Indraprastha Medical Corporation - Business Back On Track: HDFC Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Retail Research.Indraprastha Medical Corporation Ltd., a joint venture between Apollo Hospitals Enterprise Ltd. (holds 22% stake) and the State Government of Delhi (Government holds 26% stake) is a 764-bedded, super specialty tertiary care hospital with 52 specialty departments. Transplants, cardiology, oncology, neurology and orthopedic with higher revenue prospects are some of the key specialty departments of the hospital. The company has impeccable track record, long presence as well as quality of medical care supported by long term relationships with its doctors and other medical professionals. It drives significant tangible and intangible benefits from 'Apollo' brand value. During the pandemic, lock downs impacted the healthcare companies in India severely. There was a significant drop in patient footfall— be it a single speciality, multi-speciality, tertiary-care hospitals or even diagnostics businesses. Financial performance of Indraprastha Medical Corporation was also impacted due to the same, however, as the situation has stabilised, the company’s business has also got back on track. There was ~45% jump in revenue in FY22 and margins again also improved to ~13% in FY22 versus 6.6% in FY21. The company has negligible debt on balance sheet and has been paying healthy dividends to its shareholders. We have envisaged 18% compound annual growth rate in revenue and 32% CAGR in net profit over FY22-25E..Click on the attachment to read the full report:.Zomato - Wholesome Meal At A Deal: Motilal Oswal Initiates Coverage.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indraprastha Medical Corporation - Business Back On Track: HDFC Securities

Geographic concentration, govt regulations, ongoing litigations on free treatment to poor patients continue to remain key concerns

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