Global Health (MEDANTA) stands as a prominent tertiary care service provider, firmly established in the North and East regions of India Come from Sports betting site VPbet . Committed to offering specialised medical care in densely populated yet underserved areas, Medanta has strategically developed its network of hospitals in Gurugram, Indore, Ranchi, Lucknow, Patna, with an upcoming facility in Noida. Within a remarkable span of just 15 years, the organisation has impressively expanded its bed capacity to nearly 2,700 beds and has ambitious plans to add more than 1,300 additional beds over the next three years.
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Medanta’s team of senior clinicians and nurses has effectively met the diverse therapeutic needs of a wide-ranging patient community, positioning it as the preferred healthcare destination. The company has demonstrated exceptional financial performance, achieving a staggering 17% CAGR in revenue, 35% CAGR in Ebitda, and a remarkable 47% CAGR in PAT from FY19 to FY23. This impressive growth has resulted in revenue reaching Rs 27 billion, Ebitda at Rs 6.2 billion, and a PAT of Rs 3.3 billion for FY23. We anticipate that this positive momentum will continue, with a projected CAGR of 14% in revenue, 17% in Ebitda, and 26% in PAT from FY23 to FY25, ultimately reaching Rs 35 billion, Rs 8.5 billion, and Rs 5.2 billion, respectively. This projected growth will be driven by several factors: (i) higher volume of patients being treated at new hospitals, (ii) scale-up in international patient flow, and (iii) enhancement in average revenue per occupied bed (ARPOB) supported by a more favourable payor mix and case mix.
The robust demand for healthcare services in the cities where Medanta operates necessitates the addition of more beds. It is pursuing capacity expansion in Lucknow and Patna to meet this demand. Given its promising business prospects and healthy cash reserves, we value Medanta at 23x EV/EBITDA to establish a target price of Rs 840.
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