Any current/future new fundraising through debt or equity?

The current debt outstanding is around INR 705 crores. The company plans to raise some debt to fund its expansion projects. For the Mumbai Malad facility, there is some delay in finalizing the funding plan. If no deal is finalized by the end of February 2024, KIMS will fund the project themselves starting April 2024. The management remains confident about securing a partner deal for the Mumbai project within 10-15 days. No explicit mention of raising equity capital was made during the call. Overall, near-term fundraising plans mainly focus on raising debt to support capacity expansion and new

Any current/future capex/capital investment/strategic investment?

Nashik project: 300 beds with a total capex of INR 250 crores including land and building (Page 19). Thane project: Planned capex INR 250 crores but this excludes land and building costs, which will add more to the total project cost (Page 19). Bangalore: Two hospitals planned; one with 415 beds expected operational by Q4 FY25. Work ongoing on the second hospital with an O&M contract pending (Page 13). Secunderabad: Demolition of two blocks to add a new tower with additional beds; refurbishing Sunshine Hospital with 100 dedicated rehab beds (Page 18). Plan to operationalize additional beds (12

Future growth expectations in sales/revenue/volumes?

Consolidated revenue for nine months ended Dec 2023 grew 14% YoY to INR1,874 crores. Growth driven by addition of new specialties (e.g., oncology, mother and child) in Andhra and Telangana. Expansion plans underway with new facilities in Bangalore, Nashik, Thane, Nagpur targeting 400+ beds by FY25. Expected rise in Average Revenue Per Occupied Bed (ARPOB) by 5-7% over 2-3 years via pricing and case mix improvement. Volume growth seen in inpatient (3.6% YoY) and outpatient (2.7% YoY) in Q3 FY24, with temporary Q3 dip due to festivals, elections, and cyclone effects. New specialty launches expec

Future growth expectations in earnings/operating earnings/profits/EPS?

KIMS Hospitals expects growth driven by expansion into new markets like Bangalore, Thane, Nashik, and Nagpur, with careful market analysis and talent sourcing before entry. EBITDA margins are targeted to improve as new hospitals stabilize; Nagpur unit aims for 20-25% EBITDA margin, with similar success expected for Nasik. The Sunshine Hospital is expected to reach an EBITDA margin of 30% in the near term. ARPOB (average revenue per occupying bed) is expected to grow by 5-7% from price increases and mix improvements, especially with oncology and mother and child specialties expanding in A

Krishna Institu.Q3 FY24Healthcare Services

Krishna Institu. Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹736P/E: 157.1Market Cap: ₹32.8K CrSector: Healthcare Services

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

Consolidated revenue for nine months ended Dec 2023 grew 14% YoY to INR1,874 crores.
Growth driven by addition of new specialties (e.g., oncology, mother and child) in Andhra and Telangana.
Expansion plans underway with new facilities in Bangalore, Nashik, Thane, Nagpur targeting 400+ beds by FY25.
Expected rise in Average Revenue Per Occupied Bed (ARPOB) by 5-7% over 2-3 years via pricing and case mix improvement.
Volume growth seen in inpatient (3.6% YoY) and outpatient (2.7% YoY) in Q3 FY24, with temporary Q3 dip due to festivals, elections, and cyclone effects.
New specialty launches expected to drive revenue growth but with some initial cost.
Expansion of bed capacity in existing clusters to meet demand (e.g., 125 beds to become operational in Telangana, 250+ in Andhra in next 2 quarters).
Greenfield projects like Nashik expected to breakeven within a year, indicating quick volume ramp-up potential.

Margin guidance

Category 3

KIMS Hospitals expects growth driven by expansion into new markets like Bangalore, Thane, Nashik, and Nagpur, with careful market analysis and talent sourcing before entry.
EBITDA margins are targeted to improve as new hospitals stabilize; Nagpur unit aims for 20-25% EBITDA margin, with similar success expected for Nasik.
The Sunshine Hospital is expected to reach an EBITDA margin of 30% in the near term.
ARPOB (average revenue per occupying bed) is expected to grow by 5-7% from price increases and mix improvements, especially with oncology and mother and child specialties expanding in Andhra Pradesh.
Bed capacity and operational beds will be increased (150 new beds planned), enhancing revenue potential.
EBITDA breakeven for new greenfield projects like Nashik can be achieved in less than one year.
Doctor-related costs have increased due to specialty additions but should normalize as revenues improve and operational leverage plays out.
Overall, the company expects steady improvements in revenue, EBITDA, and profits with expansion and specialization.

See what Krishna Institu. management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The current debt outstanding is around INR 705 crores.
The company plans to raise some debt to fund its expansion projects.
For the Mumbai Malad facility, there is some delay in finalizing the funding plan. If no deal is finalized by the end of February 2024, KIMS will fund the project themselves starting April 2024.
The management remains confident about securing a partner deal for the Mumbai project within 10-15 days.
No explicit mention of raising equity capital was made during the call.
Overall, near-term fundraising plans mainly focus on raising debt to support capacity expansion and new hospital projects in locations like Nashik, Thane, Bangalore, and Mumbai.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for KIMS Hospital. However, from the discussion, some related operational expansions and projects are highlighted: - KIMS is actively expanding bed capacity, operationalizing around 150 new beds in next two quarters. - Bed capacity additions planned in Nasik (around 280-300 beds) with INR 250 crores capex; operationalization expected by FY25. - Bangalore project targeting around 415 beds to be commissioned by Q4 FY25. - Thane project capex estimated at INR 250 crores (excluding some land/building costs). - Malad facility work ongoing; funding arrangement expected by mid-February with potential self-funding from April if deal delays. - Strong focus on greenfield projects in various cities after detailed planning including Bangalore, Thane, Nashik, Nagpur. - Recruitment and onboarding of doctors ongoing for newer facilities, expected to finalize contracts by end of Q4. No direct mention of a quantified order book or pending orders was provided.

See what Krishna Institu. management said on order book — free account, 30 seconds.

Capex plans

Yes

Nashik project: 300 beds with a total capex of INR 250 crores including land and building (Page 19).
Thane project: Planned capex INR 250 crores but this excludes land and building costs, which will add more to the total project cost (Page 19).
Bangalore: Two hospitals planned; one with 415 beds expected operational by Q4 FY25. Work ongoing on the second hospital with an O&M contract pending (Page 13).
Secunderabad: Demolition of two blocks to add a new tower with additional beds; refurbishing Sunshine Hospital with 100 dedicated rehab beds (Page 18).
Plan to operationalize additional beds (125 in Telangana cluster and 250-260 in Andhra cluster) within the next two quarters (Page 20).
Expansion focus on new geographies including Bangalore, Thane, Nashik, Nagpur with detailed groundwork and talent assessment before entry (Page 21).

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Krishna Institu. Q3 FY24 Earnings Call Analysis

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