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Nephroplus Q1FY27 revenues grew 23.7% YoY

ICICIdirect Research 12 Aug 2026 DISCLAIMER

News: Nephroplus Q1FY27 revenues grew 23.7% YoY to ₹281.8 crore, driven by 13% growth in treatment and a 9%YoY increase in Revenue per Treatment. EBITDA for the quarter grew 32% YoY to ₹ 63.9 crore, as margins improved by 144 bps YoY to 22.7%, mainly driven by a 176 bps YoY improvement in GPM to 77.8%.

View: The performance was largely in line with expectations. The company continues to strengthen its India platform while operating profitably at some of the lowest price points globally. During the quarter, it expanded its clinic network in India by 19 clinics to 487 and in the Philippines by 7 clinics to 51, which should support further operating leverage. We expect to gain more insights into the growth outlook and margin trajectory following the management earnings call.

Impact: Positive

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