Asarfi Hospital Ltd

Asarfi Hospital Ltd

₹ 117 -0.81%
21 May 2:36 p.m.
About

Incorporated in 2005, Asarfi Hospital Ltd
provides primary health services & treatment
and specialized super speciality health service[1]

Key Points

Business Overview Asarfi Hospital Limited (AHL) operates three primary facilities:

  1. Super Multi-Specialty Hospital (Baramuri, Dhanbad)[1]
  2. Structure and Capacity: This hospital spans four blocks and six floors, with a constructed area exceeding 100,000 square feet on 92 decimals of land. It houses 250 beds, with plans to expand capacity to 350 beds.
  3. Specializations: Cardiology and Neurology are major departments, generating nearly 50% of hospital revenue. Other key specialties include emergency care, general medicine, pediatrics, orthopedics, and obstetrics & gynecology.
  4. Pharmacy Contribution: The hospital’s pharmacy contributed 25% of the revenue

  5. Asarfi Cancer Institute (Ranguni, Dhanbad)[2]

  6. Location and Size: Built on 9.55 acres of leased land from the Jharkhand Industrial Area Development Authority (JIADA).
  7. Capacity and Occupancy: Currently, the Cancer Institute operates with 50 beds across two floors, achieving an average occupancy rate of 57% as of H1 FY25. Plans are underway to expand capacity to 150 beds with an additional investment of ₹2-3 crores.
  8. Unique Positioning: It is the only dedicated cancer hospital within a 200 km radius, offering specialized oncology services including medical, surgical, and radiation oncology.
  9. Future Expansion: The facility is approved for construction of up to seven floors, enabling substantial expansion.

  10. Research Institute (Ranchi)[3]

  11. Location and Infrastructure: Located 4 km from Ranchi Airport, in proximity to HEC India, on 5.6 acres of acquired land for 13.5 Crs
  12. Development Plans: AHL plans to establish medical and non-medical research management courses by FY28. The land’s value has appreciated since its acquisition, estimated at ₹65 crores.
  • Market Cap 230 Cr.
  • Current Price 117
  • High / Low 122 / 52.8
  • Stock P/E 20.9
  • Book Value 41.4
  • Dividend Yield 0.00 %
  • ROCE 16.2 %
  • ROE 14.5 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 33.1% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Working capital days have increased from 47.2 days to 93.2 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Healthcare Industry: Healthcare

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023 Mar 2024 Dec 2024 Mar 2025
20.05 24.04 32.89 33.89
16.04 20.05 25.90 28.64
Operating Profit 4.01 3.99 6.99 5.25
OPM % 20.00% 16.60% 21.25% 15.49%
1.20 -0.41 0.89 4.87
Interest 0.60 0.76 1.18 1.35
Depreciation 3.25 3.49 3.04 3.23
Profit before tax 1.36 -0.67 3.66 5.54
Tax % 102.94% -76.12% 25.41% 30.87%
-0.05 -0.16 2.72 3.83
EPS in Rs -0.03 -0.08 1.38 1.95
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
43 54 65 69 81 121
37 46 54 55 65 97
Operating Profit 6 8 11 14 16 24
OPM % 15% 15% 17% 20% 20% 20%
0 0 1 2 2 8
Interest 1 1 1 1 3 4
Depreciation 2 3 3 4 9 13
Profit before tax 4 5 8 11 6 15
Tax % 27% 26% 26% 26% 33% 25%
3 4 6 8 4 11
EPS in Rs 21.48 28.83 46.79 5.53 2.14 5.58
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 23%
3 Years: 23%
TTM: 49%
Compounded Profit Growth
10 Years: %
5 Years: 33%
3 Years: 24%
TTM: 161%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 67%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 14%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 1 1 1 14 20 20
Reserves 12 16 21 27 51 62
5 7 12 17 32 49
9 13 28 34 52 34
Total Liabilities 28 37 63 93 154 164
18 22 31 39 94 101
CWIP 0 2 9 18 0 2
Investments 0 0 0 0 0 0
9 13 22 37 60 61
Total Assets 28 37 63 93 154 164

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
2 10 9 7 26 -4
-5 -16 -23 -21 -63 -8
2 6 14 15 36 13
Net Cash Flow 0 0 -0 1 -1 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 20 14 30 90 109 120
Inventory Days 23 13 16 26 32 30
Days Payable 156 23 34 91 445 171
Cash Conversion Cycle -113 5 11 25 -304 -20
Working Capital Days 18 -7 -4 52 -3 93
ROCE % 25% 29% 26% 11% 16%

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Mar 2024Sep 2024Mar 2025
61.17% 61.17% 61.17% 61.17%
3.26% 2.33% 1.95% 2.92%
35.58% 36.50% 36.89% 35.92%
No. of Shareholders 7061,2611,2841,262

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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