Friday, Apollo Hospitals shares finished at Rs 4,957.90, which was 2.89 percent higher than the day before. Apollo Hospitals shares are selling at 58.5 times core earnings estimate for FY24E and 24.4 times EV/Ebitda).
Apollo Hospitals Enterprises said on Friday that its annual general meeting (AGM) will now be held on August 30 instead of August 28, which was the original date. Apollo Hospitals said that the 42nd Annual General Meeting (AGM) will start at 10:15 a.m. via video chat or another audiovisual method.
In a filing to stock markets, the hospital chain said that the record date for paying the final dividend, August 19, will stay the same as before. The company told stock markets that the dividend will be paid on or after September 9.
The company’s board said that the last payout would be Rs 9, which is 180% of the face value of Rs 5 per share. The payment of the dividend will depend on what the owners say at the next AGM.
Apollo Hospitals also said, “Please note that the record date of August 19, 2023, for the payment of the final dividend and the Annual General Meeting and dividend payment date (i.e., on or after September 9, 2023) will stay the same.”
On Friday, the stock finished at Rs 4,957.90, which was 2.89 percent higher than where it started. Apollo Hospitals shares are selling at 58.5 times core earnings estimate for FY24E and 24.4 times EV/Ebitda).
“The growth potential is still good, but we think that the stock price won’t go up much more because of how much it’s worth. Our target price of Rs 5,001 is based on core profits of Rs 106 that are valued at 47 times FY25E (21.5 times EV/Ebitda), according to Elara Securities.
Apollo Hospitals announced this week that its combined net profit for the March quarter rose by 50% to Rs 146 crore, up from Rs 97 crore in the same quarter last year. Analysts, on the other hand, thought the performance was weak because the hospital section did not do well and the online pharmacy lost money.
Due to higher occupancy rates, a healthier payer mix, and a decrease in Apollo 24×7’s cash burn, margins are anticipated to increase in the near future. The company is still on track to add 2,000 beds by the end of fiscal year (FY) 27.
In FY24, there will be twice as many pharmacists and twice as much money going through online pharmacies. This week, ICICI Securities said, “Keep ADD and set a target price of Rs 5,000 per share.”