Whalesbook
Margins sudharin, occupancy kam hone ke baad bhi!
Global Health (Medanta) ne Q4FY26 mein ekdum solid results diye hain. Revenue, EBITDA aur Net Profit mein zabardast year-on-year growth dikhi hai. Average Revenue Per Occupied Bed (ARPOB) 5% badha, jo service value aur pricing power ko dikhata hai, aur ye sab capacity expansion ke sath hua hai.
Naye Units mein occupancy kam, par margins badiya!
Agar Lucknow, Patna, aur Noida jaise naye units ki baat karein, toh wahan occupancy rates thodi kam thi, average 44%.
Lekin phir bhi, in newer operations (Noida chhod kar) ke margins 220 basis points badhkar 32.4% ho gaye. Matlab, kam utilization mein bhi cost management kaafi accha hai.
FY26 mein Global Health ne Noida, Patna, aur Ranchi mein 623 beds add kiye, jis se total capacity ab 3,665 beds ho gayi hai.
Analyst ka Bharosa: BUY Rating aur ₹1,400 Target!
Anand Rathi ko lagta hai ki Global Health aage bhi grow karegi. Unka forecast hai ki FY26 se FY28 ke beech revenue 15%, EBITDA 24%, aur net profit 18% CAGR se badhenge.
Brokerage firm ne BUY rating ko phir se confirm kiya hai aur price target ko ₹1,400 kar diya hai. Ye target FY28 ke estimated EV/EBITDA ke 26 times par based hai, jo company ke future earnings potential par bharosa dikhata hai.
Aage ki chunautiyan?
Jo naye facilities hain (Lucknow, Patna, Noida) wahan ki 44% occupancy rates thodi chinta ka vishay hai. Agar patient flow expectations se kam raha toh short-term profitability par asar pad sakta hai. Targetted occupancy aur profitability paana consistent patient acquisition aur competition manage karne par depend karega.
Anand Rathi ne price target ko thoda kam kiya hai, ₹1,400 (pehla ₹1,450 tha), jo growth forecasts mein ek chote adjustment ko indicate kar sakta hai.
Growth Outlook Positive hai!
Analysts ko lagta hai ki Global Health FY28 tak sustained revenue aur EBITDA growth dikhayegi. Naye capacity additions aur margin improvement strategies ismein help karenge. Healthcare sector mein badhti kharch aur aging population bhi Medanta ke growth plans ko support kar rahe hain. Ab market dekhega ki naye units kitni jaldi ramp-up hote hain aur overall profitability par uska kya asar padta hai.