Like the previous quarter, this was a normalized quarter. Witnessed a steady growth in occupancy, driven by improved patient footfalls from international and insurance segments. There were concerted efforts to unlock value through previously articulated growth levers.
Occupancy for the quarter improved to 78% from 74% in Q1 FY '23 and 75% in Q2 FY '22.
Institutional bed share has been brought down to 28% this quarter from 30% in Q1 FY '23 and 37% in Q2 FY '22. Consequently, the institutional revenue share dropped to 16% compared to 23% last year.
Revenue from international patients grew by 16% quarter-on-quarter and reflected 110% of pre-COVID average despite negligible patient footfall from Afghanistan, a key territory that contributed around 12% of the revenues previously.
Construction of 100 beds at Shalimar Bagh, and 300 beds at Dwarka is on track, and expect them to be commissioned in last quarter of FY '23 and first half of FY '24, respectively. Shalimar Bagh expenditure has been as per budget as per plan.
Mid-teens as far as the EBITDA margins for Nanavati are concerned. Hopefully, can go back to the rest of the portfolio as well.
Been investing heavily in Max Lab. There has been a mild investment towards marketing, but investment towards creating partners and partnerships with franchisees and so on and so forth. In the first quarter, the current year, added about 400-odd franchisees. Overall, this business has always been profitable. There's no reason for it not to be.
Max@Home does mid-teens sort of EBITDA margins. It's the largest home care business in the country and actually the only profitable one.
Even now 28% of the total beds are being consumed by institutional business, which is very low ARPOB business and the ARPOB basically is close to half of what the ARPOB of the business as usual is. 5 quarters later or 6 quarters later, this will be below 15%.
H2 is usually better than H1 historically for all hospital groups.
Generally, the ARPOB will drop in quarter 2 compared to quarter 1.
40% of all medical tourists come to Delhi NCR.
Disclaimer:- Nothing on this website should be construed as investment advice. Please consult your financial advisor before taking any decision. We are not SEBI registered RA/RIA. The author owns the stock in their portfolio at the date this post was published.
Thank you