Fortis Healthcare Ltd.

•

fortishealthcare.comBSE: 532843NSE: FORTIS

Market Cap₹ 66,987 Cr.

Current Price

High / Low₹ 1,104 / 767

Stock P/E63.9

Book Value₹ 135

Price to Book6.06

Dividend Yield0.11 %

ROCE14.1 %

ROE11.3 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Healthcare: 83.6% • Diagnostics: 16.4%

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 17.8% CAGR over last 5 years
Operating margins have improved to 22.8% from 18.5%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.64x)
Working capital cycle has improved - days down from -6 to -12
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 9.9% over last 3 years
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 6.1x its book value
Total debt has risen sharply - up 30.9% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcareHospital & Healthcare Services

Part ofNIFTYM150MOMNTM50 NIFTY ALPHA 50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100

S.No.	Name
1.	APOLLOHOSP	8850.00	60.90	127249.42	0.23	610.40	38.41	7043.50	20.56	21.73	15.70
2.	MAXHEALTH	1037.20	69.29	100951.74	0.19	322.96	4.87	2366.17	16.70	14.97	25.29
3.	MANIPALHOS	716.15	105.57	94200.74	0.00	2434.30	—	30906.30	—	13.93	23.83
4.	FORTIS	887.30	63.93	66987.44	0.11	272.80	2.26	2545.03	17.46	14.07	21.28
5.	ASTERDM	762.95	208.69	66504.25	0.39	29.28	-68.70	1310.68	21.60	11.26	19.53
6.	MEDANTA	1447.55	69.98	38920.53	0.03	157.25	-1.09	1304.05	26.50	19.38	21.99
7.	NH	1867.35	46.76	38161.31	0.24	207.27	5.37	2683.63	78.05	16.20	17.43
8.	KIMS	768.85	158.06	32292.20	0.00	37.40	-56.00	1179.50	35.33	11.51	19.03
9.	LALPATHLAB	1909.40	59.14	32049.05	1.07	1705.00	1172.39	7977.00	1090.95	29.56	31.03
10.	AGARWALEYE	507.00	108.33	16073.23	0.00	55.02	44.56	614.02	25.97	16.14	27.75
11.	VIJAYA	1502.30	82.53	15473.35	0.13	53.10	37.61	230.98	22.83	30.28	42.66
12.	RAINBOW	1443.40	51.37	14660.13	0.24	62.54	16.23	469.99	33.17	28.25	28.65

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,657	1,770	1,680	1,786	1,859	1,988	1,928	2,007	2,167	2,331	2,265	2,365	2,545
	1,385	1,440	1,396	1,405	1,516	1,554	1,553	1,572	1,676	1,775	1,759	1,832	2,210
Operating Profit	272	330	284	381	343	435	375	435	491	556	506	532	335
OPM %	16.44%	18.65%	16.91%	21.34%	18.43%	21.87%	19.45%	21.70%	22.65%	23.86%	22.32%	22.51%	13.16%
	10	17	15	13	13	-47	45	-34	28	46	-38	-8	5
Interest	31	32	33	35	35	36	45	68	70	75	86	84	80
Depreciation	79	84	87	92	91	95	97	102	101	106	120	122	122
Profit before Tax	171	231	179	267	229	257	277	232	348	422	262	318	363
Tax %	27.30%	21.09%	27.39%	25.55%	24.44%	26.47%	9.05%	20.93%	24.10%	22.90%	26.05%	16.67%	24.89%
Net Profit	0	0	0	0	174	193	254	188	267	329	197	271	273
	1.48	2.30	1.78	2.37	2.20	2.34	3.28	2.44	3.45	4.26	2.57	3.52	3.53

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,574	4,561	4,469	4,632	4,030	5,718	6,298	6,893	7,783	9,128	9,506
	4,221	4,288	4,244	4,023	3,626	4,649	5,196	5,625	6,195	7,043	7,577
Operating Profit	353	273	225	610	404	1,069	1,101	1,268	1,588	2,085	1,929
OPM %	7.72%	5.99%	5.04%	13.16%	10.04%	18.70%	17.49%	18.39%	20.40%	22.84%	20.29%
	164	-741	-130	114	48	342	135	54	-22	28	5
Interest	229	258	337	205	166	147	129	131	184	314	325
Depreciation	222	239	233	292	291	301	316	342	386	449	470
Profit before Tax	552	-912	-110	239	43	988	814	858	1,007	1,366	1,365
Tax %	13.12%	-2.48%	-103.19%	61.78%	229.73%	20.03%	22.21%	24.80%	19.63%	22.09%	22.58%
Net Profit	479	-934	-224	91	-56	790	633	645	809	1,064	1,057
EPS	8.87	-19.46	-4.91	0.77	-1.45	7.35	7.80	7.93	10.26	13.80	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.82%	12.61%	9.75%	7.25%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 18%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 50%
5 Years:: —
3 Years:: 21%

STOCK PRICE CAGR

10 Years:: 18%
5 Years:: 26%
3 Years:: 38%
1 Year:: -8%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 10%
3 Years:: 10%
Last Year:: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	518	519	755	755	755	755	755	755	755	755
Minority Interest	1,167	1,255	512	544	598	830	858	893	253	273
	4,608	3,515	5,822	5,902	5,363	5,422	6,486	6,906	8,160	9,139
	2,237	1,974	2,035	1,539	3,131	3,298	2,497	1,055	2,355	3,258
Trade Payables	589	763	754	598	548	661	714	728	808	943
	365	301	1,609	1,617	390	551	779	2,634	1,046	1,465
Total Liabilities	9,484	8,327	11,486	10,955	10,784	11,516	12,089	12,971	13,377	15,833
	5,419	4,992	8,477	8,802	8,799	9,416	9,426	9,874	10,424	12,230
Capital Work in Progress	235	194	421	189	163	193	228	540	404	432
	1,878	1,732	270	175	186	104	210	230	169	243
	62	67	57	78	77	123	123	107	115	135
	0	0	0	0	0	0	0	628	784	1,044
Cash & Bank	546	220	856	266	417	413	363	598	508	544
	1,343	1,122	1,406	1,445	1,143	1,267	1,739	994	972	1,205
Total Assets	9,484	8,327	11,486	10,955	10,784	11,516	12,089	12,971	13,377	15,833

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,078	513	69	511	438	1,077	1,096	1,100	1,424	1,601
Cash from Investing	-1,002	-335	-3,323	60	-135	-514	-374	-886	-779	-1,538
Cash from Financing	259	-672	4,257	-862	-143	-517	-471	-86	-714	164
	224	-515	755	-630	207	-166	-23	127	-69	227

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.17	31.17	31.17	31.17	31.17	31.17	31.17	31.17	31.17
	23.31	25.26	26.77	27.40	27.18	27.90	27.84	25.98	25.20
	32.31	30.73	30.05	29.46	29.79	29.14	29.33	31.35	32.23
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	13.22	12.84	12.01	11.97	11.87	11.79	11.67	11.51	11.40

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

General Updates

2026-09-11 - Fortis Healthcare Limited has informed the Exchange about General Updates

2026-09-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-10 - Fortis Healthcare Limited has informed the Exchange about Transcript of Investors / Analysts meet held on Friday, September 4, 2026, on the recent developments

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Fortis Healthcare Limited has informed the Exchange about Revised Intimation for Schedule of Investors meet

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Fortis Healthcare Limited has informed the Exchange about revised intimation for Schedule of Investor meet

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Fortis Healthcare Limited has informed the Exchange about Schedule of meet

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Fortis Healthcare Limited has informed the Exchange about Schedule of meets.

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Fortis Healthcare Limited has informed the Exchange about Link of Recording

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Fortis Healthcare Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

2026-09-01 - Fortis Healthcare Limited has informed the Exchange Regarding Order Passed By The Hon Ble Delhi High Court In Relation To Certain Applications Filed By Daiichi Sankyo Company, Limited Inter Alia The Company. Detailed Disclosure Is Attached.

News

Recent coverage and analyst commentary for FORTIS

Loading news…

🤖

AI Stock Analyst

Fortis Healthcare Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account