Fortis Healthcare Ltd
FHL was incorporated in February 1996. The company’s first healthcare facility became operational in Mohali, Punjab in 2001. It is a leading integrated healthcare service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Nepal, Dubai and Sri Lanka with 36 healthcare facilities with approximately 4,000 operational beds. [1]
Company controls its diagnostics business through its 57% owned subsidiary SRL Limited. It is amongst the largest private diagnostics chains. It has a presence in over 600 cities and towns, with an established strength of 415 laboratories, 8,200 direct clients and 1,400 Collection Centers. [2]
- Market Cap ₹ 31,723 Cr.
- Current Price ₹ 420
- High / Low ₹ 470 / 251
- Stock P/E 59.3
- Book Value ₹ 101
- Dividend Yield 0.24 %
- ROCE 9.83 %
- ROE 7.77 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 41.4% CAGR over last 5 years
Cons
- Stock is trading at 4.17 times its book value
- The company has delivered a poor sales growth of 6.67% over past five years.
- Company has a low return on equity of 4.39% over last 3 years.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,618 | 3,042 | 3,492 | 3,966 | 4,199 | 4,574 | 4,561 | 4,469 | 4,632 | 4,030 | 5,718 | 6,298 | 6,750 | |
2,290 | 3,827 | 3,430 | 3,857 | 4,106 | 4,220 | 4,287 | 4,238 | 4,022 | 3,626 | 4,649 | 5,196 | 5,593 | |
Operating Profit | 328 | -785 | 62 | 109 | 92 | 354 | 274 | 231 | 610 | 404 | 1,069 | 1,101 | 1,157 |
OPM % | 13% | -26% | 2% | 3% | 2% | 8% | 6% | 5% | 13% | 10% | 19% | 17% | 17% |
200 | 2,169 | 152 | 92 | 299 | 649 | -689 | 228 | 126 | 95 | 367 | 157 | 73 | |
Interest | 251 | 461 | 250 | 152 | 133 | 229 | 258 | 337 | 205 | 166 | 147 | 129 | 128 |
Depreciation | 175 | 229 | 183 | 235 | 225 | 222 | 239 | 233 | 292 | 291 | 301 | 316 | 332 |
Profit before tax | 102 | 694 | -219 | -185 | 34 | 552 | -912 | -110 | 239 | 43 | 988 | 814 | 770 |
Tax % | 36% | 25% | -5% | -2% | -24% | 13% | -2% | -103% | 62% | 230% | 20% | 22% | |
67 | 528 | -218 | -130 | 42 | 479 | -934 | -224 | 91 | -56 | 790 | 633 | 580 | |
EPS in Rs | 1.78 | 12.34 | -4.73 | -3.10 | 0.40 | 8.14 | -19.46 | -3.96 | 0.77 | -1.45 | 7.35 | 7.80 | 7.32 |
Dividend Payout % | 0% | 0% | -0% | -1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 13% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 7% |
3 Years: | 11% |
TTM: | 12% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 41% |
3 Years: | 107% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | 16% |
5 Years: | 25% |
3 Years: | 28% |
1 Year: | 60% |
Return on Equity | |
---|---|
10 Years: | 1% |
5 Years: | 2% |
3 Years: | 4% |
Last Year: | 8% |
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 | 405 | 405 | 463 | 463 | 463 | 518 | 519 | 755 | 755 | 755 | 755 | 755 | 755 |
Reserves | 2,847 | 3,301 | 3,820 | 3,585 | 3,998 | 4,626 | 3,543 | 5,846 | 5,906 | 5,365 | 5,423 | 6,487 | 6,855 |
Preference Capital | 4 | 674 | 670 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
6,863 | 6,471 | 1,880 | 1,784 | 1,513 | 2,217 | 1,962 | 2,010 | 1,594 | 1,531 | 1,255 | 926 | 1,033 | |
2,304 | 3,336 | 1,688 | 1,760 | 1,257 | 2,227 | 2,455 | 2,875 | 2,781 | 3,216 | 4,082 | 3,921 | 4,142 | |
Total Liabilities | 12,419 | 13,514 | 7,851 | 7,592 | 7,232 | 9,588 | 8,479 | 11,486 | 11,036 | 10,866 | 11,516 | 12,089 | 12,785 |
9,180 | 9,274 | 4,147 | 4,218 | 3,642 | 5,419 | 4,992 | 8,477 | 8,802 | 8,799 | 9,416 | 9,426 | 9,637 | |
CWIP | 566 | 244 | 147 | 228 | 226 | 268 | 226 | 450 | 204 | 165 | 193 | 228 | 525 |
Investments | 241 | 1,187 | 1,817 | 1,464 | 1,452 | 1,878 | 1,732 | 270 | 175 | 186 | 104 | 210 | 214 |
2,432 | 2,808 | 1,739 | 1,682 | 1,913 | 2,023 | 1,529 | 2,290 | 1,856 | 1,716 | 1,803 | 2,225 | 2,409 | |
Total Assets | 12,419 | 13,514 | 7,851 | 7,592 | 7,232 | 9,588 | 8,479 | 11,486 | 11,036 | 10,866 | 11,516 | 12,089 | 12,785 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
298 | 1,644 | 479 | 24 | 195 | 966 | 493 | -179 | 172 | 485 | 865 | 822 | |
-745 | -1,490 | 2,503 | 213 | 122 | -1,001 | -333 | -3,279 | 63 | -131 | -501 | -372 | |
691 | -74 | -3,217 | -304 | -354 | 259 | -672 | 4,257 | -862 | -143 | -517 | -471 | |
Net Cash Flow | 244 | 80 | -235 | -66 | -37 | 225 | -513 | 799 | -627 | 212 | -153 | -21 |
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 | 76 | 80 | 46 | 38 | 39 | 38 | 38 | 44 | 36 | 41 | 33 | 34 |
Inventory Days | 46 | 43 | 26 | 25 | 23 | 23 | 24 | 22 | 30 | 29 | 33 | 31 |
Days Payable | 432 | 413 | 200 | 207 | 218 | 215 | 279 | 296 | 226 | 205 | 178 | 179 |
Cash Conversion Cycle | -310 | -290 | -128 | -144 | -156 | -155 | -217 | -230 | -161 | -135 | -112 | -115 |
Working Capital Days | -24 | -133 | -16 | -69 | -24 | -33 | -76 | -133 | -116 | -37 | -21 | -12 |
ROCE % | 5% | 1% | 0% | -0% | 3% | 11% | 3% | 6% | 4% | 2% | 10% | 10% |
Documents
Announcements
- Closure of Trading Window 1d
- Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Regarding An Income Tax Assessment Order Received By Fortis Hospitals Limited, A Material Subsidiary Of The Company. 22 Mar
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 21 Mar
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Announcement under Regulation 30 (LODR)-Change in Management
13 Mar - Mr. Sanjay Baweja appointed as Chief Internal Audit and Risk Officer of the Company, the detailed disclosure is enclosed.
- Board Meeting Outcome for Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Regarding Appointment Of Chief Internal Audit And Risk Officer Of The Company 13 Mar
Annual reports
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2024TranscriptPPT
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About[1]
Fortis operates 27 hospitals (including JVs) across Haryana, Punjab, Delhi NCR, Karnataka, Rajasthan, Maharashtra, Chennai and West Bengal, with ~4,000 operational beds. The company is planning to change the Fortis brand subject to various deliberations and requisite regulatory approvals.
They have established a strong brand in retail and B2B diagnostic segments, managing 479+ labs with 3,700+ customer touch points across India. The brand of diagnostic subsidiary was changed to Agilus in May 2023.
Fortis entered women and child health segments through the La Femme brand. It has a facility in Jaipur; Greater Kailash and Shalimar Bagh (in New Delhi); and in Bengaluru. The company has 4 hospitals accredited to the Joint Commission International (JCI), 21 accredited to the National Accreditation Board for Hospitals (NABH), 18 with NABH-accredited nursing programmes under its umbrella, and 9 NABH-accredited blood banks.