Aster DM Healthcare Ltd - Stock Valuation and Financial Performance

BSE: 540975 | NSE: ASTERDM | Hospital & Healthcare Services | Small Cap

Aster DM Healthcare Share Price

407.30 2.45 0.61%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Aster DM Healthcare

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Aster DM Healthcare stock performance -

mw4me loader
P/E Ratio (CD):
63.06
Market Cap:
20,437.6 Cr.
52-wk low:
237
52-wk high:
495.2

Is Aster DM Healthcare Ltd an attractive stock to invest in?

1. Is Aster DM Healthcare Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Aster DM Healthcare Ltd is a below average quality company.

2. Is Aster DM Healthcare Ltd undervalued or overvalued?

The key valuation ratios of Aster DM Healthcare Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Aster DM Healthcare Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Aster DM Healthcare Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Aster DM Healthcare:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Aster DM Healthcare Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%5.9%2.3%1.6%6.7%8%8.6%6.1%11.6%10.1%-
Value Creation
Index
NA-0.5-0.8-0.9-0.5-0.4-0.4-0.6-0.1-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 03,8765,2505,9316,7217,9638,6528,60810,25311,93313,505
Sales YoY Gr.-NA35.5%13%13.3%18.5%8.7%-0.5%19.1%16.4%-
Adj EPS 03.4-1.5-4.74.16.65.93.210.58.46.5
YoY Gr.-NA-142.3%NANA60.1%-11.5%-45.1%228%-19.9%-
BVPS (₹) 038.210.446.556.163.665.967.979.189.191.9
Adj Net
Profit
0133-58.5-190209334291159526422324
Cash Flow from Ops. 02362033615376011,2231,5691,3141,834-
Debt/CF from Ops. 04.616.47.64.44.62.41.51.71.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA12.2%11.3%16.4%
Adj EPS NA15.4%13%-19.9%
BVPSNA9.7%10.6%12.5%
Share Price - 21.4% 45.2% 69.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
09-6.2-16.58.91194.814.4107.2
Op. Profit
Mgn %
013.48.85.99.411.214.9131513.613.6
Net Profit
Mgn %
070.2-3.33.34.63.82.25.942.4
Debt to
Equity
00.77.91.50.80.90.90.70.60.5-
Working Cap
Days
0014716515815417016813713969
Cash Conv.
Cycle
0052565460492815101

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 11.31%

Net Profit is growing at healthy rate in last 3 years 13.00%

Debt to equity has declined versus last 3 years average to 0.51

Sales growth is good in last 4 quarters at 18.60%

Return on Equity has declined versus last 3 years average to 7.20%

Latest Financials - Aster DM Healthcare Ltd.

Standalone Consolidated
TTM EPS (₹) 4.3 6.5
TTM Sales (₹ Cr.) 1,920 13,505
BVPS (₹.) 66 91.9
Reserves (₹ Cr.) 2,799 4,091
P/BV 6.20 4.45
PE 94.21 63.06
From the Market
52 Week Low / High (₹) 237.00 / 495.15
All Time Low / High (₹) 78.50 / 495.15
Market Cap (₹ Cr.) 20,438
Equity (₹ Cr.) 499.5
Face Value (₹) 10
Industry PE 83.6

Management X-Ray of Aster DM Healthcare:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *10.4410.4410.4410.4410.4410.4498.8798.8798.8798.87
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Aster DM Healthcare

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales3,8765,2505,9316,7217,9638,6528,60810,25311,933
Operating Expenses 3,3584,7895,5826,0897,0747,3637,5068,72010,307
Manufacturing Costs3855527328499821,1621,3521,5961,755
Material Costs1,2221,6231,8872,0592,4202,5392,5492,8923,532
Employee Cost 1,1541,6292,0552,2712,6882,9042,7553,2643,965
Other Costs 5989859089109847588509681,055
Operating Profit 5184613496328891,2891,1031,5331,626
Operating Profit Margin (%) 13.4%8.8%5.9%9.4%11.2%14.9%12.8%15.0%13.6%
Other Income 232537453538505178
Interest 91205371204205391334307390
Depreciation 144243322298306586618641780
Exceptional Items 00416130-2-20000
Profit Before Tax 30638108308410330205637535
Tax 342911264315273660
Profit After Tax 272898282367315178601475
PAT Margin (%) 7.0%0.2%1.6%4.2%4.6%3.6%2.1%5.9%4.0%
Adjusted EPS (₹)3.4-1.52.55.36.65.63.010.58.5
Dividend Payout Ratio (%)0%-3%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,4844201,8752,8323,2143,2723,3723,9534,448
Share Capital 389403403505505497497500500
Reserves 1,096171,4722,3272,7092,7752,8753,4543,949
Minority Interest762177375358466446462529412
Debt9013,1622,7212,2122,6082,4791,9141,7571,813
Long Term Debt6122,5771,8911,5781,9661,8921,7551,4661,312
Short Term Debt289584830635642587159291500
Trade Payables4326977828461,0142,1102,0272,1182,988
Others Liabilities 8301,2881,0501,2311,6274,0973,8444,1645,175
Total Liabilities 4,4095,7436,8047,4798,92812,40511,62012,52114,836

Fixed Assets

Gross Block2,6503,1754,4845,0005,9019,4369,4309,99212,704
Accumulated Depreciation4146679641,2621,6122,3132,6812,9833,652
Net Fixed Assets2,2372,5073,5203,7384,2897,1246,7497,0099,052
CWIP 197358290402550736934998279
Investments 145032382234634580
Inventories3114115266277329618491,0261,306
Trade Receivables8841,3421,2881,5462,0292,3662,0192,0212,336
Cash Equivalents 304267152300341177281380429
Others Assets4618089978289651,0077251,0441,354
Total Assets 4,4095,7436,8047,4798,92812,40511,62012,52114,836

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2362033615376011,2231,5691,3141,834
PBT 30638-307176412330205637535
Adjustment 4428798715906651,1361,1791,1361,270
Changes in Working Capital -490-681-159-176-422-177196-40288
Tax Paid -22-34-44-52-54-66-11-57-59
Cash Flow From Investing Activity -448-786-1,153-523-709-667-330-570-972
Capex -411-745-926-520-537-430-386-544-839
Net Investments -30-48-6823-17-953-14-118
Others -78-158-25-154-2283-12-15
Cash Flow From Financing Activity 20357865446134-675-1,116-686-817
Net Proceeds from Shares 9479868121100
Net Proceeds from Borrowing 00000163-365-299-244
Interest Paid -80-89-174-177-175-200-163-122-149
Dividend Paid -17-49-10-300-10-9-20-27
Others 205637831-428307-629-579-244-397
Net Cash Flow -10-5-1386126-1191235845
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)18.330.868.511.9712.159.75.3516.4111.32
ROCE (%)15.427.6911.4510.431111.779.0315.9614.36
Asset Turnover Ratio0.881.030.950.940.970.810.720.850.87
PAT to CFO Conversion(x)0.8725.383.681.91.643.888.812.193.86
Working Capital Days
Receivable Days837781778293937267
Inventory Days292529313136383336
Payable Days129127143144140225296262264

Aster DM Healthcare Ltd Stock News

Aster DM Healthcare Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Aster DM Healthcare on 28-Mar-2024 16:01 is ₹407.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Aster DM Healthcare stood at ₹20,437.6.
The latest P/E ratio of Aster DM Healthcare as of 28-Mar-2024 16:01 is 94.21.
The latest P/B ratio of Aster DM Healthcare as of 28-Mar-2024 16:01 is 6.20.
The 52-week high of Aster DM Healthcare is ₹495.1 and the 52-week low is ₹237.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Aster DM Healthcare is ₹1,920 ( Cr.) .

About Aster DM Healthcare Ltd

The company was incorporated on January 18, 2008 as ‘DM Healthcare Private Limited’ at Kochi, Ernakulam, Kerala as a private limited company under the Companies Act, 1956. The name of company was changed to ‘Aster DM Healthcare Private Limited’ and a fresh certificate of incorporation consequent upon change of name was issued on November 29, 2013. Subsequently, the company was converted into a public company pursuant to special resolution passed by shareholders on November 10, 2014 and the name of the company was changed to ‘Aster DM Healthcare Limited’ a Fresh Certificate of Incorporation consequent upon conversion to public limited Company dated on January 1, 2015.

The company is one of the largest private healthcare service providers which operate in multiple GCC states based on numbers of hospitals and clinics. It currently operate in all of the GCC states, which comprise the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, in Jordan, in India and the Philippines. Its GCC operations are headquartered in Dubai, United Arab Emirates and Indian operations are headquartered in Kochi, Kerala. The company has a diversified portfolio of healthcare facilities, consisting of 9 hospitals, 90 clinics and 206 retail pharmacies in the GCC states, 10 multi-specialty hospitals and 7 clinics in India, and 1 clinic in the Philippines as of September 30, 2017.

Business area of the company

The company operates in multiple segments of the healthcare industry, including hospitals, clinics and retail pharmacies and provide healthcare services to patients across economic segments in several GCC states through its various brands “Aster”, “Medcare” and “Access”. A majority of its hospitals and clinics provide secondary and tertiary healthcare services to patients. In addition to providing core medical, surgical and emergency services, some of its hospitals provide complex and advanced quaternary healthcare in various specialties, including cardiology, oncology, radiology, ophthalmology, neurosciences, paediatrics, gastroenterology, orthopaedics and critical care services.

Awards and achievements

  • 2001: MIMS Hospital, Kozhikode, India received the first place (certificate of merit) from the Kerala State Pollution Control Board for making a substantial and sustained effort in pollution control. MIMS subsequently received this certificate of merit in 2007, 2008, 2009, 2010, 2011, 2012 and 2013 for various hospitals.
  • 2006: MIMS Hospital, Kozhikode, India received NABH accreditation valid upto October 29, 2009 which was subsequently renewed up to October 29, 2018.
  • 2012: MIMS Laboratory Services, MIMS received ISO 15189:2007 certification in the field of Medical Testing valid up to October 8, 2016, which was subsequently renewed as ISO 15189:2012 up to October 8, 2018.
  • 2013: Medcare Hospital LLC, Dubai, UAE received JCI accreditation valid up to December 21, 2016, which was subsequently renewed up to November 10, 2019.
  • 2014: Aster Pharmacy Group received the Best Service Performance Brand Award by Dubai Service Excellence Scheme.
  • 2015: Aster Medcity, Kochi, India received NABH accreditation for compliance with the Certification Standards for Nursing Excellence valid up to March 30, 2017 which was subsequently renewed up to March 30, 2019.
  • 2015: Aster Medcity, Kochi, India received the ISO 22000:2005 certification for production and service of food for patients, staff and patients’ relatives within the hospital from Bureau Veritas Certification Holding SAS – UK Branch, valid up to July 16, 2018.
  • 2015: The company received the ‘National Awards for Excellence in Healthcare Award for Best Marketing Campaign – Healthcare Industry’ by CMO Asia.
  • 2016: The company received the ‘Institutional Bravery Award’ for Distinguished Service in Flood Relief in Chennai and Cuddalore, 2015 by the Society for Emergency Medicine India.
  • 2016: Aster Pharmacies Group received the Dubai Quality Appreciation Award for 2016 from the Government of Dubai.
  • 2016: Aster Pharmacy received the Best Service Performance Brand Award by Dubai Service Excellence Scheme.
  • 2017: Aster CMI hospital received the ‘Best Hospitality in Healthcare’ award from the Times Network.
  • 2017: Aster CMI hospital has been ranked as the 23rd best multi specialty hospital (national rankings), 7th best multi specialty hospital (South India) and 2nd best multi specialty hospital in Bangalore in the All India Multispecialty Hospital Ranking Survey 2017 by the Times Group.
  • 2017: Aster CMI hospital has been ranked 11th in gastroenterology and hepatology (South India) and 3rd in gastroenterology and hepatology in Bangalore in the All India Critical Care Hospital Ranking Survey 2017 by the Times Group.
  • 2017: Aster CMI hospital has received the ‘CMO Asia Presents Asia Healthcare Excellence Award’ in the ‘best hospitality in healthcare’ category.
  • 2018: Aster DM Healthcare wins Special Recognition at Arabia CSR Awards 2018.
  • 2018: Aster Pharmacy & Aster Hospital win Dubai Business Excellence Awards.
  • 2019: Aster DM Healthcare wins four Dubai Business Excellence Awards.
  • 2019: Aster Volunteers CSR Award PR.
  • 2019: Aster DM Healthcare bags Gulf Business Awards-2017 for the 'Healthcare Company of the Year' Category.
  • 2020: Aster MIMS Kottakkal conferred Six Sigma Healthcare Excellence Award.
  • 2020: Aster DM Healthcare wins 6 awards at AHPI Awards 2020

Major Events

  • 1987: The company’s Promoter, Dr. Azad Moopen started a clinic in Dubai.
  • 1995: First specialty medical centre was launched in Dubai.
  • 2001: MIMS Kozhikode Hospital commenced operations.
  • 2005: Al Rafa Hospital for Maternity and Surgery (now called Aster Day Surgery Centre LLC) commenced operations.
  • 2006: Medcare Hospital, commenced operations.
  • 2008: The company acquired majority stake in PHL, Kolhapur.
  • 2009: Al Raffah Hospital, first hospital in Oman, commenced operations in Muscat.
  • 2010: The company acquired 100% of the paid up equity share capital of Affinity, Mauritius.
  • 2010: Al Raffah Hospital, second hospital in Oman, commenced operations in Sohar. 
  • 2011: Second Medcare Hospital, namely Medcare Orthopedics and Spine Hospital (Dubai) commenced operations.
  • 2013: The company acquired 60.35% of the paid up equity share capital of IHPL and consequently MIMS became its Subsidiary.
  • 2014: The company acquired hospital operational and management rights in Aster CMC, Bangalore pursuant to the hospital operation and management agreement dated May 12, 2014.
  • 2014: The company acquired 54% stake in Aster Kuwait and 51% stake in Orange Pharmacies LLC, Jordan.
  • 2015: First clinic in the Kingdom of Bahrain commenced operations; first clinic in the Philippines commenced operations.
  • 2016: The company divested its stake in Medipoint Hospitals Private Limited, Pune.
  • 2016: The company acquired 51% stake in Dr Ramesh Hospital.
  • 2016: Second clinic in Bahrain commences operations.
  • 2016: Medcare Women and Child Hospital in Dubai was launched.
  • 2017: Entered into an operation and management agreement with the Rashtreeya Sikshana Samithi Trust to operate and manage a hospital in Bengaluru.
  • 2017: Medare Hospital Sharjah and Aster Hospital Doha commenced operations.
  • 2018: Aster DM Healthcare partners with Nigerian University Hospital to provide advanced healthcare solutions.
  • 2018: Aster Pharmacy launches its First Eco-Friendly Pharmacy in UAE.
  • 2018: Sharjah Health Authority signs MoU with Aster DM Healthcare to expand healthcare coverage for residents.
  • 2019: Aster DM Healthcare hikes shareholding in Prerana Hospital to 86.99%.
  • 2019: Aster DM Healthcare hikes stake in Sri Sainatha Multispeciality Hospital.
  • 2020: Aster DM Healthcare collaborates with Social Alpha.
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