Executive Summary
The 12 filings from S&P BSE PHARMA constituents reveal a sector dominated by Apollo Hospitals, which accounts for 9 of the 12 filings, showcasing a mixed performance: strong YoY revenue and profit growth (13.7% and 15.1% respectively) but a notable QoQ slowdown in Q4 FY2026, with EBITDA margins compressing sequentially.
The most critical development is Apollo's strategic divestment of its Mother & Child and Fertility verticals to Kids Clinic India (Cloudnine) for an enterprise value of ₹15,500 million, creating a combined platform of 55+ centres backed by marquee investors—a move that signals a shift toward asset-light, high-growth partnerships. Insider activity is minimal, with no direct trades reported, but the SPARC acquisition filing by promoter-linked Shanghvi Finance suggests potential confidence in its pipeline. Capital allocation trends show Apollo maintaining a ₹10/share dividend (200% payout) while pursuing a subsidiary merger, indicating a balanced approach to returning cash and streamlining operations. Portfolio-level patterns highlight a divergence between robust annual performance and near-term deceleration, with Apollo's Q4 revenue growth of only 3.2% QoQ and flat EBITDA raising concerns about demand sustainability. The Zydus Lifesciences investment in Torrent Urja 25 (₹12.88 Cr for 22.06% stake) reflects a niche capital allocation move into energy, while Alkem and Mankind's earnings call announcements set the stage for upcoming sector-wide results. Overall, the sector shows resilience but faces margin pressure and a need for catalysts to sustain momentum.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: Board meeting · Company update · M&A · Corporate action
Tracking the trend? Catch up on the prior BSE Pharma Sector Regulatory Filings digest from May 19, 2026.
Investment Signals (11)
- Apollo Hospitals ↓ (BULLISH)▲
FY26 standalone revenue grew 13.7% YoY to ₹93,262 Mio and PAT grew 15.1% YoY to ₹14,926 Mio, with EPS rising to ₹103.81 from ₹90.15, outperforming sector averages
- Apollo Hospitals (Consolidated) (BULLISH)▲
Q4 FY26 consolidated revenue grew 18% YoY to ₹66,055 Mio and EBITDA grew 31% YoY to ₹10,109 Mio (15.3% margin), with PAT up 36% YoY to ₹5,292 Mio, indicating strong operational leverage
- Apollo Hospitals ↓ (BEARISH)▲
Q4 FY26 standalone revenue of ₹24,385 Mio grew only 3.2% QoQ from ₹23,637 Mio, and EBITDA declined sequentially to ₹5,935 Mio from ₹5,955 Mio, signaling a sharp deceleration
- Apollo Hospitals ↓ (BULLISH)▲
Healthcare Services segment reported 156,728 in-patients in Q4 FY26 (up 7% YoY) and ARPIP of ₹187,208 (up 9% YoY), with occupancy at 68% (established units 69%), showing strong pricing power and volume growth
- Apollo Hospitals ↓ (MIXED)▲
Digital Health segment (Apollo HealthCo) posted a cash loss of ₹16 Cr in Q4 FY26 (excluding ESOP), while Online Pharmacy Distribution EBITDA loss narrowed to ₹391 Mio from ₹1,253 Mio YoY, indicating improving but still negative profitability
- Apollo Hospitals ↓ (BULLISH)▲
Divestment of Mother & Child and Fertility verticals to Kids Clinic India at ₹15,500 Mio EV, with AHLL receiving cash and 9.9% equity stake, creating a combined platform of 55+ centres—a strategic move to unlock value and focus on core hospitals
- Apollo Hospitals ↓ (BULLISH)▲
Final dividend of ₹10/share (200% of face value) recommended, with record date August 14, 2026, and payment by September 10, 2026, reflecting consistent shareholder returns
- SPARC (BULLISH)▲
Substantial acquisition filing by promoter-linked Shanghvi Finance Pvt Ltd under SEBI SAST Regulations signals potential insider confidence in SPARC's pipeline or technology, though deal details are undisclosed
- Zydus Lifesciences ↓ (NEUTRAL)▲
Completed ₹12.88 Cr investment in Torrent Urja 25 for 22.06% stake, consummating a year-long process—a small but strategic diversification into energy, with no immediate pharma synergy
- Apollo Hospitals ↓ (BEARISH)▲
Standalone total expenses grew 12.8% YoY to ₹77,403 Mio from ₹68,613 Mio, outpacing revenue growth of 13.7% slightly, indicating cost pressures
- Apollo Hospitals (Correction) (BEARISH)▲
Subsidiaries ASHPL and AFCPL reported negative networth of ₹(153.84) Cr and ₹(38.33) Cr respectively, highlighting financial weakness in the divested entities
Risk Flags (9)
- Apollo Hospitals/QoQ Slowdown↓ [HIGH RISK]▼
Q4 FY26 standalone revenue growth of only 3.2% QoQ and flat EBITDA (₹5,935 Mio vs ₹5,955 Mio Q3) suggest demand fatigue or seasonal weakness, with margin compression risk
- Apollo Hospitals/Margin Compression↓ [MEDIUM RISK]▼
Standalone EBITDA margin for Q4 FY26 was 24.3% (₹5,935 Mio/₹24,385 Mio), down from 25.2% in Q3 FY26 (₹5,955 Mio/₹23,637 Mio), a ~90 bps sequential decline
- Apollo Hospitals/Digital Health Losses↓ [MEDIUM RISK]▼
Apollo HealthCo posted a cash loss of ₹16 Cr in Q4 FY26, and Online Pharmacy EBITDA loss of ₹391 Mio, indicating ongoing drag on profitability from digital ventures
- Apollo Hospitals/Subsidiary Negative Networth↓ [HIGH RISK]▼
ASHPL (turnover ₹351.53 Cr) has negative networth of ₹(153.84) Cr and AFCPL (turnover ₹100.05 Cr) has negative networth of ₹(38.33) Cr, raising concerns about financial health of divested entities
- SPARC/Uncertainty [MEDIUM RISK]▼
Lack of deal details in the substantial acquisition filing creates ambiguity about strategic intent, potential dilution, or change in control, with no financial impact disclosed
- Apollo Hospitals/Expense Growth↓ [MEDIUM RISK]▼
Standalone total expenses grew 12.8% YoY to ₹77,403 Mio, nearly matching revenue growth, limiting margin expansion potential
- Apollo Hospitals/Healthcare Services PAT↓ [MEDIUM RISK]▼
Healthcare Services PAT grew only 7% YoY in Q4 FY26 due to tax reversals in the prior year, indicating underlying earnings growth may be weaker than headline numbers
- Alkem Laboratories/No Data↓ [LOW RISK]▼
The analyst meet filing provides no financial figures or guidance, only a conference call date, offering no actionable insights and creating information gap
- Mankind Pharma/No Data↓ [LOW RISK]▼
The investor call filing only provides an audio recording link with no performance metrics, limiting transparency
Opportunities (8)
- Apollo Hospitals/Divestment Catalyst↓ (OPPORTUNITY)◆
The ₹15,500 Mio EV divestment of Mother & Child and Fertility verticals to Cloudnine, with AHLL receiving cash and 9.9% equity stake, unlocks value and allows focus on core hospital business—potential for re-rating as asset-light model emerges
- Apollo Hospitals/Consolidated Growth↓ (OPPORTUNITY)◆
Q4 FY26 consolidated revenue up 18% YoY, EBITDA up 31% YoY, and PAT up 36% YoY, with occupancy at 68% and ARPIP up 9% YoY—strong momentum in core healthcare services suggests upside if QoQ trends stabilize
- Apollo Hospitals/Dividend Yield↓ (OPPORTUNITY)◆
Final dividend of ₹10/share (200% payout) with record date August 14, 2026, offers a ~1.2% yield at current prices (assuming ₹830/share), providing income for long-term holders
- SPARC/Promoter Confidence (OPPORTUNITY)◆
Shanghvi Finance's substantial acquisition filing (promoter-linked entity) could signal confidence in SPARC's R&D pipeline or upcoming catalysts—watch for further disclosures on deal size and rationale
- Apollo Hospitals/Merger Synergy↓ (OPPORTUNITY)◆
Merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company could streamline operations and reduce costs, improving future margins
- Apollo Hospitals/Board Stability↓ (OPPORTUNITY)◆
Re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years and Ms. Rama Bijapurkar as Independent Director ensures leadership continuity, supporting long-term strategy
- Zydus Lifesciences/Diversification↓ (OPPORTUNITY)◆
The ₹12.88 Cr investment in Torrent Urja 25 for 22.06% stake, though small, provides exposure to the energy sector—potential for cross-sector synergies if pharma manufacturing energy needs align
- Apollo Hospitals/Online Pharmacy Improvement↓ (OPPORTUNITY)◆
Online Pharmacy EBITDA loss narrowed to ₹391 Mio from ₹1,253 Mio YoY (69% improvement), indicating path to profitability—if trend continues, could become a positive contributor
Sector Themes (6)
- Apollo Dominance with Mixed Signals◆
9 of 12 filings are from Apollo Hospitals, showing strong YoY growth (13.7% revenue, 15.1% PAT) but QoQ deceleration (3.2% QoQ revenue growth, flat EBITDA), highlighting a sector leader facing near-term headwinds
- Strategic Divestments and Consolidation◆
Apollo's divestment of Mother & Child and Fertility verticals to Cloudnine (₹15,500 Mio EV) and merger of Apollo Hospitals North Ltd reflect a trend toward portfolio optimization and focus on core strengths, potentially setting a precedent for other pharma/healthcare firms
- Digital Health Still a Drag◆
Apollo's Digital Health segment (HealthCo) posted a cash loss of ₹16 Cr, and Online Pharmacy EBITDA loss of ₹391 Mio, indicating that digital ventures in healthcare remain unprofitable despite improving trends—a sector-wide challenge
- Capital Allocation: Dividends Over Buybacks◆
Apollo's ₹10/share final dividend (200% payout) with no buyback activity suggests a preference for returning cash via dividends, while Zydus's small equity investment in Torrent Urja 25 indicates selective diversification—no aggressive share repurchase trends
- Insider Activity: Limited but Indicative◆
The only insider-related signal is SPARC's substantial acquisition filing by promoter-linked Shanghvi Finance, suggesting potential confidence in R&D pipelines, but no direct insider trades (buy/sell) were reported across all 12 filings, limiting conviction signals
- Earnings Season Kick-off◆
Alkem (May 28, 2026) and Mankind (May 20, 2026) have announced earnings calls, setting the stage for sector-wide Q4/FY26 results—watch for guidance and margin trends to validate or challenge Apollo's mixed performance
Watch List (8)
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Conference call on May 28, 2026 at 4:30 PM IST to discuss Q4FY26 and FY26 results—watch for revenue growth, margin trends, and guidance on US generics pipeline
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Audio recording of investor call held May 20, 2026 available on website—monitor for Q4 and FY26 performance, especially domestic formulation growth and margin trajectory
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AGM on August 25, 2026 with record date August 14, 2026 for final dividend of ₹10/share—watch for shareholder approval of divestment and leadership re-appointments
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After QoQ slowdown in Q4 FY26, Q1 FY27 results (expected August 2026) will be critical to assess if deceleration is temporary or structural—monitor occupancy, ARPIP, and margin trends
- SPARC/SAST Disclosure👁
Further disclosures on Shanghvi Finance's substantial acquisition (deal size, share count, rationale) expected under SEBI regulations—watch for strategic intent and potential impact on SPARC's valuation
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The divestment of Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India is subject to CCI and other regulatory approvals—monitor for completion timeline and cash inflow
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Monitor the performance of the 22.06% stake in Torrent Urja 25 and any future capital commitments, given the energy sector's volatility and small investment size
-
The negative networth of ASHPL and AFCPL (₹(153.84) Cr and ₹(38.33) Cr) may require further clarity on liabilities—watch for any contingent liabilities or adjustments in future filings
Filing Analyses
(12)
20-05-2026
Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in the prior year, and profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, the board also approved a transaction to divest its stake in Apollo Specialty Hospitals Private Limited and Apollo Fertility Centre Private Limited to Kids Clinic India Limited at an enterprise value of approximately ₹15,500 million, and approved the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company. A final dividend of ₹10 per share (200% of face value) was recommended.
- · The board declared that the statutory auditors have issued audit reports with unmodified opinion on the financial statements.
- · The record date for the final dividend and AGM is fixed as August 14, 2026.
- · The dividend, if approved, will be paid on or before September 10, 2026.
- · Dr. Prathap C Reddy was re-appointed as Executive Chairman for two years from June 25, 2026, subject to shareholder approval.
- · Ms. Rama Bijapurkar was re-appointed as Independent Director for a second term of five years from November 12, 2026 to November 11, 2031, subject to shareholder approval by special resolution.
- · The company's credit ratings are AAA (ICRA Ltd) and AA+ (Crisil Ltd).
- · No borrowings were made by way of issuance of debt securities during the year.
- · The standalone balance sheet shows total assets of ₹149,144 million as of March 31, 2026, up from ₹133,723 million a year earlier.
- · Net cash generated from operating activities was ₹20,591 million for FY2025-26, compared to ₹17,419 million in the prior year.
20-05-2026
Apollo Hospitals Enterprise Limited announced that its subsidiary Apollo Health and Lifestyle Limited (AHLL) is combining its Mother & Child and Fertility verticals (Apollo Cradle and Apollo Fertility) with Kids Clinic India Limited's (Cloudnine) maternity and fertility businesses to create one of India's largest integrated maternity and fertility care platforms. The transaction values AHLL's standalone Mother & Child and Fertility verticals at INR 1,550 Crore, with AHLL receiving a combination of cash and a 9.9% equity stake in the combined entity, making it the largest non-financial shareholder. The combined platform will have 55+ centres and is backed by marquee investors including Temasek, True North, and TPG NewQuest, but the combination is subject to regulatory approvals including CCI.
- · AHLL will have board representation in the combined entity through a nominee director.
- · Cloudnine Founders will continue to hold a minority stake in the combined entity.
- · The combined entity will be driven by a unified professional management team backed by a seasoned board.
- · The combination is subject to regulatory approvals, including from the Competition Commission of India (CCI).
- · Apollo Group operates over 10,400 beds across 76 hospitals, 6,600+ pharmacies, 264 clinics, 2,182 diagnostic centres, and 800+ telemedicine centres.
- · Apollo Group has performed over 3,00,000 angioplasties and 2,00,000 surgeries.
- · Apollo Group employs 1,20,000 family members.
20-05-2026
Alkem Laboratories Limited has announced a conference call to discuss its Q4FY26 and FY26 financial results, scheduled for May 28, 2026 at 4:30 PM IST. The call will be hosted by Motilal Oswal Securities Ltd. and will feature senior management including the MD, CEO, and CFO. No financial figures or performance data are provided in this filing.
- · Conference call date: Thursday, May 28, 2026
- · Call timing: 4:30 PM to 5:30 PM IST
- · Dial-in details provided for India, USA, UK, Singapore, and Hong Kong
- · Express join available via Diamond Pass
- · Call will follow the announcement of Q4 and FY26 financial results on the same day
20-05-2026
Mankind Pharma Limited held an investor conference call on May 20, 2026, to discuss Q4 and FY26 financial results. The audio recording of the call has been made available on the company's website. No specific financial figures or performance metrics were disclosed in this filing.
- · The audio recording of the investor call is available at https://www.mankindpharma.com/MankindPharma-Earnings-May20-2026.mp4
- · The call was held on May 20, 2026, following an earlier intimation dated May 08, 2026.
20-05-2026
Sun Pharma Advanced Research Company Ltd (SPARC) has disclosed a substantial acquisition filing under SEBI SAST Regulations for Shanghvi Finance Pvt Ltd and its PACs. The filing is a regulatory disclosure under Regulation 29(2) and does not provide any financial details, deal structure, or strategic rationale. The information is purely procedural, indicating a change in shareholding or control that triggered the disclosure requirement, but the specifics of the transaction are not disclosed in this filing.
- · The filing is a disclosure under Regulation 29(2) of SEBI SAST Regulations.
- · The acquirer is Shanghvi Finance Pvt Ltd and its Persons Acting in Concert (PACs).
- · No deal value, share count, or percentage changes are disclosed in this filing.
20-05-2026
Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and net profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter (₹23,637 million), and EBITDA for the quarter was ₹5,935 million versus ₹5,955 million in Q3 FY2026, indicating a slight sequential decline. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5), approved the re-appointment of Dr. Prathap C Reddy as Executive Chairman for two more years, and approved a transaction to divest stakes in Apollo Specialty Hospitals Private Limited and Apollo Fertility Centre Private Limited to Kids Clinic India Limited for an enterprise value of approximately ₹15,500 million (₹7,650 million cash + 9.9% equity stake).
- · Standalone EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25 (13.9% YoY growth).
- · Standalone total comprehensive income for FY2025-26 was ₹14,810 million, up from ₹12,965 million in FY2024-25.
- · Standalone basic EPS for FY2025-26 was ₹103.81, compared to ₹90.15 in FY2024-25.
- · Standalone borrowings (non-current + current) increased from ₹17,832.2 million at March 31, 2025 to ₹18,222.2 million at March 31, 2026.
- · The Board approved the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company via NCLT route.
- · The company's credit ratings: ICRA AAA and Crisil AA+.
- · No debt securities were issued during the year.
- · The AGM is scheduled for August 25, 2026 via video conferencing; record date for dividend and AGM is August 14, 2026; dividend payment on or before September 10, 2026.
20-05-2026
Apollo Hospitals Enterprise reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and net profit of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter's ₹23,637 million, and EBITDA margin declined sequentially. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5), approved the divestment of Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India for an enterprise value of ₹15,500 million, and approved the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company.
- · EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25.
- · Q4 FY2026 EBITDA was ₹5,935 million, compared to ₹5,955 million in Q3 FY2026 (flat).
- · Total standalone income for FY2025-26 was ₹96,980 million, up from ₹85,498 million.
- · Finance costs for FY2025-26 were ₹2,417 million, down from ₹2,540 million in FY2024-25.
- · The company's credit rating is AAA from ICRA and AA+ from Crisil.
- · Record date for dividend and AGM is August 14, 2026; AGM on August 25, 2026; dividend payment by September 10, 2026.
- · Re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026, subject to shareholder approval.
- · Re-appointment of Ms. Rama Bijapurkar as Independent Director for second term from November 12, 2026 to November 11, 2031, subject to special resolution.
- · Merger of Apollo Hospitals North Ltd into the company subject to NCLT and other approvals.
- · No debt securities issued during the year.
20-05-2026
Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2025-26, up 13.7% from ₹82,021 million in FY2024-25, and profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million was only 3.2% higher than the preceding quarter's ₹23,637 million, indicating a slowdown. The Board recommended a final dividend of ₹10 per share (200% of face value ₹5) and approved the divestment of subsidiaries Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India for an enterprise value of ₹15,500 million, as well as the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company.
- · Standalone EBITDA for FY2025-26 was ₹23,280 million, up from ₹20,442 million in FY2024-25.
- · Standalone total income for FY2025-26 was ₹96,980 million, up from ₹85,498 million.
- · Standalone total expenses for FY2025-26 were ₹77,403 million, up from ₹68,613 million.
- · Standalone finance costs for FY2025-26 were ₹2,417 million, down from ₹2,540 million.
- · Standalone other income for FY2025-26 was ₹3,718 million, up from ₹3,477 million.
- · The Board approved re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026.
- · The Board approved re-appointment of Ms. Rama Bijapurkar as Independent Director for a second term of five years from November 12, 2026 to November 11, 2031.
- · Record date for dividend and AGM is August 14, 2026; AGM on August 25, 2026; dividend payment on or before September 10, 2026.
- · Credit rating: AAA by ICRA Ltd and AA+ by Crisil Ltd.
- · No borrowings by way of issuance of debt securities during the year.
20-05-2026
Apollo Hospitals Enterprise Limited reported standalone revenue from operations of ₹93,262 million for FY2026, up 13.7% from ₹82,021 million in FY2025, and profit after tax of ₹14,926 million, up 15.1% from ₹12,963 million. However, Q4 FY2026 revenue of ₹24,385 million grew only 17.5% YoY but EBITDA margin declined sequentially. The Board approved a final dividend of ₹10 per share (200%), the divestment of subsidiaries Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India for an enterprise value of ₹15,500 million, and the merger of wholly owned subsidiary Apollo Hospitals North Ltd into the company.
- · The Board approved re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026, subject to shareholder approval.
- · The Board approved re-appointment of Ms. Rama Bijapurkar as Independent Director for a second term of five years from November 12, 2026 to November 11, 2031, subject to special resolution.
- · Record date for dividend and AGM is August 14, 2026; AGM on August 25, 2026; dividend payment by September 10, 2026.
- · Standalone EBITDA for FY2026 was ₹23,280 million, up 13.9% from ₹20,442 million in FY2025.
- · Outstanding qualified borrowings increased from ₹1,783.23 crore to ₹1,822.22 crore during FY2026.
- · Credit ratings: ICRA AAA and Crisil AA+.
- · The merger of Apollo Hospitals North Ltd into the company is subject to NCLT and other statutory approvals.
20-05-2026
Apollo Hospitals Enterprise Limited reported consolidated revenue of ₹66,055 Mio for Q4 FY26, up 18% YoY, and EBITDA of ₹10,109 Mio (15.3% margin), up 31% YoY. However, the Digital Health segment (Apollo HealthCo) posted a cash loss of ₹16 Cr for the quarter (excluding ESOP charges), and the Online Pharmacy Distribution segment reported an EBITDA loss of ₹391 Mio vs. a loss of ₹1,253 Mio in Q4 FY25. Overall PAT grew 36% YoY to ₹5,292 Mio, but Healthcare Services PAT growth was only 7% due to tax reversals in the prior year.
- · Healthcare Services segment reported 156,728 in-patients in Q4 FY26, up 7% YoY.
- · Average Revenue per In-patient (ARPIP) was ₹187,208, up 9% YoY.
- · Overall occupancy was 68%, with established units at 69%.
- · Apollo 24|7 had 47 Mn+ registered users and ~9 Lacs daily active users.
- · Offline Pharmacy Distribution operated 7,289 stores as of March 31, 2026.
- · Online Pharmacy Distribution EBITDA loss narrowed to ₹391 Mio from ₹1,253 Mio in Q4 FY25.
- · AHLL's Mother & Child and Fertility businesses valued at INR 1,550 Crore in a combination of cash and 9.9% equity stake in the combined entity (subject to CII approval).
- · AHLL operates 316 clinics, 2,501 diagnostics centers, 167 dialysis centers, and 280 dental centers.
- · Consolidated revenue for FY26 was ₹252,285 Mio (up 16% YoY), EBITDA ₹37,693 Mio (up 25% YoY), PAT ₹19,415 Mio (up 34% YoY).
- · Healthcare Services PAT growth of 7% in Q4 FY26 was impacted by tax reversals/adjustments in Q4 FY25.
20-05-2026
Apollo Hospitals Enterprise Limited issued a correction to its earlier Board Meeting outcome disclosure, revising the turnover and networth figures for two subsidiaries: ASHPL and AFCPL. ASHPL reported turnover of ₹351.53 crore and a negative networth of ₹(153.84) crore, while AFCPL reported turnover of ₹100.05 crore and a negative networth of ₹(38.33) crore.
- · The correction pertains to Annexure - 4, SI.No. 1 of the earlier Board Meeting outcome disclosure.
- · Both subsidiaries (ASHPL and AFCPL) have negative networth, indicating liabilities exceed assets.
20-05-2026
Zydus Lifesciences Limited and its subsidiaries have completed the subscription of equity shares in Torrent Urja 25 Private Limited, investing a total of ₹128.83 million (₹12.883 Cr) across four tranches. The final tranches (2, 3, and 4) of ₹90.18 million were subscribed on May 19, 2026, bringing the total stake to 22.06% of Torrent Urja 25's paid-up share capital. This transaction consummates the investment process initiated in May 2025.
- · The subscription was executed under a Share Subscription and Shareholders' Agreement (SSSA) dated May 28, 2025.
- · The investment was made by Zydus Lifesciences Limited and its various subsidiaries collectively.
- · The transaction was consummated on May 19, 2026.
- · The stake percentage (22.06%) remained the same after Tranche 1 and after the final tranches, indicating the investment was structured to maintain a consistent ownership level.
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