Stock Report

HealthCare Global Enterprises Limited - Q2FY22 Updates

Posted On : 2021-10-12 23:03:23( TIMEZONE : IST )

HealthCare Global Enterprises Limited has announced updates, for the quarter ended September 30, 2021:

1. Post second wave, the Company's operations have returned to regular levels. Our oncology business has grown significantly, showing record revenues on a month on month basis, and we see the growth sustaining in the foreseeable future, as well.

2. The Company's regular revenue stream has achieved an all-time high. (i.e., excluding Covid revenue and vaccination revenue).

3. The Company continues to generate consistent cash flows led by improved business performance and effective capital allocation.

4. The Company acquired oncology hospital labs and clinical trials business from Strand Life Sciences Private Limited ("Strands") for a consideration of INR 808.0 million, and has completed the divestment of its 38.5% stake in Strands for a consideration of INR 1,577.8 million.

5. The Company would receive ~INR 1,300 Million in aggregate, upon conversion of warrants to equity by Aceso Company Pte. Ltd., pursuant to the Investment Agreement executed on June 04, 2020; and by Dr. B.S. Ajaikumar, promoter, before the end of the current fiscal year.

6. ICRA has upgraded the credit rating of the Company to A plus (stable) from A negative (stable).

Shares of Healthcare Global Enterprises Limited was last trading in BSE at Rs. 242.90 as compared to the previous close of Rs. 244.15. The total number of shares traded during the day was 5569 in over 581 trades.

The stock hit an intraday high of Rs. 265.00 and intraday low of 240.40. The net turnover during the day was Rs. 1354360.00.