Fortis Healthcare (FORTIS) investor relations material

Executive summary

• Consolidated revenue for Q2 FY26 grew 17.3% year-over-year to INR 2,331 crores, with operating EBITDA at INR 556 crores (23.9% margin), and PAT at INR 305 crores, up 120.7% year-over-year, excluding exceptional items.

• H1 FY26 consolidated revenue was INR 4,498 crores, up 16.9% year-over-year, with operating EBITDA at INR 1,047 crores (23.3% margin), and PAT at INR 559 crores, up 131.1% year-over-year, excluding exceptional items.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with limited review reports confirming no material misstatements.

• Notable clinical achievements included complex neurosurgeries, rare pediatric procedures, and new medical programs such as a Biplane Neuro Cath Lab and Genomic Medicine Institute.

• The company continues to address legacy regulatory and legal matters, with all known financial impacts already provisioned.

Financial highlights

• Hospital business revenue rose 19.3% year-over-year in Q2 FY26 to INR 1,974 crores; diagnostics business gross revenue grew 7.3% to INR 400 crores.

• Q2 FY26 consolidated PBT before exceptional items was INR 402 crores, up 25.3% year-over-year; PAT was INR 305 crores, up 120.7% year-over-year, excluding exceptional items.

• Net debt as of September 30, 2025, stood at INR 2,219 crores, with net debt/EBITDA at 0.96x.

• Consolidated revenue from operations for Q2 FY26 was ₹233,144 lacs, up from ₹198,839 lacs in Q2 FY25; six-month revenue was ₹449,816 lacs, up from ₹384,729 lacs year-over-year.

• Operating EBITDA margin for the hospital business was 22.9% and for diagnostics 26.1% in Q2 FY26.

Outlook and guidance

• Expectation of continued positive growth momentum in both revenue and margins for the remainder of FY26.

• Hospital business margin guidance may be exceeded, with further improvement anticipated as new units mature.

• Diagnostic business margins expected to remain in the 23%-24% range for the full year.

• Full-year organic bed addition guidance maintained at 400-500 beds; similar range expected for FY27.

• Expansion projects include new bed additions at Manesar, Faridabad, Noida, and FMRI, with further capacity increases expected in H2 FY26 and H1 FY27.