Interim report
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November 3, 2026 Ref: NEPHROPLUS/SE/95 To BSE Limited P.J. Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 544647 Through: BSE Listing Centre To National Stock Exchange of India Limited 5th Floor, Exchange Plaza, Bandra (E), Mumbai – 400 051 Scrip Symbol: NEPHROPLUS Through: NEAPS Sub: Outcome of the Board Meeting held on November 3, 2026 Ref: Regulation 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Ma’am, Pursuant to Regulations 30, 33 and other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we hereby inform that the Board of Directors of the Company, at its meeting held today, i.e., Tuesday, November 3, 2026, inter alia, considered and approved the Un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026. The aforesaid Financial Results, along with the Limited Review Report issued by M/s. B S R and Co., Chartered Accountants (Firm Registration No. 128510W), Statutory Auditors of the Company, are enclosed herewith. The meeting of Board of Directors commenced at 04:00 p.m. IST and concluded at about 05:20 p.m. IST. A copy of this disclosure is also made available on the website of the Company www.nephroplus.com Yours faithfully, For Nephrocare Health Services Limited (Formerly Nephrocare Health Services Private Limited) Kishore Kathri Company Secretary and Head Legal Membership No.: F9895 Encl: a/a ~)] nephroplus Nephrocare Health Services Lim ited (Global Co, pore,te Headquarters) (Formerly Nephrocare Health Services Pr1vate L11n1ted) s~ Floor. D Block , ,Labs Centre, Plot 18, Software Units Layout. Survey No 64, Madhapur, Hyderabad - 500 081. Telangana . India ~ +91 40 4240 8039 B contac tus@nephrop lus com e www nephroplus com CIN : L85100TG2009PLC066359 I GSTIN: 36AADCN1504A1Z8 I ISD GST: 36AADCN1504A2Z7
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B S R and CoChartered AccountantsSalarpuria Knowledge City, Orwell B Wing, 6th Floor, Unit-3, Sy No. 83/1Plot No. 02, RaidurgHyderabad – 500 081, IndiaTelephone + 91 407 182 2000Fax + 91 407 182 2399 Principal Office:14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 2 Limited Review Report on unaudited standalone financial results of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amendedTo the Board of Directors of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited)1. We have reviewed the accompanying Statement of unaudited standalone financial results of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) (hereinafter referred to as “the Company”) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 (“the Statement”).Attention is drawn to the fact that the figures for the corresponding quarter ended 30 September 2025, as reported in the Statement have been approved by the Company’s Board of Directors, but have not been subjected to review.2. This Statement, which is the responsibility of the Company’s management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”). Our responsibility is to issue a report on the Statement based on our review.3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it
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B S R and Co Limited Review Report (Continued) Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) Page 2 of 2 contains any material misstatement. For B S R and Co Chartered Accountants Firm’s Registration No.:128510W Amit Kumar Bajaj Partner Hyderabad Membership No.: 218685 03 November 2026 UDIN:26218685LXYQXU9974 AMIT KUMAR BAJAJ Digitally signed by AMIT KUMAR BAJAJ Date: 2026.11.03 17:45:57 +05'30'
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad• 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Standalone Financial Results for the quarter and half-year ended 30 September 2026 (f in Millions, except per share data) Quarter ended Half-year ended Year ended Particulars 30 September 2026 30June2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Audited Audited (Refer Note 3) Income Revenue from operations 1,765.79 1,703.78 1,559.20 3,469.57 3,047.46 6,297.43 Other income 60.83 61.24 28.65 121.29 58.37 154.34 Total income 1,826.62 1,765.02 1,587.85 3,590.86 3,105.83 6,451.77 Expenses Cost of materials consumed 429.07 421.76 393.62 850.83 795.69 1,607.32 Employee benefits expense 345.90 308.02 304.00 653.92 596.62 1,210.86 Finance costs 6.74 4.85 410.47 11.59 445.25 497.61 Depreciation, amortisation and impairment expense 135.05 130.88 159.07 265.93 282.53 576.09 Healthcare professional fees 210.22 221.72 208.14 431.94 388.96 826.53 Hospital fees 201.75 179.00 171.61 380.75 335.58 685.33 Other expenses 328.78 331.86 247.11 659.86 498.39 1 085.72 Total expenses 1,657.51 1,598.09 1,894.02 3,254.82 3,343.02 6,489.46 Profit/ (loss) before tax 169.11 166.93 (306.17) 336.04 (237.19) (37.69) Tax expense Current tax 40.76 60.71 44.79 101.47 71.46 141.20 Deferred tax benefit (14.73) (19.41) (26.82) (34.14) (34.65) (98.29) Total tax expense 26.03 41.30 17.97 67.33 36.81 42.91 Profit/ (loss) for the period/year 143.08 125.63 (324.14) 268.71 (274.00) (80.60) Other comprehensive income Items that will not be reclassified to profit or loss - Remeasurement gain / (loss) on defined benefit plans (3.30) 0.17 0.65 (3.13) 1.31 0.68 - Income tax relating to items above 0.83 (0.04) (0.31) 0.79 (0.33) (0.17) Total other comprehensive income/ (loss) for the period/year (2.47) 0.13 0.34 (2.34) 0.98 0.51 Total comprehensive income/ (loss) for the period/year 140.61 125.76 (323.80) 266.37 (273.02) (80.09) Paid up share capital 201.12 200.68 36.18 201.12 36.18 200.68 Other equity 9,508.38 Earnings per equity share (f)* Basic earnings per share [In absolute f terms] 1.42 1.25 (3.82) 2.68 (3.26) (0.89) Diluted earnings per share [In absolute f terms] 1.39 1.22 (3.82) 2.61 (3.26) (0.89) *Earnings per equity share Is not annualised for the quarters.
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91404240 8039 Statement of Unaudited Standalone Balance Sheet ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Right-of-use assets Other intangible assets Intangible assets under development Financial assets - Investments - Other financial assets Deferred tax assets (net) Other tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets - Investments - Trade receivables - Cash and cash equivalents Particulars - Bank balances other than cash and cash equivalents - Other financial assets Other current assets Total current assets Total assets Equity and liabilities Equity Equity share capital Other equity Equity attributable to the owners of the Company Liabilities Non-current liabilities Financial liabilities - Borrowings - Lease liabilities - Other financial liabilities Provisions Total non-current liabilities Current liabilities Financial liabilities - Borrowings - Lease liabilities - Trade payables - Total outstanding dues of micro and small enterprises; and - Total outstanding dues of creditors other than micro and small enterprises - Other financial liabilities Other current liabilities Provisions Total current liabilities Total liabilities Total equity and liabilities As at 30 September 2026 Unaudited 2,223.16 59.83 212.74 18.92 1.34 1,646.84 49.73 312.89 32.27 45.31 4,603.03 268.49 2,047.50 2,255.56 1,761.33 313.52 102.21 72.95 6,821.56 11,424.59 201.12 9,825.85 10,026.97 - 64.32 4.34 66.09 134.75 80.69 21.52 215.63 711.08 196.04 15.99 21.92 1,262.87 1,397.62 11,424.59 (f in Millions) As at 31 March 2026 Audited 2,200.15 35.06 227.16 20.47 2.37 1,646.84 414.43 277.96 42.51 56.34 4,923.29 181.28 1,706.41 2,176.63 936.78 1,315.73 76.14 34.25 6,427.22 11,350.51 200.68 9,508.38 9,709.06 0.47 71.63 4.34 58.57 135.01 25.31 19.76 156.35 689.67 562.73 33.40 19.22 1,506.44 1,641.45 11,350.51
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Nephrocare Health Services Limited {formerly Nephrocare Health Services Private Limited) CIN:L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad • 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Standalone Statement of Cash flows (i!' in Millions) For the half-year ended For the half-year ended Particulars 30 September 2026 30 September 2025 Unaudited Audited Cash flow from operating activities Profil/(Loss) before tax 336.04 (237.19) Adjustments for: Depreciation, amortisation and impairment expense 265.93 282.53 Bad-debts written-off . 0.04 Allowance for expected credit loss 87.54 61.17 Provision for doubtful advances 4.31 . Assets written-off 1.69 . Finance costs 11.59 445.25 Employee stock compensation expenses 30.72 50.44 Loss on sale of property, plant and equipment 2.34 . Net gain on financial assets measured at FVTPL (54.11) (21.22) Gain on termination of lease (0.29) . Commission on corporate guarantee given for subsidiary (1.55) (2.01) Interest on income tax refund . (1.65) Interest income under effective interest method from fixed deposits (51.99) (18.92) Operating profit before working capital changes 632.22 558.44 Working capital changes Increase in inventories (87.22) (15.74) Increase in trade receivables (166.47) (420.43) Increase in other financial assets (3.14) (20.48) Increase in other assets (38.70) (34.37) Increase in trade payables 80.71 113.79 Increase in provisions 7.10 8.50 (Decrease)/lncrease in other financial liabilities (104.37) 7.00 (Decrease) in other current liabilities (17.42) (13.64) Cash generated from operations 302.71 183.07 Income tax paid(net of refunds) (91.23) (85.15) Net cash flow generated from operating activities (A) 211.48 97.92 Cash flow from investing activities Purchase of property, plant and equipment and right-of-use assets (287.42) (439.56) Sale of property, plant and equipment 0.57 . Purchase of intangible assets (1.34) . Investment in fixed deposits (14.44) (1,160.27) Redemption of fixed deposits 350.00 1,423.30 Investments in equity shares of subidiaries . (12.51) Investment in mutual funds (800.00) (700.00) Redemption of mutual funds 513.02 . Commission on corporate guarantee given for subsidiary 1.55 . Investment in other bank balances (0.38) (34.46) Redemption of other bank balances 1,000.00 25.00 Interest received 56.47 34.18 Net cash flow generated from / {used in) investing activities (BJ 818.03 (864.32) Cash flow from financing activities Proceeds from issue of equity shares 20.82 652.94 Payment made for expenses incurred on account of initial public offering (259.16) (115.84) Repayment of long-term borrowings (0.68) (109.68) Proceeds from short-term borrowings, net 55.61 474.59 Repayment of lease liabilities (14.06) (15.28) Interest paid (7.49) (67.74) Net cash (used in)/ generated from financing activities (CJ (204.96) 818.99 Net increase in cash and cash equivalents (A+B+C) 824.55 52.59 Cash and cash equivalents at the beginning of the period 936.78 38.54 Cash and cash equivalents at the end of the period 1,761.33 91.13 Cash and cash equivalents includes Cash on hand 2.40 2.52 Balances with banks Balances with banks in current accounts 611.77 68.61 In deposit accounts (with original maturity of three months or less) 1147.16 20.00 Total cash and cash equivalents 1,761.33 91.13
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Notes: 1. The above unaudited standalone financial results of Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) (''the Company") for the quarter and half-year ended 30 September 2026, have been prepared in accordance with the Indian Accounting Standard (referred to as 'Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time and in terms of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2. These unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 03 November 2026. The Statutory auditors of the Company have conducted a 'Limited Review' of the standalone financial results and have issued an unmodified review conclusion thereon. 3. The Company was listed on the stock exchanges on 17 December 2025. Accordingly, the standalone financial results for the corresponding quarter ended 30 September 2025 were not required to be submitted to the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and were consequently not subjected to audit or limited review by the statutory auditors. The comparative figures for the quarter ended 30 September 2025 as included in these standalone financial results, have been approved by the Board of Directors of the Company. 4. In accordance with Ind AS 108, Operating segments, segment information has been provided in the consolidated financial results of the Company and no separate disclosure on segment information is given in these unaudited standalone financial results. 5. During the year ended 31 March 2026, the Company has completed an initial public offering (IPO) of 18,943,020 equity shares with a face value of INR 2 each at an issue price of INR 460 per share, comprising fresh issue of 7,689,918 shares and an offer for sale of 11,253,102 shares. The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 17 December 2025. The utilisation of net IPO proceeds is summarised below: (f in Millions) Amount to be Utilisation up to Unutilised as on Objectives utilised as per orosoectus 30Sep2026 30 Sep 2026 Capital expenditure for opening new dialysis clinics in India 1,291.06 187.39 1,103.67 Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed 1,359.99 1,359.99 - General corporate purposes 600.48 600.47 0.01 Total 3 251.53 2147.85 1103.68 6. The unaudited financial results of the following subsidiaries, step-down subsidiaries and joint venture of the Company are included in the consolidated financial results for the quarter and half-year ended 30 September 2026. a) Subsidiaries (including step-down subsidiaries): 1) Nephrocare Health Services Central Asia FE LLC 2) Nephrocare Health Services Nepal Private Limited 3) Nephrocare Health Services International Pie Ltd 4) Nephro Plus Kidney Services Company 5) Nephrocare Health Care Services, Philippines Inc. 6) Anram Medical Group Inc. 7) Cadiz Dialysis Hub Inc. 8) Dialysis Asia and Patient Care Center Inc. 9) People's Center For Hemodialysis Care Inc. 1 O) Curis Hemodialysis Clinic Inc. 11) Mega Health Dialysis Center Inc. 12) Universe Dialysis and Kidney Care Centre Inc. 13) St. Margareth Dialysis and Biocare Centre Inc. 14) Medical Experts Group and Associates Inc. 15) Curis Cavite Renal Corporation 16) Renal Therapy Solutions, Inc. 17) Rizal Dialysis and Wellness Centre OPC 18) Bioregen Hema Center Inc. 19) Carmona Dialysis System Inc. 20) lnfini Care Health Systems Inc. 21) Kolff Dialysis Inc. 22) AIZ Hemodialysis Centre Inc. 23) Nephro Alliance Ventures Inc. 24) Nephroplus Health Services Kazakhstan Limited Liability Partnership (LLP) ( w.e.f. 26 May 2026) 25) Dialysis Center Almaty LLP ( w.e.f. 01 September 2026) b) Joint Venture 1) Nephrocare Health Services Saudi Arabia Company
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 7. During the half year ended September 30, 2026, the Company has issued 2, 18,297 equity shares of INR 2 each to eligible employees of the Company against the exercise of options given under Employees Stock Grant Scheme for an aggregate value of INR 0.44 million. 8. During the half year ended September 30, 2026, under the Employee Stock Grant Scheme i.e., ESOP Scheme 2026, the Company has granted 4,01 ,362 stock grants to eligible employees of the Company. Upon vesting, as per the Scheme, equivalent number of equity shares of nominal value of INR 2 each in the Company shall be issued to the eligible employees on exercising their grants. 9. The unaudited standalone financial results for the quarter and half-year ended 30 September 2026, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL: nseindia.com) and on the Company's website (URL: https://nephroplus.com/investors). Place : Hyderabad Date : 03 November 2026 For and on behalf of the Board of Directors of Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) Dlgltilllyslgned vu PPAL by VUPPALA Vlb am A Vikram Oate:2026.11.03 17:33:47-t-05'30' Vikram Vuppala Chairman and Managing Director DIN: 02847323
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B S R and CoChartered AccountantsSalarpuria Knowledge City, Orwell B Wing, 6th Floor, Unit-3, Sy No. 83/1Plot No. 02, RaidurgHyderabad – 500 081, IndiaTelephone + 91 407 182 2000Fax + 91 407 182 2399 Principal Office:14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063Page 1 of 4 Limited Review Report on unaudited consolidated financial results of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amendedTo the Board of Directors of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited)1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) and its share of the net loss after tax and total comprehensive loss of its joint venture for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").Attention is drawn to the fact that the figures for the corresponding quarter ended 30 September 2025, as reported in the Statement have been approved by the Parent’s Board of Directors, but have not been subjected to review.2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.4. The Statement includes the results of the entities mentioned in Annexure I.
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B S R and Co Limited Review Report (Continued) Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) Page 2 of 4 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For B S R and Co Chartered Accountants Firm’s Registration No.:128510W Amit Kumar Bajaj Partner Hyderabad Membership No.: 218685 03 November 2026 UDIN:26218685RBBTJE4891 AMIT KUMAR BAJAJ Digitally signed by AMIT KUMAR BAJAJ Date: 2026.11.03 17:44:27 +05'30'
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B S R and CoLimited Review Report (Continued)Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) Page 3 of 4 Annexure IList of entities included in unaudited consolidated financial results.Sr. No Name of component Relationship1Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited)Holding company2 Nephrocare Health Services Central Asia FE LLC Subsidiary3 Nephrocare Health Services Nepal Private Limited Subsidiary4 Nephrocare Health Services International Pte Limited Subsidiary5 Nephrocare Health Services Saudi Arabia Company Joint Venture6 Nephro Plus Kidney Services Company Step down subsidiary7 Nephrocare Health Care Services, Philippines Inc. Step down subsidiary8 Anram Medical Group Inc. Step down subsidiary9 Bioregen Hemo Center Inc Step down subsidiary10 Curis Cavite Renal Corporation Step down subsidiary11 Cadiz Dialysis Hub Inc. Step down subsidiary12 Curis Hemodialysis Clinic Inc. Step down subsidiary13 Carmona Dialysis System Inc. Step down subsidiary14 Dialysis Asia and Patient Care Center Inc. Step down subsidiary15 Mega Health Dialysis Center Step down subsidiary16 Medical Experts Group and Associates Inc Step down subsidiary17 People's Center For Hemodialysis Care Inc. Step down subsidiary18 Renal Therapy Solutions Inc. Step down subsidiary19 Rizal Dialysis and Wellness Centre OPC Step down subsidiary
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B S R and CoLimited Review Report (Continued)Nephrocare Health Services Limited (formerly known as Nephrocare Health Services Private Limited) Page 4 of 4 20 St. Margareth Dialysis and Biocare Center Inc. Step down subsidiary21 Universe Dialysis and Kidney Care Center Inc. Step down subsidiary22 AIZ Hemo Dialysis Centre Inc. Step down subsidiary23 Infini Care Health Systems Inc. Step down subsidiary24 Kolff Dialysis Inc. Step down subsidiary25 Nephro Alliance Ventures Inc. Step down subsidiary26 Nephroplus Health Services Kazakhstan LLP Step down subsidiary27 Dialysis Center Almaty LLP Step down subsidiary
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN:L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Consolidated Financial Results for the quarter and half-year ended 30 September 2026 (f in Millions, except per share data) Quarter ended Half-year ended Year ended Particulars 30 September 2026 30June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Audited Audited (Refer Note 3) Income Revenue from operations 3,033.98 2,817.54 2,457.18 5,851.52 4,735.01 9,988.45 Other income 79.97 74.59 38.89 151.41 104.65 245.13 Total income 3,113.95 2,892.13 2,496.07 6,002.93 4,839.66 10,233.58 Expenses Cost of materials consumed 662.47 624.41 541.72 1,286.88 1,086.40 2,267.89 Employee benefits expense 528.73 478.25 429.62 1,006.98 827.58 1,717.89 Finance costs 31.07 22.06 449.98 53.13 511.02 602.42 Depreciation, amortisation and impairment expense 276.81 245.40 234.42 522.21 429.62 906.67 Healthcare professional fees 308.74 306.14 279.73 614.88 522.74 1,121.59 Hospital fees 244.48 215.87 199.55 460.35 386.68 799.85 Other expenses 618.38 554.04 367.29 1,169.27 796.69 1,811.60 Total expenses 2,670.68 2,446.17 2,502.31 5,113.70 4,560.73 9,227.91 Profit/ (loss) before share of loss of joint venture and tax 443.27 445.96 (6.24) 889.23 278.93 1,005.67 Share of loss of joint venture, net of tax (39.15) (35.66) - (74.81) - (30.93) Profit/ (loss) before tax 404.12 410.30 (6.24) 814.42 278.93 974.74 Tax expense Current tax 96.28 120.89 103.31 217.17 173.85 355.60 Deferred tax benefit (27.47) (30.33) (14.81) (57.80) (37.20) (149.26) Total tax expense 68.81 90.56 88.50 159.37 136.65 206.34 Profit/ (loss) for the period/year 335.31 319.74 (94.74) 655.05 142.28 768.40 other comprehensive income Items that will not be reclassified to profit or loss - Remeasurement gains/ (loss) on defined benefit plans (3.28) 0.16 0.65 (3.12) 1.31 0.67 - Income tax relating to above items 0.83 (0.04) (0.31) 0.79 (0.33) (0.17) Items that will be reclassified to profit or loss - Exchange differences on translating financial statements of foreign operations 9.88 10.66 83.56 20.54 110.35 185.84 Total other comprehensive income for the period/year 7.43 10.78 83.90 18.21 111.33 186.34 Total comprehensive income / (loss) for the period / year 342.74 330.52 110.841 673.26 253.61 954.74 Profit / (loss) attributable to Owners of the Company 335.31 319.74 (94.74) 655.05 142.28 768.40 other comprehensive income attributable to Owners of the Company 7.43 10.78 83.90 18.21 111.33 186.34 Total comprehensive income / (loss) attributable to Owners of the Company 342.74 330.52 (10.84) 673.26 253.61 954.74 Paid up share capital 201.12 200.68 36.18 201.12 36.18 200.68 other equity 10,964.25 Earnings per equity share (fl* Basic earnings per share [in absolute f terms] 3.34 3.19 (1.12) 6.52 1.69 8.48 Diluted earnings per share [in absolute f terms] 3.25 3.11 (1.12) 6.37 1.57 8.10 *Earnings per equity share 1s not annualised for the quarters.
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Consolidated Balance Sheet (f in Millions) Particulars As at 30 September 2026 As at 31 March 2026 Unaudited Audited ASSETS Non-current assets Property,plant and equipment 3,477.19 3,302.01 Capital work-in-progress 71.04 55.38 Right-of-use assets 765.30 659.93 Goodwill 912.83 866.93 Other intangible assets 1,184.96 336.30 Intangible assets under development 1.34 2.37 Financial assets - Investments 88.88 71.43 - Other financial assets 121.56 480.86 Deferred tax assets (net) 391.93 339.61 Other tax assets (net) 32.27 42.51 Other non-current assets 115.15 159.65 Total non-current assets 7,162.45 6,316.98 Current assets Inventories 473.83 330.37 Financial assets - Investments 2,047.50 1,706.41 - Trade receivables 3,275.42 3,168.91 - Cash and cash equivalents 2,131.66 1,238.89 - Bank balances other than cash and cash equivalents 313.52 1,315.73 - Other financial assets 609.98 318.28 Other current assets 319.13 313.09 Total current assets 9,171.04 8,391.68 Total assets 16,333.49 14,708.66 Equity and liabilities Equity Equity share capital 201.12 200.68 Other equity 11 688.63 10 964.25 Equity attributable to the owners of the Company 11,889.75 11,164.93 Liabilities Non-current liabilities Financial liabilities - Borrowings - 0.47 - Lease liabilities 552.95 450.76 - Other financial liabilities 4.34 4.34 Provisions 66.09 58.57 Deferred tax liabilities (net) 32.76 35.48 Total non-current liabilities 656.14 549.62 Current liabilities Financial liabilities - Borrowings 795.29 229.72 - Lease liabilities 141.35 116.12 - Trade payables - Total outstanding dues of micro and small enterprises; and 215.63 156.35 - Total outstanding dues of creditors other than micro and small enterprises 1,380.84 1,273.72 - Other financial liabilities 1,056.17 966.95 Other current liabilities 62.22 60.36 Provisions 31.09 24.37 Current tax liabilities (net) 105.01 166.52 Total current liabilities 3,787.60 2,994.11 Total liabilities 4,443.74 3,543.73 Total eauitv and liabilities 16 333.49 14 708.66
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Consolidated Statement of Cash flows If in Millions For the half-year ended For the half-year ended Particulars 30 September 2026 30 September 2025 Unaudited Audited Cash flow from operating activities Profit before tax 814.42 278.93 Adjustments for: Depreciation, amortisation and impairment expense 522.21 429.62 Bad debts written off - 0.04 Allowance for expected credit loss 146.31 68.27 Provision for doubtful advances 4.31 - Assets written off 1.69 - Finance costs 53.13 511.02 Employee stock compensation expenses 30.72 50.44 Loss on sale of property, plant and equipment 2.39 2.23 Share of loss of joint venture 74.81 - Net gain on financial assets measured at FVTPL (54.11) (21.22) Interest on income tax refund - (1.65) Liabilities no longer required written back - (7.39) Gain on termination of lease (0.29) - Interest income under effective interest method from fixed deposits (80.83) (46.83) Operating profit before working capital changes 1,514.76 1,263.46 Working capital changes Increase in inventories (129.93) (68.04) Increase in trade receivables (252.18) (640.66) Increase in other financial assets (8.39) (20.70) Increase in other assets (3.44) (120.65) Increase in trade payables 146.91 167.20 Increase in provisions 11.12 10.88 Decrease in other financial liabilities (117.89) (61.84) lncrease/(Decrease) in other current liabilities 1.86 (7.03) Cash generated from operations 1,162.82 522.62 Income tax paid (268.43) (141.54) Net cash flow generated from operating activities (A) 894.39 381.08 Cash flow from investing activities Purchase of property, plant and equipment and right-of-use assets (371.52) (613.07) Proceeds from sale of property, plant and equipment 0.57 - Purchase of Intangible assets (1.34) - Payment of consideration towards acquisition of business, net of cash acquired (649.80) (228.54) Investments in fixed deposits (425.18) (2,497.64) Redemption of fixed deposits 494.94 2,845.73 Investment in mutual funds (800.00) (700.00) Redemption of investments in mutual funds 513.02 - Investment in joint venture (92.26) - Investments in other bank balances (0.38) (34.46) Redemption of other bank balances 1,000.00 25.00 Interest received 85.35 62.23 Net cash used in investing activities (B) (246.60) (1,140.75)
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 Statement of Unaudited Consolidated Statement of Cash flows If in Millions For the half-year ended For the half-year ended Particulars 30 September 2026 30 September 2025 Unaudited Audited Cash flow from financing activities Proceeds from issue of equity shares 20.82 652.94 Payments made for expenses incurred on account of initial public offering (259.16) (115.84) Repayment of long-term borrowings (62.35) (574.84) Proceeds from short-term borrowings, net 627.45 385.64 Repayment of lease liabilities (76.46) (54.68) Interest paid (25.87) (119.46) Net cash flow generated from financing activities (C) 224.43 173.76 Net (decrease)/increase in cash and cash equivalents (A+B+C) 872.22 (585.91) Cash and cash equivalents at the beginning of the period 1,238.89 1,258.17 Effect of exchange rate changes on cash and cash equivalents 20.55 157.39 Cash and cash equivalents at the end of the period 2,131.66 829.65 Cash and cash equivalents includes Cash on hand 8.31 5.89 Balances with banks - in current accounts 976.19 721.58 - in deposit accounts with original maturity of three Months or less 1,147.16 102.18 Total cash and cash equivalents 2,131.66 829.65
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Notes: Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 1. The above unaudited consolidated financial results of Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) ("the Company") and its subsidiaries (the Company and its subsidiaries together referred to as "the Group") and its joint venture for the quarter and half-year ended 30 September 2026, have been prepared in accordance with the Indian Accounting Standard (referred to as 'Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time and in terms of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2. These unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 03 November 2026. The Statutory auditors of the Company have conducted a 'Limited Review' of the unaudited consolidated financial results and have issued an unmodified review conclusion thereon. 3. The Company was listed on the stock exchanges on 17 December 2025. Accordingly, the consolidated financial results for the corresponding quarter ended 30 September 2025 were not required to be submitted to the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and were consequently not subjected to audit or limited review by the statutory auditors. The comparative figures for the quarter ended 30 September 2025 as included in these unaudited consolidated financial results, have been approved by the Board of Directors of the Company. 4. The Statement of unaudited consolidated financial results include the results of the following entities: a) Parent: 1) Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) b) Subsidiaries (including step-down subsidiaries): 1) Nephrocare Health Services Central Asia FE LLC 2) Nephrocare Health Services Nepal Private Limited 3) Nephrocare Health Services International Pte Ltd 4) Nephro Plus Kidney Services Company 5) Nephrocare Health Care Services, Philippines Inc. 6) Anram Medical Group Inc. 7) Cadiz Dialysis Hub Inc. 8) Dialysis Asia and Patient Care Center Inc. 9) People's Center For Hemodialysis Care Inc. 1 O) Curis Hemodialysis Clinic Inc. 11) Mega Health Dialysis Center Inc. 12) Universe Dialysis and Kidney Care Centre Inc. 13) St. Margareth Dialysis and Biocare Centre Inc. 14) Medical Experts Group and Associates Inc. 15) Curis Cavite Renal Corporation 16) Renal Therapy Solutions, Inc. 17) Rizal Dialysis and Wellness Centre OPC 18) Bioregen Hemo Center Inc. 19) Carmona Dialysis System Inc. 20) lnfini Care Health Systems Inc. 21) Kolff Dialysis Inc. 22) AIZ Hemodialysis Centre Inc. 23) Nephro Alliance Ventures Inc. 24) Nephroplus Health Services Kazakhstan Limited Liability Partnership (LLP) ( w.e.f. 26 May 2026) 25) Dialysis Center Almaty LLP ( w.e.f. 01 September 2026) c) Joint Venture 1) Nephrocare Health Services Saudi Arabia Company 5. The Group's Chief Operating Decision Maker (''CODM"), being the Chairman and Managing Director, reviews the financial performance and allocates resources at the Group level. The Group is principally engaged in providing dialysis services and sale of related healthcare products. Accordingly, the Group has identified a single reportable segment in accordance with Ind AS 108, Operating Segments. Geographical information is disclosed below based on the location of operations as required under Ind AS 108. Geographical information If in Millions) Particulars Quarter ended Half-year ended Year ended 30 September 2026 30June2026 30 September 2025 30 September 2026 30 Seotember 2025 31 March 2026 Revenue from ooerations India 1,608.81 1,553.79 1,450.56 3,162.60 2,842.82 5,813.21 Philippines 1 047.17 906.29 767.04 1 953.46 1 437.00 3 112.28 Uzbekistan 333.67 321.34 238.96 655.01 455.17 1,004.22 others 44.33 36.12 0.62 80.45 0.02 58.74 Total 3,033.98 2,817.54 2,457.18 5,851.52 4,735.01 9,988.45
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Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) CIN: L85100TG2009PLC066359 Regd.Office: 5th Floor, D Block, iLabs Centre, Plot: 18, Software Units Layout, Survey No: 64, Madhapur, Hyderabad - 500081 Email id: cs@nephroplus.com Ph. No. +91 40 4240 8039 6. During the year ended 31 March 2026, the Company has completed an initial public offering (IPO) of 18,943,020 equity shares with a face value of INR 2 each at an issue price of INR 460 per share, comprising fresh issue of 7,689,918 shares and an offer for sale of 11 ,253,102 shares. The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 17 December 2025. The utilisation of net IPO proceeds is summarised below: (' in Millions) Amount to be Utilisation up to 30 Unutilised as on Objectives utilised as per 30 September I prospectus September 2026 2026 Capital expenditure for opening new dialysis clinics in India 1,291 .06 187.39 1,103.67 Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed 1,359.99 1,359.99 - General corporate purposes 600.48 600.47 0.01 Total 3,251.53 2,147.85 1,103.68 7. During the half year ended September 30, 2026, the Company has issued 2, 18,297 equity shares of INR 2 each to eligible employees of the Company against the exercise of options given under Employees Stock Grant Scheme for an aggregate value of INR 0.44 million. 8. During the half year ended September 30, 2026, under the Employee Stock Grant Scheme (i.e, ESOP Scheme 2026), the Company has granted 4,01 ,362 stock grants to eligible employees of the Company. Upon vesting, as per the Scheme, equivalent number of equity shares of nominal value of INR 2 each in the Company shall be issued to the eligible employees on exercising their grants. 9. During the half year ended 30 September 2026, the Group entered into ten Asset Transfer Agreements ("ATAs") in the Philippines region for an aggregate consideration of INR 926.49 million and a Sale and Purchase Agreement ("SPA") to acquire 100% participatory interest in Dialysis Center Almaty LLP, Kazakhstan for a consideration of INR 112.76 million. The initial accounting for these business combinations is provisional as the identification and measurement of the assets acquired and liabilities assumed are yet to be completed. Accordingly, the purchase consideration has been allocated on a provisional basis to tangible assets, intangible assets, goodwill and other balances based on management's current assessment. The Group will finalise the initial accounting within the measurement period of up to twelve months from the respective acquisition dates in accordance with Ind AS 103, Business Combinations. 1 o. On 26 May 2026, the Group incorporated NephroPlus Health Services Kazakhstan Limited Liability Partnership, a wholly owned subsidiary in the Republic of Kazakhstan, to expand its dialysis and related healthcare services operations in Central Asia. 11 . Subsequent event: Subsequent to the quarter and period ended 30 September 2026, the Group completed an asset transfer acquisition of JCM Health Summit, Inc, Philippines to increase its presence in South Asian countries and provide dialysis and related healthcare services. The management is in the process of allocating the purchase price to assets acquired and liabilities assumed based on fair values determined as on the date of acquisition (i.e 27 October 2026). 12. The unaudited consolidated financial results for quarter and half-year ended ended 30 September 2026, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL: nseindia.com) and on the Company's website (URL: https://nephroplus.com/investors) . Place : Hyderabad Date : 03 November 2026 For and on behalf of the Board of Directors of Nephrocare Health Services Limited (formerly Nephrocare Health Services Private Limited) Digitally signed VUPPAL byVUPPALA Vikram A Vikram Datec2026.11.03 17:33:11 +o5"30' Vikram Vuppala Chairman and Managing Director DIN: 02847323