KIMS Ltd. – Regional Leader in the Hospital Space
Founded by Dr. B. Bhaskara Rao and headquartered in Hyderabad, KIMS Hospitals is one of the largest corporate healthcare groups in AP and Telangana, providing multidisciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost.
The Krishna Institute of Medical Sciences (KIMS) is the largest corporate healthcare group in Andhra Pradesh and Telangana with a network of 12 hospitals and over 3600 beds spread across Telangana (Secunderabad, Kondapur, Gachibowli, Paradise Circle, and Karimnagar) and Andhra Pradesh (Nellore, Rajahmundry, Srikakulam, Ongole, Vizag, Anantapur, and Kurnool).
The Group offers a comprehensive bouquet of healthcare services across specialties and super specialties across more than 25 specialties.
Valuation:
KIMS will continue to benefit from its regional market leadership, strong cash flow generation, and sustained focus on operational efficiency and capacity expansion. We believe KIMS is an attractive play in the booming healthcare services market due to its (a) planned Capex, (b) industry-leading occupancy, (c) growth in revenue and margins, and (d) reasonable valuations. At CMP, the stock trades at 21x of FY24E EPS. We recommend a BUY rating in the stock with the target price (TP) of Rs.1375, 25x FY24E EPS.
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