Buy Metropolis Healthcare, target price Rs 1775: JM Financial

JM Financial has buy call on Metropolis Healthcare with a target price of Rs 1775. The current market price of Metropolis Healthcare is Rs 1315.35.

Metropolis Healthcare, incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 6731.32 Crore) operating in Hospitals & Allied Services sector.

Metropolis Healthcare key Products/Revenue Segments include Service Income and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 292.08 Crore, down -4.14 % from last quarter Total Income of Rs 304.68 Crore and down -1.21 % from last year same quarter Total Income of Rs 295.66 Crore. Company has reported net profit after tax of Rs 35.86 Crore in latest quarter.

The company’s top management includes Dr.Sushil Kanubhai Shah, Mrs.Ameera Sushil Shah, Mr.Hemant Sachdev, Mr.Vivek Gambhir, Mr.Sanjay Bhatnagar, Mr.Milind Shripad Sarwate, Ms.Anita Ramachandran. Company has BSR & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 5 Crore shares outstanding.

Investment Rationale
The management reiterated that the income tax search concluded with no unaccounted assets. The stock’s risk-reward continues to be favourable post the steep correction, overstated concerns and improving outlook.

Promoter/FII Holdings
Promoters held 49.76 per cent stake in the company as of 31-Dec-2022, while FIIs owned 23.86 per cent, DIIs 13.3 per cent.