ICICI Securities: HealthCare Global Enterprises’ Capital Infusion Removes Key Overhang Of High Debt
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
HealthCare Global Enterprises Ltd.’s Q1 FY21 performance weak impacted by lockdown on hospital that resulted in occupancy dropping to 32.4% versus 45.8% YoY.
Q1 FY21 revenues declined 28.0% YoY and Ebitda margin dropped 670 basis points to 10.0% largely due to the impact of pandemic.
The company has received approximately Rs 5.1 billion through preferential allotment of equity shares and equity warrants (25% amount received upfront) to Aceso Company Pte. (part of CVC group).
The company will receive additional Rs 1.4 billion upon conversion of warrants including those issued to promoters within the next 18 months.
We believe this capital infusion removes the key overhang of high leverage with repayment of debt from this fund raising exercise.
Click on the attachment to read the full report:
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 brokerage 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.