NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
HealthCare Global Enterprises Ltd. Q1 consolidated Ebitda grew by 22% YoY (down 1% QoQ) to Rs 909 million; in line with our estimates. We expect margins to improve further, as benefit of ramp up in occupancy across centers should aid better operating leverage along with scale up in new centers.
HealthCare Global's asset light approach with focus on partnering has made its business model more capital efficient and scalable, in our view.
Our FY25/FY26E Ebitda stands increased by 6% and 11% as we factor in MG hospital acquisition while profit after tax stands reduced by 5% in FY26. We expect 26% Ebitda CAGR over FY24-26E.
At current market price, the stock trades at 13 times FY26E enterprise value/Ebitda adjusted for rentals. Maintain ‘Buy' rating with a target price of Rs 420/share valuing at 15 times on FY26E EV/Ebitda.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
