Narayana Hrudayalaya Q2 Results Review - Strong Show; Earnings Upgrade Continues: Prabhudas Lilladher

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..Prabhudas Lilladher Report.Narayana Hrudayalaya Ltd. reported healthy Ebitda at Rs 3.1 billion (up 26% YoY), 11% beat to our estimate. Both India (Rs 1.9 billion; up 28% YoY) and Cayman ($14.6 million; up 20% YoY) reported healthy profitability. We expect this growth momentum to sustain. Narayana Hrudayalaya reiterates its aggressive capex plan mainly towards its core and high performing regions such as Bangalore, Kolkata and Cayman which enhances growth visibility. Despite capex intensity going up, return on equity/return on capital employed will remain healthy at ~25%. Our FY24E and FY25E Ebitda stands increased by 7% and 4%.; respectively. We maintain ‘Buy’ rating with a revised target price of Rs 1,250/share (earlier at 1,110/share), based on 22 times September-2025E enterprise value/Ebitda for India business and 12 times EV/Ebitda for Cayman hospitals. At current marker price, stock is trading at attractive valuations of 18 times EV/Ebitda (adjusted for IND Accounting Standard). Faster ramp up in new Cayman unit (operationalize from H1 FY25) will be a key..Click on the attachment to read the full report:.Fortis Healthcare Q2 Results Review - Inline; Scale Up In Hospital Margins Is Key: Prabhudas Lilladher.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.

Narayana Hrudayalaya Q2 Results Review - Strong Show; Earnings Upgrade Continues: Prabhudas Lilladher

Booked Rs 60 million of one-time loss from Narayana Health Integrated Care unit.

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