Q1 2026 Fortis Healthcare Ltd Earnings Call Transcript
Key Points
- Fortis Healthcare Ltd (BOM:532843) reported a consolidated top line growth of 16.6% year-on-year, reaching INR2,167 crores for Q1 FY26.
- The Hospital business revenue grew by 18.6% to INR1,838 crores, contributing 85% to the consolidated revenue.
- Consolidated operating EBITDA increased by 43.2% to INR491 crores, with a margin improvement from 18.4% to 22.6%.
- The company successfully acquired Shrimann Superspecialty Hospital, adding 228 beds and expanding its presence in Punjab.
- Fortis Healthcare Ltd entered into an operations and maintenance agreement with Gleneagles India, managing 700 beds across five hospitals, enhancing its operational footprint.
- Net debt increased to INR1,869 crores, with a net debt-to-EBITDA ratio rising to 0.92x from 0.22x, primarily due to acquisitions.
- The Diagnostics business reported a modest revenue growth of 6.3%, indicating slower growth compared to the Hospital segment.
- Occupancy at some facilities like BG Road and Mulund remained below 60%, indicating underutilization.
- The company faces challenges in maintaining a balanced payer mix, with limited ability to reduce the share of government business.
- Despite improvements, some facilities like the Manesar unit are still operating at a negative EBITDA, indicating ongoing ramp-up challenges.
(audio in progress) Q1 FY26 earnings conference call. (Operator Instructions). Please note that this conference is being recorded.
I now hand over the conference to Mr. Anurag Kalra, Senior Vice President, Investor Relations at Fortis Healthcare Limited. Thank you, and over to you, sir.
Thank you, Pari. A good morning and good afternoon, ladies and gentlemen, and thank you for taking the time to join us on our quarter one FY26 earnings call. The call is being led by our CEO and Managing Director, Dr. Ashutosh Raghuvanshi. We have Mr. Vivek Goyal, our Chief Financial Officer; from Agilus, Mr. Anand joins us as the CEO; and Mr. Akshay, who's the CFO of Agilus, is also here with us.
We will begin with some opening comments on the quarter gone by Dr. Raghuvanshi, post which Anand will take you through his highlights of the Diagnostics business, and then we shall open the floor for question-and-answers.
Over to Dr. Raghuvanshi.
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