Healthcare stock with operations across hospitals, clinics, retail pharmacies, and many more declined by 7 percent in the day’s trade following the block deal and reports of a likely stake sale of the company’s shares by Olympus Capital Asia Investments.
With a market capitalization of Rs. 20,245 Crores, the shares of Aster DM Healthcare Limited were trading at Rs. 405.30, down 7.18 percent from its previous day’s close price of Rs. 436.55.
The shares of Aster DM Healthcare Limited slipped by 7 percent in the day’s trade following the reports of a block deal that took place in the day’s trade, where 5.1 crore equity shares representing a 10.1 percent stake of the company changed hands.
As per sources private equity firm Olympus Capital Asia Investments Limites was likely looking to sell nearly 10 percent of its stake in Aster DM Healthcare through a block deal for a consideration of ~$235 Million. As of Q3FY24, it holds an 18.96 percent stake in the company consisting of 9.47 Crore equity shares.
Aster DM Healthcare is a healthcare services provider with operations across hospitals, clinics, retail pharmacies, and many more. It has a presence across 15 cities and 5 states with 19 Hospitals consisting of 4,857 bed capacity with a 68 percent occupancy rate.
As per the Segment-wise revenue mix of 9MFY24, Multispecialty generates 19 percent of the revenue, Cardiac Sciences 13 percent, Neuro Sciences 11 percent, Gastroenterology and Integrated Liver Care 9 percent, Oncology 9 percent, Nephrology And Urology 7 percent, Orthopaedics 7 percent, Womens Health 6 percent, Child and Adolescent Health 6 percent and others 13 percent.
Its revenue from operations grew by 16.25 percent from Rs. 3,192 Crores in Q3FY23 to Rs. 3,711 Crores in Q3FY24, accompanied by profits of Rs. 159 Crores to Rs. 209 Crores.
It has reported a return on equity (ROE) of 11 percent and a return on capital employed (ROCE) of 9.21 percent it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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