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Buy Rainbow Children’s Medicare; target of Rs 840: ICICI Direct

ICICI Direct is bullish on Rainbow Children’s Medicare recommended buy rating on the stock with a target price of Rs 840 in its research report dated March 28, 2023.

March 29, 2023 / 02:28 PM IST


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ICICI Direct's research report on Rainbow Children’s Medicare

Rainbow Children’s Medicare (RCML) is a leading chain of paediatric multi-speciality and perinatal hospitals in India, operating 16 hospitals and three clinics in six cities, with a total bed capacity of 1,655 beds. Paediatric: Perinatal revenues break-up- 70:30 • Revenue, EBITDA grew at CAGR of 21.5%, 27.1%, respectively, in FY19-22 • Healthy return ratios with last three-year’s average RoE, RoCE of 15.1%, 15.2%, respectively • RCML registered blended ARPOB of Rs 49,054 with occupancy at 54.2% and ALOS at 2.76 days for 9MFY23.


We value RCML at 19x FY25E EV/EBITDA to arrive at a target price of Rs 840.

For all recommendations report, click here

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Rainbow Children’s Medicare - 29 -03 - 2023 -icici

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first published: Mar 29, 2023 02:28 pm