ICICI Direct's research report on Narayana Hrudayalaya
NHL operates a chain of multispecialty, tertiary & primary healthcare facilities that initially focused on cardiac & renal but expanded to cancer, neurology, neurosurgery, orthopaedics & gastroenterology facilities. NHL’s network comprises 22 hospitals (including two managed hospitals), five heart centres, 19 primary care facilities (including clinics and information centres) and a multi-speciality hospital in Cayman Islands) Revenue mix Q3FY22 – India: Rs 771.7 crore; (Bangalore:34%, Southern Peripheral:7%, Kolkata:26%, Eastern Peripheral: 5%, Western: 15%, Northern: 13%); Cayman Islands: US$24.9 million
Outlook
We maintain BUY due to 1) consistency in pick-up for elective surgeries in India, 2) steady performance at Cayman Islands and 3) judicious plan to convert/add margin accretive beds or units at existing hospitals We value Narayana at an SOTP of Rs 765 by valuing matured India & Cayman hospitals at 14x FY24E EV/EBITDA, new hospitals at 2x and other business at 1x FY23E EV/sales.
More Info on Trent
At 15:31 hrs Narayana Hrudayalaya was quoting at Rs 653.65, up Rs 6.20, or 0.96 percent.
It has touched an intraday high of Rs 662.35 and an intraday low of Rs 638.40.
It was trading with volumes of 3,027 shares, compared to its thirty day average of 14,894 shares, a decrease of -79.68 percent.
In the previous trading session, the share closed up 1.01 percent or Rs 6.50 at Rs 647.45.
The share touched its 52-week high Rs 679.15 and 52-week low Rs 380.05 on 07 February, 2022 and 25 March, 2021, respectively.
Currently, it is trading 3.75 percent below its 52-week high and 71.99 percent above its 52-week low.
Market capitalisation stands at Rs 13,358.04 crore.
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