Executive Summary
The 11 filings reveal a bifurcated market: Apollo Hospitals and Bharti Airtel demonstrate strong operational momentum with double-digit revenue growth (13.7% and lifetime highs, respectively), while Sammaan Capital undergoes a radical restructuring, posting a massive ₹8,101 Cr net loss in Q4 FY26 driven by ₹6,499 Cr in exceptional items and a strategic portfolio repositioning.
The IPO pipeline is notably absent of new IPO filings, with the most actionable capital markets activity being Apollo's ₹15,500 Mio divestment of fertility and specialty hospital assets to Kids Clinic India, and U.P. Hotels' impending voluntary delisting from the BSE. A key cross-cutting theme is capital optimization: Apollo is streamlining via a subsidiary merger and asset sale, Sammaan is deleveraging after an ₹8,850 Cr IHC equity infusion, and Jay Bharat Maruti is cutting costs by delisting from the dormant Calcutta Stock Exchange. Insider activity is sparse but significant—Sammaan’s rating upgrades by all three agencies (CRISIL, CARE, ICRA) within 50 days of the IHC infusion signal strong institutional confidence in its turnaround. Forward-looking catalysts include Apollo’s AGM and dividend record date (Aug 14, 2026), U.P. Hotels’ delisting board meeting (May 28, 2026), and Sammaan’s plan to raise up to ₹10,000 Cr via debt, which could accelerate disbursals. Overall, the digest points to a market favoring quality compounders (Apollo, Airtel) over distressed plays, with limited near-term IPO supply.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: Company update · IPO · Board meeting · Corporate action
Tracking the trend? Catch up on the prior India IPO Pipeline SEBI Regulatory Filings digest from May 19, 2026.
Investment Signals (10)
- Bharti Airtel ↓ (BULLISH)▲
Consolidated revenue hit a lifetime high of ~₹2,11,000 Cr (FY26), with India mobile revenue share at a lifetime high. EBITDAaL margin of 51.2% is best-in-class. Dividend hiked 50% YoY to ₹24/share. Africa stake increase via share swap shows strategic conviction.
- Apollo Hospitals ↓ (BULLISH)▲
Standalone revenue grew 13.7% YoY to ₹93,262 Mio, PAT up 15.1% YoY to ₹14,926 Mio. Consolidated Q4 revenue up 18% YoY, EBITDA up 31% YoY. Occupancy at 68% (established units 69%) and ARPIP up 9% YoY to ₹187,208.
- Sammaan Capital ↓ (BULLISH)▲
Received triple rating upgrades (CRISIL AA+/Stable, CARE AA+/Stable, ICRA AA+/Stable) within 50 days of IHC's ₹8,850 Cr equity infusion, reflecting a dramatically strengthened capital position. Cost of funds already declining, enabling competitive pricing.
- Apollo Hospitals (Divestment) (BULLISH)▲
Divesting Apollo Specialty Hospitals and Apollo Fertility Centre to Kids Clinic India at an EV of ₹15,500 Mio (₹7,650 Mio cash + 9.9% equity). This unlocks value, reduces complexity, and provides capital for core hospital expansion.
- Sammaan Capital (Debt Raise) (BULLISH)▲
Board approved raising up to ₹10,000 Cr via debt/ECBs post the IHC infusion. With upgraded ratings, the company can access cheaper capital to accelerate disbursals and drive a growth turnaround.
- Bharti Airtel (ARPU Concern)▲
India mobile ARPU rose only ₹3 to ₹257, which management called 'unsatisfactory' due to the West Asia crisis impacting international roaming. This is a key metric to watch for margin expansion. [NEUTRAL/BEARISH]
- Apollo Hospitals (Q4 Slowdown) (CAUTIOUS)▲
Q4 FY26 standalone revenue grew only 3.2% QoQ, and EBITDA was flat QoQ (₹5,935 Mio vs ₹5,955 Mio). The sequential deceleration suggests near-term headwinds in the core hospital business.
- Apollo HealthCo (Losses) (BEARISH)▲
The Digital Health segment (Apollo HealthCo) posted a cash loss of ₹16 Cr in Q4 FY26 (ex-ESOP). While the online pharmacy loss narrowed, the digital business remains a drag on consolidated profitability.
- U.P. Hotels (Delisting) (SPECULATIVE BULLISH)▲
Board meeting on May 28, 2026 to consider voluntary delisting from BSE. This could lead to a significant price discovery event and potential premium payout to minority shareholders.
- Jay Bharat Maruti (Cost Cutting) (NEUTRAL)▲
Delisting from Calcutta Stock Exchange to reduce compliance costs. No trading on CSE for years—this is a positive governance move but has negligible impact on liquidity.
Risk Flags (8)
- Sammaan Capital (Massive Loss) [HIGH RISK]▼
Q4 FY26 net loss of ₹8,101 Cr (EPS -₹99.10) vs profit of ₹324 Cr in Q4 FY25. Driven by ₹6,499 Cr exceptional items and ₹2,958 Cr impairment. Full-year loss widened to ₹7,144 Cr from ₹1,807 Cr. This is a deep restructuring with execution risk.
- Sammaan Capital (Revenue Decline) [HIGH RISK]▼
Revenue from operations fell to ₹8,166 Cr in FY26 from ₹8,623 Cr in FY25 (-5.3% YoY). The strategic portfolio repositioning may continue to pressure top-line growth.
- Apollo Hospitals (Q4 Margin Compression) [MEDIUM RISK]▼
Standalone EBITDA margin in Q4 FY26 was 24.3% (₹5,935 Mio on ₹24,385 Mio revenue) vs 25.2% in Q3 FY26 (₹5,955 Mio on ₹23,637 Mio). Sequential margin decline of ~90 bps signals cost pressures.
- Bharti Airtel (ARPU Stagnation) [MEDIUM RISK]▼
ARPU growth of only ₹3 QoQ to ₹257 is well below inflation and management's own expectations. If the West Asia crisis persists, international roaming revenue—a high-margin stream—could remain depressed.
- Apollo Hospitals (Divestment Dilution) [LOW-MEDIUM RISK]▼
The ₹15,500 Mio deal includes a 9.9% equity stake in Kids Clinic India. If Kids Clinic underperforms, Apollo's minority stake could become a drag. Deal completion risk exists.
- U.P. Hotels (Delisting Uncertainty) [MEDIUM RISK]▼
Voluntary delisting from BSE could face opposition from minority shareholders on pricing. If the exit price is deemed unfair, it could lead to legal challenges or delays.
- Sammaan Capital (Debt Raise Dilution) [MEDIUM RISK]▼
The ₹10,000 Cr debt raise, while positive for growth, will increase leverage. If disbursal growth does not materialize, interest coverage could weaken.
- Apollo Hospitals (Cost Inflation) [LOW RISK]▼
Standalone total expenses rose 12.8% YoY to ₹77,403 Mio in FY26, slightly outpacing revenue growth of 13.7%. Any acceleration in employee or medical supply costs could compress margins.
Opportunities (8)
- Sammaan Capital (Turnaround Play) (OPPORTUNITY)◆
Triple rating upgrade to AA+/Stable by all agencies within 50 days of IHC infusion. Cost of funds declining, enabling competitive pricing. If the company successfully deploys the ₹8,850 Cr equity and ₹10,000 Cr debt raise, disbursals could accelerate sharply. Trading at a deep discount to book post-loss.
- Apollo Hospitals (Asset Monetization) (OPPORTUNITY)◆
The ₹15,500 Mio divestment of fertility and specialty hospitals provides a clean valuation benchmark. Proceeds can be redeployed into higher-growth core hospitals or used to reduce debt. The 9.9% stake in Kids Clinic offers upside optionality.
- Bharti Airtel (Dividend Growth) (OPPORTUNITY)◆
Dividend hiked 50% YoY to ₹24/share, implying a payout ratio that is still conservative. With EBITDAaL of ~₹1,08,000 Cr, the company has ample room for further dividend increases or buybacks.
- Apollo Hospitals (AGM Catalyst) (OPPORTUNITY)◆
Record date for dividend and AGM is August 14, 2026. The AGM will feature re-appointment of Dr. Prathap C Reddy as Executive Chairman for two more years, signaling leadership continuity. Dividend payout of ₹10/share (200% of face value) is a 15% YoY increase.
- U.P. Hotels (Delisting Premium) (OPPORTUNITY)◆
Voluntary delisting from BSE could result in a premium to market price for minority shareholders. The board meeting on May 28 will set the process in motion. If the company offers a fair price, this could be a quick arbitrage.
- Bharti Airtel (Africa Upside) (OPPORTUNITY)◆
Acquiring an additional 16.3% stake in Airtel Africa via share swap. Africa contributes 29% of consolidated revenues. If the African operations continue to grow (order book up 17%), this could be a significant value driver.
- Apollo Hospitals (Digital Health Improvement) (OPPORTUNITY)◆
Online Pharmacy Distribution EBITDA loss narrowed to ₹391 Mio from ₹1,253 Mio in Q4 FY25 (-69% YoY). If this trend continues, the digital segment could turn profitable sooner than expected.
- Sammaan Capital (International Rating Upgrade) (OPPORTUNITY)◆
The company expects the domestic rating upgrades to improve international ratings. An upgrade by Moody's or S&P would open access to cheaper foreign currency debt, further reducing cost of funds.
Sector Themes (6)
- Capital Optimization & Restructuring (SECTOR THEME)◆
Three companies (Apollo, Sammaan, Jay Bharat Maruti) are actively restructuring—Apollo via asset sales and mergers, Sammaan via a massive balance sheet cleanup and equity infusion, and Jay Bharat via delisting from a dormant exchange. This suggests a broader trend of companies streamlining for efficiency.
- Quality Compounders Outperform (SECTOR THEME)◆
Apollo Hospitals (13.7% revenue growth, 15.1% PAT growth) and Bharti Airtel (lifetime high revenue, 51.2% EBITDA margin) demonstrate that market leaders are delivering consistent double-digit growth with strong margins. Investors are likely to continue rewarding these compounders.
- Credit Rating Momentum as a Signal (SECTOR THEME)◆
Sammaan Capital's triple upgrade within 50 days is a powerful signal of a fundamental turnaround. In a market where credit is tightening, rating upgrades can be a leading indicator of improved access to capital and lower costs.
- Healthcare Consolidation via M&A (SECTOR THEME)◆
Apollo's divestment of fertility and specialty hospitals to Kids Clinic India (₹15,500 Mio EV) reflects a trend of consolidation in the Indian healthcare space, where larger players are focusing on core strengths while smaller, specialized chains scale up.
- Dividend Growth vs. Reinvestment (SECTOR THEME)◆
Bharti Airtel (50% dividend hike) and Apollo (15% dividend increase) are returning more cash to shareholders while still investing in growth. This balance is attractive for income-oriented investors in a rising-rate environment.
- Digital Health Still a Drag (SECTOR THEME)◆
Apollo's HealthCo digital segment remains loss-making (₹16 Cr cash loss in Q4), despite narrowing pharmacy losses. The path to profitability for digital health in India remains uncertain, and investors should monitor this closely.
Watch List (8)
- U.P. Hotels (Board Meeting)👁
May 28, 2026 board meeting to discuss voluntary delisting from BSE. Watch for the proposed exit price and timeline. If a premium is offered, this could be a near-term catalyst. [DATE: May 28, 2026]
- Apollo Hospitals (AGM & Record Date)👁
Record date for dividend and AGM is August 14, 2026. Watch for shareholder approval of the Kids Clinic India divestment and Dr. Reddy's re-appointment. Dividend payment by September 10, 2026. [DATE: Aug 14, 2026]
- Sammaan Capital (Debt Raise Execution) (ONGOING)👁
The company has approval to raise up to ₹10,000 Cr via debt/ECBs. Watch for the timing and terms of the first tranche. A successful raise at lower rates would confirm the rating upgrade benefits.
- Bharti Airtel (ARPU Trajectory) (NEXT QUARTER)👁
Management flagged unsatisfactory ARPU growth. Watch Q1 FY27 results for ARPU trends. If ARPU fails to cross ₹270, it could signal structural headwinds in the mobile business.
- Apollo Hospitals (Q1 FY27 Performance) (NEXT QUARTER)👁
After a flat QoQ EBITDA in Q4 FY26, watch for a rebound in Q1 FY27. Occupancy trends and ARPIP growth will be key. Any further deceleration would be a red flag.
- Sammaan Capital (International Rating) (ONGOING)👁
Watch for any upgrade by Moody's or S&P following the domestic upgrades. An international upgrade would be a strong catalyst for the stock and debt instruments.
- Apollo HealthCo (Profitability Path) (ONGOING)👁
The digital health segment's cash loss narrowed. Watch for any guidance on breakeven timeline. If the online pharmacy continues to reduce losses, it could become a value unlock.
- Bharti Airtel (Africa Stake Closure) (ONGOING)👁
The share swap to acquire an additional 16.3% in Airtel Africa requires regulatory approvals. Watch for completion timeline and any impact on consolidated debt.
Filing Analyses
(11)
20-05-2026
Bharti Airtel reported consolidated revenue of ~₹2,11,000 Crore for FY2026, a lifetime high, with EBITDAaL of ~₹1,08,000 Crore (margin 51.2%). Q4 FY2026 consolidated revenue was ~₹55,400 Crore, up 2.6% sequentially, but India mobile ARPU rose only ₹3 to ₹257, which management called unsatisfactory partly due to the West Asia crisis impacting international roaming. The Board approved a share swap to acquire an additional 16.3% stake in Airtel Africa, and recommended a dividend of ₹24 per share (up from ₹16).
- · Africa accounts for 29% of consolidated revenues.
- · India mobile revenue share reached a lifetime high.
- · Airtel Business order book grew 17% in FY2026.
- · Digital businesses revenue grew 27% in FY2026.
- · Net debt to EBITDAaL improved to 1.1x.
- · Board approved a share swap to acquire additional 16.3% in Airtel Africa (no cash deal).
- · Geopolitical crisis impacting international roaming, capex due to INR depreciation, and energy prices.
- · Women workforce representation improved from 11% in 2023 to over 20%.
- · Airtel Money received RBI approval to operate as an NBFC (non-deposit taking).
- · Nxtra announced a $1 billion fund raise from marquee investors.
- · Airtel Cloud secured 24 deals in FY2026 with additional wins in April.
20-05-2026
ICRA, an affiliate of Moody's, upgraded Sammaan Capital Limited's long-term debt rating to 'ICRA AA+/Stable' and removed it from 'Rating Watch with Developing Implications'. This completes a full upgrade cycle by all three domestic rating agencies (CRISIL, CARE, ICRA) within 50 days of IHC's equity infusion on March 31, 2026, reflecting strengthened capital position and strategic support from IHC. The company expects the upward rating trajectory to improve international ratings and has already seen a meaningful reduction in cost of funds, enabling more competitive pricing and accelerated disbursals.
- · CRISIL upgraded the Company's ratings to 'CRISIL AA+/Stable' on April 9, 2026.
- · CARE Ratings upgraded the Company's ratings to 'CARE AA+; Stable' on May 12, 2026.
- · ICRA completed its upgrade to '[ICRA]AA+/Stable' on May 20, 2026.
- · IHC's investment in the Company occurred on March 31, 2026.
- · The Company expects positive movement on international ratings in the coming quarters.
- · The sequential rating upgrades have already translated into a meaningful improvement in the Company's cost of funds.
20-05-2026
U.P. Hotels Ltd. has scheduled a Board Meeting on May 28, 2026 to approve audited financial results for Q4 and FY 2025-2026, consider dividend, and discuss matters related to the voluntary delisting of its equity shares from BSE Limited, following a SEBI letter dated Dec 3, 2024. The trading window has been closed since April 1, 2026 and will reopen 48 hours after results are declared.
- · Board meeting date: Thursday, May 28, 2026
- · Agenda includes approval of audited financial results for the financial year and quarter ended March 31, 2026
- · Dividend consideration is on the agenda
- · Voluntary delisting reference: SEBI letter dated December 3, 2024
- · Trading window closed from April 1, 2026; will open 48 hours after results declaration
- · Company operates hotels under the 'Clarks' brand in Agra, Lucknow, Jaipur, and Khajuraho
- · Scrip Code on BSE: 509960
20-05-2026
For the quarter ended March 31, 2026, Sammaan Capital reported a net loss of ₹8,101.41 crore (EPS -₹99.10) from a total income of ₹1,361.32 crore, compared to a profit of ₹324.04 crore in the same quarter last year. The massive loss was driven by exceptional items of ₹6,499.17 crore and an impairment charge of ₹2,958.08 crore, reflecting a strategic portfolio repositioning. Full year net loss widened to ₹7,144.56 crore from ₹1,807.46 crore in FY25, while revenue from operations declined to ₹8,166.16 crore from ₹8,623.33 crore. However, the company raised ₹8,850 crore through a preferential issue from IHC, received multiple credit rating upgrades (CRISIL AA+/Stable, CARE AA+/Stable), and the Board approved raising up to ₹10,000 crore via debt instruments.
- · Audit reports issued with unmodified opinion on standalone and consolidated financial statements.
- · No deviation or variation in utilisation of proceeds from issue of equity shares and NCDs during Q4 FY26.
- · Security cover certificate for Q4 FY26 filed under Regulation 54.
- · Joint Statutory Auditors issued unmodified audit reports.
- · Moody's upgraded long-term CFR to B1 with positive outlook.
- · CRISIL upgraded rating to CRISIL AA+/Stable.
- · CARE upgraded long-term debt to CARE AA+/Stable, CP reaffirmed at CARE A1+, perpetual debt upgraded to CARE AA/Stable.
- · Net gain on fair value changes doubled YoY in FY26 (₹969.33 Cr vs ₹535.60 Cr).
- · Impairment on financial instruments in FY26 declined to ₹3,627.94 Cr from ₹5,068.50 Cr YoY, but Q4 FY26 saw a massive spike.
- · Share capital increased from ₹162.70 Cr to ₹228.76 Cr due to preferential allotment.
- · Basic EPS for FY26: -₹87.72 (vs -₹26.70 in FY25); Diluted EPS: -₹87.72 (vs -₹26.70).
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 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
Sammaan Capital Limited (formerly Indiabulls Housing Finance) reported audited consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The results include a significant exceptional loss of ₹6,499.17 crore and other comprehensive loss of ₹652.78 crore due to a change in business model for a pool of loan exposures and sale to an ARC. The Board also approved an enabling resolution to raise up to ₹10,000 crore through debt instruments or ECBs.
- · Audited standalone and consolidated financial results for quarter and year ended March 31, 2026, with unmodified audit opinion.
- · Board meeting held on May 20, 2026, commenced at 2:00 PM and concluded at 3:30 PM.
- · No deviation or variation in utilization of proceeds from issue of equity shares and non-convertible debentures during the quarter.
- · Certificate of Security Cover for the quarter ended March 31, 2026, filed pursuant to Regulation 54.
- · Management overlay recognized over and above ECL provision, approved by Board on March 30, 2026 and May 15, 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 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
Jay Bharat Maruti Limited has initiated the voluntary delisting of its equity shares from the Calcutta Stock Exchange (CSE), as approved by the board on May 19, 2026. The company emphasized that there has been no trading activity on the CSE for several years, making continued listing costly and without meaningful benefit to shareholders. Shares will continue to be listed and traded on NSE and BSE, which offer nationwide liquidity. This move is intended to reduce avoidable compliance and listing costs.
- · Board approved delisting from CSE on May 19, 2026, and a public notice was published in Business Standard (English, Hindi), and Duranta Barta (Bengali) on May 20, 2026
- · The delisting re-application is in continuation of the company's earlier application to delist from CSE in 2003, which was approved by members in the 16th AGM held on August 21, 2003
- · There has been no trading activity in the company's equity shares on CSE for several years
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