Apollo Hospitals re-appoints Rama Bijapurkar as Independent Director

Apollo Hospitals has approved the re-appointment of Ms. Rama Bijapurkar as an Independent Director for a second term. The Board of Directors approved the proposal based on the recommendation of the Nomination and Remuneration Committee. The re-appointment is subject to the approval of the company's shareholders by way of a special resolution at the ensuing Annual General Meeting.

Ms. Bijapurkar's first five-year term as an Independent Director is set to expire on November 12, 2026. The new term will commence immediately following the conclusion of her current tenure and will extend for five consecutive years until November 11, 2031. The company confirmed that she is not debarred from holding the office of director by any order passed by SEBI or other authorities.

Re-appointment Details

The board meeting to finalize the re-appointment was held on May 20, 2026. The decision aligns with the provisions of Section 149 of the Companies Act, 2013, and Regulation 16 & 25 of the SEBI Listing Regulations, 2015. Ms. Bijapurkar is not related to any Directors or Key Managerial Personnel of the company.

Particulars	Details
Name of Director	Ms. Rama Bijapurkar
Current Term Expiry	November 12, 2026
New Term Start Date	November 12, 2026
New Term End Date	November 11, 2031
Tenure Duration	5 Years
Approval Required	Shareholders via Special Resolution

Profile of Ms. Rama Bijapurkar

Ms. Rama Bijapurkar is a recognized thought leader on business-market strategy and India's consumer economy. She brings over four decades of experience in consulting, research, and teaching, focusing on customer centricity in business strategy and public policy. She is among India's most experienced independent board directors, having served on the boards of several blue-chip companies across financial services, IT, energy, and consumer packaged goods sectors.

She holds a BSc (Hons) degree in Physics from Delhi University and a post-graduate diploma in management from the Indian Institute of Management, Ahmedabad. Her professional background includes tenure with McKinsey & Company, MARG (now Nielsen India), and Mode Services (now TNS India), alongside running her own consulting practice.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.65%	+3.00%	+7.99%	+13.14%	+19.74%	+157.49%

Apollo Hospitals Enterprise Limited has announced its financial results for the quarter and year ended March 31, 2026, reporting strong growth across key metrics. The company reported consolidated revenue of ₹66,055 million for Q4 FY26, compared to ₹55,900 million in the same period last year, reflecting an 18% year-over-year increase. Consolidated Profit After Tax (PAT) for the quarter stood at ₹5,292 million, up from ₹3,900 million in the prior year period, growing by 36% year-over-year. Following the results, the company has made the audio recording of its analyst call available on its website.

Consolidated Financial Performance

The company's EBITDA for the quarter grew by 31% to ₹10,100 million, compared to ₹7,700 million in the year-ago period, while the EBITDA margin expanded to 15.31% from 13.76% year-over-year. The growth was driven by strong performance across its Healthcare Services, Diagnostics & Retail Health, and Digital Health & Pharmacy Distribution segments.

Metric	Q4 FY26	Q4 FY25	YoY Change
Consolidated Revenue	₹66,055 mio	₹55,900 mio	+18%
EBITDA	₹10,100 mio	₹7,700 mio	+31%
EBITDA Margin	15.31%	13.76%	+155 bps
PAT	₹5,292 mio	₹3,900 mio	+36%

Segment Performance

Healthcare Services revenue grew by 16% to ₹32,678 million, with an EBITDA of ₹7,806 million. Apollo Health & Lifestyle Ltd (AHLL) reported a 24% increase in revenue to ₹4,895 million, driven by a 52% growth in Diagnostics. Apollo HealthCo's revenue rose by 20% to ₹28,482 million, with the segment achieving a PAT of ₹1,076 million, a significant increase compared to the previous year.

Management Commentary

Apollo Hospitals management stated that hospital business margins are expected to return to normal levels. The company also expressed confidence in its newer facilities, indicating that the Kolkata hospital is expected to turn profitable within one year. On the digital front, management stated that Apollo 24/7 is set to reach cash breakeven in Q1 FY27, with reduced digital losses expected to increase HealthCo margin to 6.5–7% by year-end.

Strategic Transactions

The Board approved a transaction involving Apollo Health and Lifestyle Limited (AHLL) and Kids Clinic India Limited (Cloudnine). As part of the deal, Apollo Hospitals has merged its Cradle business with Cloudnine at a 35X EBITDA multiple. AHLL will 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. The consideration includes ₹7,650 million in cash and an equity stake of approximately 9.9% in Kids Clinic India Limited, along with a board seat.

Parameter	Details
Transaction	Merger of Cradle business with Cloudnine
Valuation Multiple	35X EBITDA
Enterprise Value	₹15,500 million
Cash Consideration	₹7,650 million
Equity Stake Retained	~9.9% in Kids Clinic India Limited
Board Seat	Retained by Apollo Hospitals

Analyst Ratings

Following the Q4 FY26 results, two prominent brokerages have reaffirmed their positive outlook on Apollo Hospitals. Morgan Stanley maintained an 'Overweight' rating with a target price of ₹8,833, citing an EBITDA beat driven by operating leverage and strong hospital revenue. Macquarie retained an 'Outperform' rating with a target price of ₹6,230, noting a modest beat across revenue and EBITDA alongside the strategic Cloudnine transaction.