Fortis Healthcare Limited
FHL was incorporated in February 1996. The company’s first healthcare facility became operational in Mohali, Punjab in 2001. It is a leading integrated healthcare service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Nepal, Dubai and Sri Lanka with 36 healthcare facilities with approximately 4,000 operational beds.
Business Segments:
- a) Hospital Segment: Co. operates Multi-specialty and super-specialty hospitals providing inpatient and outpatient treatments across various disciplines.
- b) Diagnostics Segment: Co. operates the segment through its subsidiary Agilu Diagnostics (89.2% stake) It conducts Pathology, imaging, and preventive health check-ups
Shareholding Pattern (December 2025)
Financial Summary:
| Particular | Mar-21 | Mar-22 | Mar-23 | Mar-24 | Mar-25 |
| Sales – | 4,030 | 5,718 | 6,298 | 6,893 | 7,783 |
| Sales Growth % | -13.00% | 41.87% | 10.14% | 9.45% | 12.91% |
| Expenses + | 3,626 | 4,649 | 5,196 | 5,625 | 6,195 |
| Operating Profit | 404 | 1,069 | 1,101 | 1,268 | 1,588 |
| OPM % | 10% | 19% | 17% | 18% | 20% |
| Net Profit + | -56 | 790 | 633 | 645 | 809 |
| EPS in Rs | -1.45 | 7.35 | 7.8 | 7.93 | 10.26 |
| Dividend Payout % | 0% | 0% | 13% | 13% | 10% |
Synopsis of Financials:
- Revenue: INR 2,265 cr (+17.5% YoY)
- Operating EBITDA: INR 505 cr (+34.8% YoY); margin 22.3% (vs 19.4% in Q3 FY25)
- Reported PAT: INR 197 cr (vs INR 250 cr in Q3 FY25) due to exceptionals:
Final Outlook:
Fortis Healthcare has shown a strong turnaround after FY21. The company is growing steadily with improving margins and better hospital occupancy. Revenue and operating profit are increasing consistently, showing strong demand for healthcare services. However, debt has increased due to acquisitions and expansion, and occasional one-time costs can impact profits. Overall, the business is stable and growing, but not very fast.
Final Verdict: HOLD
Fortis Healthcare is a stable healthcare company with improving performance and strong demand outlook.
👉 HOLD for steady long-term growth
