Update
“Subsidiary Company acquired 60% stake in Skin III Ltd”
Aster DM Healthcare Limited (Indian Conglomerate Health Care Provider) has informed the exchange that its step-down material subsidiary “Medcare Hospital LLC” has acquired 60 per cent stake in Skin III Limited (a private company incorporated in Dubai)
Skin III Limited is a leader in offering IV Drips (Vitamin and Detox) and other Aesthetics Procedures (HydraFacial, laser hair Removal etc.)
Skin III Ltd has tie ups with leading 5 Star Hotels for IV (Anantara and Jumeirah Group etc.) and Homecare Business and is a relatively high margin non-insurance business with significant growth potential, the company said in its latest BSE filing.
Share of Aster DM Healthcare closed at INR 240.50 (DOWN 3%) with a volume of 6,42,063 shares on the National Stock Exchange (NSE) when the market closed.
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08 February 2018
Aster DM Healthcare – one of the largest private healthcare service providers in the MENA and Asia Pacific region – is planning to raise INR 980.14 Cr (725 Cr of Fresh Issue + 255.14 Cr of OFS) via initial public offer (IPO)
Aster DM Healthcare – Company Profile
- Incorporated in the year 1987, Aster DM Healthcare Limited is Kochi, Kerala based Healthcare Service Provider with operations in GCC states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates), India and the Philippines.
- Company’s Indian operations are headquartered in Kochi, Kerala.
Working Area
- In 1987, Aster DM Healthcare started off as a single clinic under the leadership of Dr. Azad Moopen.
- Currently, Aster DM Healthcare operates in multiple segments of the healthcare industry including clinics, hospitals, and retail pharmacies.
- The Company operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.
- The Company provides healthcare services to patients across economic segments under brand names including Aster, Medcare, and Access.
Aster DM Healthcare – Networks
- Headquartered in Dubai, the Aster DM network currently encompasses 19,593 employees, 2296 doctors with several JCI accredited Hospitals, clinics and Diagnostic Centres.
- Aster’s hospitals in India are located in Bengaluru, Guntur, Hyderabad, Kochi, Kolhapur, Kozhikode, Kottakkal, Vijayawada, and Wayanad and are generally operated under the Aster, MIMS, Ramesh and Prime brands.
Company Promoters
- Azad Moopen
- Union Investments Private Limited
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
Financial Performance
Revenues
Aster DM Healthcare shows steady revenue growth in recent years. Top-line has been increasing regularly for the last 3 years and jumped from INR 3,899 Cr in FY 2015 to INR 5967.90 Cr for the period ended FY 2017.
Profits
Though the company has shown steady growth in revenue, the company fails to register growth in profits in these 3 years. Starting from INR 272.11 Cr of profits in FY 2015, the company’s earnings stood at INR 266.75 Cr for the period ended FY 2017.
CONCLUSION –
Considering company’s valuation, financial parameters, and the sector potential in which it is operating, FinBlab recommends NEUTRAL ratings on Aster DM Healthcare IPO.
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