Fortis Malar Hospitals Ltd

₹ 82.3 -1.99%

08 May - close price

About

Incorporated in 1992, Fortis Malar Hospital Ltd is in the business of providing health care & medical services^[1]

Key Points

Business Overview:^[1]^[2]
Company is a part of Fortis Group, being subsidiary of Fortis Hospitals Limited and Intermediate Holding Company of Fortis Healthcare Ltd. The Hospital building is owned by a fellow subsidiary, Fortis Health Management Limited. Company has entered into Hospital and Medical Services Agreement
with FHML for rendering of medical and healthcare services at the hospital building

Website BSE

Market Cap ₹ 154 Cr.
Current Price ₹ 82.3
High / Low ₹ 108 / 44.0
Stock P/E
Book Value ₹ 31.7
Dividend Yield 48.6 %
ROCE -0.77 %
ROE -21.4 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 2.60 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -10.4% over past five years.
Company has a low return on equity of -15.5% over last 3 years.
Earnings include an other income of Rs.7.15 Cr.
Working capital days have increased from 135 days to 219 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Healthcare Industry: Healthcare

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	22.84	19.83	23.18	19.93	20.45	22.62	20.10	23.29	21.90	20.66	17.76	18.15	17.58
	22.22	19.50	22.28	20.93	20.19	19.35	20.13	21.01	20.30	19.93	18.27	18.23	18.67
Operating Profit	0.62	0.33	0.90	-1.00	0.26	3.27	-0.03	2.28	1.60	0.73	-0.51	-0.08	-1.09
OPM %	2.71%	1.66%	3.88%	-5.02%	1.27%	14.46%	-0.15%	9.79%	7.31%	3.53%	-2.87%	-0.44%	-6.20%
	3.14	2.36	2.05	1.99	1.77	1.58	1.64	1.50	1.52	1.97	1.61	2.31	1.26
Interest	1.80	1.76	1.72	1.67	1.61	1.55	1.55	1.61	1.49	1.42	1.35	1.30	1.26
Depreciation	3.25	3.18	3.08	3.09	3.12	3.24	3.02	2.91	2.78	3.44	2.67	2.72	2.91
Profit before tax	-1.29	-2.25	-1.85	-3.77	-2.70	0.06	-2.96	-0.74	-1.15	-2.16	-2.92	-1.79	-4.00
Tax %	27.91%	42.67%	27.57%	0.00%	0.00%	850.00%	0.00%	-491.89%	0.00%	-223.15%	0.00%	0.00%	-0.25%
	-0.93	-1.29	-1.34	-3.78	-2.70	-0.45	-2.96	-4.38	-1.15	-6.99	-2.93	-1.79	-4.00
EPS in Rs	-0.50	-0.69	-0.71	-2.02	-1.44	-0.24	-1.58	-2.34	-0.61	-3.73	-1.56	-0.96	-2.13
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	95	98	108	118	130	141	149	145	112	69	86	86	74
	81	86	99	110	123	140	147	147	115	76	83	81	75
Operating Profit	14	11	9	8	6	1	2	-2	-3	-6	3	5	-1
OPM %	15%	12%	8%	6%	5%	1%	1%	-2%	-2%	-9%	4%	5%	-1%
	1	49	7	8	7	8	8	10	11	15	7	7	7
Interest	1	1	0	1	0	0	0	1	8	7	7	6	5
Depreciation	3	2	2	3	3	4	4	4	13	13	13	12	12
Profit before tax	11	57	13	12	10	4	6	3	-12	-11	-8	-7	-11
Tax %	28%	24%	34%	34%	36%	30%	41%	26%	25%	30%	-0%	-121%
	8	43	9	8	6	3	3	2	-9	-8	-8	-15	-16
EPS in Rs	4.17	23.38	4.72	4.23	3.45	1.67	1.78	1.10	-4.74	-4.20	-4.41	-8.26	-8.38
Dividend Payout %	0%	0%	11%	12%	14%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-1%
5 Years:	-10%
3 Years:	-8%
TTM:	-16%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-38%
TTM:	-76%

Stock Price CAGR
10 Years:	12%
5 Years:	8%
3 Years:	6%
1 Year:	60%

Return on Equity
10 Years:	-2%
5 Years:	-10%
3 Years:	-15%
Last Year:	-21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	19	19	19	19	19	19	19	19	19	19	19	19	19
Reserves	15	59	66	73	79	81	84	87	78	70	61	45	41
	8	0	0	0	0	0	0	0	64	57	53	46	42
	77	14	17	20	33	31	46	45	33	23	27	27	27
Total Liabilities	118	91	101	111	130	131	149	151	194	169	161	138	129
	39	17	18	18	24	25	24	22	81	69	58	47	44
CWIP	0	0	1	1	0	1	1	1	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
	79	73	83	93	105	105	125	128	112	100	103	91	84
Total Assets	118	91	101	111	130	131	149	151	194	169	161	138	129

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	11	-64	5	4	10	-9	9	-16	-0	-1	7	6
	-10	73	-1	5	-22	13	-2	6	50	-28	8	0
	-1	-7	-1	0	-1	-1	0	0	-12	-7	-10	-13
Net Cash Flow	0	2	3	10	-13	4	7	-9	38	-36	5	-7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	15	12	13	13	17	14	15	24	12	11	9	14
Inventory Days	9	7	4	13	35	28	22	18	22	42	40	32
Days Payable	122	160	153	169	286	174	277	257	324	373	429	585
Cash Conversion Cycle	-98	-141	-136	-143	-234	-131	-240	-215	-289	-320	-380	-539
Working Capital Days	-9	212	187	164	126	153	132	156	-55	134	51	219
ROCE %	30%	23%	17%	14%	12%	5%	6%	3%	-3%	-7%	-1%	-1%

Shareholding Pattern

Numbers in percentages

15 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%
	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
	37.22%	37.22%	37.22%	37.22%	37.22%	37.23%	37.23%	37.23%	37.23%	37.23%	37.23%	37.23%
No. of Shareholders	9,646	9,422	9,365	9,688	9,578	9,520	8,772	8,731	8,651	8,630	9,790	10,213

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	62.97%	62.90%	62.71%	62.71%	62.71%	62.71%	62.71%	62.71%
	0.46%	0.19%	0.19%	0.19%	0.07%	0.07%	0.07%	0.07%
	36.57%	36.90%	37.10%	37.10%	37.22%	37.22%	37.23%	37.23%
No. of Shareholders	21,239	15,311	14,846	23,111	9,252	9,688	8,731	10,213

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Fortis Malar Hospitals Ltd

Fortis Malar Hospitals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports