Apollo Hospitals Enterprise Ltd. share price forecast
The 7 reports from 2 analysts offering long term price targets
for Apollo Hospitals Enterprise Ltd. have an average target of 1575.00. The consensus estimate
represents a downside of -25.66%
from the last price of 2118.65.
Healthcare expansion moderates; focus on asset sweating Notwithstanding short-term fluctuations stemming from Covid, rapid expansion, maturity of older hospitals have kept overall growth tempo at 1214% per annum. After an intense capex cycle, especially in FY14-18, the company is focusing on profitability, return ratios with calculated capex moderation. This reflected in a marked improvement in both EBITDA margins, RoCE. The new hospitals and ventures are turning profitable ahead of schedule on the back of a judicious case mix besides better occupancy and other matrix. We expect healthcare sales to grow at ~8% CAGR in FY2022E to | 7544 crore mainly due to growth at new hospitals, AHLL....
The impact of Covid-19 outbreak has taken a toll on hospital stocks most of which have corrected anywhere between 20% and 50% in the last month. We spoke with a few of them to assess the impact and way forward. Large players like Apollo Hospitals have seen a significant drop in occupancy levels to 40% from 69% amid restrictions on people movement (~50% patient volume are travelling patients) and postponement of elective procedures. Fortis has also started seeing a decline in number of elective surgeries resulting in a sharp fall of ~65%, 40% in OPD, IPD volumes,...
Healthcare expansion moderates; focus on asset sweating Rapid expansion and maturity of older hospitals has kept the overall growth tempo at 12-14% per annum. After an intense capex cycle, especially during FY14-18, the company is focusing on the profitability and return ratios with calculated capex moderation. This has reflected in a marked improvement in both EBITDA margins and RoCE. The new hospitals and ventures are turning profitable ahead of schedule on the back of a judicious case mix besides better occupancy and other matrix. We expect healthcare sales to...
In the last three to four years, with many frontline large cap pharma companies being hampered by structural US related & other issues, we have seen growing investors' preference for healthcare services providers. At the same time, as many as four hospitals and three diagnostic companies got listed on the bourses, thus providing a much larger basket for investors. Some peculiar factors responsible for growing interest in the hospitals space are: 1) waning high capex episodes of private hospitals after the 2008-18 capex cycle, 2) shifting focus towards assets light model for most hospital...
The pharmacy business (40% of FY19 revenues) has grown at ~22% CAGR in the last five years on the back of consistent addition of new pharmacies and timely closure of non-performing pharmacies. FY19 margins were at 5.2%. We expect the pharmacy business to grow at ~15% CAGR in FY1922E to | 5129 crore mainly on the back of new addition and improvement in...
Healthcare expansion moderates; focus on asset sweating Rapid expansion and maturity of older hospitals has kept the overall growth tempo at 12-14% per annum. However, constant addition is likely to put some pressure on EBITDA margins and return ratios in the short to medium term. Similarly, existing hospital margins are being compressed due to 1) regulation on stent/implants pricing, 2) negative GST impact and 3) higher guarantee fees to the doctors. However, in the past, the company has demonstrated its ability to balance between expansion and profitability. We...
Margins up strongly leading to PAT growth Net sales grew 16.8% YoY to Rs. 2,234cr in Q1FY20. EBITDA, adjusted for Ind AS 116 adoption, grew ~21.0% YoY to Rs. 274cr in Q1FY20. Adjusted EBITDA margin came in at 12.3% (up 43bps YoY) due to strong performance from mature hospitals, whose adjusted EBITDA margin stood at 22.1%. Adjusted EBITDA rose 21.0% YoY to Rs....
Healthcare expansion moderates; focus on asset sweating Rapid expansion and maturity of older hospitals has kept overall growth tempo at 12-14% per annum. However, constant addition is likely to put some pressure on EBITDA margins and return ratios in the short to medium term. Similarly, existing hospital margins are being compressed due to 1) regulation on stent/implants pricing, 2) negative GST impact and 3) higher guarantee fees to the doctors. However, in the past, the company has demonstrated its ability to balance between expansion and profitability. We...
Healthcare expansion moderates; focus on asset sweating Rapid expansion and maturity of older hospitals has kept the overall growth tempo at 12-14% per annum. However, constant addition is likely to put some pressure on EBITDA margins and return ratios in the short to medium term. Similarly, existing hospital margins are being compressed due to 1) regulation on stent/implants pricing, 2) negative GST impact and 3) higher guarantee fees to the doctors. However, in the past, the company has demonstrated its ability to balance between expansion and profitability. We...
The Q3FY19 standalone operational performance was in line with Idirect estimates while net profit was lower mainly due to higher-thanexpected interest cost and depreciation Revenues grew 14.4% YoY to | 2169 crore (I-direct estimate: | 2145.8 crore) due to 13.9% growth in pharmacy to | 1011.9 crore (Idirect estimate: | 1043.2 crore) and 14.8% YoY growth in healthcare business to | 1157.3 crore (I-direct estimate: | 1102.8 crore) EBITDA margins improved 68 bps YoY to 12.3% (I-direct estimate: 12.6%) mainly due to lower other expenditure. EBITDA grew 21.1% YoY at | 267.9 crore (I-direct estimate: | 271.0 crore) Net profit grew 28.9% to | 86.9 crore (I-direct estimate: | 93.3 crore)...
Q2FY19 results were operationally in line with I-direct estimates. However, net profit was lower mainly due to lower other income and higher tax rate (33% vs. I-direct estimate of 21%) Revenues grew 12.9% YoY to | 2090 crore (I-direct estimate: | 2092.4 crore) on the back of 16.4% YoY growth in pharmacy...
Standalone revenues grew 13.4% YoY to | 1910.4 crore (I-direct estimate: | 1921.6 crore) on the back of 16.7% YoY growth in the pharmacy business to | 892.1 crore (I-direct estimate: | 908.7 crore) and 10.7% YoY growth in the healthcare business to | 1019 crore (Idirect estimate: | 1013.2 crore) EBITDA margins improved 156 bps YoY to 11.9% (I-direct estimate: 11.5%) mainly due to lower other expenditure. EBITDA grew 30.5% YoY at | 226.7 crore (I-direct estimate: | 220.3 crore) Net profit grew 70.9% to | 60.2 crore (I-direct estimate: | 71.9 crore)...
Standalone revenues grew 12.1% YoY to | 1863 crore (I-direct estimate: | 1908 crore) on the back of 16.1% YoY increase in pharmacy business to | 863 crore (I-direct estimate: | 879 crore) and...
Revenues grew 13% YoY to | 1896 crore (I-direct estimate: | 1869 crore) on the back of 13% YoY increase in healthcare business to | 1008 crore (I-direct estimate: | 1009 crore) and 13% YoY increase in pharmacy business to | 888 crore (I-direct estimate: | 860 crore) EBITDA margins improved a mere 12 bps YoY to 11.7% (I-direct estimate: 12.5%). Higher gross margins were largely offset by higher employee cost and other expenditure. EBITDA increased 14% YoY at | 221 crore (I-direct estimate: | 234 crore)...
AHEL reported 13% YoY growth in standalone revenue in Q2FY18 driven by healthy growth in both healthcare services & pharmacy business. EBITDA margin declined by 163bps YoY in Q2FY18 despite healthy revenue growth primarily on account of low occupancy rate in newly added hospitals, loss in Navi Mumbai unit and impact of stent price regulation. Though consolidated EBITDA margin is expected to grow modestly in FY18E due to loss in Navi Mumbai hospital and impact of stent price regulation, however the same is expected to improve to 11.3%/12.3% in FY19E/20E....
ICICI Securities Ltd | Retail Equity Research Revenues increased 13% YoY to | 1852 crore (I-direct estimate: | 1835 crore) led by 11% YoY increase in healthcare business to | 1024 crore (I-direct estimate: | 1002 crore) and 17% YoY increase in pharmacy business to | 828 crore (I-direct estimate: | 794 crore) EBITDA margins declined 163 bps YoY to 11.9% (I-direct estimate: 12.1%) mainly due to higher employee and other expenditure. EBITDA remained flat YoY at | 221 crore...
Revenue grew by 1.37% to Rs. 1684.46 Cr in Q1FY18 when compared to the previous quarter Revenue grew by 1.37% to Rs. 1684.46 Cr in Q1FY18 when compared to the previous quarter
Revenues increased 15% YoY to | 1685 crore (I-direct estimate: | 1712 crore) on the back of 11% increase in healthcare business to | 920 crore (I-direct estimate: | 939 crore) and 21% increase in pharmacy business to | 764 crore (I-direct estimate: | 773 crore) EBITDA margins declined 252 bps YoY to 10.3% (I-direct estimate: 10.6%) mainly due to an adverse segment mix. EBITDA declined 8% YoY to | 174 crore (I-direct estimate: | 181 crore) Adjusted net profit declined 51% to | 35 crore (I-direct estimate: | 54...
