Fortis Healthcare Ltd
FORTISFortis Healthcare Ltd's earnings have outrun its stock. EPS grew +34.5% in a year against a +10.0% price move.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is in a confirmed uptrend (13 weeks in) while the P/E sits at the 63rd percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +44.1% year on year, and 164% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Fortis Healthcare Ltd trades at ₹945, in a confirmed uptrend and 13 weeks into that stage. That is +3.8% against its own 200-day average. It sits at 53% of a 52-week range of ₹789 to ₹1,085. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).
Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹945 it trades +3.8% versus its 200-day average and sits at 53% of its 52-week range (₹789–₹1,085).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +452% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Fortis Healthcare Ltd trades at 67.5× P/E, mid-range by its own standards (63rd percentile). Its long-run median P/E is 61.1×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 67.5× is mid-range by its own standards (63rd percentile), against a long-run median of 61.1× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +34.5% against a +10.0% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +30.4%/yr price move, ~+44.7%/yr came from earnings growth and ~−14.3 pp from the multiple (compressing); over 10y, of the +18.6%/yr price move, ~+21.9%/yr came from earnings growth and ~−3.3 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 12% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Fortis Healthcare Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 13.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +17.3% | +13.2% | +17.8% | +8.1% |
| Profit | +31.5% | +18.9% | — | +38.2% |
| EPS | +34.5% | +20.9% | — | +42.5% |
| Share price | +10.0% | +41.3% | +30.4% | +18.6% |
4-Factor Sector Score
50.2/100 — rank 11 of 19 in Hospitals · 78% evidence confidence
Fortis Healthcare Ltd scores 50.2 out of 100 against the 19 companies it is compared with in Hospitals, ranking 11. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.3% and the one-year return is 11.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 23.6 + 12.8 + 9 + 4.8 = 50.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Fortis Healthcare Ltd reported ₹2,365 Cr of revenue in the Mar 26 quarter, +17.8% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at 8.1% a year. The last full year, FY26, came in at ₹9,128 Cr. The last four reported quarters add to ₹9,128 Cr.
FY26 revenue came in at ₹9,128 Cr (+17.3% on the year), capping 10 years at 8.1% compound. The latest quarter (Mar 26) printed ₹2,365 Cr, +17.8% year on year — the 10th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +17.3% growth against the decade's 8.1% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +17.3% over the last 4 quarters against +15.1%/yr over the last 8 — stabilising; TTM profit +31.5% vs +28.4%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Fortis Healthcare Ltd's operating margin is 23.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 2.0% to 23.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 23.0%, +1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 2.0%–23.0%, and FY26's 23.0% is the top of that band — a record year.
Why the margin moved: operating margin went +0.8 pp year on year while gross margin went +1.1 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Fortis Healthcare Ltd earned ₹271 Cr of net profit in the Mar 26 quarter, +44.1% year on year. Full-year FY26 profit was ₹1,064 Cr. The 10-year compound rate is 38.2%. That is 11.5% of the quarter's revenue. The same quarter a year earlier earned ₹188 Cr.
Mar 26 profit was ₹271 Cr, +44.1% year on year. On the full year, FY26 printed ₹1,064 Cr (+31.5%), and the 10-year compound rate is 38.2%.
Why profit moved: revenue contributed +17.8% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +36.4% vs revenue +17.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 164% of Fortis Healthcare Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹1,601 Cr of operating cash against ₹1,064 Cr of profit. After ₹2,282 Cr of capital spending, ₹−681 Cr was left as free cash.
FY26: operating cash of ₹1,601 Cr against reported profit of ₹1,064 Cr, leaving free cash of ₹−681 Cr after ₹2,282 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 164% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 164%: the cash cycle stretched 36 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 3.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Fortis Healthcare Ltd's cash conversion cycle runs −99 days in FY26, up from −135 days in FY21. Capital spending ran ₹4,187 Cr over the last 3 years. At FY26 sales of ₹9,128 Cr each day of that cycle holds about ₹25.0 Cr, so roughly ₹−2,476 Cr sits inside the business at any moment.
FY26: debtors at 42 days, inventory at 24 days — roughly 0.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −99 days, looser than FY21's −135.
The full loop: cash goes out to suppliers and production on day 0; stock waits 24 days to sell; customers pay about 42 days after that; and suppliers themselves are paid at 165 days — netting out to the −99-day cycle.
In money terms: at FY26 sales of ₹9,128 Cr, each day of the cycle holds about ₹25.0 Cr — so the −99-day loop keeps roughly ₹−2,476 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹4,187 Cr over the last 3 fiscal years against ₹1,177 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹434 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Fortis Healthcare Ltd earns a ROCE of 13% in FY26. That is up from a trough of 0% in FY14. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 11.7% net margin on 0.58× asset turns.
FY26 ROCE is 13%, recovered from a FY14 trough of 0% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 11.7% net margin × 0.58× asset turns × 1.60× balance-sheet leverage ≈ 10.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 12% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Fortis Healthcare Ltd carries ₹3,473 Cr of borrowings against ₹9,896 Cr of equity in FY26, a debt-to-equity of 0.35. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹1,531 Cr to ₹3,473 Cr. Capital spending ran ₹4,187 Cr across the last 3 of those years.
FY26: borrowings of ₹3,473 Cr against equity of ₹9,896 Cr — a debt-to-equity of 0.35. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹1,531 Cr to ₹3,473 Cr while capital spending ran ₹4,187 Cr in just the last 3 — part of the build-out is riding on borrowed money.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 12% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 1.9 points of Fortis Healthcare Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 25.2% of the company. Domestic institutions moved −0.1 points over the same window, to 32.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +1.9 points over 8 quarters to 25.2%; Domestic institutions: −0.1 points over 8 quarters to 32.2%; Promoters: +0.0 points over 8 quarters to 31.2%.
Why the register moved: foreign institutions drove it (+1.9 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Fortis Healthcare Ltd: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
The safety line in one sentence: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1KMC Speciality Hospitals (India) Ltd524520 | 82.1/100Sector-leading setup78% evidence | LEADER | 30.8/35 Revenue 32.5% · PAT 100% · OPM change 6 pp 83% evidence | 20.6/25 ROCE 26% · OPM 31% 76% evidence | 11.2/20 P/E 44.5× · PEG — 50% evidence | 19.5/20 RS sector 34% · RS bench 44.3% · 1Y 97.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 30.8 + 20.6 + 11.2 + 19.5 = 82.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Artemis Medicare Services LtdARTEMISMED | 67.9/100Favorable setup96% evidence | LEADER | 24.4/35 Revenue 15.5% · PAT 24.1% · OPM change 3 pp 88% evidence | 12.0/25 ROCE 14.6% · OPM 18% 100% evidence | 14.4/20 P/E 44.6× · PEG 1.09 100% evidence | 17.1/20 RS sector 8.2% · RS bench 17.1% · 1Y 24.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.4 + 12 + 14.4 + 17.1 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Sakar Healthcare LtdSAKAR | 67.6/100Favorable setup87% evidence | LEADER | 32.2/35 Revenue 43.9% · PAT 71.4% · OPM change 5 pp 95% evidence | 11.0/25 ROCE 12.7% · OPM 29% 95% evidence | 6.9/20 P/E 54.6× · PEG — 50% evidence | 17.5/20 RS sector 57% · RS bench 68.5% · 1Y 144.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32.2 + 11 + 6.9 + 17.5 = 67.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Apollo Hospitals Enterprise LtdAPOLLOHOSP | 67.1/100Favorable setup78% evidence | LEADER | 23.6/35 Revenue 15.8% · PAT 33% · OPM change 1 pp 83% evidence | 15.4/25 ROCE 17.9% · OPM 15% 76% evidence | 12.6/20 P/E 65.8× · PEG — 50% evidence | 15.5/20 RS sector 5.2% · RS bench 13.7% · 1Y 19.9%8 of 12 weeks ahead 100% evidence |
| Exact sum: 23.6 + 15.4 + 12.6 + 15.5 = 67.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Rainbow Childrens Medicare LtdRAINBOW | 58.0/100Mixed-positive evidence100% evidence | BREAKING OUT | 18.0/35 Revenue 18.3% · PAT 12.4% · OPM change 0 pp 100% evidence | 17.1/25 ROCE 17.4% · OPM 29% 100% evidence | 7.3/20 P/E 54.1× · PEG 2.97 100% evidence | 15.6/20 RS sector 4% · RS bench 12.4% · 1Y -2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 17.1 + 7.3 + 15.6 = 58 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Max Healthcare Institute LtdMAXHEALTH | 57.8/100Mixed-positive evidence90% evidence | TURNING | 25.1/35 Revenue 19.1% · PAT 34% · OPM change 1 pp 88% evidence | 15.8/25 ROCE 14.7% · OPM 28% 100% evidence | 10.8/20 P/E 72.1× · PEG 1.73 100% evidence | 6.1/20 RS sector -7.9% · RS bench 0.1% · 1Y -14.2%2 of 10 weeks ahead 70% evidence |
| Exact sum: 25.1 + 15.8 + 10.8 + 6.1 = 57.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.9% and the one-year return is -14.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 7Kovai Medical Center & Hospital LtdKOVAI | 54.6/100Mixed-positive evidence96% evidence | FADING | 17.8/35 Revenue 15.8% · PAT 16.2% · OPM change -1 pp 88% evidence | 21.3/25 ROCE 22.6% · OPM 27% 100% evidence | 10.4/20 P/E 26.3× · PEG 1.51 100% evidence | 5.1/20 RS sector -7.4% · RS bench 0.2% · 1Y -3.3%4 of 12 weeks ahead 100% evidence |
| Exact sum: 17.8 + 21.3 + 10.4 + 5.1 = 54.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Dr Agarwals Eye Hospital LtdDRAGARWQ | 54.3/100Mixed-positive evidence90% evidence | ASLEEP | 19.6/35 Revenue 18.6% · PAT 27.8% · OPM change -4 pp 88% evidence | 16.8/25 ROCE 17.4% · OPM 28% 100% evidence | 10.6/20 P/E 34.6× · PEG 1.72 100% evidence | 7.3/20 RS sector -4% · RS bench -1% · 1Y 13.4%4 of 7 weeks ahead 70% evidence |
| Exact sum: 19.6 + 16.8 + 10.6 + 7.3 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Global Health LtdMEDANTA | 54.1/100Mixed-positive evidence100% evidence | LEADER | 12.3/35 Revenue 21.3% · PAT 3.4% · OPM change -2 pp 100% evidence | 13.9/25 ROCE 17.1% · OPM 22% 100% evidence | 11.3/20 P/E 66× · PEG 1.11 100% evidence | 16.6/20 RS sector 4.5% · RS bench 13% · 1Y 6.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 12.3 + 13.9 + 11.3 + 16.6 = 54.1 · Decision use: Price leads the evidence: RS versus the benchmark is 13%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Indraprastha Medical Corporation LtdINDRAMEDCO | 52.2/100Mixed-positive evidence90% evidence | ASLEEP | 12.4/35 Revenue 9.3% · PAT 13.7% · OPM change -1 pp 88% evidence | 18.6/25 ROCE 35.8% · OPM 17% 100% evidence | 17.2/20 P/E 18.3× · PEG 0.92 100% evidence | 4.0/20 RS sector -8.4% · RS bench -17.3% · 1Y -20.2%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.4 + 18.6 + 17.2 + 4 = 52.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 11Fortis Healthcare Ltdthis pageFORTIS | 50.2/100Mixed-positive evidence78% evidence | FADING | 23.6/35 Revenue 17.3% · PAT 31.5% · OPM change 1 pp 83% evidence | 12.8/25 ROCE 13.4% · OPM 23% 76% evidence | 9.0/20 P/E 67.5× · PEG — 50% evidence | 4.8/20 RS sector -7.3% · RS bench 0.2% · 1Y 11.8%8 of 12 weeks ahead 100% evidence |
| Exact sum: 23.6 + 12.8 + 9 + 4.8 = 50.2 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.3% and the one-year return is 11.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 12Yatharth Hospital & Trauma Care Services LtdYATHARTH | 48.2/100Mixed-negative evidence78% evidence | FADING | 19.5/35 Revenue 36.1% · PAT 31.5% · OPM change -2 pp 83% evidence | 11.7/25 ROCE 12.4% · OPM 23% 76% evidence | 8.8/20 P/E 45× · PEG — 50% evidence | 8.2/20 RS sector 0.2% · RS bench 8.1% · 1Y 30.6%11 of 12 weeks ahead 100% evidence |
| Exact sum: 19.5 + 11.7 + 8.8 + 8.2 = 48.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13GPT Healthcare LtdGPTHEALTH | 47.9/100Mixed-negative evidence70% evidence | TURNING | 10.3/35 Revenue 16% · PAT -14% · OPM change -2 pp 83% evidence | 18.5/25 ROCE 19.9% · OPM 18% 95% evidence | 11.2/20 P/E 32.5× · PEG — 15% evidence | 7.9/20 RS sector -15.8% · RS bench 17.9% · 1Y 5.9%10 of 10 weeks ahead 70% evidence |
| Exact sum: 10.3 + 18.5 + 11.2 + 7.9 = 47.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Aster DM Quality Care LtdASTERDM | 39.4/100Mixed-negative evidence96% evidence | LEADER | 12.6/35 Revenue 12.2% · PAT -80% · OPM change 1 pp 88% evidence | 9.8/25 ROCE 11.4% · OPM 19% 100% evidence | 1.5/20 P/E 176× · PEG 3.07 100% evidence | 15.5/20 RS sector 10.8% · RS bench 19.6% · 1Y 41.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 12.6 + 9.8 + 1.5 + 15.5 = 39.4 · Decision use: Price leads the evidence: RS versus the benchmark is 19.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 15Krishna Institute of Medical Sciences LtdKIMS | 39.4/100Mixed-negative evidence78% evidence | LEADER | 10.4/35 Revenue 28.7% · PAT -41.5% · OPM change -6 pp 83% evidence | 9.2/25 ROCE 9.3% · OPM 19% 76% evidence | 5.5/20 P/E 136× · PEG — 50% evidence | 14.3/20 RS sector 3.7% · RS bench 12% · 1Y 5.6%10 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 9.2 + 5.5 + 14.3 = 39.4 · Decision use: Price leads the evidence: RS versus the benchmark is 12%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 16Narayana Hrudayalaya LtdNH | 39.3/100Mixed-negative evidence87% evidence | TURNING | 12.6/35 Revenue 59.6% · PAT 3.8% · OPM change -5 pp 100% evidence | 11.6/25 ROCE 15.5% · OPM 17% 100% evidence | 6.1/20 P/E 48.1× · PEG 3 65% evidence | 9.0/20 RS sector -4.3% · RS bench 9.2% · 1Y 1.9%5 of 10 weeks ahead 70% evidence |
| Exact sum: 12.6 + 11.6 + 6.1 + 9 = 39.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Healthcare Global Enterprises LtdHCG | 35.9/100Mixed-negative evidence65% evidence | TURNING | 13.1/35 Revenue 14.5% · PAT -53.4% · OPM change 1.1 pp 83% evidence | 7.4/25 ROCE 8.3% · OPM 19.2% 76% evidence | 8.5/20 P/E 349× · PEG — 15% evidence | 6.9/20 RS sector -8.1% · RS bench 3.4% · 1Y 18.5%8 of 10 weeks ahead 70% evidence |
| Exact sum: 13.1 + 7.4 + 8.5 + 6.9 = 35.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Shalby LtdSHALBY | 30.7/100Adverse evidence69% evidence | ASLEEP | 15.6/35 Revenue 4.8% · PAT 100% · OPM change 2 pp 62% evidence | 2.5/25 ROCE 6.5% · OPM 10% 95% evidence | 9.1/20 P/E 46.6× · PEG — 50% evidence | 3.5/20 RS sector -28.4% · RS bench -14.9% · 1Y -22.3%6 of 10 weeks ahead 70% evidence |
| Exact sum: 15.6 + 2.5 + 9.1 + 3.5 = 30.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Jupiter Life Line Hospitals LtdJLHL | 29.8/100Adverse evidence100% evidence | BASING | 8.4/35 Revenue 14.7% · PAT -3.1% · OPM change -3 pp 100% evidence | 10.5/25 ROCE 14.8% · OPM 19% 100% evidence | 6.4/20 P/E 56.9× · PEG 3.44 100% evidence | 4.5/20 RS sector -74.8% · RS bench 17.9% · 1Y -77.2%3 of 12 weeks ahead 100% evidence |
| Exact sum: 8.4 + 10.5 + 6.4 + 4.5 = 29.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Fortis Healthcare Ltd's share price today?
Fortis Healthcare Ltd trades at ₹945, +10.0% over the past year. The company is valued at ₹71,344 Cr. The stock sits at 53% of its 52-week range of ₹789–₹1,085, +3.8% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 13 weeks in. — as of 31 July 2026.
What were Fortis Healthcare Ltd's latest quarterly results?
Fortis Healthcare Ltd reported revenue of ₹2,365 Cr and net profit of ₹271 Cr for the Mar 26 quarter. Revenue rose 17.8% and profit rose 44.1% year on year. Earnings per share were ₹3.52. The operating margin was 23.0%, 1.0 pp higher than a year earlier. — as of 31 July 2026.
What is Fortis Healthcare Ltd's revenue?
Fortis Healthcare Ltd reported revenue of ₹2,365 Cr in the Mar 26 quarter, +17.8% year on year. For the full FY26 fiscal year, revenue was ₹9,128 Cr (+17.3%). Over the last 10 years revenue compounded at 8.1% a year. — as of 31 July 2026.
What is Fortis Healthcare Ltd's profit?
Fortis Healthcare Ltd earned ₹271 Cr of net profit in the Mar 26 quarter, +44.1% year on year. Full-year FY26 profit was ₹1,064 Cr. The operating margin ran 23.0% in the latest quarter. — as of 31 July 2026.
What is Fortis Healthcare Ltd's market cap?
Fortis Healthcare Ltd's market capitalisation is ₹71,344 Cr at a share price of ₹945. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Fortis Healthcare Ltd's P/E ratio?
Fortis Healthcare Ltd trades at a P/E of 67.5×, at the 63rd percentile of its own 10-year range, against a long-run median of 61.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Fortis Healthcare Ltd pay a dividend?
Yes — Fortis Healthcare Ltd's dividend payout was 7% of profit in FY26, and it recorded a payout in 4 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is Fortis Healthcare Ltd overvalued?
On its own history, Fortis Healthcare Ltd looks mid-range against its own history: its P/E of 67.5× sits at the 63rd percentile of its 10-year range (long-run median 61.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
Is Fortis Healthcare Ltd growing?
Yes — Fortis Healthcare Ltd is growing: latest-quarter revenue +17.8% year on year, profit +44.1%, and the margin +1.0 pp at 23.0%. The 10-year compound rates are 8.1% (revenue) and 38.2% (profit). The earnings engine currently reads: improving — as of 31 July 2026.
How is Fortis Healthcare Ltd performing?
Fortis Healthcare Ltd is in a confirmed uptrend, 13 weeks in. Its latest quarter's revenue rose 17.8% and profit rose 44.1% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Fortis Healthcare Ltd in?
Mixed — no clean majority across the growth curves, ROCE lifting at 13.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +17.8% latest, profit growth +44.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Fortis Healthcare Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 13 of stage 2), trading +3.8% versus its 200-day average and at 53% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Fortis Healthcare Ltd beating the market?
Not lately — on a trailing-13-week view Fortis Healthcare Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +452% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 31 July 2026.
Will Fortis Healthcare Ltd's share price go up?
This page publishes no price forecast for Fortis Healthcare Ltd. What it measures instead: the share price is ₹945, the price is in a confirmed uptrend 13 weeks in. Its P/E of 67.5× sits at the 63rd percentile of its own 10-year range. — as of 31 July 2026.
Who owns Fortis Healthcare Ltd?
Promoters hold 31.2% of Fortis Healthcare Ltd, foreign institutions 25.2%, domestic institutions 32.2% and the public 11.4% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 1.9 points over 8 quarters. — as of 31 July 2026.
Does Fortis Healthcare Ltd have too much debt?
It is moderate — Fortis Healthcare Ltd's debt-to-equity is 0.35, and operating profit covers the interest bill 7×. FY26 borrowings were ₹3,473 Cr against equity of ₹9,896 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Fortis Healthcare Ltd's capex?
Fortis Healthcare Ltd spent ₹4,187 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2,282 Cr, with ₹434 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Fortis Healthcare Ltd's cash flow?
Fortis Healthcare Ltd generated ₹1,601 Cr of operating cash flow in FY26 and ₹−681 Cr of free cash flow after ₹2,282 Cr of capital spending. Reported profit that year was ₹1,064 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Fortis Healthcare Ltd's profit real cash?
Yes — over the last 3 fiscal years, 164% of Fortis Healthcare Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹1,601 Cr against reported profit of ₹1,064 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Fortis Healthcare Ltd in its business cycle?
Fortis Healthcare Ltd's FY26 operating margin was 23.0%, against a 13-year band of 2.0%–23.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 23.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Fortis Healthcare Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Fortis Healthcare Ltd a stock worth studying right now?
This is not investment advice. The machine read: Fortis Healthcare Ltd's earnings have outrun its stock. EPS grew +34.5% in a year against a +10.0% price move. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.