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Q4FY22 Preview: Apollo Hospitals: Revenues seen at Rs36,715 million, PAT at Rs2,089 million

Strong show likely as compared to the year-ago quarter, weakness in sequential performance

May 23, 2022 11:30 IST | India Infoline News Service
Result date: 25th May, 2022
Recommendation: Buy
Target price: Rs5,400

Apollo Hospitals Enterprise (Apollo) could post 68% bed occupancy rates for the March 2022 quarter. With volumes of inpatient and outpatient segments growing 17% and 20%, respectively over the year-ago quarter; average revenue per occupied bed (ARPOB) could improve 10%. Pharma and hospital business could post robust revenue growth, taking overall growth in topline to 28%.

The Company’s EBITDA margin could inch up 84 basis points over the year-ago quarter. However, sequentially, this metric could decline 93 basis points to 15.2% amid lower non-COVID occupancies following the third wave of the pandemic.

Profit After Tax (PAT) could surge 46% over the year-ago quarter.

Important management insights to watch out for:
·         Growth outlook across all business segments
·         Breakeven of 24x7
·         Margin drivers in the future
 
Rs Million March 2022 estimates YoY change QoQ change
Revenue 36,715 28% 1%
EBITDA 5,581 36% (5)%
Profit After Tax 2,089 46% (9)%
Source: IIFL Research

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