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Looking at growth rate of 17-18%: Apollo Hospitals
Apollo Hospitals has decided to sell its 33% stake in Lanka Hospital to Sri Lanka Insurance Corportaion. The company will garner Rs 65 crore from the stake sale. The hospital's Group President K Padmanabhan says that the money that they will get will be used for implementing some of the projects that they have in hand.
Q: What about raising capital from global markets? There was a talk of an FCCB issue?
A: We evaluated the FCCB issue about four to five months back when the market was looking fairly good for FCCBs. But we are looking at raising that money more like a war chest in terms of funding any major expansions or major acquisitions that we may have in mind. But at this point of time we are not looking at fund raising at least for the next six months to one year.
Q: Are you re-looking that FCCB plan to build that war chest?
A: Not immediately because now with the additional funds that are coming in from Sri Lanka, we are pretty much well funded for taking care of any investment plans over the next 12-18 months.
Q: A general macro question on the pharma industry as a whole with the kind of ramp up we have seen, what sort of CAGR, Compound Annual Growth Rate, would you see the industry revenue growing over two to three years given the kind of consolidation you have seen in the industry?
A: We are looking at something like 17-18% a year.
Q: Is that the industry figure or can we take that for Apollo Hospitals as well, or will you be bettering the industry standards?
A: I think the industry figure may not be too far behind.
