Polar Capital Funds Plc, on Wednesday, offloaded shares of hospital chain ‘Krishna Institute of Medical Sciences Ltd’ (KIMS) worth about Rs 144 crores through an open market transaction. According to the filing with the NSE, Polar Capital Funds Plc sold 11,05,934 shares which is equivalent to around 1.38 percent stake in the company. The shares were disposed at an average price of Rs 1,300.03 apiece.
The company’s stock was trading flat today as it opened its trading hour at Rs 1,320.30 and closed at a price of Rs 1,323.95. Keeping a purview of one year, the stock has underperformed and gave negative returns of around 2 percent to its stakeholders.
KIMS Hospitals is in the list of leading multi-super specialty hospitals in Hyderabad involved in the service of providing healthcare services for Cardiology, Neurology, Neurosurgery, Oncology, Heart, Liver & Kidney Transplants. It is the largest independent hospital providing prompt, safe, quality care for our patients. It is equipped with state-of-the-art facilities and innovative technology which aids the company to support a wide range of specialist services mainly designed with our patients in mind.
Having a quick walkthrough of the financials, the basic and most important parameters have fallen on a QoQ basis. Revenues moved from Rs 564 crores in Q2 to Rs 562 crores in Q3. Moreover, the net profit figures saw a shift from Rs 106 crores in Q2 to Rs 82 crores in Q3.
Something to a surprise is the pattern represented by the profitability ratios of the company. The ROE figures have moved from 28.12 percent in FY 20-21 to 29.7 percent in FY 21-22. Apart from it, the ROCE figures of the company moved from 30.82 percent in FY20-21 to 34.98 percent in FY 21-22.
The debt-to-equity ratio has seen a consistent decline in numbers with the recent shift being 0.31 in FY20-21 to 0.12 in FY21-22.
According to the quarter ending December 2022, promoters hold a constant 38.84 percent stake in the company. FIIs have shown a trajectory of consistent increase in stake with a recent movement from 10.17 percent in Q2 to 20.5 percent in Q3.
Written by Amit Madnani
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