Buy Artemis Medicare; target of Rs 350: Choice Institutional Equities

Moneycontrol • 1 day ago

Original source

Key Investment Pillars

  • Artemis Medicare is targeting capacity expansion to ~2,000 beds over the next 3–5 years, supporting long-term growth.
  • The company's international patient business, contributing ~30% of revenue, provides an additional growth avenue.
  • The Raipur facility is anticipated to break even within 12–15 months as occupancy improves towards 25–30%.
  • Proposed oncology drug margin cap could impact EBITDA margin by 50–80 bps.

Thesis Validation Checklist

  • Occupancy improvement in the Raipur facility towards 25–30% over the next few quarters.
  • International patient revenue growth, driven by expansion into new markets.
  • Successful execution of the proposed expansion plans, including the Gurugram and South Delhi projects.
  • EBITDA margin expansion, driven by operating leverage and cost discipline.