Financials Global Health Limited

Equities

MEDANTA

INE474Q01031

Healthcare Facilities & Services

End-of-day quote NSE India S.E. Other stock markets 03:30:00 17/05/2024 am IST			5-day change	1st Jan Change
1,421 ^INR	+1.88%		+0.65%	+48.17%

17/05	Global Health Limited Reports Consolidated Operational Results for the Fiscal Year 2024	CI
17/05	Global Health Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024	CI

Valuation

Fiscal Period: March	2023	2024	2025	2026
Capitalization ¹	1,41,325	3,81,603	-	-
Enterprise Value (EV) ¹	1,41,325	3,54,739	3,73,011	3,68,520
P/E ratio	41.9 x	74.2 x	60.9 x	49.4 x
Yield	-	0.2%	0.25%	0.3%
Capitalization / Revenue	5.25 x	10.8 x	9.75 x	8.25 x
EV / Revenue	5.25 x	10.8 x	9.53 x	7.97 x
EV / EBITDA	23.1 x	44.4 x	36 x	29.6 x
EV / FCF	34.6 x	136 x	98.8 x	70.4 x
FCF Yield	2.89%	0.73%	1.01%	1.42%
Price to Book	5.82 x	13.1 x	10.9 x	9.01 x
Nbr of stocks (in thousands)	2,68,195	2,68,507	-	-
Reference price ²	527.0	1,421	1,421	1,421
Announcement Date	27/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2022	2023	2024	2025	2026
Net sales ¹	-	26,942	32,751	39,148	46,259
EBITDA ¹	-	6,122	7,991	10,364	12,459
EBIT ¹	-	4,623	6,263	8,557	10,558
Operating Margin	-	17.16%	19.12%	21.86%	22.82%
Earnings before Tax (EBT) ¹	-	4,493	6,271	8,490	10,445
Net income ¹	1,962	3,261	4,782	6,194	7,677
Net margin	-	12.1%	14.6%	15.82%	16.6%
EPS ²	7.770	12.57	17.80	23.34	28.77
Free Cash Flow ¹	-	4,085	2,751	3,775	5,236
FCF margin	-	15.16%	8.2%	9.64%	11.32%
FCF Conversion (EBITDA)	-	66.73%	32.32%	36.42%	42.02%
FCF Conversion (Net income)	-	125.29%	55.82%	60.94%	68.2%
Dividend per Share ²	-	-	2.800	3.600	4.200
Announcement Date	26/05/22	27/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	7,034	7,730	7,997	8,141	8,473
EBITDA ¹	1,631	1,843	1,908	2,030	2,196
EBIT ¹	1,252	1,439	1,510	1,650	1,728
Operating Margin	17.79%	18.62%	18.88%	20.27%	20.39%
Earnings before Tax (EBT) ¹	1,331	1,410	1,537	1,634	1,863
Net income ¹	1,011	1,020	1,094	1,173	1,304
Net margin	14.37%	13.2%	13.69%	14.41%	15.39%
EPS ²	3.760	3.800	4.100	4.300	4.600
Dividend per Share	-	-	-	-	-
Announcement Date	27/05/23	10/08/23	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: März	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-
Net Cash position ¹	-	-	7,080	8,592	13,083
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	4,085	2,751	3,775	5,236
ROE (net income / shareholders' equity)	-	16.1%	18.6%	19.4%	19.8%
ROA (Net income/ Total Assets)	-	8.98%	11.7%	12.7%	13.9%
Assets ¹	-	36,307	42,153	48,718	55,372
Book Value Per Share ²	-	90.50	108.0	130.0	158.0
Cash Flow per Share	-	-	-	-	-
Capex ¹	-	2,360	4,457	4,805	4,428
Capex / Sales	-	8.76%	13.29%	12.27%	9.57%
Announcement Date	26/05/22	27/05/23	17/05/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Global Health Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,421 INR

Average target price

1,353 INR

Spread / Average Target

-4.82%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Hospitals, Clinics & Primary Care Services

	1st Jan change	Capi.
GLOBAL HEALTH LIMITED	+48.17%	458.1Cr
AIER EYE HOSPITAL GROUP CO., LTD.	-18.52%	1.66TCr
BANGKOK DUSIT MEDICAL SERVICES	+5.41%	1.29TCr
IHH HEALTHCARE	+3.98%	1.18TCr
APOLLO HOSPITALS ENTERPRISE LIMITED	+4.38%	1.03TCr
ENCOMPASS HEALTH CORPORATION	+28.07%	860.43Cr
RAMSAY HEALTH CARE LIMITED	-4.98%	764.4Cr
THE ENSIGN GROUP, INC.	+6.76%	676.39Cr
MOUWASAT MEDICAL SERVICES COMPANY	+7.33%	640.17Cr
DALLAH HEALTHCARE COMPANY	-3.38%	432.52Cr

Hospitals, Clinics & Primary Care Services