Update on Business of Metropolis Healthcare By Keshav Lahoti, Angel Broking

Below are Update on Business of Metropolis Healthcare By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
Metropolis Healthcare has achieved ~23% Year-on-Year growth in Revenue in Q3FY21. The Company has achieved positive growth on a Year-on-Year basis in Q3FY21 for Non-Covid business in comparison to 85% in Q2FY21 and 50% in Q1FY21. On-account of continuous efforts towards cost optimization and strong revenue uptick, EBITDA margins in Q3FY21 have enhanced in comparison to Q3FY20 EBITDA margin of 28.2%. The no. of tests for Q3FY21 stood at approximately 5.12mn compared to 4.78mn in Q3FY20. The Company continues to be a Net Cash Company with Cash and Cash equivalents of over Rs. 365 Crore at the end of December 31, 2020. We continue to have a buy rating on the Company given expected long term growth rates of ~15% CAGR, stable margins profile and moderating competitive intensity.
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