APOLLO HOSPITALS 2024-25 Annual Report Analysis

Fri, 8 Aug

APOLLO HOSPITALS has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

APOLLO HOSPITALS Income Statement Analysis

• Operating income during the year rose 14.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 26.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.0% in FY25 as against 12.6% in FY24.
• Depreciation charges increased by 10.3% and finance costs increased by 2.0% YoY, respectively.
• Other income grew by 88.4% YoY.
• Net profit for the year grew by 61.0% YoY.
• Net profit margins during the year grew from 4.9% in FY24 to 6.9% in FY25.

APOLLO HOSPITALS Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	190,592	217,940	14.3%
Other income	Rs m	1,063	2,003	88.4%
Total Revenues	Rs m	191,655	219,943	14.8%
Gross profit	Rs m	24,106	30,548	26.7%
Depreciation	Rs m	6,870	7,575	10.3%
Interest	Rs m	4,494	4,585	2.0%
Profit before tax	Rs m	13,805	20,391	47.7%
Tax	Rs m	4,455	5,340	19.9%
Profit after tax	Rs m	9,350	15,051	61.0%
Gross profit margin	%	12.6	14.0
Effective tax rate	%	32.3	26.2
Net profit margin	%	4.9	6.9

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APOLLO HOSPITALS Balance Sheet Analysis

• The company's current liabilities during FY25 down at Rs 46 billion as compared to Rs 47 billion in FY24, thereby witnessing an decrease of -1.8%.
• Long-term debt stood at Rs 44 billion as compared to Rs 22 billion during FY24, a growth of 97.6%.
• Current assets rose 33% and stood at Rs 70 billion, while fixed assets rose 19% and stood at Rs 140 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 210 billion as against Rs 170 billion during FY24, thereby witnessing a growth of 23%.

APOLLO HOSPITALS Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	67,630	79,272	17.2
Current Liabilities	Rs m	46,645	45,794	-1.8
Long-term Debt	Rs m	22,356	44,170	97.6
Total Liabilities	Rs m	170,189	210,106	23.5
Current assets	Rs m	52,797	70,294	33.1
Fixed Assets	Rs m	117,392	139,812	19.1
Total Assets	Rs m	170,189	210,106	23.5

APOLLO HOSPITALS Cash Flow Statement Analysis

• APOLLO HOSPITALS's cash flow from operating activities (CFO) during FY25 stood at Rs 21 billion, an improvement of 11.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -34 billion, an improvement of 119.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs 13 billion, an improvement of 523% on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs 726 million from the Rs 720 million net cash flows seen during FY24.

APOLLO HOSPITALS Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	19,202	21,364	11.3%
Cash Flow from Investing Activities	Rs m	-15,372	-33,806	-
Cash Flow from Financing Activities	Rs m	-3,111	13,168	-
Net Cash Flow	Rs m	720	726	0.8%

Current Valuations for APOLLO HOSPITALS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 104.7, an improvement from the EPS of Rs 65.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 7,105.0, stands at 69.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 12.9 times, while the price to sales ratio stands at 4.7 times.
• The company's price to cash flow (P/CF) ratio stood at 42.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	1,325.6	1,515.8
TTM Earnings per share	Rs	65.0	104.7
Diluted earnings per share	Rs	65.0	104.7
Price to Cash Flow	x	56.3	42.1
TTM P/E ratio	x	99.6	69.4
Price / Book Value ratio	x	11.7	12.0
Market Cap	Rs m	793,785	951,560
Dividends per share (Unadj.)	Rs	16.0	19.0

Ratio Analysis for APOLLO HOSPITALS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.5x during FY25, from 1.1x during FY24. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 5.4x during FY25, from 4.1x during FY24. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 19.0% during FY25, from 13.8% during FY25. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 20.2% during FY25, from 20.3% during FY24. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company improved and stood at 9.3% during FY25, from 8.1% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	1.1	1.5
Debtors’ Days	Days	48	51
Interest coverage	x	4.1	5.4
Debt to equity ratio	x	0.3	0.6
Return on assets	%	8.1	9.3
Return on equity	%	13.8	19.0
Return on capital employed	%	20.3	20.2

To see how APOLLO HOSPITALS has performed over the last 5 years, please visit here.

APOLLO HOSPITALS Share Price Performance

Over the last one year, APOLLO HOSPITALS share price has moved up from Rs 6,529.6 to Rs 7,105.0, registering a gain of Rs 575.5 or around 8.8%.

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for APOLLO HOSPITALS and quarterly results for APOLLO HOSPITALS)