Fortis Healthcare (FORTIS) Q1 26/27 earnings summary

Executive summary

• Consolidated revenue for Q1 FY27 grew 17.5% year-over-year to INR 2,545 crore, with hospital business revenue up 19% and diagnostics up 10.2%.

• Operating EBITDA pre-ESOP rose 15.8% to INR 568 crore, with a margin of 22.3%.

• Net profit before exceptional items increased to INR 263 crore, up 13.6% year-over-year.

• Recent acquisitions in Punjab, Bengaluru, and Delhi NCR contributed to growth.

• Unaudited standalone and consolidated financial results for Q1 FY27 were approved with no material misstatements.

Financial highlights

• Hospital business operating EBITDA was INR 471 crore (21.5% margin), diagnostics at INR 97 crore (23.9% margin), both excluding ESOP expenses.

• Net debt stood at INR 2,233 crore, net debt/EBITDA at 1.01x as of June 30, 2026.

• ARPOB increased 2.6% to INR 2.71 crore per annum.

• International business revenue grew 13.3% to INR 174 crore, contributing 8% of total revenue.

• 14 facilities reported EBITDA margins above 20%, contributing over 70% of hospital revenues.

Outlook and guidance

• Margin guidance maintained at 25% EBITDA by FY 2028, including ESOP costs.

• Diagnostic business expected to deliver 12-13% revenue growth and 24-25% EBITDA margin.

• Bed expansion plans on track, with 400 more beds to be operationalized in FY 2027.

• Oncology and brownfield expansions expected to boost margins and growth.

• The Board recommended a final dividend of ₹1.00 per equity share for FY26, subject to approval.