Fortis Healthcare Ltd

Dematerialisation/rematerialisation status

• Details of dematerialised/rematerialised securities for the period furnished to all stock exchanges.

Key disclosures

• Supreme Court disposed of Fortis SLP on 25 September 2026, related to a forensic audit.
• IHH maintains the Fortis investment in 2018 was via transparent bidding, INR 4,000 crore for 31%.
• Plan to raise IHH stake in Fortis to 51% over 3-5 years; integrate with Gleneagles.
• Target Fortis capacity expansion to about 10,000 beds by 2031.
• Fortis governance: Singh brothers resigned from the Fortis board in March 2018; independent board appointed.

Audit status and context

• SC order dated 25 September 2026 allows the forensic audit to proceed independently.
• The order clarifies that selected paragraphs in the judgment are tentative and not binding on the audit.
• Delhi High Court has not imposed any liability, penalty, or fine on Fortis.
• Fortis is not a party to the dispute between Daiichi Sankyo and Singh Brothers.
• Independent board was appointed in 2018 after Singh Brothers reduced stake and resigned.
• Northern TK Venture Pte. Ltd., part of IHH Healthcare Berhad group, invested via fresh equity in 2018.
• Forensic audit shall be independent and not guided by observations contested by the Company.

Fortis Healthcare Limited closes trading window from October 1, 2026 till 48 hours after declaration of unaudited financial results for the quarter and half year ended September 30, 2026

Material litigation update

• NTK, Fortis promoter, appealed to Tokyo High Court against the Sept 10, 2026 Tokyo District Court judgment.
• Fortis will announce further material developments as the case progresses.
• IHH cites losses from delays in tender offer approvals for its Fortis acquisition.
• Acquisition of Fortis in 2018 completed with requisite regulatory approvals.
• IHH aims to raise Fortis stake to 51% within 3–5 years and reach ~10,000 beds by 2031.

Overview

• Fortis Hospotel signs exclusive healthcare services agreement with SLJ Society for a 400+ bed Ashok Vihar hospital.
• SLJ Society will own, operate, and develop land/building; Fortis will provide services and clinical manpower.
• Fortis to extend loan to SLJ Society up to INR 567 crores for construction.
• Loan disbursed in multiple tranches over the next 3-4 years.
• Healthcare Services Agreement term: 29 years with extension option.
• Hospital to commence operations in 3-4 years, subject to approvals.
• Fortis services to extend to more than 3,400 beds across Delhi-NCR.

Litigation update

• Fortis filed a Special Leave Petition with the Supreme Court on Sep 16, 2026.
• The SLP appeals against the Delhi High Court order dated Aug 31, 2026.
• Case relates to Daiichi Sankyo vs Malvinder Mohan Singh.
• Original matters include EX.APPL.(OS) 3764/2022, 1615/2025, 3763/2022.
• Annexure-I with details attached per SEBI Listing Regulations.
• Financial implications: N/A.

Meeting Details

• 21 Sep 2026, 9:00 AM–6:00 PM IST; In-person group meet; Non-Deal Road show by BNP Paribas; Mumbai.
• 22 Sep 2026, 9:00 AM–6:00 PM IST; In-person group meet; J.P. Morgan India Conference; Mumbai.

Participants

• Fortis Healthcare management representatives to participate.

Purpose

• Discuss general business update and industry context.

Litigation update

• Court dismissed NTK's claims against Daiichi Sankyo; NTK to bear costs.
• Judgment delivered on 10 September 2026; NTK disagrees and may pursue remedies.
• Fortis will communicate material developments as applicable.
• Enclosed IHH Healthcare Berhad's announcement dated 10 Sep 2026.

Scope and Timeline

• Scope covers reconstruction of evolution of FHHPL, the promoter entity.
• Includes examination of IHH/NTK controlling-stake acquisition, approvals, filings, and investments for Health Trust Singapore.
• Also examines Fortis role in unencumbered share-dissipation by former promoters.
• Supreme Court said transaction was in the normal course of business.
• High Court ordered forensic audit; Fortis compliance with law, no material adverse results foreseen.
• Court timeline fixed at six months; six months to see potential developments.
• Forensic audit costs to be borne by Daiichi; past cost not readily available.
• Last year legal expenditure around INR 25 crores.

Growth Outlook

• IHH will continue backing Fortis; growth engine for India.
• Fortis may merge Gleneagles; capital infusion possible if needed.
• MTO completed; governance transparent; operations insulated from legal issues.
• Growth and M&A opportunities pursued; activities ongoing.
• Capital infusion growth plans unaffected by audit; IHH committed.
• Brand and patient service unaffected; operations continue normally.

Q&A Highlights

• Audit scope includes IHH/NTK investment and approvals.
• IHH can infuse capital; Fortis growth plans unaffected.
• Six-month timeline fixed; further steps possible.
• Operations insulated; growth and capital allocation continue.
• Audit cost borne by Daiichi.
• Japan litigation remains sub-judice; no further comment.

Risks and Watchpoints

• Court outcome risk and six-month window.
• Regulatory dependencies; ongoing legal expenses.
• Distractions from litigation; operations insulated.
• Daiichi's claims affecting timeline/scope.