Fortis Healthcare Ltd — earnings calls

Fortis Healthcare reported consolidated revenue of INR 2,545 crores for Q1 FY27, up 17.5% year-on-year, with hospital revenue growing 19% and diagnostic gross revenue growing 10.2%. Consolidated operating EBITDA pre-ESOP increased 15.8% to INR 568 crores, while margin moderated slightly due to new hospital acquisitions, legal costs, and higher provisions for doubtful debt. Management discussed bed expansion, an O&M entry into Odisha, ESOP costs for clinical staff, and continued guidance toward a 25% hospital EBITDA margin by FY28.

Fortis Healthcare reported consolidated FY26 revenue of INR9,128 crores, up 17.3%, with operating EBITDA margin expanding to 22.8% from 20.4% a year earlier. The hospital business grew 19.1% for the year while the diagnostics business under Agilus grew 8.5%, with Agilus FY26 EBITDA margin rising to 23.6% from 17.7%. Management discussed occupancy declines at some large hospitals linked to international patient softness and a government drug-price cap on oncology treatments under CGHS/ECHS schemes.