Max Healthcare Q3 Results Review - Healthy Growth Despite Seasonality, High Base: Prabhudas Lilladher

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Max Healthcare Institute Ltd.'s reported Ebitda of Rs 4.7 billion (up 15% YoY) which came in-line with our estimates, aided by higher average revenue per occupied bed at Rs 76,800/day; up 15% YoY. The company showed phenomenal growth (19% Ebitda compound annual growth rate) over FY22-24, despite negligible capacity additions. We expect pick-up in the growth momentum given-Strong expansion plans (plus 3000 additional beds over FY24-27E), Improving payor mix (lower revenue contribution from low margin institutional versus 18% now) and Bolt on acquisitions like recently added unit in Lucknow. Operational efficiency has also been commendable, especially in competitive markets like NCR. Our FY25E/26E Ebitda stands increased by 4%/11% and we expect Ebitda/profit after tax to grow ~2 times over FY24-27E.We ascribe 30 times enterprise value/Ebitda and 40 times price-to-earnings ration based on FY26E. Maintain ‘Buy’ rating with revised target price of Rs 925/share and remains our top pick in space..Click on the attachment to read the full report:.Budget 2024: Government To Build More Hospitals, Encourage Cervical Vaccinations In Young Girls.This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Max Healthcare Q3 Results Review - Healthy Growth Despite Seasonality, High Base: Prabhudas Lilladher

Max Healthcare Institute : Strong expansion plans (plus 3000 additional beds over FY24-27E),` Bolt on acquisitions like recently added unit in Lucknow

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Max Healthcare Q3 Results Review - Healthy Growth Despite Seasonality, High Base: Prabhudas Lilladher

Max Healthcare Institute : Strong expansion plans (plus 3000 additional beds over FY24-27E),` Bolt on acquisitions like recently added unit in Lucknow

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