Hyderabad, November 3, 2026: Nephrocare Health Services Limited, which operates Asia’s largest dialysis network under the NephroPlus brand, announced its financial results for the second quarter and half year ended September 30, 2026.
The company reported H1FY27 revenue of ₹585.2 crore, representing a 23.6% year-on-year increase from ₹473.5 crore in H1FY26. Adjusted EBITDA grew 15.3% YoY to ₹134.4 crore, while Adjusted PAT increased 34.7% YoY to ₹76.1 crore.
Strong Growth in Treatments and Revenue Per Treatment
During H1FY27, NephroPlus delivered:
- 21.01 lakh treatments, up 12.6% YoY
- 38,814 guests, up 9.6% YoY
- Revenue per treatment of ₹2,785, up 9.7% YoY
For Q2FY27 alone:
- Revenue stood at ₹303.4 crore
- Adjusted EBITDA reached ₹68.9 crore
- Adjusted PAT stood at ₹39.3 crore, up 28.7% YoY
The company maintained a healthy adjusted EBITDA margin of 23.0% for H1FY27 while continuing to invest in talent and network expansion.
International Expansion Strengthens Growth
NephroPlus expanded its network to 570 clinics across six countries during the period, marking its entry into Kazakhstan through the acquisition of two clinics in Almaty.
The company’s international business now contributes approximately 47% of total revenue, highlighting the growing importance of global markets in its expansion strategy.
Other international developments during the period included:
- Expansion in the Philippines through ten acquisitions
- Growth of the Philippines network to 55 clinics
- Operationalisation of its Riyadh clinic in Saudi Arabia
- Launch of home dialysis services in Riyadh and Jeddah
Vikram Vuppala, Chairman & Managing Director, Nephrocare Health Services Limited, said: “Dialysis market across the world continues to grow due to the increasing burden of diabetes and hypertension as well as improving access due to various interventions. NephroPlus continues to grow healthily in India and international markets and expect margins to remain in healthy range.”
He added: “We are excited to open NephroPlus in Kazakhstan, which will be our sixth market. The two clinics we acquired are a good starting point for us to better understand the local market nuances before we start scaling this network in Kazakhstan.”
He also noted that the company has technically qualified in Saudi Arabia’s Ministry of Health tender process and recently launched NIDA (NephroPlus International Dialysis Academy) to train nurses from India and the Philippines for international expansion.
Strategic Initiatives and Clinical Focus
Rohit Singh, Group Chief Executive Officer, highlighted the company’s continued operational and clinical progress.
Key initiatives include:
- Pilot implementation of Peritoneal Dialysis in Punjab
- Nearly 50 patients onboarded under the pilot programme
- Analysis of dialysis frequency and vascular access barriers
- Deployment of automated patient feedback systems
- Increased investment in in-house technology capabilities to improve service delivery
The company believes these initiatives will further enhance patient outcomes while supporting sustainable long-term growth.
Strong Balance Sheet Supports Expansion
Prashant Goenka, Chief Financial Officer, said the company remains financially well-positioned to pursue growth opportunities.
Highlights include:
- ₹102 crore invested in capex during H1FY27
- Addition of 40 clinics in India
- Addition of 11 clinics in the Philippines
- Entry into Saudi Arabia and Kazakhstan
- 69% EBITDA-to-cash conversion
- More than ₹500 crore of liquidity available
The company stated that while new market expansion may temporarily impact margins during ramp-up phases, it remains focused on building a scalable and profitable global dialysis platform.
About Nephrocare Health Services Limited
Nephrocare Health Services Limited is Asia’s largest dialysis network, operating 570 dialysis centres under the NephroPlus brand across:
- India
- Nepal
- Philippines
- Uzbekistan
- Saudi Arabia
- Kazakhstan
The company delivers standardized dialysis services through a scalable and asset-light healthcare model and continues to expand its footprint across emerging and international markets.
