All you need to know about

YATHARTH HOSPITAL & TRAUMA CARE SERVICES LIMITED

Issue Details

Issue Amount : `687 crore

Post Issue Implied Market Cap : 2,576 crore
Total shares on offer : Upto 22,885,023 Equity shares
Face Value : 10 per share
Price Band : `285 to `300
Lot Size : 50 shares
Registrar : Link Intime India Private Limited

Source : BRLM

Offer Breakup
Issue size - No. of Shares Issue size
Category Allocation
Lower band Upper band (Rs in Cr)

QIB 50% 11,872,335 11,442,510 343.28

NIB 15% 3,561,701 3,432,754 102.98

Retail 35% 8,310,636 809,759 240.29

Total 100% 23,744,672 22,885,023 686.55

Source : BRLM
.
 IPO timeline `
Issue opens on: `

26
Wednesday July 26, 2023

Issue closes on: JULY

Friday, July 28, 2023

02 Finalization of 03 Refunds/Unblocking
Aug 2023 basis of allotment Aug 2023 ASBA fund

04 Credit of equity 07 Trading

Aug 2023 shares to DP account Aug 2023 commences

Source - BRLM. Dates are tentative

The objective of the offer

Our Company proposes to utilise the Net Proceeds towards the following objects:
Repayment/ prepayment, in full or part, of certain
borrowings availed by the company.
Repayment/ prepayment, in full or part, of certain
borrowings availed by subsidiaries, namely, AKS Medical
& Research Centre Private Limited (AKS) and Ramraja
Multispeciality Hospital & Trauma Centre Private
Limited (Ramraja).
Funding capital expenditure expenses of two
hospitals - Noida Hospital and Greater Noida
Hospital.
Funding inorganic growth initiatives through
acquisitions and other strategic initiatives.
`
General corporate purposes.

Source - RHP
About the company

Yatharth Hospital and Trauma Care Services Limited (i.e., Noida Extension Hospital and
Greater Noida) are the eighth and 10th largest private hospitals in the National Capital Region
of Delhi (Delhi NCR), respectively, in terms of number of beds in Fiscal 2023 (Source: CRISIL
Report). It acquired a 305-bedded multi-speciality hospital in Orchha, Madhya Pradesh near
Jhansi, Uttar Pradesh (Jhansi-Orchha) which commenced commercial operations in from
April 10, 2022, and is one of the largest hospital in JhansiOrchha-Gwalior region in terms of
number of beds (Source: CRISIL Report). With this acquisition, In addition, its critical care
program comprises 394 critical care beds, as of March 31 2023. Further, its Noida Extension
hospital with 450 beds is one of the largest hospitals in the Noida Extension, Uttar Pradesh
region (Source: CRISIL Report). It believes in providing quality care treatment to its patients
and its services at its hospitals located in Noida, Greater Noida and Noida Extension, all
located in Uttar Pradesh have been rated “5 Star” by Infomerics Analytics and Research
Private Limited in 2022.

It commenced operations in 2008 with a clinic in Noida, Uttar Pradesh and thereafter
established its first hospital in Greater Noida, Uttar Pradesh in November 2010. This hospital
has since grown to become a super-specialty tertiary care hospital with 400 beds, including
112 critical care beds, nine modular and other operation theatres, as of March 31, 2023. Its
second hospital in Noida, Uttar Pradesh commenced operations in 2013 as a 250-bedded
super-specialty tertiary care hospital. The Noida hospital has a mix of four modular and other
operation theatres as well as 81 critical care beds. Its third hospital located in Noida
Extension, Uttar Pradesh is a 450-bedded tertiary care hospital with a mix of 11 modular and
other operation theatres. It also has 125 critical care beds, and commenced operations in May
2019. Further, it acquired a 305-bedded Jhansi-Orchha hospital during the last quarter of
Fiscal 2022, which is one of the largest hospitals in Jhansi-Orchha-Gwalior region in terms of
number of beds (Source: CRISIL Report). The Jhansi-Orchha hospital commenced
commercial operations from April 10, 2022 and is equipped with 11 modular and other
operation theatres and has 76 critical care beds, as of March 31, 2023.

Source : RHP
Strengths

Among the leading Advanced and high-end Ability to attract quality

super-specialty hospitals medical equipment and doctors, nurses,
in Delhi NCR with diverse technology. paramedical, and other staff.
specialty and payer mix.

Experienced and qualified Track record of stable

professional management operating and financial
team with a strong performance and growth.
execution track record.

Source : RHP

Risks

As a healthcare provider, It has high fixed costs, which It may not be able to
COVID-19 pandemic had can adversely impact successfully integrate its
an adverse effect on its profitability. acquisitions or investments.
business.

`
`

It depends on a number of Inability to obtain additional

key personnel, including its financing on terms
promoters and senior favourable to the company.
management.

Source : RHP
 Important Financials Data
For the year/period ended (` in Crore)

Particulars As at As at As at
(`, in crore) March 31, March 31, March 31,
2023 2022 2021

Share Capital 65.52 65.52 16.38

Revenue from
Operations 520.29 400.94 228.67

Revenue Growth
(%) 29.77 75.34 NA

EBITDA
133.77 110.81 67.01

Net Profit for

the period
65.77 44.16 19.59

Basic EPS (Rs ) 10.09 6.78 2.77

FYXX

ROE (%) 35.95 37.78 25.06

Source : RHP/BRLM.
Peer Comparison
Following is the comparison with its peer group companies listed in India and in the same line of business as the company:

Name of P/E
Company
Name of Face Value P/E Total Ratio EPS EPS NAVEV/ P/E
RONW
Company per equity Income, (Basic) (₹) (Diluted) EBITDA (%)
(₹per
share for Fiscal (₹) share)
(₹) 2023
(in ₹ million)

Yatharth Hospital
and Trauma 10 N/A 5,231.00 10.09 10.09 27.93 35.95
Care Services
Limited

Listed Peers

Apollo Hospitals
Enterprise 5 89.44 167,027.90 56.97 56.97 431.02 13.22
Limited

Fortis
Healthcare 10 40.36 63,593.50 7.80 7.80 95.93 8.13
Limited

Narayana
Hrudalaya 10 33.29 45,902.10 29.85 29.85 104.30 28.44
Limited

Max Healthcare
Institute 10 52.66 47,018.40 11.38 11.36 76.32 14.89
Limited

Krishna Institute
of Medical 42.03 208.62
10 42.44 22,235.50 42.03 20.14
Sciences Limited

Healthcare
Global 2.10 61.86
10 151.02 17,076.20 2.11 3.41
Enterprises
Limited

Global 90.54
2 52.44 27,591.63 12.58 12.57 13.43
Health
Limited

Notes: * Based on Restated Consolidated Financial Information as on and year ended March 31, 2023. # To be included in respect of our
Company in Prospectus based on the Offer Price 1. P/E Ratio: P/E Ratio has been computed based on the closing market price of equity shares
on BSE on June 30, 2023 divided by the Basic EPS provided under Note 2 below. 2. EPS: Basic & Diluted EPS refers to the EPS sourced from the
financial results of the respective company for the year ended March 31, 2023. 3. Net Asset Value: Net Asset Value is computed as the Equity
attributable to owners of the company at the end of year March 31, 2023 divided by the equity shares outstanding as on March 31, 2023. 4.
Return on Net Worth % (RONW %) is calculated as Profit after taxes attributable to owners of the company as a percentage of Equity
attributable to owners of the company at the end of year March 31, 2023.
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For more details refer offer documents on sebi www.sebi.gov.in

The securities quoted are exemplary and are not recommendatory. Such representations are not indicative of future results.
Source of statistical information, charts, graphs etc – RHP, DRHP, addendum and Moneycontrol.

Investment in securities market are subject to market risks, read all the related documents carefully before investing.
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