Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Supreme Court's warning to enforce CGHS rates on private hospitals sparks market concerns, leading to a significant correction in hospital company stock prices.</li>
<li>Failure to standardize hospital pricing raises questions about patient affordability, quality of healthcare, and financial viability of private hospitals, impacting investors and healthcare consumers alike.</li>
<li>Explore the complexities of healthcare regulation, implications for hospital companies, and potential investment opportunities amid the evolving landscape of standardized medical treatment costs.</li>
</ul>


Supreme Court's warning to enforce CGHS rates on private hospitals sparks market concerns, leading to a significant correction in hospital company stock prices.
Failure to standardize hospital pricing raises questions about patient affordability, quality of healthcare, and financial viability of private hospitals, impacting investors and healthcare consumers alike.
Explore the complexities of healthcare regulation, implications for hospital companies, and potential investment opportunities amid the evolving landscape of standardized medical treatment costs.


SC on Standardisation Rate for Medical Procedures: Likely Impact on Listed Hospital Players

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

Jupiter Life Line Hospitals / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jupiter-life-line-hospitals-ltd" target="_blank" data-smartkarma-citation="entities:39814:1" rel="noopener">Jupiter Life Line Hospitals (0372574D IN)</a> has hit the market to raise INR8.7B via an IPO. The IPO is a combination of a fresh issue and an OFS portion.</li>
<li>The company is a multi-specialty tertiary and quaternary healthcare provider in the Mumbai Metropolitan Area and western region of India. It intends to use the IPO proceeds for debt repayment.</li>
<li>In FY23, revenue increased 22% YoY to INR8.9B, while EBITDA margin expanded 210bps to 23.45%. Ramping up of Indore facility and upcoming greenfield hospital in Maharashtra are major growth drivers.</li>
</ul>



Jupiter Life Line Hospitals (0372574D IN) has hit the market to raise INR8.7B via an IPO. The IPO is a combination of a fresh issue and an OFS portion.
The company is a multi-specialty tertiary and quaternary healthcare provider in the Mumbai Metropolitan Area and western region of India. It intends to use the IPO proceeds for debt repayment.
In FY23, revenue increased 22% YoY to INR8.9B, while EBITDA margin expanded 210bps to 23.45%. Ramping up of Indore facility and upcoming greenfield hospital in Maharashtra are major growth drivers.


Jupiter Life Line Hospitals (0372574D IN) IPO: A Niche Regional Play with Strong Track Record

Equity Bottom-Up

Rainbow Children's Medicare / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rainbow-children-s-medicare-limited" target="_blank" data-smartkarma-citation="entities:35874:1" rel="noopener">Rainbow Children's Hospital (RAINBOW IN)</a> recorded 21% YoY revenue growth in Q1FY24 to INR2.9B, driven by increase in pediatric surgical cases and deliveries, and addition of new bed capacities.</li>
<li>Lower occupancies in new hospitals and higher expenses impacted profitability. In Q1FY24, EBITDA margin declined 407 bps YoY to 30.5%, while net profit margin contracted 190 bps YoY to 14.4%.</li>
<li>The company will add 270 beds in the current financial year. By FY27, RCML aims to increase its bed capacity by 56% to 2,585 from current bed capacity of 1,655.  </li>
</ul>



Rainbow Children's Hospital (RAINBOW IN) recorded 21% YoY revenue growth in Q1FY24 to INR2.9B, driven by increase in pediatric surgical cases and deliveries, and addition of new bed capacities.
Lower occupancies in new hospitals and higher expenses impacted profitability. In Q1FY24, EBITDA margin declined 407 bps YoY to 30.5%, while net profit margin contracted 190 bps YoY to 14.4%.
The company will add 270 beds in the current financial year. By FY27, RCML aims to increase its bed capacity by 56% to 2,585 from current bed capacity of 1,655.  


Rainbow Children's Hospital (RAINBOW IN): Started FY24 On Strong Note; Capacity Expansions Underway

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (MEDANTA IN)</a> raised around US$268m in its India IPO. The stock was listed on 16th Nov 2022, its six-month lockup will expire on 11th May 2023.</li>
<li>Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



Global Health (Medanta) (MEDANTA IN) raised around US$268m in its India IPO. The stock was listed on 16th Nov 2022, its six-month lockup will expire on 11th May 2023.
Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Global Health (Medanta) Lockup - Good Name but Seems Fairly Valued

Max Healthcare Institute / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/max-healthcare-institute-ltd" target="_blank" data-smartkarma-citation="entities:35275:1" rel="noopener">Max Healthcare Institute (MAXHEALT IN)</a> reported improved occupancies, revenues, EBITDA and other operating and financial parameters in Q3FY23 versus year-ago period.   </li>
<li>The company recorded highest-ever EBITDA – both in terms of absolute value and margins, EBITDA per bed, ARPOB, and ROCE for the third consecutive quarter in FY23.</li>
<li>During the last three-year, Max had revenue and EBITDA CAGR of 12% and 59%, respectively. Consensus expects the company to report double-digit revenue and EPS growth through FY25.</li>
</ul>



Max Healthcare Institute (MAXHEALT IN) reported improved occupancies, revenues, EBITDA and other operating and financial parameters in Q3FY23 versus year-ago period.   
The company recorded highest-ever EBITDA – both in terms of absolute value and margins, EBITDA per bed, ARPOB, and ROCE for the third consecutive quarter in FY23.
During the last three-year, Max had revenue and EBITDA CAGR of 12% and 59%, respectively. Consensus expects the company to report double-digit revenue and EPS growth through FY25.


Max Healthcare (MAXHEALTH IN): Improving Operating Parameters; Well-Positioned for Long-Term Growth

India

Krishna Institute of Medical Sciences Limited provides hospital services. The Hospital offers medical and surgical, renal and cardiac sciences, oncology, orthopaedics, organ transplantation, neurosciences, and other health care services. Krishna Institute of Medical Sciences serves patients in India.

Krishna Institute of Medical Sciences (KIMS IN)

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Krishna Institute of Medical Sciences (KIMS IN)

SC on Standardisation Rate for Medical Procedures: Likely Impact on Listed Hospital Players

Supreme Court's push for CGHS rates on private hospitals triggers stock market turmoil, highlighting issues of pricing, patient affordability, and...

Nimish Maheshwari

Jupiter Life Line Hospitals (0372574D IN) IPO: A Niche Regional Play with Strong Track Record

Jupiter Life Line Hospitals has hit the market to raise INR8.7B via an IPO. The IPO is a combination of a fresh issue and an OFS. The company...

Tina Banerjee

Rainbow Children's Hospital (RAINBOW IN): Started FY24 On Strong Note; Capacity Expansions Underway

Rainbow recorded an impressive 21% YoY revenue growth to INR2.9B in Q1FY24, driven by increase in pediatric surgical cases and deliveries. The...

Tina Banerjee

Global Health (Medanta) Lockup - Good Name but Seems Fairly Valued

Global Health (Medanta) (MEDANTA IN) raised around US$268m in its India IPO. In this note, we will talk about the lock-up dynamics and updates...

Ethan Aw

Max Healthcare (MAXHEALTH IN): Improving Operating Parameters; Well-Positioned for Long-Term Growth

Max Health is poised for double-digit revenue growth, driven by improving occupancy, patient footfall, ARPOB, and bed expansion. Due to its metro...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SC on Standardisation Rate for Medical Procedures: Likely Impact on Listed Hospital Players

​Supreme Court's push for CGHS rates on private hospitals triggers stock market turmoil, highlighting issues of pricing, patient affordability, and...

Nimish Maheshwari

Jupiter Life Line Hospitals (0372574D IN) IPO: A Niche Regional Play with Strong Track Record

Jupiter Life Line Hospitals has hit the market to raise INR8.7B via an IPO. The IPO is a combination of a fresh issue and an OFS. The company...

Tina Banerjee

Rainbow Children's Hospital (RAINBOW IN): Started FY24 On Strong Note; Capacity Expansions Underway

Rainbow recorded an impressive 21% YoY revenue growth to INR2.9B in Q1FY24, driven by increase in pediatric surgical cases and deliveries. The...

Tina Banerjee

Global Health (Medanta) Lockup - Good Name but Seems Fairly Valued

Global Health (Medanta) (MEDANTA IN) raised around US$268m in its India IPO. In this note, we will talk about the lock-up dynamics and updates...

Ethan Aw

Max Healthcare (MAXHEALTH IN): Improving Operating Parameters; Well-Positioned for Long-Term Growth

Max Health is poised for double-digit revenue growth, driven by improving occupancy, patient footfall, ARPOB, and bed expansion. Due to its metro...

Tina Banerjee

Supreme Court's push for CGHS rates on private hospitals triggers stock market turmoil, highlighting issues of pricing, patient affordability, and...