Norvic International Hospital Reports Strong Financial Performance Ahead Of IPO
28th July 2026, Kathmandu
Norvic International Hospital and Medical College Limited, currently preparing for its Initial Public Offering, has reported strong financial performance.
Norvic Financial Performance
The hospital generated over 2.04 billion Nepalese Rupees in revenue during the first nine months of the last fiscal year.
Total operating revenue reached 2.044 billion Nepalese Rupees. The financial growth was primarily driven by increasing patient volumes across outpatient and inpatient departments, alongside the continued expansion of healthcare services.
Upward Trend In Revenue And Patient Footfall
Norvic Hospital has demonstrated steady top-line growth over recent years. The annual revenue trajectory includes:
- 1.94 billion Nepalese Rupees in 2023
- 2.033 billion Nepalese Rupees in 2024
- 2.263 billion Nepalese Rupees in 2025, reflecting an annual growth rate of approximately 11 percent
Patient numbers have similarly expanded. Outpatient department visits increased from 94,230 in 2021 to 160,351 in 2025, representing an average annual growth rate of roughly 14 percent. During 2025, the facility treated 8,500 inpatient department admissions.
In the first nine months of the latest fiscal year, outpatient visits grew by 8.9 percent to reach 127,473 patients, while inpatient admissions rose by 4.6 percent to 6,594 patients.
Improved Profitability And Internal Cash Flow
Operational efficiencies have led to higher operating margins, rising from 19 percent in 2022 to 27 percent in 2025.
Internal cash generation has expanded over the same timeframe:
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- 237 million Nepalese Rupees generated in 2022
- 419 million Nepalese Rupees generated in 2025
- 471 million Nepalese Rupees generated during the latest nine-month period
The management noted that enhanced profitability has strengthened overall liquidity and financial stability.
Strengthened Capital Structure And Reduced Debt Load
Despite taking on additional credit to finance infrastructure expansion, the hospital balance sheet has strengthened. Capital reserve growth was supported by accumulated retained earnings, new equity injections, and controlled borrowing costs.
In 2025, the hospital added approximately 194.4 million Nepalese Rupees in new equity to solidify its net worth.
Key debt metrics showed notable improvement:
- The overall gearing ratio decreased from 1.25 times in 2025 to 1.17 times in the latest nine-month period.
- The hospital completed early prepayments of approximately 131 million Nepalese Rupees in debt obligations.
- The interest coverage ratio expanded from 5.39 times in 2024 to 10.90 times in 2025, reflecting a higher capacity to service financial obligations.
Bed Capacity Expansion Nearing Completion
Norvic Hospital is executing a major capital expenditure project to expand its total capacity from 116 beds to 275 beds. The revised project cost stands at 3.322 billion Nepalese Rupees, up by 200 million Nepalese Rupees from the initial estimate of 3.122 billion Nepalese Rupees.
Project progress details include:
- Approximately 58 percent of the committed capital investment has been utilized.
- Physical construction has entered its final phase.
- Commercial operations for the expanded hospital facilities are targeted to begin in 2027.
- Debt financing of 1.87 billion Nepalese Rupees has already been secured for the expansion project.
Ownership Details And Credit Evaluation
Founded in 1993, Norvic Hospital converted into a public limited company in 2021. The institution is affiliated with the Chaudhary Group, with major shareholding distributed between BLC Global Holding at 49 percent and BLC Holding Private Limited at 34 percent. The board of directors is chaired by Rajendra Bahadur Singh.
The hospital has secured credit ratings for bank facilities totaling 2.7947 billion Nepalese Rupees, comprising 2.7439 billion Nepalese Rupees in long-term debt and 50.8 million Nepalese Rupees in short-term credit lines.
For More: Norvic Financial Performance
