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Fortis Healthcare Ltd: Stock Analysis & Fundamentals

Updated this week

Fortis Healthcare Ltd (Hospitals) — fundamental analysis, earnings data, and key metrics. PE: 61.0. ROE: 10.1%. This stock is not currently in the Nifty 500 momentum outperformers list.

What's Happening

📊Debt increased 29% YoY — leverage rising
🌐FII stake increased 2.6% this quarter
🏛️DII reducing — stake down 1.6%

Earnings Acceleration Triggers

1. People Tree Hospital acquisition integration
Q1-Q4 FY27MEDIUM
2. Brownfield expansion adding 430+ beds
Q1-Q4 FY27HIGH
3. Diagnostics business margin expansion
Next 2-3 quartersMEDIUM

Key Risks

1. Exceptional items impacting PAT
MEDIUM
2. Integration challenges with acquisitions
MEDIUM

Key Numbers

Current Price
₹814
Dividend Yield
0.12%
Market Cap
61.5K Cr
Valuation
N/A

Why Are Fortis Healthcare Ltd's Earnings Accelerating?

Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 28, 2026

People Tree Hospital acquisition integration

Expected: Q1-Q4 FY27MEDIUM confidence+₹150 Cr revenue

What: 125-bed facility in Bengaluru (expandable to 300 beds) acquired for ₹430 Cr

Impact: +₹150 Cr revenue

“We have completed the acquisition of People Tree Hospitals in Bengaluru for ₹430 Cr, which has 125 operational beds and can be expanded to 300 beds.”

Brownfield expansion adding 430+ beds

Expected: Q1-Q4 FY27HIGH confidence+₹300 Cr revenue

What: Capacity expansion across existing facilities with expected 15-20% revenue growth

Impact: +₹300 Cr revenue

“We plan to add 430+ beds in FY27 through brownfield expansions across our network.”

Diagnostics business margin expansion

Expected: Next 2-3 quartersMEDIUM confidence+₹50 Cr revenue

What: Diagnostic business EBITDA margin expansion from 14.4% to 23.1% in Q3

Impact: +₹50 Cr revenue

“Our diagnostics business reported operating EBITDA margin of 23.1% versus 14.4% in Q3 of financial year 25.”

What Are the Key Risks for Fortis Healthcare Ltd?

Earnings deceleration risks from management commentary

Exceptional items impacting PAT

MEDIUM

Trigger: Continued acquisition-related costs

Impact: -200 bps margin impact

Management view: This resulted in net exceptional loss of ₹46 crores

Monitor: Exceptional items in P&L

Integration challenges with acquisitions

MEDIUM

Trigger: Integration delays beyond 9 months

Impact: -150 bps margin impact

Management view: Not explicitly addressed

Monitor: Bed occupancy at People Tree

What Is Fortis Healthcare Ltd's Management Saying?

Key quotes from recent conference calls

“We have completed the acquisition of People Tree Hospitals in Bengaluru for ₹430 Cr, which has 125 operational beds and can be expanded to 300 beds. — Dr. Ashutosh Raghuvanshi”
“Our consolidated operating EBITDA increased 34.8% to ₹505 crores which translates into a margin of 22.3%. — Dr. Ashutosh Raghuvanshi”
“Occupied beds rising 14% to 3,189 — Dr. Ashutosh Raghuvanshi”
“We expect continued growth trajectory with 4-5% ARPOB increases going forward. — CFO Vivek Goyal”

What Is Fortis Healthcare Ltd's Management Guidance?

Forward-looking targets from management for Next 2-4 quarters

Revenue Growth Target

15%

Implied PAT Growth

15%

OPM Guidance

22.5%

Management Tone: CAUTIOUS

Key Milestones

• 430+ beds addition in FY27

• 20%+ EBITDA margins across 13 facilities

The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 28, 2026.

Other Top Hospitals Stocks Beating Nifty 500

Apollo Hospitals Enterprise Ltd
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Aster DM Healthcare Ltd
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KMC Speciality Hospitals (India) Ltd
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+15.5%
Sakar Healthcare Ltd
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+34.0%
← Back to HospitalsDashboard

Frequently Asked Questions: Fortis Healthcare Ltd

Based on publicly available financial data. This is educational research, not investment advice.

What were Fortis Healthcare Ltd's latest quarterly results?

Fortis Healthcare Ltd's latest quarterly results (Dec 2025) show

  • PAT Growth YoY: -22.4%
  • Revenue Growth YoY: +17.5%
  • Operating Margin: 22.0%

What is Fortis Healthcare Ltd's current PE ratio?

Fortis Healthcare Ltd's current PE ratio is 61.0x.

  • Current PE: 61.0x
  • Market Cap: 61.5K Cr
  • Dividend Yield: 0.12%

What is Fortis Healthcare Ltd's price-to-book ratio?

Fortis Healthcare Ltd's price-to-book ratio is 6.5x.

  • Price-to-Book (P/B): 6.5x
  • Book Value per Share: ₹125
  • Current Price: ₹814

Is Fortis Healthcare Ltd a fundamentally strong company?

Fortis Healthcare Ltd's fundamental strength based on key financial ratios

  • Return on Capital (ROCE): 12.0%

Is Fortis Healthcare Ltd debt free?

Fortis Healthcare Ltd has a debt-to-equity ratio of N/A.

  • Total Debt: ₹2,000 Cr

What is Fortis Healthcare Ltd's return on equity (ROE) and ROCE?

Fortis Healthcare Ltd's return ratios over recent years

  • FY2023: ROCE 10.0%
  • FY2024: ROCE 10.0%
  • FY2025: ROCE 12.0%

Is Fortis Healthcare Ltd's cash flow positive?

Fortis Healthcare Ltd's operating cash flow is positive (FY2025).

  • Cash from Operations (CFO): ₹1,000 Cr
  • Free Cash Flow (FCF): ₹644 Cr
  • CFO/PAT Ratio: 176% (strong cash conversion)

What is Fortis Healthcare Ltd's dividend yield?

Fortis Healthcare Ltd's current dividend yield is 0.12%.

  • Dividend Yield: 0.12%
  • Current Price: ₹814

Who holds Fortis Healthcare Ltd shares — promoters, FII, DII?

Fortis Healthcare Ltd's shareholding pattern (Dec 2025)

  • Promoters: 31.2%
  • FII (Foreign): 27.8%
  • DII (Domestic): 29.3%
  • Public: 11.7%

Is promoter holding increasing or decreasing in Fortis Healthcare Ltd?

Fortis Healthcare Ltd's promoter holding has remained stable recently.

  • Current Promoter Holding: 31.2% (Dec 2025)
  • Previous Quarter: 31.2% (Sep 2025)
  • Change: 0.00% (stable)

Is Fortis Healthcare Ltd a new momentum entry or an established outperformer?

Fortis Healthcare Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.

What are the growth catalysts for Fortis Healthcare Ltd?

Fortis Healthcare Ltd has 3 key growth catalysts identified from recent earnings analysis

  • People Tree Hospital acquisition integration
  • Brownfield expansion adding 430+ beds
  • Diagnostics business margin expansion

What are the key risks in Fortis Healthcare Ltd?

Fortis Healthcare Ltd has 2 key risks worth monitoring

  • Exceptional items impacting PAT
  • Integration challenges with acquisitions

What did Fortis Healthcare Ltd's management say in the latest earnings call?

In Q3 FY26 (ended December 31, 2025), Fortis Healthcare Ltd's management highlighted

  • "We have completed the acquisition of People Tree Hospitals in Bengaluru for ₹430 Cr, which has 125 operational beds and can be expanded to 300 beds. —..."
  • "Our consolidated operating EBITDA increased 34.8% to ₹505 crores which translates into a margin of 22.3%. — Dr. Ashutosh Raghuvanshi"
  • "Occupied beds rising 14% to 3,189 — Dr. Ashutosh Raghuvanshi"

What is Fortis Healthcare Ltd's management guidance for growth?

Fortis Healthcare Ltd's management has provided the following forward guidance for Next 2-4 quarters

  • Revenue growth target: 15%
  • Implied PAT growth: 15%
  • OPM guidance: 22.5%
  • Management tone: cautious
  • Milestone: 430+ beds addition in FY27
  • Milestone: 20%+ EBITDA margins across 13 facilities

Is Fortis Healthcare Ltd worth studying for long term investment?

Based on quantitative research signals, here is why Fortis Healthcare Ltd may be worth studying

  • Cash flow is positive — CFO ₹1,000 Cr

What is the investment thesis for Fortis Healthcare Ltd?

Fortis Healthcare Ltd investment thesis summary:

Research Signals (Bull Case)

  • Growth catalyst: People Tree Hospital acquisition integration

Risk Factors (Bear Case)

  • Key risk: Exceptional items impacting PAT

What is the future outlook for Fortis Healthcare Ltd?

Fortis Healthcare Ltd's forward outlook based on current data signals

  • Key Catalyst: People Tree Hospital acquisition integration
  • Key Risk: Exceptional items impacting PAT

The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.