Narayana Hrudayalaya : Result Announcement - Q1 FY 2023

PRESS RELEASE

Q1 FY23 Consolidated operating income at Rs 10,334 mn (Y-o-Y of 20.2%) with EBITDA* of Rs 2,000 mn (Y-o-Y of 42.5%)

Bengaluru, India, August 8th, 2022 - Narayana Hrudayalaya Limited, a leading healthcare service provider in India, today announced its financial results for the first quarter (Q1 FY23) ended June 30th, 2022.

Financial Highlights for the Quarter (Q1 FY23) Prepared in accordance with Ind AS ('Indian Accounting Standards')

• Consolidated total operating income was Rs 10,334 mn for Q1 FY23 as compared to Rs 8,601 mn in the corresponding period of the previous year and Rs 9,407 mn in Q4 FY22, reflecting an increase of 20.2% YoY and 9.9% QoQ growth respectively
• Consolidated EBITDA* stood at Rs 2,000 mn, reflecting a margin of 19.4% as against Rs 1,404 mn in Q1 FY22 and Rs 1,848 mn in Q4 FY22 translating into YoY growth of 42.5% and QoQ growth of 8.2% respectively
• Consolidated PAT* stood at Rs 1,106 mn, reflecting a margin of 10.7% as compared to Rs 762 mn in Q1 FY22 and Rs 690 mn in Q4 FY22 translating into YoY growth of 45.1% and QoQ growth of 60.4% respectively

• This is as per the new accounting treatment for leases per IND AS 116 effective 1st April 2019 which resulted in Rs 144 mn increase in EBITDA and increase of Rs 2 mn in PAT for Q1 FY 23 on a like-to-like basis (pre-IND AS 116)

As on June 30th, 2022, the Total Borrowings less Cash & Bank Balance and Current Investments was Rs 829 mn representing a net debt to equity ratio of 0.05. (Out of which, borrowings worth US$ 28.0 mn is foreign currency denominated).

Other Highlights during the Quarter

• Operationalizing 3 additional operating rooms, Narayana Institute of Cardiac Sciences (NICS), Bengaluru performed 2,027 cardiac surgical cases during the quarter and also reported the highest ever monthly cathlab procedure volumes of 1,687 in May 2022
• Rabindranath Tagore International Institute of Cardiac Sciences (RTIICS), Kolkata successfully bridged a patient with end-stage heart failure to transplant with CentriMag biventricular assist device (BiVAD); the unit also has to its credit successful implantation of suture-less aortic valve, the first such case in the eastern India region
• Significant momentum in tertiary and quarternary clinical activity ensured that 75 Bone Marrow Transplants, 20 Liver Transplants, 8 Heart Transplants and 192 Renal Transplants were successfully performed across the group in Q1 FY 23
• Focusing upon cutting edge advanced care, 30 Transcatheter aortic valve implantation (TAVI) procedures as well as 125 robotic interventional procedures were performed across the group in Q1 FY 23
• NH SRCC, Mumbai successfully performed Craniosyntosis, a complex procedure in the craniofacial surgical segment for paediatric patients

Management Comment

Commenting on the performance, Dr. Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said "With the near normalization of services post the onset of pandemic leading to an all-roundstrong uptick in performance across our units, we are pleased to report record profitability for our Indian operations during the quarter gone by, surpassing the previous highs witnessed in Q3 FY22. Complemented by our steady overseas operations at Cayman Islands, overall, we remain well-placedto build further upon this business momentum notwithstanding any fresh Covid-19related uncertainties.

Looking ahead, while continuing to consolidate our operations, we would look to pursue growth opportunities both in India and overseas to derive synergies from our robust existing operations to maximize value for all our stakeholders. With lives and livelihoods of the community at the core, in standing with solidarity with all, we remain committed to deliver quality affordable healthcare to all."

About Narayana Hrudayalaya Limited

Founded in 2000 by Dr. Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Limited is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The Company has a network of 20 hospitals and 4 heart centres across India along with overseas presence across a hospital at Cayman Islands and a managed hospital at St. Lucia with over 6,000 operational beds across all its centres & potential to reach a capacity of over 6,300 beds.

For further details, please contact us at investorrelations@narayanahealth.org

Q1 FY23 Result Conference Call

At 2:30 PM, IST on August 11th, 2022

Following the announcement of the first quarter (Q1 FY23) ended June 30th, 2022 results on August 8th, 2022, the management of Narayana Hrudayalaya Limited will host a conference call to discuss the Company's performance on August 11th, 2022 at 2:30 pm IST.

Details of the conference call are as under: