A director at Apollo Hospitals Enterprise Ltd bought 4,500 shares at 6,688.889INR and the significance rating of the trade was 55/100. 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 la...
APOLLO HOSPITALS – ANNUAL REPORT UPDATE: Mobilizing resources for another healthy take off (APHS IN, Mkt Cap USD7.5b, CMP INR4170, TP INR5110, 23% Upside, Buy) We analyzed the FY22 Annual Report of Apollo Hospitals Enterprises (APHS) and present the key takeaways in this report. Our analysis indicates that APHS achieved the highest return ratio in FY22 historically, from an all-time low return ratio in FY21. The company exceeded pre-Covid profitability in FY22, driven by improved performa...
The independent financial analyst theScreener just slightly lowered the general evaluation of APOLLO HOSPS.ENTERPRISE (IN), active in the Health Care Providers industry. As regards its fundamental valuation, the title confirms its rating of 4 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As o...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Q3FY20 result highlights Consol revs grew 17% yoy to Rs29.1bn – above est of Rs28.2bn. Existing hospitals grew 9% vs est of 10% and new hospitals grew 16% yoy vs est of 11%. SAP revs grew +22% yoy to Rs12.3bn vs est of 17% Consol EBITDA (pre Ind AS 116) were above est at Rs3.6bn (+28% yoy); Q2 was Rs3.4bn. EBITDAM – 12.2% vs 11.1% last year (est – 11.9%); Standalone adj. EBITDA was Rs3.2bn above est of Rs3.1bn Mature hospital EBITDA came at Rs2.4bn inline with est; 12% growth yoy; 22.1% ma...
Event Apollo Hospitals has announced receipt of all regulatory approvals for stake sale in Apollo Munich Health Insurance business Key highlights Apollo has announced receipt of approvals from CCI, RBI and IRDAI. Post these approvals, the deal is now expected to close next week with the fund to promoters / company likely over 15 days This should enable promoters to meaningfully reduce pledges and for Apollo to also partially trim its debt during Jan’20 itself Mgt has guided that the prom...
Q2FY20 result highlights Consol revs grew 18% yoy to Rs28.4bn – above est of Rs27.2bn. Existing hospitals grew 13% vs est of 10% and new hospitals grew 9% qoq vs est of 5%. SAP revs grew +22% yoy to Rs11.7bn vs est of 17% Consol EBITDA (pre Ind AS 116) were above est at Rs3.4bn (+25% yoy); Q1 was Rs2.9bn. EBITDAM – 12% vs 11.3% last year; Standalone adj. EBITDA was Rs3.1bn above est of Rs2.9bn Mature hospital EBITDA came at Rs2.5bn above est of Rs2.4bn; 15% growth yoy; 22% margins – up +40...
Asiamoney Poll is live now. Request you to please take two minutes of your precious time to vote for us at Q1FY20 result highlights Consol revs grew 17% yoy to Rs25.7bn – in line with est. Existing hospitals grew 13% inline with est and new hospitals grew 20%, also. SAP revs grew +18% yoy to Rs10.57bn Consol EBITDA (pre Ind AS 116) were inline at Rs2.9bn (+27% yoy); Q4 was Rs2.8bn. Adj. EBITDAM – 14.1% vs 10.5% last year; Standalone adj. EBITDA was Rs2.7bn inline ...
Event HDFC Ltd will acquire 51.2% stake in Apollo Munich (Health insurance JV) Key highlights HDFC Ltd to pay Rs13.46bn to shareholders towards the stake buyout. This transaction has happened at ~1.5x Gross written premium - ~50% premium to the recent Max-BUPA stake sale transaction. Apollo Group will entirely exit the JV as part of this transaction. Apollo promoters own 40.8% of the JV with Apollo hospital (AHEL) owning ~10%. Employees own the balance 0.4% of the stake that’s being transa...
Q4FY19 result highlights Consol revs grew 19% yoy to Rs25.2bn – in line with est. Positive surprise from existing hospitals which grew 23% comparable to new hospitals which grew at 24%. SAP revs grew +18% yoy Consol EBITDA were in-line at Rs2.83bn (+52% growth yoy on a low base); EBITDAM – 11.2% vs 8.8% last year; Standalone EBITDA was Rs2.68bn vs est Rs2.7bn. Mature hospital EBITDA came at Rs2.17bn vs est Rs2.1bn; 27% growth yoy; 21.4% margins – up +70bps yoy; est 21.2%; Notably, company ...
Q3FY19 result highlights Consol revs grew 16.5% yoy to Rs24.9bn; in-line with est. Existing hospitals grew 11% vs est +6% growth; New hospital growth was broadly-inline- +23%. SAP revs grew +18% yoy below est +20 Consol EBITDA came at Rs2.77bn vs est Rs2.68bn; +27% growth yoy; EBITDAM – 11.1% vs 10.2% last year; 10.8% est; Standalone EBITDA was Rs2.76bn vs est Rs2.55bn; 12.3% vs est 11.9%. Consol EBITDA impacted by performance in some sub / JV hospitals like Ahmedabad etc. Mature hospital E...
Q2FY19 result highlights Standalone revs grew 13% yoy vs est 10%; Consol revs grew +15%. Standalone Pharmacy (SAP) grew 20% for the quarter. Mature hospitals grew +5% yoy while new hospitals grew +22% Standalone EBITDA came Rs2.57bn vs est Rs2.47bn; Consol EBITDA was Rs2.7bn up from Rs2.3bn in Q1; H1 Consol EBITDA is Rs5.04bn. There has been steady all around improvement in the business QoQ EBITDA growth was driven by 10% qoq growth in mature hospitals and continued EBITDA increase in new ...
Event Apollo Hospitals (AHEL) has initiated restructuring of its Standalone Pharmacy (SAP) business Key highlights Apollo (AHEL) also initiated the process of value unlocking in the SAP business. The process is constrained due to the foreign holding norms governing the retail business. Therefore Apollo has sought to create a regulatorily compliant structure for its SAP business. The retail front-end portion of the business is transferred through a slump sale to an entity APL (Apollo Ph...
Apollo Standalone Pharmacy (ASAP), India’s largest organized pharmacy retail business with 3,000 stores, has been Apollo Hospitals’ (Apollo) standout business since last few years. Relatively slower growth in Apollo’s healthcare services have overshadowed ASAP’s consistent performance (23% revenue and 37% EBITDA CAGR over FY15-18). The ASAP business is at now an inflection point with FY18 revenue/EBITDA of Rs32.7bn/Rs1.5bn, respectively, and RoCE of 15%. We estimate 18% CAGR in ASAP revenues ove...
Q4FY18 result highlights Standalone revenues of Rs18.6bn (+12% yoy) were in-line. Standalone pharmacy grew +6% (growth impacted by GST related accounting impact) and Healthcare services revs came at Rs10.7 bn (+17% yoy). Standalone EBITDA came in at Rs2.1bn (-4% qoq / +26% yoy) in-line. Margins came in marginally lower at 11.5% (flat qoq) vs est 11.8%. Existing hospitals margins came at 20.7% vs 20.6% in Q3 while new hospitals had EBITDA margins of 0.6%. Highlight was qoq improvement in Navi...
Q1FY18 result highlights Standalone revenues of Rs16.8bn (+15% yoy) below our est of Rs17.3bn. Revs were driven by +21% growth in standalone pharmacy. Healthcare services revs came at Rs9.2bn (flat qoq). Standalone EBITDA came significantly lower at Rs1.7bn (down 7% yoy) vs est Rs2.1bn. Margins came in at 10.3% (down 250bps yoy) vs est of 12%. Miss was due to lower margins in existing hospitals (19.7% vs 22.9% in Q1FY17), higher EBITDA loss in new hospitals led by Rs150m loss in Navi Mumbai ...
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