Operates a chain of multi-specialty hospitals and a diagnostic services business under the Agilus brand. The hospital arm runs 36 facilities across 12 states with over 6,000 beds and accounted for 83.6% of FY26 segment revenue with EBIT of INR 1,393.7 cr; focus specialties made up 62% of hospital revenue and international patient revenue reached INR 639 cr. Agilus Diagnostics contributed 16.4% of segment revenue at INR 1,526.56 cr, processing roughly 10 million tests in FY26 with EBITDA margin expanding to 23.6% from 17.7%. In FY26, hospital occupancy was 68% with 3,270 occupied beds and ARPOB of INR 2.51 cr per annum. The cost structure is dominated by other operating expenses (40.1% of revenue) and employee costs (14.2%), with capex running at 10.4% of revenue. Growth is being driven by bed expansion: 1,800 brownfield beds are planned over four years, with 500+ targeted in FY27 and a new 300-bed O&M agreement signed in Cuttack. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Healthcare (84%), Diagnostics (16%). Asset-heavy hospital operator with a growing diagnostics subsidiary, expanding via brownfield beds and selective O&M deals
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,718 | 6,298 | 6,893 | 7,783 | 9,128 |
| EBITDA (ex other income) | 1,384 | 1,175 | 1,284 | 1,499 | 2,063 |
| margin % | 24.2 | 18.7 | 18.6 | 19.3 | 22.6 |
| Owners' profit | 555 | 589 | 599 | 774 | 1,042 |
| EPS, as reported (₹) | 7.35 | 7.80 | 7.93 | 10.26 | 13.80 |
| ROE % · ROCE % | 11.3 · 10.5 | 7.8 · 8.3 | 7.5 · 9.7 | 8.8 · 9.8 | 10.5 · 12.0 |
| Debt / equity (x) | 0.18 | 0.11 | 0.10 | 0.27 | 0.28 |
| Cash from operations | 865 | 822 | 1,100 | 1,424 | 1,602 |
| Capex | (215) | (447) | (942) | (847) | (946) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,988 | 1,928 | 2,007 | 2,167 | 2,331 | 2,265 | 2,365 | 2,545 |
| Profit before tax | 257 | 277 | 232 | 348 | 422 | 262 | 318 | 359 |
| Net profit | 193 | 254 | 188 | 267 | 329 | 197 | 271 | 273 |
| EPS (₹) | 2.34 | 3.28 | 2.44 | 3.45 | 4.26 | 2.57 | 3.52 | 3.53 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Healthcare | 7,773 | 83.6 |
| Diagnostics | 387 | 4.2 |
| Diagnostic | 1,139 | 12.3 |
| Total, before eliminations | 9,299 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APOLLO HOSPITALS ENTER. L | 1,27,062 | 60.8 | 12.74 | 33.5 | 20.1 | 16.6 | 19.0 | 16.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Tokyo Court Dismisses All Claims by Fortis Promoter NTK Against Daiichi Sankyo | regulatory legal | high | — | — |
| 10 Sept 2026 · Fortis holds analyst call on Delhi HC forensic audit order | investor communications | medium | — | — |
| 9 Sept 2026 · Revised intimation for investor and analyst meet in London on September 14-15 | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Revised intimation for investor and analyst meet schedule in London | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Intimation of investor meetings schedule in London | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Fortis Healthcare to hold investor roadshow in London on Sep 14-15 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Fortis shares investors and analysts meeting audio | investor communications | low | — | — |
| 1 Sept 2026 · Fortis Healthcare schedules investor call with IHH Healthcare on September 4 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Delhi HC orders forensic audit on Fortis; no penalty on company | regulatory legal | high | — | — |
| 24 Aug 2026 · Fortis gets Crisil ESG rating of 66, core ESG 72, rated Strong | credit debt | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MAX HEALTHCARE INS LTD |
| 1,00,993 |
| 69.2 |
| 9.40 |
| 44.0 |
| 13.4 |
| 11.1 |
| 27.3 |
| 27.0 |
| FORTIS HEALTHCARE LTD ◆ | 67,025 | 64.0 | 6.59 | 32.9 | 10.5 | 9.7 | 17.8 | 22.0 |
| ASTER DM QUALITY CARE LTD | 39,689 | 124.0 | 8.21 | 40.4 | 8.8 | 8.5 | (11.6) | 14.3 |
| GLOBAL HEALTH LIMITED | 38,972 | 70.0 | 9.78 | 39.4 | 13.9 | 13.5 | — | 23.7 |
| NARAYANA HRUDAYALAYA LTD. | 38,213 | 46.5 | 8.42 | 25.4 | 17.8 | 9.2 | 25.0 | 18.8 |
| KRISHNA INST OF MED SCI L | 32,235 | 150.5 | 12.60 | 43.4 | 9.5 | 5.1 | 24.0 | 20.3 |
| DR AGARWALS HEALTH CARE L | 16,043 | 107.9 | 7.57 | 26.2 | 7.9 | 7.1 | — | 28.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 64.0 | 47.3 | 23 of 30 | 24% |
| P/B | 6.6 | 6.2 | 13 of 24 | 48% |
| ROCE | 9.8 | 10.9 | 17 of 30 | 45% |
| ROE | 10.5 | 11.8 | 15 of 24 | 39% |
| Debt / Equity | 0.3 | 0.2 | 15 of 24 | 39% |
| EBITDA margin | 22.1 | 22.0 | 12 of 24 | 52% |
| Revenue growth | 17.5 | 20.2 | 15 of 23 | 36% |
| Profit growth | 2.3 | 8.1 | 14 of 21 | 35% |
| Market cap | 67025 | 2415 | 3 of 30 | 93% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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