Scripscan:Fortis Malar Hospitals Ltd
Code:523696
Cmp:35
Story:Fortis Malar Hospitals Limited manages and operates a multi-specialty hospital in Chennai, India. The company offers healthcare services primarily in the areas of cardiology, cardiac surgery, neurology, neuro surgery, orthopedics, nephrology, gynecology, gastroenterology, pediatrics, and diabetics.Its hospital comprises 180 beds.The company is a subsidary of fortis healthcare.Fortis has recently taken over operations and management of cardiac centre at 170-bed Oasis Hospitals in Sri Lanka.Oasis Hospital offers medical services with special focus on oncology, general medicine, paediatrics and gynecology, besides diagnostic services.The company has tied up with East Coast Hospital in Pondicherry to manage their new hospital, and it further plans of expanding to other cities also in Tamil Nadu.The new programs and new specialities will increase the growth opportunity.Fortis recorded a net profit of Rs 5.4 crore for the year ended March 31, 2011 on the topline of Rs 83.2 crore as against that of Rs 3.5 crore on the topline of Rs 64.1 crore in the previous year.The company has guided a turnover of 100crs for fy12.Fortis has performed consistently over the last four years.The company has hinted about paying dividend in the coming fiscal which should help it to find better valuation in the bourses.Considering the expected growth,the sunrising industry,expansion plans,fortis should be bought at around 28-30rs for decent returns in the longer term.
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