The shares of Narayana Hrudayalaya Ltd. shot up by 11% for a price of ₹856.00, reaching a 52-week high on Monday’s session. One of the probable reasons for the stock to hit a high price is the company’s recent announcement of strong Q4 FY 22-23 earnings. The company posted a 29.9 percent growth in revenue at ₹ 1,221.6 crore for the March quarter and reported margins of 22.6 percent.
Narayana Hrudayalaya Pvt. Ltd. owns and operates hospitals in India. It specializes in cardiac, oncology, medical services, surgical, diagnostic, and support services.
As per the consolidated financials of the previous quarter, their operating revenues have increased by 8.24 percent from ₹ 1,128 crores in Q3 to ₹ 1,221 crores in Q4 FY23. Similarly, for the YoY comparison, the revenues increased from ₹3,701 crores during FY 21-22 to ₹4,524 crores in FY 22-23.
Their net profit has increased by 13% from ₹153 crores against ₹173 crores in the corresponding quarter of the previous financial year, Similarly, for a YoY comparison, the net profit significantly increased from ₹350 crores during FY 21-22 to ₹606 crores in FY 22-23.
The basic profitability ratios exhibiting operational efficiencies such as return on equity (ROE) and return on capital employed (ROCE) showed an upward trend in this financial year. ROE moved from 22.96 percent during FY 21-22 to 28.44 percent in FY 22-23 and ROCE, keeping the time frame the same, moved from 21.46 percent to 25.86 percent and the debt-equity ratio stands at 0.36
Geojit Financial Services Ltd has recommended a target price of ₹ 910, or 11.23 % upward from the current levels.
Indian billionaire entrepreneur Kiran Mazumdar Shaw holds a 2.30 percent stake in the Narayana Hrudayalaya Pvt.
According to the latest data pertaining to the shareholding pattern, the promoters hold a 63.85 percent stake, and foreign institutional investors (FIIs) hold a 10.36 percent stake in the company for FY 22-23.
Written by Omkar C
The post Healthcare Stock Jumps up to 11% to reach new 52 week high after company reports strong Q4 results appeared first on Trade Brains.
