Fortis Healthcare Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 31 May 2026 | Healthcare Services | Market Cap: ₹69.8K Cr

Hospital business revenue expected to grow 15%+ organically in FY27 (Page 12). Fortis Healthcare expects 15%+ revenue growth in the hospital business for FY27 with 150 bps margin improvement.

From Fortis Healthcare Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹907

Market Cap

₹69.8K Cr

P/E Ratio

66.1

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Fortis Healthcare Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹2.4K Cr, net profit ₹271 Cr.

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📊 Revenue & Sales Performance

→Hospital business revenue expected to grow 15%+ organically in FY27 (Page 12).
→Diagnostics revenue growth targeting double-digit, currently improving from 8.5% to aiming for 10%+ (Page 8).
→Volume growth in diagnostics expected around 5% with a 70:30 split of volume to value growth (Page 8).
→Expansion plans include commissioning of 500+ beds via brownfield projects in FY27, supporting revenue growth (Page 14).
→New facilities and brownfield expansions in Mohali, Shalimar Bagh, Amritsar, Bangalore, and Mulund to drive future capacity and revenue increases (Page 15).
→Continued strong growth expected from focused specialties (Oncology, Neurosciences, Cardiac Sciences, etc.) which drove 18.9% revenue growth and 62% of hospital revenue in FY26 (Page 4).
→Increasing penetration in underserved micro markets, e.g., new hospital in Bangalore's People Tree cluster targeting future growth (Page 14).

📈 Profitability & Margins

→Fortis Healthcare expects 15%+ revenue growth in the hospital business for FY27 with 150 bps margin improvement.
→Hospital EBITDA margins targeted to expand by 1.5% to 2% year-on-year, aiming for 25% by FY28.
→Diagnostics business EBITDA margin guidance of around 23-24% with revenue growth driven by volume (70%) and value (30%).
→Brownfield expansions and ramp-up of new units expected to improve occupancy and margins.
→New hospital additions and acquisitions will add incremental growth beyond organic guidance.
→Dividend payout of INR 1 per share (10% of face value) signals confidence in continued earnings strength.
→Overall, management is confident in consistent margin improvement and double-digit revenue growth driven by operational efficiencies, capacity expansions, and acquisitions.

🏗️ Capital Expenditure Plans

→In FY26, Fortis Healthcare incurred approximately INR 700 crores in capital expenditure focused on capacity expansion and enhancement of medical infrastructure.
→Over the next 4 years, the company plans to add around 1,800 beds through brownfield expansions.
→For FY27, the target is to add more than 400 beds, including a new tower at FMRI expected to be operational within weeks, along with additions at Noida, Manesar, Amritsar, and FHKI Kolkata.
→Annual capex guidance from FY27 to FY29 is around INR 900 crores, with approximately 60% allocated toward maintenance capex and the remainder toward growth capex.
→Brownfield expansion projects include new towers in Mohali, Shalimar Bagh, and Amritsar, expected to complete in 2.5 to 3 years.
→Capex for Shalimar Bagh has been deferred due to approval-related delays but will proceed once cleared.

💰 Fundraising & Capital Structure

→No specific timeline for new investments or capital infusion has been provided as of now.
→IHH, the parent company, plans to increase its stake to 50% in Fortis Healthcare and has indicated a potential fresh equity infusion of around INR 10,000 crores for growth aspirations.
→This fresh equity infusion will occur as and when the company requires growth capital.
→Currently, there is no announced or scheduled new debt or equity fundraising.
→The company expects to incur around INR 900 crores annually on capex, with approximately 60% towards maintenance and the rest towards growth capex, funded through existing resources.
→The management is open to raising capital but only when required to support growth initiatives.

📋 Order Book & Pipeline

The transcript does not provide explicit information on the current or expected orderbook or pending orders for Fortis Healthcare Limited. However, some relevant points regarding capacity expansion and future projects include: - New towers under brownfield expansion coming up in Mohali, Shalimar Bagh, and Amritsar, expected to take about 2.5 to 3 years to complete. - Brownfield capacity in Bangalore with about 100 beds yet to be commissioned; pending until occupancy improves. - Potential brownfield expansion in Mulund being planned due to current 65% occupancy. - Targeting around 500+ bed expansions via brownfield projects in FY27. - Capex guidance of approximately INR 900 crores annually from FY27 to FY29, including maintenance and growth capex. - Some delays in bed additions (around 300 beds deferred from FY28 to FY29) mainly due to approval delays in Shalimar Bagh. No formal orderbook figures or pending orders are disclosed in the document.

Key Metrics

What Fortis Health.'s management said in earlier quarters

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Frequently Asked Questions

What were Fortis Healthcare Ltd Q4 FY26 results?

Hospital business revenue expected to grow 15%+ organically in FY27 (Page 12). Fortis Healthcare expects 15%+ revenue growth in the hospital business for FY27 with 150 bps margin improvement.

What is Fortis Healthcare Ltd share price analysis?

Fortis Healthcare Ltd currently shows a neutral. The stock trades at a P/E of 66.1 with a market cap of ₹69,834 Cr. Investors should review the full earnings analysis for detailed insights.

Is Fortis Healthcare Ltd planning capital expenditure?

In FY26, Fortis Healthcare incurred approximately INR 700 crores in capital expenditure focused on capacity expansion and enhancement of medical infrastructure.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.