HealthCare Global Enterprises Q2 Results Review - Healthy Margin Outlook: Prabhudas Lilladher
Company's asset light approach with focus on partnering has made its business model – capital efficient and scalable.
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Prabhudas Lilladher Report
HealthCare Global Enterprises Ltd.’s consolidated post India Accounting Standard Ebitda grew healthy 21% YoY (4% QoQ) to Rs 747 million, in line with our estimates (Rs 754 million).
Adjusted for one time consulting (Rs 50 million) and employee stock ownership plan related charges (Rs 12.9 million); was up by 28% YoY.
Existing centers reported strong profitability with Ebitda growth of 30% YoY (4% QoQ) to Rs 777 million, while new centers reported Ebitda at Rs 95 million (Rs 195 million in H1 FY23).
Margins improved by 10 basis points QoQ (25 bps YoY) to 17.8% on cost rationalisation initiatives.
Margins adjusted for one off were at 19.3%. HCG’s asset light approach with focus on partnering has made its business model – capital efficient and scalable.
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