Fortis Healthcare Ltd. (FHL) is India’s leading integrated healthcare delivery service provider. The healthcare verticals of FHL rimarily comprise hospitals, diagnostics and day care specialty facilities.
View & Valuvation
FHL is in a sweet spot to tap Indian healthcare‟s growth given its strong brand equity and leading position in the under-penetrated market. We expect revenue to grow at a CAGR of 13% over FY16-FY19E. Further, we estimate EBITDA to post a robust CAGR of 52% over FY16-19E on account of lower net BT costs. We initiate with a Buy rating with a target price of Rs220 based on SoTP valuation.
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