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Feb 14, 2017, 01.55 PM | Source: Moneycontrol.com

Hold Narayana Hrudayalaya; target of Rs 341: Axis Direct

Axis Direct recommended hold rating on Narayana Hrudayalaya with a target price of Rs 341 in its research report dated February 08, 2017.

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Hold Narayana Hrudayalaya; target of Rs 341: Axis Direct

Axis Direct recommended hold rating on Narayana Hrudayalaya with a target price of Rs 341 in its research report dated February 08, 2017.

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, Axis Securities Limited |


Axis Direct's research report on Narayana Hrudayalaya

We believe NH is entering a strong growth phase, as capacity utilization ramps up and new beds get added. We expect occupancy to improve further over the next 3 years. As bulk of the capex is over, we expect 20% revenue CAGR coupled with 450 bps improvement in EBITDA margin to 16% (as utilization improves) over FY16-20.

Outlook

While immediate upside is capped, we believe, the stock can compound at 15% given earnings are back-ended and 3x increase in EBITDA to Rs 5 bn expected by FY20. Maintain HOLD with DCF based TP of Rs 341(implies 24x FY18E EV/EBITDA).

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Hold Narayana Hrudayalaya; target of Rs 341: Axis Direct

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