Fortis Healthcare (FORTIS) Q4 25/26 earnings summary

Executive summary

• Board recommended a dividend of INR 1 per share for the fourth consecutive year, reflecting strong fundamentals and subject to shareholder approval.

• Consolidated revenue for FY26 reached INR 9,128 crore, up 17.3% year-over-year, with operating EBITDA at INR 2,085 crore (22.8% margin), up 31.3%.

• PAT for FY26 was INR 1,064 crore, up 31.5% year-over-year; PAT (excluding exceptional items) was INR 1,086 crore, up 20.9%.

• Major acquisitions and expansions included People Tree Hospital (Bangalore), Shrimann Super Specialty (Jalandhar), and new O&M agreements.

• Approved audited standalone and consolidated financial results for FY26, with an unmodified audit opinion from statutory auditors.

Financial highlights

• FY26 consolidated revenue reached INR 9,128 crore, up 17.3% year-over-year; hospital revenue grew 19.1% to INR 7,773 crore, diagnostics up 8–9% to INR 1,527 crore.

• Consolidated operating EBITDA rose 31.3% to INR 2,085 crore (margin 22.8%); profit after tax increased 31.5% to INR 1,064 crore.

• Q4 FY26 revenue was INR 2,365 crore, up 17.8% year-over-year; hospital revenue INR 2,023 crore (+19%), diagnostics INR 341 crore (+11.4%).

• Net debt as of March 31, 2026, stood at INR 2,334 crore; net debt/EBITDA at 1.09x.

• Basic and diluted EPS for FY26 were INR 13.80, compared to INR 10.26 in FY25.

Outlook and guidance

• Hospital business expects 15%+ revenue growth and 150 bps EBITDA margin improvement in FY27.

• Diagnostic business targets 23–24% EBITDA margin and double-digit revenue growth, with 70% of growth from volume and 30% from value.

• Planned capacity addition of ~1,800 beds from FY27 to FY30, targeting a CAGR of 6.5%.

• Hospital EBITDA margin guidance of 25% by FY28 remains intact, with expected annual improvement of 1.5–2%.

• Employee stock option scheme 2026 approved and options granted post quarter-end.