Fortis Healthcare Ltd. · NSE:FORTIS
Fortis Healthcare — Q3 FY26 Earnings Presentation
35 slides from Fortis Healthcare's earnings presentation, Feb 13, 2026
Slide 1: Earnings Presentation – Q3 FY26 and 9M FY26
FORTIS HEALTHCARE LIMITED EARNINGS PRESENTATION – Q3 FY26 and 9M FY26 February 13, 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 2,123 ➢ Noida Himachal Pradesh ➢ Vasant Kunj (O&M) ➢ Kangra 81 ➢ Faridabad 6,000+ Operational Beds^ ➢ Manesar, Gurugram Punjab ➢ La Femme GK ➢ Mohali ➢ Def Col ➢ Ludhiana 964 ➢
Slide 4: Agenda
AGENDA 1. Performance Highlights • Earnings and Financial Summary – Q3FY26 and 9MFY26 2. Performance Review - Hospital Business 3. Performance Review - Diagnostics Business 4. Clinical Excellence at Fortis 5. Appendix 4
Slide 5: Performance Highlights Q3FY26 and 9MFY26
Q3FY26 and 9MFY26 PERFORMANCE HIGHLIGHTS 5
Slide 6: Q3FY26 Snapshot
Q3FY26 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 2,265 Crores 505 Crores 312 Crores (22.3% Margin) 17.5% 34.8% 21.9% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 243 Crores 2,547 Crores 1.24x vs 0.41x 5.6% 1. Excluding exceptional items 2. Basis Q3FY26 annu
Slide 7: 9MFY26 Snapshot
9MFY26 SNAPSHOT Consolidated Revenue Consolidated Op EBITDA Consolidated PBT1 6,763 Crores 1,553 Crores 1,051 Crores (23.0% Margin) 17.1% 34.7% 30.4% Consolidated PAT1 Net Debt / (Cash)3 Net Debt to EBITDA2,3 803 Crores 2,547 Crores 1.24x vs 0.41x 22.2% 1. Excluding exceptional items 2. Basis Q3FY26
Slide 8: Key Updates
KEY UPDATES Acquisition of People Tree Hospital, Yeshwanthpur, Bengaluru Dec’25 / Jan’26 : In Dec’25, Fortis through its wholly-owned subsidiary signed definitive agreements to acquire the 125- bedded People Tree Hospital in Yeshwanthpur, Bengaluru, for INR 430 Cr, through a 100% acquisition of TMI
Slide 9: Q3FY26 Snapshot
Q3FY26 SNAPSHOT ➢ Hospital business revenues grew 19.4% to INR 1,938 Cr versus INR 1,623 Cr in Q3FY25 ➢ Hospital Business Operating EBITDA stood at INR 420 Cr, up 28.9%; while operating EBITDA margin was at 21.7% versus 20.0% in Q3FY25 ➢ Q3FY26 hospital business ARPOB was at INR 2.56 Cr per annum vs
Slide 10: Consolidated Earnings Summary – Q3FY26
CONSOLIDATED EARNINGS SUMMARY – Q3FY26 All figures in INR Cr Revenue Op EBITDA & Margin 2,331 556 2,265 505 1,928 375 22.3% 23.9% 19.4% Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Up 17.5% Up 34.8% PBT before Exceptional Items PAT* 305 402 231 243 312 256 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Up 2
Slide 11: Consolidated Earnings Summary – 9MFY26
CONSOLIDATED EARNINGS SUMMARY – 9MFY26 All figures in INR Cr. Revenue Op EBITDA & Margin 6,763 1,553 1,152 5,776 23.0% 20.0% 9MFY25 9MFY26 9MFY25 9MFY26 Up 17.1% Up 34.7% PBT before Exceptional Items PAT* 1,051 803 806 657 9MFY25 9MFY26 9MFY25 9MFY26 Up 30.4% Up 22.2% * 9MFY26 PAT excludes exception
Slide 12: Consolidated Earnings Summary
CONSOLIDATED EARNINGS SUMMARY All figures in INR Cr Consolidated Revenue 2,331 2,265 2,167 1,928 2,007 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Op EBITDA Margin Op EBITDA PBT (before Exceptional items) 23.9% 22.6% 22.3% 21.7% 556 19.4% 491 505 435 375 402 338 312 290 256 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26
Slide 13: Q3FY26 Hospital Business Highlights
Q3FY26 HOSPITAL BUSINESS HIGHLIGHTS Key Performance Indicators • Occupancy was at 67%, similar to Q3FY25. Occupied beds Overall Occupancy increased to 3,189 compared to 2,790 in Q3FY25, a growth of 71% 14.3%. 67% 67% • Revenue from focus specialties comprising Oncology, Neurosciences, Cardiac Scienc
Slide 14: Q3FY26 Diagnostic Business Highlights
Q3FY26 DIAGNOSTIC BUSINESS HIGHLIGHTS • Agilus gross revenues grew 8.3% to INR 371 Cr in Q3FY26 versus INR 342 Cr in Q3FY25 • Operating EBITDA stood at INR 86 Cr in Q3FY26 versus INR 49 Cr in Q3FY25 • Operating EBITDA Margin (basis gross revenues) stood at 23.1% versus 14.4% in Q3FY25. Excluding one
Slide 15: Operating Performance – Hospital Business
OPERATING PERFORMANCE HOSPITAL BUSINESS Hospital Business Particulars (INR Cr) Q3FY25 Q2FY26 Q3FY26 9MFY25 9MFY26 Operating Revenue 1,623 1,974 1,938 4,827 5,749 Revenue Growth vs LY 16.8% 19.3% 19.4% 15.0% 19.1% Reported EBITDA 340 483 424 1,004 1,322 EBITDA growth vs LY 34.0% 30.9% 24.8% 33.7% 31.
Slide 16: Operating Performance – Diagnostic Business
OPERATING PERFORMANCE DIAGNOSTIC BUSINESS Diagnostic Business Particulars (INR Cr) Q3FY25 Q2FY26 Q3FY26 9MFY25 9MFY26 Operating Revenue 342 400 371 1,058 1,139 Revenue Growth vs LY 3.5% 7.3% 8.3% 2.4% 7.7% Reported EBITDA 56 113 92 203 297 EBITDA growth vs LY 51.1% 30.9% 64.2% 14.5% 46.2% Margin 16.
Slide 17: Balance Sheet (Consolidated)
BALANCE SHEET (CONSOLIDATED) December 31, 2025 Balance Sheet (INR Cr) Dec 31, 2024 Mar 31, 2025 Dec 31, 2025 Shareholder’s Equity 8,984 9,169 9,895 Debt 2,341 2,196 2,924 Lease Liabilities (Ind AS 116)* 268 280 575 Total Capital Employed 11,593 11,645 13,394 Net Fixed Assets (including intangibles &
Slide 18: Performance Review – Hospitals Business
PERFORMANCE REVIEW HOSPITALS BUSINESS 18
Slide 19: Specialty Mix
SPECIALTY MIX Q3FY25 Q3FY26 Other Operating Other Operating Revenue, 1.7% Revenue, 1.6% OPD, 13.1% OPD, 14.0% Cardiac, Cardiac, 17.1% 17.2% Other IPD, Ortho, 8.1% Ortho, 8.1% Other IPD, 17.3% 16.7% Renal, 6.7% Renal, 7.1% Gynae, 3.3% Gynae, 3.3% Neuro, 8.9% Neuro, 8.9% Pulmo, 3.0% Pulmo, 3.2% Gastro
Slide 20: Payor Mix
PAYOR MIX Q3FY25 Q3FY26 TPAs, 36.0% TPAs, 36.3% Cash : Cash : Domestic, Domestic, 33.9% 33.3% Pvt Corps, 1.0% International , Pvt Corps, 1.2% International , 7.7% 7.7% Govt & Govt & PSUs, 8.8% ECHS, 7.7% PSUs, 8.9% ECHS, 7.8% CGHS, 4.6% CGHS, 5.1% 20
Slide 21: Hospital Business Performance – Q3FY26
HOSPITAL BUSINESS PERFORMANCE – Q3FY26 Key healthcare facilities continue to witness a YoY upward momentum in revenues Revenue Q3FY25 Q3FY26 275 245 203 218 All figures in INR Cr. 181 163 158 146 132 142 139 131 128 122 103 85 60 70 60 70 FMRI Mohali Shalimar Bagh Noida Mulund BG Road FEHI Anandpur
Slide 22: Hospital Margin Matrix
HOSPITAL MARGIN MATRIX EBITDA No of Facilities Revenue Contribution Operational beds ARPOB (INR Cr) Occupancy >20% 13 76.8% 3,222 2.65 72% 9MFY26 15% - 20% 4 11.6% 559 2.50 68% 10% - 15% 1 2.1% 119 2.18 64% <10% 5^ 8.3% 738 1.63 57% ^ Note: <10% EBITDA Margin facilities include Manesar (commissioned
Slide 23: Beds Expansion Update
BEDS EXPANSION UPDATE 23
Slide 24: Key Ongoing Expansion Projects
Key Ongoing Expansion Projects Manesar Facility (~300 Beds)* – Noida New Tower (~150 Beds) – 175 Bed Capacity added till Dec’25 ~73 Beds operationalized: H1FY26 Remaining Capacity Addition: Q4FY26 ~50 Beds Expected operationalization: Q4FY26 ~27 Beds Expected operationalization: H1FY27 FMRI New Beds
Slide 25: Performance Review – Diagnostics Business
PERFORMANCE REVIEW DIAGNOSTICS BUSINESS 25
Slide 26: Diagnostics Business
DIAGNOSTICS BUSINESS • During Q3FY26, Agilus conducted 9.94 Mn tests, versus 9.59 Mn in Q3FY25 • Agilus added 175+ Customer touchpoints^ to its network in Q3FY26 • Agilus’ B2C : B2B revenue mix stood at 52:48 in the quarter compared to 51:49 in Q3FY25 • Operating EBITDA INR 86 Cr in Q3FY26 versus IN
Slide 27: Quarterly Revenue Mix
QUARTERLY REVENUE MIX Geographic mix Product Mix Segment Mix International 5% Wellness 12% North B2C, Q3FY26 29% 52% South 34% Routine B2B, 53% 48% Specialised 35% East 12% West 20% International 4% Wellness 10% North Q3FY25 30% B2C, 51% South 32% B2B, Specialised Routine 49% 33% 57% East West 13% 2
Slide 28: Quarterly Key Performance Metrics
QUARTERLY KEY PERFORMANCE METRICS Test (mn) Avg. Realization per test (INR) No of Patients (mn) Avg. Realization per patient (INR) 10.8 380 4.50 910 4.40 900 10.6 375 890 903 900 890 10.4 375 4.30 370 880 10.2 4.20 878 369 870 10 365 4.10 365 860 9.8 363 360 4.00 850 9.6 854 3.90 357 357 355 846 840
Slide 29: Clinical Excellence at Fortis
CLINICAL EXCELLENCE AT FORTIS KEY HIGHLIGHTS 29
Slide 30: Augmenting Medical Programs
AUGMENTING MEDICAL PROGRAMS ➢ Fortis Hospital, Bannerghatta Road, Bengaluru, launched a dedicated Advanced Spine Centre to provide comprehensive, multidisciplinary care for patients with spine-related disorders ➢ Fortis Hospital, Gurugram, launched an Ocular Oncology Clinic offering comprehensive ca
Slide 31: Clinical Excellence
CLINICAL EXCELLENCE • Fortis Hospital, Gurugram, performed a heart transplant on a 48-year-old woman with end-stage Dilated Cardiomyopathy and a critically low 15% heart function. • Fortis Hospital, Anandpur, Kolkata, performed a complex open heart surgery, including Aortic Valve Replacement, on a 5
Slide 32: Appendix
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Slide 33: Group Consolidated P&L – Q3FY26
GROUP CONSOLIDATED P&L – Q3FY26 Particulars ( INR Cr) Q3FY25 Q2FY26 Q3FY26 Revenue from operations 1,928.3 2,331.4 2,265.0 Other income 20.9 22.6 8.3 Total income 1,949.2 2,354.0 2,273.3 Expenses 1,553.1 1,775.1 1,759.4 EBITDA* 396.0 578.9 513.9 Margin 20.5% 24.8% 22.7% Finance costs 45.2 74.9 85.7
Slide 34: Group Consolidated P&L – 9MFY26
GROUP CONSOLIDATED P&L – 9MFY26 Particulars (INR Cr) 9MFY25 9MFY26 Revenue from operations 5,775.6 6,763.2 Other income 47.1 46.3 Total income 5,822.7 6,809.4 Expenses 4,623.1 5,210.5 EBITDA* 1,199.6 1,598.9 Margin 20.8% 23.6% Finance costs 116.9 230.2 Depreciation and amortisation expense 283.4 327
Slide 35: Thank You
THANK YOU 35