Loading…
India's largest private hospital chain, also running pharmacies and a digital-health platform.
India's largest private hospital chain, also running pharmacies and a digital-health platform.
Hospitals earn most of the profit through bed occupancy, fees per patient and the mix of complex procedures. Pharmacy retail and the digital arm bring in a large share of sales but at much lower margins. Apollo was founded in 1983 as India's first corporate hospital chain.
In one line: India's HCA Healthcare plus a CVS-style pharmacy arm.
Moat: narrow (brand, scale, installed base). Strongest brand and largest bed/pharmacy network in Indian private healthcare builds patient and doctor trust.
Headquarters: Chennai, India · Founded: 1983 · Employees: 44,008
Size Apollo Hospitals Enterprise (APOLLOHOSP.NS) is an India Health Care company (Hospital/Nursing Management) with a market value of $12.8B, the 87th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹8,446 on 6 Nov 2026.
Performance Over six months the shares gained 7.8%, against +15.0% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 14 in its peer set.
Growth Revenue grew 19.2% over the last twelve months (peer median +13.1%); the operating margin is 12.1% (peer median 13.4%).
Valuation It trades at 49.3× forward earnings against a peer median of 36.5× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +13 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.7 points above its cost of capital (11.6% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹277B | ₹252B | ₹218B | ₹191B | ₹166B |
| Revenue growth | — | +16% | +14% | +15% | — |
| Gross profit | ₹93.1B | ₹47.7B | ₹40.2B | ₹34.9B | ₹29.9B |
| EBITDA | ₹42.6B | ₹38.1B | ₹30.6B | ₹24.1B | ₹20.8B |
| Net income | ₹22.4B | ₹19.4B | ₹14.5B | ₹8.99B | ₹8.19B |
| Free cash flow | n/a | ₹7.12B | ₹2.16B | ₹5.20B | ₹461M |
| Capital expenditure | n/a | ₹19.6B | ₹17.1B | ₹11.4B | ₹11.3B |
| Total debt | ₹81.5B | ₹84.9B | ₹78.6B | ₹53.3B | ₹43.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Apollo Hospitals Enterprise APOLLOHOSP.NS | $12.8B | +8% | +19% | 12% | 49.3× | 32.2% |
| Max Healthcare Institute MAXHEALTH.NS | $9.61B | -8% | +15% | 21% | 49.7× | 43.2% |
| Manipal Health Enterprises MANIPALHOS.NS | $9.01B | n/a | +25% | 19% | 63.1× | 29.7% |
| Fortis Healthcare FORTIS.NS | $6.13B | -19% | +18% | 17% | 45.0× | 41.0% |
| Narayana Hrudayalaya NH.NS | $4.11B | +3% | +71% | 13% | 36.5× | 31.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APOLLOHOSP.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.7% | +5.4% | 7th highest of 15 |
| 6-month return | +7.8% | +15.0% | 6th lowest of 14 |
| Distance from 52-week high | -6.9% | -12.9% | 6th highest of 15 |
| Revenue growth (TTM) | +19.2% | +13.1% | 5th highest of 15 |
| Operating margin | 12.1% | 13.4% | 7th lowest of 15 |
| Forward P/E | 49.3× | 36.5× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 32.2% | 11.2% | 4th most demanding of 13 |
| Growth delivered (Del g) | +19.0% | +9.1% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | +13.2 pp | +3.5 pp | 5th most demanding of 13 |
| ROIC minus cost of capital | +2.7 pp | -1.3 pp | 5th highest of 15 |
| EV / EBITDA | 29.9× | 24.7× | 6th most expensive of 13 |
| Net debt / EBITDA | 1.4× | 1.9× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Apollo Hospitals Enterprise APOLLOHOSP.NS | India | $12.8B | +8% | +19% | 12% | 49.3× | 32.2% | +19.0% |
| Universal Health Services UHS | United States | $11.5B | +15% | +8% | 11% | 8.7× | -1.2% | +8.5% |
| Max Healthcare Institute MAXHEALTH.NS | India | $9.61B | -8% | +15% | 21% | 49.7× | 43.2% | +27.2% |
| Manipal Health Enterprises MANIPALHOS.NS | India | $9.01B | n/a | +25% | 19% | 63.1× | 29.7% | +28.8% |
| Ramsay Health Care RHC.AX | Australia | $8.87B | +52% | +4% | 5% | 32.4× | 14.3% | +8.3% |
| PACS PACS | United States | $7.87B | +48% | +11% | 8% | 19.2× | 7.6% | +29.7% |
| Tenet Healthcare THC | United States | $22.5B | +49% | +6% | 17% | 14.0× | -1.2% | +3.9% |
| Chemed CHE | United States | $6.87B | +24% | +5% | 14% | 19.5× | 2.4% | +4.0% |
| Aster DM Quality Care ASTERDM.NS | India | $6.57B | -3% | +16% | 14% | 49.6× | 55.3% | -11.6% |
| Fortis Healthcare FORTIS.NS | India | $6.13B | -19% | +18% | 17% | 45.0× | 41.0% | +17.9% |
| Fresenius SE & Co. KGaA FRE.DE | Germany | $32.8B | +34% | +6% | 10% | 14.5× | 8.0% | -8.8% |
| Narayana Hrudayalaya NH.NS | India | $4.11B | +3% | +71% | 13% | 36.5× | 31.1% | +25.0% |
| Global Health MEDANTA.NS | India | $3.95B | +15% | +26% | 17% | 51.1× | n/a | n/a |
| National HealthCare NHC | United States | $3.27B | +11% | +7% | -8% | n/a | 7.9% | +9.7% |
| Krishna Institute of Medical Sciences KIMS.NS | India | $3.21B | +2% | +31% | 12% | 70.0× | n/a | n/a |