Sangani Hospitals Limited IPO

Apply 0
Avoid 0

i. Sangani Hospitals is a multi-speciality healthcare provider operating in Keshod and Veraval region of Gujarat with a combined bed capacity of 68 beds. The services primarily include super speciality services, speciality services and other support services. We also operate pathology laboratory and medical store. Currently, they operate out of two hospitals i.e. Sangani Hospital at Keshod, Junagadh, Gujarat and Sangani Super Speciality Hospital, Veraval, Gujarat.

ii. Sangani Hospital is 36 beds multi-speciality hospital with primary, secondary and tertiary care facilities. It is strategically located near Keshod bus stand and railway station making it accessible to fifty-four adjacent small villages. Sangani Super Speciality Hospital is 32 beds multi-speciality hospital with significant focus on tertiary care facilities.

iii. Both the hospitals offer a comprehensive range of healthcare services in specialties and super specialties, including cardiac sciences, neurosciences, orthopaedics, renal sciences and mother & childcare. They have provided dialysis facility to more than 600 patients and more than 6,000 sessions annually free of cost under the Mukhyamantri Amrutum Yojana (MAA Yojana) and Pradhan Mantri Jan Arogya Yojana (PMJAY). Their team of qualified medical practitioners are trained to handle all kinds of emergencies and ensures that patients get quality healthcare services. Their healthcare staff comprises of Clinical Pharmacist, Microbiologist (DMLT), Medical Officers, Clinical Assistants, Nursing staff, Attendants and Technicians. We strive to deliver advanced healthcare while providing affordable medical services to our patients.

iv. The company is being promoted by Dr. Ajaykumar Sangani who is MBBS, DLO & MS (E.N.T.), Dr. Rajeshkumar Sangani who is MBBS & MD (Physician), Kamalkumar Sangani and Dr. Vaishali Sangani who is MBBS & MD (Obstetrics & Gynaecology).

v. Their hospitals have been certified with for Quality Management System for the scope of services that includes MD-ICU, ICCU, ECHO-TMT, Dialysis, Orthopaedic Department, PFT, EECP, Diabetic, Clinic, ENT- EAR, NOSE, Throat Head & Neck Surgery, Laser Surgery, Trauma Unit, Endoscopy, Audiology, Vertigo Clinic, OBST & Gynee-USG-Doppler, Normal Delivery, Joint Replacement Facility, Gynec Surgery, Infertility Clinic, Radiology Unit – Xray, Sonography, CT Scan, General Surgery, all type of general surgery, Dental Surgery, Uro Surgery and hospital services

vi. Further, the Sangani Super Speciality Hospital at Veraval is certified with National Accreditation Board for Hospitals & Healthcare Providers (“NABH”) certification for general medicine, general surgery, orthopaedic surgery (including arthroscopy), urology, 2D Echo, X-Ray, clinical bio-chemistry, clinical pathology, haematology and pharmacy.

Competitive strengths

i. ‘Doctor-led’ hospitals driven by skilled and experienced doctors in the healthcare space.
ii. Focus on under-served areas with dense population.
iii. Growth opportunities in existing facilities and diversification into new services.

Objects of the Sangani Hospitals Limited IPO:

The company intends to utilize the proceeds of the issue to meet the following objectives: i. To carry out the capital expenditure for expansion in Sangani Hospital at Keshod, Gujarat ii. To carry out the capital expenditure for expansion in Sangani Super Speciality Hospital at Veraval, Gujarat iii. General corporate purposes
DRHP of Sangani Hospitals Limited IPO
RHP of Sangani Hospitals Limited IPO

Sangani Hospitals Limited IPO Details:

Open Date: Aug 04 2023
Close Date: Aug 08 2023
Total Shares: 3,792,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 15.17 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 37-40 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 17 2023

Promoters And Management:

i. Dr. Ajaykumar Sangani, aged 48 years, is the Promoter and Managing Director of the Company. He has been associated with the company since incorporation. He has been re-designated as Managing Director of the company from April 06, 2023. He holds an MBBS degree from Gujarat University, as well as a D.L.O. degree and an M.S. degree in Otorhinolaryngology, also from Gujarat University. He has been practicing as an E.N.T. Specialist for more than 20 years and he is one of the pioneers of the Sangani Hospital at Keshod and Sangani Super Specialty Hospital at Veraval. His two outstanding surgeries of Cholesteatoma in the ears with complications on a 5-yr old child and life-saving surgery, Tracheostomy performed on a new born has featured in T.V. channel of Gujarat. He is an enthusiastic participant in medical camps and public awareness campaigns. He is life member of Indian Medical Association of Gujarat and Delhi. ii. Dr. Rajeshkumar Sangani aged 45 years is the Promoter, Chairman and Whole Time Director of the Company. He has been associated with the company since its inception. He has been re-appointed as a Whole time Director w.e.f. April 06, 2023. He is a qualified M.B.B.S. and Doctor of Medicine (General Medicine and Therapeutics). He is a certified expert in the Management of Stroke, having completed a program from the Harvard Medical School. His practice comprises over 17 years as a Physician & Cardiologist Specialist in Sangani Hospital at Keshod and Sangani Super Specialty Hospital at Veraval. During the Covid-19 Pandemic, he had received recognition for his assistance as physician at Keshod Covid Care Center. He holds a certification from the LIMCA book for prescriptions for Diabetes. iii. Kamalkumar Sangani aged 40 years is the Promoter and Whole Time Director of the Company. He has been associated with the company since incorporation. He has been re-designated as Whole Time Director of the company w.e.f. April 06, 2023. He holds a Bachelor’s degree in Computer Application and Diploma in Pharmacy from Saurashtra University. He had a proprietorship firm since 2010 which was engaged in the business of pharmacy. He manages the pharmacy and laboratory department of both the hospitals.

Financials of Sangani Hospitals Limited IPO:

P&L Statement
Particulars (in Lakhs) 2023 2022 2021
Revenue From Operations 1,567 1,028 497
Purchase of Stock-In-Trade 595 340 163
Change in Inventories 30 -32 0
Employees Benefit Expenses 316 139 79
Other Expenses 321 275 135
EBITDA 305 306 120
OPM 19.46% 29.77% 24.14%
Other Income 9 1 1
Depreciation 110 8 8
Finance Cost 3 4 8
PBT 201 295 105
Tax 53 75 26
PAT 148 220 79
NPM 9.39% 21.38% 15.86%
Shares 137.76 137.76 137.76
EPS 1.07 1.60 0.57

Comparison With Peers:

Name of the Companies Revenue (Cr) Profit (Cr) EPS P/E CMP MCap
Sangani Hospital Limited 16 1.48 1.07 37.38 40 55
Artemis Medicare Services Limited 714 40 2.9 45.5 130 1,765
Lotus Eye Hospital And Institute Ltd 46 4 1.9 53.3 105 218
*All the Data as per FY23

Recommendation on Sangani Hospitals Limited IPO:

As not able to find below operational parameters in the DRHP of Sangani Hospitals SME IPO, so no review and analysis has been done. No. of Beds Bed Occupancy Rate Avg. Revenue per bed In-Patient Revenue Out-Patient Revenue Sale of Pharma Products

Lead Manager of Sangani Hospitals Limited IPO:

  1. Unistone Capital

Registrar of Sangani Hospitals Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Sangani Hospitals Limited Sainath Society, Opp. S. T., KSD T, Village - Keshod, Taluka - Keshod, Junagadh – 362220 Phone: 02871-23 5900 Email: cs@sanganihospitals.com Website: http://www.sanganihospitals.com/

Discussion on Sangani Hospitals Limited IPO:

Leave a Reply