Buy Jupiter Life Line Hospitals; target of Rs 1310: Prabhudas Lilladher

About this update from Jupiter Life Line Hospitals Ltd.

Prabhudas Lilladher's research report on Jupiter Life Line HospitalsJLHL is a key multispecialty tertiary and quaternary healthcare services in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds. JLHL’s operational efficiency has been strong in competitive markets of MMR. The company reported Revenue/EBITDA CAGR of 24%/35% over FY20-23. Given expansion plans, scale up in occupancy and improving margins, business is expected to aid growth momentum over the medium term in our view. We believe strategic greenfield expansions in densely populated micro-markets of western regions augur well to drive sustainable growth. Overall we see 22%/52% EBITDA/PAT CAGR over FY23- 26E with healthy return ratios of ~20%. We value JLHL at 22x EV/EBITDA on FY26E EBITDA. Initiate ‘BUY’.OutlookWe initiate coverage on Jupiter Life Line Hospitals (JLHL) with ‘Buy’ rating and TP of Rs1,310/share, 19% upside from current levels.For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Jupiter Life Line Hospitals - 14 - 12 - 2023 - prabhu

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