GPT Healthcare Ltd

GPT Healthcare will hold a meeting of the Board of Directors of the Company on 21 May 2024

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Revenue from operations increased 3.88% YoY to Rs 96.59 crore in the quarter ended 31 December 2023.

Profit before tax rose 6.75% to Rs 15.98 crore in Q3 FY24 as compared with Rs 14.97 crore posted in Q3 FY23.

EBITDA stood at Rs 22.2 crore in the quarter ended 31 December 2023, registering the growth of 4.6% as compared with Rs 21.2 crore posted in corresponding quarter last year. EBITDA margin expanded by 20 bps to 23% in Q3 FY24 as against 22.8% in Q3 FY23.

Meanwhile, the company’s board has declared second interim dividend of Rs 1 each on the face value of the equity shares of Rs 10 each for the financial year 2023-2024. The record date for the same has been fixed at Tuesday, 2 April 2024. The company will pay the interim dividend to the shareholders on or before 17 April 2024.

GPT Healthcare, chairman, Dwarika Prasad Tantia, said, “The existing four hospitals in Salt Lake, Agartala, Dum Dum and Howrah, continue to perform well and are improving on all financial and operational metrics with increasing occupancy and moderated ARPOB at Rs 32,507 which is in line with our policy of serving the aspiring population of the society with higher disposable income in the middle to high income segment. The payer mix continues to be mostly cash and insurance leading to one of the highest cashflow from operations to EBITDA for the industry as well as both ROE and ROCE being in excess of 25% each.

Our long-term vision at GPT Healthcare is deeply rooted in our commitment to bringing advanced medical care to under-served markets in cities across eastern India. We aim to establish a chain of 150 to 200-bedded hospitals in these burgeoning markets, thereby fulfilling the pressing need for modern healthcare facilities in these area

Our upcoming hospital in Raipur is on track and is expected to be commissioned in Q4 FY 25 and the radiation oncology to be commissioned in Agartala hospital in the next quarter.

Shares of GPT healthcare listed on the bourses on 29 February 2024. It was listed at Rs 216.15, a premium of 16.21% compared to the initial public offer (IPO) price of Rs 186.

GPT Healthcare Limited, the healthcare arm of the GPT Group, currently owns and operates over 561 beds spread across four state-of-the-art multi-specialty hospitals in the eastern part of the country under the brand name ILS Hospitals. Founded in 2000 in Salt Lake, Kolkata, ILS Hospitals has since expanded its footprint and capabilities.

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Net profit of GPT Healthcare rose 37.37% to Rs 11.47 crore in the quarter ended December 2023 as against Rs 8.35 crore during the previous quarter ended December 2022. Sales rose 3.87% to Rs 96.59 crore in the quarter ended December 2023 as against Rs 92.99 crore during the previous quarter ended December 2022.

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GPT Healthcare has fixed 01 April 2024 as record date for interim dividend of Re 1 per share for FY 2024. The dividend will be paid on or before 17 April 2024.

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GPT Healthcare announced that the Board of Directors of the Company at its meeting held on 19 March 2024, inter alia, have recommended the second interim dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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GPT Healthcare will hold a meeting of the Board of Directors of the Company on 19 March 2024.

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The scrip was listed at Rs 216.15, exhibiting a premium of 16.21% to the issue price.

So far, the stock has hit a high of 219.70and a low of 200.20. On the BSE, over 7.02 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of GPT Healthcare was subscribed 8.52 times. The issue opened for bidding on 22 February 2024 and it closed on 26 February 2024. The price band of the IPO was fixed at Rs 177 to 186 per share.

The offer comprised of fresh issue of equity shares aggregating up to Rs 40 crore and offer for sale of 26,082,786 equity shares aggregating up to Rs 485.14 crore.

The promoters and and promoter group held 67.34% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 65.57%.

The objectives for the fresh issue includes Rs 30 crore for repayment/prepayment of certain borrowings and the remaining amount is to be used for general corporate purposes.

GPT Healthcare operates a chain of mid-sized full-service hospitals under the same brand and provides integrated healthcare services, with a focus on secondary and tertiary care. As of 30 September 2023, the company operated four multispecialty hospitals in Dum Dum, salt Lake and Howrah in West Bengal and Agartala in Tripura with a total capacity of 561 beds.

The company offers comprehensive range of healthcare services across over 35 specialties and superspecialties including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general suregery, gynaecology and obstetrics, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, neurosurgery, paediatrics and neonatology.

The firm reported a net profit of Rs 23.49 crore and sales of Rs 204.18 crore for the six months ended on 30 September 2023.

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The equity shares of GPT Healthcare (Scrip Code: 544131) are listed effective 29 February 2024 and admitted to dealings on the Exchange in the list of ''B'' Group Securities.

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The initial public offer (IPO) of GPT Healthcare received 16,84,72,240 bids for shares as against 1,97,63,327 shares on offer. The issue was subscribed 8.52 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 17.30 times. The Non Institutional Investors (NIIs) category was subscribed 11.02 times. The Retail Individual Investors (RIIs) category was subscribed 2.44 times.

The issue opened for bidding on 22 February 2024 and it closed on 26 February 2024. The price band of the IPO was fixed at Rs 177 to 186 per share.

The offer comprised of fresh issue of equity shares aggregating up to Rs 40 crore and offer for sale of 26,082,786 equity shares aggregating up to Rs 485.14 crore.

The promoters and and promoter group held 67.34% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 65.57%.

The objectives for the fresh issue includes Rs 30 crore for repayment/prepayment of certain borrowings and the remaining amount is to be used for general corporate purposes.

Ahead of the IPO, GPT Healthcare on 21 February 2024 raised Rs 157.54 crore from anchor investors. The board allotted 84.69 lakh shares at Rs 186 each to 15 anchor investors.

GPT Healthcare operates a chain of mid-sized full-service hospitals under the same brand and provides integrated healthcare services, with a focus on secondary and tertiary care. As of 30 September 2023, the company operated four multispecialty hospitals in Dum Dum, salt Lake and Howrah in West Bengal and Agartala in Tripura with a total capacity of 561 beds.

The company offers comprehensive range of healthcare services across over 35 specialties and superspecialties including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general suregery, gynaecology and obstetrics, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, neurosurgery, paediatrics and neonatology.

The firm reported a net profit of Rs 23.49 crore and sales of Rs 204.18 crore for the six months ended on 30 September 2023.

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The initial public offer (IPO) of GPT Healthcare received 16,84,27,600 bids for shares as against 1,97,63,327 shares on offer, according to stock exchange data at 17:30 IST on Monday (26 February 2024). The issue was subscribed 8.52 times.

The issue opened for bidding on Thursday (22 February 2024) and it will close on Monday (26 February 2024). The price band of the IPO is fixed at Rs 177 to 186 per share. An investor can bid for a minimum of 80 equity shares and in multiples thereof.

The offer comprises of fresh issue of equity shares aggregating up to Rs 40 crore and offer for sale of 26,082,786 equity shares aggregating up to Rs 485.14 crore by BanyanTree Capital Growth II, LLC.

The promoters and and promoter group held 67.34% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 65.57%.

The objectives for the fresh issue include Rs 30 crore for repayment/prepayment of certain borrowings and the remaining amount is to be used for general corporate purposes.

Ahead of the IPO, GPT Healthcare on Wednesday, 21 February 2024 raised Rs 157.54 crore from anchor investors. The board allotted 84.69 lakh shares at Rs 186 each to 15 anchor investors.

GPT Healthcare operates a chain of mid-sized full-service hospitals under the same brand and provides integrated healthcare services, with a focus on secondary and tertiary care. As of 30 September 2023, the company operated four multispecialty hospitals in Dum Dum, salt Lake and Howrah in West Bengal and Agartala in Tripura with a total capacity of 561 beds.

The company offers comprehensive range of healthcare services across over 35 specialties and superspecialties including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general suregery, gynaecology and obstetrics, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, neurosurgery, paediatrics and neonatology.

The firm reported a net profit of Rs 23.49 crore and sales of Rs 204.18 crore for the six months ended on 30 September 2023.

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