Buy Jupiter Lifeline Hospital; target of Rs 1750: Anand Rathi

Anand Rathi is bullish on Jupiter Lifeline Hospital has recommended buy rating on the stock with a target price of Rs 1750 in its research report dated August 04, 2025.

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August 05, 2025 / 15:11 IST

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Anand Rathi's research report on Jupiter Lifeline Hospital

In line with our estimates and the consensus, Jupiter Lifeline Hospital reported healthy Q1 figures, with revenue/EBITDA up 21%/22% y/y. PAT, however, dipped a tad, 1% y/y due to higher interest cost and depreciation charges. Highlights: a) 1QFY26 ARPOB was Rs67,300/day, up 13% y/y. b) Overall occupancy in 1Q’26 was 60.1% vs. 63.9% last year. c) IPD and OPD revenues grew 19.6% and 15.5% y/y respectively, indicating strong service utilisation across the hospitals. d) Overall patient volumes increased by 11.7% y/y, reflecting consistent growth across the network. e) Capacity expansions are on track for Indore and Dombivli hospitals. f) In Jan’25, 78 beds were added in the Indore hospital with capex at Rs250m. g) Regulatory approval received for Bibvewadi hospital, Pune; construction to start post monsoon.

Outlook

We introduce our FY28e estimates and roll forward our valuations to 1HFY28E. We value the stock at 24x EV/EBITDA on 1HFY28e and recommend a Buy, with a revised TP of Rs1,750 (Rs1,700 earlier).

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