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ICICI Securities Report
Apollo Hospitals Enterprises Ltd.’s Q4 FY21 performance was better than estimate at margin level led by better profitability in hospitals and Apollo Health and Lifestyle Ltd.
Overall, revenues declined 1.9% YoY to Rs 28.7 billion with the removal of pharmacy front end business post demerger.
Ebitda margin stood at 14.4% versus estimated 13.7% led by stable occupancy levels and lower costs.
We expect performance to improve further in the coming quarters as occupancy level improves and management expects to sustain annual cost saving of ~Rs 1.2 billion.
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