Fortis Healthcare PAT jumps 44% in Q4 as EBITDA margins expand; FY26 profit rises 31%
New Delhi, May 23
Fortis Healthcare Ltd. posted strong double-digit growth across revenue and profitability in FY26, with Q4 net profit climbing 44.2% YoY and operating margins improving on higher occupancy and speciality-led volumes, the company said in a press release on Thursday.
For the quarter ended March 31, 2026, consolidated revenues rose 17.8% YoY to Rs 2,365 Cr, while operating EBITDA increased 22.2% to Rs 531 Cr. Margins expanded to 22.5% from 21.7% a year earlier. Profit After Tax for Q4 stood at Rs 271 Cr, up 44.2% from Rs 188 Cr in Q4 FY25. The board recommended a dividend of Rs 1 per share, or 10% of face value.
For the full year FY26, Fortis reported consolidated revenue of Rs 9,128 Cr, up 17.3% over FY25. Operating EBITDA grew 31.3% to Rs 2,085 Cr, with margins improving to 22.8% from 20.4% last year. PAT for FY26 came in at Rs 1,064 Cr, a 31.5% increase YoY.
The hospital business, which contributed 85% of overall revenues, saw FY26 revenue rise 19.1% to Rs 7,773 Cr and Q4 revenue grow 19.0% to Rs 2,023 Cr. Operating EBITDA for the segment was up 28.7% for the year at Rs 1,724 Cr, with margins at 22.2% versus 20.5% in FY25. Growth was driven by a 15% increase in occupied beds for FY26 and 17% for Q4. Key procedure volumes in focus specialties increased, with Radiation Therapy up 19% and Robotic Surgeries up 66% YoY. The top six specialties -- Cardiac, Orthopedics, Neurology, Gastroenterology, Oncology and Renal Sciences -- grew 18.9% and accounted for ~62% of hospital revenue. International patient revenues rose 18.5% to Rs 639 Cr, contributing 7.8% to hospital business revenues.
The company's diagnostics business under Agilus posted FY26 revenue of Rs 1,527 Cr, up 8.5% YoY, while Q4 revenue grew 11.1% to Rs 387 Cr. Operating EBITDA for diagnostics jumped 44.7% to Rs 360 Cr for the year, with margins at 23.6% versus 17.7% in FY25. Test volumes rose to ~40.8 Mn from ~39.2 Mn, and the preventive portfolio grew 21%, raising its revenue share to 13% from 11%.
Net debt as of March 31, 2026 stood at Rs 2,334 Cr, with Net Debt to EBITDA at 1.09x versus 0.93x a year ago. The increase was attributed to the acquisition of People Tree Hospital in Bengaluru and Shrimann Hospital in Jalandhar, among other investments.
"We have witnessed a steady business performance in Q4 enabling us to end the year on a healthy note," said Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare. He noted that the top six specialties grew 19% in FY26, with Renal Sciences and Orthopedics up 22% and 21%, respectively. "We added ~500 beds to our network through acquisitions and a long-term lease arrangement for the Greater Noida Hospital," he added, stating that the company continues to evaluate further inorganic growth opportunities in focus clusters.
Fortis currently operates 36 healthcare facilities across 12 states with 6,100 operational beds and over 400 diagnostics labs.
— ANI
Reader Comments
I follow Fortis from the US. Their focus on robotics and specialty care is smart. 66% growth in robotic surgeries shows they're investing in cutting-edge tech. The international patient revenue of Rs 639 Cr is also a good sign for medical tourism in India.
As someone who works in healthcare, these numbers are encouraging. But I'm concerned about the increasing net debt – Rs 2,334 Cr is a lot. Yes, they acquired hospitals, but debt-to-EBITDA at 1.09x needs monitoring. Hope the new beds in Greater Noida and Bengaluru generate enough revenue to service this.
Happy for Fortis shareholders, but as a common citizen, I wonder: when will we see lower treatment costs? 🏥 The top 6 specialties account for 62% of revenue – these are exactly the areas where middle-class families struggle. Good for the business, bad for the common man's pocket.
The diagnostics business (Agilus) is a hidden gem! 44.7% EBITDA growth and margins at 23.6% are fantastic. Preventive portfolio growing 21% shows people are getting health-conscious. 💪 If Fortis can replicate this across more cities, they'll dominate the diagnostics space too.
Rs 1 dividend per share? That's just 0.5% yield at current prices. 😕 With PAT up 44%, I expected a higher dividend. Maybe they're reinvesting for growth – 500 new beds is significant. But shareholders deserve a bit more love, especially with stock at Rs 650 levels.
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