Sales of Healthcare Services segment has gone up 144.10% to Rs 1,941.24 crore (accounting for 51.58% of total sales).  Sales of Clinics segment rose 201.67% to Rs 309.00 crore (accounting for 8.21% of total sales).  Sales of others segment has gone up 6.00% to Rs 1.06 crore (accounting for 0.03% of total sales).  Inter-segment sales came down from Rs 6.35 crore to Rs 3.09 crore.  

PBIT of Healthcare Services reported profit of Rs 286.77 crore compared to loss of Rs 181.33 crore.  PBIT of Clinics reported profit of Rs 25.73 crore compared to loss of Rs 24.53 crore.  PBIT of others segment fell 49.38% to Rs -0.41 crore (accounting for -0.11% of total PBIT).  

PBIT margin of Healthcare Services segment rose from negative 22.80% to 14.77%.  PBIT margin of Clinics segment rose from negative 23.95% to 8.33%.  PBIT margin of others segment rose from negative 81.00% to negative 38.68%.  Overall PBIT margin rose from 5.73% to 10.08%.  

Operating profit margin has jumped from 1.63% to 13.83%, leading to 1,365.25% rise in operating profit to Rs 519.87 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 12.01% to 14.97%.   Purchase of finished goods cost fell from 46.58% to 41.34%.   Employee cost decreased from 19.47% to 11.41%.   Other expenses fell from 20.39% to 18.91%.   

Other income rose 219.17% to Rs 24.64 crore.  PBIDT rose 1,160.44% to Rs 544.51 crore.  Provision for interest fell 25.68% to Rs 94.68 crore.  

PBDT stood at Rs 449.83 crore compared to loss of Rs 84.19 crore.  Provision for depreciation fell 12.25% to Rs 140.56 crore.  

Profit before tax reported profit of Rs 309.27 crore compared to loss of Rs 244.37 crore.  Share of profit/loss was 81.66% higher at Rs -4.15 crore.  Provision for tax was debit of Rs 98.55 crore, compared to credit of Rs 40.76 crore.  Effective tax rate was 16.45% compared to 15.27%.

Minority interest was Rs 11.4 crore compared to negative Rs 18.05.  Net profit attributable to owners of the company was Rs 489.28 compared to loss of Rs 208.19 crore.  

Promoters' stake was 29.82% as of 30 June 2021 ,compared to 30.82% as of 30 June 2020 .  Promoters pledged stake was 15.63% as of 30 June 2021 ,compared to 36.65% as of 30 June 2020 .  

Full year results analysis.

Net sales (including other operating income) of Apollo Hospitals Enterprise has declined 6.11% to Rs 10560.01 crore.  Sales of Healthcare Services segment has gone down 12.65% to Rs 5,023.02 crore (accounting for 47.45% of total sales).  Sales of Retail Pharmacy segment has gone down 52.91% to Rs 2,269.84 crore (accounting for 21.44% of total sales).  Sales of Clinics segment fell 2.09% to Rs 681.78 crore (accounting for 6.44% of total sales).  Sales of others segment has gone down 4.35% to Rs 4.18 crore (accounting for 0.04% of total sales).  Inter-segment sales rose Rs 24.94 crore to Rs 25.01 crore.  

Profit before interest, tax and other unallocable items (PBIT) has slumped 41.68% to Rs 564.28 crore.  PBIT of Healthcare Services segment fell 59.03% to Rs 287.77 crore (accounting for 51.00% of total PBIT).  PBIT of Retail Pharmacy segment fell 48.56% to Rs 149.26 crore (accounting for 26.45% of total PBIT).  PBIT of Clinics segment fell 51.10% to Rs -10.69 crore (accounting for -1.89% of total PBIT).  PBIT of others segment rose 2.86% to Rs -3.24 crore (accounting for -0.57% of total PBIT).  

PBIT margin of Healthcare Services segment fell from 12.22% to 5.73%.  PBIT margin of Retail Pharmacy segment rose from 6.02% to 6.58%.  PBIT margin of Clinics segment rose from negative 3.14% to negative 1.57%.  PBIT margin of others segment fell from negative 72.08% to negative 77.51%.  Overall PBIT margin fell from 8.58% to 5.33%.  

Operating profit margin has jumped from 14.11% to 10.77%, leading to 28.34% decline in operating profit to Rs 1,137.41 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.93% to 15.19%.   Purchase of finished goods cost rose from 33.44% to 39.18%.   Employee cost decreased from 16.32% to 14.98%.   Other expenses fell from 20.33% to 20.00%.   

Other income rose 66.81% to Rs 44.99 crore.  PBIDT fell 26.75% to Rs 1182.4 crore.  Provision for interest fell 15.68% to Rs 449.22 crore.  Loan funds declined from Rs 3,279.47 crore as of 31 March 2020 to Rs 2,494.72 crore as of 31 March 2021.  Inventories declined from Rs 737.83 crore as of 31 March 2020 to Rs 249.48 crore as of 31 March 2021.  Sundry debtors were higher at Rs 1,331.17 crore as of 31 March 2021 compared to Rs 1,027.24 crore as of 31 March 2020.  Cash and bank balance rose to Rs 724.40 crore as of 31 March 2021 from Rs 466.75 crore as of 31 March 2020.  Investments rose to Rs 1,342.56 crore as of 31 March 2021 from Rs 434.01 crore as of 31 March 2020 .  

PBDT fell 32.21% to Rs 733.18 crore.  Provision for depreciation fell 7.51% to Rs 573.13 crore.  Fixed assets declined from Rs 7,321.60 crore as of 31 March 2020 to Rs 6,550.92 crore as of 31 March 2021.  Intangible assets increased from Rs 346.21 crore to Rs 461.27 crore.  

Profit before tax down 65.34% to Rs 160.05 crore.  Extraordinary items were decreased to Rs 60.65 crore.  Provision for tax was expense of Rs 84.7 crore, compared to Rs 225.19 crore.  Effective tax rate was 38.24% compared to 34.28%.

Minority interest increased 41.27% to Rs -13.59 crore.  Net profit attributable to owners of the company decreased 66.95% to Rs 150.36 crore.  

Equity capital increased from Rs 69.56 crore as of 31 March 2020 to Rs 71.89 crore as of 31 March 2021.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 29.82% as of 31 March 2021 ,compared to 30.81% as of 31 March 2020 .  Promoters pledged stake was 27.94% as of 31 March 2021 ,compared to 36.66% as of 31 March 2020 .  

Cash flow from operating activities decreased to Rs 1,273.48 crore for year ended March 2021 from Rs 1,292.84 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 295.49 crore, compared to Rs 512.98 crore during the year ended March 2020.  

Other Highlights

In Q1FY22 occupancy across the group was at 5,108 beds (67% occupancy) as compared to 2,742 beds (38% occupancy) in Q1FY21. Occupancy in mature hospitals was at 3,500 beds (64% occupancy) and new hospitals had an occupancy of 1,607 beds (73% occupancy) in Q1FY22.

As on June 30, 2021, company had 71 hospitals with total bed capacity of 10,209 beds.

In Q1 FY22, HealthCare Services revenue grew by 145% to Rs 19,39.2 crore and combined platform pharmacy business grew by 43% to Rs 1829.3 crore on YoY basis.

During the quarter inpatient volume increased 53.2%, outpatient volume increased by 434.8% on YoY basis.

Private Label sales contributed 13.24% of total sales in Q1 FY22.