We are enclosing herewith trasncript of earning conference call held on May12, 2025, wherein Audited standalone & Consolidated Financial result for the 2nd half year ended March 31, 2025 ....
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Asarfi Hospital reported strong FY25 results with revenue from operations growing 43% year-on-year to Rs.120.6 crore, driven by a 40% rise in IPD revenue to Rs.99.1 crore and 42% growth in OPD revenue to Rs.19.7 crore. EBITDA grew 47% to around Rs.22.35 crore with margins expanding to 20% (from 19%), while net profit surged 154% to Rs.10.6 crore, lifting PAT margin to 9%. The flagship 250-bed Super Speciality hospital in Dhanbad ran at ~61% occupancy, while the new 65-bed cancer hospital (Jharkhand's only dedicated cancer facility) became operational in Q1 FY25 and is currently at ~30% occupancy. Management shared its 'Vision 2027' targeting Rs.200 crore in revenue, 500 total beds, and EBITDA margins of 21-25%. A 100-bed hospital acquisition outside Dhanbad (in Bihar/Jharkhand/Eastern UP region) is in advanced stages with due diligence complete, contributing about Rs.20 crore to the Rs.200 crore target.
Strong revenue and profit growth, along with clear medium-term guidance to roughly 1.7x revenue by FY27, is positive for the stock. However, the growth path depends on working capital improvements — receivables have ballooned due to government scheme payments (Ayushman Bharat, state schemes), which is a near-term cash flow watchpoint. Expansion into cancer care and inorganic growth via the 100-bed acquisition offer long-term upside.