Artemis Medicare Services Ltd. – 2023 AGM Notes.
- Ramped up occupancy in Tower 2.
- Construction in Tower 3 is in full swing. 22 OPDs have already started in Tower 3.
- Working improved in FY23 due to increase in ARPOB & recovery in numbers of foreign patients.
- Revenues from international customers could be in the range of 24-30% in the coming years.
- Expanded capacity is 70%+ occupied.
- Tower 3 will be the final tower at the existing location. After this the FAR will be exhausted.
- Hired PWC to look at the ways for cost optimization. Results will be visible in the coming quarters.
- Mission is to go around the 18% margin range.
- Signed MOU for 100 bed Pediatric hospital to be launched in 2025.
- Cardiac Care centers
- 9 Cardiac care centers in operation. Of these 7 have matured and will break even this year, 2 centers will break even next year.
- Expected EBITDA in 20% range.
- Go beyond 25 centers in the coming years.
- Rs. 5 cr investment in each center and it takes around 18 months to break even.
- Trade Receivables are from Government empanelled customers. It takes 6 months to clear the dues. Made provisions of Rs. 8.23 cr as a precaution, actual Bad Debts have only been Rs. 60 lakh.
- Pharmacy sales of Rs. 15 cr in Annual Report is only from OPD customers. IPD pharmacy sales are billed in hospital bills only. IPD Pharmacy sales were around 30% of sales.
| Subscribe To Our Free Newsletter |
