Narayana Hrudayalaya Ltd Share Price – NSE  /  BSE

Healthcare, Small Cap

Shares of the Bangalore-headquartered company surged 14.6% in seven trading sessions from its recent closing low of Rs 1,060.25 on 8 November 2023.

The stock hit an all-time high of Rs 1,230 today. The counter has soared 72.27% from its 52-week low of Rs 705.25 hit on 6 January 2023.

On the BSE, 33,566 shares were traded in the counter so far compared with average daily volumes of 29,080 shares in the past two weeks.

The scrip had outperformed the market in past one month, rising 13.02% as against 0.92% decrease in Sensex.

The scrip had outperformed the market in past one quarter, jumping 22.56% as against Sensex's 1.02% rise.

The counter had also outperformed the market in past one year, surging 61.87% as against Sensex's 6.59% jump.

On the technical front, the stock's daily RSI (relative strength index) stood at 77.437. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1,062.51, 1,039.05 and 920.01, respectively. These levels will act as crucial support zones in near term.

Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary, and primary healthcare facilities. The company has a network of 19 hospitals and 3 heart centers across India along with overseas presence at Cayman Islands, with over 5,820 operational beds and a capacity of over 6,090 beds.

The company reported 34.2% rise in consolidated net profit to Rs 226.58 crore on 14.3% increase in revenue from operations to Rs 1,305.25 crore in Q2 FY24 over Q2 FY23.

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India revenue stood at Rs 1,052.7 crore (up 14.7% YoY) and Cayman revenue (includes HCCI and EICL entities) was Rs 260.7 crore (up 12.7% YoY).

Consolidated EBITDA grew by 18.8% to Rs 326.5 crore in Q2 FY24 from Rs 274.9 crore in Q2 FY23. EBITDA margin improved to 25% in Q2 FY24 as against 24.1% in Q2 FY23.

As on 30 September 2023, the total borrowings less cash, bank balance and current investments was Rs 86.3 crore representing a net debt to equity ratio of 0.03. (out of which, borrowings worth $52 million is foreign currency denominated).

Dr. Emmanuel Rupert, managing director and group CEO, Narayana Hrudayalaya, commented: “The second quarter delivered strong performance after a steady first quarter of the fiscal year. We are pleased to report the highest ever revenue on a quarterly basis with profitability sustaining at high levels driven by higher patient volumes across our units.

HCCI continues to contribute significantly to the overall performance achieving the highest ever revenue and profitability on a quarterly basis, also supported by the new Radiation Oncology block which continues to see good traction.

The new entity NHIC has delivered strong growth this quarter led by significantly higher patient transactions and increased collections, remaining on track as per the plan. We have changed our company logo to align with our vision to offer integrated healthcare services to the mass market at the highest quality and a new motto to Take Care of all our patients.”

Narayana Hrudayalaya is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary, and primary healthcare facilities. The company has a network of 19 hospitals and 3 heart centers across India along with overseas presence at Cayman Islands, with over 5,820 operational beds and a capacity of over 6,090 beds.

The scrip hit a life-time high of Rs 1,182.85 in today’s intraday session on the BSE.

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Net profit of Narayana Hrudayalaya rose 34.25% to Rs 226.58 crore in the quarter ended September 2023 as against Rs 168.78 crore during the previous quarter ended September 2022. Sales rose 14.34% to Rs 1305.25 crore in the quarter ended September 2023 as against Rs 1141.58 crore during the previous quarter ended September 2022.

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Narayana Hrudayalaya will hold a meeting of the Board of Directors of the Company on 13 November 2023.

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