Fortis Healthcare Limited has informed the Exchange about Compliance with respect to the Regulation 56(1)(d) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 and other relevant provisions.
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Fortis Healthcare has submitted auditor certificates (by BSR & Co. LLP) confirming its compliance with both financial and non-financial covenants for its listed non-convertible debentures as at and for the half year ended March 31, 2025. The NCDs consist of 155,000 secured, redeemable, privately placed debentures of face value Rs 1,00,000 each (totalling Rs 155 crore), with Axis Trustee Services Limited as the debenture trustee. The consolidated Net External Debt to EBITDA ratio stood at 1.01 (Net External Debt of Rs 168,419.92 lacs on EBITDA of Rs 166,641.30 lacs), which is healthy and within typical debt covenant limits. The auditor also confirmed the company has not incurred any financial indebtedness beyond the permitted indebtedness defined in the trust deed, and is in compliance with non-financial covenants such as permitted asset disposals, use of proceeds, and security cover requirements.
This is a routine, positive compliance filing that confirms Fortis Healthcare is meeting all its debt obligations and covenant requirements for its NCD holders. No red flags or breaches were identified, suggesting financial discipline and stability. Shareholders and debenture holders can take comfort from the clean auditor opinion and a comfortable leverage ratio of ~1x.