Metropolis Healthcare Ltd (referred to as the “Company”; NSE: METROPOLIS |BSE: 542650) a leading diagnostic service provider announces their financial results for the financial year 2018-19.
Key performance highlights: FY 2018-19 vs. FY 2017-18 Consolidated revenue growth of 18.1% in FY19 EBIDTA before CSR and one-time share-based and other expenses @ INR 2073 million in FY19
PAT before CSR and one-time share-based and other expenses @ INR 1308 million in FY19 Earnings per Share: INR 24.06
Key Growth Parameters: During the year, Metropolis witnessed robust
operating and financial performance with good revenue growth maintaining
overall margin and faster than industry benchmarks. One of the key growth
parameters is a 15.5% growth in number of patient visits with increase in
revenue per patient (5.4%) and revenue per test (8.5%).
closer to the Patient
FY’19 continued to be a year of aggressive network expansion for the company.
Its laboratory network grew to 119 from 106 in FY2018, majority through
asset-light ‘Lab on Lease model.
Its patient service network of
owned PSCs (Patient Service Centers), ARCs (Assisted Referral Centers) and third
party PSCs grew 5.5x times between FY16-19 of which 79% were added in the last
two years (40% growth in FY19). As this young network matures, it is expected
to contribute to rapid short and midterm future growth.
Commenting on the annual results, Ms
Ameera Shah, Managing Director of Metropolis Healthcare Ltd said “I am happy
to share the first financial performance of our company as a listed entity. FY19
has ended on a positive note for us as the company delivered a healthy topline.
We expect short and midterm future growth owing to fast paced network expansion
and execution. We will further strengthen our efforts towards differentiating
our superior customer experience, delivering quality results and improving our
We will continue to increase our retail contribution in Focus Cities and impact the lives of Indians while assisting them with quality results for routine and specialized tests. We will walk the extra mile for our patients who trust us during their most anxious moments during illnesses.”
New wellness initiatives: In Feb 2019, the company also launched its wellness initiative ‘Truhealth’ across 36 cities which will help bolster its position in the fast-growing wellness segment. Truhealth comprises of mass awareness on the need of preventive healthcare and promotion of customized wellness packages. Customers today are serious about wellness and choose to undergo preventive screening to safeguard their health and diagnose conditions before they turn in to complications. This segment of the industry is termed as wellness as opposed to illness wherein a patient has to undergo tests basis a prescription. *The overall market for wellness and preventive diagnostics was 7 to 9% in the financial year 2018. It is expected that this segment will grow at a CAGR of approximately 20% over the next three financial years. (*Frost & Sullivan)
Revealing Inner Health: In FY19, the company also launched over 24
super specialized tests in the area of cancer diagnosis, genetic disorders,
neurological conditions and infectious diseases.
Obsessive focus on customer experience: Owing to its intense focus
on customer experience and satisfaction, the company consistently maintained a
net promoter score of 85 across the group in FY19. Net promoter score is a
management tool that helps establish brand affinity and loyalty. The company
has been consistent in its NPS performance owing to its brand equity built on
trust and quality, years of experience and other service differentiators.
Expert Team of doctors & Scientific Team: As of Mar 2019, the
company’s core scientific team constituted 201 doctors & pathologists and
2,236 scientific officers and phlebotomists. The company’s academic team
published 11 scientific papers in National and International Indexed Journals.
Investments in Information Technology: The Company upgraded its
core IT Infrastructure to improve business revenue generation capabilities,
cost optimization, operational efficiencies and customer experience.
Nurturing Medical Talent: In addition, the company also conducted
its first MEDENGAGE Scholarship Summit in Dec 2018 which is a program that nurtures
medical talent and conducts multiple academic initiatives throughout the year; thus
establishing Metropolis in the minds of younger generation of doctors.
plate: Metropolis Healthcare Ltd is a
leading diagnostics company in India (by revenue, as of March 31, 2018)
(Source: Frost & Sullivan) with a widespread presence across 19 states in
India. Metropolis touches millions of lives each year by providing actionable
health insights to patients and doctors. Metropolis offers a comprehensive
range of 3,487 clinical laboratory tests and 530 profiles that includes
advanced tests in diagnosis of cancer, neurological disorders, infectious
diseases and an array of genetic abnormalities. Metropolis’ commitment to
quality and accuracy in each and every test is reinforced by its consistent CAP
proficiency score of more than 98% over the past decade; which places it
amongst the top 1% laboratories worldwide for quality assurance. Metropolis
philosophy rests on the pillars of technological superiority, a warm patient
centric approach and reliable diagnostic reports.