Jupiter Life Line Hospitals Ltd. share price target

JLHL's Q1 consolidated EBITDA grew by 20% YoY (flat QoQ) to Rs781mn, in line with our estimates, aided by higher ARPOB. Its operational efficiency has been strong in the competitive markets of MMR. The company reported revenue/EBITDA CAGR of 20%/25% over FY22-25. Given its expansion plans, scale-up in occupancy and improving margins, growth momentum is expected to sustain over the medium term. We believe strategic greenfield expansions in densely populated micro-markets of western regions will drive sustainable...

In line with our estimates and the consensus, Jupiter Lifeline Hospital reported healthy Q1 figures, with revenue/EBITDA up 21%/22% y/y. PAT, however, dipped a tad, 1% y/y due to higher interest cost and depreciation charges.

JLHL's Q4 consolidated EBITDA grew by 26% YoY (4% QoQ) to Rs783mn, largely in line with our estimates, aided by higher ARPOB. Its operational efficiency has been strong in the competitive markets of MMR. The company reported revenue/EBITDA CAGR of 20%/25% over FY22-25. Given its expansion plans, scale-up in occupancy and improving margins, growth momentum is expected to sustain over the medium term. We believe strategic greenfield expansions in densely populated micro-markets of western regions...

In line with our estimates and the consensus, Jupiter Lifeline Hospital reported healthy Q3 figures, with revenue/EBITDA/PAT up 18%/21%/20% y/y.

Jupiter Life Line Hospital’s (Jupiter) Q3FY25 result undershot our expectation. Revenue growth of 17.6% was driven by its Pune/Indore hospitals while price hike fuelled modest growth at the Thane hospital. Dombivli (200–220 beds) hospital is likely to commence operations in Q1FY27.

In line with our estimates and consensus, Jupiter Lifeline Hospital reported healthy Q2 figures, with revenue/EBITDA/PAT up23%/23%/53% y/y.

Bolstering presence in the Western region through expansion

Issue Snapshot: Issue Open: Sep 06 Sep 08, 2023 Price Band: Rs. 695 735 *Issue Size: 11,824,163 eq sh (Fresh Issue of Rs 542.0 cr + Offer for sale of 4,450,000 eq sh) Reservation for: QIB upto 50% eq sh Non-Institutional atleast 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail atleast 35% eq sh Face Value: Rs 10 Book value: Rs 64.39 (March 31, 2023) Bid size: - 20 equity shares and in multiples thereof 100% Book built Issue IPO Note - Jupiter Life Line Hospitals Limited

IPO NOTE