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Company details

6M Return 36.64%
1Y Return 33.21%
Mkt Cap.(Cr) 28,843.17
Volume 1,682,641
Div Yield 0.26%
OI Chg %
Volume 1,682,641

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Fortis Healthcare announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Consolidated revenues at Rs 1,770 crore, up 10.1%
    • Operating EBITDA at Rs 330 crore, 18.6% margin
    • Hospital Business Q2FY24 revenues up 12% to Rs 1,453 crore
    • Operating EBITDA at Rs 268 crore, 18.4% margin
    • Hospital business ARPOB increases 11.8% to Rs 2.21 crore
    • Agilus Diagnostics files DRHP for a proposed IPO
  • H1FY24:
    • Consolidated revenues were at Rs 3,427.4 crore, up 10.7% versus H1FY23. The operating margins for H1FY24 were 17.6%, marginally lower than the 17.9% in the corresponding previous period.
    • Hospital business revenues grew 12.7% to Rs 2,806.7 crore as compared to Rs 2,489.3 crore in H1FY23. Operating margins stood at 16.9% for the period versus 17.3% in the corresponding previous period.
    • Diagnostic business gross revenues were at Rs 702.9 crore versus Rs 683.8 crore in H1FY23

Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare stated, “Our Q2FY24 performance has seen the hospital business profitability increasing both versus the corresponding and trailing quarter. We remain on track to add approx. 250 beds to our network in the current fiscal across facilities such as Mulund, Anandpur, and Ludhiana with a total planned addition of close to 1,400 beds in the next few years. Further augmenting our bed expansion plans in the Delhi – NCR and the Punjab clusters, we are also evaluating new expansion opportunities including optimizing the current available space to add additional beds in Mohali and Shalimar Bagh. Following from the divestment of our Arcot Road, Chennai facility in July 2023, our focus on evaluating further portfolio rationalization opportunity continues. Efforts to implement the EMR technology are ongoing and offer a platform to integrate this with our HIS, myFortis app, and other applications. This could enable us to digitize the patient journey and provide a ‘Personalized Experience’ to our patients. I’m pleased to highlight that in September 2023 we filed the Draft Red Herring Prospectus (DRHP) for a proposed IPO of Agilus Diagnostics, our diagnostics business vertical.”

Commenting on the results for the quarter, Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “Our consolidated revenues in Q2FY24 have grown 10.1% to Rs 1,770 crore with operating EBITDA margins at 18.6%. Our hospital business has seen a significant improvement versus the trailing quarter with margins expanding 320 bps and are also better than Q2 of the previous year. Operating margins in the hospital business were at 18.4%, better than 18.2% on a YoY basis. This is attributable in part to a stronger case mix and growth in medical tourism revenues. Our focus on improving our specialty mix has led to a 13.4% growth cumulatively in our top 6 specialties with surgical contribution improving to 61.2% versus 60.5% in Q2 of the previous year. This is also reflected in the 11.8% growth witnessed in ARPOB which stood at Rs 2.21 crore. We have commissioned new medical equipment such as LINAC and Ortho Robots at select facilities such as Noida, Shalimar Bagh, and FMRI and have further bolstered our clinical talent; onboarding clinicians in several specialties including amongst others Oncology, Neurology, and Renal Sciences. These along with our brownfield bed expansion plans and a continuing focus on inorganic opportunities are expected to drive further growth in the business.”

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Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Fortis Healthcare Ltd Stocks COMPARISION


Equity Capital: 7,242.26 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 21,819.21 39,849.27
LAST 3M 59,182.99 17,912.96
LAST 6M 101,166.54 92,564.27
LAST 12M 166,925.45 138,096.90

Fortis Healthcare Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Fortis Healthcare Limited is an Indian company that runs a chain of hospitals across the country. Fortis Hospitals are super-speciality hospitals that concentrate on multiple specialities and high-end treatments. Some of the specialities include cardiac sciences, cosmetology, dental sciences, dermatology, oncology, orthopaedic, radiology, pulmonology, urology, and ophthalmology, among others. The company was incorporated on 28 February 1996, with its headquarters at Mohali, Punjab. As of 28 October 2022, the market capitalisation of Fortis Healthcare Limited was Rs 20,946 crore.

    The company got listed on the stock exchanges on 9 May 2007. It is currently listed on the National Stock Exchange (NSE) under the code FORTIS and the Bombay Stock Exchange (BSE) under the code 532843.

    Apart from super-speciality hospitals, Fortis Healthcare Limited also operates and runs diagnostic centres and daycare speciality facilities. The company has approximately 36 hospitals across the country with 4,000 operational beds and more than 400 diagnostic centres. Apart from India, it also operates in the United Arab Emirates (UAE) and Sri Lanka. The company’s subsidiaries include Escorts Heart Institute and Research Center Limited, Fortis Healthstaff Limited, and Fortis Asia Healthcare Pte. Limited.

    In June 2022, the company’s shareholding pattern indicated that a 31.17% stake in the company was held by promoters, a 29.66% stake was held by foreign institutional investors, a 27.73% stake was held by retail investors, a 16.25% stake was invested in mutual funds, and the remaining 1.19% was held by other domestic institutions. The company’s management team comprises Mr Ravi Rajagopal (chairman and independent director), Mr Shirish Moreshwar Apte (vice-Chairman and non-executive director), Mr Ashutosh Raghuvanshi (managing director and CEO), Mrs Suvalaxmi Chakraborty (independent director), and Mr Indrajit Banerjee (Independent Director), among others.

    On 31 October 2022, Fortis Healthcare Limited’s share price was Rs 277.45 per share at the NSE and Rs 277.30 at the BSE. The 52-week high and the 52-week low prices of this stock at the NSE were Rs 325.00 and Rs 219.75, respectively. Fortis Healthcare Limited shares have given a one-year return of 14.44%. The top peers of the company include Apollo Hospitals, Max Healthcare, Dr. Lal Pathlabs, and Narayana Hrudaya, among others.

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Registered Address

Fortis Hospital Sector-62, Phase-VIII, Mohali, Punjab, 160062

Tel : 91-172-5096001
Email : secretarial:fortishealthcare.com
Website : http://www.fortishealthcare.com

Link Intime India Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 532843
Book Closure Date (Month) :
BSE Group : A
ISIN : INE061F01013

FAQ’s on Fortis Healthcare Ltd Shares

You can buy Fortis Healthcare Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Fortis Healthcare Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Dec 08, 2023 03:55 PM the closing price of Fortis Healthcare Ltd was ₹ 382.05.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 08, 2023 03:55 PM, the market cap of Fortis Healthcare Ltd stood at ₹ 28,843.17.

The latest PE ratio of Fortis Healthcare Ltd as of Dec 08, 2023 03:55 PM is 54.71

The latest PB ratio of Fortis Healthcare Ltd as of Dec 08, 2023 03:55 PM is 0.26

The 52-week high of Fortis Healthcare Ltd is ₹ 390.00 while the 52-week low is ₹ 245.50

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