Pursuant to the provisions of Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosures Requirement) Regulation, 2015 ('SEBI Listing Regulations') this is to inform ....
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The board of Fortis Malar Hospitals, which met on May 15, 2025, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified opinion from statutory auditor BSR & Co. LLP. Revenue from operations stood at zero for the full year, as the company had sold its hospital business to MGM Healthcare via a slump sale in February 2024. Standalone profit after tax was just ₹41 lakh (vs ₹4,727.68 lakh in FY24, which included a one-time ₹5,792.63 lakh exceptional gain from the sale), while consolidated PAT was ₹39.20 lakh. The auditor flagged an 'Emphasis of Matter' noting the company has no business operations and that management is evaluating corporate restructuring options, though it has ₹3,212.95 lakh in cash and bank balances to meet obligations. The board also appointed M/s Jitender, Navneet & Co. as Cost Auditor for FY26 and M/s Mukesh Agarwal & Co. as Secretarial Auditor for five years (FY26–FY30).
Fortis Malar is now effectively a shell company with no operating business and an unclear future direction, as management explores restructuring. Shareholders face heightened uncertainty from zero revenue, ongoing GST show cause notices totalling ~₹22,535 lakh (which the company is contesting), and the absence of any new business plan — making this stock high-risk until the board's restructuring decision is announced.