The shares of one of South India’s largest corporate healthcare groups surged 6.5%, reaching an intraday high of ₹2,187.45 per share, after the company board to consider the 5:1 stock split in the upcoming board meeting.
At 11:15 a.m., Krishna Institute of Medical Sciences Ltd. shares were trading at ₹2,112.60 per share, up 2.83% from the previous close price on the National Stock Exchange and the company has a market capitalization of ₹16,964 crores.
What news: According to the company’s exchange filing, the board of directors to consider the subdivision/splitting of one equity share with a face value of ₹10 into five equity shares with a face value of ₹2 each during their upcoming board meeting on June 28. Consequently, shareholders will receive 5 additional shares for each share held.
About the Company: Krishna Medical Institution Ltd (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh, Maharashtra, and Telangana in terms of patients treated and treatments offered.
The company offers multidisciplinary healthcare services with primary, secondary, and tertiary care across 2-3 tier cities and an additional quaternary healthcare facility in tier-1 cities.
Stock Returns: Krishna Institute of Medical Sciences Ltd. shares have gained 6 percent in the last six months and 21 percent in a year.
Financials: The company’s revenue experienced a modest annual growth of 10%, rising from ₹576 crore in Q4FY23 to ₹634 crore in Q4FY24. However, net profit decreased by 28% during the same period, dropping from ₹99 crore to ₹71 crore.
In FY24, the company’s revenue distribution by segment was as follows: Orthopaedics contributed 14%, Neurosciences 11%, Cardiac Science 18%, Renal Science 9%, and Other segments 22%.
Geographically, the revenue distribution was 66% from Telangana, 7% from Maharashtra, and 27% from Andhra Pradesh.
Shareholding pattern: As of the March 2024 quarter, the company promoter owns a 38.82% stake in the company, while foreign institutional investors (FII) hold 16.73%, and domestic institutional investors (DII) hold 33.13%.
Written by Omkar Chitnis
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