 |
| April 22, 2016 | 
| | | Thyrocare Technologies
TTL is one of the leading pan-India diagnostics chain with focus on preventive and wellness health offerings. The company's geographic presence is in 483 cities across 27 states and 1 union territory through 1,122 authorised service providers (ASPs). It has a fully automated central processing laboratory (CPL) in Navi Mumbai and has received accreditations from CAP, NABL and ISO. It has total five regional processing laboratories (RPL) namely in New Delhi, Coimbatore, Hyderabad, Kolkata and Bhopal. The company has a hub and spoke business model, where sample procurement is done through ASPs under franchisee agreements. ASPs collect samples from local hospitals, laboratories, pathologists, referring doctors, walk-in customers and home collection services.
Valuation: At a price band of Rs420-446, the issue is priced at 47.7-50.7x price-earnings (PE) ratio for FY2015 consolidated earnings per share (EPS) of Rs8.8 and 30-32x EV/EBIDTA for FY2015. The valuations at the offer price are similar to that offered in the public issue of recently listed comparable players like Dr Lal Pathlabs. After listing, the premium valuations of Dr Lal Pathlabs have expanded further due to its strong track record, healthy return ratios and high free cash flows despite the aggressive expansion and exponential growth in the business. |
| Sharekhan Limited, its analyst or dependant(s) of the analyst might be holding or having a position in the companies mentioned in the article. | |
Regards,
Sharekhan Fundamental research team
| 
www.sharekhan.com
| |
--
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to
longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at
https://groups.google.com/group/longterminvestorsresearch.
For more options, visit
https://groups.google.com/d/optout.
No comments:
Post a Comment