Apollo Hospitals Q2 Results FY27: 4 Nov Date and Base to Beat

Earnings · Apollo Hospitals Enterprise

Apollo Hospitals reports its September-quarter numbers on 4 November 2026. Here are the date, the revenue and margin base to beat, why two profit figures circulate, and the segment lines to read first.

Updated: Saturday, 31 October 2026, 12:00 PM IST  |  Reading time: 20 min  |  Next update: Wednesday, 4 November 2026, after the exchange filing

Latest update (Saturday, 31 October 2026, 12:00 PM IST): The results are not out. Reports of the company’s intimation give 4 November for the results and 5 November, 3:00 PM IST, for the call. The filing time is not announced. This page becomes the live analysis after the filing.

Earlier entries:

• Thursday, 15 October 2026, 5:25 PM IST: Whalesbook reported the 4 November publication date and the 5 November call.
• Wednesday, 12 August 2026: Apollo reported Q1 FY27 after market hours, as carried by Kotak Neo.

In plain words: A results preview is a checklist made before the numbers arrive. For a hospital group it means four marks: revenue, EBITDA margin, segment growth and profit on the right basis. Knowing last year’s marks lets you judge the new figures in minutes.

Data note: Figures are as of Saturday, 31 October 2026, 12:00 PM IST. The results date comes from reports of the company’s intimation; the filing itself was not opened for this page. Base figures are company results as reported by Upstox, Financial Express, Kotak Neo and Multibagg, which differ on profit. No estimate was found. Derived numbers are my calculation.

When are the Apollo Hospitals Q2 results?

The Apollo Hospitals Q2 results date is Wednesday, 4 November 2026. The company holds an earnings call on Thursday, 5 November at 3:00 PM IST.

Whalesbook, published at 5:25 PM IST on 15 October 2026, says Apollo will publish its financial statements and presentation on its website on Wednesday, 4 November, covering the three and six months ended 30 September 2026, and will hold the call on 5 November at 3:00 PM IST. Another report, from 21 October, says a board meeting to approve the results was set for 4 November, citing a filing dated 12 October. Kotak Neo’s weekly list of 30 October also places Apollo on Wednesday, 4 November. Three reports agree.

The filing time is not announced. Last year Apollo’s Q2 numbers were reported on Thursday, 6 November 2025, and the call was held on 7 November. Do not trust a screenshot that claims a time before the exchange page shows it.

What will the company publish?

The company will publish results for the three and six months ended 30 September 2026 along with an investor presentation. Apollo reports consolidated results with segment tables, so the presentation is the quickest place to find the segment lines. SEBI’s listing regulations give 45 days after quarter-end, which is 14 November 2026 (my calculation), so 4 November is well inside the limit.

Is the date confirmed?

Cite this table: PositionalCalls, “Apollo Hospitals Q2 FY27 Date Check, as of 30 October 2026”.

Treat any article that gives another date as unreliable until you see the filing. Apollo’s earnings call is a day after the results, so call commentary arrives after the numbers.

What is the base to beat for the Apollo Hospitals Q2 results?

The base to beat is Q2 FY26 revenue of Rs 6,304 crore and EBITDA of Rs 941 crore at a 14.94% margin, against Rs 7,043 crore and Rs 1,092 crore in Q1 FY27.

Cite this table: PositionalCalls, “Apollo Hospitals Base-to-Beat Table, as of 30 October 2026”.

Here is the first useful sum. Q1 FY27 revenue of Rs 7,043 crore is already +11.7% above Q2 FY26’s Rs 6,304 crore (7,043 divided by 6,304, my calculation), and Q1 EBITDA of Rs 1,092 crore is +16.0% above Q2 FY26’s Rs 941 crore. A flat Q2 would therefore show double-digit growth on both lines, with EBITDA growing faster than revenue.

How were the Q2 FY26 revenue and EBITDA built?

Upstox reported revenue of Rs 6,304 crore, up from Rs 5,589 crore, and EBITDA of Rs 941 crore, up from Rs 816 crore. Hospitals contributed Rs 3,169 crore, up 9%, with fewer Bangladesh patients trimming segment growth by about one point. Apollo HealthCo contributed Rs 2,661 crore, up 17%, and Apollo Health and Lifestyle Rs 474 crore of gross revenue, up 17%.

Apollo Hospitals EBITDA Q2 FY27: what do the margins show?

Consolidated EBITDA margin was 14.94% in Q2 FY26 against 14.59% a year earlier, a gain of about 35 basis points (my calculation; Upstox’s text says “two basis points”, which does not match its figures). Q1 FY27 was about 15.5% against 14.6%. Each Rs 100 crore of Q2 revenue at 15.5% adds Rs 15.5 crore of EBITDA (my calculation).

Apollo Hospitals Q2 results preview: what to expect

No Apollo-specific Q2 FY27 estimate was found for this page. The useful preview is the base, the scenario arithmetic and the segment marks.

Cite this table: PositionalCalls, “Apollo Hospitals Q2 FY27 Estimate Check, as of 30 October 2026”.

A “no estimate found” line is a finding, not a gap to fill with guesses. Sector previews exist for large banks and consumer companies, but none specific to Apollo surfaced. When a broker preview appears, set it against the base table and note whose base it uses.

What should the EBITDA margin do?

Q1 FY27 margin of about 15.5% is already higher than Q2 FY26’s 14.94%. A reading near 15.5% would suggest the improvement held. A reading near 14.9% would mean it faded. Pharmacy, which carries a thin margin, is growing at around 20%, so mix can pull the group margin down even if hospital margins hold.

How much of the group is pharmacy?

Apollo HealthCo revenue of Rs 2,977 crore was about 42% of Q1 FY27 revenue (2,977 divided by 7,043, my calculation) but only Rs 171 crore of EBITDA, a 6% margin. Healthcare Services was about 51% of revenue and Rs 862 crore of EBITDA at a 24% margin. A mix shift to pharmacy lowers the consolidated margin even when both segments grow.

Apollo Hospitals EBITDA and profit Q2 FY27: scenarios

These are arithmetic scenarios, not forecasts. A flat Q1 revenue would be +11.7% on Q2 FY26, and a flat Q1 EBITDA would be +16.0%.

Assumptions: consolidated; Q2 FY26 revenue Rs 6,304 crore and EBITDA Rs 941 crore; revenue growth of 15%, 18% and 21% on Q2 FY26 is my illustration around Q1’s 21%; margins of 14.9% (Q2 FY26), 15.5% (Q1 FY27) and 16.0%.

Cite this table: PositionalCalls, “Apollo Hospitals Q2 FY27 EBITDA Scenarios, as of 30 October 2026”.

Three worked examples

• Growth repeats at 21%: 6,304 times 1.21 is Rs 7,628 crore. At a 15.5% margin, EBITDA would be Rs 1,182 crore, which is +25.6% on Rs 941 crore.
• Growth slows to 15%: revenue would be Rs 7,250 crore, only +2.9% against Q1 FY27’s Rs 7,043 crore.
• Profit, matched bases: Q1 profit of 581 against 477.2 is +21.8% and 610 against 494 is +23.5%. Mixing the pairs gives +17.6% or +27.8%, which is wrong by several points.

The scenarios hold other lines constant. In practice depreciation, interest, tax, minority share and new-hospital start-up costs sit between EBITDA and profit, so EBITDA growth does not carry through one for one.

Which Apollo Hospitals profit figure should you compare?

Compare profit with profit on the same basis. Apollo has two sets of profit figures in circulation, and mixing them changes growth by several percentage points.

Cite this table: PositionalCalls, “Apollo Hospitals Definition-Trap Table, as of 30 October 2026”.

The Q1 FY26 base also differs: Rs 433 crore on the first basis and Rs 441 crore on the second. On matched bases Q1 FY27 growth was +34.2% and +38.3% (my calculation), and Multibagg’s 38.4% rests on the second pair. Apollo’s filing separates profit attributable to owners from total profit, so open both lines.

Apollo Hospitals net profit Q2 FY27: EBITDA versus profit

EBITDA is earnings before interest, tax, depreciation and amortisation. It leaves out new-hospital depreciation and interest, so it can grow faster than profit during an expansion. Q1 FY27 EBITDA grew 28% while profit grew about 34% or 38%, so profit grew faster in that quarter.

The estimate base trap

No estimate was found, but once one appears check its base. A broker whose Q2 FY26 profit is Rs 494 crore will show lower growth than one using Rs 477.2 crore for the same Q2 FY27 number.

What do Apollo’s segments need to show?

Hospitals earn most of the EBITDA, pharmacy adds most of the new revenue. The Q2 question is whether hospital margin holds near 24% while HealthCo grows near 20%.

Cite this table: PositionalCalls, “Apollo Hospitals Segment Marks, as of 30 October 2026”.

Q1 FY27 segment revenue is up on Q2 FY26 by +12.6% for hospitals, +11.9% for HealthCo and +5.3% for Health and Lifestyle (my calculation). Hospitals grew only 9% in Q2 FY26 with a Bangladesh drag, so the 22% in Q1 FY27 is a steep step up that Q2 has to hold.

Segment profit in Q1 FY27 was Rs 480 crore for hospitals, Rs 101 crore for HealthCo and a loss of Rs 1 crore for Health and Lifestyle, according to Kotak Neo. Hospital occupancy was 69% in Q2 FY26; the Q1 FY27 figure was not in the sources opened.

Which other results land the same week as Apollo?

Kotak Neo’s weekly list shows Dabur, BSE and NHPC on Wednesday, 4 November alongside Apollo, with Berger Paints and Thermax on Thursday.

The list is partial and dates may change. For the format of a results read, see our recent posts on LIC Q2 results, ITC Q2 results and Titan Q2 results. They cover other sectors, so only the method carries over. The Q2 results calendar lists the companies that have reported.

If you hold Apollo shares and plan to sell later, our guide to capital gains tax on shares covers how gains are taxed. It is general information, not tax advice.

How to read the Apollo Hospitals Q2 results in 10 minutes

Read seven lines in order: revenue, EBITDA, EBITDA margin, both profit lines, hospital segment, HealthCo segment and the notes.

Cite this table: PositionalCalls, “Apollo Hospitals Results-Day Decoder, as of 30 October 2026”.

How to read the Apollo Hospitals filing on NSE or BSE

Open the exchange announcement, find the consolidated statement and compare each line with the base table above, same measure, same basis.

1. Open the BSE corporate announcements page or the NSE corporate filings page and search for Apollo Hospitals Enterprise.
2. Choose the financial results announcement for the quarter ended 30 September 2026.
3. Find the consolidated statement first.
4. Check the unit and whether a column is for the quarter or six months.
5. Read revenue, EBITDA, total profit and profit attributable to owners.
6. Open the investor presentation for the segment table and occupancy.
7. Check the notes for exceptional items.
8. Compare every figure with the base table.

What it costs: reading a filing is free. If you trade the stock, brokerage, securities transaction tax and other charges apply, so check your broker’s current schedule. Tax angle: dividends and gains follow the current tax rules, so see our guide to capital gains tax on shares or ask a tax adviser. Scam warning: on results day, fake “result alert” groups and sure-shot tips circulate. Nobody can guarantee a gain, and official filings are free.

What is the results-day checklist for Apollo Hospitals?

• Confirm the date on the BSE or NSE announcement page.
• Note the filing time and stamp what you read with it.
• Open the consolidated statement before any headline.
• Compare revenue with Rs 6,304 crore and Rs 7,043 crore.
• Compare EBITDA with Rs 941 crore and Rs 1,092 crore.
• Check which profit line a headline quotes.
• Read hospital and HealthCo margins against 24% and 6%.
• Check the notes for one-off items.
• Write your own plan before the price moves.

What are the risks around the Apollo Hospitals Q2 results?

How to grade Apollo’s September-quarter numbers: a reading guide

Use the table as a reading aid, not a forecast. The cut-offs are my illustration, built from the Q1 FY27 marks and the Q2 FY26 base.

Assumptions: Q2 FY26 revenue Rs 6,304 crore and EBITDA Rs 941 crore; revenue growth cut-offs of 15% and 21%; margin cut-offs of 14.9% and 15.5%.

Cite this table: PositionalCalls, “Apollo Hospitals Q2 FY27 Reading Guide, as of 30 October 2026”.

Worked example: suppose revenue is Rs 7,300 crore, EBITDA Rs 1,100 crore, hospital margin 23% and HealthCo growth 18%. Revenue would be up +15.8% (7,300 divided by 6,304), EBITDA up +16.9% and the margin 15.1%, so revenue and margin read in line, EBITDA growth in line, hospital margin in line and HealthCo in line. Everything is in line, yet growth is lower than in Q1 FY27, so a headline of slower growth would not mean a weak quarter.

A strong reading describes the quarter only. It is not a signal to buy, sell or hold, and a weak one is not a signal either. Prices react to many things, including what the market already expected.

What do most people miss on Apollo results day?

Analyst’s note: how to think about this quarter

Part of the stock market research series.

Apollo Hospitals Q2 results: frequently asked questions

Sources

• BSE corporate announcements: where the Apollo filing appears.
• NSE corporate filings: financial results: the same filing on NSE.
• Whalesbook: Apollo Hospitals schedules Q2 earnings call, 15 October 2026.
• Kotak Neo: Apollo Hospitals Q1 FY27 results, August 2026.
• Multibagg: Apollo Hospitals Q1 FY27, August 2026.
• Upstox: Apollo Hospitals Q2 FY26 results, 6 November 2025.
• Financial Express: Apollo Hospitals profit rises 25% to Rs 494 crore, 7 November 2025.
• Kotak Neo: Q2 results this week, 30 October 2026.

Disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls is an independent research and education site founded by Shubham Chaudhary. Nothing here is a recommendation, target or investment advice. How I researched this: I checked the results date in three reports, took base figures from company results as reported by Upstox, Financial Express, Kotak Neo and Multibagg, noted where they differ, and marked every derived number as my calculation. Figures are as of Saturday, 31 October 2026, 12:00 PM IST.