Apollo Hospitals Enterprise Ltd

About [ edit ]

Apollo Hospitals was established in 1983 by Dr. Prathap C Reddy, renowned architect of modern healthcare in India. As the nation’s first corporate hospital, Apollo Hospitals is acclaimed for pioneering the private healthcare revolution in the country.

Apollo Hospitals has emerged as Asia’s foremost integrated healthcare services provider and has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies,
Primary Care & Diagnostic Clinics and several Retail Health models. #

Key Points [ edit ]
  • Market Cap 47,641 Cr.
  • Current Price 3,311
  • High / Low 3,397 / 1,253
  • Stock P/E 236
  • Book Value 218
  • Dividend Yield 0.18 %
  • ROCE 14.3 %
  • ROE 13.6 %
  • Face Value 5.00

Pros

  • Company has been maintaining a healthy dividend payout of 37.66%
  • Company's median sales growth is 17.72% of last 10 years

Cons

  • Stock is trading at 15.18 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.00%
  • Company has a low return on equity of 8.16% for last 3 years.
  • Promoters have pledged 27.94% of their holding.

Peer comparison

Sector: Healthcare Industry: Healthcare

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,210 2,412 2,495 2,500 2,572 2,841 2,912 2,922 2,172 2,761 2,760
1,981 2,141 2,222 2,220 2,218 2,427 2,482 2,542 2,159 2,470 2,370
Operating Profit 229 271 273 280 354 413 430 380 13 291 390
OPM % 10% 11% 11% 11% 14% 15% 15% 13% 1% 11% 14%
Other Income 5 3 12 23 10 9 10 203 8 47 21
Interest 76 81 84 85 126 134 137 135 127 122 101
Depreciation 95 97 98 105 144 155 157 164 160 149 125
Profit before tax 63 96 103 112 94 134 145 284 -267 66 185
Tax % 63% 44% 52% 35% 48% 38% 38% 26% 15% 10% 28%
Net Profit 34 63 57 82 57 86 92 219 -208 60 130
EPS in Rs 2.44 4.56 4.10 5.87 4.11 6.20 6.62 15.77 -14.96 4.33 9.38

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,614 2,026 2,605 3,148 3,769 4,357 5,129 6,150 7,256 8,243 9,617 11,247 10,614
1,386 1,726 2,183 2,631 3,161 3,685 4,394 5,446 6,524 7,442 8,553 9,660 9,541
Operating Profit 228 301 422 516 608 672 735 704 731 801 1,064 1,587 1,074
OPM % 14% 15% 16% 16% 16% 15% 14% 11% 10% 10% 11% 14% 10%
Other Income 16 32 12 23 36 21 50 72 62 25 31 225 278
Interest 46 60 78 89 103 119 118 180 257 295 327 533 486
Depreciation 63 75 95 124 142 168 212 264 314 359 396 620 599
Profit before tax 134 198 261 326 399 407 455 332 222 171 373 660 268
Tax % 36% 34% 33% 35% 26% 25% 29% 29% 41% 65% 47% 34%
Net Profit 102 138 184 219 304 317 340 236 221 117 236 455 202
EPS in Rs 8.51 11.13 14.75 16.31 21.88 22.77 24.43 16.99 15.88 8.44 16.96 32.69 14.52
Dividend Payout % 38% 31% 25% 25% 25% 25% 24% 35% 38% 59% 35% 18%
Compounded Sales Growth
10 Years:19%
5 Years:17%
3 Years:16%
TTM:-2%
Compounded Profit Growth
10 Years:13%
5 Years:6%
3 Years:27%
TTM:-36%
Stock Price CAGR
10 Years:21%
5 Years:20%
3 Years:46%
1 Year:160%
Return on Equity
10 Years:9%
5 Years:8%
3 Years:8%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
60 62 62 67 70 70 70 70 70 70 70 70 70
Reserves 1,401 1,592 1,768 2,401 2,677 2,907 3,101 3,261 3,240 3,182 3,264 3,270 3,066
Borrowings 671 913 957 817 1,213 1,344 1,992 2,834 3,125 3,427 3,673 3,596 3,270
493 675 815 698 854 1,029 1,297 1,195 1,668 1,917 2,159 4,354 3,903
Total Liabilities 2,624 3,242 3,602 3,983 4,814 5,350 6,459 7,360 8,103 8,596 9,166 11,289 10,309
1,044 1,322 1,530 2,011 2,341 2,681 3,244 3,997 4,591 4,773 4,982 7,432 6,490
CWIP 245 304 361 209 403 491 533 562 347 712 822 236 211
Investments 591 417 502 564 527 322 311 352 406 352 462 434 365
745 1,200 1,210 1,198 1,543 1,855 2,372 2,448 2,759 2,759 2,901 3,187 3,244
Total Assets 2,624 3,242 3,602 3,983 4,814 5,350 6,459 7,360 8,103 8,596 9,166 11,289 10,309

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
91 199 259 387 443 373 470 597 623 537 905 1,293
-271 -202 -441 -468 -733 -356 -759 -888 -1,152 -405 -711 -289
139 227 47 135 373 -63 392 330 477 -108 -215 -910
Net Cash Flow -40 224 -136 54 83 -46 103 39 -52 24 -20 94

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 11% 13% 14% 13% 12% 12% 9% 8% 7% 10% 14%
Debtor Days 39 40 42 45 46 44 43 36 38 37 39 33
Inventory Turnover 8.13 7.91 9.09 9.24 9.39 8.99 8.51 8.40 8.54 8.13 8.42 8.64

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
34.40 34.40 34.40 34.40 34.40 30.80 30.80 30.81 30.82 30.82 30.82 29.82
48.47 45.84 47.14 44.27 44.02 47.73 48.84 46.92 46.58 47.81 51.70 54.51
8.35 11.37 10.94 12.90 13.06 13.87 13.35 14.78 15.11 14.71 10.85 9.25
0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23
8.55 8.16 7.30 8.20 8.30 7.37 6.77 7.25 7.26 6.43 6.40 6.20

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