Buy Global Health, target price Rs 550: JM Financial

JM Financial has buy call on Global Health with a target price of Rs 550.The current market price of Global Health is Rs 398.15.

Global Health, incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 11970.43 Crore) operating in General sector.

Global Health key Products/Revenue Segments include Hospital Services, Pharmaceuticals and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended , the company has reported a Standalone Total Income of Rs Crore, unchanged .00 % from last quarter Total Income of Rs Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs Crore in latest quarter.

The company’s top management includes Dr.Naresh Trehan, Mr.Sunil Sachdeva, Mr.Ravi Kant Jaipuria, Mr.Venkatesh Ratnasami, Ms.Praveen Mahajan, Mr.Vikram Singh Mehta, Mr.Hari Shanker Bhartia, Mr.Rajan Bharti Mittal, Mr.Ravi Gupta. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 27 Crore shares outstanding.

Investment Rationale
The brokerage believes there could be more upside driven by price increases, reversion of international patient footfalls to FY19 levels and inorganic expansion (Cash on books INR 5bn). JM Financial initiates BUY valuing the company at 19x FY25 EV/EBITDA to arrive at a Mar’24 price target of Rs 550.

Promoter/FII Holdings
Promoters held 33.08 per cent stake in the company as of 31-Dec-2022, while FIIs owned 9.36 per cent, DIIs 12.55 per cent.