Dr.Agarwal'S Eye Hospital EBITDA jumped on 28.9% in 2015 and EBITDA Margin increased on 2.1 pp from 8.8% to 10.9%
26-05-2015 • About Dr.Agarwal'S Eye Hospital (
$DRAGARWQ) • By InTwits
Dr.Agarwal'S Eye Hospital reported FY2015 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Dr.Agarwal'S Eye Hospital ($DRAGARWQ) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,028 | 1,035 | 1,080 | 1,127 | 1,174 | 4.2% |
| EBITDA | 129 | 111 | 119 | 100 | 128 | 28.9% |
| Net Income | 20 | 16 | 31 | 24 | 57 | 134.4% |
Balance Sheet
|
|---|
| Cash | 30 | 40 | 57 | | | |
| Short Term Debt | 56 | 76 | 88 | | | |
| Long Term Debt | 193 | 147 | 124 | | | |
Cash flow
|
|---|
| Capex | 36 | 37 | | | | |
Ratios
|
|---|
| Revenue growth | -24.3% | 0.7% | 4.4% | 4.3% | 4.2% | |
| EBITDA growth | 12.6% | -14.0% | 7.5% | -16.3% | 28.9% | |
| EBITDA Margin | 12.5% | 10.7% | 11.0% | 8.8% | 10.9% | 2.1% |
| Net Income Margin | 2.0% | 1.5% | 2.9% | 2.2% | 4.9% | 2.7% |
| CAPEX, % of revenue | 3.6% | 3.6% | | | | 0.0% |
| ROIC | 16.4% | 14.8% | 17.9% | | | 0.0% |
| ROE | 18.9% | 13.0% | 21.8% | | | 0.0% |
| Net Debt/EBITDA | 1.7x | 1.7x | 1.3x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
The company's Revenue increased on 4.2% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin surged on 28.9 pp from 0.96% to 29.8% in FY2015.
Net Income marign increased on 2.7 pp from 2.2% to 4.9% in FY2015.
Appendix 1: Peers in Healthcare Services
Below we provide Dr.Agarwal'S Eye Hospital benchmarking against other companies in Healthcare Services industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kovai Medical Center & Hospital ($KOVAI) | -63.8% | 27.3% | 33.6% | 12.4% | |
| Fortis Malar Hospitals ($FORTISMLR) | | 13.5% | 2.2% | 11.1% | 9.2% |
| Vimta Labs ($VIMTALABS) | -18.5% | -8.7% | 24.9% | 8.4% | |
| |
|---|
| Median (3 companies) | -41.2% | 13.5% | 24.9% | 11.1% | 9.2% |
|---|
| Dr.Agarwal'S Eye Hospital ($DRAGARWQ) | | 0.7% | 4.4% | 4.3% | 4.2% |
Top companies by EBITDA margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Vimta Labs ($VIMTALABS) | 16.6% | 2.1% | 19.3% | 22.6% | |
| Kovai Medical Center & Hospital ($KOVAI) | 21.1% | 20.0% | 23.9% | 22.0% | |
| Fortis Malar Hospitals ($FORTISMLR) | 14.8% | 14.7% | 12.5% | 8.3% | 6.4% |
| |
|---|
| Median (3 companies) | 16.6% | 14.7% | 19.3% | 22.0% | 6.4% |
|---|
| Dr.Agarwal'S Eye Hospital ($DRAGARWQ) | 12.5% | 10.7% | 11.0% | 8.8% | 10.9% |
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Vimta Labs ($VIMTALABS) | 3.4% | 4.4% | 3.6% | 7.3% | |
| Kovai Medical Center & Hospital ($KOVAI) | 55.9% | 34.8% | 3.4% | 4.5% | |
| |
|---|
| Median (2 companies) | 9.6% | 10.4% | 3.5% | 5.9% | |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kovai Medical Center & Hospital ($KOVAI) | 14.5% | 11.5% | 18.0% | 18.4% | |
| Vimta Labs ($VIMTALABS) | -0.7% | -9.9% | 4.7% | 13.7% | |
| Kmc Speciality Hospitals (India) ($KMCSHIL) | 0.9% | 11.0% | 17.6% | -9.9% | |
| N.G.Industries ($NGIND) | 12.2% | 14.3% | 13.1% | | |
| Secunderabad Healthcare ($SECHE) | 0.4% | 0.2% | -0.1% | | |
| |
|---|
| Median (8 companies) | 6.0% | 11.3% | 14.5% | 13.7% | |
|---|
| Dr.Agarwal'S Eye Hospital ($DRAGARWQ) | 16.4% | 14.8% | 17.9% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Kmc Speciality Hospitals (India) ($KMCSHIL) | 6.0x | 3.2x | 2.3x | 7.7x | |
| Kovai Medical Center & Hospital ($KOVAI) | 4.4x | 4.5x | 2.5x | 2.0x | |
| Vimta Labs ($VIMTALABS) | 1.5x | 10.9x | 0.5x | 0.2x | |
| N.G.Industries ($NGIND) | 0.2x | -0.2x | 0.8x | 0.0x | |
| Chennai Meenakshi Multispeciality Hospital ($CMMHOSP) | 14.5x | 8.7x | 4.6x | 0.0x | |
| |
|---|
| Median (6 companies) | 4.4x | 4.5x | 2.3x | 0.1x | 0.0x |
|---|
| Dr.Agarwal'S Eye Hospital ($DRAGARWQ) | 1.7x | 1.7x | 1.3x | 0.0x | 0.0x |
