reports
- Naveed Majeed
Asiri Hospitals Holdings: 1Q FY23 - Demand to recover in 2H; bottom li...
We use a 3-stage DCF valuation for ASIR and downgrade to HOLD with a revised TP of LKR 30.00/share (+7.5% upside; +9.7% TSR). ASIR reported an EPS of LKR 0.32 for 1Q FY23 (-58.8% QoQ; -35.0% YoY). Looking ahead, we expect near term demand pressures witnessed in 1Q to ease off while margins improve from current levels. However, a sharp pickup in interest costs looks to pressure the bottom line in the near term. HOLD.
- Naveed Majeed
Sri Lanka: Healthcare Sector Update 2022 - Bridging The Gap
* Healthcare models worldwide are undergoing fundamental changes which have accelerated since the COVID-19 pandemic. Sri Lanka is no exception when it comes to these changes in healthcare consumption, driven mainly by rising healthcare costs and government fiscal constraints. * Some of the key changes that we see in the Sri Lankan healthcare model are: 1. Increase in demand for diagnostics 2. Higher uptake of telemedicine services 3. Private hospitals shiftin...
Asiri Hospital Holdings PLC: 1 director
A director at Asiri Hospital Holdings PLC bought 1,162,729 shares at 51.905LKR and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last ...
- Naveed Majeed
Asiri Hospitals Holdings: 2Q FY22 - Growth trajectory to continue beyo...
We upgrade our target price to LKR 43.00/share (+16.2% to old; +47.2% upside) and, including a dividend of LKR 1.50/share for FY22E, derive a total return of +52.4%. BUY. ASIR reported an EPS of LKR 0.92 for 2Q FY22, surpassing our estimates for the quarter. Revenues were up sharply to LKR 5.8bn (+22.4% QoQ) with EBIT margins picking up 5.9pp QoQ to 26.2%. The strong result was mainly driven by COVID-19 services; however, barring any further outbreaks, we expect demand for these services to t...
- Naveed Majeed
Asiri Hospitals Holdings: 1Q FY22 - New revenue streams to support gro...
We maintain our target price of LKR 37.00/share based on a DCF valuation (13.9% WACC). Including a dividend of LKR 1.20/share for FY22E, we derive a total return of +28.6%. BUY. ASIR reported an EPS of LKR 0.50 for 1Q FY22, surpassing our estimates for the quarter. The group recorded its highest quarterly revenue of LKR 4.8bn, up 3.3% QoQ (+76.7% YoY) as surging demand for COVID-19 services offset the negative impact of travel restrictions on traditional sources of revenue. EBIT came in at LK...
- Isuri Munasinghe
Asiri Hospitals Holdings: Cautious on 3Q; Strong earnings pick-up from...
We roll over valuations to FY22E and value the stock 18.0x P/E, which derives us a TP of LKR 32.00/share (+36.8% upside, 41.0% TSR). BUY. A strong pick up in cardiac surgeries, operating cost savings, on top of a significant drop in net interest expense supported strong 2Q earnings. ASIR doesn’t expect to replicate a similar result in 3Q as 1) pick-up in surgeries was due to rescheduling from 1Q; i.e one off 2) operating cost saving are falling in 3Q as staff over time and SG&A expenses are p...
- Mangalee Goonetilleke
Asiri Hospitals Holdings: Earnings to stabilise from 2H FY21E onwards,...
Including the impact from COVID-19, we revise our discounted cash flow valuation based (WACC 12.5%) target price for Asiri Hospitals Holdings to LKR 18.00/share (previously LKR 23.70/share). Including a dividend of LKR 0.60/share, we expect a total return of +3.9%. We revise our rating to a HOLD from a BUY. ASIR reported a 4Q FY20 net profit to equity shareholders of LKR 15mn (-96.8% YoY). Revenues were up 3.6% YoY with the quarter impacted by the slowdown in footfall/surgeries due to COVID-...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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