External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

HealthCare Global Enterprises / Equity Bottom-Up

<ul><li>We initiate coverage on HealthCare Global Enterprises Ltd (HCG) with a BUY rating and a target price of Rs 330, implying an upside potential of 32% from the current levels.</li><li>Oncology opportunity growing faster than the Healthcare market Oncology, with a 13% CAGR over FY16-19, is the fastest growing industry in the Healthcare market</li><li>HCG is expected to turn around its operating profitability with Operating EBITDA Margins improving by 680bps over FY21-FY24E</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We initiate coverage on HealthCare Global Enterprises Ltd (HCG) with a BUY rating and a target price of Rs 330, implying an upside potential of 32% from the current levels.Oncology opportunity growing faster than the Healthcare market Oncology, with a 13% CAGR over FY16-19, is the fastest growing industry in the Healthcare marketHCG is expected to turn around its operating profitability with Operating EBITDA Margins improving by 680bps over FY21-FY24EContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Health.Global: Leadership in Speciality Healthcare; Operating Profitability Turning Around

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

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Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

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<ul>
<li>With new centers scaling up, HCG reported industry leading revenue growth (10% QoQ). With capex cycle behind us, HCG is poised to post strong profitability, cash flow and growth.</li>
<li>Over the past 3 quarters, HCG has been consistently reporting highest-ever revenue. Its Q2FY22 revenue is highest ever in its history, even with exclusion of COVID and vaccination revenues. </li>
<li>HCG also reported its highest ever EBITDA of INR 65cr, leading to positive PAT (excluding non-recurring gains) after a long hiatus of 13 quarters.</li>
</ul>


With new centers scaling up, HCG reported industry leading revenue growth (10% QoQ). With capex cycle behind us, HCG is poised to post strong profitability, cash flow and growth.
Over the past 3 quarters, HCG has been consistently reporting highest-ever revenue. Its Q2FY22 revenue is highest ever in its history, even with exclusion of COVID and vaccination revenues. 
HCG also reported its highest ever EBITDA of INR 65cr, leading to positive PAT (excluding non-recurring gains) after a long hiatus of 13 quarters.


HCG: On Track For Sustainable Growth and Profitability

<p><a href="https://www.smartkarma.com/entities/healthcare-global-enterprises-limited" target="_blank" data-smartkarma-citation="entities:23983:1" rel="noopener">HealthCare Global Enterprises (HCG IN)</a> announced yesterday night that it has sold off its 38.5% (34.5% on a fully diluted basis) stake in Strand Life Sciences ("Strand") to Reliance Strategic Business Ventures, a 100% subsidiary of <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RIL IN)</a>. Strand is a genomics based research and diagnostics company.</p>

HealthCare Global Enterprises (HCG IN) announced yesterday night that it has sold off its 38.5% (34.5% on a fully diluted basis) stake in Strand Life Sciences ("Strand") to Reliance Strategic Business Ventures, a 100% subsidiary of Reliance Industries (RIL IN). Strand is a genomics based research and diagnostics company.

<p>Post equity infusion last year from CVC, a private equity player, HCG has been getting more and more disciplined in its capital allocation. In Q4FY21, it wrote-off investments related to most of its medium-term expansion plans and is now focusing solely on consolidating its existing operations, which in itself provides strong growth potential at high incremental ROC given that most of the capex is now behind us. Operational leverage from increased utilization of new centers should help boost margins.</p>

Post equity infusion last year from CVC, a private equity player, HCG has been getting more and more disciplined in its capital allocation. In Q4FY21, it wrote-off investments related to most of its medium-term expansion plans and is now focusing solely on consolidating its existing operations, which in itself provides strong growth potential at high incremental ROC given that most of the capex is now behind us. Operational leverage from increased utilization of new centers should help boost margins.

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>About the stock: HCG operates one of the largest private cancer care networks in India with end-to-end solutions available under a single corporate entity. This consists of 22 comprehensive cancer centres that provide a single point destination for complete cancer care.</p>
<ul>
<li>Most centres are on a lease or rental basis with some in partnership with local doctors or hospitals</li>
<li>Owing to exclusive agreement with vendors, HCG procures equipment on a deferred payment basis</li>
</ul>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: HCG operates one of the largest private cancer care networks in India with end-to-end solutions available under a single corporate entity. This consists of 22 comprehensive cancer centres that provide a single point destination for complete cancer care.

Most centres are on a lease or rental basis with some in partnership with local doctors or hospitals
Owing to exclusive agreement with vendors, HCG procures equipment on a deferred payment basis

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthcare Global Enterprises: Recovery in Q1 with Better Margins

India

HealthCare Global Enterprises Limited provides medical and surgical hospital services. The Hospital offers cancer care, chemotherapy, cyberknife surgery, surgical, radiation, and medical oncology services. HealthCare Global Enterprises operates worldwide.

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HealthCare Global Enterprises (HCG IN)

Health.Global: Leadership in Speciality Healthcare; Operating Profitability Turning Around

We initiate coverage on HealthCare Global Enterprises Ltd (HCG) with a BUY rating and a target price of Rs 330 (EV/EBITDA 15x for FY24E EBITDA),...

Axis Direct

HCG: On Track For Sustainable Growth and Profitability

In line with our thesis, HCG is poised to post strong growth, profitability and cash flows as its new centers scale up. With capex cycle behind us...

Ankit Agrawal, CFA

HCG: Sale of Strand Business

HCG announced sale of its stake in Strand. At the same time, it also acquired Strand's specialty oncology diagnostics segment to continue its...

Ankit Agrawal, CFA

HCG: Getting Disciplined

Over last 1Y, HCG has restructured itself significantly to streamline its capital allocation and consolidate its existing operations. With capex...

Ankit Agrawal, CFA

Healthcare Global Enterprises: Recovery in Q1 with Better Margins

HCG operates one of the largest private cancer care networks in India with end-to-end solutions available under a single corporate entity. This...

ICICI Securities Limited

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