ICICI Securities keeps hold on Apollo Hospitals, sets ₹8,500 target
Business
ICICI Securities is keeping its "hold" rating on Apollo Hospitals, aiming for a target price of ₹8,500.
This follows Apollo's solid Q2FY27 results: revenue jumped across all divisions, but margins took a hit.
Apollo Hospitals up 23%, margins 24%
Apollo's hospital business grew 23% year-on-year, with existing hospitals leading the charge.
Occupancy rates climbed to 73%, even as 472 new beds were added.
Still, losses from new hospitals dragged overall margins down to 24%.
On the bright side, Apollo's online pharmacy finally turned cash EBITDA-positive (a good sign for its digital push) and management expects Healthco (including Keimed) margins to reach about 6% by Q4FY27.