Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q3 FY25 Earnings Presentation
35 slides from Fortis Healthcare's earnings presentation, Feb 7, 2025
Slide 1: Earnings Presentation – Q3 FY25 and 9M FY25
FORTIS HEALTHCARE LIMITED EARNINGS PRESENTATION – Q3 FY25 and 9M FY25 February 07, 2025 1
Slide 2: About Fortis Healthcare
About Fortis Healthcare National Capital Region ➢ FMRI, Gurugram 27 Healthcare Facilities* ➢ FEHI, New Delhi ➢ Shalimar Bagh 1,853 ➢ Noida ➢ Vasant Kunj (O&M) ~4,700 Operational Beds^ ➢ Faridabad ➢ Manesar, Gurugram Punjab ➢ La Femme GK ➢ Mohali ➢ Def Col 6,850+ Doctors ➢ Ludhiana 772 ➢ C-DOC (O&M)
Slide 3: 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 4: Agenda
AGENDA 1. Clinical Excellence at Fortis 2. Performance Highlights • Earnings and Financial Summary – Q3 FY25 and 9M FY25 3. Performance Review - Hospital Business 4. Performance Review - Diagnostics Business 5. Appendix 4
Slide 5: Clinical Excellence at Fortis
CLINICAL EXCELLENCE AT FORTIS KEY HIGHLIGHTS 5
Slide 6: Clinical Excellence
CLINICAL EXCELLENCE • Fortis Hospital, Gurugram, performed the first-of-its-kind complex portal vein reconstruction by innovatively utilizing the umbilical vein on a 14-year-old child suffering from chronic Budd-Chiari Syndrome, a rare disorder affecting the liver and blood vessels. • Fortis Hospita
Slide 7: Augmenting Medical Programs
AUGMENTING MEDICAL PROGRAMS ➢ Fortis Escorts, Okhla Road, Delhi, launched a next-generation surgical robot, revolutionizing Cardiothoracic & Vascular Surgery (CTVS), Urology, and GI Surgeries. This cutting-edge technology enables minimally invasive procedures with enhanced precision, faster recovery
Slide 8: Q3FY25 and 9MFY25 Performance Highlights
Q3FY25 and 9MFY25 PERFORMANCE HIGHLIGHTS 8
Slide 9: Q3FY25 Snapshot
Q3FY25 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 1,928 Crores 375 Crores 256 Crores (19.4% Margin) 14.8% 32.0% 45.7% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 231 Crores 644 Crores 0.41x vs 0.45x 82.2% 1. Excluding exceptional items 2. Basis Q3FY25 annua
Slide 10: 9MFY25 Snapshot
9MFY25 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 5,776 Crores 1,152 Crores 806 Crores (20.0% Margin) 13.1% 30.0% 40.5% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 657 Crores 644 Crores 0.41x vs 0.45x 53.1% 1. Excluding exceptional items 2. Basis Q3FY25 ann
Slide 11: Recent Key Updates
Recent Key Updates Hospital Business Diagnostics Business December 2024 and January 2025: In December 2024: Continuing with the December 2024, the company portfolio rationalization strategy, the successfully raised INR 1,550 crores company divested business operations through the issuance of Non-Con
Slide 12: Q3FY25 Snapshot
Q3FY25 SNAPSHOT ➢ Hospital business revenues grew 16.8% to INR 1,623 Cr versus INR 1,389 Cr in Q3FY24 ➢ Hospital Business Operating EBITDA stood at INR 325 Cr, up 29.8%; while operating margin was at 20.0% versus 18.0% in Q3FY24 ➢ Q3FY25 hospital business ARPOB was at INR 2.45 Cr per annum vs INR 2.
Slide 13: Consolidated Earnings Summary – Q3FY25
CONSOLIDATED EARNINGS SUMMARY – Q3FY25 All figures in INR Cr Revenue Op EBITDA & Margin 1,988 1,928 435 375 284 1,680 21.9% 19.4% 16.9% Q3FY24 Q2FY25 Q3FY25 Q3FY24 Q2FY25 Q3FY25 Up 14.8% Up 32.0% PBT before Exceptional Items PAT* 321 256 253 231 175 127 Q3FY24 Q2FY25 Q3FY25 Q3FY24 Q2FY25 Q3FY25 Up 4
Slide 14: Consolidated Earnings Summary – 9MFY25
CONSOLIDATED EARNINGS SUMMARY – 9MFY25 All figures in INR Cr. Revenue Op EBITDA & Margin 5,776 1,152 887 5,107 20.0% 17.4% 9MFY24 9MFY25 9MFY24 9MFY25 Up 13.1% Up 30.0% ` PBT before Exceptional Items PAT* 806 657 574 429 9MFY24 9MFY25 9MFY24 9MFY25 Up 40.5% Up 53.1% * 9MFY25 exceptional net loss of
Slide 15: Consolidated Earnings Summary
CONSOLIDATED EARNINGS SUMMARY All figures in INR Cr Consolidated Revenue 1,988 1,928 1,859 1,786 1,680 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Op EBITDA Margin Op EBITDA PBT (before Exceptional items) 21.9% 21.3% 19.4% 18.4% 435 16.9% 380 375 343 284 321 268 256 230 175 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25
Slide 16: Q3FY25 Hospital Business Highlights
Q3FY25 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators • Occupancy was at 67%, compared to 64% in Q3FY24. Overall Occupancy Occupied beds increased to 2,790 compared to 2,627 in Q3FY24, a 72% growth of 6.2%. 67% 64% • Revenue from focus specialties comprising Oncology, Neurosciences, Cardiac
Slide 17: Q3FY25 Diagnostic Business Highlights
Q3FY25 DIAGNOSTIC BUSINESS HIGHLIGHTS • Agilus reported gross revenue of INR 342.3 Cr in Q3 FY25 as compared to INR 330.7 Cr in Q3FY24, resulting in YoY growth of 3.5%. • Operating EBITDA (basis gross revenues) stood at INR 49.4 Cr versus INR 33.2 Cr in Q3FY24 (14.4% versus 10.0% EBITDA margin). • O
Slide 18: Operating Performance – Hospital Business
OPERATING PERFORMANCE HOSPITAL BUSINESS Hospital Business Particulars (INR Cr) Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Operating Revenue 1,389 1,655 1,623 4,196 4,827 Revenue Growth vs LY 9.6% 13.9% 16.8% 11.7% 15.0% Reported EBITDA 254 369 340 751 1,004 EBITDA growth vs LY 16.9% 27.5% 34.0% 8.5% 33.7% M
Slide 19: Operating Performance – Diagnostic Business
OPERATING PERFORMANCE DIAGNOSTIC BUSINESS Diagnostic Business Particulars (INR Cr) Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Operating Revenue 331 372 342 1,034 1,058 Revenue Growth vs LY (0.2%) 3.4% 3.5% 1.8% 2.4% Reported EBITDA 37 87 56 177 203 EBITDA growth vs LY (47.7%) 27.9% 51.1% (14.7%) 14.5% Margi
Slide 20: Balance Sheet (Consolidated)
BALANCE SHEET (CONSOLIDATED) December 31, 2024 Balance Sheet (INR Cr) Dec 31, 2023 March 31, 2024 Dec 31, 2024 Shareholder’s Equity 8,598 8,556 8,984 Debt 812 859 2,341 Lease Liabilities (Ind AS 116)* 299 297 268 Total Capital Employed 9,709 9,711 11,593 Net Fixed Assets (including intangibles & CWI
Slide 21: Performance Review – Hospitals Business
PERFORMANCE REVIEW HOSPITALS BUSINESS 21
Slide 22: Specialty Mix
SPECIALTY MIX Q3FY24 Q3FY25 Other Operating Other Operating Revenue, 1.3% Revenue, 1.7% OPD, 13.5% OPD, 13.1% Cardiac, Cardiac, 17.6% 17.2% Other IPD, Other IPD, Ortho, 8.1% 16.9% Ortho, 8.5% 17.3% Renal, 6.7% Renal, 7.4% Gynae, 3.7% Gynae, 3.3% Neuro, 8.8% Pulmo, 3.1% Neuro, 8.7% Pulmo, 3.0% Gastro
Slide 23: Payor Mix
PAYOR MIX Q3FY24 Q3FY25 TPAs, 36.0% TPAs, 36.3% Cash : Cash : Domestic, Domestic, 33.9% 35.8% Pvt Corps, Pvt Corps, 0.8% 1.0% International , International , 7.7% Govt & Govt & 7.7% PSUs, 8.5% PSUs, 8.8% ECHS, 7.7% CGHS, 4.1% ECHS, 7.1% CGHS, 4.6% 23
Slide 24: Hospital Business Performance – Q3FY25
HOSPITAL BUSINESS PERFORMANCE – Q3FY25 All the key healthcare facilities continue to witness a YoY upward momentum in revenues Revenue Q3FY24 Q3FY25 245 195 203 All figures in INR Cr. 171 163 124 127 132 120 131 128 122 106 101 75 85 56 60 48 60 FMRI Mohali Shalimar Bagh BG Road Noida Mulund FEHI An
Slide 25: Hospital Margin Matrix
HOSPITAL MARGIN MATRIX EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR Cr) Occupancy >20% 11 74.3% 2,658 2.61 72% 9MFY25* 15% - 20% 2 6.4% 379 1.48 77% 10% - 15% 3 4.4% 201 2.53 57% <10% 5^ 13.6% 830 1.96 58% ^ Note: <10% EBITDA Margin facilities include Ludhiana 2 (commissi
Slide 26: Beds Expansion Update
BEDS EXPANSION UPDATE 26
Slide 27: Key Ongoing Expansion Projects
Key Ongoing Expansion Projects Manesar Facility (~300 Beds)* – Phase 1 Operationalized (~75 Beds) Faridabad New Tower (50 Beds) – Expected operationalization Q4FY25 Expected Phase 2 Capacity Addition: H1FY26 Noida New Tower (~145 Beds) – Expected operationalization: Phase 1 and Phase 2 H1FY26 FMRI N
Slide 28: Performance Review – Diagnostics Business
PERFORMANCE REVIEW DIAGNOSTICS BUSINESS 28
Slide 29: Diagnostics Business
DIAGNOSTICS BUSINESS • During Q3FY25, Agilus conducted 10.29 Mn tests, versus 9.85 Mn in Q3FY24. • Agilus added 160+* Customer touchpoints to its network in Q3FY25. Total CTPs as on 31st December 2024 stood at 4,126. • Agilus’ B2C: B2B revenue mix stood at 51:49 in the quarter, similar to correspond
Slide 30: Quarterly Revenue Mix
QUARTERLY REVENUE MIX Geographic mix Product Mix Segment Mix International 4% Wellness 10% B2C, Q3FY25 North 51% South 30% 32% B2B, Specialised Routine 49% 33% 57% East West 13% 21% Wellness International 3% 9% B2C, Q3FY24 51% North South 32% 31% B2B, Routine 49% Specialised 55% 36% East West 13% 21
Slide 31: Quarterly Key Performance Metrics
QUARTERLY KEY PERFORMANCE METRICS Test (mn) Avg. Realization per test (INR) No of Patients (mn) Avg. Realization per patient (INR) 11.5 355 4.50 880 352 869 350 4.40 870 11 4.30 860 345 10.5 4.20 850 854 340 4.10 845 846 840 10 340 340 335 4.00 830 9.5 334 335 333 330 3.90 826 820 822 3.80 810 9 325
Slide 32: Appendix
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Slide 33: Group Consolidated P&L – Q3FY25
GROUP CONSOLIDATED P&L – Q3FY25 Particulars ( INR Cr) Q3FY24 Q2FY25 Q3FY25 Revenue from operations 1,679.7 1,988.4 1,928.3 Other income 6.8 13.2 20.9 Total income 1,686.5 2,001.6 1,949.2 Expenses 1,395.7 1,553.6 1,553.1 EBITDA* 290.8 448.1 396.0 Margin 17.3% 22.5% 20.5% Finance costs 33.0 36.4 45.2
Slide 34: Group Consolidated P&L – 9MFY25
GROUP CONSOLIDATED P&L – 9MFY25 Particulars (INR Cr) 9MFY24 9MFY25 Revenue from operations 5,107.0 5,775.6 Other income 28.5 47.1 Total income 5,135.5 5,822.7 Expenses 4,220.4 4,623.1 EBITDA* 915.1 1,199.6 Margin 17.9% 20.8% Finance costs 96.3 116.9 Depreciation and amortisation expense 250.3 283.4
Slide 35: Thank You
THANK YOU 35