Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q4 FY26 Earnings Presentation
43 slides from Fortis Healthcare's earnings presentation, May 22, 2026
Slide 1: Earnings Presentation – Q4 FY26 and FY26
FORTIS HEALTHCARE LIMITED EARNINGS PRESENTATION – Q4 FY26 and FY26 May 22, 2026 1
Slide 2: Disclaimer
DISCLAIMER This presentation may not be copied, published, distributed or transmitted. The presentation has been prepared solely by the company. Any reference in this presentation to “Fortis Healthcare Limited” shall mean, collectively, the Company and its subsidiaries. This presentation has been pr
Slide 3: About Fortis Healthcare
About Fortis Healthcare National Capital Region ➢ FMRI, Gurugram ➢ FEHI, New Delhi 36 Healthcare Facilities ➢ Shalimar Bagh 2,161 ➢ Noida Himachal Pradesh ➢ Vasant Kunj (O&M) ➢ Kangra 81 ➢ Faridabad ~6,100 Operational Beds^ ➢ Manesar, Gurugram Punjab ➢ La Femme GK ➢ Mohali ➢ Def Col ➢ Ludhiana 967 ➢
Slide 4: Agenda
AGENDA 1. Performance Highlights • Earnings and Financial Summary – Q4FY26 and FY26 2. Performance Review - Hospital Business • Beds Expansion Update • ESG Highlights 3. Performance Review - Diagnostics Business 4. Clinical Excellence at Fortis 5. Appendix 4
Slide 5: Q4FY26 and FY26 Performance Highlights
Q4FY26 and FY26 PERFORMANCE HIGHLIGHTS 5
Slide 6: Business Performance
BUSINESS PERFORMANCE Consolidated (INR Cr) % Revenue 9,128 Growth YoY 7,783 2,085 (22.8%) 6,893 6,298 1,588 (20.4%) 1,268 (18.4%) 1,101 (17.5%) 1,064 809 633 645 9.5 12.9 17.3 FY23 FY24 FY25 FY26 Revenue Op. EBITDA Reported PAT (XX%) Op. EBITDA margin Hospital Business (INR Cr) 2500 7,773 % Revenue
Slide 7: Q4FY26 Snapshot
Q4FY26 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 2,365 Crores 531 Crores 337 Crores (22.5% Margin) 17.8% 22.2% 16.1% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 284 Crores 2,334 Crores 1.09x vs 0.93x 17.4% 1. Excluding exceptional items 2. Basis Q4 annuali
Slide 8: FY26 Snapshot
FY26 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 9,128 Crores 2,085 Crores 1,388 Crores (22.8% Margin) 17.3% 31.3% 26.6% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 1,086 Crores 2,334 Crores 1.09x vs 0.93x 20.9% Board recommends dividend of INR 1 per share (
Slide 9: Key Updates – FY26
Key Updates – FY26 Acquisition of People Tree Long-Term Lease for 200- Acquisition of Shrimann Hospital, Bengaluru Bedded Greater Noida Hospital Hospital, Punjab Jan’26: Fortis acquired the 125-bedded Sep’25: Fortis signed a 15-year Jul’25: Fortis consummated People Tree Hospital in Yeshwanthpur, le
Slide 10: Q4FY26 Snapshot
Q4FY26 SNAPSHOT ➢ Hospital business revenues grew 19.0% to INR 2,023 Cr versus INR 1,701 Cr in Q4FY25 ➢ Hospital Business Operating EBITDA stood at INR 446 Cr, up 19.9%; while operating margin was at 22.1% versus 21.9% in Q4FY25 ➢ Q4FY26 hospital business ARPOB was at INR 2.56 Cr per annum vs INR 2.
Slide 11: FY26 Snapshot
FY26 SNAPSHOT ➢ Hospital business revenue at INR 7,773 Cr versus INR 6,528 Cr in FY25, a growth of 19.1% ➢ Hospital business Operating EBITDA at INR 1,724 Cr versus INR 1,339 Cr in FY25, a growth of 28.7%; Margin at 22.2% vs 20.5% in FY25 ➢ FY26 hospital business ARPOB at INR 2.51 Cr vs INR 2.42 Cr
Slide 12: Consolidated Earnings Summary – Q4FY26
CONSOLIDATED EARNINGS SUMMARY – Q4FY26 All figures in INR Cr Revenue Op EBITDA & Margin 2,365 2,265 505 531 435 22.5% 2,007 22.3% 21.7% Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Up 17.8% Up 22.2% PBT before Exceptional Items PAT* 337 284 242 243 312 290 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Up 1
Slide 13: Consolidated Earnings Summary – FY26
CONSOLIDATED EARNINGS SUMMARY – FY26 All figures in INR Cr. Revenue Op EBITDA & Margin 9,128 2,085 1,588 22.8% 7,783 20.4% FY25 FY26 FY25 FY26 Up 17.3% Up 31.3% PBT before Exceptional Items PAT* 1,388 1,086 1,096 899 FY25 FY26 FY25 FY26 Up 26.6% Up 20.9% * FY26 PAT excludes exceptional net loss of I
Slide 14: Consolidated Earnings Summary
CONSOLIDATED EARNINGS SUMMARY All figures in INR Cr Consolidated Revenue 2,331 2,365 2,265 2,167 2,007 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Op EBITDA Margin Op EBITDA PBT (before Exceptional items) 23.9% 22.6% 22.3% 22.5% 21.7% 556 505 531 491 435 402 338 312 337 290 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26
Slide 15: Hospital Business Highlights – Q4FY26
Q4FY26 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators • Occupancy was at 68%, compared to 69% in Q4FY25. Overall Occupancy Occupied beds increased to 3,339 compared to 2,855 in Q4FY25, a 69% 68% 67% growth of 17.0%. • Revenue from focus specialties comprising Oncology, Neurosciences, Cardia
Slide 16: Hospital Business Highlights – FY26
FY26 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators Overall Occupancy • Occupancy was at 68%, compared to 69% in FY25. 69% 68% Occupied beds increased to 3,270 compared to 2,838 in FY25, a growth of 15.2%. • Revenue from focus specialties comprising Oncology, Neurosciences, Cardiac Sciences
Slide 17: Diagnostic Business Highlights – Q4FY26
Q4FY26 DIAGNOSTIC BUSINESS HIGHLIGHTS • Agilus reported gross revenue of INR 387 Cr in Q4FY26 as compared to INR 348 Cr in Q4FY25, a growth of 11%. • Operating EBITDA stood at INR 85 Cr in Q4FY26 versus INR 63 Cr in Q4FY25. • Operating EBITDA Margin (basis gross revenues) stood at 22.0% versus 18.0%
Slide 18: Diagnostic Business Highlights – FY26
FY26 DIAGNOSTIC BUSINESS HIGHLIGHTS • Agilus reported gross revenue of INR 1,527 Cr in FY26 as compared to INR 1,407 Cr in FY25, a growth of 9%. • Operating EBITDA stood at INR 360 Cr in FY26 versus INR 249 Cr in FY25. • Operating EBITDA Margin (basis gross revenues) stood at 23.6% in FY26 versus 17
Slide 19: Operating Performance – Hospital Business
OPERATING PERFORMANCE HOSPITAL BUSINESS Hospital Business Particulars (INR Cr) Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Operating Revenue 1,701 1,938 2,023 6,528 7,773 Revenue Growth vs LY 14.2% 19.4% 19.0% 14.8% 19.1% Reported EBITDA 384 424 446 1,388 1,768 EBITDA growth vs LY 13.2% 24.8% 16.1% 27.3% 27.3% M
Slide 20: Operating Performance – Diagnostic Business
OPERATING PERFORMANCE DIAGNOSTIC BUSINESS Diagnostic Business Particulars (INR Cr) Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Operating Revenue 348 371 387 1,407 1,527 Revenue Growth vs LY 3.0% 8.3% 11.1% 2.5% 8.5% Reported EBITDA 71 92 97 274 393 EBITDA growth vs LY 37.9% 64.2% 35.7% 19.8% 43.5% Margin 20.4% 2
Slide 21: Balance Sheet (Consolidated)
BALANCE SHEET (CONSOLIDATED) March 31, 2026 Balance Sheet (INR Cr) Mar 31, 2025 Dec 31, 2025 Mar 31, 2026 Shareholder’s Equity 9,169 9,895 10,168 Debt 2,196 2,924 2,872 Lease Liabilities (Ind AS 116)* 280 575 600 Total Capital Employed 11,645 13,394 13,640 Net Fixed Assets (including intangibles & C
Slide 22: Performance Review – Hospitals Business
PERFORMANCE REVIEW HOSPITALS BUSINESS 22
Slide 23: Specialty Mix
SPECIALTY MIX FY25 FY26 Other Operating Other Operating Revenue, 1.9% Revenue, 1.7% OPD, 13.4% OPD, 14.0% Cardiac, Cardiac, 17.2% 17.3% Other IPD, Ortho, 8.6% Other IPD, Ortho, 8.8% 16.6% 16.2% Renal, 6.9% Renal, 7.1% Gynae, 3.3% Gynae, 3.2% Neuro, 8.8% Neuro, 8.5% Pulmo, 2.9% Pulmo, 3.0% Gastro, 5.
Slide 24: Payor Mix
PAYOR MIX FY25 FY26 TPAs, 36.3% TPAs, 36.2% Cash : Cash : Domestic, Domestic, 34.3% 34.0% Pvt Corps, Pvt Corps, 1.0% International , 1.2% International , Govt & 7.8% Govt & 7.8% PSUs, 8.7% ECHS, 7.4% PSUs, 8.7% ECHS, 7.3% CGHS, 4.5% CGHS, 4.7% 24
Slide 25: Hospital Business Performance – Q4FY26 & FY26
HOSPITAL BUSINESS PERFORMANCE – Q4FY26 & FY26 Key healthcare facilities continue to witness a YoY and QoQ upward momentum in revenues Revenue Q4FY25 Q4FY26 286 All figures in INR Cr. 262 203 217 172 181 163 157 154 140 146 152 135 125 95 107 60 75 53 70 FMRI Mohali Shalimar Bagh Noida BG Road FEHI M
Slide 26: Hospital Business Performance – FY26
HOSPITAL BUSINESS PERFORMANCE – FY26 4.74 ARPOB (INR Cr per annum) FY25 FY26 4.21 3.41 3.45 3.12 3.18 3.01 3.02 2.96 2.42 2.60 2.38 2.20 2.35 1.67 1.80 1.71 1.46 1.63 1.64 FMRI Mohali Shalimar Bagh Noida BG Road FEHI Mulund Anandpur Faridabad Jaipur Occupancy (%) FY25 FY26 81% 82% 82% 77% 78% 78% 76
Slide 27: Hospital Margin Matrix
HOSPITAL MARGIN MATRIX EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR Cr) Occupancy >20% 13 76.2% 3,238 2.66 72% FY26 15% - 20% 4 11.6% 559 2.52 69% 10% - 15% 1 2.2% 119 2.21 67% <10% 6^ 8.8% 875 1.62 52% ^ Note: <10% EBITDA Margin facilities include Yeshwanthpur (acquired
Slide 28: Beds Expansion Update
BEDS EXPANSION UPDATE 28
Slide 29: Beds Expansion Plan
Beds Expansion Plan No. of Operational Beds Planned capacity addition of ~1,800 beds from FY27 to FY30 New Operational Bed Addition (excluding any future inorganic growth opportunities) O&M Beds New O&M Bed Addition (Net)^ CAGR : 6.5% 1,184 1,184 7,064 523 1,184 6,774 793 661 4,968 4,175 FY25 FY26 F
Slide 30: ESG Highlights
ESG HIGHLIGHTS 30
Slide 31: ESG Highlights
ESG HIGHLIGHTS Environment Energy Water Waste Stewardship Improved per occupied bed energy Compostable plastics bags are being STP eject water is being recycled for consumption in FY26 by another gardening, cooling towers & flushing used at all units for general waste – 3.68% YoY, cumulating to 13.1
Slide 32: Performance Review – Diagnostics Business
PERFORMANCE REVIEW DIAGNOSTICS BUSINESS 32
Slide 33: Diagnostics Business – Q4FY26
DIAGNOSTICS BUSINESS – Q4FY26 Q4FY26 • During Q4FY26, Agilus conducted 10.06 Mn tests, versus 9.59 Mn in Q4FY25. • Agilus added 125+ Customer touchpoints* to its network in Q4FY26. • Agilus’ B2C: B2B revenue mix stood at 53:47 in Q4FY26 compared to 51:49 in Q4FY25. Test (mn) Avg. Realization per tes
Slide 34: Diagnostics Business – FY26
DIAGNOSTICS BUSINESS – FY26 FY26 • During FY26, Agilus conducted 40.8 Mn tests, versus 39.2 Mn in FY25. • Agilus added 675+ Customer touchpoints* to its network in FY26. Total CTPs as on 31st March 2026 stood at 4,445. • Agilus’ B2C: B2B revenue mix stood at 52:48 in FY26, similar to FY25. Test (mn)
Slide 35: Yearly Revenue Mix
YEARLY REVENUE MIX Geographic mix Product Mix Segment Mix International 4% Wellness 13% B2C, North 52% FY26 30% South 33% Routine B2B, 53% 48% Specialised 34% East 13% West 20% International 3% Wellness 11% North 31% B2C, FY25 52% South 31% B2B, Specialised Routine 48% 34% 55% East West 13% 21% 35
Slide 36: Clinical Excellence at Fortis
CLINICAL EXCELLENCE AT FORTIS KEY HIGHLIGHTS 36
Slide 37: Clinical Excellence – FY26 Key Procedures
CLINICAL EXCELLENCE FY26 Performance – Key Procedures 75,900+ 35,200+ 10,200+ Cardiac Procedures1 Joint Replacements and Robotic Surgeries3 Other Ortho Procedures ~1,100 ~10,400 15,000+ Transplants2 Neuro and Spine Radiation Therapy Surgeries Patients Note: FY26 witnessed YoY growth across key proce
Slide 38: Clinical Excellence
CLINICAL EXCELLENCE Q4 FY26 • Fortis Hospital, Gurugram, performed complex hybrid cardiac surgery, combining open bypass surgery with minimally invasive endovascular repair, on a 29-year-old suffering from a ruptured and massively dilated thoracic abdominal aorta, a condition associated with extreme
Slide 39: Augmenting Medical Programs
AUGMENTING MEDICAL PROGRAMS During the year, the Company augmented its medical infrastructure by commissioning several high-end equipment including: ➢ Second Da Vinci Xi Robotic Surgical System at Fortis Hospitals in Gurugram, Mohali, BG Road and first one at Fortis Hospital, Manesar ➢ SSI Mantra Ro
Slide 40: Appendix
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Slide 41: Group Consolidated P&L – Q4FY26
GROUP CONSOLIDATED P&L – Q4FY26 Particulars ( INR Cr) Q4FY25 Q3FY26 Q4FY26 Revenue from operations 2,007.2 2,265.0 2,364.7 Other income 19.8 8.3 4.4 Total income 2,027.0 2,273.3 2,369.1 Expenses 1,571.7 1,759.4 1,832.3 EBITDA* 455.3 513.9 536.7 Margin 22.7% 22.7% 22.7% Finance costs 67.6 85.7 84.3 D
Slide 42: Group Consolidated P&L – FY26
GROUP CONSOLIDATED P&L – FY26 Particulars (INR Cr) FY25 FY26 Revenue from operations 7,782.8 9,127.8 Other income 66.9 50.7 Total income 7,849.7 9,178.5 Expenses 6,194.8 7,042.9 EBITDA* 1,654.9 2,135.6 Margin 21.3% 23.4% Finance costs 184.4 314.5 Depreciation and amortisation expense 385.6 449.4 PBT
Slide 43: Thank You
THANK YOU 43