- CA Akash Garg Proprietor of AG Analyst Reg. no: INH000011501
- 9729953675
Strong Leader in North India
Park Medi World is the 2nd biggest private hospital chain in North India and the largest in Haryana with 3000+ beds.
Growing and Trusted Hospital Network
They run 14 multi-speciality hospitals, and all are NABH accredited, meaning they follow good quality and safety standards.
Strong Financial Growth
Revenue and profit increasing every year
Good EBITDA margin (~26%)
Return on Net Worth (20%) — better than many listed competitors
High Bed Occupancy
Occupancy around 68%, showing strong demand and efficient operations.
Reasonable IPO Valuation
P/E around 25–29x, which is cheaper compared to most hospital stocks like Apollo, Max, Fortis, Medanta etc.
IPO Money Used to Reduce Debt
Company is using fresh issue money to pay off debt — this makes balance sheet stronger.
Healthcare Sector Growth
Demand for hospitals is rising in India due to more insurance users, lifestyle diseases, ageing population — this benefits the company.
Too Much Dependence on Haryana
More than 70% of revenue comes from one state. Any issue in Haryana can hit the business badly.
Lower Revenue per Bed (ARPOB)
Compared to premium chains like Apollo or Max, Park earns less per patient.
Higher Patient Stay (ALOS)
Patients stay longer than other hospital chains. This reduces how many new patients they can take.
High Doctor Attrition
Doctor leaving rate is high. This can affect service quality and long-term patient trust.
Expansion Risk
Company is rapidly expanding. If not managed properly, margins and debt levels can become a problem.
Not a Pan-India Brand
Strong only in North India. National reach is much smaller than Apollo, Fortis, Max, NH etc.
Margins Slightly Declining
EBITDA margin has dipped a bit — needs close monitoring.
| Company | Position | How It Compares to Park |
|---|---|---|
| Apollo Hospitals | Largest hospital chain in India | Much bigger brand, higher revenue per patient. Park is regional + mid-market. |
| Max Healthcare | NCR-based premium chain | Direct competitor in some regions; Max more premium, Park more affordable. |
| Fortis Healthcare | Strong in NCR & metro cities | Fortis handles more complex cases; Park handles more mid-income patients. |
| Medanta (Global Health) | Super-speciality focused | Higher ARPOB; Park wins on occupancy but earns less per patient. |
| Narayana Hrudayalaya (NH) | Efficiency-focused, South-based | Park’s RoNW (20%) is similar to NH, which is impressive. |
| KIMS / Jupiter | Strong regional players | Park is similar — a strong regional player (North India). |
| Metric | Park Medi World | Competitors |
|---|---|---|
| RoNW | ~20% | Higher than most peers (who are 11–18%) |
| EBITDA Margin | ~26% | Similar or slightly better than many |
| P/E (Valuation) | 25–29x | Peers are mostly 45–80x+, so Park is cheaper |
| Occupancy | 68% | Higher than many competitors |
| ARPOB | Low–Mid | Competitors like Apollo, Max, Medanta have much higher ARPOB |
Strength: High occupancy, good returns, cheaper valuation
Weakness: Lower premium pricing, smaller brand reach
Category: Strong regional hospital operator, not yet a national hospital brand
Registered Address:
Hno. 414, Ward No. 15 , Moti
Colony , Near 999 Mobile Shop, Faridabad, Palwal, Haryana -121102
Tel: +91 9729953675 | Email: caakashgarg97@gmail.com
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Email: caakashgarg97@gmail.com
Tel: +91 9729953675
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