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Fortis Healthcare Ltd share Price Today

Company details

487.35
509.85
298.45
509.85
6M Return 24.59%
1Y Return 68.17%
Mkt Cap.(Cr) 37,257.18
Volume 1,255,345
Div Yield 0.20%
OI
-
OI Chg %
-
Volume 1,255,345

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Fortis Healthcare announced Q4FY24 & FY24 results:

  • Q4FY24 Consolidated Revenues increase 8.7% to Rs 1,786 crore
  • Consolidated Operating EBITDA up 40.5% to Rs 380 crore, 21.3% Margin
  • Hospital Business Revenues increase 10.3% to Rs 1,490 crore; Operating EBITDA up 50.6% to Rs 333 crore, 22.4% Margin
  • FY24 Consolidated Revenues increase 9.5% to Rs 6,893 crore
  • Consolidated Operating EBITDA up 15.1% to Rs 1,268 crore, 18.4% Margin
  • Hospital Business Revenues increase 11.3% to Rs 5,686 crore; Operating EBITDA up 22.7% to Rs 1,058 crore, 18.6% Margin
  • Board recommends dividend of Rs 1 per share (10% of Face Value)
  • The Company’s net debt as of 31st March 2024 stood at Rs 264 crore with a Net Debt to EBITDA of 0.17x as compared to the 0.30x as on 31st March 2023. (basis Q4 annualized EBITDA). Net debt to equity was at 0.03x versus 0.04x as on 31st March 2023.
  • At the consolidated level, cash flow from operations for FY24 stood at Rs 1,100 crore

Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare stated, “We have witnessed yet another year of healthy growth and profitability, reflected in the Board recommending a dividend of Rs 1 per share (10% of face value) to shareholders. This signifies the Company’s strengthening fundamentals and continuing growth prospects.

I’m pleased to share that the Company has progressed well on its strategic growth levers viz. brownfield bed expansion, portfolio rationalization and investments in medical equipment and clinical programs. Plans to ramp up current bed capacity are on track and could potentially see the Company reach a total of 5,948 beds over the next few years. We have added 246 beds in FY24 across our network and in line with our portfolio optimization strategy, have also successfully divested two of our underperforming assets in Chennai. With a focus on increasing our presence in specialities such as oncology, neurosciences and cardiac sciences, we have expanded our clinical offerings and medical programs backed by high quality clinical talent. Providing best in class clinical outcomes and a superior patient experience remain critical to our success and these are being further supplemented by digital technologies such as Electronic Medical Records (EMR) system which is gradually being rolled out across our network.

While challenges remain in the diagnostics business primarily as a result of the brand name change; the industry is witnessing signs of stabilization and gradual improvement. We believe that Agilus is well placed given its scale and size to improve its business performance going forward. The Company’s Balance Sheet remains robust enabling us to actively evaluate inorganic opportunities to further accelerate our growth momentum. I’m optimistic that with the continuing support of all our stakeholders we would progressively strengthen our performance in both the hospitals and diagnostics businesses.”

Commenting on the results for the quarter and the year, Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “The year gone by has witnessed a healthy performance led by our hospitals business. Our consolidated topline grew 9.5% to Rs 6,893 crore while our operating profitability. i.e. EBITDA increased 15.1% to Rs 1,268 crore. The hospital business contributed more than 80% to our consolidated topline while at the EBITDA level the hospital business contribution rose from 79% in FY23 to 83% in FY24.

For the quarter our hospital business revenues increased 10.3% while margins improved to 22.4% versus 16.4% in Q4FY23.The performance for the quarter was in part due to an improved specialty mix reflected in the YoY ARPOB increase of 10.3% to Rs 2.32 crore.

The year witnessed bed additions in key facilities such as in Anandpur (Kolkata), Mohali (Punjab), BG Road (Bengaluru) and Mulund (Mumbai); in addition to the commissioning of a new 70-bed facility in Ludhiana. We expect to add 700 beds in the current year out of which we plan to operationalize approx. 300 beds. This would also include the soon to be commissioned 450 bed potential Manesar, Gurugram facility which would further strengthen our presence in one of our key clusters .i.e. NCR. In order to provide advanced treatment options to our patients; we continue to upgrade our medical infrastructure, having commissioned LINACs, Cath Labs, MRI, Ortho Robots, Digital PET CT and Da Vinci Robotic Systems in a number of our facilities.

On our diagnostics business, we believe that Agilus has the potential to scale up significantly from current levels and efforts are on to strengthen its business imperatives in terms of its channel / network presence and product portfolio to drive revenues and optimize costs. I’m hopeful that both our business will further build on their FY24 performance in the current year”

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Fortis Healthcare Ltd shares SWOT Analysis

Strengths (12)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • New 52 week high today

Weakness (1)

  • Inefficient use of shareholder funds - ROE declining in the last 2 years

Opportunity (2)

  • Negative to Positive growth in Sales and Profit with Strong Price momentum
  • RSI indicating price strength

Threats (3)

  • Red Flags: Firms linked to ongoing regulatory investigations/legal cases
  • High PE (PE > 40)
  • Increasing Trend in Non-Core Income

Resistance and support

R1 514.9
R2 527.6
R3 545.6
Pivot

496.93

S1 484.3
S2 466.3
S3 453.6
EMA SMA
464.1
451.2
434.3
404.1
463.4
450.8
435.3
399.1
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
BOFA SECURITIES EUROPE SA Block Purchase 2024-04-29 441.45 314825 BSE
MY ASIAN OPPORTUNITIES MASTER FUND, L.P. Block Sell 2024-04-29 441.45 314825 BSE
SOCIETE GENERALE Block Purchase 2024-01-25 430.95 427781 BSE
Name Category Shares
NORTHERN TK VENTURE PTE.LTD. PROMOTER 31.17%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Fortis Healthcare Ltd Stocks COMPARISON

Financials( in Cr) Fortis Healthcare Ltd Apollo Hospitals Enterprise Ltd Max Healthcare Institute Ltd Global Health Ltd Narayana Hrudayalaya Ltd
Price 493.50 6,236.35 903.05 1,373.45 1,237.55
% Change -1.74 0.46 -2.68 1.27 0.02
Mcap Cr 37,257.18 89,669.36 87,768.51 36,878.09 25,290.70
Revenue TTM Cr 6,537.06 16,612.50 4,831.37 2,694.25 4,524.77
Net Profit TTM Cr 632.98 887.50 1,103.51 326.08 606.57
PE TTM 64.55 99.43 85.36 76.14 32.04
1 Year Return 68.17 24.50 54.79 109.93 25.48
ROCE 7.51 14.16 13.85 16.49 29.27
ROE 6.79 15.04 16.12 16.13 33.51
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 7,242.26 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,452.94 -2,589.17
LAST 3M 105,794.56 -32,067.62
LAST 6M 178,880.68 -18,917.36
LAST 12M 290,144.87 98,834.05

Fortis Healthcare Ltd Information

Stock PE (TTM)
64.55
Promoter Holding
31.17%
Book Value
101.501
ROCE
7.51%
ROE
6.79%
Description
  • 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; contactus:fortis
Website : http://www.fortishealthcare.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 532843
NSE Code : FORTIS
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 Jun 18, 2024 03:56 PM the closing price of Fortis Healthcare Ltd was Rs.493.50.

The latest PE ratio of Fortis Healthcare Ltd as of Jun 18, 2024 03:56 PM is 64.55

The latest PB ratio of Fortis Healthcare Ltd as of Jun 18, 2024 03:56 PM is 0.20

The 52-week high of Fortis Healthcare Ltd share price is Rs. 509.85 while the 52-week low is Rs. 298.45

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 Jun 18, 2024 03:56 PM, the market cap of Fortis Healthcare Ltd stood at Rs. 37,257.18.

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