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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