KIMS - Sunshine, Nagpur Units Scalability On Track: Prabhudas Lilladher

Prabhudas Lilladher Report

We remain positive on Krishna Institute of Medical Sciences Ltd.’s occupancy, profitability and scalability post our recent hospital visits across Nagpur and Sunshine units.

KIMS will continue to focus on creating a strong cluster based investment approach and likely expand operations across Maharashtra and Karnataka region by adding more units.

Overall, we expect Nagpur plus Sunshine units Ebitda contribution to go up by two times (Rs 2.2 billion in FY25E versus Rs 1 billion in FY23) over FY23-25E.

We also expect ~17% consolidated Ebitda compound annual growth rate and best in class return ratios with return on equity/return on capital employed of ~20%/26% over the same period.

Our FY24 and FY25E Ebitda marginally stands reduced by ~2%.

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