• Global market opportunity: The global dialysis market is currently valued at $80 billion and is projected to reach $110 billion within the next 3–4 years, while NephroPlus currently captures less than $1 billion.
• International pricing leverage: Operating at India's low price point of $22 (₹1,700 to ₹1,800) per session enabled the company to build a highly efficient platform, which enhances operating margins when deployed in higher-priced markets like Uzbekistan ($60), the Philippines ($110), and Saudi Arabia ($250 to $300).
• Market selection criteria: Expansion into new countries requires scalable demand, strong government reimbursement systems for frequent treatments, straightforward repatriation of funds to India, and ROCE-accretive project economics.
• Capital allocation performance: Disciplined capital deployment across target regions including Saudi Arabia, the Philippines, and the CIS market increased the company's ROCE from 19.9% to 22.8% this year.