ICICI Securities research report on HealthCare Global Enterprises
HealthCare Global Enterprises’ (HCG) Q1FY26 result was in line with our expectations. Revenue grew 16.7% YoY driven by new centres in Mumbai (+28% YoY), Kolkata (+17% YoY) and Ahmedabad (+22% YoY) while key cluster of Karnataka and East India grew at a moderate pace. Occupancy ex-Vizag hospital stood at a record 76% (reported 67.1%) which we believe may have hit a trough and HCG may have to add more beds through organic/M&A route to maintain the momentum.
Outlook
We raise EBITDA by ~1% each for FY26/27E to factor in higher contribution from metro cities. Maintain HOLD with a higher TP of INR 590, based on 17x FY27E EV/EBITDA.
For all recommendations report, click here
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
