News

Published: Feb 22, 2023
Updated: Feb 22, 2023

Medanta Stock Soars by 13% in 2 Days, Hits Record High Since Listing

Shares of Medanta, a leading healthcare provider in India, surged 13% over the past two days, hitting a new record high of Rs 518.55 on the Bombay Stock Exchange. This impressive performance was achieved despite a subdued market, with the S&P BSE Sensex down 0.21%. Medanta's current stock price is trading 54% higher than its issue price of Rs 336 per share.

Introduction to Medanta and Its Recent Developments

Founded by renowned cardiovascular and cardiothoracic surgeon Dr Naresh Trehan, Medanta operates five hospitals in five cities in the northern and eastern regions of India. With over 1,400 doctors and 2,571 installed beds, Medanta provides healthcare services in over 30 medical specialties. Recently, Medanta announced that it is entering into a binding term sheet with Elinquisite Real Estate Private Limited to launch a new 300-bed hospital in Indore. The hospital will offer critical care beds, operation theatres, cath labs, and day care services for chemotherapy and radiation, and is expected to commence operations in FY2027.

Medanta's Q3FY23 Financial Performance

For the quarter ended December 2022, Medanta reported its highest-ever quarterly total income of Rs 706.2 crore, reflecting a 19% YoY growth. For the first nine months of the fiscal year 2022-23, Medanta's consolidated total income grew by 21.2% YoY to Rs 2,027 crore, driven by higher inpatient volumes, an increase in bed occupied days, and a change in specialty and payor mix. Medanta's EBITDA was Rs 485.6 crore, up 22.1% YoY, with strong EBITDA margins of 24.0%. Profit after tax increased by 26% YoY to Rs 225 crore, while average beds occupied grew by 8.5% YoY to Rs 58,494 in 9MFY23, driven by an increased share of complex specialties. The number of in-patients increased by 31.9%, and out-patients increased by 12.3%.

Impressive financials drive surge in stock prices

Medanta's impressive financial performance and expansion plans have contributed to the recent surge in its stock price. As the healthcare industry in India continues to grow, Medanta's strong position and reputation as a leading healthcare provider position it for continued success in the future.