The promoter group family of Apollo Hospitals Enterprise Ltd (AHEL) will be issuing five million shares through secondary placement to raise around $101 million (Rs 720 crore).
The aim is to reduce the promoters' pledged shares in the company. The deal, for which Citi Group is acting as placement agent and building the book (the term for getting enough investors to buy into a new share issue), is expected to happen in a day or two.
Shares of Apollo Hospitals Enterprise Ltd have gained 10% since it announced its June quarter results on 13 August. With the performance reassuring investors on asset optimization and profit metrics, the stock hit a new 52-week high of ₹1,4687 on Friday.
Losses the company’s new ventures, housed under Apollo Health and Lifestyle Ltd, reduced significantly.
Apollo Hospitals (APHS) reported Q1FY20 results on August 13. For the quarter, revenues came in at Rs 22.3 bn, up 17% y-y and 2% above our forecast of Rs 21.8 bn. EBITDA pre IND AS 116 acc-ounting change was at Rs 2.7 bn, up 21% y-y and 3% ahead of our estimate. Repo-rted PAT came in at Rs 793 mn, 1% below our estimate. EBITDA margin pre IND AS 116 was at 12.3%, higher by 43bp y-y and 11bp against our estimate. This was due to positive surprise in EBITDA marg-in of new hospitals ex-Proton that was at 8.3% vs our estimate of 5.8%.
Shares of Apollo Hospitals Enterprises rallied 7 per cent intra-day to Rs 1,454 apiece on the BSE on Friday, also its 52-week high, on strong June quarter results for FY20 (Q1FY20). The stock has surged 10 per cent at the bourses since Tuesday, when it reported more than double consolidated net profit at Rs 49 crore. The company had a profit of Rs 23 crore in the year-ago quarter. The stock is 6 per cent away from its all-time high level of Rs 1,544 touched on March 2, 2016.
Apollo Hospitals Enterprise (AHEL) has reported a 32% growth in its net profit for the quarter ended June 30, 2019 to Rs 79.30 crore as compared to Rs 60.20 crore in the same quarter last fiscal. Revenue grew 17% to Rs 2,229.20 crore as compared to Rs 1,910.40 crore in the same quarter last fiscal.
As on June 30, 2019, Apollo Hospitals had 7,348 operating beds across the network (excluding AHLL & managed beds), out of which 13 were new hospitals with 1,870 operating beds.
Microsoft India and Apollo Hospitals have set up a National Clinical Coordination Committee (NCCC) for the AI-powered Cardiovascular Disease Risk Score API (application program interface), as part of Microsoft’s AI Network for Healthcare initiative.
The committee consists of leading doctors from Apollo Hospitals; All India Institute of Medical Sciences, New Delhi; and King George’s Medical University, Lucknow.
MUMBAI: The family that controls Apollo Hospitals Enterprise Ltd., India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt.
The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20% of their total holding in the company from about 78% now, said Suneeta Reddy,
Shares of Apollo Hospitals Enterprises surged 9 per cent to Rs 1,351 in intra-day trade on Monday, rallying 12 per cent in past two trading days on the BSE, after the company reported a more-than-doubled consolidated net profit at Rs 84.4 crore in March quarter (Q4FY19). The Chennai-based hospital chain had posted a profit of Rs 23.8 crore in the year-ago quarter.
Apollo Hospitals Enterprise' decision to divest its front-end pharmacy business to Apollo Pharmacy Ltd (APL) for cash consideration of Rs 5.27 bn will have 'neutral' impact on its credit rating, a rating agency has said.
Apollo Hospitals Enterprise Ltd (AHEL) had said last month that the move was part of a restructuring exercise.
Next to Suneeta Reddy’s desk in the executive suite of Apollo Hospitals Enterprise Ltd. hangs an icon of Hinduism’s many-armed warrior goddess Durga, who Reddy prays to each morning. The deity’s presence seems fitting at a company run by four women engineering an aggressive expansion into new territory.
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