Aster DM Healthcare Q4 Review - India Recovers; GCC Recovery Remains Slow: ICICI Securities

A healthcare worker provides care for a patient in the intensive care unit. (Photographer: Jeremy Suyker/Bloomberg)

Aster DM Healthcare Q4 Review - India Recovers; GCC Recovery Remains Slow: ICICI Securities

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Aster DM Healthcare Ltd.’s Q4 FY21 performance was broadly in-line with our estimates, though margin was lower due to higher selling, general and administration expenses, particularly related to Covid-19 patients which would normalise.

Overall occupancy improved marginally YoY and QoQ to 58% during Q4 FY21.

Consolidated revenue grew 4.8% YoY to Rs 23.9 billion (our estimate: Rs 23.2 billion), India hospitals witnessed healthy recovery with 19.7% YoY growth.

Ebitda margin declined 370 basis points YoY to 14.0% (our estimate:15.7%) due to significant rise in other expenses.

We expect overall business to stabilise in FY22 and expect strong 15.3% revenue compound annual growth rate over FY21-FY23E.

Click on the attachment to read the full report:

ICICI Securities Aster DM Q4FY21 Results Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint 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 BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.