Apollo Hospitals Enterprise Ltd
Apollo Hospitals Enterprise Ltd
Healthcare Services F&OKey Fundamentals
LargecapHospitalsHealthcare ServicesInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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43 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 76.2% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 17.7%
Weaknesses
2- Stock is trading at 13.4 times its book value
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
Apollo Hospitals Enterprise Ltd is a large-cap healthcare services company with a market capitalization of ₹1,26,430 crore, trading at a PE of 56.9x and PB of 13.04x. The company has delivered strong profit growth of 76% CAGR over 5 years with TTM sales growth of 17% and ROE improving to 21% in the last year, though its valuation multiples remain elevated relative to book value.
- Exceptional profit growth of 76% CAGR over 5 years demonstrates strong operating leverage and margin expansion
- TTM sales growth of 17% and 5-year compounded sales CAGR of 19% indicate sustained revenue momentum
- ROE has improved from 13% (10-year average) to 21% in the last year, reflecting better capital efficiency
- 3-year compounded profit growth of 32% shows acceleration in earnings trajectory
- 10-year stock CAGR of 20% demonstrates long-term wealth creation track record
- Consistent dividend payout of 17.7% maintained alongside high reinvestment for growth
- 3-year ROE of 18% and 5-year ROE of 17% show structural improvement in profitability, not a one-off spike
- Large-cap status with ₹1,26,430 crore market cap provides institutional liquidity and index inclusion benefits
- PE ratio of 56.9x is significantly elevated, requiring sustained high growth to justify current valuation
- Trading at 13.04x book value leaves limited margin of safety if growth decelerates
- Potential capitalization of interest costs may overstate reported profits and asset values
- Dividend yield of only 0.23% offers negligible income return for shareholders at current price
- 1-year stock CAGR of 14% has lagged the 3-year CAGR of 22%, suggesting momentum moderation
- 5-year stock CAGR of only 13% versus 10-year CAGR of 20% indicates periods of significant underperformance relative to long-term trend
- TTM profit growth of 34% while strong is decelerating from the 5-year CAGR of 76%, indicating base effect normalization
- At 56.9x PE, even a minor earnings miss could trigger meaningful multiple compression given premium valuation
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Strong Q1 PAT up 34% Aug 12
Apollo Hospitals reported 34% rise in net profit to ₹5,805 crore and 21% revenue growth in Q1FY27. Healthcare services segment grew 22% while HealthCo digital cash losses narrowed significantly.
- 25% hospital margin target Aug 13
Management targeting 25% margin in hospital business segment, signaling confidence in operational efficiency improvements.
- Bed capacity expansion to 14,100 Aug 13
Company aims to grow total bed capacity to 14,100 by FY31, funded majorly through internal accruals rather than external borrowing.
- ₹20/share total FY26 dividend Aug 1
Board recommends ₹10 final dividend per share bringing total FY26 dividend to ₹20/share, aggregating ₹2,875.70 million. AGM scheduled August 25, 2026.
- ₹44 crore block trade on BSE Jul 22
Block trade of ~49,647 shares executed at ₹8,900 per share totaling ₹44.19 crore, likely between institutional participants.
- Q1 FY27 results call announced Jul 21
Conference call held August 13 at 3:00 PM IST with key management including Mrs. Suneeta Reddy and Mr. A. Krishnan to discuss Q1 FY27 results.
TL;DR: Apollo Hospitals delivered a strong Q1FY27 with 34% PAT growth and 21% revenue expansion, supported by robust healthcare services performance and narrowing digital losses. No material headwinds emerged in the review period. Management is guiding toward higher margins (25% hospital business target) and ambitious capacity expansion (14,100 beds by FY31) funded internally. The trend is clearly improving with earnings momentum and disciplined capital allocation reinforcing a bullish outlook.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,418 | 4,847 | 4,851 | 4,944 | 5,086 | 5,589 | 5,527 | 5,592 | 5,842 | 6,304 | 6,477 | 6,606 | 7,044 |
| Expenses | 3,909 | 4,219 | 4,237 | 4,303 | 4,410 | 4,774 | 4,765 | 4,822 | 4,990 | 5,362 | 5,512 | 5,594 | 5,951 |
| Operating Profit | 509 | 628 | 614 | 640 | 675 | 816 | 762 | 770 | 852 | 941 | 965 | 1,011 | 1,092 |
| OPM % | 12% | 13% | 13% | 13% | 13% | 15% | 14% | 14% | 15% | 15% | 15% | 15% | 16% |
| Other Income | 34 | 26 | 29 | 37 | 49 | 44 | 69 | 72 | 54 | 61 | 48 | 54 | 62 |
| Interest | 106 | 111 | 113 | 119 | 116 | 118 | 110 | 115 | 108 | 110 | 113 | 119 | 120 |
| Depreciation | 167 | 163 | 167 | 190 | 177 | 184 | 185 | 211 | 215 | 218 | 219 | 224 | 235 |
| PBT | 270 | 379 | 363 | 368 | 430 | 557 | 536 | 516 | 583 | 675 | 682 | 722 | 799 |
| Tax % | 36% | 34% | 30% | 30% | 27% | 29% | 29% | 20% | 24% | 27% | 24% | 24% | 24% |
| Net Profit | 173 | 249 | 254 | 258 | 316 | 396 | 379 | 414 | 441 | 494 | 516 | 551 | 610 |
| EPS in Rs | 11.59 | 16.2 | 17.06 | 17.65 | 21.23 | 26.34 | 25.89 | 27.1 | 30.1 | 33.19 | 34.93 | 36.81 | 40.39 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,129 | 6,150 | 7,256 | 8,243 | 9,617 | 11,247 | 10,560 | 14,663 | 16,612 | 19,059 | 21,794 | 25,228 | 26,430 |
| Expenses | 4,392 | 5,465 | 6,522 | 7,442 | 8,548 | 9,656 | 9,420 | 12,474 | 14,548 | 16,665 | 18,761 | 21,449 | 22,420 |
| Operating Profit | 737 | 684 | 734 | 801 | 1,070 | 1,591 | 1,140 | 2,189 | 2,065 | 2,394 | 3,033 | 3,779 | 4,010 |
| OPM % | 14% | 11% | 10% | 10% | 11% | 14% | 11% | 15% | 12% | 13% | 14% | 15% | 15% |
| Other Income | 47 | 92 | 60 | 24 | 26 | 222 | 103 | 368 | 75 | 123 | 222 | 207 | 226 |
| Interest | 118 | 180 | 257 | 295 | 327 | 533 | 449 | 379 | 381 | 449 | 458 | 450 | 462 |
| Depreciation | 212 | 264 | 314 | 359 | 396 | 620 | 573 | 601 | 615 | 687 | 758 | 876 | 896 |
| PBT | 455 | 332 | 222 | 171 | 373 | 660 | 221 | 1,578 | 1,144 | 1,380 | 2,039 | 2,661 | 2,877 |
| Tax % | 29% | 29% | 41% | 65% | 47% | 34% | 38% | 30% | 22% | 32% | 26% | 25% | — |
| Net Profit | 335 | 235 | 131 | 60 | 200 | 432 | 137 | 1,108 | 844 | 935 | 1,505 | 2,003 | 2,172 |
| EPS in Rs | 24.43 | 16.99 | 15.88 | 8.44 | 16.96 | 32.7 | 10.46 | 73.42 | 56.97 | 62.5 | 101 | 135 | 145 |
| Div. Payout % | 24% | 35% | 38% | 59% | 35% | 18% | 29% | 16% | 26% | 26% | 13% | 15% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 70 | 70 | 70 | 70 | 70 | 70 | 72 | 72 | 72 | 72 | 72 | 72 |
| Reserves | 3,102 | 3,262 | 3,244 | 3,182 | 3,264 | 3,270 | 4,531 | 5,551 | 6,126 | 6,864 | 8,140 | 9,408 |
| Borrowings | 1,992 | 2,834 | 3,125 | 3,427 | 3,673 | 3,596 | 4,160 | 4,068 | 4,332 | 5,333 | 7,864 | 8,493 |
| Other Liabilities | 1,296 | 1,195 | 1,665 | 1,917 | 2,159 | 4,354 | 2,629 | 3,570 | 3,886 | 4,474 | 4,568 | 4,210 |
| Total Liabilities | 6,459 | 7,360 | 8,103 | 8,596 | 9,166 | 11,289 | 11,392 | 13,261 | 14,416 | 16,742 | 20,644 | 22,183 |
| Fixed Assets | 3,244 | 3,997 | 4,591 | 4,773 | 4,982 | 7,432 | 6,778 | 8,296 | 8,520 | 9,664 | 10,988 | 12,272 |
| CWIP | 533 | 562 | 347 | 712 | 822 | 236 | 234 | 46 | 610 | 873 | 921 | 1,032 |
| Investments | 311 | 352 | 406 | 352 | 462 | 434 | 1,343 | 816 | 574 | 986 | 2,487 | 2,179 |
| Other Assets | 2,372 | 2,448 | 2,759 | 2,759 | 2,901 | 3,187 | 3,037 | 4,104 | 4,712 | 5,219 | 6,248 | 6,700 |
| Total Assets | 6,459 | 7,360 | 8,103 | 8,596 | 9,166 | 11,289 | 11,392 | 13,261 | 14,416 | 16,742 | 20,644 | 22,183 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 470 | 597 | 623 | 537 | 905 | 1,293 | 1,265 | 1,696 | 1,377 | 1,920 | 2,136 | 2,856 |
| Investing | -759 | -888 | -1,152 | -405 | -711 | -289 | -880 | -747 | -857 | -1,537 | -3,383 | -2,145 |
| Financing | 392 | 330 | 477 | -108 | -215 | -910 | -340 | -792 | -633 | -311 | 1,319 | -478 |
| Net Cash Flow | 103 | 39 | -52 | 24 | -20 | 94 | 44 | 158 | -113 | 72 | 73 | 233 |
| Free Cash Flow | -396 | -393 | -46 | -84 | 233 | 782 | 984 | 1,044 | 252 | 785 | 439 | 925 |
| CFO/OP | 77 | 108 | 103 | 83 | 103 | 100 | 108 | 87 | 85 | 100 | 86 | 92 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 36 | 38 | 37 | 39 | 33 | 46 | 44 | 49 | 48 | 51 | 50 |
| Inventory Days | 50 | 49 | 47 | 51 | 46 | 49 | 16 | 21 | 17 | 17 | 16 | 15 |
| Days Payable | 59 | 66 | 51 | 55 | 56 | 60 | 74 | 79 | 82 | 88 | 72 | 63 |
| Cash Conversion Cycle | 34 | 19 | 34 | 33 | 29 | 22 | -12 | -14 | -16 | -23 | -6 | 3 |
| Working Capital Days | 24 | 16 | 27 | 8 | -3 | -8 | -4 | 5 | -1 | -19 | -6 | -25 |
| ROCE % | 12% | 9% | 8% | 7% | 10% | 14% | 8% | 17% | 14% | 15% | 17% | 17% |
Documents
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Company Information
Apollo Hospitals was established in 1983 by Dr. Prathap C Reddy, renowned architect of modern healthcare in India. As the nation’s first corporate hospital, Apollo Hospitals is acclaimed for pioneering the private healthcare revolution in the country. Apollo Hospitals has emerged as Asia’s foremost integrated healthcare services provider and has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies, Primary Care & Diagnostic Clinics and several Retail Health models. [1]