Live Fortis Healthcare Share Price Chart

O 432

H 432

L 432

VOL 1230

Fortis Healthcare Performance

Days Range

Low: ₹429.30
High: ₹443.40
Previous Close ₹435.90
Open ₹432.00
Volume 21,77,323
Day’s Range ₹429.30 - ₹443.40
52W Range ₹254.75 - ₹469.70
Market Cap ₹32,950 Cr

Fortis Healthcare Fundamentals

ROCE (TTM) 10.43
P/E Ratio (TTM) 59.62
P/B Ratio 4.33
Industry P/E 68.95
Debt to Equity 0.14
ROE 7.2
EPS (TTM) 7.09
Dividend Yield 0.23
Book Value 100.8
Face Value 10

Fortis Healthcare Financials

Mar 2023Jun 2023Sep 2023Dec 2023
Net Sales1,642.71,657.411,769.951,679.68
Expenses1,453.611,464.191,523.91,482.62
Profit before tax183.41170.73232.71183.15
Operating Profit138.3123.95183.9134.23
Net Profit138.3123.95183.9134.23
EPS in Rs1.621.462.251.67

About Fortis Healthcare

History 

Fortis Healthcare Limited (FHL), a leading healthcare provider in India, operates 27 hospitals, approximately 4500 beds, and over 426 diagnostic centres as of March 31, 2023. With a presence in Dubai, Mauritius, and Sri Lanka, the company offers comprehensive healthcare services ranging from clinics to advanced care facilities, specialising in cardiac care, orthopaedics, neurosciences, oncology, renal care, gastroenterology, and maternal and child health. FHL is known for its modern facilities and the use of advanced technology in patient care.

Founded on February 28, 1996, Fortis Healthcare began operations in 2001 with the Fortis Heart Institute and Multi-Speciality Hospital in Mohali. Over the years, the company has expanded through acquisitions and partnerships. This includes acquiring a 90% stake in Escorts Heart Institute & Research Centre Ltd in 2005, which operates several hospitals in North India, and acquiring Hiranandani Healthcare Pvt Ltd in 2007 to develop a super-speciality hospital in Navi Mumbai.

In 2007-08, Fortis Healthcare went public with its IPO of ₹496.76 crore and acquired stakes in Malar Hospitals Ltd. The company also expanded internationally, establishing Fortis Healthcare International Limited as a subsidiary and acquiring a stake in Mauritius’s largest private hospital, Clinique Darne.

Fortis continued to grow through acquisitions, including the takeover of 10 hospitals from Wockhardt Hospitals Ltd in 2009. In 2010, the company entered into an agreement with TPG Capital to acquire a stake in Parkway Holdings Ltd, a leading healthcare provider in Asia.

Fortis Healthcare has focused on consolidating its presence in India in the last decade. It divested international assets, including its Singapore operations, and increased its stake in SRL Limited. The company also restructured, including a demerger of its diagnostics business and a sale of a stake in SRL to Manipal Hospitals as of March 2018.

On September 22, 2022, the Singh brothers, Malvinder and Shivinder Singh, former promoters of Fortis Healthcare, were sentenced to six months in jail by the Supreme Court of India. This was in connection with a contempt case filed by Daiichi Sankyo over a ₹3,600 crore arbitration award.

Fortis has continued to expand and modernise its facilities, adding new beds and advanced medical technologies. As of 2023, the company has strengthened its major medical programs, launched new clinics, and introduced advanced medical technologies in various specialities.

Business Segments 

  1. Healthcare 
    • Hospitals: This segment comprises a network of over 28 healthcare facilities across India, the UAE, Nepal, and Sri Lanka. These facilities range from clinics and daycare centres to multi-speciality quaternary care hospitals, offering various medical and surgical services.
    • Diagnostics: Fortis operates over 400 diagnostic centres (including JVs) across India, providing a variety of diagnostic tests and imaging services.
  1. Ancillary Services:
    • Medical Tourism: Fortis caters to international patients seeking medical treatment in India through its dedicated medical tourism team and hospital collaborations.
    • Healthcare Education: Fortis operates nursing colleges, allied healthcare training institutes, and other educational programs within its facilities.
    • Clinical Research: Fortis actively participates in clinical research trials across various therapeutic areas, collaborating with pharmaceutical companies and research institutions.
    • Pharmacy Services: Fortis operates pharmacies alongside its hospitals and diagnostic centres, providing patients with convenient access to essential medications.

Subsidiaries of Fortis Healthcare

Fortis Hospitals Limited (FHL): A 100% subsidiary of FHL, FHsL manages 15 out of 27 Fortis hospitals, totalling around 4,000 operational beds. It focuses on providing advanced medical and surgical services across various specialities, emphasising high-quality patient care and state-of-the-art infrastructure.

International Hospital Limited (IHL): As a wholly-owned subsidiary of FHL, IHL increased its stake to over 50% in 2009, bringing FHL under its control. This strategic move expanded IHL’s influence in the healthcare sector, allowing it to offer a broader range of healthcare services.

Agilus Diagnostics Limited: A subsidiary of FHL, Agilus has carved a niche in retail and B2B diagnostics. It manages over 479 labs and has over 3,700 customer touchpoints in India, offering a comprehensive range of pathology and radiology services.

Key Personnel 

Dr. Ashutosh Raghuvanshi, Managing Director and CEO

Dr. Ashutosh Raghuvanshi, a seasoned cardiac surgeon turned executive, has had an illustrious 26-year career in healthcare. He completed his MS in General Surgery from MGIMS and further specialised in Cardiac Surgery with an MCh from the University of Bombay. His professional journey includes significant roles at Bombay Hospital, Apollo Hospitals, Vijaya Heart Foundation, and Manipal Heart Foundation. A key achievement in his career was founding the Rabindranath Tagore International Institute of Cardiac Sciences in Kolkata in 2000, now a leading multispecialty hospital in Eastern India. Before his tenure at Fortis, Dr. Raghuvanshi played a pivotal role at Narayana Health as Vice Chairman, Managing Director, and Group CEO, overseeing operations of the group’s hospitals in India and abroad.

Management Outlook

  • Fortis Healthcare Limited is expected to significantly enhance its healthcare services, targeting over 70% of the rural and 80% of the urban population in India. This expansion will likely involve increasing bed capacity and introducing advanced medical infrastructure.
  • Recognising the rapid growth of home healthcare solutions in India, Fortis will likely invest in this segment. This decision aligns with the rising elderly population, increased chronic diseases, and changing family structures in urban areas.
  • Fortis anticipates integrating advanced technologies like AI, wearable devices, and IoT into its services. This move aims to improve emergency care, medical infrastructure, and patient engagement through health applications and AI-enhanced tools.
Parent Organisation Indian Private
Founded 1996
Managing Director Ravi Rajagopal
NSE Symbol FORTIS

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Fortis Healthcare FAQs

What is the Share price of Fortis Healthcare (FORTIS)?

Fortis Healthcare (FORTIS) share price as of April 16, 2024, on NSE is Rs 441.10 (NSE) and Rs 441.00 (BSE) on BSE.

Can I buy Fortis Healthcare (FORTIS) shares?

Yes, You can buy Fortis Healthcare (FORTIS) shares by opening a Demat account with Angel One.

How do I buy Fortis Healthcare (FORTIS) from Angel One?

Fortis Healthcare (FORTIS) share can be brought through the following modes:
  1. Direct investment: You can buy Fortis Healthcare (FORTIS) shares by opening a Demat account with Angel One.
  2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Fortis Healthcare (FORTIS) shares.

Is Fortis Healthcare a Debt free Company?

No, Fortis Healthcare is not a debt free company.

What is the main business of Fortis Healthcare?

The main business of Fortis Healthcare is to provide integrated healthcare services and operate healthcare centres, such as hospitals, day care speciality facilities, and diagnostics centres.

Who are the promoters of Fortis Healthcare?

The primary promoter of Fortis Healthcare is Northern Tk Venture Pte. Ltd with a 31.17% shareholding as on 31st December 2022.

What are the Subsidiaries that comes under Fortis Healthcare?

The main subsidiaries that come under Fortis Healthcare are Escorts Heart Institute and Research Centre Limited, Fortis Healthstaff Limited, Fortis Asia Healthcare Pte. Ltd, Fortis Healthcare International Pte. Limited, Mena Healthcare Investment Company Limited, Medical Management Company Limited, SRL Diagnostics FZ-LLC, and Hiranandani Healthcare Private Ltd.