Global Health (MEDANTA) Q4 21/22 earnings summary

Executive summary

• FY22 consolidated revenue rose to ₹216,658.94 lakh from ₹144,674.32 lakh; profit after tax increased to ₹19,619.79 lakh from ₹2,880.73 lakh.

• Activity rebounded after COVID restrictions weighed on volumes and elective procedures in Q1; performance improved significantly in subsequent quarters.

• Operations comprised five hospitals across Gurugram, Indore, Ranchi, Lucknow and Patna, with 2,404 installed beds and a Noida hospital planned for FY25.

Financial highlights

• Consolidated revenue from operations was ₹216,658.94 lakh vs ₹144,674.32 lakh; profit before tax was ₹28,055.71 lakh vs ₹3,246.56 lakh.

• Consolidated PAT was ₹19,619.79 lakh vs ₹2,880.73 lakh; basic/diluted EPS was ₹7.78/₹7.77 vs ₹1.15/₹1.14, after reflecting the share split.

• Standalone revenue was ₹176,424.92 lakh vs ₹122,739.81 lakh; PAT was ₹21,878.40 lakh vs ₹5,728.50 lakh.

• Consolidated operating cash flow was ₹31,126.17 lakh vs ₹21,177.09 lakh; investing cash outflow was ₹42,088.24 lakh, including property, equipment and construction spending.

Outlook and guidance

• Noida hospital was planned to begin operations in FY25 with expected installed capacity of 300 beds.

• IPO plan contemplated a fresh issue of up to ₹500 crore and an offer for sale of up to 48.44 million shares; completion was subject to market conditions and other relevant factors.

• Patna facility received Bihar government approval for phase II operation at 300 beds on July 7, 2022.