Fortis Healthcare (FORTIS) investor relations material

Executive summary

• Consolidated Q3 FY26 revenue grew 17.5% year-over-year to INR 2,265 crore, with both hospital and diagnostics segments showing strong momentum; 9MFY26 revenue was INR 6,763 crore, up 17.1% year-over-year.

• Q3 FY26 operating EBITDA increased 34.8% to INR 505 crore (22.3% margin), with margin expansion from 19.4% a year ago; 9MFY26 Op EBITDA was INR 1,553 crore (23.0% margin), up 34.7%.

• Q3 FY26 PAT declined to INR 197 crore from INR 250 crore due to a one-off INR 55 crore labor code expense, partially offset by a reversal of impairment in an associate; PAT excluding exceptional items was INR 243 crore, up 15.6% year-over-year.

• Acquisition of People Tree Hospital in Bangalore for INR 430 crore and launch of Adayu, a 36-bed mental health facility in Gurugram, expanded the network and service offerings.

• Board approved unaudited financial results and ESOP 2026, subject to approvals.

Financial highlights

• Nine-month FY26 consolidated revenue reached INR 6,763 crore, up 17.1% year-over-year; operating EBITDA for nine months rose to INR 1,553 crore, with margin improving to 23% from 20%.

• Net debt stood at INR 2,547 crore, with net debt/EBITDA at 1.24x as of December 31, 2025.

• Q3 FY26 PBT (excluding exceptional items) was INR 312 crore, up 21.9% year-over-year; 9MFY26 PBT was INR 1,051 crore, up 30.4%.

• Hospital business nine-month revenue grew 19.1% to INR 5,749 crore; operating margin improved to 22.2%.

• EBITDA for the quarter was INR 51,394 lacs (consolidated) and INR 11,498 lacs (standalone).

Outlook and guidance

• Management expects continued growth trajectory and margin improvement, especially from brownfield expansions and operational ramp-up of new facilities.

• Ongoing bed expansion projects in Manesar, Noida, and FMRI, with significant capacity additions expected in FY26 and FY27.

• ARPOB is expected to increase 4-5% annually over the next two years, driven by both price and case mix.

• Guidance for FY27 suggests maintaining current growth and margin trends, with no specific numeric targets disclosed.

• The company is focused on operational consolidation and brand transitions, with recent acquisitions and restructuring to strengthen business.