Krishna Institute of Medical Sciences (KIMS) Q1 24/25 earnings summary

Executive summary

• Gross revenue for Q1 FY25 reached INR 693 crore (₹6,884 million), up 13.8% year-over-year and 8.7% quarter-over-quarter, with EBITDA at INR 184 crore, up 14.9% year-over-year.

• PAT stood at INR 95.1 crore (₹952 million), up from INR 86.7 crore year-over-year and INR 71.6 crore quarter-over-quarter; EPS increased to INR 10.8.

• Bed occupancy declined to 49.8%, down 3.2% year-over-year.

• Significant operational achievements include a new acquisition in Vizag and continued expansion in Nashik, Thane, and Bangalore.

• Unaudited consolidated and standalone financial results for the quarter ended June 30, 2024, were reviewed and approved by the Board and Audit Committee, with an unqualified review report from statutory auditors.

Financial highlights

• ARPOB rose 21.3% year-over-year and 12.2% quarter-over-quarter; average revenue per patient increased 6.1% year-over-year.

• IP volume grew 7.5% year-over-year; OPD consults rose 10.2% year-over-year.

• EBITDA margin improved to 26.6% from 26.3% year-over-year and 25.5% quarter-over-quarter.

• PAT margin at 13.7% in Q1 FY25, up from 11.2% in Q4 FY24.

• Cash and cash equivalents at INR 185 crore as of Q1 FY25.

Outlook and guidance

• Expansion plans include new facilities in Nashik, Vizag, Bangalore, Mumbai, Srikakulam, Ongole, Anantapur, and Kondapur, with phased openings from Q2 FY25 to Q1 FY27.

• ARPOB and ALOS improvements are expected to be sustainable for the rest of the year.

• Margin profile is expected to remain stable despite new hospital launches, with any drag from Nashik offset by growth in other units.

• Occupancy rates targeted at 65%-70% over the next three to four years.

• Focus on digital transformation and ESG initiatives, including energy savings and paperless workflows.