External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Narayana Hrudayalaya Ltd / Equity Bottom-Up

<ul><li>NHL operates a chain of multispecialty, tertiary &amp; primary healthcare facilities that initially focused on cardiac &amp; renal</li><li>NHL network comprises 22 hospitals (including two managed hospitals), five heart centres, 19 primary care facilities (including clinics and information centres) and a multi-speciality hospital in Cayman Islands)</li><li>We value Narayana at SOTP of Rs 650 by valuing matured India &amp; Cayman hospitals at 16x FY23E EV/EBITDA, new hospitals at 2x and other business at 1x FY23E EV/sales.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

NHL operates a chain of multispecialty, tertiary &amp; primary healthcare facilities that initially focused on cardiac &amp; renalNHL network comprises 22 hospitals (including two managed hospitals), five heart centres, 19 primary care facilities (including clinics and information centres) and a multi-speciality hospital in Cayman Islands)We value Narayana at SOTP of Rs 650 by valuing matured India &amp; Cayman hospitals at 16x FY23E EV/EBITDA, new hospitals at 2x and other business at 1x FY23E EV/sales.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Narayana Hrudayalaya: Rebound in Elective Surgeries Picking Up