Aster DM Healthcare Ltd - Stock Valuation and Financial Performance

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

Aster DM Healthcare Share Price

400.05 -5.50 -1.36%
as on 08-Oct'24 09:08

DeciZen - make an informed investing decision on Aster DM Healthcare

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Aster DM Healthcare stock performance -

mw4me loader
P/E Ratio (CD):
3.84
Market Cap:
20,257.8 Cr.
52-wk low:
309.1
52-wk high:
558.3

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 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 Semi Strong which suggest that the price of Aster DM Healthcare Ltd is likely to Rise-somewhat 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 performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 15.4%7.7%11.5%10.4%11%11.8%9%16%4.5%5.8%-
Value Creation
Index
0.4-0.30.0-0.2-0.2-0.1-0.30.2-0.7-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,8765,2505,9316,7217,9638,6528,60810,2532,9943,6999,003
Sales YoY Gr.-35.5%13%13.3%18.5%8.7%-0.5%19.1%-70.8%23.5%-
Adj EPS 3.4-1.5-4.74.16.65.93.210.52.22.5105.5
YoY Gr.--142.3%NANA60.1%-11.5%-45.1%228%-79.3%12.4%-
BVPS (₹) 38.210.446.556.163.665.967.979.181.483.685.3
Adj Net
Profit
133-58.5-1902093342911595261091225,269
Cash Flow from Ops. 2362033615376011,2231,5691,3141,834158-
Debt/CF from Ops. 4.616.47.64.44.62.41.51.71.312.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.5%-14.2%-24.5%23.5%
Adj EPS -3.7%-18%-8.6%12.4%
BVPS9.1%5.6%7.2%2.7%
Share Price - 28% 23.4% 22.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
9-6.2-16.58.91194.814.42.62.7124.9
Op. Profit
Mgn %
13.48.85.99.411.214.9131515.315.914
Net Profit
Mgn %
70.2-3.33.34.63.82.25.95.35.558.5
Debt to
Equity
0.77.91.50.80.90.90.70.60.50.4-
Working Cap
Days
014716515815417016813755450448
Cash Conv.
Cycle
05256546049281536-9-8

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 124.90%

Sales growth is good in last 4 quarters at 18.44%

Sales growth has been subdued in last 3 years -24.54%

Net Profit has been subdued in last 3 years -8.61%

Latest Financials - Aster DM Healthcare Ltd.

Standalone Consolidated
TTM EPS (₹) 122.4 105.5
TTM Sales (₹ Cr.) 2,145 9,003
BVPS (₹.) 177.5 85.3
Reserves (₹ Cr.) 8,367 3,761
P/BV 2.28 4.75
PE 3.31 3.84
From the Market
52 Week Low / High (₹) 309.05 / 558.30
All Time Low / High (₹) 78.50 / 558.30
Market Cap (₹ Cr.) 20,258
Equity (₹ Cr.) 499.5
Face Value (₹) 10
Industry PE 39.2

Management X-Ray of Aster DM Healthcare:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *10.4410.4410.4410.4498.8798.8798.8798.8798.8798.87
* 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'23Mar'24
Sales3,8765,2505,9316,7217,9638,6528,60810,2532,9943,699
Operating Expenses 3,3584,7895,5826,0897,0747,3637,5068,7202,5363,112
Manufacturing Costs3855527328499821,1621,3521,5969921,193
Material Costs1,2221,6231,8872,0592,4202,5392,5492,892779916
Employee Cost 1,1541,6292,0552,2712,6882,9042,7553,264542676
Other Costs 598985908910984758850968223327
Operating Profit 5184613496328891,2891,1031,533458587
Operating Profit Margin (%) 13.4%8.8%5.9%9.4%11.2%14.9%12.8%15.0%15.3%15.9%
Other Income 23253745353850513725
Interest 9120537120420539133430796119
Depreciation 144243322298306586618641192220
Exceptional Items 00416130-2-200000
Profit Before Tax 30638108308410330205637195261
Tax 34291126431527363657
Profit After Tax 272898282367315178601160205
PAT Margin (%) 7.0%0.2%1.6%4.2%4.6%3.6%2.1%5.9%5.3%5.5%
Adjusted EPS (₹)3.4-1.52.55.36.65.63.010.58.52.6
Dividend Payout Ratio (%)0%-3%0%0%0%0%0%0%0%77%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1,4844201,8752,8323,2143,2723,3723,9534,4424,552
Share Capital 389403403505505497497500874874
Reserves 1,096171,4722,3272,7092,7752,8753,4543,5683,678
Minority Interest762177375358466446462529412470
Debt9013,1622,7212,2122,6082,4791,9141,7571,8131,790
Long Term Debt6122,5771,8911,5781,9661,8921,7551,4661,312446
Short Term Debt2895848306356425871592915001,343
Trade Payables4326977828461,0142,1102,0272,1182,9883,436
Others Liabilities 8301,2881,0501,2311,6274,0973,8444,1645,1817,735
Total Liabilities 4,4095,7436,8047,4798,92812,40511,62012,52114,83617,983

Fixed Assets

Gross Block2,6503,1754,4845,0005,9019,4369,4309,99212,7044,903
Accumulated Depreciation4146679641,2621,6122,3132,6812,9833,6521,728
Net Fixed Assets2,2372,5073,5203,7384,2897,1246,7497,0099,0523,175
CWIP 197358290402550736934998279170
Investments 14503238223463458017
Inventories3114115266277329618491,0261,3061,632
Trade Receivables8841,3421,2881,5462,0292,3662,0192,0212,3362,440
Cash Equivalents 3042671523003411772813804292,550
Others Assets4618089978289651,0077251,0441,3547,998
Total Assets 4,4095,7436,8047,4798,92812,40511,62012,52114,83617,983

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 2362033615376011,2231,5691,3141,834158
PBT 30638-307176412330205637535330
Adjustment 4428798715906651,1361,1791,1361,2701,570
Changes in Working Capital -490-681-159-176-422-177196-40288-1671
Tax Paid -22-34-44-52-54-66-11-57-59-71
Cash Flow From Investing Activity -448-786-1,153-523-709-667-330-570-972-885
Capex -411-745-926-520-537-430-386-544-839-759
Net Investments -30-48-6823-17-953-14-118-127
Others -78-158-25-154-2283-12-152
Cash Flow From Financing Activity 20357865446134-675-1,116-686-8171,053
Net Proceeds from Shares 94798681211000
Net Proceeds from Borrowing 00000163-365-299-2441,519
Interest Paid -80-89-174-177-175-200-163-122-149-210
Dividend Paid -17-49-10-300-10-9-20-27-22
Others 205637831-428307-629-579-244-397-234
Net Cash Flow -10-5-1386126-1191235845326
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)18.330.868.511.9712.159.75.3516.413.984.97
ROCE (%)15.427.6911.4510.431111.779.0315.964.525.76
Asset Turnover Ratio0.881.030.950.940.970.810.720.850.220.23
PAT to CFO Conversion(x)0.8725.383.681.91.643.888.812.1911.460.77
Working Capital Days
Receivable Days8377817782939372266236
Inventory Days2925293131363833142145
Payable Days1291271431441402252962621,1961,280

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 08-Oct-2024 09:08 is ₹400.1.
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 08-Oct-2024 09:08 the market cap of Aster DM Healthcare stood at ₹20,257.8.
The latest P/E ratio of Aster DM Healthcare as of 08-Oct-2024 09:08 is 3.31.
The latest P/B ratio of Aster DM Healthcare as of 08-Oct-2024 09:08 is 2.28.
The 52-week high of Aster DM Healthcare is ₹558.3 and the 52-week low is ₹309.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Aster DM Healthcare is ₹2,145 ( 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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