Fortis Healthcare
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Sept 17 (Reuters) - IHH Healthcare IHHH.KL:
FORTIS HEALTHCARE FILES SPECIAL LEAVE PETITION
BERHAD INVOLVED IN EXECUTION PROCEEDINGS BEFORE DELHI HIGH COURT REGARDING FORTIS
Further company coverage: IHHH.KL
(([email protected];))
Sept 17 (Reuters) - IHH Healthcare IHHH.KL:
FORTIS HEALTHCARE FILES SPECIAL LEAVE PETITION
BERHAD INVOLVED IN EXECUTION PROCEEDINGS BEFORE DELHI HIGH COURT REGARDING FORTIS
Further company coverage: IHHH.KL
(([email protected];))
** Shares of Fortis Healthcare FOHE.NS drop 1.4% to 867.25 rupees
** Hospital operator says it files a special leave petition in Supreme Court challenging a Delhi High Court order directing a forensic audit of transactions involving Fortis, Malaysia's IHH Healthcare IHHH.KL
** Audit forms part of a probe into allegations that former Fortis promoters moved or disposed of assets that could have been used to satisfy Daiichi Sankyo's 2016 arbitration award against former promoters Malvinder and Shivinder Singh
** Audit will examine the disposal of their Fortis shareholding, subsequent change in control of hospital operator and role of relevant stakeholders
** YTD, stock down 1.8%
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Fortis Healthcare FOHE.NS drop 1.4% to 867.25 rupees
** Hospital operator says it files a special leave petition in Supreme Court challenging a Delhi High Court order directing a forensic audit of transactions involving Fortis, Malaysia's IHH Healthcare IHHH.KL
** Audit forms part of a probe into allegations that former Fortis promoters moved or disposed of assets that could have been used to satisfy Daiichi Sankyo's 2016 arbitration award against former promoters Malvinder and Shivinder Singh
** Audit will examine the disposal of their Fortis shareholding, subsequent change in control of hospital operator and role of relevant stakeholders
** YTD, stock down 1.8%
(Reporting by Kashish Tandon in Bengaluru)
Northern TK Venture Pte Ltd, a promoter shareholder of Fortis Healthcare, had all its claims against Daiichi Sankyo dismissed by the Tokyo District Court on September 10 and was ordered to bear the litigation costs. NTK disagreed with the judgment and was reviewing legal remedies. The wider legal file involved the Singh brothers’ shareholding, the IHH/TK control acquisition and the RHT asset buyback. A Delhi High Court order on August 31 had appointed a forensic auditor to examine the share disposal and change in control.
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Northern TK Venture Pte Ltd, a promoter shareholder of Fortis Healthcare, had all its claims against Daiichi Sankyo dismissed by the Tokyo District Court on September 10 and was ordered to bear the litigation costs. NTK disagreed with the judgment and was reviewing legal remedies. The wider legal file involved the Singh brothers’ shareholding, the IHH/TK control acquisition and the RHT asset buyback. A Delhi High Court order on August 31 had appointed a forensic auditor to examine the share disposal and change in control.
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Adds Daiichi Sankyo's response in paragraph 7
Sept 10 (Reuters) - Malaysia's IHH Healthcare IHHH.KL said on Thursday a Tokyo court has dismissed its unit's damage claims against Japan's Daiichi Sankyo 4568.T tied to its 2018 acquisition of a stake in India's Fortis Healthcare FOHE.NS.
The subsidiary, Northern TK Venture (NTK), had filed a claim in October 2023 alleging the Japanese drugmaker caused losses to the unit by preventing it from proceeding with open offers to buy a stake in the Indian hospital chain in 2018.
IHH, one of the world's largest private healthcare groups, had bought a 31% interest in Fortis through NTK, but later halted its open offer to buy an additional 26% after the Japanese company filed a contempt plea against the founders of the Indian company.
In May 2025, NTK had filed a petition at the Tokyo court to revise damages sought from Daiichi Sankyo to up to 109.3 billion Indian rupees ($1.15 billion).
"NTK respectfully disagrees with the court's decision and maintains firm confidence in the merits of its position," IHH said in its statement, adding that the unit is reviewing the judgment in detail with its legal counsel.
The court also decided NTK shall bear the costs of the litigation, the healthcare operator said.
"Daiichi Sankyo considers that this judgment recognizes the legitimacy of the company's position and represents a fair determination," the Japanese drugmaker said in a separate statement.
Fortis did not respond to a Reuters request for comment.
($1 = 95.4400 Indian rupees)
(Reporting by Shivangi Lahiri in Bengaluru; additional reporting by Nichiket Sunil; Editing by Vijay Kishore)
(([email protected];))
Adds Daiichi Sankyo's response in paragraph 7
Sept 10 (Reuters) - Malaysia's IHH Healthcare IHHH.KL said on Thursday a Tokyo court has dismissed its unit's damage claims against Japan's Daiichi Sankyo 4568.T tied to its 2018 acquisition of a stake in India's Fortis Healthcare FOHE.NS.
The subsidiary, Northern TK Venture (NTK), had filed a claim in October 2023 alleging the Japanese drugmaker caused losses to the unit by preventing it from proceeding with open offers to buy a stake in the Indian hospital chain in 2018.
IHH, one of the world's largest private healthcare groups, had bought a 31% interest in Fortis through NTK, but later halted its open offer to buy an additional 26% after the Japanese company filed a contempt plea against the founders of the Indian company.
In May 2025, NTK had filed a petition at the Tokyo court to revise damages sought from Daiichi Sankyo to up to 109.3 billion Indian rupees ($1.15 billion).
"NTK respectfully disagrees with the court's decision and maintains firm confidence in the merits of its position," IHH said in its statement, adding that the unit is reviewing the judgment in detail with its legal counsel.
The court also decided NTK shall bear the costs of the litigation, the healthcare operator said.
"Daiichi Sankyo considers that this judgment recognizes the legitimacy of the company's position and represents a fair determination," the Japanese drugmaker said in a separate statement.
Fortis did not respond to a Reuters request for comment.
($1 = 95.4400 Indian rupees)
(Reporting by Shivangi Lahiri in Bengaluru; additional reporting by Nichiket Sunil; Editing by Vijay Kishore)
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix typo in headline
By Ujjaini Dutta
BENGALURU, Sept 4 (Reuters Breakingviews) - New Delhi will hurt itself if it puts foreign funding for its healthcare system under the knife. A day after U.S. private equity firm KKR KKR.N agreed to buy Medicover's MCOVb.ST India hospitals business for $1.4 billion, a parliamentary panel urged the government to "review and rationalise" overseas funding, shield smaller providers from "predatory corporate buyouts" and cap room rates at the equivalent of three-star hotels. Adopting those measures may be politically appealing but it will ultimately worsen India's chronic shortage of healthcare capacity.
The impulse to increase affordability is easy to understand. Woefully low public spending leaves the majority of Indians depending on private hospitals where annual medical inflation rate is running at up to 13%, per the committee report. Though the amount paid out of pocket to cover bills is reducing, it remains high at 44%, roughly three times that of the United Kingdom, Australia and Canada.
Yet price rises reflect a maturing industry, more than fraud and waste. Most external investment flows to big cities led by Bengaluru, Mumbai and New Delhi where affluent populations want cutting-edge treatment. Restricting capital inflows will slow the pace of technology advancement and growth: India still has just 16 hospital beds per 10,000 people, compared to China's 56 and Japan's 126.
Take Manipal Health Enterprises MNIA.NS . Singapore's Temasek first invested in the Bengaluru-based company in 2017, became its controlling shareholder in 2023 and retains a 44% stake after the $10 billion hospital chain's IPO last month. During that time, Manipal Health acquired five rivals, comprised of 31 hospitals but it plans to add another 1,943 beds to its current 13,037 through greenfield projects through 2030. Blackstone BX.N, CVC and others have made similar investments.
Capping room rates won't materially improve affordability either. These account for just 12% of a patient's total bill over a four night stay based on an average room tariff of 8,000 rupees ($84.25) and average revenue per bed of 68,767 rupees, according to Breakingviews calculations using data from Fortis Healthcare FOHE.NS and Visible Alpha. Hospitals would simply try to recover the difference by charging more for procedure costs or doctor fees as they did when the government capped stent prices in 2017. Worse, benchmarking rates to nearby three-star hotels as proposed would leave much to be desired in quality of accommodation, even for the non-fussy among India's well-heeled.
Standardising treatment costs and enforcing faster claim dispute resolution are better ways to reduce unnecessary medical inflation for those that can afford to pay. Blaming foreign investors for problems arising from India's miserly spending on public health, at less than 2% of GDP, would be a costly misdiagnosis.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
A parliamentary committee on August 7 recommended the government “strictly review and rationalize" foreign investment in healthcare facilities and protect affordable mid-sized hospitals from "predatory corporate buyouts”.
The “Affordability and Accessibility of Healthcare Facilities in Public and Private Sector” report said that "aggressive corporatization is fundamentally transforming healthcare from a public service sector into a purely capitalistic enterprise, artificially inflating the cost of medical procedures and triggering a cascading effect of price hikes across the entire healthcare ecosystem".
The report also recommends that the room charges for a hospital should be capped to average room tariffs in three-star hotels in the peripheral area or vicinity of the hospital.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to fix typo in headline
By Ujjaini Dutta
BENGALURU, Sept 4 (Reuters Breakingviews) - New Delhi will hurt itself if it puts foreign funding for its healthcare system under the knife. A day after U.S. private equity firm KKR KKR.N agreed to buy Medicover's MCOVb.ST India hospitals business for $1.4 billion, a parliamentary panel urged the government to "review and rationalise" overseas funding, shield smaller providers from "predatory corporate buyouts" and cap room rates at the equivalent of three-star hotels. Adopting those measures may be politically appealing but it will ultimately worsen India's chronic shortage of healthcare capacity.
The impulse to increase affordability is easy to understand. Woefully low public spending leaves the majority of Indians depending on private hospitals where annual medical inflation rate is running at up to 13%, per the committee report. Though the amount paid out of pocket to cover bills is reducing, it remains high at 44%, roughly three times that of the United Kingdom, Australia and Canada.
Yet price rises reflect a maturing industry, more than fraud and waste. Most external investment flows to big cities led by Bengaluru, Mumbai and New Delhi where affluent populations want cutting-edge treatment. Restricting capital inflows will slow the pace of technology advancement and growth: India still has just 16 hospital beds per 10,000 people, compared to China's 56 and Japan's 126.
Take Manipal Health Enterprises MNIA.NS . Singapore's Temasek first invested in the Bengaluru-based company in 2017, became its controlling shareholder in 2023 and retains a 44% stake after the $10 billion hospital chain's IPO last month. During that time, Manipal Health acquired five rivals, comprised of 31 hospitals but it plans to add another 1,943 beds to its current 13,037 through greenfield projects through 2030. Blackstone BX.N, CVC and others have made similar investments.
Capping room rates won't materially improve affordability either. These account for just 12% of a patient's total bill over a four night stay based on an average room tariff of 8,000 rupees ($84.25) and average revenue per bed of 68,767 rupees, according to Breakingviews calculations using data from Fortis Healthcare FOHE.NS and Visible Alpha. Hospitals would simply try to recover the difference by charging more for procedure costs or doctor fees as they did when the government capped stent prices in 2017. Worse, benchmarking rates to nearby three-star hotels as proposed would leave much to be desired in quality of accommodation, even for the non-fussy among India's well-heeled.
Standardising treatment costs and enforcing faster claim dispute resolution are better ways to reduce unnecessary medical inflation for those that can afford to pay. Blaming foreign investors for problems arising from India's miserly spending on public health, at less than 2% of GDP, would be a costly misdiagnosis.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
A parliamentary committee on August 7 recommended the government “strictly review and rationalize" foreign investment in healthcare facilities and protect affordable mid-sized hospitals from "predatory corporate buyouts”.
The “Affordability and Accessibility of Healthcare Facilities in Public and Private Sector” report said that "aggressive corporatization is fundamentally transforming healthcare from a public service sector into a purely capitalistic enterprise, artificially inflating the cost of medical procedures and triggering a cascading effect of price hikes across the entire healthcare ecosystem".
The report also recommends that the room charges for a hospital should be capped to average room tariffs in three-star hotels in the peripheral area or vicinity of the hospital.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
Sept 1 (Reuters) - IHH Healthcare Bhd IHHH.KL:
DELHI HIGH COURT PASSED AN ORDER DATED 31 AUGUST FOR CERTAIN APPLICATIONS FILED BY DAIICHI SANKYO AGAINST, INTER ALIA, FORTIS
COURT HAS NOT IMPOSED ANY LIABILITY, PENALTY OR FINE ON IHH OR FORTIS
COURT DIRECTED APPOINTMENT OF FORENSIC AUDITOR
COMPANY IS REVIEWING ORDER IN DETAIL IN CONSULTATION WITH ITS LEGAL COUNSELS
ORDER INCLUDES DIRECTIONS TO EXAMINE TRANSACTION ON ACQUISITION OF CONTROLLING STAKE IN FORTIS BY IHH VIA NORTHERN TK VENTURE PTE
Further company coverage: 4568.T
(([email protected];))
Sept 1 (Reuters) - IHH Healthcare Bhd IHHH.KL:
DELHI HIGH COURT PASSED AN ORDER DATED 31 AUGUST FOR CERTAIN APPLICATIONS FILED BY DAIICHI SANKYO AGAINST, INTER ALIA, FORTIS
COURT HAS NOT IMPOSED ANY LIABILITY, PENALTY OR FINE ON IHH OR FORTIS
COURT DIRECTED APPOINTMENT OF FORENSIC AUDITOR
COMPANY IS REVIEWING ORDER IN DETAIL IN CONSULTATION WITH ITS LEGAL COUNSELS
ORDER INCLUDES DIRECTIONS TO EXAMINE TRANSACTION ON ACQUISITION OF CONTROLLING STAKE IN FORTIS BY IHH VIA NORTHERN TK VENTURE PTE
Further company coverage: 4568.T
(([email protected];))
On August 31, the Delhi High Court ordered the appointment of a forensic auditor to examine the dissipation of the Singh Brothers’ shareholding in Fortis Healthcare, the subsequent change in control and the role of relevant stakeholders, including the company. The order arose from applications by Daiichi Sankyo in its case against Malvinder Mohan Singh and others. Fortis was not a party to the original dispute or a judgment debtor in the execution proceedings, and the court imposed no liability, penalty or fine on it. Fortis generated about ₹10,100 crore of consolidated revenue in FY26, with hospitals accounting for roughly 85% of gross segment sales.
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On August 31, the Delhi High Court ordered the appointment of a forensic auditor to examine the dissipation of the Singh Brothers’ shareholding in Fortis Healthcare, the subsequent change in control and the role of relevant stakeholders, including the company. The order arose from applications by Daiichi Sankyo in its case against Malvinder Mohan Singh and others. Fortis was not a party to the original dispute or a judgment debtor in the execution proceedings, and the court imposed no liability, penalty or fine on it. Fortis generated about ₹10,100 crore of consolidated revenue in FY26, with hospitals accounting for roughly 85% of gross segment sales.
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Aug 6 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD JUNE-QUARTER CONSOL NET PROFIT 2.73 BILLION RUPEES
FORTIS HEALTHCARE LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 25.45 BILLION RUPEES
Further company coverage: FOHE.NS
(([email protected];))
Aug 6 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD JUNE-QUARTER CONSOL NET PROFIT 2.73 BILLION RUPEES
FORTIS HEALTHCARE LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 25.45 BILLION RUPEES
Further company coverage: FOHE.NS
(([email protected];))
Updates with comments from company and IPO details
By Rishika Sadam and Vivek Kumar M
July 24 (Reuters) - India's Manipal Health Enterprises MNIA.NS plans to spend 40 billion rupees ($414.38 million) to increase its bed capacity by over 18% in the next few years, a company executive said on Friday, ahead of the launch of the hospital chain operator's IPO next week.
The Temasek-backed company, one of India's largest hospital chain operators, plans to add 2,400 beds to its existing 13,037 capacity within three to four years, Dilip Jose, managing director and CEO at Manipal Health Enterprises, said in a press conference.
The Bengaluru-based chain operates 49 hospitals across India and competes with the likes of Apollo Hospitals Enterprise APLH.NS, Max Healthcare MAXE.NS, and Fortis Healthcare FOHE.NS.
The company is also targeting a valuation of up to $8 billion for its $960.4 million IPO, India's second-largest primary market offering this year after SBI Funds Management's SBIA.NS $1.03 billion issue earlier this month.
Manipal Health plans to issue new shares worth $828.4 million in the IPO. Existing investors including Temasek's unit Imperius Healthcare Investments and TPG Capital will offload shares worth $132 million.
The hospital chain operator said it expects to turn net debt-free with the help of the IPO proceeds.
Anchor investors can bid for Manipal Health's shares by July 28. Public subscription will be open from July 29 to July 31.
($1 = 96.5725 Indian rupees)
(Reporting by Vivek Kumar M in Bengaluru and Rishika Sadam in Hyderabad; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Sonia Cheema)
(([email protected];))
Updates with comments from company and IPO details
By Rishika Sadam and Vivek Kumar M
July 24 (Reuters) - India's Manipal Health Enterprises MNIA.NS plans to spend 40 billion rupees ($414.38 million) to increase its bed capacity by over 18% in the next few years, a company executive said on Friday, ahead of the launch of the hospital chain operator's IPO next week.
The Temasek-backed company, one of India's largest hospital chain operators, plans to add 2,400 beds to its existing 13,037 capacity within three to four years, Dilip Jose, managing director and CEO at Manipal Health Enterprises, said in a press conference.
The Bengaluru-based chain operates 49 hospitals across India and competes with the likes of Apollo Hospitals Enterprise APLH.NS, Max Healthcare MAXE.NS, and Fortis Healthcare FOHE.NS.
The company is also targeting a valuation of up to $8 billion for its $960.4 million IPO, India's second-largest primary market offering this year after SBI Funds Management's SBIA.NS $1.03 billion issue earlier this month.
Manipal Health plans to issue new shares worth $828.4 million in the IPO. Existing investors including Temasek's unit Imperius Healthcare Investments and TPG Capital will offload shares worth $132 million.
The hospital chain operator said it expects to turn net debt-free with the help of the IPO proceeds.
Anchor investors can bid for Manipal Health's shares by July 28. Public subscription will be open from July 29 to July 31.
($1 = 96.5725 Indian rupees)
(Reporting by Vivek Kumar M in Bengaluru and Rishika Sadam in Hyderabad; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Sonia Cheema)
(([email protected];))
July 8 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE - RE-APPOINTS ASHUTOSH RAGHUVANSHI AS MD
Further company coverage: FOHE.NS
(([email protected];))
July 8 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE - RE-APPOINTS ASHUTOSH RAGHUVANSHI AS MD
Further company coverage: FOHE.NS
(([email protected];))
July 3 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD- SIGNS OM AGREEMENT WITH DION GROUP FOR 300-BED MULTI-SPECIALTY HOSPITAL IN CUTTACK
Source text: [ID:]
Further company coverage: FOHE.NS
(([email protected];))
July 3 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD- SIGNS OM AGREEMENT WITH DION GROUP FOR 300-BED MULTI-SPECIALTY HOSPITAL IN CUTTACK
Source text: [ID:]
Further company coverage: FOHE.NS
(([email protected];))
KKR in talks to buy majority stake in Medicover's India business
Medicover confirms talks with KKR for sale of India operations
Sweden's Medicover owns 66.9% of Medicover Hospitals India
By Vibhuti Sharma
MUMBAI, June 18 (Reuters) - KKR is in advanced talks to buy a majority stake in the Indian business of Sweden's Medicover MCOVb.ST for at least $1 billion, a source with direct knowledge of the matter said, a deal that would expand its healthcare bet in the world's most populous nation.
Stockholm-listed Medicover issued a press release soon after Reuters sent a request for comment on Wednesday night, saying Medicover Hospitals India is in discussions with KKR KKR.N "regarding a potential sale of its Indian operations."
The company did not provide any details and Reuters is first to report that talks are ongoing for KKR to take a majority stake in the Indian business unit for at least $1 billion.
Medicover, which entered the country in 2016, operates a network of 26 hospitals with around 6,000 beds. In its statement, it said it has also been preparing for an Indian initial public offering.
Sweden's Medicover owns 66.9% of Medicover Hospitals India. KKR is seeking to acquire the Swedish firm's entire stake for at least $1.05 billion and is also in discussions with minority shareholders.
The "discussions are ongoing and a non-binding agreement has been reached," said the person, who declined to be named publicly as the talks are private.
Medicover did not respond to Reuters queries and KKR declined to comment.
INTEREST IN HOSPITALS
In its press release, Medicover said there is no certainty that discussions with KKR will result in any transaction and that the firm is continuing with the IPO process.
KKR has been steadily increasing its healthcare investments in India. In 2024, the buyout firm bought a controlling stake in a hospital chain in the southern state of Kerala and has since backed the hospital group's expansion through acquisitions.
India's hospital sector has attracted strong investor interest as rising incomes, expanding health insurance coverage and growing demand for quality healthcare drive consolidation and capacity expansion across the industry.
Medicover competes with Apollo Hospitals APLH.NS, Aster Hospitals, and Fortis Healthcare FOHE.NS in India.
Rothschild is advising on the sale process, while Kotak is advising KKR, the person added.
Kotak and Rothschild did not respond to Reuters queries.
Medicover's India unit reported annual revenue of $234.6 million in 2025, up nearly 1% from a year earlier. The Indian business accounts for more than half of the group's hospitals globally.
(Reporting by Vibhuti Sharma; Editing by Aditya Kalra and Thomas Derpinghaus)
(([email protected];))
KKR in talks to buy majority stake in Medicover's India business
Medicover confirms talks with KKR for sale of India operations
Sweden's Medicover owns 66.9% of Medicover Hospitals India
By Vibhuti Sharma
MUMBAI, June 18 (Reuters) - KKR is in advanced talks to buy a majority stake in the Indian business of Sweden's Medicover MCOVb.ST for at least $1 billion, a source with direct knowledge of the matter said, a deal that would expand its healthcare bet in the world's most populous nation.
Stockholm-listed Medicover issued a press release soon after Reuters sent a request for comment on Wednesday night, saying Medicover Hospitals India is in discussions with KKR KKR.N "regarding a potential sale of its Indian operations."
The company did not provide any details and Reuters is first to report that talks are ongoing for KKR to take a majority stake in the Indian business unit for at least $1 billion.
Medicover, which entered the country in 2016, operates a network of 26 hospitals with around 6,000 beds. In its statement, it said it has also been preparing for an Indian initial public offering.
Sweden's Medicover owns 66.9% of Medicover Hospitals India. KKR is seeking to acquire the Swedish firm's entire stake for at least $1.05 billion and is also in discussions with minority shareholders.
The "discussions are ongoing and a non-binding agreement has been reached," said the person, who declined to be named publicly as the talks are private.
Medicover did not respond to Reuters queries and KKR declined to comment.
INTEREST IN HOSPITALS
In its press release, Medicover said there is no certainty that discussions with KKR will result in any transaction and that the firm is continuing with the IPO process.
KKR has been steadily increasing its healthcare investments in India. In 2024, the buyout firm bought a controlling stake in a hospital chain in the southern state of Kerala and has since backed the hospital group's expansion through acquisitions.
India's hospital sector has attracted strong investor interest as rising incomes, expanding health insurance coverage and growing demand for quality healthcare drive consolidation and capacity expansion across the industry.
Medicover competes with Apollo Hospitals APLH.NS, Aster Hospitals, and Fortis Healthcare FOHE.NS in India.
Rothschild is advising on the sale process, while Kotak is advising KKR, the person added.
Kotak and Rothschild did not respond to Reuters queries.
Medicover's India unit reported annual revenue of $234.6 million in 2025, up nearly 1% from a year earlier. The Indian business accounts for more than half of the group's hospitals globally.
(Reporting by Vibhuti Sharma; Editing by Aditya Kalra and Thomas Derpinghaus)
(([email protected];))
June 17 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE - TAX DEMAND REDUCED FROM 1.17 BILLION RUPEES TO 614.8 MILLION RUPEES FOR UNIT
Source text: ID:nBSE3zydY7
Further company coverage: FOHE.NS
(([email protected];))
June 17 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE - TAX DEMAND REDUCED FROM 1.17 BILLION RUPEES TO 614.8 MILLION RUPEES FOR UNIT
Source text: ID:nBSE3zydY7
Further company coverage: FOHE.NS
(([email protected];))
May 22 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE MARCH-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 2.66 BILLION RUPEES
FORTIS HEALTHCARE MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 23.65 BILLION RUPEES
FORTIS HEALTHCARE LTD - DIVIDEND OF 1 RUPEE PER SHARE
Source text: ID:nnAZN4SY0B8
Further company coverage: FOHE.NS
(([email protected];))
May 22 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE MARCH-QUARTER CONSOL NET PROFIT FROM CONTINUING OPERATIONS 2.66 BILLION RUPEES
FORTIS HEALTHCARE MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 23.65 BILLION RUPEES
FORTIS HEALTHCARE LTD - DIVIDEND OF 1 RUPEE PER SHARE
Source text: ID:nnAZN4SY0B8
Further company coverage: FOHE.NS
(([email protected];))
** Motilal Oswal initiates coverage on India's Fortis Healthcare FOHE.NS with "buy" rating, PT of 1,100 rupees - a 19% upside to its last close
** Since the change in promoter ownership in FY19, Fortis has transitioned from a governance‑challenged, leveraged entity into a professionally managed healthcare platform, Motilal Oswal says
** Brokerage noted that Fortis' operating performance has steadily improved alongside a return to profitability over the years
** Motilal Oswal expects utilization-led growth, an improved test mix, and tighter hospital integration to support steady revenue growth and margin expansion
** Brokerage expects Fortis to post a CAGR of 17% in EBITDA and 22% in profit after tax over FY26‑FY28, driven by patient volume growth, capacity additions, and price hikes
** Stock rated "Buy" on average by 14 analysts; median PT 1,050 rupees, per data compiled by LSEG
** FOHE down 0.5% on the day; YTD, stock up 4.4%
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
** Motilal Oswal initiates coverage on India's Fortis Healthcare FOHE.NS with "buy" rating, PT of 1,100 rupees - a 19% upside to its last close
** Since the change in promoter ownership in FY19, Fortis has transitioned from a governance‑challenged, leveraged entity into a professionally managed healthcare platform, Motilal Oswal says
** Brokerage noted that Fortis' operating performance has steadily improved alongside a return to profitability over the years
** Motilal Oswal expects utilization-led growth, an improved test mix, and tighter hospital integration to support steady revenue growth and margin expansion
** Brokerage expects Fortis to post a CAGR of 17% in EBITDA and 22% in profit after tax over FY26‑FY28, driven by patient volume growth, capacity additions, and price hikes
** Stock rated "Buy" on average by 14 analysts; median PT 1,050 rupees, per data compiled by LSEG
** FOHE down 0.5% on the day; YTD, stock up 4.4%
(Reporting by Brijesh Patel in Bengaluru)
(([email protected]; Ph no. +91 9590227221;))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, April 13 (Reuters Breakingviews) - Feverish demand for private medical care in India will aid Temasek as it lines up a $1.2 billion initial public offering of Manipal Hospitals, the country's largest chain with 12,000 beds. Yet at a mooted $13 billion valuation, the Singapore sovereign investor may be stretching too far to crystallise a strong exit on one of its rare controlling stakes.
Its 51% holding in Manipal is part of Temasek’s S$434 billion ($324 billion) global portfolio which boasts a growing footprint in India. The South Asian country accounts for about 8% of underlying assets, up from 5% a decade ago. Its exposure could rise higher in the coming years under Piyush Gupta; in November, Temasek appointed the former DBS Group DBSM.SI chief executive as its India chair. Manipal’s listing hands the bank its first IPO mandate in India.
The Singaporean investment firm valued the company at just under $5 billion in 2023 when it picked up a 41% stake for $2 billion. At the time, Manipal founder and Chair Ranjan Pai said the business needed "long-term patient capital". It has acquired five hospital brands since Temasek first invested in it in 2017. Meanwhile, revenue is set to grow 27% in the financial year to the end of March 2026, based on annualising results in the six months to the end of September in its IPO prospectus, with a 6% net profit margin.
At a time when global investors are cooling on Indian equities, it helps that Manipal's footprint is concentrated in the southern states where incomes are higher and patients older. Even so, the targeted headline valuation for the hospital chain would value it at 107 times its annualised first-half earnings, Breakingviews calculates, nearly double the multiple of its top three rivals Apollo Hospitals APLH.NS, Fortis Healthcare FOHE.NS and Max Healthcare MAXE.NS. Manipal is more efficient than its rivals yet its average revenue per bed is only about 5% higher than Apollo Hospitals' and 4% higher than Fortis Healthcare.
True, hospital valuations have swung wildly in India, with Apollo's nearly halving from two years ago but Temasek doesn't need such a grand debut for its bet on Manipal to stack up, and forcing one could cast a shadow over its ambitions to increase its exposure to the country.
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CONTEXT NEWS
India's Manipal Health Enterprises filed for an up to $1.17 billion initial public offering on March 23. The initial public offering comprises a fresh issue to raise $852.2 million and an offer for sale by existing investors including Singapore's Temasek, U.S. investment firm TPG, Manipal Education and Novo Holdings, according to its draft prospectus.
The company is targeting a valuation of up to $13 billion, Bloomberg reported on March 24, citing people familiar with the matter.
Manipal has expanded quickly via acquisitions since 2021 https://www.reuters.com/graphics/BRV-BRV/byprnxyrnpe/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Ujjaini Dutta
BENGALURU, April 13 (Reuters Breakingviews) - Feverish demand for private medical care in India will aid Temasek as it lines up a $1.2 billion initial public offering of Manipal Hospitals, the country's largest chain with 12,000 beds. Yet at a mooted $13 billion valuation, the Singapore sovereign investor may be stretching too far to crystallise a strong exit on one of its rare controlling stakes.
Its 51% holding in Manipal is part of Temasek’s S$434 billion ($324 billion) global portfolio which boasts a growing footprint in India. The South Asian country accounts for about 8% of underlying assets, up from 5% a decade ago. Its exposure could rise higher in the coming years under Piyush Gupta; in November, Temasek appointed the former DBS Group DBSM.SI chief executive as its India chair. Manipal’s listing hands the bank its first IPO mandate in India.
The Singaporean investment firm valued the company at just under $5 billion in 2023 when it picked up a 41% stake for $2 billion. At the time, Manipal founder and Chair Ranjan Pai said the business needed "long-term patient capital". It has acquired five hospital brands since Temasek first invested in it in 2017. Meanwhile, revenue is set to grow 27% in the financial year to the end of March 2026, based on annualising results in the six months to the end of September in its IPO prospectus, with a 6% net profit margin.
At a time when global investors are cooling on Indian equities, it helps that Manipal's footprint is concentrated in the southern states where incomes are higher and patients older. Even so, the targeted headline valuation for the hospital chain would value it at 107 times its annualised first-half earnings, Breakingviews calculates, nearly double the multiple of its top three rivals Apollo Hospitals APLH.NS, Fortis Healthcare FOHE.NS and Max Healthcare MAXE.NS. Manipal is more efficient than its rivals yet its average revenue per bed is only about 5% higher than Apollo Hospitals' and 4% higher than Fortis Healthcare.
True, hospital valuations have swung wildly in India, with Apollo's nearly halving from two years ago but Temasek doesn't need such a grand debut for its bet on Manipal to stack up, and forcing one could cast a shadow over its ambitions to increase its exposure to the country.
Follow Ujjaini Dutta on LinkedIn and X
CONTEXT NEWS
India's Manipal Health Enterprises filed for an up to $1.17 billion initial public offering on March 23. The initial public offering comprises a fresh issue to raise $852.2 million and an offer for sale by existing investors including Singapore's Temasek, U.S. investment firm TPG, Manipal Education and Novo Holdings, according to its draft prospectus.
The company is targeting a valuation of up to $13 billion, Bloomberg reported on March 24, citing people familiar with the matter.
Manipal has expanded quickly via acquisitions since 2021 https://www.reuters.com/graphics/BRV-BRV/byprnxyrnpe/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
April 1 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
UNIT RECEIVES INCOME TAX ORDER WITH DEMAND OF 1.49 BILLION RUPEES
Source text: ID:nBSE7Q2chs
Further company coverage: FOHE.NS
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April 1 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
UNIT RECEIVES INCOME TAX ORDER WITH DEMAND OF 1.49 BILLION RUPEES
Source text: ID:nBSE7Q2chs
Further company coverage: FOHE.NS
(([email protected];))
Feb 13 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE DEC-QUARTER CONSOL NET PROFIT 1.97 BILLION RUPEES
FORTIS HEALTHCARE LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.65 BILLION RUPEES
Source text: ID:nNSE4BKNh
Further company coverage: FOHE.NS
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Feb 13 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE DEC-QUARTER CONSOL NET PROFIT 1.97 BILLION RUPEES
FORTIS HEALTHCARE LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.65 BILLION RUPEES
Source text: ID:nNSE4BKNh
Further company coverage: FOHE.NS
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Jan 22 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
INQUIRY DIRECTED AGAINST THIRD PARTY OFFICERS FOR PERJURY
Source text: ID:nNSEbNc38B
Further company coverage: FOHE.NS
(([email protected];))
Jan 22 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
INQUIRY DIRECTED AGAINST THIRD PARTY OFFICERS FOR PERJURY
Source text: ID:nNSEbNc38B
Further company coverage: FOHE.NS
(([email protected];))
Jan 6 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
TAX AUTHORITY CONFIRMED DEMAND OF 59.8 MILLION RUPEES
Source text: ID:nBSE1jQsYj
Further company coverage: FOHE.NS
(([email protected];))
Jan 6 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
TAX AUTHORITY CONFIRMED DEMAND OF 59.8 MILLION RUPEES
Source text: ID:nBSE1jQsYj
Further company coverage: FOHE.NS
(([email protected];))
Dec 30 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
GETS ORDERS FOR TAX DEMANDS AGGREGATING TO 214 MILLION RUPEES
Source text: ID:nNSE67r4w6
Further company coverage: FOHE.NS
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Dec 30 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
GETS ORDERS FOR TAX DEMANDS AGGREGATING TO 214 MILLION RUPEES
Source text: ID:nNSE67r4w6
Further company coverage: FOHE.NS
(([email protected];))
Dec 3 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD - ESCORTS HEART INSTITUTE FILES WRIT PETITION AGAINST CGST DELHI
Source text: ID:nBSE1QgJvt
Further company coverage: FOHE.NS
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Dec 3 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD - ESCORTS HEART INSTITUTE FILES WRIT PETITION AGAINST CGST DELHI
Source text: ID:nBSE1QgJvt
Further company coverage: FOHE.NS
(([email protected];;))
Oct 1 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD - O&M AGREEMENT EFFECTIVE OCT 1, 2025 FOR GLENEAGLES BGS HOSPITAL
Source text: ID:nBSE30mBXC
Further company coverage: FOHE.NS
Oct 1 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
FORTIS HEALTHCARE LTD - O&M AGREEMENT EFFECTIVE OCT 1, 2025 FOR GLENEAGLES BGS HOSPITAL
Source text: ID:nBSE30mBXC
Further company coverage: FOHE.NS
** Shares of Fortis Healthcare FOHE.NS rise 5% to 900.95 rupees
** Co's Q1 consol net profit rises 53.3% Y/Y to 2.67 bln rupees ($29.7 mln)
** Q1 consol revenue jumps 16.6% Y/Y to 21.67 bln rupees
** Trading vols at 2 mln shares so far, over 1.3x the 30-day average
** FOHE up ~25% YTD
($1 = 87.6810 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Fortis Healthcare FOHE.NS rise 5% to 900.95 rupees
** Co's Q1 consol net profit rises 53.3% Y/Y to 2.67 bln rupees ($29.7 mln)
** Q1 consol revenue jumps 16.6% Y/Y to 21.67 bln rupees
** Trading vols at 2 mln shares so far, over 1.3x the 30-day average
** FOHE up ~25% YTD
($1 = 87.6810 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
July 23 (Reuters) - IHH Healthcare Bhd IHHH.KL:
FORTIS HEALTHCARE AND GLENEAGLES HEALTHCARE INDIA DEEPEN COLLABORATION TO STRENGTHEN BUSINESS GROWTH
UNDER OPERATION AND MAINTENANCE SERVICES AGREEMENT, FORTIS WILL MANAGE OPERATIONS OF 5 OUT OF 6 HOSPITALS UNDER GLENEAGLES INDIA NETWORK
Further company coverage: IHHH.KL
(([email protected];))
July 23 (Reuters) - IHH Healthcare Bhd IHHH.KL:
FORTIS HEALTHCARE AND GLENEAGLES HEALTHCARE INDIA DEEPEN COLLABORATION TO STRENGTHEN BUSINESS GROWTH
UNDER OPERATION AND MAINTENANCE SERVICES AGREEMENT, FORTIS WILL MANAGE OPERATIONS OF 5 OUT OF 6 HOSPITALS UNDER GLENEAGLES INDIA NETWORK
Further company coverage: IHHH.KL
(([email protected];))
** India's Fortis Healthcare FOHE.NS jumps 7.7%, set to snap three-session losing streak
** Hospitals operator expects ~15% rev growth in FY26 and double-digit pct growth in diagnostics business
** Jefferies analysts say that is much higher than what they "penciled in"
** Ambit Capital analysts say forecast shows benefits from new hospitals will continue to accrue
** Analysts avg rating on FOHE, peers Max Health MAXE.NS and Apollo Hospitals APLH.NS is "buy" -LSEG data
** Session's gains erase FOHE's 2025 losses; Max up ~1% YTD, while Apollo down ~5%
(Reporting by Kashish Tandon in Bengaluru)
** India's Fortis Healthcare FOHE.NS jumps 7.7%, set to snap three-session losing streak
** Hospitals operator expects ~15% rev growth in FY26 and double-digit pct growth in diagnostics business
** Jefferies analysts say that is much higher than what they "penciled in"
** Ambit Capital analysts say forecast shows benefits from new hospitals will continue to accrue
** Analysts avg rating on FOHE, peers Max Health MAXE.NS and Apollo Hospitals APLH.NS is "buy" -LSEG data
** Session's gains erase FOHE's 2025 losses; Max up ~1% YTD, while Apollo down ~5%
(Reporting by Kashish Tandon in Bengaluru)
Adds background in paragraphs 3,5-6
May 20 (Reuters) - IHH Healthcare IHHH.KL said on Tuesday its unit has filed a petition in a Tokyo court to revise damages sought from Japan's Daiichi Sankyo 4568.T over its Fortis Healthcare FOHE.NS stake buy to up to 109.3 billion rupees ($1.28 billion).
Northern TK Venture (NTK) — a subsidiary of IHH — had filed a claim in October 2023 alleging the Japanese drugmaker caused losses to the company by preventing it from proceeding with open offers to buy a stake in the Indian hospital chain in 2018.
IHH, Asia's largest healthcare operator, had bought a 31% interest in Fortis through NTK, but later halted its open offer to buy an additional 26% after the Japanese company filed a contempt plea against the founders of the Indian company.
The latest petition filed by NTK seeks another 2.7 million rupees for losses arising from the unit's defamation claim against Daiichi Sankyo and accrued interest on the damages claimed.
An expert report authorised by NTK in February included an analysis and quantification of the damages that NTK suffered based on three scenarios.
The report potentially entitled the unit to damages between 4.24 billion rupees and 109.3 billion rupees.
Malaysia's IHH had initially approached a Tokyo district court in November 2023, seeking an order directing Daiichi Sankyo to pay 20 billion yen as damages to NTK.
The next hearing is scheduled for July 11, IHH said.
Daiichi Sankyo and Fortis did not immediately respond to Reuters' requests for comment.
($1 = 85.5530 Indian rupees)
($1 = 144.5200 yen)
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar)
Adds background in paragraphs 3,5-6
May 20 (Reuters) - IHH Healthcare IHHH.KL said on Tuesday its unit has filed a petition in a Tokyo court to revise damages sought from Japan's Daiichi Sankyo 4568.T over its Fortis Healthcare FOHE.NS stake buy to up to 109.3 billion rupees ($1.28 billion).
Northern TK Venture (NTK) — a subsidiary of IHH — had filed a claim in October 2023 alleging the Japanese drugmaker caused losses to the company by preventing it from proceeding with open offers to buy a stake in the Indian hospital chain in 2018.
IHH, Asia's largest healthcare operator, had bought a 31% interest in Fortis through NTK, but later halted its open offer to buy an additional 26% after the Japanese company filed a contempt plea against the founders of the Indian company.
The latest petition filed by NTK seeks another 2.7 million rupees for losses arising from the unit's defamation claim against Daiichi Sankyo and accrued interest on the damages claimed.
An expert report authorised by NTK in February included an analysis and quantification of the damages that NTK suffered based on three scenarios.
The report potentially entitled the unit to damages between 4.24 billion rupees and 109.3 billion rupees.
Malaysia's IHH had initially approached a Tokyo district court in November 2023, seeking an order directing Daiichi Sankyo to pay 20 billion yen as damages to NTK.
The next hearing is scheduled for July 11, IHH said.
Daiichi Sankyo and Fortis did not immediately respond to Reuters' requests for comment.
($1 = 85.5530 Indian rupees)
($1 = 144.5200 yen)
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Shilpi Majumdar)
May 5 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
RECTIFICATION ORDER RECEIVED UNDER INCOME TAX ACT
TAX DEMAND REDUCED TO NIL FOR FORTIS HOSPITALS
Source text: ID:nBSEkJg5n
Further company coverage: FOHE.NS
(([email protected];;))
May 5 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
RECTIFICATION ORDER RECEIVED UNDER INCOME TAX ACT
TAX DEMAND REDUCED TO NIL FOR FORTIS HOSPITALS
Source text: ID:nBSEkJg5n
Further company coverage: FOHE.NS
(([email protected];;))
April 2 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
DELHI HIGH COURT CONFIRMS SALE OF FORTIS MARKS TO FORTIS HEALTHCARE
Further company coverage: FOHE.NS
(([email protected];;))
April 2 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
DELHI HIGH COURT CONFIRMS SALE OF FORTIS MARKS TO FORTIS HEALTHCARE
Further company coverage: FOHE.NS
(([email protected];;))
March 21 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
EX-PARTE INJUNCTION ORDER RESTRAINS SALE OF SHRIMANN HOSPITAL
SHRIMANN HOSPITAL SEEKS AMICABLE SETTLEMENT TO VACATE INJUNCTION ORDER
Source text: ID:nBSE74DDNC
Further company coverage: FOHE.NS
(([email protected];))
March 21 (Reuters) - Fortis Healthcare Ltd FOHE.NS:
EX-PARTE INJUNCTION ORDER RESTRAINS SALE OF SHRIMANN HOSPITAL
SHRIMANN HOSPITAL SEEKS AMICABLE SETTLEMENT TO VACATE INJUNCTION ORDER
Source text: ID:nBSE74DDNC
Further company coverage: FOHE.NS
(([email protected];))
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Popular questions
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What does Fortis Healthcare do?
Fortis Healthcare is a leading integrated healthcare delivery service provider. The Company is primarily engaged in the business of healthcare services. The Company also holds interests in its subsidiaries, associates and joint ventures which manage and operate a network of multi-specialty hospitals and diagnostics centers.As part of its ongoing commitment to information security, the company deployed next-generation solutions across network for secure network access, application protection, and continuous monitoring.
Who are the competitors of Fortis Healthcare?
Fortis Healthcare major competitors are Aster DM Quality, Narayana Hrudayalay., Global Health, Krishna Inst.Medi, Max Healthcare Inst., RainbowChildrenS Med, Healthcare Global. Market Cap of Fortis Healthcare is ₹65,568 Crs. While the median market cap of its peers are ₹37,775 Crs.
Is Fortis Healthcare financially stable compared to its competitors?
Fortis Healthcare seems to be less financially stable compared to its competitors. Altman Z score of Fortis Healthcare is 8.49 and is ranked 5 out of its 8 competitors.
Does Fortis Healthcare pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Fortis Healthcare latest dividend payout ratio is 7.25% and 3yr average dividend payout ratio is 9.87%
How has Fortis Healthcare allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Fortis Healthcare balance sheet?
Balance sheet of Fortis Healthcare is strong. But short term working capital might become an issue for this company.
Is the profitablity of Fortis Healthcare improving?
Yes, profit is increasing. The profit of Fortis Healthcare is ₹1,052 Crs for TTM, ₹1,042 Crs for Mar 2026 and ₹774 Crs for Mar 2025.
Is the debt of Fortis Healthcare increasing or decreasing?
Yes, The net debt of Fortis Healthcare is increasing. Latest net debt of Fortis Healthcare is ₹1,794 Crs as of Mar-26. This is greater than Mar-25 when it was ₹1,188 Crs.
Is Fortis Healthcare stock expensive?
Yes, Fortis Healthcare is expensive. Latest PE of Fortis Healthcare is 63.92, while 3 year average PE is 61.53. Also latest EV/EBITDA of Fortis Healthcare is 32.52 while 3yr average is 29.07.
Has the share price of Fortis Healthcare grown faster than its competition?
Fortis Healthcare has given better returns compared to its competitors. Fortis Healthcare has grown at ~39.01% over the last 3yrs while peers have grown at a median rate of 23.22%
Is the promoter bullish about Fortis Healthcare?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Fortis Healthcare is 31.17% and last quarter promoter holding is 31.17%.
Are mutual funds buying/selling Fortis Healthcare?
The mutual fund holding of Fortis Healthcare is increasing. The current mutual fund holding in Fortis Healthcare is 25.81% while previous quarter holding is 25.72%.