Artemis Medicare Surges to Near Record High After 1000% Rise in 4.5 Years; A Multibagger

Artemis Medicare Services has been a standout performer in the Indian stock market, classified as a multibagger stock due to its impressive gains. Over the past four and a half years, the hospital stock has skyrocketed from about ₹22.60 to approximately ₹250 per share, marking a staggering 1000% increase. Even with this growth, there is still room for more upside potential.

Today, the stock opened at ₹249 per share, rising to an intraday high of ₹259.90, which is about a 5% increase from Thursday’s closing price of ₹246.75. During this rise, the stock came close to its all-time high of ₹270 per share. This surge in buying activity followed the announcement of their Q1 2024 financial results on Thursday.

Artemis Medicare Services Q1 FY25 Results

Artemis Medicare Services Ltd. released its financial results for the first quarter of FY25 on Thursday. The company, which operates 713 beds mainly in the Delhi NCR area, includes a 541-bed quaternary care super-specialty hospital that holds JCI and NABH accreditations. It also has five hospitals under the Artemis Lite and Daffodils brands and seven centers under the Artemis Cardiac Care brand in partnership with Philips. Additionally, Artemis has a presence in Mauritius through an operations and management agreement.

Key Highlights of Q1 2024 Results

1. Net Revenue from Operations increased by 6.5%, reaching INR 2,232 million, up from INR 2,095 million.
2. EBITDA grew by 39%, climbing to INR 406 million from INR 292 million.
3. EBITDA margin rose to 18.2%, compared to 13.9% at the consolidated level.
4. Consolidated Profit Before Tax (PBT) increased by 65.1% to INR 216 million from INR 131 million, with a margin of 9.7%.
5. Consolidated Profit After Tax (PAT) jumped by 69.5% to INR 165 million from INR 98 million, with a margin of 7.4%.

Devlina Chakravarty, the Managing Director of Artemis Medicare Services, commented on the Q1 2024 results, stating, “Our strong performance in Q1 FY25 is a result of our focused efforts to streamline financial and operational metrics.

This quarter marks one of our best performances ever, with our highest-ever Average Revenue Per Occupied Bed (ARPOB) and EBITDA, providing a strong start to the year despite it being a typically slower season. We have concentrated on enhancing cost efficiencies and maximizing asset utilization, which is evident in our highest EBITDA margins.”