BSE: 539551 | NSE: NH | Hospital & Healthcare Services | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Narayana Hrudayalaya Ltd is a good quality company.
The key valuation ratios of Narayana Hrudayalaya Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Narayana Hrudayalaya Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.4% | 7.5% | 14.1% | 8.9% | 9.3% | 13.6% | 1.5% | 26.8% | 33.9% | 27.7% | - |
| Value Creation Index ⓘ | -0.4 | -0.5 | 0.0 | -0.3 | -0.3 | 0.0 | -0.9 | 1.0 | 1.5 | 1.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,364 | 1,614 | 1,878 | 2,281 | 2,861 | 3,128 | 2,583 | 3,701 | 4,525 | 5,018 | 5,224 |
| Sales YoY Gr. | - | 18.3% | 16.4% | 21.4% | 25.4% | 9.3% | -17.4% | 43.3% | 22.3% | 10.9% | - |
| Adj EPS ⓘ | -0.8 | 1.5 | 4.2 | 2.6 | 2.8 | 5.8 | -0.5 | 17 | 29.7 | 38.5 | 38.1 |
| YoY Gr. | - | NA | 182.3% | -37.6% | 8.9% | 106.7% | -108.2% | NA | 74.5% | 30% | - |
| BVPS (₹) ⓘ | 38.4 | 42.7 | 46.7 | 50 | 52.8 | 55.4 | 54.6 | 72.7 | 104.3 | 141.1 | 156.9 |
| Adj Net Profit ⓘ | -16 | 30 | 84.8 | 52.9 | 57.7 | 119 | -9.9 | 347 | 606 | 788 | 779 |
| Cash Flow from Ops. ⓘ | 76.7 | 174 | 219 | 182 | 279 | 443 | 304 | 485 | 1,085 | 1,067 | - |
| Debt/CF from Ops. ⓘ | 4.7 | 1.5 | 1 | 4.4 | 2.9 | 1.6 | 2 | 1.1 | 0.7 | 1.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.6% | 11.9% | 24.8% | 10.9% | ||||
| Adj EPS ⓘ | NA | 68.7% | NA | 30% | ||||
| BVPSⓘ | 15.6% | 21.7% | 37.2% | 35.3% | ||||
| Share Price | - | 34.1% | 31.5% | 12.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -2.4 | 3.6 | 9.2 | 5.3 | 5.5 | 10.7 | -0.9 | 26.6 | 33.5 | 31.4 | 25.6 |
| Op. Profit Mgn % ⓘ | 9.4 | 11.1 | 12.3 | 9.8 | 10.3 | 13.9 | 7.6 | 18.2 | 21.8 | 23.4 | 22.7 |
| Net Profit Mgn % ⓘ | 0.5 | 1.8 | 4.5 | 2.3 | 2 | 3.8 | -0.4 | 9.4 | 13.4 | 15.7 | 14.9 |
| Debt to Equity ⓘ | 0.5 | 0.3 | 0.2 | 0.8 | 0.8 | 0.6 | 0.6 | 0.4 | 0.4 | 0.5 | 0.4 |
| Working Cap Days ⓘ | 90 | 81 | 72 | 79 | 78 | 70 | 79 | 65 | 69 | 77 | 67 |
| Cash Conv. Cycle ⓘ | 5 | 4 | -4 | -3 | -3 | -9 | -14 | -13 | -17 | -22 | 26 |
Sales growth is growing at healthy rate in last 3 years 24.78%
Return on Equity has declined versus last 3 years average to 25.60%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 6.85%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 21 | 38.1 |
| TTM Sales (₹ Cr.) | 3,423 | 5,224 |
| BVPS (₹.) ⓘ | 95.3 | 156.9 |
| Reserves (₹ Cr.) ⓘ | 1,744 | 3,001 |
| P/BV ⓘ | 13.32 | 8.10 |
| PE ⓘ | 60.54 | 33.33 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1087.80 / 1445.05 |
| All Time Low / High (₹) | 181.35 / 1445.05 |
| Market Cap (₹ Cr.) | 25,954 |
| Equity (₹ Cr.) | 204.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 40.3 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,364 | 1,614 | 1,878 | 2,281 | 2,861 | 3,128 | 2,583 | 3,701 | 4,525 | 5,018 |
| Operating Expenses ⓘ | 1,238 | 1,437 | 1,649 | 2,061 | 2,566 | 2,701 | 2,394 | 3,038 | 3,544 | 3,851 |
| Manufacturing Costs | 463 | 534 | 625 | 776 | 929 | 988 | 862 | 1,080 | 1,287 | 1,400 |
| Material Costs | 341 | 387 | 436 | 557 | 688 | 745 | 678 | 909 | 1,001 | 1,074 |
| Employee Cost | 277 | 334 | 375 | 466 | 623 | 674 | 627 | 768 | 879 | 1,004 |
| Other Costs ⓘ | 158 | 182 | 213 | 263 | 327 | 294 | 227 | 280 | 377 | 372 |
| Operating Profit ⓘ | 126 | 177 | 229 | 220 | 295 | 427 | 189 | 663 | 980 | 1,167 |
| Operating Profit Margin (%) | 9.2% | 11.0% | 12.2% | 9.6% | 10.3% | 13.6% | 7.3% | 17.9% | 21.7% | 23.3% |
| Other Income ⓘ | 8 | 16 | 23 | 19 | 19 | 28 | 27 | 35 | 65 | 75 |
| Interest ⓘ | 45 | 33 | 28 | 55 | 81 | 94 | 82 | 76 | 84 | 112 |
| Depreciation ⓘ | 68 | 76 | 80 | 100 | 137 | 186 | 184 | 183 | 210 | 242 |
| Exceptional Items ⓘ | 0 | -11 | -1 | 1 | 0 | -11 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 21 | 51 | 135 | 80 | 93 | 161 | -56 | 430 | 752 | 889 |
| Tax ⓘ | 15 | 30 | 52 | 29 | 34 | 42 | -42 | 88 | 145 | 99 |
| Profit After Tax | 6 | 21 | 83 | 51 | 59 | 119 | -14 | 342 | 607 | 790 |
| PAT Margin (%) | 0.4% | 1.3% | 4.4% | 2.3% | 2.1% | 3.8% | -0.6% | 9.2% | 13.4% | 15.7% |
| Adjusted EPS (₹) | -0.8 | 1.0 | 4.1 | 2.5 | 2.9 | 5.8 | -0.7 | 16.7 | 29.7 | 38.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 35% | 17% | 0% | 6% | 8% | 10% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 768 | 873 | 954 | 1,022 | 1,079 | 1,133 | 1,117 | 1,485 | 2,131 | 2,884 |
| Share Capital ⓘ | 200 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 |
| Reserves ⓘ | 568 | 668 | 749 | 818 | 874 | 928 | 912 | 1,281 | 1,926 | 2,679 |
| Minority Interest | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Debt | 305 | 232 | 189 | 734 | 737 | 629 | 525 | 444 | 639 | 1,220 |
| Long Term Debt | 207 | 188 | 180 | 696 | 725 | 619 | 504 | 432 | 626 | 1,195 |
| Short Term Debt | 99 | 45 | 9 | 38 | 12 | 11 | 21 | 11 | 13 | 25 |
| Trade Payables | 136 | 161 | 207 | 305 | 334 | 362 | 410 | 449 | 615 | 604 |
| Others Liabilities ⓘ | 160 | 290 | 297 | 466 | 484 | 765 | 715 | 754 | 772 | 911 |
| Total Liabilities ⓘ | 1,370 | 1,556 | 1,647 | 2,528 | 2,633 | 2,889 | 2,768 | 3,133 | 4,157 | 5,619 |
Fixed Assets | ||||||||||
| Gross Block | 1,220 | 1,417 | 1,522 | 2,385 | 2,504 | 2,943 | 2,982 | 3,155 | 3,671 | 4,137 |
| Accumulated Depreciation | 307 | 363 | 440 | 537 | 666 | 851 | 1,022 | 1,175 | 1,334 | 1,486 |
| Net Fixed Assetsⓘ | 913 | 1,055 | 1,082 | 1,848 | 1,838 | 2,092 | 1,961 | 1,980 | 2,336 | 2,651 |
| CWIP ⓘ | 20 | 14 | 53 | 35 | 56 | 12 | 20 | 67 | 259 | 514 |
| Investmentsⓘ | 52 | 87 | 96 | 9 | 17 | 86 | 120 | 132 | 252 | 844 |
| Inventories | 51 | 50 | 52 | 84 | 83 | 60 | 48 | 59 | 72 | 110 |
| Trade Receivables | 143 | 152 | 157 | 279 | 266 | 262 | 279 | 437 | 432 | 422 |
| Cash Equivalents | 30 | 24 | 34 | 35 | 101 | 115 | 132 | 172 | 380 | 416 |
| Others Assetsⓘ | 161 | 175 | 173 | 238 | 271 | 262 | 209 | 285 | 427 | 662 |
| Total Assets ⓘ | 1,370 | 1,556 | 1,647 | 2,528 | 2,633 | 2,889 | 2,768 | 3,133 | 4,157 | 5,619 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 77 | 174 | 219 | 182 | 279 | 443 | 304 | 485 | 1,085 | 1,067 |
| PBT ⓘ | 21 | 51 | 135 | 80 | 93 | 161 | -56 | 430 | 752 | 889 |
| Adjustment ⓘ | 111 | 136 | 112 | 162 | 231 | 295 | 250 | 274 | 313 | 285 |
| Changes in Working Capital ⓘ | -32 | 22 | 8 | -27 | 8 | 53 | 56 | -152 | 105 | -15 |
| Tax Paid ⓘ | -22 | -35 | -37 | -34 | -54 | -66 | 54 | -67 | -86 | -91 |
| Cash Flow From Investing Activity ⓘ | -222 | -150 | -146 | -534 | -161 | -189 | -113 | -267 | -1,174 | -1,458 |
| Capex | -92 | -90 | -119 | -203 | -150 | -114 | -70 | -250 | -521 | -968 |
| Net Investments | -4 | -3 | -19 | -174 | -12 | -75 | -51 | -18 | -417 | -509 |
| Others ⓘ | -126 | -57 | -9 | -157 | 1 | 1 | 8 | 1 | -236 | 18 |
| Cash Flow From Financing Activityⓘ | 140 | 18 | -45 | 315 | -27 | -247 | -194 | -159 | 88 | 488 |
| Net Proceeds from Shares ⓘ | 200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -158 | 49 | -5 | 347 | 28 | -108 | -102 | -68 | 208 | 368 |
| Interest Paid ⓘ | -39 | -25 | -21 | -32 | -55 | -51 | -43 | -36 | -43 | -73 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | -49 | 0 | 0 | -20 | -51 |
| Others ⓘ | 137 | -6 | -20 | 0 | 0 | -39 | -48 | -55 | -57 | 244 |
| Net Cash Flow ⓘ | -5 | 42 | 28 | -36 | 90 | 8 | -2 | 59 | -2 | 97 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.88 | 2.54 | 9.09 | 5.2 | 5.64 | 10.77 | -1.27 | 26.3 | 33.55 | 31.5 |
| ROCE (%) | 6.36 | 7.45 | 14.09 | 8.94 | 9.34 | 13.61 | 1.46 | 26.83 | 33.92 | 27.71 |
| Asset Turnover Ratio | 1.08 | 1.1 | 1.17 | 1.09 | 1.11 | 1.13 | 0.91 | 1.25 | 1.24 | 1.03 |
| PAT to CFO Conversion(x) | 12.83 | 8.29 | 2.64 | 3.57 | 4.73 | 3.72 | N/A | 1.42 | 1.79 | 1.35 | Working Capital Days |
| Receivable Days | 37 | 33 | 30 | 35 | 35 | 31 | 38 | 35 | 35 | 31 |
| Inventory Days | 13 | 11 | 10 | 11 | 11 | 8 | 8 | 5 | 5 | 7 |
| Payable Days | 155 | 140 | 154 | 168 | 169 | 170 | 208 | 172 | 194 | 207 |
Narayana Hrudayalaya Limited was incorporated on July 19, 2000 under the Companies Act, 1956. The Company, headquartered in Bengaluru is engaged in providing economical healthcare services. The Company was rebranded as ‘Narayana Health’ in 2013. It has a network of multispecialty and superspeciality hospitals spread across multiple locations.
The company was founded by its Promoter Devi Prasad Shetty, who has over 30 years of medical experience, including as a cardiac surgeon. The company is headquartered in Bengaluru, India, and operates a national network of hospitals in India with a particularly strong presence in the southern state of Karnataka and eastern India, as well as an emerging presence in western and central India. The company’s ‘Narayana Health’ brand is strongly associated with its mission to deliver high quality and affordable healthcare services to the broader population by leveraging its economies of scale, skilled doctors, and an efficient business model.
Business area of the company
The company owns and operates certain hospitals and also enters into management agreements with hospitals under which the Company acquires the operating control of the hospitals.
Products and Services
Awards
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Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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