Apollo Hospitals reschedules AGM to August 30; dividend record date stays unchanged
Apollo Hospitals shares closed at Rs 4,957.90 on Friday, up 2.89 per cent. Shares of Apollo Hospitals are trading at 58.5 times FY24E core earnings estimate and 24.4 times EV/Ebitda).
- Jun 2, 2023,
- Updated Jun 2, 2023 4:20 PM IST
Apollo Hospitals Enterprises on Friday said it has rescheduled its annual general meeting (AGM) to August 30 from August 28 earlier. Apollo Hospitals said the 42th AGM will commence from 10.15 am through video conference or other audio visual means.
In a filing to stock exchanges, the hospital chain said the record date, August 19, for the purpose of payment of final dividend will stay unchanged as intimated earlier. The dividend will be paid on or from September 9, the company told stock exchanges.
The company's board had announced a final dividend of Rs 9 (180 per cent on the face value of Rs 5 per share) for FY23. The dividend payment is subject to approval of the shareholders at the ensuing AGM.
"Please also note that the record date fixed on 19th August 2023 as intimated earlier for the purpose of payment of final dividend and Annual General Meeting and dividend payment date (i.e., on or from 9th September 2023) will remain unchanged," Apollo Hospitals said.
On Friday, the stock closed at Rs 4,957.90, up 2.89 per cent. Shares of Apollo Hospitals are trading at 58.5 times FY24E core earnings estimate and 24.4 times EV/Ebitda).
"While the growth outlook remains strong, the high valuation limits upside to the stock price, in our view. Our target of Rs 5,001 is based on 47 times FY25E core earnings of Rs 106 (21.5 times FY25E EV/Ebitda)," Elara Securities said.
Apollo Hospitals this week reported a 50 per cent surge in consolidated net profit at Rs 146 crore for the March quarter compared with a profit of Rs 97 crore in the same quarter last year. Analysts, however, felt the performance was muted due to tepid performance at hospital segment and losses at online pharmacy.
"Margins are expected to improve in the near term owing to better occupancies, improvement in payer mix and reduction in cash burn in Apollo 24x7. Company remains on track to add 2,000 beds by FY27, 500 offline
pharmacies and double the GMV of online pharmacy in FY24. Maintain ADD with a target price of Rs 5,000/share," ICICI Securities said this week.
Also read: Adani Transmission, Adani Total resume fall, slip up to 4% today; here's what tech charts hint
Apollo Hospitals Enterprises on Friday said it has rescheduled its annual general meeting (AGM) to August 30 from August 28 earlier. Apollo Hospitals said the 42th AGM will commence from 10.15 am through video conference or other audio visual means.
In a filing to stock exchanges, the hospital chain said the record date, August 19, for the purpose of payment of final dividend will stay unchanged as intimated earlier. The dividend will be paid on or from September 9, the company told stock exchanges.
The company's board had announced a final dividend of Rs 9 (180 per cent on the face value of Rs 5 per share) for FY23. The dividend payment is subject to approval of the shareholders at the ensuing AGM.
"Please also note that the record date fixed on 19th August 2023 as intimated earlier for the purpose of payment of final dividend and Annual General Meeting and dividend payment date (i.e., on or from 9th September 2023) will remain unchanged," Apollo Hospitals said.
On Friday, the stock closed at Rs 4,957.90, up 2.89 per cent. Shares of Apollo Hospitals are trading at 58.5 times FY24E core earnings estimate and 24.4 times EV/Ebitda).
"While the growth outlook remains strong, the high valuation limits upside to the stock price, in our view. Our target of Rs 5,001 is based on 47 times FY25E core earnings of Rs 106 (21.5 times FY25E EV/Ebitda)," Elara Securities said.
Apollo Hospitals this week reported a 50 per cent surge in consolidated net profit at Rs 146 crore for the March quarter compared with a profit of Rs 97 crore in the same quarter last year. Analysts, however, felt the performance was muted due to tepid performance at hospital segment and losses at online pharmacy.
"Margins are expected to improve in the near term owing to better occupancies, improvement in payer mix and reduction in cash burn in Apollo 24x7. Company remains on track to add 2,000 beds by FY27, 500 offline
pharmacies and double the GMV of online pharmacy in FY24. Maintain ADD with a target price of Rs 5,000/share," ICICI Securities said this week.
Also read: Adani Transmission, Adani Total resume fall, slip up to 4% today; here's what tech charts hint