HealthCare Global Q4 Review - Growth Momentum To Continue: ICICI Securities

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ICICI Securities Report

HealthCare Global Enterprises Ltd.’s Q4 FY21 performance was broadly inline with our estimates driven by continued sequential recovery in the oncology hospital segment revenue that grew 8.8% QoQ.

However, higher than expected costs suppressed Ebitda margin to 13.2% (our estimate: 14.5%).

We expect the recovery trend to continue and normalcy to be achieved by H2 FY22E.

Recent capital infusion has removed the key overhang of high leverage with repayment of debt from the fund raising exercise.

We remain positive on the stock as the company is poised to grow positively hereon and strengthening of balance sheet with no major capex plan in near term.

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