Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Key Stats

In Millions of INR, except per share items. Currency: Indian Rupee   Conversion: Historical
Order: Latest on Right   Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default)   Dilution: Basic

Key Financials¹
LTM²
Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months†
Mar-31-2016A Mar-31-2017A Mar-31-2018A Mar-31-2019A Sep-30-2019A Mar-31-2020E
Currency INR INR INR INR INR INR

Total Revenue 62,146.5 72,557.0 82,434.7 96,174.4 104,071.7 110,737.04

Growth Over Prior Year 20.0% 16.8% 13.6% 16.7% NA 15.14%

Gross Profit 21,363.6 23,716.9 27,160.8 32,577.1 35,413.8 -

Margin % 34.4% 32.7% 32.9% 33.9% 34.0% 51.18%

EBITDA 6,875.4 7,257.6 7,855.0 10,508.1 12,268.5 14,516.74

Margin % 11.1% 10.0% 9.5% 10.9% 11.8% 13.11%

EBIT 4,303.3 4,197.5 4,422.0 6,741.8 8,400.9 9,153.92

Margin % 6.9% 5.8% 5.4% 7.0% 8.1% 8.27%

Earnings from Cont. Ops. 2,352.3 1,311.2 595.6 2,001.7 2,549.5 -

Margin % 3.8% 1.8% 0.7% 2.1% 2.4% -

Net Income 2,363.8 2,209.9 1,174.2 2,360.5 2,821.2 3,629.93

Margin % 3.8% 3.0% 1.4% 2.5% 2.7% 3.28%

Diluted EPS Excl. Extra Items³ 16.99 15.88 8.44 16.97 20.28 25.85
Growth Over Prior Year (30.5%) (6.5%) (46.9%) 101.0% NA 52.30%

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H S

¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages.
²Growth rates for the LTM period are calculated against the LTM period ending 12 months before.
³All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials.
†Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page.
Growth Rates are calculated in originally reported currency only and will not reflect any currency conversion selected above.

Current Capitalization (Millions of INR)

Currency INR
Share Price 1,418.1
Shares Out. 139.1

Market Capitalization 197,293.4

- Cash & Short Term Investments 7,482.8
+ Total Debt 35,027.3
+ Pref. Equity -
+ Total Minority Interest 1,304.2
= Total Enterprise Value (TEV) 226,142.1

Book Value of Common Equity 30,572.9

+ Pref. Equity -
+ Total Minority Interest 1,304.2
+ Total Debt 35,027.3
= Total Capital 66,904.4

**For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.

Total Liability includes Total Debt, Minority Interest and Pref. Equity.
Net Liability includes Total Liability, net of Cash and Short Term Investments.
TEV includes Market Cap and Net Liability.
Total Capital includes Common Equity and Total Liability.

Valuation Multiples based on Current Capitalization

 LTM
Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months
Mar-31-2019A Sep-30-2019A Mar-31-2020E Mar-31-2021E Mar-31-2022E
TEV/Total Revenue 2.4x 2.2x 2.04x 1.84x 1.63x

TEV/EBITDA 22.0x 18.4x 15.58x 13.67x 11.55x

TEV/EBIT 34.3x 26.9x 24.70x 20.87x 17.47x

P/Diluted EPS Before Extra 83.6x 69.9x 54.87x 39.16x 28.71x

P/BV 5.9x 6.5x 5.65x 5.08x 4.42x

Price/Tang BV 6.7x 7.4x - - -

 12 months 12 months
Mar-31-2021E Mar-31-2022E
INR INR

122,871.11 138,411.64
10.96% 12.65%

- -
51.20% 51.74%

16,549.0 19,578.0
13.47% 14.14%

10,837.84 12,944.69
8.82% 9.35%

- -
- -

5,032.12 6,882.82
4.10% 4.97%

36.21 49.4
40.11% 36.41%

INR INR
1.0 1.0
S S
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Income Statement
In Millions of INR, except per share items. Template: Standard   Restatement: Latest Filings
Period Type: Annual   Order: Latest on Right
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)

Income Statement
LTM
Reclassified Restated Restated Reclassified Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019 Sep-30-2019
Currency INR INR INR INR INR INR

Revenue 51,784.5 62,146.5 72,557.0 82,434.7 96,174.4 104,071.7

Other Revenue - - - - - -
Total Revenue 51,784.5 62,146.5 72,557.0 82,434.7 96,174.4 104,071.7

Cost Of Goods Sold 34,412.2 40,783.0 48,840.2 55,273.9 63,597.3 68,657.9

Gross Profit 17,372.3 21,363.6 23,716.9 27,160.8 32,577.1 35,413.8

Selling General & Admin Exp. 3,347.5 4,227.6 4,555.7 5,063.9 5,475.9 5,475.9
Provision for Bad Debts 258.7 239.0 180.1 110.9 429.8 429.8
Stock-Based Compensation - - 4.4 - - -
R & D Exp. - - - - - -
Depreciation & Amort. 2,116.5 2,638.3 3,140.4 3,590.3 3,955.3 5,018.3
Other Operating Expense/(Income) 6,381.2 9,955.3 11,638.8 13,973.8 15,974.3 16,088.9

Other Operating Exp., Total 12,103.9 17,060.3 19,519.3 22,738.8 25,835.3 27,012.9

Operating Income 5,268.4 4,303.3 4,197.5 4,422.0 6,741.8 8,400.9

Interest Expense (1,033.6) (1,621.9) (2,284.3) (2,592.1) (2,837.0) (3,866.3)

Interest and Invest. Income 64.3 96.4 130.5 194.2 149.4 149.4
Net Interest Exp. (969.3) (1,525.4) (2,153.9) (2,397.9) (2,687.7) (3,717.0)

Income/(Loss) from Affiliates 93.5 272.4 423.9 2.3 9.8 12.6

Currency Exchange Gains (Loss) (9.3) (102.2) 187.0 (18.0) (8.6) (8.6)
Other Non-Operating Inc. (Exp.) 53.1 66.3 (389.5) (213.6) (305.3) (243.6)
EBT Excl. Unusual Items 4,436.4 3,014.4 2,265.0 1,794.7 3,750.0 4,444.3

Impairment of Goodwill - - - - - -
Gain (Loss) On Sale Of Invest. 104.0 184.3 2.8 - 0.0 0.0
Gain (Loss) On Sale Of Assets (27.7) (36.8) (46.9) (80.1) (14.7) (14.7)
Other Unusual Items 135.0 159.4 - - - -
EBT Incl. Unusual Items 4,647.7 3,321.2 2,220.8 1,714.6 3,735.4 4,429.7
Income Tax Expense 1,300.0 969.0 909.6 1,119.1 1,733.7 1,880.2
Earnings from Cont. Ops. 3,347.6 2,352.3 1,311.2 595.6 2,001.7 2,549.5

Earnings of Discontinued Ops. - - - - - -

Extraord. Item & Account. Change - - - - - -
Net Income to Company 3,347.6 2,352.3 1,311.2 595.6 2,001.7 2,549.5

Minority Int. in Earnings 51.4 11.5 898.7 578.6 358.8 271.7

Net Income 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5 2,821.2

Pref. Dividends and Other Adj. - - - - - -

NI to Common Incl Extra Items 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5 2,821.2
NI to Common Excl. Extra Items 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5 2,821.2

Per Share Items

Basic EPS 24.43 16.99 15.88 8.44 16.97 20.28
Basic EPS Excl. Extra Items 24.43 16.99 15.88 8.44 16.97 20.28
Weighted Avg. Basic Shares Out. 139.1 139.1 139.1 139.1 139.1 139.1

Diluted EPS 24.43 16.99 15.88 8.44 16.97 20.28

Diluted EPS Excl. Extra Items 24.43 16.99 15.88 8.44 16.97 20.28
Weighted Avg. Diluted Shares Out. 139.1 139.1 139.1 139.1 139.1 139.1

Normalized Basic EPS 20.3 13.62 16.63 12.22 19.43 21.92

Normalized Diluted EPS 20.3 13.62 16.63 12.22 19.43 21.92

Dividends per Share 5.75 6.0 6.0 5.0 6.0 NA

Payout Ratio % 23.5% 68.3% NA 85.9% 29.5% 24.7%

Shares per Depository Receipt 1.0 1.0 1.0 1.0 1.0 1.0

Supplemental Items
EBITDA 7,384.9 6,875.4 7,257.6 7,855.0 10,508.1 12,268.5
EBITA 5,344.1 4,348.5 4,246.4 4,447.2 6,754.7 8,413.8
EBIT 5,268.4 4,303.3 4,197.5 4,422.0 6,741.8 8,400.9
EBITDAR 9,177.4 9,534.1 10,493.0 11,176.1 14,145.2 NA
As Reported Total Revenue* 52,152.1 62,596.8 72,782.0 82,756.2 96,488.8 104,447.8
Effective Tax Rate % 28.0% 29.2% 41.0% 65.3% 46.4% 42.4%
Current Domestic Taxes 559.9 NA NA NA NA NA
Total Current Taxes 559.9 1,020.4 835.8 883.7 1,258.8 1,874.0
Deferred Domestic Taxes 740.1 NA NA NA NA NA
Total Deferred Taxes 740.1 (51.5) 73.8 235.4 474.9 6.2

Normalized Net Income 2,824.2 1,895.5 2,314.3 1,700.3 2,702.6 3,049.4

Interest Capitalized 620.0 985.7 575.0 349.0 350.0 NA
Non-Cash Pension Expense 114.3 (1.6) 4.1 19.6 75.1 -
Filing Date May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019 Nov-14-2019
Restatement Type RC RS RS RC O P
Calculation Type REP REP REP REP REP LTM

Supplemental Operating Expense Items

Marketing Exp. 1,555.0 1,568.9 1,320.3 1,742.8 1,838.8 NA
Selling and Marketing Exp. 1,555.0 1,568.9 1,320.3 1,742.8 1,838.8 1,838.8
Net Rental Exp. 1,792.5 2,658.7 3,235.4 3,321.1 3,637.0 NA
Imputed Oper. Lease Interest Exp. 1,421.4 2,296.8 2,482.5 2,383.7 2,610.6 -
Imputed Oper. Lease Depreciation 371.1 361.9 752.9 937.4 1,026.4 -
Maintenance & Repair Exp. NA NA 886.5 903.4 1,006.3 NA

Stock-Based Comp., Unallocated - - 4.4 6.2 9.1 9.1

Stock-Based Comp., Total - - 4.4 6.2 9.1 9.1

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
* Occasionally, certain items classified as Revenue by the company will be re-classified as other income if it is deemed to be non-recurring and unrelated to the core business of the firm. This field shows Total Revenue exa
Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.
Revenue exactly as reported by the firm on its consolidated statement of income.
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Balance Sheet
In Millions of INR, except per share items. Template: Standard   Restatement: Latest Filings
Period Type: Annual   Order: Latest on Right
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)

Balance Sheet
Balance Sheet as of: Restated Restated Restated Press Release
Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019 Sep-30-2019
Currency INR INR INR INR INR INR
ASSETS
Cash And Equivalents 3,773.3 3,419.8 2,827.8 3,063.3 2,862.1 4,918.1
Short Term Investments 1,455.7 78.4 - - - 2,564.7
Trading Asset Securities - 739.0 1,058.5 578.7 688.3 -
Total Cash & ST Investments 5,229.0 4,237.2 3,886.3 3,642.1 3,550.4 7,482.8

Accounts Receivable 6,092.7 6,100.6 7,529.8 8,904.7 10,967.4 11,245.0

Other Receivables 75.3 67.3 61.8 1,186.7 329.1 -
Notes Receivable 129.9 114.7 - - 80.0 80.0
Total Receivables 6,297.9 6,282.6 7,591.6 10,091.4 11,376.5 11,325.0

Inventory 3,502.6 4,061.3 4,668.7 5,658.4 5,847.8 6,502.9

Prepaid Exp. 186.3 538.7 498.1 455.9 494.3 -
Other Current Assets 4,172.9 4,625.9 4,647.5 2,353.5 1,548.4 2,180.6
Total Current Assets 19,388.8 19,745.7 21,292.2 22,201.3 22,817.3 27,491.3

Gross Property, Plant & Equipment 45,761.2 47,835.7 54,271.7 62,850.5 69,566.8 -
Accumulated Depreciation (10,106.7) (5,771.2) (8,710.0) (11,942.9) (15,411.2) -
Net Property, Plant & Equipment 35,654.6 42,064.5 45,561.7 50,907.6 54,155.6 70,391.6

Long-term Investments 1,587.5 2,697.3 3,002.0 2,941.2 3,928.2 5,710.4

Goodwill 1,932.6 3,309.9 3,462.5 3,462.0 3,461.9 3,462.1
Other Intangibles 180.5 215.4 277.3 409.5 350.8 382.1
Accounts Receivable Long-Term - - 7.0 4.5 4.5 -
Loans Receivable Long-Term 319.5 - - - 108.0 184.4
Deferred Tax Assets, LT 202.8 - 162.7 171.7 173.9 532.3
Other Long-Term Assets 5,528.3 5,565.3 7,427.5 6,030.2 6,830.4 3,830.5
Total Assets 64,794.4 73,598.0 81,192.9 86,127.9 91,830.7 111,984.7

LIABILITIES
Accounts Payable 4,191.4 5,501.9 5,011.9 6,060.2 7,131.2 7,896.7
Accrued Exp. 1,202.1 2,419.9 1,386.8 1,285.3 1,946.4 932.7
Short-term Borrowings 857.4 1,829.3 706.9 3,791.7 4,981.6 6,474.0
Curr. Port. of LT Debt 1,784.6 2,008.0 998.2 1,220.8 2,209.8 -
Curr. Port. of Cap. Leases - - 14.1 15.9 17.9 -
Curr. Income Taxes Payable 163.8 - - 12.7 10.6 10.4
Unearned Revenue, Current - 125.3 157.3 598.7 900.3 -
Other Current Liabilities 2,564.0 613.9 1,358.4 2,686.9 2,356.0 10,070.3
Total Current Liabilities 10,763.3 12,498.3 9,633.6 15,672.3 19,553.8 25,384.1

Long-Term Debt 17,280.6 24,533.5 29,493.2 29,257.0 29,514.4 28,553.3

Capital Leases - - 40.6 24.7 6.9 -
Unearned Revenue, Non-Current - - - 4.2 - -
Pension & Other Post-Retire. Benefits 18.2 32.7 46.1 62.3 114.4 142.0
Def. Tax Liability, Non-Curr. 4,222.3 2,174.7 2,413.2 2,565.1 3,148.7 2,413.7
Other Non-Current Liabilities 66.6 268.2 5,188.5 4,702.9 4,803.3 23,614.5
Total Liabilities 32,351.0 39,507.4 46,815.1 52,288.5 57,141.4 80,107.6

Pref. Stock, Convertible - - 34.5 - - -

Total Pref. Equity - - 34.5 - - -

Common Stock 695.6 695.6 695.6 695.6 695.6 695.6

Additional Paid In Capital 17,621.0 19,612.5 17,138.5 17,138.5 17,138.5 -
Retained Earnings 11,851.0 12,880.2 14,721.7 13,851.2 14,953.7 -
Treasury Stock - - - - - -
Comprehensive Inc. and Other 1,545.7 123.0 541.7 829.7 546.9 29,877.3
Total Common Equity 31,713.3 33,311.3 33,097.5 32,515.1 33,334.7 30,572.9

Minority Interest 730.1 779.3 1,245.8 1,324.4 1,354.6 1,304.2

Total Equity 32,443.5 34,090.6 34,377.8 33,839.4 34,689.3 31,877.1

Total Liabilities And Equity 64,794.4 73,598.0 81,192.9 86,127.9 91,830.7 111,984.7

Supplemental Items
Total Shares Out. on Filing Date 139.1 139.1 139.1 139.1 139.1 139.1
Total Shares Out. on Balance Sheet Date 139.1 139.1 139.1 139.1 139.1 139.1
Book Value/Share 227.95 239.43 237.9 233.71 239.6 219.8
Tangible Book Value 29,600.3 29,786.0 29,357.7 28,643.6 29,522.0 26,728.7
Tangible Book Value/Share 212.76 214.1 211.02 205.88 212.2 192.16
Total Debt 19,922.6 28,370.9 31,252.9 34,310.1 36,730.6 35,027.3
Net Debt 14,693.6 24,133.7 27,366.7 30,668.0 33,180.2 27,544.5
Debt Equiv. of Unfunded Proj. Benefit Obligation 141.4 161.4 187.3 215.1 413.2 NA
Debt Equivalent Oper. Leases 14,340.0 21,269.6 25,883.2 26,568.9 29,096.3 NA
Total Minority Interest 730.1 779.3 1,245.8 1,324.4 1,354.6 1,304.2
Equity Method Investments NA NA 2,785.1 2,763.5 3,654.5 3,276.0
Inventory Method FIFO FIFO FIFO FIFO FIFO NA
Raw Materials Inventory 218.2 335.7 370.3 223.5 150.4 NA
Finished Goods Inventory 3,059.8 3,559.5 4,107.3 5,196.6 5,433.5 NA
Other Inventory Accounts 224.6 166.2 191.1 238.3 263.9 NA
Land 2,856.1 3,346.9 3,303.5 3,609.0 4,706.2 NA
Buildings 8,468.4 12,846.6 16,567.7 17,401.5 14,741.0 NA
Machinery 21,626.0 21,043.0 25,947.4 29,404.6 32,704.5 NA
Construction in Progress 5,326.4 5,615.6 3,468.6 7,122.0 8,217.7 -
Leasehold Improvements 3,939.2 4,916.5 4,984.6 5,313.6 9,197.3 -
Full Time Employees 40,065 43,557 49,747 54,698 60,374 NA
Assets under Cap. Lease, Gross NA 67.2 NA NA NA NA
Assets under Cap. Lease, Accum. Depr. NA (11.1) NA NA NA NA
Accum. Allowance for Doubtful Accts NA 784.4 716.6 1,182.3 1,740.1 NA
Filing Date May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019 Nov-14-2019
Restatement Type NC RS RS RS O P
Calculation Type REP REP REP REP REP REP

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H

Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Cash Flow
In Millions of INR, except per share items. Template: Standard   Restatement: Latest Filings
Period Type: Annual   Order: Latest on Right
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)

Cash Flow
LTM
Restated Restated Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019 Sep-30-2019
Currency INR INR INR INR INR INR

Net Income 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5 2,821.2

Depreciation & Amort. 2,040.8 2,526.9 3,011.2 3,407.8 3,753.4 4,816.4
Amort. of Goodwill and Intangibles 75.7 45.2 48.9 25.3 12.9 12.9
Depreciation & Amort., Total 2,116.5 2,572.1 3,060.0 3,433.0 3,766.4 4,829.4

Other Amortization - 86.6 80.4 157.3 188.9 188.9

(Gain) Loss From Sale Of Assets (346.6) 58.2 57.1 80.5 14.7 14.7
(Gain) Loss On Sale Of Invest. (104.2) (365.2) (26.2) (25.5) (32.2) (32.2)
Asset Writedown & Restructuring Costs - - - 1.0 0.1 0.1
Stock-Based Compensation - - 4.4 6.2 9.1 9.1
Provision & Write-off of Bad debts 268.2 200.9 268.9 588.4 656.8 656.8
Other Operating Activities 974.8 947.0 1,355.8 2,008.0 2,543.2 570.9
Change in Acc. Receivable (1,341.4) (1,040.7) (1,618.2) (2,366.5) (2,636.9) (2,636.9)
Change In Inventories (721.8) (975.9) (607.3) (989.8) (189.4) (189.4)
Change in Acc. Payable 1,308.3 1,549.9 (1,157.9) 1,104.2 1,073.3 1,073.3
Change in Other Net Operating Assets (853.5) 574.9 2,598.6 198.6 1,295.1 1,295.1
Cash from Ops. 4,699.5 5,971.7 6,225.5 5,369.6 9,049.5 8,600.9

Capital Expenditure (8,680.6) (10,159.0) (6,734.5) (6,213.9) (6,789.2) (6,789.2)

Sale of Property, Plant, and Equipment 25.9 254.2 47.1 8.9 68.8 68.8
Cash Acquisitions - - - - - -
Divestitures - - - - - -
Invest. in Marketable & Equity Securt. 669.5 682.3 (4,959.2) 1,946.5 (534.5) (534.5)
Net (Inc.) Dec. in Loans Originated/Sold - - - - - -
Other Investing Activities 394.5 340.5 127.8 209.4 149.4 3,191.3
Cash from Investing (7,590.7) (8,882.1) (11,518.8) (4,049.1) (7,105.6) (4,063.7)

Short Term Debt Issued 390.2 788.6 - - - -

Long-Term Debt Issued 6,263.3 9,990.1 7,942.8 5,717.0 5,623.5 -
Total Debt Issued 6,653.5 10,778.7 7,942.8 5,717.0 5,623.5 5,623.5
Short Term Debt Repaid - - - - - -
Long-Term Debt Repaid (1,172.2) (3,959.8) (5,886.2) (2,698.7) (3,276.5) -
Total Debt Repaid (1,172.2) (3,959.8) (5,886.2) (2,698.7) (3,276.5) (3,276.5)
Issuance of Common Stock 417.5 28.7 6,055.9 83.3 - -

Common Dividends Paid (800.0) (1,615.4) - (1,008.4) (695.6) (695.6)

Total Dividends Paid (800.0) (1,615.4) - (1,008.4) (695.6) (695.6)

Special Dividend Paid - - - - - -

Other Financing Activities (1,175.7) (1,932.9) (3,343.0) (3,178.2) (3,796.5) (5,723.2)
Cash from Financing 3,923.1 3,299.3 4,769.6 (1,085.0) (2,145.1) (4,071.8)

Net Change in Cash 1,031.9 388.9 (523.7) 235.5 (201.2) 465.4

Supplemental Items
Cash Interest Paid 1,175.7 1,932.9 3,343.0 3,178.2 3,620.2 3,620.2
Cash Taxes Paid 1,002.8 1,411.9 1,336.2 1,251.0 1,924.3 1,924.3
Levered Free Cash Flow (5,991.3) (6,633.5) (5,037.8) 102.5 608.4 NA
Unlevered Free Cash Flow (5,345.3) (5,619.8) (3,610.1) 1,722.5 2,381.5 NA
Change in Net Working Capital 2,074.0 809.1 2,643.9 (1,576.2) (992.8) NA
Net Debt Issued 5,481.3 6,818.9 2,056.7 3,018.3 2,347.0 2,347.0
Filing Date May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019 Nov-14-2019
Restatement Type NC RS RS NC O P
Calculation Type REP REP REP REP REP LTM

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Multiples
View: Data   Frequency: Quarterly
Order: Latest on Right   Decimals: Capital IQ (Default)
Dilution: Basic  

In Millions of INR, except per share items.

For Quarter Ending Dec-31-2018 Mar-29-2019 Jun-30-2019 Sep-30-2019 Dec-28-2019

TEV/LTM Total Revenue Average 2.38x 2.45x 2.37x 2.30x 2.24x
High 2.57x 2.69x 2.54x 2.43x 2.45x
Low 2.16x 2.27x 2.06x 2.15x 2.09x
Close 2.51x 2.46x 2.28x 2.25x 2.17x

TEV/NTM Total Revenues Average 1.94x 1.93x 1.95x 2.04x 1.97x

High 2.06x 2.12x 2.07x 2.15x 2.16x
Low 1.84x 1.79x 1.82x 1.95x 1.81x
Close 1.98x 1.94x 2.03x 1.99x 1.88x

TEV/LTM EBITDA Average 24.95x 25.71x 24.09x 20.89x 19.27x

High 26.95x 28.26x 26.65x 22.11x 21.30x
Low 22.61x 23.84x 19.54x 18.70x 17.68x
Close 26.35x 25.81x 21.68x 19.58x 18.41x

TEV/NTM EBITDA Average 18.18x 17.57x 17.26x 17.11x 15.42x

High 19.01x 19.87x 17.98x 17.93x 17.20x
Low 17.10x 15.82x 16.42x 16.01x 13.98x
Close 18.59x 17.15x 17.59x 16.01x 14.56x

TEV/LTM EBIT Average 44.31x 45.66x 40.82x 31.89x 28.88x

High 47.87x 50.20x 47.33x 33.45x 32.77x
Low 40.16x 42.34x 29.56x 28.77x 25.80x
Close 46.80x 45.83x 32.81x 30.14x 26.88x

TEV/NTM EBIT Average 28.12x 26.79x 26.36x 26.30x 24.00x

High 29.35x 30.35x 27.30x 27.46x 26.75x
Low 26.81x 24.05x 25.02x 24.84x 21.72x
Close 28.36x 26.09x 26.94x 24.84x 22.62x

P/LTM EPS Average 139.72x 144.79x 120.96x 78.72x 73.60x

High 153.11x 161.89x 151.09x 81.92x 82.45x
Low 124.08x 132.28x 70.89x 70.95x 66.73x
Close 149.09x 145.45x 80.09x 74.87x 69.94x

P/NTM EPS Average 54.54x 57.17x 52.62x 55.64x 50.34x

High 58.92x 62.30x 58.79x 67.01x 60.74x
Low 49.43x 48.90x 42.11x 45.12x 42.51x
 Close 57.38x 56.41x 47.77x 61.46x 45.62x

P/LTM Normalized EPS Average 98.31x 101.88x 89.89x 70.13x 67.33x

High 107.73x 113.91x 106.31x 73.84x 74.59x
Low 87.30x 93.07x 62.13x 64.19x 61.74x
Close 104.90x 102.34x 70.19x 67.73x 64.71x

P/BV Average 5.05x 5.23x 5.33x 5.85x 6.25x

High 5.53x 5.85x 5.83x 6.35x 6.75x
Low 4.48x 4.78x 4.86x 5.43x 5.71x
Close 5.38x 5.25x 5.67x 5.82x 6.45x

P/Tangible BV Average 5.73x 5.94x 6.04x 6.61x 7.11x

High 6.28x 6.64x 6.59x 7.17x 7.72x
Low 5.09x 5.42x 5.52x 6.13x 6.45x
Close 6.11x 5.96x 6.40x 6.58x 7.38x

P/NTM CFPS Average 25.88x 23.18x 22.42x - 15.96x

High 28.22x 29.03x 24.83x - 18.31x
Low 23.11x 18.87x 20.41x - 14.28x
Close 27.48x 21.21x 21.21x - 14.97x

TEV/LTM Unlevered FCF Average 113.79x 117.24x - - -

High 122.91x 128.90x - - -
Low 103.13x 108.72x - - -
Close 120.18x 117.70x - - -

Market Cap/LTM Levered FCF Average NM NM - - -

High NM NM - - -
Low NM NM - - -
Close NM NM - - -

Average multiples are calculated using positive close values on each trading day within the frequency periods selected. Negative values are excluded from the calculation. When the Multiples are not meaningful, due to neg

When a mismatch exists between the currency of the equity listing and the reported financial results such results are translated into the currency of the listing at the exchange rate applicable on the financial period end date

Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
 ul, due to negative values, then they will not be displayed in the chart.

eriod end date.

Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Historical Capitalization
In Millions of INR, except per share items. Frequency: Quarterly   Order: Latest on Right
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)
Dilution: Basic  

Historical Capitalization
Balance Sheet as of:
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Pricing as of* Jul-28-2014 May-28-2015 May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019
Currency INR INR INR INR INR INR
Capitalization Detail
Share Price 1,022.1 1,222.25 1,339.9 1,034.7 1,108.4 1,508.15
Shares Out. 139.1 139.1 139.1 139.1 139.1 139.1

Market Capitalization 142,199.8 170,045.7 186,413.8 143,952.8 154,206.3 209,821.6

- Cash & Short Term Investments 4,296.5 5,229.0 4,692.9 6,345.3 3,642.1 3,550.4
+ Total Debt 13,443.6 19,922.6 26,866.9 31,477.6 34,310.1 36,730.6
+ Pref. Equity - - - - - -
+ Total Minority Interest 187.8 730.1 1,303.2 2,164.3 1,324.4 1,354.6
= Total Enterprise Value (TEV) 151,534.8 185,469.4 209,891.0 171,249.3 186,198.7 244,356.4

Book Value of Common Equity 29,766.8 31,713.3 34,536.5 36,713.6 32,515.1 33,334.7
+ Pref. Equity - - - - - -
+ Total Minority Interest 187.8 730.1 1,303.2 2,164.3 1,324.4 1,354.6
+ Total Debt 13,443.6 19,922.6 26,866.9 31,477.6 34,310.1 36,730.6
= Total Capital 43,398.2 52,366.0 62,706.6 70,355.4 68,149.5 71,419.9

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H

* Pricing as of the filing date of the balance sheet period end date. For
TEV calculation purposes on this page Capital IQ only uses balance
sheet components from the original filing that is publicly available as of
a given pricing date and does not use restated balance sheet data
from a later filing. In the cases where a company did not disclose
balance sheet values for a particular period, TEV is calculated using
balance sheet components from the last reported balance sheet as of
this date. The table above is organized along period end dates.
** For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.

Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Capital Structure Summary
In Millions of INR, except ratios and % of Total values. Restatement: Latest Filings   Period Type: Annual
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)
Order: Latest on Right  

Capital Structure Data

For the Fiscal Period Ending
12 months Mar-31-2017 12 months Mar-31-2018 12 months Mar-31-2019
Currency INR INR INR
Units Millions % of Total Millions % of Total Millions % of Total

Total Debt 31,252.9 47.6% 34,310.1 50.3% 36,730.6 51.4%

Total Common Equity 33,097.5 50.4% 32,515.1 47.7% 33,334.7 46.7%
Total Preferred Equity 34.5 0.1% - - - -
Total Minority Interest 1,245.8 1.9% 1,324.4 1.9% 1,354.6 1.9%
Total Capital 65,630.7 100.0% 68,149.5 100.0% 71,419.9 100.0%

Currency INR INR INR

Exchange Rate 1.0 1.0 1.0
Conversion Method H H H

Debt Summary Data

For the Fiscal Period Ending
12 months Mar-31-2017 12 months Mar-31-2018 12 months Mar-31-2019
Currency INR INR INR
Units Millions % of Total Millions % of Total Millions % of Total

Total Revolving Credit 1,198.4 3.8% 1,336.4 3.9% 1,071.8 2.9%

Total Term Loans 22,077.8 70.6% 25,762.2 75.1% 28,476.5 77.5%
Total Senior Bonds and Notes 8,008.8 25.6% 7,007.5 20.4% 7,007.5 19.1%
Total Capital Leases 54.7 0.2% 40.6 0.1% 24.7 0.1%
General/Other Borrowings 259.6 0.8% 216.1 0.6% 163.6 0.4%
Total Principal Due 31,599.2 101.1% 34,362.7 100.2% 36,744.1 100.0%

Total Adjustments (346.3) (1.1%) (52.7) (0.2%) (13.4) (0.0%)

Total Debt Outstanding 31,252.9 100.0% 34,310.1 100.0% 36,730.6 100.0%

Available Credit
Undrawn Revolving Credit 9,048.9 - 8,635.4 - 5,058.5 -
Total Undrawn Credit 9,048.9 - 8,635.4 - 5,058.5 -

Additional Totals
Total Cash & ST Investments 3,886.3 - 3,642.1 - 3,550.4 -
Net Debt 27,366.7 - 30,668.0 - 33,180.2 -
Total Senior Debt 31,599.2 101.1% 34,362.7 100.2% 36,744.1 100.0%
Total Convertible Debt 8.8 0.0% 7.5 0.0% 7.5 0.0%
Total Short-Term Borrowings 706.9 2.3% 3,791.7 11.1% 4,981.6 13.6%
Curr. Port. of LT Debt/Cap. Leases 1,012.3 3.2% 1,236.7 3.6% 2,227.7 6.1%
Long-Term Debt (Incl. Cap. Leases) 29,533.8 94.5% 29,281.7 85.3% 29,521.3 80.4%
Total Bank Debt 23,276.2 74.5% 27,098.6 79.0% 29,548.3 80.4%
Total Secured Debt 29,625.4 94.8% 29,367.0 85.6% 31,256.4 85.1%
Senior Secured Loans 21,570.7 69.0% 22,326.4 65.1% 24,231.6 66.0%
Senior Secured Bonds and Notes 8,000.0 25.6% 7,000.0 20.4% 7,000.0 19.1%
Total Senior Secured Debt 29,625.4 94.8% 29,367.0 85.6% 31,256.4 85.1%
Total Unsecured Debt 1,973.9 6.3% 4,995.8 14.6% 5,487.7 14.9%
Senior Unsecured Bonds and Notes 8.8 0.0% 7.5 0.0% 7.5 0.0%
Fixed Rate Debt 28,479.2 91.1% 25,844.0 75.3% 26,380.4 71.8%
Variable Rate Debt 2,632.7 8.4% 4,779.1 13.9% 4,084.3 11.1%
Zero Coupon Debt 8.8 0.0% 7.5 0.0% 7.5 0.0%
Hedging Activities - - 43.7 0.1% - -

Credit Ratios
Net Debt/EBITDA 3.8x - 3.9x - 3.2x -
Total Debt/EBITDA 4.3x - 4.4x - 3.5x -
Total Senior Debt/EBITDA 4.4x - 4.4x - 3.5x -
Total Senior Secured/EBITDA 4.1x - 3.7x - 3.0x -
Net Debt/(EBITDA-CAPEX) 52.3x - 18.7x - 8.9x -
Total Debt/(EBITDA-CAPEX) 59.8x - 20.9x - 9.9x -
Total Senior Debt/(EBITDA-CAPEX) 60.4x - 20.9x - 9.9x -
Total Senior Secured/(EBITDA-CAPEX) 56.6x - 17.9x - 8.4x -

Fixed Payment Schedule

Cap. Lease Payment Due +1 14.1 - 15.9 - 17.9 -
Cap. Lease Payment Due +2 10.1 - 6.2 - 1.7 -
Cap. Lease Payment Due +3 10.1 - 6.2 - 1.7 -
Cap. Lease Payment Due +4 10.1 - 6.2 - 1.7 -
Cap. Lease Payment Due +5 10.1 - 6.2 - 1.7 -
Cap. Lease Payment Due, Next 5 Yrs 54.7 - 40.6 - 24.7 -
Cap. Lease Payment Due (incl. Interest) +1 - - - - 19.9 -

Operating Lease Commitment Due +1 299.4 - 355.6 - 363.5 -

Operating Lease Commitment Due +2 410.1 - 281.2 - 322.9 -
Operating Lease Commitment Due +3 410.1 - 281.2 - 322.9 -
Operating Lease Commitment Due +4 410.1 - 281.2 - 322.9 -
Operating Lease Commitment Due +5 410.1 - 281.2 - 322.9 -
Operating Lease Commitment Due, Next 5 Yrs 1,939.7 - 1,480.2 - 1,655.1 -
Operating Lease Commitment Due, After 5 Yrs 8,974.7 - 4,600.1 - 5,298.2 -

Contractual Obligations Due +1 5,811.1 - 14,397.9 - 17,553.2 -

Contractual Obligations Due + 2 2,658.8 - 2,394.0 - 2,367.4 -
Contractual Obligations Due + 3 2,658.8 - 2,394.0 - 2,367.4 -
Contractual Obligations Due + 4 2,658.8 - 2,394.0 - 2,367.4 -
Contractual Obligations Due + 5 2,658.8 - 2,394.0 - 2,367.4 -
Contractual Obligations Due, Next 5 Yrs 16,446.3 - 23,974.0 - 27,023.0 -
Contractual Obligations Due, After 5 Yrs 20,374.6 - 23,731.9 - 24,377.2 -
Total Contractual Obligations 36,820.9 - 47,705.9 - 51,400.2 -

Interest Rate Data

Filing Date Sep-11-2018 - Aug-30-2019 - Aug-30-2019 -

Currency INR INR INR

Exchange Rate 1.0 1.0 1.0
Conversion Method H H H
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Capital Structure Details
Principal Due in Millions of  
INR. Period Type: Annual Source: A 2019 filed Aug-30-2019
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Default)   Decimals: Capital IQ (Default)

FY 2019 (Mar-31-2019) Capital Structure As Reported Details

Coupon/Base
Description Type Principal Due (INR) Rate Floating Rate Maturity Seniority Secured
10.2% Non Convertible Bonds and Notes 2,000.0 10.200% NA Aug-22-2028 Senior Yes
Debentures
7.8% Non Convertible Bonds and Notes 2,000.0 7.800% NA Mar-07-2022 Senior Yes
Debentures
8.7% Non Convertible Bonds and Notes 3,000.0 8.700% NA Oct-07-2026 Senior Yes
Debentures
Axis Bank Cash Credit Facility Revolving Credit - 9.150% NA - Senior Yes
Borrowing - Dr GSK Velu Other Borrowings 24.2 14.000% NA - Senior No
Citi Bank - Bill Discounting Term Loans 588.2 8.000% NA - Senior No
Bank Loan
Cumulative Redeemable Other Borrowings 26.4 9.000% NA - Senior No
Preference Shares
ECB Loan - HSBC Bank Term Loans 277.3 9.500% NA Jul-01-2019 Senior Yes
ECB Loan - International Term Loans 891.8 9.200% NA - Senior Yes
Finance Corporation
Fixed Deposits Other Borrowings 13.4 8.750% - 9.250% NA Aug-01-2018 Senior No
HDFC - CC AC Facility Revolving Credit 570.8 0.000% NA Mar-31-2020 Senior Yes
HDFC Bills Payable Revolving Credit 150.2 NA NA - Senior No
HSBC - Cash Credit Facility Revolving Credit 148.0 8.750% NA - Senior No
HSBC Bills Payable Revolving Credit 131.7 NA 6-Month LIBOR + 0.550% - Senior Yes
Inter Corporate Deposit from Other Borrowings 97.2 12.000% NA - Senior No
Lavasa Corporation Limited
Loan - Axis Bank Term Loans 247.2 NA New Benchmark - Senior Yes
Loan - Axis Bank Limited Term Loans 2,925.0 8.600% NA Sep-15-2028 Senior Yes
Loan - Bank of India Term Loans 2,425.0 9.550% NA Sep-30-2028 Senior Yes
Loan - Bank of Tokyo - Term Loans 1,109.2 9.200% NA - Senior No
Mitsubishi UFJ
Loan - HDFC Bank Limited Term Loans 3,500.0 8.400% NA Mar-08-2031 Senior Yes
Loan - HDFC Bank Limited Term Loans 1,250.0 8.400% NA Mar-31-2020 Senior No
Loan - ICICI Bank Limited Term Loans 2,460.0 9.050% NA Mar-30-2031 Senior Yes
Loan - IDFC Bank Limited Term Loans 514.2 8.650% NA - Senior Yes
Loan - IDFC Infrastructure Term Loans 1,000.0 9.600% NA Dec-01-2031 Senior Yes
Finance Limited
Loan - Jugnu Jain - Director Other Borrowings 2.4 11.000% NA - Senior No
Loan - MUFG Bank Ltd. Term Loans 2,000.0 8.500% NA - Senior No
Loan - State Bank of India Term Loans 3,611.4 8.800% NA Feb-01-2029 Senior Yes
Optionally Convertible Bonds and Notes 7.5 NA NA - Senior No
Debentures
Overdraft Facility - Yes Bank Revolving Credit 71.1 9.400% NA - Senior No
Philips India Pvt Ltd - PET CT - Capital Lease 24.7 12.000% NA Dec-01-2020 Senior Yes
Finance Lease
Rupee Term Loan - HDFC Term Loans - 8.500% NA Jun-01-2018 Senior Yes
Bank Limited
Rupee Term Loan - HSBC Term Loans 1,825.0 8.300% NA 9-2-2024 - 2026 Senior Yes
Bank
Rupee Term Loans - HDFC Term Loans 144.0 10.200% NA Dec-02-2021 Senior Yes
Bank
Rupee Term Loans - Yes Bank Term Loans 148.4 9.800% NA Oct-01-2028 Senior Yes
Term Loan - Axis Bank Term Loans 820.2 8.850% NA - Senior Yes
Term Loan from HDFC Bank Term Loans 818.0 NA New Benchmark - Senior Yes
Term Loan from ICICI Bank Term Loans 354.4 NA New Benchmark - Senior Yes
Term Loan from Yes Bank Term Loans 1,283.0 NA New Benchmark - Senior Yes
Two Rupee Term Loans - Yes Term Loans 284.3 9.950% NA 12-26-2021 - 2026 Senior Yes
Bank

*Principal Due values translated into INR at an exchange rate of 1.000 INR/INR on Mar-31-2019.

FY 2018 (Mar-31-2018) Capital Structure As Reported Details

Coupon/Base
Description Type Principal Due (INR) Rate Floating Rate Maturity Seniority Secured
10.2% Non Convertible Bonds and Notes 2,000.0 10.200% NA Aug-22-2028 Senior Yes
Debentures
7.8% Non Convertible Bonds and Notes 2,000.0 7.800% NA Mar-07-2022 Senior Yes
Debentures
8.7% Non Convertible Bonds and Notes 3,000.0 8.700% NA Oct-07-2026 Senior Yes
Debentures
Axis Bank Cash Credit Facility Revolving Credit 119.1 9.150% NA - Senior Yes
Borrowing - Dr GSK Velu Other Borrowings 0.3 14.000% NA - Senior No
Citi Bank - Bill Discounting Term Loans 754.1 8.000% NA - Senior No
Bank Loan
Cumulative Redeemable Other Borrowings 19.9 9.000% NA - Senior No
Preference Shares
ECB Loan - HSBC Bank Term Loans 650.3 9.500% NA Jul-01-2019 Senior Yes
ECB Loan - International Term Loans 1,115.4 9.200% NA - Senior Yes
Finance Corporation
Fixed Deposits Other Borrowings 96.3 8.750% - 9.250% NA Aug-01-2018 Senior No
HDFC Bills Payable Revolving Credit - NA NA - Senior No
HSBC - Cash Credit Facility Revolving Credit 817.7 8.750% NA - Senior No
HSBC Bills Payable Revolving Credit 329.4 NA 6-Month LIBOR + 0.550% - Senior Yes
Inter Corporate Deposit from Other Borrowings 97.2 12.000% NA - Senior No
Lavasa Corporation Limited
Loan - Axis Bank Term Loans 248.0 NA New Benchmark - Senior Yes
Loan - Axis Bank Limited Term Loans 3,000.0 8.600% NA Sep-15-2028 Senior Yes
Loan - Bank of India Term Loans 2,500.0 9.550% NA Sep-30-2028 Senior Yes
Loan - Bank of Tokyo - Term Loans 1,300.3 9.200% NA - Senior No
Mitsubishi UFJ
Loan - HDFC Bank Limited Term Loans 3,500.0 8.400% NA Mar-08-2031 Senior Yes
Loan - HDFC Bank Limited Term Loans 1,830.0 8.400% NA Mar-31-2020 Senior No
Loan - ICICI Bank Limited Term Loans 1,450.0 9.050% NA Mar-30-2031 Senior Yes
Loan - IDFC Bank Limited Term Loans 548.5 8.650% NA - Senior Yes
Loan - IDFC Infrastructure Term Loans 1,000.0 9.600% NA Dec-01-2031 Senior Yes
Finance Limited
Loan - Jugnu Jain - Director Other Borrowings 2.4 11.000% NA - Senior No
Loan - State Bank of India Term Loans 2,050.4 8.800% NA Feb-01-2029 Senior Yes
Optionally Convertible Bonds and Notes 7.5 NA NA - Senior No
Debentures
Overdraft Facility - Yes Bank Revolving Credit 70.1 9.400% NA - Senior No
Philips India Pvt Ltd - PET CT - Capital Lease 40.6 12.000% NA Dec-01-2020 Senior Yes
Finance Lease
Rupee Term Loan - HDFC Term Loans 48.0 8.500% NA Jun-01-2018 Senior Yes
Bank Limited
Rupee Term Loan - HSBC Term Loans 1,925.0 8.300% NA 9-2-2024 - 2026 Senior Yes
Bank
Rupee Term Loans - HDFC Term Loans 216.0 10.200% NA Dec-02-2021 Senior Yes
Bank
Term Loan - Axis Bank Term Loans 919.9 8.850% NA - Senior Yes
Term Loan from HDFC Bank Term Loans 310.0 NA New Benchmark - Senior Yes
Term Loan from ICICI Bank Term Loans 210.4 NA New Benchmark - Senior Yes
Term Loan from Yes Bank Term Loans 1,851.3 NA New Benchmark - Senior Yes
Two Rupee Term Loans - Yes Term Loans 334.7 9.950% NA 12-26-2021 - 2026 Senior Yes
Bank
 Repayme
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Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Ratios
Restatement: Latest Filings   Period Type: Annual
Order: Latest on Right   Decimals: Capital IQ (Default)

Ratios
LTM
Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019 Sep-30-2019
Profitability
Return on Assets % 5.6% 3.9% 3.4% 3.3% 4.7% NA
Return on Capital % 6.9% 4.7% 4.1% 4.1% 6.0% NA
Return on Equity % 10.7% 7.1% 3.8% 1.7% 5.8% NA
Return on Common Equity % 11.1% 7.3% 6.7% 3.6% 7.2% NA

Margin Analysis
Gross Margin % 33.5% 34.4% 32.7% 32.9% 33.9% 34.0%
SG&A Margin % 6.5% 6.8% 6.3% 6.1% 5.7% 5.3%
EBITDA Margin % 14.3% 11.1% 10.0% 9.5% 10.9% 11.8%
EBITA Margin % 10.3% 7.0% 5.9% 5.4% 7.0% 8.1%
EBIT Margin % 10.2% 6.9% 5.8% 5.4% 7.0% 8.1%
Earnings from Cont. Ops Margin % 6.5% 3.8% 1.8% 0.7% 2.1% 2.4%
Net Income Margin % 6.6% 3.8% 3.0% 1.4% 2.5% 2.7%
Net Income Avail. for Common Margin % 6.6% 3.8% 3.0% 1.4% 2.5% 2.7%
Normalized Net Income Margin % 5.5% 3.1% 3.2% 2.1% 2.8% 2.9%
Levered Free Cash Flow Margin % (11.6%) (10.7%) (6.9%) 0.1% 0.6% NA
Unlevered Free Cash Flow Margin % (10.3%) (9.0%) (5.0%) 2.1% 2.5% NA

Asset Turnover
Total Asset Turnover 0.9x 0.9x 0.9x 1.0x 1.1x NA
Fixed Asset Turnover 1.6x 1.6x 1.7x 1.7x 1.8x NA
Accounts Receivable Turnover 9.2x 10.2x 10.6x 10.0x 9.7x NA
Inventory Turnover 10.9x 10.8x 11.2x 10.7x 11.1x NA

Short Term Liquidity

Current Ratio 1.8x 1.6x 2.2x 1.4x 1.2x 1.1x
Quick Ratio 1.1x 0.8x 1.2x 0.9x 0.8x 0.7x
Cash from Ops. to Curr. Liab. 0.4x 0.5x 0.6x 0.3x 0.5x 0.3x
Avg. Days Sales Out. 39.8 35.9 34.3 36.4 37.7 NA
Avg. Days Inventory Out. 33.3 33.9 32.6 34.1 33.0 NA
Avg. Days Payable Out. 38.7 42.9 38.8 35.9 37.7 NA
Avg. Cash Conversion Cycle 34.5 26.9 28.1 34.6 33.0 NA

Long Term Solvency

Total Debt/Equity 61.4% 83.2% 90.9% 101.4% 105.9% 109.9%
Total Debt/Capital 38.0% 45.4% 47.6% 50.3% 51.4% 52.4%
 LT Debt/Equity 53.3% 72.0% 85.9% 86.5% 85.1% 89.6%
LT Debt/Capital 33.0% 39.3% 45.0% 43.0% 41.3% 42.7%
Total Liabilities/Total Assets 49.9% 53.7% 57.7% 60.7% 62.2% 71.5%

EBIT / Interest Exp. 5.1x 2.7x 1.8x 1.7x 2.4x 2.2x

EBITDA / Interest Exp. 7.1x 4.2x 3.2x 3.0x 3.7x 3.2x
(EBITDA-CAPEX) / Interest Exp. NM NM 0.2x 0.6x 1.3x 1.4x
Total Debt/EBITDA 2.7x 4.1x 4.3x 4.4x 3.5x 2.9x
Net Debt/EBITDA 2.0x 3.5x 3.8x 3.9x 3.2x 2.2x
Total Debt/(EBITDA-CAPEX) NM NM 59.8x 20.9x 9.9x 6.4x
Net Debt/(EBITDA-CAPEX) NM NM 52.3x 18.7x 8.9x 5.0x

Altman Z Score 4.36 4.26 3.79 3.3 3.2 NA

Growth Over Prior Year

Total Revenue 18.1% 20.0% 16.8% 13.6% 16.7% NA
Gross Profit 27.1% 23.0% 11.0% 14.5% 19.9% NA
EBITDA 9.1% (6.9%) 5.6% 8.2% 33.8% NA
EBITA 3.3% (18.6%) (2.3%) 4.7% 51.9% NA
EBIT 3.4% (18.3%) (2.5%) 5.3% 52.5% NA
Earnings from Cont. Ops. 6.1% (29.7%) (44.3%) (54.6%) 236.1% NA
Net Income 7.3% (30.5%) (6.5%) (46.9%) 101.0% NA
Normalized Net Income 10.5% (32.9%) 22.1% (26.5%) 58.9% NA
Diluted EPS before Extra 7.3% (30.5%) (6.5%) (46.9%) 101.0% NA

Accounts Receivable 17.2% 0.1% 23.4% 18.3% 23.2% NA

Inventory 25.7% 16.0% 15.0% 21.2% 3.3% NA
Net PP&E 19.3% 18.0% 8.3% 11.7% 6.4% NA
Total Assets 20.6% 13.6% 10.3% 6.1% 6.6% NA

Tangible Book Value 6.0% 0.6% (1.4%) (2.4%) 3.1% NA

Common Equity 6.5% 5.0% (0.6%) (1.8%) 2.5% NA
Cash from Ops. 25.9% 27.1% 4.3% (13.7%) 68.5% NA
Capital Expenditures 41.9% 17.0% (33.7%) (7.7%) 9.3% NA
Levered Free Cash Flow NM NM NM NM 493.6% NA
Unlevered Free Cash Flow NM NM NM NM 38.3% NA
Dividend per Share 0.0% 4.3% 0.0% (16.7%) 20.0% NA

Compound Annual Growth Rate Over Two Years

Total Revenue 16.8% 19.1% 18.4% 15.2% 15.1% NA
Gross Profit 20.1% 25.0% 16.8% 12.8% 17.2% NA
EBITDA 7.0% 0.8% (0.9%) 6.9% 20.3% NA
EBITA 2.4% (8.3%) (10.9%) 1.1% 26.1% NA
EBIT 2.4% (8.1%) (10.7%) 1.4% 26.7% NA
Earnings from Cont. Ops. 5.2% (13.6%) (37.4%) (49.7%) 23.6% NA
Net Income 5.7% (13.6%) (19.4%) (29.5%) 3.4% NA
Normalized Net Income 5.2% (13.9%) (9.5%) (5.3%) 8.1% NA
Diluted EPS before Extra 5.7% (13.6%) (19.4%) (29.5%) 3.4% NA
 Accounts Receivable 13.5% 8.3% 11.2% 20.8% 20.7% NA
Inventory 26.6% 20.7% 15.5% 18.0% 11.9% NA
Net PP&E 17.9% 18.7% 13.0% 10.0% 9.0% NA
Total Assets 15.7% 17.0% 11.9% 8.2% 6.3% NA

Tangible Book Value 7.4% 3.3% (0.4%) (1.9%) 0.3% NA

Common Equity 7.5% 5.8% 2.2% (1.2%) 0.4% NA
Cash from Ops. 3.0% 26.5% 15.1% (5.2%) 20.6% NA
Capital Expenditures 14.7% 28.9% (11.9%) (21.8%) 0.4% NA
Levered Free Cash Flow NM NM NM NM NM NA
Unlevered Free Cash Flow NM NM NM NM NM NA
Dividend per Share 2.2% 2.2% 2.2% (8.7%) 0.0% NA

Compound Annual Growth Rate Over Three Years

Total Revenue 18.1% 17.8% 18.3% 16.8% 15.7% NA
Gross Profit 20.7% 21.0% 20.2% 16.1% 15.1% NA
EBITDA 12.5% 2.2% 2.4% 2.1% 15.2% NA
EBITA 9.8% (5.2%) (6.4%) (5.9%) 15.8% NA
EBIT 9.7% (5.0%) (6.3%) (5.7%) 16.1% NA
Earnings from Cont. Ops. 15.4% (8.1%) (25.4%) (43.8%) (5.2%) NA
Net Income 15.7% (8.1%) (11.3%) (29.8%) (0.0%) NA
Normalized Net Income 9.7% (9.4%) (3.3%) (15.6%) 12.6% NA
Diluted EPS before Extra 14.4% (8.1%) (11.3%) (29.8%) (0.0%) NA

Accounts Receivable 16.4% 8.8% 13.2% 13.5% 21.6% NA

Inventory 22.3% 22.9% 18.8% 17.3% 12.9% NA
Net PP&E 20.2% 17.9% 15.1% 12.6% 8.8% NA
Total Assets 17.4% 15.0% 14.8% 10.0% 7.7% NA

Tangible Book Value 8.1% 5.1% 1.7% (1.1%) (0.3%) NA

Common Equity 8.2% 6.6% 3.6% 0.8% 0.0% NA
Cash from Ops. 6.7% 10.5% 18.6% 4.5% 14.9% NA
Capital Expenditures 30.1% 15.4% 3.2% (10.5%) (12.6%) NA
Levered Free Cash Flow NM NM NM NM NM NA
Unlevered Free Cash Flow NM NM NM NM NM NA
Dividend per Share 12.9% 2.9% 1.4% (4.6%) 0.0% NA

Compound Annual Growth Rate Over Five Years

Total Revenue 20.6% 19.0% 18.2% 16.8% 17.0% NA
Gross Profit 24.2% 21.8% 19.1% 17.7% 19.0% NA
EBITDA 19.8% 10.2% 6.9% 4.0% 9.2% NA
EBITA 19.0% 5.7% 1.0% (2.7%) 5.5% NA
EBIT 18.7% 5.5% 1.0% (2.5%) 5.8% NA
Earnings from Cont. Ops. 20.1% 5.2% (9.7%) (27.8%) (8.7%) NA
Net Income 19.8% 5.1% 0.1% (17.3%) (5.7%) NA
Normalized Net Income 18.1% 1.9% 1.6% (7.8%) 1.1% NA
Diluted EPS before Extra 17.1% 3.3% (0.5%) (17.3%) (5.7%) NA

Accounts Receivable 22.3% 15.2% 14.3% 13.5% 16.1% NA

Inventory 19.9% 20.7% 19.5% 20.9% 16.0% NA
Net PP&E 17.8% 18.5% 17.3% 14.7% 12.6% NA
Total Assets 14.7% 15.2% 15.2% 12.2% 11.3% NA

Tangible Book Value 13.1% 10.5% 4.6% 2.2% 1.1% NA

Common Equity 13.9% 11.9% 5.7% 3.4% 2.3% NA
Cash from Ops. 18.8% 18.2% 10.0% 3.9% 19.4% NA
Capital Expenditures 17.1% 25.0% 11.3% (1.2%) 2.1% NA
Levered Free Cash Flow NM NM NM NM NM NA
Unlevered Free Cash Flow NM NM NM NM NM NA
Dividend per Share 10.4% 9.9% 8.4% (1.9%) 0.9% NA
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Supplemental
In Millions of INR, except per share items. Restatement: Latest Filings   Period Type: Annual
Currency: Indian Rupee   Conversion: Historical
Order: Latest on Right   Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default)  

Supplemental
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Currency INR INR INR INR INR INR
Stock Based Compensation
Stock Based Comp. Exp., Before Tax - - - 4.4 6.2 9.1

Loss Carry Forward Related Items

Tax Benefit C/F, After Five Years - - - - 4,450.5 4,365.6
Total Tax Benefit C/F - - - - 4,450.5 4,365.6

Capitalized Interest Data

Interest Capitalized 341.1 620.0 985.7 575.0 349.0 350.0

Fair Value Measurements

Level 1 Assets - Quoted Prices - - - 1,214.1 611.3 688.3
Level 2 Assets - Observable Prices - - - 396.1 285.9 288.2
Level 3 Assets - Unobservable Prices - - - 23.1 65.1 193.7
Fair Value of Assets - - - 1,633.3 962.2 1,170.2

Level 2 Liabilities - Observable Prices - - - 59.0 43.7 -

Fair Value of Liabilities - - - 59.0 43.7 -
Fair Value Change Included in Earnings - - 7.9 26.2 25.5 32.2

Filing Date May-28-2015 May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Industry Specific
In Millions of INR, except per share items. Restatement: Latest Filings   Period Type: Annual
Currency: Indian Rupee   Conversion: Historical
Order: Latest on Right   Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default)  

Industry Specific
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Currency INR INR INR INR INR INR
Facility Stats
Consolidated Hospitals and Facilities - - - - - 830
Non-Consolidated Hospitals and Facilities - - - - - 5
Total Hospitals and Facilities - - - - - 835
Licensed Beds 6,684 7,207 8,120 8,850 8,910 9,233
Beds in Service 5,811 6,321 6,724 6,940 7,111 7,246
Admissions 331,678 - - - - 450,000
Patient Days 1,505,990 1,567,310 1,559,892 1,620,965 1,704,550 1,802,370
Inpatient Surgeries and Procedures - - - - - 48,830
Total Surgeries and Procedures - - - - - 48,830
ER Visits 2,943,610 3,203,279 3,323,159 3,574,840 3,772,878 4,161,736
Average Daily Census 4,126.0 4,294.0 4,262.0 4,441.0 4,670.0 4,938.0
Average Length of Stay (Days) 4.5 4.4 4.2 4.0 4.0 4.0
Occupancy Rate 71.0% 68.0% 63.0% 64.0% 66.0% 68.0%

Discharges 331,678 353,547 373,851 403,483 427,661 451,894

Adjusted Discharges 459,588 498,134 511,135 553,633 605,605 647,120

Expenses as % of Revenue
Salaries and Benefits 16.5% 16.5% 16.4% 16.4% 17.0% 16.6%
Supplies 23.6% 22.4% 20.2% 18.8% 17.7% 17.1%
Provisions for Doubtful Accounts 0.5% 0.5% 0.6% 0.4% 0.7% 0.7%
Other Operating Expenses 5.5% 20.5% 35.7% 26.2% 28.2% 28.0%

Other Items
Net Patient Revenues 27,341.7 31,067.5 27,864.8 44,464.6 49,544.4 57,078.9

Operating Expense - Supplies 10,353.2 11,580.9 12,564.6 13,662.1 14,609.7 16,448.8

Filing Date May-28-2015 May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Pension/OPEB
In Millions of INR, except per share items. Restatement: Latest Filings   Period Type: Annual
Currency: Indian Rupee   Conversion: Historical
Order: Latest on Right   Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default)  

Pension/OPEB
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Currency INR INR INR INR INR INR
Pension Information - Total
Defined Benefit Net Periodic Cost
Def. Benefit Service Cost 46.4 52.8 100.7 63.2 75.5 97.4
Def. Benefit Plan Interest Cost 31.0 36.7 - 44.9 51.3 -
Def. Benefit Plan Return on Assets (25.7) (30.5) - (42.8) (43.9) -
Def. Benefit Net Interest Cost & Income - - 1.1 - - 67.6
Def. Benefit Plan Other Cost 132.8 108.0 (2.7) 2.0 12.2 7.4
Def. Benefit Plan Total Cost 184.5 167.1 99.0 67.3 95.1 172.5

Def. Contribution Plan Cost 443.2 476.4 530.3 - - 591.7

Total Pension Expense 627.7 643.4 629.3 67.3 95.1 764.2

Defined Benefit Obligation

Beg. Def. Benefit Obligation 420.6 499.7 659.9 601.9 788.3 959.0
Def. Benefit Service Cost 46.4 52.8 89.1 63.2 75.5 97.4
Def. Benefit Interest Cost 31.0 36.7 49.2 44.9 51.3 70.1
Def. Benefit Actuarial Gain/Losses 68.9 80.8 (1.4) 122.6 81.0 287.8
Def. Benefits Paid (67.1) (81.5) 65.2 (46.3) (49.4) (98.5)
Other Adj. To Def. Benefit Obligation - - - 2.0 12.2 7.4
Proj. Benefit Obligation (Pension) 499.7 588.5 862.0 788.3 959.0 1,323.3

Plan Assets
Beg. Plan Assets 326.2 315.2 482.8 491.1 601.0 743.9
Actual Return on Plan Assets (38.3) 3.2 163.8 60.4 28.3 68.1
Employer Contributions 94.3 210.2 106.1 95.8 164.0 185.6
Benefits Paid (67.1) (81.5) 24.0 (46.3) (49.4) (87.5)
Other Plan Adjustments - - (76.1) - - -
Total Plan Assets 315.2 447.1 700.6 601.0 743.9 910.1

Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 8.0% 8.0% - 6.5% 7.1% 6.6%
Exp. Long-Term Rate of Return on Assets - Max 8.0% 8.0% - 8.0% 8.0% 8.0%

Breakdown of Plan Assets

Plan Assets - Fixed Income (%) 100.0% 100.0% - - - -
Other Plan Assets (%) - - 99.4% 100.0% 100.0% 100.0%
Breakdown of Plan Assets
Plan Assets - Fixed Income 315.2 447.1 - - - -
Other Plan Assets - - 696.7 601.0 743.9 910.1

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 8.0% 8.0% - 6.5% 7.1% 6.6%
PBO Assumed Rate of Return - Max 8.0% 8.0% - 8.0% 8.0% 8.0%
Rate of PBO Compensation Increase - Min - - - 5.0% 5.0% 5.0%
Rate of PBO Compensation Increase - Max - - - 8.0% 8.0% 8.0%

Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (199.5) (169.4) (134.5) (304.1) (432.6) (708.2)

Other Compr. Income Components Recognized on the BS

Net Actuarial Loss/Gain - - - 238.5 409.6 698.7
Net Amount Recognized - - - 238.5 409.6 698.7

Consolidated Balance Sheet Amounts

Current Liabilities (184.5) - - (258.0) (370.3) (593.8)
Long Term Liabilities (15.0) (28.0) - (46.1) (62.3) (114.4)

Other Pension Related Items

Est. Contributions - Next Year - - - - 222.0 400.0
Benefit Info Date Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019

Pension Information - Domestic

Defined Benefit Net Periodic Cost
Def. Benefit Service Cost 46.4 52.8 100.7 63.2 75.5 97.4
Def. Benefit Interest Cost 31.0 36.7 - 44.9 51.3 -
Def. Benefit Return On Assets (25.7) (30.5) - (42.8) (43.9) -
Def. Benefit Net Interest Cost & Income - - 1.1 - - 67.6
Def. Benefit Other Cost 132.8 108.0 (2.7) 2.0 12.2 7.4
Def. Benefit Total Cost 184.5 167.1 99.0 67.3 95.1 172.5

Defined Benefit Obligation

Beg. Def. Benefit Obligation 420.6 499.7 659.9 601.9 788.3 959.0
Def. Benefit Service Cost 46.4 52.8 89.1 63.2 75.5 97.4
Def. Benefit Interest Cost 31.0 36.7 49.2 44.9 51.3 70.1
Def. Benefit Actuarial Gain/Losses 68.9 80.8 (1.4) 122.6 81.0 287.8
Def. Benefits Paid (67.1) (81.5) 65.2 (46.3) (49.4) (98.5)
Other Adj. To Def. Benefit Obligation - - - 2.0 12.2 7.4
Proj. Benefit Obligation (Pension) - Domestic 499.7 588.5 862.0 788.3 959.0 1,323.3

Plan Assets
Beg. Plan Assets 326.2 315.2 482.8 491.1 601.0 743.9
Actual Return on Plan Assets (38.3) 3.2 163.8 60.4 28.3 68.1
Employer Contributions 94.3 210.2 106.1 95.8 164.0 185.6
Benefits Paid (67.1) (81.5) 24.0 (46.3) (49.4) (87.5)
Other Plan Adjustments - - (76.1) - - -
Total Plan Assets 315.2 447.1 700.6 601.0 743.9 910.1

Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 8.0% 8.0% 7.3% 6.5% 7.1% 6.6%
Exp. Long-Term Rate of Return on Assets - Max 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%

Breakdown of Plan Assets

Plan Assets - Fixed Income (%) 100.0% 100.0% - - - -
Other Plan Assets (%) - - 99.4% 100.0% 100.0% 100.0%

Breakdown of Plan Assets

Plan Assets - Fixed Income 315.2 447.1 - - - -
Other Plan Assets - - 696.7 601.0 743.9 910.1

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 8.0% 8.0% 7.3% 6.5% 7.1% 6.6%
PBO Assumed Rate of Return - Max 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%
Rate of PBO Compensation Increase - Min 6.0% 6.0% 5.0% 5.0% 5.0% 5.0%
Rate of PBO Compensation Increase - Max 6.0% 6.0% 9.0% 8.0% 8.0% 8.0%

Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (199.5) (169.4) (134.5) (304.1) (432.6) (708.2)

Other Compr. Income Components Recognized on the BS

Net Actuarial Loss/Gain - - - 238.5 409.6 698.7
Net Amount Recognized - - - 238.5 409.6 698.7

Consolidated Balance Sheet Amounts

Current Liabilities (184.5) - - (258.0) (370.3) (593.8)
Long Term Liabilities (15.0) (28.0) - (46.1) (62.3) (114.4)

Other Pension Related Items

Est. Contributions - Next Year - - - - 222.0 400.0
Benefit Info Date Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) > Financials > Segments
In Millions of INR. View By: Line Items   Restatement: Latest Filings
Period Type: Annual   Order: Latest on Right
Currency: Indian Rupee   Conversion: Historical
Units: S&P Capital IQ (Defaul   Decimals: Capital IQ (Default)

Business Segments
Restated Reclassified Restated Restated Reclassified
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Currency INR INR INR INR INR INR
Revenues
Healthcare 29,594.3 33,330.7 36,998.1 40,819.2 45,246.5 51,618.5
Retail Pharmacy 13,648.4 17,725.5 23,219.7 27,851.9 32,688.8 38,860.4
Clinics - - 521.6 3,854.1 4,589.2 5,887.5
Others 846.4 1,132.2 1,893.7 298.2 69.9 39.7
Inter Segment Revenue - - (36.3) (41.5) (159.8) (231.6)
Corporate (32.3) (36.3) - - - -
Total Revenues 44,056.9 52,152.1 62,596.8 72,782.0 82,434.7 96,174.4

Operating Profit Before Tax

Healthcare 5,090.2 5,067.7 5,416.8 4,976.9 5,192.8 6,197.7
Retail Pharmacy 306.0 389.8 560.1 976.6 1,173.8 1,681.7
Clinics - - (1,449.6) (1,841.8) (1,925.4) (1,149.0)
Others 228.6 502.2 524.9 258.7 (99.7) (49.0)
Total Operating Profit Before Tax 5,624.9 5,959.7 5,052.1 4,370.4 4,341.5 6,681.4

Assets
Healthcare 41,963.3 50,513.2 55,313.0 61,433.1 65,393.9 67,823.7
Retail Pharmacy 3,842.0 5,967.0 6,936.2 7,691.2 9,372.4 11,233.5
Clinics - - 4,795.8 5,681.7 5,058.1 4,580.5
Others 3,715.9 3,609.5 3,580.0 4,886.2 645.4 505.3
Unallocated - - - 1,500.7 5,658.1 7,687.7
Unallocated Corporate Assets - - 897.1 - - -
Unallocated Goodwill - - 2,075.9 - - -
Corporate 4,203.5 4,704.8 - - - -
Total Assets 53,724.8 64,794.4 73,598.0 81,192.9 86,127.9 91,830.7

Depreciation & Amortization

Healthcare 1,564.6 1,917.1 2,044.8 - - -
Retail Pharmacy 106.0 191.0 243.4 - - -
Clinics - - 347.9 - - -
Others 7.3 8.4 2.4 - - -
Total Depreciation & Amortization 1,677.9 2,116.5 2,638.3 - - -

Capital Expenditure
Healthcare (5,200.8) (7,996.0) (8,522.8) - - -
Retail Pharmacy (234.0) (310.0) (1,501.6) - - -
Clinics - - (1,215.1) - - -
Others (15.9) (10.3) (12.1) - - -
Total Capital Expenditure (5,450.7) (8,316.2) (11,251.5) - - -

Filing Date May-28-2015 May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H

Geographic Segments
Restated Reclassified Restated Restated Reclassified
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017 Mar-31-2018 Mar-31-2019
Currency INR INR INR INR INR INR
Revenues
India 43,842.2 51,784.5 62,146.5 72,557.0 82,434.7 96,174.4
Total Revenues 43,842.2 51,784.5 62,146.5 72,557.0 82,434.7 96,174.4

Interest Expense
India (1,074.4) (1,033.6) (1,621.9) (2,284.3) (2,592.1) (2,837.0)
Total Interest Expense (1,074.4) (1,033.6) (1,621.9) (2,284.3) (2,592.1) (2,837.0)

Net Profit Before Tax

India 4,067.1 4,554.1 3,321.2 2,220.8 1,714.6 3,735.4
Total Net Profit Before Tax 4,067.1 4,554.1 3,321.2 2,220.8 1,714.6 3,735.4

Tax Expense
India 1,017.6 1,300.0 969.0 909.6 1,119.1 1,733.7
Total Tax Expense 1,017.6 1,300.0 969.0 909.6 1,119.1 1,733.7

Net Profit After Tax

India 3,167.5 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5
Total Net Profit After Tax 3,167.5 3,399.0 2,363.8 2,209.9 1,174.2 2,360.5

Assets
India 53,724.8 64,794.4 73,598.0 81,192.9 86,127.9 91,830.7
Total Assets 53,724.8 64,794.4 73,598.0 81,192.9 86,127.9 91,830.7

Depreciation & Amortization

India 1,670.8 2,116.5 2,572.1 3,060.0 3,433.0 3,766.4
Total Depreciation & Amortization 1,670.8 2,116.5 2,572.1 3,060.0 3,433.0 3,766.4

Capital Expenditure
India (6,118.9) (8,680.6) (10,159.0) (6,734.5) (6,213.9) (6,789.2)
 Total Capital Expenditure (6,118.9) (8,680.6) (10,159.0) (6,734.5) (6,213.9) (6,789.2)

Filing Date May-28-2015 May-25-2016 Sep-22-2017 Sep-11-2018 Aug-30-2019 Aug-30-2019

Currency INR INR INR INR INR INR

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H