Healthcare · ARTMSL
Hospitals
from 318 today
Revenue/EBITDA/PAT grew 13%/36%/47% YoY, with EBITDA margin expanding 340bps YoY to 19.6%.
Strong Q1 financials reinforce the thesis regarding client and patient mix despite West Asia crisis impacts. We value the stock at 30x FY28E EPS of Rs. 11.6 to arrive at a price target of Rs. 348.
Artemis Medicare Services delivered a strong Q1FY27 performance with revenue and EBITDA growing YoY, aided by higher ARPOB, richer case mix, operating leverage and cost efficiencies. We expect a Revenue/EBITDA/PAT CAGR of 28%/29%/33% over FY26–29E and maintain our Buy rating with a revised Target Price of Rs343.
We maintain our EPS estimates for FY27E/FY28E and value ARTMSL at 15x 1HFY29E EBITDA, arriving at a TP of INR 370. Maintain BUY.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
