Fortis Healthcare Ltd

ESG rating details

• ESG rating for FY2025-26 assigned by Crisil ESG Ratings & Analytics Ltd, a SEBI-registered provider.
• Ratings: Crisil ESG 66 and Crisil Core ESG 72.
• Rating category: Strong.
• Note: Company did not engage agency; rating based on disclosures and public data.
• Intimation uploaded on Fortis website.
• Date/time of event: 24 August 2026 09:54 IST.

Financial Performance

• Consolidated Q1 FY27 revenue: INR 2,545 crores, up 17.5% YoY.
• Hospital revenue: INR 2,187 crores, up 19%.
• Diagnostics gross revenue: INR 407 crores, up 10.2%.
• Consolidated EBITDA pre-ESOP: INR 568 crores, margin 22.3%.
• Hospital EBITDA: INR 471 crores, margin 21.5%.
• Diagnostic EBITDA margin: 23.9%.
• PAT after exceptional items up ~4% to INR 263 crores.
• Net debt: INR 2,233 crores; net debt/EBITDA 1.01x at Jun 30, 2026.
• International revenue: INR 174 crores; 8% of revenue; up 13.3% YoY.

Operating Update

• Hospital occupancy 69%; beds occupied 3,418 vs 2,928 a year ago.
• ARPOB up 2.6% to INR 2.71 crores per annum.
• 14 facilities with EBITDA above 20%, contributing 70% of hospital revenues.
• 100 beds added via brownfield expansions; Noida, Amritsar, and Jalandhar.
• FMRI expansion adds 200 beds after occupancy certificate.
• O&M agreement for 300-bed greenfield hospital in Cuttack; Odisha entry.
• Proton therapy facility approved for Gurgaon.
• Da Vinci Xi robots installed at Faridabad and Okhla; Ortho robots at Jalandhar and Faridabad.
• Gleneagles O&M fee: 3% of revenue; about INR 6 crores this quarter.
• Diagnostics touchpoints reached 4,493 as of June 30, 2026.
• B2C:B2B mix improved to 53:47 in Q1 FY27.
• Preventive portfolio share rose to 14%; specialized to 35%.

Diagnostics & Technology

• Exome sequencing milestone: over 1,000 whole exome sequencing tests on NovaSeq X.
• International expansion and genomics focus underpin long-term precision diagnostics growth.

Capex & Projects

• Proton therapy capex around INR 252 crores.
• Odisha entry: O&M hospital; no capital expenditure.
• 2,000-bed expansion planned; growth capex around 50% of EBITDA.
• Inorganic deals actively pursued within focus clusters.

Guidance & Outlook

• Diagnostics revenue growth expected around 12–13%; EBITDA margin 24–25%.
• Hospital EBITDA margin target: 25% after ESOP costs.
• ESOP charges: around INR 40 crores per quarter in year 2; around INR 30 crores in year 3.
• Inorganic opportunities to be pursued within clusters; Odisha O&M remains capex-light.

Q&A Highlights

• ESOP beneficiaries include doctors and senior staff; about 55–60% are doctors/admin.
• Beds: 100 operational in Q1; 400 more planned; FMRI adds 200 beds after occupancy.
• Odisha O&M: no capex; cluster-based expansion remains the approach.
• Oncology margins affected by CGHS/ECHS chemo discounts; volumes expected to recover.
• Gleneagles management fee: 3% of revenue; INR 6 crores in the quarter.
• Inorganic deals are being pursued; disclosures pending.

AGM Details

• 30th AGM held on 11 Aug 2026 at 12:00 Noon via VC/OAVM.
• Deemed venue: Registered Office; record date: 04 Aug 2026.
• Meeting duration: 12:00–12:45 PM.
• Remote e-voting Aug 6–10, 2026; AGM e-voting open 30 minutes after conclusion.
• Record date: 04 Aug 2026; 224,296 shareholders on record.

Key Resolutions

• Resolution 1: Adopt Audited Financial Statements for FY ended Mar 31, 2026.
• Resolution 2: Declare final dividend of Rs 1 per equity share.
• Resolution 3: Re-appoint Ashok Pandit by rotation.
• Resolution 4: Re-appoint Dr Prem Kumar Nair by rotation.
• Resolution 5: Ratify remuneration to Cost Auditors for FY 2026.
• Resolution 6: Approve payment of commission to Independent Directors for 2027–2030.
• Resolution 7: Approve Independent Director remuneration for Leo Puri exceeding 50% of total ND remuneration.
• Resolution 8: Re-appoint Dr Ashutosh Raghuvanshi as MD & CEO for 2 years.

Voting Results

• Resolution 1 passed: 99.14% in favour, 0.86% against.
• Resolution 2 passed: 99.999% in favour, 0.001% against.
• Resolution 3 passed: 98.20% in favour, 1.80% against.
• Resolution 4 passed: 98.91% in favour, 1.09% against.
• Resolution 5 passed: 99.999% in favour, 0.0007% against.
• Resolution 6 passed: 97.45% in favour, 2.55% against.
• Resolution 7 passed: 97.45% in favour, 2.55% against.
• Resolution 8 passed: 98.94% in favour, 1.06% against.

Dividend

• Final dividend of Rs 1 per equity share approved.

Directors & Management Changes

• Ashok Pandit re-appointed by rotation.
• Dr Prem Kumar Nair re-appointed by rotation.
• Dr Ashutosh Raghuvanshi re-appointed as MD & CEO for two years from 19 Mar 2027.

Auditors

• Cost Auditors' remuneration ratified for FY 2026.

Material Related Party Transactions

• No material related party transactions disclosed for approval at the AGM.

AGM Details

• Date and time: 11 August 2026, 12:00 IST; mode: VC/OAVM.
• Remote e-voting: 6–10 August; on-site voting available at AGM.
• Quorum confirmed; meeting chaired by the Chairman with committee chairs present.
• Results of voting to be announced by 13 August 2026.

Ordinary Business

• Adopt audited standalone and consolidated financial statements.
• Declare final dividend per equity share.
• Re-appoint Ashok Pandit as director, retiring by rotation.
• Re-appoint Prem Kumar Nair as director, retiring by rotation.

Special Business

• Ratify remuneration to Cost Auditors for FY.
• Approve payment of commission to Independent Directors for three years.
• Remuneration for Independent Director Leo Puri above 50% of total NED remuneration.
• Re-appoint Ashutosh Raghuvanshi as MD & CEO for two years.

Voting Status

• Outcomes not disclosed in filing; results expected by Aug 13, 2026.

Meeting Details

• Date and time: Friday, August 07, 2026, 12:00 PM IST.
• Type: investors/analysts group meeting.
• Recording: audio recording available on Fortis website.

Participants

• Key company participants: not disclosed in filing.

Purpose

• Discuss unaudited standalone and consolidated Q1 FY27 results (quarter ended June 30, 2026).

Business Overview

• Fortis operates hospital and diagnostic services with international revenues.
• Strategic initiatives include robotics adoption and new clinical excellence centers.

Operational Highlights

• Q1FY27 hospital revenue rose 19% YoY to ₹2,187 Cr.
• Hospital EBITDA was ₹471 Cr with 21.5% margin.
• Diagnostics revenue rose 10.2% to ₹407 Cr; EBITDA margin 23.9%.
• Digital channels grew 18.2% YoY, contributing 29.2% of hospital revenue.
• International patient revenues up 13% to ₹174 Cr.
• Occupancy at 68.7%; occupied beds 3,418.
• Agilus tests 10.46 million; 200+ new touchpoints.
• B2C:B2B revenue mix was 53:47.

Financial Performance

• Consolidated revenue ₹2,545 Cr; YoY growth 17.5%.
• Consolidated EBITDA ₹551.6 Cr; margin 21.7%.
• Consolidated PAT ₹272.8 Cr; tax ₹90.4 Cr.
• Hospital revenue ₹2,187 Cr; EBITDA ₹471 Cr; margin 21.5%.
• Group net debt ₹2,233 Cr; cash ₹347 Cr.
• Net debt to EBITDA 1.01x; net debt to equity 0.21x.

Capital Structure & Liquidity

• Debt declined QoQ to ₹2,580 Cr as of 30 Jun 2026.
• Net debt improved to ₹2,233 Cr; liquidity ₹347 Cr cash.
• Lease liabilities (Ind AS 116) ₹616 Cr.

Strategic Priorities & Outlook

• Robotic surgery expansion with Da Vinci Xi systems inaugurated.
• Center of Excellence for Myeloma & Lymphoma launched.
• Institute of Neurosciences launched in Noida.
• Focus on specialty growth in Renal, Neurosciences and Orthopedics.
• Digital and international expansion ongoing.

Risks & Mitigation

• No explicit risk factors disclosed in this chunk.

Governance & Leadership

• No material governance changes disclosed.

Financial Highlights

• Consolidated revenue for Q1 FY27: INR 2,545 Cr, up 17.5% YoY.
• Operating EBITDA margin: 22.3% (vs 22.6% in Q1 FY26).
• Hospital revenue INR 2,187 Cr, up 19%; EBITDA margin 21.5%.
• Diagnostics revenue INR 407 Cr, up 10.2%; EBITDA margin 23.9%.
• Net debt at 30-Jun-2026: INR 2,233 Cr; net debt/EBITDA 1.01x; net debt/equity 0.21x.

Operational Developments

• Occupancy 69%; ARPOB INR 2.71 Cr; ALOS 4.19 days.
• Acquisitions in Punjab and Bengaluru; leased facility in Delhi NCR.
• O&M agreement for a 300bedded multi-specialty hospital in Cuttack.
• Brownfield expansion adds ~1,800 beds over 4–5 years.
• Revenue growth expected in line with market; margins to mid-twenties.

Balance Sheet & Leverage

• Net debt/EBITDA 1.01x; net debt/equity 0.21x.

Consolidated results

• Revenue from operations: Rs 9,127.84 cr for the quarter.
• EBITDA: Rs 551.59 cr for the quarter.
• Net profit after tax: Rs 272.80 cr for the quarter.
• Total comprehensive income: Rs 272.90 cr for the quarter.
• EPS (consolidated): Rs 3.53 basic and diluted.
• Healthcare segment revenue: Rs 2,186.67 cr; Diagnostics: Rs 406.54 cr.
• Inter-segment adjustments: Rs -48.18 cr; Net consolidated revenue: Rs 2,545.03 cr.
• Share of profit from associates: Rs 4.38 cr.
• Final dividend: Rs 1.00 per share; net cash outflow approx Rs 75.50 cr.
• ESOPs granted: 1,30,87,600 options.
• Consolidated EPS (continuing ops): Rs 3.53.

Standalone results

• Revenue from operations: Rs 2,545.03 cr.
• EBITDA: Rs 122.85 cr.
• Net profit: Rs 47.78 cr.
• Earnings per share (continuing operations): Basic Rs 0.63; Diluted Rs 0.63.

Key corporate actions

• Tax auditors appointed: M/s B S R & Co. LLP for FY 2025-26.
• Fortis Open Offer and Malar Open Offer completed on 10 Nov 2025.
• Equity infusion by NTK (IHH group) completed earlier; 31.1% stake.
• Fortis brand sale completed; certificate of sale issued; Rs 55.37 cr license fee paid.

Brand & regulatory updates

• SRL brand transition to Agilus Diagnostics; sale process concluded; certificate of sale issued.
• Fortis and FHsL under SEBI/SFIO investigations; penalties imposed; Company cooperating.
• DoHS/Delhi DoHS notifications related to DoHS assessments being contested; no material adjustments expected.

Labour Codes impact & dividends

• One-time impact of new Labour Codes recognized: Rs 1,035 lacs, shown as exceptional item.
• ESOPs: 1,30,87,600 options granted in current quarter.
• Final dividend proposed: Rs 1.00 per equity share; approximately Rs 75.50 cr cash outflow.

Business model & segments

• Two reportable segments: Healthcare and Diagnostics.
• Healthcare segment revenue: Rs 2,186.67 cr; Diagnostics: Rs 406.54 cr.
• Total segment PBT: Rs 415.24 cr.

Meeting Details

• Date and time: Friday, August 07, 2026 at 11:00 IST.
• Mode: virtual conference; Type: group call.
• Event/organiser: Q1FY27 Post Results Conference Call Invite by Fortis.
• Location: Virtual.

Participants

• Key participants: Fortis management (roles not specified).

Purpose

• Purpose: discuss Q1FY27 un-audited results for quarter ended June 30, 2026.