcr chnnges Foreign exchange 
(565 76) (0.63) 0.11 
(100.40) 246.13 
(666,16) 245.50 0.11 
Non c:ish changes 
Fair valuc,1 
Proceeds Repayment otha chnug<.•s Foreign cxcfrnnge 
599 73 (407.44) 6.98 
(164.48 59.85 
599.73 (571.92) 59.85 6.98 f{ in million) 
For six months ended 
30 Septembe.r 2023 
(Unaudited) 
Asat l.87S.62 
339.10 
764.il 
45.08 
3.91 
4.86 
(93.30) 
(16.72) 
265.34 
(0.06) 
(26.41) 
(6.17) 
6.86 
(24.78) 
2-23 
3,143.27 
(657.71) 
(62.89) 
159.12 
204.41 
67.35 
2,853.55 
(246.78) 
(1,465.50) 
(5.11) 
(!-15.00) 
16700 
(3,960.00) 
3,246.42 
(846.81) 
1,123.IO 
51.90 
(1,834.00) 
599.73 
(407.44) 
(507.67) 
0.30 
(202 22) 
(164.48) 
(681.78) 
90.99 
702.52 
793.51 
30 September 2023 
;91.61 
150.00 
793.51 
793.51 
{f:(in million) 
Asat 
30 September 2024 
8,$'.?5.94 
1,041.46 
9,567.40 
{~ in million) 
Asat 
30 Se tembff 2023 
5,630.14 
906.40 
6,536.54 SI. No. Particulars 
7 C\trrwl liab\li<y utio 
9 Ix:btorsTurnorer,3.tio 
JO OpcrJtin;1 fll3t,:inr, -.) 
11 NttProfitm:::.rgin(%) 
12 ln\"en1oryn1mc\-crracio Nar:,)·;ma llrnd:i.y~laya Limilcd 
Rc~ister<:d office: No. 258/A, 8umm:i.itllndf"3 lncfostrfal Are:l, .Aoebl Tahik, Btn~:.alunt 560099, K11rn:1.t~k;1, India 
Cllrpor;1te Ofli<:c; 2nd f1oor, No. 26l!A, Rnmin:1~:indrn lnrlusrri:ll Arei, Ho.~ur Ro,J, Benz.:durn 56(1099, k'.l\n1:1tab, India 
CIN: L85J WKA:!OO-OPLC02?497. Website: www.narayanahctilth.or~. Em:ii!: im•c.n11rrel;1.tlon.s@n:i.ra yan:1htaith.org 
,onrnON,S.L DI.SC(,OSURf:SA5 PER R.f.CUlARTIO:\ ~2(J) OF'S[RJ (LI.STINC ORLIGA.Tl01'S AND DISCLOSUR[ REQUIREMENTS) REGUL4.TJONS, :!fll~ 
I Quartcr f:nded Six monlh ended 
! 30.Sco-24 3~Jun-H JO-Sco--13 J0-5':o-:?4 30--,Se 1-23 
(Uuam.litell) (lfo:mditcd) 
0.50 
2.i') 2.50 
u.n 
U.63 7.25 
0.22 O.!.l 
0.2) O.N 
!9.5Wo 
ll...50"/t 9.'Ji% 
4.!S 4.06 
NA NA (Unm1di1<:d) 
0.-!1 
3.32 
1-0.57 
J.f><l 
.5.J6 
0.2; 
0.19 
--Ul 
J!>.21% 
5.71 
NA (l!a:1u1liled) (Un;1u1liMJ) 
()_.J'J 0.41 
2.65 2.'J7 
9.36 
11.92 UH.I 
l1.6J 5.36 
0.?2 
O.H 0.19 
S.NI 7.96 
1U9% 
II.IC. 
NA 
1--1-N.:t 11-arthr M":.llion)(as per s."Ct.io112(57) of Contpmu,.-s ,\ct.2013) l'M79.96 16 .. C•n.37 l'J,479.% J~,f>-13."7 
15 The Comp~ny lus no! issucri :iny ;:-.ccured lirttd no1\-con\·.utib!e deb! stturi1:cs Year ended 
(Audited) 
t> . .55 
:?.89 
10.29 
1.17 
0.19 
0.2G 
17.8! 
13.00% 
17.Jk 
Note: TJ1eabore disclosiuc bas been pro-.=idc-d d:.:e 10 1hcadriitii,n.1I rcqnir.:n1en:.s as p,,:1 ~g-.. da1ion S:?{J) OfSEBI (listing Obli;;atioru. :m:1 Oisdoru1~ Requi,::mcnt<;) Rci;ufotions, 101:'i. Refer Na11: 5 to s.an1alo:1e tiu:md:il fl-'Sults. T!1e 
fis_tm:s for !he qu:11~.:r ~r,rl $b.: Mor.ths cr..dOO S...--p 30, 20?~ l1.11c been di~dosc~ for comp..1ris:K\ purpo~s 
F"om-,ul:ic for rom ulation of rJtio~ ;ire ;i.~ fo!lo1n 
5.n<> l'articul~ N 
I D~bt Equit)' Rati~ 
2 ~bt Sccvicc Co\l:ra:;c Ratio 
~ t.or1;: 1.::m debt lo working ~piul rJliO 
6 D.id debts lo Accounts rc~c1rnbk rntio 
7 Cuncr.tlii1blli1yr.uio 
9 Dtbto~Tumo-.-err-Jtio 
11 Net Profl1 m~rgir.(%} 
12 lmc11.1ory1urncr,utJtio F<1rmufae 
T:11:'11 Equity 
E.:11:nings for ccl,t scn-kc=E..11-n iuss Bcfmc lnh:re.st Debt Scnicc-'fina11c: cost&: l.:a!e 11:1)m~i11:>tprinC'l1t.:1l rtpayments 
;u:dT:u 
Profit before uxcs+Fimmcc cost 
TotalcuITCt1l:i~!s 
Lo"' te;c borrowings(illduding curr.::nt 
rn;i;uri!ie~ ct b:i,g 1crm borrowin&s) 
B:itlDcbC> 
Tot.1l.Bor.owi11s-¥ 
Rc\.'"cnuc frcm Op¢~;1:'.ons Tot.i!C\UTCr.tliabilitfas 
Cun1:nta\Sl.!IS{-}01ocmli:bi1it-s 
!E:<cluding curtcnl rr...:it111itit:i or l:Jug 1cm1 bvrrOll"in;sJ 
T(.lc:,] !i:ibilirics 
Aw:rJic lradertteirnhlc. $ 
Earning, Wort: dqm:cii!tlon. fin:ince cost. Ii!.'-Jnd RC\·cnucfrom opcmtinn .~ 
ex.-:ep:ion;il ittms H Otlit!r !n:.:.ouie 
Co~t of goods ~old" Pu1cl:w1: uf m,:dic;d 
comwnable>. drugs and su.rg[~I 
instn.m,..:1as-t-Cl!;.l n;,"C>'i1li11n;ntnri1. -smedic.1I 
cous1lm:1bles .. dru.,-sondsurgic.ilinstn11nem;; Rc1'C~llt from npcr,1tio11.~ Deloitte 
Haskins & Sells LLP Chartered Accountants 
Prestige Trade Tower, Level 19 
46, Palace Road, High Grounds 
Bengaluru -560 001 
Karnataka , India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED 
FINANCIAL RESULTS 
TO THE BOARD OF DIRECTORS OF 
NARAVANA HRUDAVALAVA LIMITED 
1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results 
of NARAVANA HRUDAVALAVA LIMITED ("the Parent") and its subsidiaries (the Parent and 
its subsidiaries together referred to as "the Group"), and its share of the net loss after tax 
and total comprehensive loss of its associate for the quarter and six months ended September 
30, 2024 ("the Statement") being submitted by the Parent pursuant to the requirement of 
Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015, as amended ("the Listing Regulations") . 
2. This Statement, which is the responsibility of the Parent's Management and approved by the 
Parent's Board of Directors, has been prepared in accordance with the recognition and 
measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial 
Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with 
relevant rules issued thereunder and other accounting principles generally accepted in India 
and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations . Our 
responsibility is to express a conclusion on the Statement based on our review. 
3. We conducted our review of the Statement in accordance with the Standard on Review 
Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the 
Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India 
(ICAI). A review of interim financial information consists of making inquiries, primarily of 
Parent's personnel responsible for financial and accounting matters, and applying analytical 
and other review procedures . A review is substantially less in scope than an audit conducted 
in accordance with Standards on Auditing specified under Section 143(10) of the Companies 
Act, 2013 and consequently does not enable us to obtain assurance that we would become 
aware of all significant matters that might be identified in an audit. Accordingly, we do not 
express an audit opinion. 
We also performed procedures in accordance with the circular issued by the SEBI under 
Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 
2015, as amended, to the extent applicable . 
4. The Statement includes the results of the followino entities· 
SI. No. Entity Relationship 
1. Narayana Hrudayalaya Limited (NHL) Parent 
2. Narayana Hospitals Private Limited (NHPL) Subsidiary 
3. Meridian Medical Research & Hospital Limited (MMRHL) Subsidiary 
4. Narayana Vaishno Devi Specialty Hospitals Private Limited Subsidiary 
(NVDSHPL) 
5. Narayana Hrudayalaya Surgical Hospital Private Limited Subsidiary 
(NHSHPL) 
6. Health City Cayman Islands Limited (HCCI) Subsidiary 
7. Narayana Health North America LLC Subsidiary 
8. Medha AI Private Limited (MAPL) Subsidiary 
9. Samyat Healthcare Private Limited (SHPL) Subsidiarv 
10. NH Inteorated Care Private Limited (NHIC) Subsidiary 
11. Narayana Health Insurance Limited (NHIL) Subsidiary 
12. Athma Healthtech Private Limited (AHPL) Subsidiarv 
13. Narayana Holdinos Private Limited (NHDPL) Subsidiary of HCCI 
Regd. Office: One International Centre, Tower 3, 32'" Floor, Senapati Bapal Marg, Elphinstone Road (West), Mumbai -400 013, Maharashtra, India 
(LLP Identification No. AAB-8737) 
Page I of 2 Deloitte 
Haskins & Sells LLP 
SI. No, Entity Relationship 
14. Cayman Integrated Healthcare Limited (CIHL) Subsidiary of HCCI 
15. ENT in Cayman Islands Limited (EICL) Subsidiary of HCCI 
16. Reya Health Inc (formerly known as CURA Technologies Associate of HCCI 
Inc) 
17. NH Health Banaladesh Private Limited (NHHBPL) Subsidiary of NHDPL 
5. Based on our review conducted and procedures performed as stated in paragraph 3 above 
and based on the consideration of the review reports of other auditors referred to in paragraph 
8 below, nothing has come to our attention that causes us to believe that the accompanying 
Statement, prepared in accordance with the recognition and measurement principles laid 
down in the aforesaid Indian Accounting Standard and other accounting principles generally 
accepted in India, has not disclosed the information required to be disclosed in terms of 
Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015, as amended, including the manner in which it is to be 
disclosed, or that it contains any material misstatement. 
6. We did not review the interim financial information of seven subsidiaries included in the 
consolidated unaudited financial results, whose interim financial information reflect total 
assets of Rs. 1,250.95 Million as at September 30, 2024, total revenues of Rs. 116.89 Million 
and Rs. 263.11 Million for the quarter and six months ended September 30, 2024, 
respectively, total net profit after tax of Rs. 0.15 Million and Rs. 13.88 Million for the quarter 
and six months ended September 30, 2024, respectively and total comprehensive profit/Closs) 
of Rs (0.26) Million and Rs. 14.05 Million for the quarter and six months ended September 
30, 2024, respectively and net cash flows of Rs. 51.48 Million for the six months ended 
September 30, 2024, as considered in the Statement. These interim financial information 
have been reviewed by other auditors whose reports have been furnished to us by the 
Management and our conclusion on the Statement, in so far as it relates to the amounts and 
disclosures included in respect of these subsidiaries, is based solely on the reports of the other 
auditors and the procedures performed by us as stated in paragraph 3 above. 
Our conclusion on the Statement is not modified in respect of these matters. 
7. The consolidated unaudited financial results includes the Group's share of loss after tax of Rs. 
Nil and Rs. Nil for the quarter and six months ended September 30, 2024 and total 
comprehensive loss of Rs. Nil and Rs. Nil for the quarter and six months ended September 
30, 2024, as considered in the Statement, in respect of its associate, based on its interim 
financial information which has not been reviewed by its auditor. According to the information 
and explanations given to us by the Management, the interim financial information are not 
material to the Group. 
Our conclusion on the Statement is not modified in respect of our reliance on the interim 
financial information certified by the Management. 
Place: Bengaluru 
Date: October 31, 2024 
MP/EKP/SM/TG/2024 For DELOITTE HASKINS & SELLS LLP 
Chartered Accountants 
(Firm's Registration No. 117366W/W-100018) 
Page 2 of 2 Monisha Parikh 
Partner 
(Membership No. 47840) 
UDIN: 24047840BKFJAD7678 Narayana Hrndayal:iya LimiteJ 
Rc:{islercd oflict: No. 258/A, Bunim .. 'l.sandr:i fodustri31 A1·c2, Anck:11 T;iluk, Bl!ugaluru :560 099, K11rn:it~kn, India 
Corporate offic-e: 2ntl floor. No. 261!A. Bomnaas::mdr3. Jndustri:tl Are:i, Hosur Road, 8engalurn560 O?!>, K:trn:H2l.:.a, India 
ClN: US11UK.<\2000PLC027497 , Webs:itt.: www.n:rray.:in:\health.uq;, Email: in\'es10rrcl:i1itJn.,:;@nar:1.yam11tcalth,ore: 
STATEMENT OF UNAUOITEO CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SlX MONTHS ENDEIJ lO SEPTEM8£R 202-1 
tUn;:iudited) (Unaudit('d) (Un,1uditc1.n 
t. lnconie 
(a) Rewnu.: from op,na.tions 
(b} Other imx1m~ 
2. E!l'p('nStS 
(a) Purch.1s,:.s of medical COltSUl'lttblt:s. drugs and surgic:J i:lslrumtms 
(b) Changes in iiwcntorie.s of medical consumables. drnt;s and surgical 
instrume1:ts •(lnerease)/Decre.1Se 
(c) Employee benefil> expense 
{d) Professional fees to doctors 
If e\ Other exnenses 
Expenses before dep,·edatioll and ~monisarfon, fin.:inc:c costs and 
<::ucutional items 14,000.05 
2;6.0l 
14.2¼.0S 
3,165.98 
(i6l.74) 
2,820.52 
2,453.15 
2.(,39.87 
10/)15.78 
J. Enroings hcforc d<"prcdatiort and :t(n(lrtis::ttion, fin:tnc:e c;:osf1 and 
ei1ccotfon:li items {1•2) IEBITDA l J,3lO.JO 
4. fin.1nce costs 351.26 
. S. D.!nreciation and amoctis.a1ion CX™'n5e 6S I .'JO 
)6. 'fotal Exnenses (2-f.4+51 I J.918.34 
10. Share offo.ss of e.:mi!V a.:counted invtstees 
11. Prufil before fax (9+t.Ol 
12 Tax e'.'<oense 
f(a)Cur.cntt.ix 
) -Currenty.:::i: 
(b}'Defmed l.l:< ch!lb-.:l(crcdit) 
13. Net Prnfit for the neriod/ yeii.r{l 1·12) 
J4. OIiier Comprehensi\'e Income 
/Jcmi tlu.11 'It-ill ,wt be redt1Hifit·d w/;5w.p1;:n1/y ro profit or loss 
fi\ Re-mt:i.!suremer.l :r:Uns/ flos:se:s) on <lel'ined bcndi1 Dh.ns: 
(i:\ focome ta.x eife,.f 
ti} S.frecti~ cortion (If ~ains/ ilosses) in cash flow hedttes 
(ii) Income l::i..-.: df-:ct 
. (iii) Eff~c1ive portion of gains/ (losso!s) of ncl inv~stment hedge in a fo1cign 
ioouation I {ivj ~s:ch.ing.: differtnce.<; in translating the tinanci1t st.uement of foreig,'l 
~ii~~~!~:~~nre_hensh·e Income/ (loss). net of taxes 
15. Tomi comprehcosive income: (13+1.4) 
J6, Net Profit atuibutablc ro: 
OV1.ners of the com )l/1 
Non-controlling in:creru 
Net Profit fnr the neriod/ war 
, 17. Other comorchcnsive inconk!/ floss) altrlhutablc lu: 
o .... ners of the comoar.v 
Non-<:ontn:,lling interests 
Other comnrehcnsh·e i.ncome for the n1•ri.od! vcllr 
J!•. Towt comnrelnmsive income attribut.ibk to: 
Q1,>,ntrs of the comounv 
Non.•C(mk•>lling interests 
Total tomprd1ensive incomt! ru .. the period/yc:1r {16+17) 
19. Paid-up e:quity share capila! 
Face value of f 10 each) 
20. Reserves {Other E(lui1v\ 
21.1 Earnings per share 
(af t I.O each) 
1 (.i)Ba:.ic 
i (b)Oilu"'d 
i Sec accomµaaying nules to the consolidated t1n-ancfol results 2.317.74 
290.95 
JS.SI 
329.76 
J,987.98 
(7.101 
2.01 
(4.58) 
0.24 
2.51 
6(1.32 
53.40 
2,0.U.33 
1.986.33 
1.65 
1.9S7.98 
;3.40 
S3.40 
2.039.73 
t.65 
1,041.38 
not.inr.ua!iscd 
9.78 
9.78 IJ.409.52 13.051.46 
23.:.92 184.03, 
13,Ci44.44 13,236.49 
2,Slll.94 2,840.02 
63.26 4.71 
2,763.61 2,553.04 
2J5S.l6 2,220.50 
2.366.92 2.353.!l2 
l0 ... 170.89 9,971.55 
3.27J.:55 3,065.14 
340.16 228.55 
616.54 552.74 
U.327.59 10,7$2.64 
2.316 .. '15 2,48),85 
1,316.85 2,4SJ.85 
2.JHi.85 2,483}15 
298.94 294.59 
::!.97 (?i.61) 
301.9( 216.98 
2,014.94 2,266.81 
(40.55 0.74 
8,76 {0,$5} 
(3.46)' (O.SSjf 
0.04 (0.57) 
0.56 8.45 
IJ.76 138.60 
/20.89) 14G'..02 
1,994.05 2,412~~9 
2.0lJ.75 2.265.133 
l.!9 1.04 
2,014.94 2,266 .. 'H 
120.88) 146.02 
(O.O[) 
(20.89) 146.02 
1.992.87 2,411.S5 
1.18 1.04 
J,994.05 2,412.89 
2,043.61 2,04).61 I 
not rumualised I not annuali:S~d 
9.921 t Li6 
9.92 11.16 (( iu Millicm, c::runt ocr share d:ua~l s;, months ended l • 
(Un:iudired) 1Unimdilcd' ! 1Auditcd) J 
27,409.57 
470.95 
27.880.52 
S,984.92 
(100.4&) 
5.58-UJ 
4,811.31 
5.006.79 
21.286.67 
6,593.85 
691.42 
1.267.84 
23..245.93 
4,634.59 
4,634.59 
4.634.59 
SS9.89 
41.76 
631.67 
4,002.92 
147.65) 
10.77 
(8.04) 
0.28 
3.07 
74.0K 
32.Sl 
4,035.43 
4,000.08 
Z.84 
4,002.92 
32.52 
10.01 
32.51 
4.012,60 
2.83 
4,035.43 
2,043.61 
uot ,mnualised 
19.70 
19.70 2:'i,386.74 
334.94 
ZS.721.68 
5,592.76 
(30.52) 
5,006.87 
4,319.63 
4.710.13 
19,S9S.S7 
6,122.81 
437.99 
1.141.62 
21,178.48 
4.543.20 
4,543.20 
4.543.!0 
602.M 
(160.37) 
435,87 
4,107.33 
fl9.80)i 
4.93 
(3.24 
0.93 
6.9& 
115.66 
105.46 
4.,212.79 
4,105.36 
l.97 
4,107.33 
l05,47 
(0.01) 
105.46 50.182.49 
751.S9 
50,93.f.38 
11,123.14 
(!SJ. 77) 
10,043.02 
S,847,01 
9.029.SO 
38,658.90 
1I,175A8 
96$.81 
2 421.38 
42.049.IO 
8 885.?8 ! 
H,8XS.18 
8,885.lS 
1,376.04 
087.00 
989,04 
7,896.24 
(33.19) 
8.44 
(14.29\ 
1.17 
S.74 
166.86 
137.73 , 
8,033.97 
7,892.6:! 
3.62 
7,896.24 
137.75 
(0.02) 
137.73 
4,210.83 S,030.37 
1.96 3.60 
4,ll2.79 8,.033.97 
2.043.61 2,043.61 
.26.7'>3.20 
not .l.'lnurilis!!d l-.'lnualised 
20.21 38.86 
20.21 38.S6 Narayan:, J-lnulayalaya Limited 
Registered office: No. 258/A, Bommasaodrn Industrial Arca, Anekal Tafuk, Bcngaluru 560 099, Karnataka, India 
Corporate office: 2nd floor, No. 26 l/A, Bommasandra Industrial Area, Hosur Road, Bcngaluru 560 099, Karnataka, India 
CIN: L85JIOKA2000PLC027497, Website: www.narayanabealth.org, Email: investorrelation s@narayanahe:1lth.org 
STATEMENT OF UNAUDITED CONSOLIDATED FINANCI AL RESULTS FOR THE QUARTERAND SIX MONTHS ENDED 30 SEPTEMBER 2024 
Notes: 
I The Statement of unaudited consolidated financial results ('the Statement') of Narayana Hrudayalaya Limited (the 'Parent' / 'Company') and its 
subsidiaries (together referred to as tl1c 'Group') for the qu~rter ended September 30, 2024 has been rev.iewcd by the Audit. "Risk and Compliance 
Committee at its meeting held on October 30, 2024 and approved by the Board of Directors 011 October 31, 2024. 
The aforesaid results along with lirni!cd review repo11 of statutory auditors is being filed with the National Stock Exchange of India Limited ("NSE") 
and BSE Limited and is also available on tl1e Compani's v,,ebsite. 
2 The Statement has been prepared in accordance with the recognition and measurement principles laid do\\11 in the Indian Accounting Sta11dard 34 
"Interim Financial Repo,ting", prescribed under Section I 33 of the Companies Act, 2013 read with the relevant rules thereunder and in tenns of the 
SEHi (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 
3 During the year ended March 31,2024, the Cornpan)' had issued 30,000 rated. listed, unsecured , redeemable non-convertible dd,cnlurcs (NCDs) 
aggregating to Rs 3,000 million on a private placement basis carrying a coupon rate of8.25% p.a. payable annually and the NCDs are redeemable at the 
end of 5th year from the date of allotment (March 19, 2024). 
4 The Board of Directors of the Company had recommended a final dividend oft 4 per equity share of 'I' 10 each amounting tot 817.44 million for the 
year ended March 31, 2024, which was approved at the Annual General Meeting of the Company held on August 31, 2024. The aforesaid dividend was 
paid during the quarter which is resulting in a cash outflow on: 817.44 million. Narayana Hrudayalaya Limited 
Registered office: No. 258/A, Bommasandra Industrial Area, Anckal Taluk, Bcngaluru 560 099, Karnataka, India 
Corporate office: 2nd Floor, No. 261/A, Bommasandrn Industrial Area, Hosur Road, Bengaluru 560 099, Karnataka, India 
CIN : L85110KA2000PLC027497, Website: www.narayanahealth.org, Email: <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024 
5 Segment Information 
The Group's operating segments are 'Medical and Healthcare related Services' and Others and the disclosure pertaining to segments as per Regulation 
33(l)(e) read with clause (L) of Part A of Schedule IV of the SEBI Regulations has been given below. 
ft in Million) 
Quarter ended Six months ended Year ended 
SJ.No. Particulars 30-Sep-24 30-Jun-24 30-Sep-23 30-Sep-24 30-Sep-23 31-Mar-24 
(Unaudited) (Unaudited) (Unaudited) (llnaudilcd) (Unaudited) (Audited) 
1 Segment Revenue 
a)Revenue from operation s 
Medical and healthcare related services 14,004.17 13,409.48 13,052.46 27,413.65 25,386.74 50.182.49 
Others 49.17 0.04 . 49.21 . 
Less: fnter segment revenue (53.29) (53.29) 
Total revenue from operations (a) 14,000.05 13,409.52 13,052.46 27,409.57 25,386.74 50,182.49 
Unallocated other income•(b) 236.03 234.92 184.03 470.95 334.94 751.89 
Total income (a)+(b) 14,236.08 13,644.44 H,236.49 27,880.52 25,721.68 50,934.38 
2 Segment result 
Medical and healthcare related services 2,486.41 2.4S!.70 2,528.37 4,968.11 4,646.25 9,149.77 
Others (53.44) (59.61) (113.05) (47.56) 
2,432.97 2.422.09 2,528.37 4,855.06 4,646.25 9,102.21 
Add: Unallocable other income 236.03 234.92 184.03 470.95 334.94 751.89 
Less: Unallocable Finance cost 351.26 340.16 228.55 691.42 437.99 968.82 
Profit Before taxes 2,317.74 2,316.85 2,483.85 4,634.59 4,543.20 8,885.28 
3 Segment Asse~ 
Medical and healthcare rdated services 51,167.66 49,347.00 39,268.91 51,167.66 39,268.91 44,324.62 
Others 1,246.05 1,286.53 1,246.05 974.01 
Unallocated ' 10,014.92 11,078.90 8,599.45 10,014.92 8,599.45 10,947.18 
Total 62,428.63 61,712.43 47,868.36 62,428.63 47,868.36 56,245.81 
4 Segment liabilities 
Medical and healthcare related services 13,903.80 15,138.37 12,514.00 13,903.80 12,514.00 12,238.35 
Others 179.54 169.90 179.54 . 9.65 
Unallocated• 16,271.89 15,559.73 10,324.75 16,271.89 10,324.75 15,146.94 
Total 30,355.23 30,868.00 22,838.75 30,355.23 22,838.75 27;394.94 
5 Capital employed 
(Segment Assets-Segment liabilities) 
Medical and healthcare related services 37.263.86 34,208.63 26,754.91 37,263.86 26,754.91 32,086.27 
Others 1,066.51 1,116.63 1,066.51 . 964.36 
Unallocated • (6,256.97) (4,480.83) (1,725.30) (6,256.97) (1,725.30) (4,199.76) 
Total 32,073.40 30,844.43 25,029.61 32,073.40 25,029.61 28,850.87 
*Interest on fixed deposits,gain from mutual funds are not allocated to individual segments as the underlying intruments are managed on a corporate 
level. Similarly invcstments,fixed deposits,current taxes,deferred taxes and certain financial assets and liabilities are not allocated to segments as they are 
managed on a corporate level. 
6 The consolidated unaudited balance sheet as at September 30,2024,the Statement of consolidated cash flows and disclosure as per regulation 52(4) of 
SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 are provided as annexurcs to this statement. 
Place: Bengaluru 
Date: October 31, 2024 for and on behalf of the Board of Directors of 
Narayana Hrudayalaya Limited 
x-
\ "-.,/J'~:.---. Narayana Hrudayalaya Limited 
Registered office: No. 258/A, Bommasandra Industrial Area, Auekal Taluk, Bengal um 560099, l(arnataka, India 
Corporate Office: 2nd Floor, No. 261/A, Bommasandra Industrial Area, Hosur Road, Bengaluru 560099, Karnataka, India 
CfN: L85l JOKA2000PLC027497, Website: www.narayanahealth.org, Email: <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
CONSOLIDATED BALANCE SHEET 
(Zin Million) 
SI.No. Particulars As at 30 September 2024 As at 31 March 2024 
(Unaudited) (Audited) 
A. ASSETS 
I. Non-current assets 
a) Property, plane and equipment 26,164.38 21,983.64 
b) Capital work-in-progress 7,367.21 5,141.36 
c) Right to use assets 2,042.59 2,0.19.08 
d) Goodwill l,18l.12 1,179.23 
e) Intangib!I: assets 1,248.92 1,328.95 
f) Intangible assets under development 38.84 . 
g) Investment in associates - -
h) Financial assets 
i) Investments 542.78 44.69 
ii) Loans 882.02 861.02 
iii) Other financial assets 561.49 561.87 
i) lncome tax assets (net) 100.06 109.76 
j) Deferred tax assets (net) 70.91 53.!6 
k) Other non-current assets 1,758.36 3,502.43 
Sub-total- Non-current assets 41,958.68 36,785.19 
2. Current assets 
a) Inventories 1,199.97 1,099.48 
b) Financial assets 
i) Investments 8,567.62 8,396.94 
ii) Trade receivables 5,425.86 4,218.77 
iii) Cash and cash equivalents 2,456.69 2,638.27 
iv) Bank balances other than (iii) above 832.28 l,526-30 -v) Other financial assets - 791.20 899.02 
c) Other current assets 1,196.33 681.84 
Sub-total- Current assets 20,469.95 19,460.62 
TOTAL-ASSETS 62,428.63 56,245.81 
B EQUITY AND LIABILJTJES 
I. Equity 
a) Equity share capital 2,043.61 2,043.61 
b) Other equitv 30,012.90 26,793.20 
Sub-total- Total equitv attributable to ownHs of the Company 32,056.51 28,836.81 
2. Non controlling interests 16.89 14.06 
Sub-total- Total equitv 32,073.40 28,850.87 
3. Non-current liabilities 
a) Financial liabilities 
i) Borrowings 12,680.07 ll,950.58 
ii) Lease liabilities 1,556.05 1,495.87 
iii) Other financial liabilities 562.78 634.99 
b) Provisions 493.20 411.89 
c) Deferred tax liabilities (net) 519.02 470.55 
d) Other non-current liabilities 1,301.05 1,327.24 
Sub-total- Non-current liabilities 17,112.17 16,291.12 
4. Current liabilities 
a) Financial liabilities 
i) Borrowings 2,454.47 2,486.56 
ii) Lease liabilities 340.75 333.93 
iii) Trade payables 
Total outstanding dues of micro enterprises and small enterprises 444.38 472.20 
Total outstanding dues of creditors other than micro enterprises and small enterprises 6,966.12 5,563.46 
iv) Otl1er financial liabilities 639.16 369.42 
b) Other current liabilities 1,182.6] 1,143.79 
c) Current tax liabilities (Net) 618.33 239.25 
d) Provisions 597.24 495.21 
Sub-total- Current liabilities --. 13,243.06 ll,103.82 
Sub-total- Total linbilitics ~,7, oay,,,,;,.._ 30,355.23 27,394.94 
TOTAL- EQUITY AND LIABILITIES ; lt,i· ' , --.~\ 62,428.63 56,245.81 ,. ' Nanyana Hrucl.ayul:ty:1 Limited 
Registered office: N-0. 258/A, Rommasandra Industrial Area, Ant"S.al Tnlnk, Bengaluru 560099, Kam~rnk:i, lodia 
Corporate office: 2nd f1oor, No. 261/A, Commasam.lra Industrial Ar('!I. lfosur Road, ncngafuru 560099, Kam.11ak:i, l11dia 
CIN: I.S51J0K,\2000PLC02i497, Website: ,vww.Mr:t)'nnahcallh,org, Em:\il: in\'estorrelations@nhhospir :1ls.or~ 
rarticul;1.rs 
Profil af\cr 1:1,x 
Adjn~lmL 'llts: 
locome ta-.,: cx~nsc 
DcpreciJti-::on ar.d amartis:i.tion expense 
Interest income STAT EM El'\T'Of CONSOLIDATED CASH FLOWS FOR THE SIX MONTHS RNDl~D 30 SEPT£MBER 2024 
l.utcrcst income ftom flmmci11I :isscl a: ~11011.i~ecl C(l~l 
Liabili1ics / Pro\ision nO lon.scr required wriUt:n h.1ck 
Provl$ion.l (r¢Ycmt) for loss allowan.x: :md doub1iul ;id\·anccs 
Bod rccekablcs \\tir:cn off • 
C::i!n on 1krc,;:o£11ilioa of fo1an:ial liability 
Property usajj.C 1ight 
Finai!C(l CO$ts 
Grant iuco:uc 
Pro,'iston for imp.1U:m1:nt ofin\\.--Stmcnt 
l.oss on salc!dispo,5,11 of Propc~', plont Md cquipm.en1 
(?,ofit)/l..o~s on s.ile of int-c:,m1cnt 
UnrcJ.lisc-:S foreign cx.chat1s,c Joss, nct 
011cr:.1ting c.uh flow bcfqrc worldn~ c:1pit:1I ch:m);!Cs 
Changes U'I t::1de rc;.:i\,abl¢.s 
Ch..1ugcs in in,·cn1ori,:s 
ChMSCS in loans, od~r lin:ui~iat 3.SScts and other a.~scL~ 
Ch.111gcs in trade pJyables, other fin:l~ci.11 li:ibilitit~ :rnd other li:ibili!ics 
Ch::m.s~ in prodsion 
Ca.-1h gct1cnue1I frum opcr.uion): 
Income 1:1,..:e!. {p:iirl) / refund rccci\'Cd (oct) 
Ne, cash j!cne.rntcd from opcrafin~ :icti\·itks (A) 
Cuh 1101\' Wom in,·csting attfritic.~ 
AC<juisiticn of Property, plan! :md equipment (including c~pi!d woik-ir.,proycss,ln111ngib!c nsscU ~d fa1:u,giblc asset~ 
un<lt!r clc,·dopmcn1,Copital Advances) 
Procexls from sale of propeny, p!am a."ld equipment 
Payrutnt made tow:mls oth.!! non curre.,t invesuncms 
fo\·~;lmcnl for acquisitior. of subsidi3ry and oclicrs 
Purd1xc. of Shon tcnn inn::stmc nt<: 
Proc,x:ds frorn sale of shon teem iuvc!itmc11ts 
IMcstmc.n1 in b:mkdcposit 
Proc;:ffils from bnnk dcposiu 
ln1crcst rccc:ivcd 
Nt:t i.:a~h "ll!icd in irm!sting activitic~ (8) 
Ca~h flow from fi11ancln~ acti,ilicJ 
Procccrl, fro1:l l◊ng--1crm bcrrowing.~ 
R.cp:i)'mC!tl. cf long-term bono\,inss 
Di,idcnd p~id Ol'I equity i;hnrc (nctofdi\'kknd re---.,..:i~cd 011 lrca!.my sh:ircs) 
Proceed.~ froll\ exercise <lf shnrc opl.ions 
lnlcr-.-st .u11! other l>omiwing COSIS 
Payment of lease liabili..iell'. 
Net C:t.\b from irnandn~ :.itt.i\'itic.s (C) 
Net incrC:lS{'. in cash and cash cquil'alcuts (A+B+q 
C:1sh .anti rnsh c«111iv:de;nts :it the bc1,•inning of 1hc )'tar 
Effl!Cts of e;..-:h:ictc gnini(!oss) on restat~-ment of forci~ currency ,;ash .1nd ca~h cquiVlllent~ 
C::1.~h !Ind c:ssh e11uirnk.nts nt the-end of the ~·ear 
P.irticulars Fur the ,,criud end~d 30 
S<.1111:mbcr '.?0:?~ 
lUnauditt•<n 
631.67 
1,267.84 
(ltl'J.&9) 
(160.!6) 
67.1S 
7AS 
691.42 
(30.77) 
[::..98 
(11.06) 
46.76 
6.36~,00 
(l,27'-27) 
(J00.49) 
(216.19) 
1,292.00 
t46.46 
6,211.51 
(212.l7i 
(5,526.39) 
3.78 
(503,7]) 
(6,677.82) 
6,578.20 
(390.99) 
1.083,79 
70.32 
(5.36?,8') 
1,742.14 
(840.81) 
(812.90) 
(,W0.93) 
,2~;;:.21 
38,89 
2,417.4] 
0.)7 
l,JS<,.69 ({ in million) 
for the pcrio1I tntkd 
JO Septcint>cr :!023 
fUnauditccn 
-1,107.33 
435.87 
U41.62 
(109,16} 
(7Cd2) 
(3.13) 
69.ll 
7.92 
(6.t7) 
5.31 
,iS7.99 
(H.63) 
6.90 
24.7g 
122.74 
6,12~.36 
(1,321.33) 
{30.52) 
(121.9;) 
980..51 
67.41 
5.698AS 
{3.J8A2) 
5,350,0G 
(3.9)6.2:>) 
. (t0.83) 
{5.978.30) 
3,246.42 
(I.687.10) 
1,615.25 
84.SS 
(6,666.27) 
2,595.6-1 
(642.37) 
(507,67) 
0.30 
(330.90) 
(2.:17.41) 
867.59 
(,US.62) 
1,445.9~ 
/1.81) 
995.51 
for ihc pl'.riod ~nd~d 30 For the peri<id coded 
September ?OH 30 Se11tcmbcr 2023 ------------------------------------------- -------~~•="="''=;'='d~•----~ru'!.11µdi1cdl 
Cash oo h.:ind 
Bal:m.:c with banks 
In cu1Tcnt ;iccout1ts 
In dcposit~cowtts (du: 10 m~tutc \\ithin 3 wont.h.s of the acqu!~ition.d:i.t~) 
Less: Bank owrd..-an used for c3Slt mt111;1:gem1.-n1 r:urposc" 
Cash .Ind c:ish equiv:llcolS io the statement of cash flow 
* Cash and cash equ)v.1lcnis include banko,·crdcafts th:u .:ue repayable on den1:uid aud form t:L, in1egr.:il p::rt ofth.:: Compilny's cosh uuoogcmcnt. 
Rttouciliation of lia1Jili1ies from fin:mcini?. aui,·itles for !he vcar cntlcd Sente11tber JO, 2024 
P:tniculars 
Borrowings (ir.c!uding current m.11urities nnd cxc!cde b:mk 0\-etdrafls) 
Total liabilitie s: from fin:mci~ .!I.Ctivities 
Rccnndliarion ofliubilitics from fin:111clui:. .acti\·ltie$ for the ,·c;ir ended St-plcmhcr 30. 20?.3 
f'llrticu!11n-
Oorrowing.s (im:!udi..'1£. C\lfTCn~ m.1turiti,1s and exclude: b:u1k on:nlr;ifls) 
Lease li:ihilitics 
Tot:i.1 thibilitie.~ from fo1:u1cin2 activilics Ai:.\\ 
I Anril 202-l 
14,216.30 
1,829.80 
16,046.10 
A$at 
1 Anril'.?O?J 
7,520.69 
1,219.36 
8,740.05 ! 
Proceeds I Rot1i:ffrncnt 
1,742.241 (840,81} 
• (245.21} 
1,1.i2.2.i I (1086.0:n 
Procee,l~ Re: 1an11c:11t 
2,595.64 (642.)7) 
(W.41) 
2595,6-1 (81'19. 78) Fairv;ihic/ 
other ch:m;2.e5 
312.21 
312.21 
i<ll.24 33.80 58.23 
2,J22.89 
2,-t56.69 
2,456.69 
forch::n ei.ch:ln:,!.e 
l6JH 
16.81 
11A4 
J2A-I 909.74 
1:50.00 
1,117.97 
(122.46} 
9%.51 
(? inmillioo) 
As11t 
30 Scotcmbcr 2024 
15,134.54 
l.S96.80 
Ii,031.J:I 
{" in million) 
Asat 
30 s~otcmber 2023 
9,486.40 
l.113,19 
Hl,599.59 Narayana Hrudayalaya Limited 
Rcgislcred office: No. 258/A, Uommasandra Industrial Arca, Anekal Taluk, 8cngaluru 5611099, Karnataka, India 
Corporate Office: 2nd Floor, No. 261/A, Bommasandra Industrial Arca, Hosur Road, Hengaluru 560099, Karnataka, India 
CIN: L85110KA2000PLC027497, Wcbsilc: www.narayanahcalth.org, Email: investorrcl ations@na rayanahcalth .org 
ADDITIONAL DlSCLOSURES AS PER REGULATION 52(4) OF SEBI (LISTJNG OBLIGATIONS AND DISCLSOURE REQUIREMENTS) 
RF.GULATIONS, 2015 
Quarter ended Six months ended Year ended 
SI.No. Particulars 30-Sep-24 30-Jun-24 30-Sco-23 30-Sco-24 30-Sco-23 31-Mar-24 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 
I Debt Equity Ratio 0.53 0.54 0.43 0.53 0.43 0.56 
2 Debt Service Coverage Ratio 2.60 3.27 4.32 3.00 3.96 3.20 
3 Interest Service coverage Ratio 7.60 7.81 11.87 7.70 11.37 10.17 
4 Current Ratio 1.55 1.52 l.55 1.55 1.55 L75 
5 Long tern, debt to working capital ralio 1.57 1.52 1.30 1.57 1.30 1.34 
6 Bad debts to Accounts receivable ratio -- - --. 
7 Current liability ratio 0.21 0.23 0.23 0.21 0.23 0.20 
8 Total debt to total asse1s ratio 0.24 0.24 0.20 0.24 0.20 0.26 
9 Debtors Turnover ratio 2.90 2.87 2.64 5.68 5.14 l l.76 
IO Operating margin(%) 22.03% 22.66% 23.61% 22.34% 22.80% 22.96% 
11 Net Profit margin(%) 14.20% 15.03o/«1 17.37% 14.60¾ 16.18% 15.74% 
12 Inventory turnover ratio 2.61 2.70 3.89 5.12 7.61 l 1.83 
13 Capital Redemption Reserve/Debenture Redemption 
Reserve NA NA NA NA NA NA 
14 Net worth['{ Million) (as per section 2(57) of 
Companies Act,2013) 32,056.51 30,829.19 25,017.19 32,056.51 25,017.19 28,836.81 
15 The Company has not issued any s_~cured listed non-
convertible debt securities 
Note: 
The above disclosure has been provided due to the additional requirements as per Regulation 52(4) Of SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 • Refer Note 3 to Consolidated Financial results.The figures for the quarter ended and six monlhs ended September 
30,2023 have been disclosed for comparison purposes. 
Formulae for computation of ratios are as follows 
S.no Particulars 
I Debt Equity Ratio 
2 Debt Service Coverage Ratio 
3 Interest Service coverage Ratio 
4 Current Ratio 
5 Long term debt to working capital ratio 
6 Bad debts to Accounts receivable ratio 
7 Current liability ratio 
8 Total debt to tottl assets ratio 
9 Debtors Turnover ratio 
JO Operating margin(%) 
11 Net Profit margin(%) 
l 2 lnvento1y turnover ratio Formulae 
Numerator Denominator 
Debt consist borrowings and lease liabilities Total Equity 
Earnings for debt service=Earnings before Debt Service~Fin ance Cost+Lease 
Interest and tax (EBlT) payrnents+principle repayments 
Profit before taxes+Finunce cost Finance Cost 
Total current assets Total current liabilities 
Long term borrowings(fncluding current Current assets (·)Current liabitics 
maturities oflong term borrowings) [Excluding current maturities of long term 
borrowings) 
Bad.Debts Average Gross trade receivables 
Total Current liabilities Total liabilities 
Total Borrowings Total Assets 
Revenue from Operations Average trade receivables 
Earnings before dcpreciation,finance Revenue from operations 
cost,tax and exceptional items (-) Other 
Income 
Net Profit after taxes Revenue from operations 
Cost of goods sold= Purchase of medical Average Inventory 
consumables, drugs and surgical 
instmmcnts+Changes in inventories 
medical consumables, drugs and surgical 
instruments    
  
 
Annexure - B 
 
Details of re-appointment of Dr. Emmanuel Rupert as the Managing Director & Group Chief 
Executive Officer 
 
Sl. No. Particulars  Details 
1. Name of Director  Dr. Emmanuel Rupert (DIN: 07010883)  
2. Reason for change viz. 
appointment, resignation, 
removal, death or otherwise  Re-appointment as Managing Director (Designated 
as Managing Director & Group Chief Executive 
Officer) with effect from February 11, 2025. 3. Date of appointment/ 
cessation (as applicable)  February 11, 2025 (Date of re-appointment). 
4. Term of appointment  Re-appointed for a period of 3 (Three) years with 
effect from February 11, 2025 
5. Brief Profile Dr. Rupert, an alumnus of the esteemed Banaras 
Hindu University, joined Narayana Health in 2000 as 
Chief Consultant - Anaesthesia and Director of 
Academic Services. Over the next 19 years, in 
various roles as a medical administrator, including 
Group Medical Director, he was instrumental in 
establishing and enhancing the clinical operations 
across the Group’s various divisions.  
 
Dr. Emmanuel Rupert serves as the Company’s 
Managing Director and Group Chief Executive Officer 
from 2019.  
 
His contributions to making affordable, high-quality 
healthcare accessible to millions of Indians are widely 
recognized. Dr. Rupert guided the organisation 
through the COVID-19 pandemic and led the 
Company’s swift turnaround and healthy business 
growth over the past four years by significantly 
enhancing clinical capability, continuing strong cost 
management programmes and establishing a solid 
foundation of clinical operations excellence.  
 
Dr. Rupert has overseen many greenfield and 
brownfield expansions during the course of his 
extensive career. He has guided the projects towards 
growth and profitability through his close 
involvement, perseverance, and determination. He is 
a staunch believer in the endless possibilities of 
leveraging technology holistically, is focused on 
establishing benchmarks in futuristic health care 
initiatives enabling Data Analytics, AI, and IOT. He is 
overseeing efforts to transform Narayana Health into 
an end-to-end digitally enabled organization, with the 
objective of ensuring the Company’s future 
preparedness. 6. Disclosure of relationship 
between Directors  Dr. Rupert is not related to any Director of the 
Company. 
 
 
 ~~ 
~Narayana 
Health 
Narayana Hrudayalaya Limited 
GIN: L8511 0KA2000PLC027497 
Registered Office: 258/A, Bommasandra Industrial Area, Anekal Taluk, Bangalore 560099 
Corporate Office: 261/A, 2nd Floor, Bommasandra Industrial Area, Anekal Taluk, Bangalore 560099 
Tel <PRESIDIO_ANONYMIZED_PHONE_NUMBER> I Fax <PRESIDIO_ANONYMIZED_PHONE_NUMBER> I Email: info@narayanahealth .org I www.narayanahealth.org Appointments 
186-0208-0208 
    
Assistant: