Arvaya Healthcare posts Rs 1.90 crore first-half profit

Arvaya Healthcare Limited reported a consolidated profit after tax of Rs 1.90 crore for the half year ended September 30, 2026, on total income of Rs 70.90 crore. Arvaya Healthcare’s first reported half-year result as a healthcare group followed the consolidation of subsidiaries acquired from March 4, 2026.

What did Arvaya Healthcare report for the first half?

Arvaya Healthcare reported Rs 1.90 crore of profit after tax from continuing operations for the half year ended September 30, 2026, after recording Rs 1.88 crore of profit before tax. A tax credit of Rs 1.66 lakh increased the post-tax result, while total comprehensive income for the six months was Rs 1.94 crore, including Rs 4.02 lakh of other comprehensive income.

The September 2026 quarter accounted for Rs 1.37 crore of the half-year profit, compared with Rs 53.23 lakh in the quarter ended June 30, 2026. September-quarter total income was Rs 40.81 crore and total expenses were Rs 39.48 crore, resulting in Rs 1.32 crore of profit before tax and a tax credit of Rs 4.38 lakh.

The half-year result compares with a Rs 56.26 lakh loss for the half year ended September 30, 2025, but Arvaya Healthcare says the two periods are not comparable. The current consolidated reporting entity came into existence on March 4, 2026, whereas the prior-period number represents the standalone result of the holding company as previously published.

The unaudited results were reviewed by the statutory auditors under Regulation 33 of the Securities and Exchange Board of India (SEBI) listing regulations. The auditors said that nothing had come to their attention indicating that the consolidated statement did not make the required disclosures or contained a material misstatement.

How did revenue and expenses shape Arvaya Healthcare’s profit?

Arvaya Healthcare generated Rs 70.19 crore in revenue from operations during the half year ended September 30, 2026, with other income taking total income to Rs 70.90 crore. Total expenses were Rs 69.02 crore, leaving the reported Rs 1.88 crore profit before tax for the six-month period.

Revenue from operations rose from Rs 29.91 crore in the June 2026 quarter to Rs 40.28 crore in the September 2026 quarter. The September quarter therefore produced more than half of first-half operating revenue, while total income increased from Rs 30.10 crore in June to Rs 40.81 crore in September.

The disclosed expense categories include materials consumed, purchases of stock-in-trade, inventory changes, direct expenses, employee benefits, finance costs, depreciation and amortisation, right-of-use asset depreciation and other expenses. Arvaya Healthcare did not disclose revenue or profit by hospital, technology platform or individual service line because healthcare services are its only reportable segment.

Tec-pool Solutions Private Limited uses its technology platform and intellectual property exclusively within Arvaya Healthcare and is not an independent revenue-generating segment. Its standalone results included in consolidation showed Rs 4 lakh of half-year revenue and Rs 1.03 lakh of profit after tax, according to the other auditors’ review report cited by the consolidated auditor.

Why are Arvaya Healthcare’s prior-year figures not comparable?

Arvaya Healthcare says the September 2025 quarter and half-year figures are not comparable with September 2026 because they cover different reporting perimeters. The current figures consolidate healthcare subsidiaries from their March 4, 2026 acquisition date, while the earlier figures are standalone results of the holding company.

The year ended March 31, 2026 is also not a full-year consolidated comparator. Arvaya Healthcare included subsidiary results for only the March 4 to March 31, 2026 period, meaning the year-end figures contain less than one month of the acquired businesses’ performance.

The consolidated entities include Health Secure Hospitals Private Limited, Arvaya Healthtech and Wellness Private Limited and Tec-pool Solutions Private Limited, each wholly owned. They also include Health Secure Hospital Care & Solutions Private Limited, a 90.56%-owned step-down subsidiary held through Health Secure Hospitals Private Limited.

Arvaya Healthcare prepared the results under Indian Accounting Standard 34, Interim Financial Reporting, known as Ind AS 34. It also said previous-period figures were regrouped or reclassified where necessary to align with the current presentation under Ind AS 1, Presentation of Financial Statements.

What changed in Arvaya Healthcare’s balance sheet and cash flows?

Arvaya Healthcare’s total assets increased to Rs 173.15 crore at September 30, 2026 from Rs 140.62 crore at March 31, 2026. Property, plant and equipment rose to Rs 26.58 crore from Rs 23.81 crore, while right-of-use assets increased to Rs 52.80 crore from Rs 39.89 crore.

Current operating balances also changed during the half year. Trade receivables rose to Rs 7.04 crore from Rs 2.20 crore, inventories increased to Rs 3.04 crore from Rs 1.89 crore and cash and cash equivalents reached Rs 2.79 crore, compared with Rs 2.35 crore at the March 2026 year-end.

Arvaya Healthcare reported net cash used in investing activities of Rs 15.85 crore during the half year ended September 30, 2026. The disclosed investing flows included Rs 7.50 crore of outstanding purchase consideration for the Health Secure acquisition, Rs 5.88 crore of security deposits and Rs 4.04 crore spent on property, plant, equipment, intangible assets and capital work-in-progress.

At September 30, non-current borrowings stood at Rs 14.33 crore and non-current lease liabilities at Rs 38.45 crore. Current borrowings were Rs 17.01 crore, current lease liabilities were Rs 14.85 crore and trade payables were Rs 8.57 crore, according to the consolidated statement of assets and liabilities.

What capital actions followed Arvaya Healthcare’s reporting date?

Arvaya Healthcare completed the acquisition of 100% of Sushodha Institute of Gastroenterology Private Limited on November 1, 2026, after the September 30 reporting date. The company classified the acquisition as a non-adjusting event under Ind AS 10, Events after the Reporting Period, so it did not affect the reported first-half consolidated results.

The consideration was settled through a share swap. On October 24, 2026, Arvaya Healthcare allotted 38,71,854 fully paid equity shares at Rs 40 each, including a Rs 30 premium, to 47 shareholders of Sushodha Institute of Gastroenterology Private Limited, for aggregate consideration of Rs 15.49 crore.

The allotment increased paid-up equity share capital from Rs 48.02 crore, comprising 4,80,21,857 shares, to Rs 51.89 crore, comprising 5,18,93,711 shares. The shares were issued after the reporting date and therefore had no impact on the half-year financial statements.

Arvaya Healthcare has also approved a proposed rights issue of partly paid equity shares for up to Rs 210 crore, assuming full subscription, allotment and receipt of call monies. On November 4, 2026, as revised through an intimation dated November 6, the board authorised its Rights Issue Committee to finalise the draft letter of offer and file it with BSE Limited for in-principle approval.

Conclusion

Arvaya Healthcare’s first half-year consolidated result as a healthcare group was a Rs 1.90 crore profit on Rs 70.90 crore of total income, with the September quarter contributing Rs 1.37 crore of the profit. The result cannot be treated as a like-for-like improvement from the Rs 56.26 lakh prior-year loss because the group was formed only on March 4, 2026.

The next disclosures to watch are the final terms and regulatory progress of the proposed rights issue of up to Rs 210 crore. Investors can also watch for the financial contribution of Sushodha Institute of Gastroenterology Private Limited, whose November 1, 2026 acquisition and associated share-swap allotment are not included in the September 2026 results.