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Kovai Medical Center Hospital Ltd
BSE: 523323 NSE: KOVAI
ISIN: INE177F01017
Market Cap: [Rs.Cr.] 206
Face Value: [Rs.] 10
Industry: Healthcare
Kovai Medical Centre & Hospital (Kovai) a leading south Indian
850 bed city-based hospital and reporting better-than- expected quartery results,
led by healthcare industrial growth.
Topline for the year 2012-13 is expected to growth by 44% from Rs 222Cr to Rs 319 Cr.
The bottomine is expected to post a growth of 123 % from Rs 12.1 Cr to Rs 27 Cr
Kovai`s profitability witnessed pressure mainly on the back of higher than expected
interest cost from Rs 28 Cr in 2013 to Rs 17 Cr in 2012.
EPS of Rs. 24.6 and at CMP as on 3/1/2013 Rs. 185 the stock trades
at forward PE of 7.5 x as against industrial PE of 34x
The book value shall be Rs 77.8 (after expected payout of Rs 2.6 per share)
Thus forward P/BV is 2.37x as against industrial PE of 4.7x
Considering the above a price target of Rs. 285 at PE 11.6x seems within reach by september 2013
The investment of Rs 240 Cr made in 2011-12 for expansion plans, equipment and
providing specialty services has increased beds capacity by 200.
Kovai has also started medical college providing all paramedical courses for post graduation programmes.
The institution serving to people of kerala as well as tamil nadu have mainitained good rapport with political heads of state and visibility in media
The loan book after implementation of expansion is Rs 208 Cr
http://www.kmchhospitals.com/about_us/press/2012/07/KMCHNABH-TheHindu11072012PGNo5.html
THE STOCK HAS MOVED FROM Rs 100 to Rs 185 since first review in March 2012
Updates Feb 2013
BSE: 523323 NSE: KOVAI
ISIN: INE177F01017
Market Cap: [Rs.Cr.] 206
Face Value: [Rs.] 10
Industry: Healthcare
Kovai Medical Centre & Hospital (Kovai) a leading south Indian
850 bed city-based hospital and reporting better-than- expected quartery results,
led by healthcare industrial growth.
Topline for the year 2012-13 is expected to growth by 44% from Rs 222Cr to Rs 319 Cr.
The bottomine is expected to post a growth of 123 % from Rs 12.1 Cr to Rs 27 Cr
Kovai`s profitability witnessed pressure mainly on the back of higher than expected
interest cost from Rs 28 Cr in 2013 to Rs 17 Cr in 2012.
EPS of Rs. 24.6 and at CMP as on 3/1/2013 Rs. 185 the stock trades
at forward PE of 7.5 x as against industrial PE of 34x
The book value shall be Rs 77.8 (after expected payout of Rs 2.6 per share)
Thus forward P/BV is 2.37x as against industrial PE of 4.7x
Considering the above a price target of Rs. 285 at PE 11.6x seems within reach by september 2013
The investment of Rs 240 Cr made in 2011-12 for expansion plans, equipment and
providing specialty services has increased beds capacity by 200.
Kovai has also started medical college providing all paramedical courses for post graduation programmes.
The institution serving to people of kerala as well as tamil nadu have mainitained good rapport with political heads of state and visibility in media
The loan book after implementation of expansion is Rs 208 Cr
http://www.kmchhospitals.com/about_us/press/2012/07/KMCHNABH-TheHindu11072012PGNo5.html
THE STOCK HAS MOVED FROM Rs 100 to Rs 185 since first review in March 2012
Updates Feb 2013
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