Moneycontrol PRO
Live Now |Traders Carnival 15th Edition - 3 days 12 sessions Virtual Event brought to you by Moneycontrol Pro

Accumulate Narayana Hrudayalaya; target of Rs 561: Geojit

Geojit recommended accumulate rating on Narayana Hrudayalaya with a target price of Rs 561 in its research report dated June 08, 2021.

June 09, 2021 / 01:09 PM IST
  • bselive
  • nselive
Todays L/H

Geojit's research report on Narayana Hrudayalaya

Narayana Hrudayalaya Ltd (NH) is a chain of multi-specialty hospitals operating in India and the Cayman Islands. NH revenues in Q4FY21 grew by 12.8% YoY to Rs.838cr with strong recovery in the Indian business and continued momentum in Cayman Islands. The Q4FY21 operating profit recorded a 47.3% YoY growth to Rs.141cr as the hospitals started performing higher volumes of elective procedures. Health City Cayman Island’s expansion is expected to be completed in the next 24 months with niche offerings such as fully fledged oncology services. We expect a revenue CAGR of 24% over FY21-FY23E on the back of eased travel restrictions, HCCI expansion and a strong liquidity profile. We feel that the current valuations have adequately factored in the positive triggers for NH.


Hence we downgrade our rating from “Buy” to “Accumulate” based on 20x FY23E EV/EBITDA with a target price of Rs.561.

For all recommendations report, click here

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

Broker Research
first published: Jun 9, 2021 01:09 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark