Earnings Call for Q4FY22 of Fortis Healthcare
Conference Call with Fortis Healthcare Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.26-05-2022
26-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Announcement under Regulation 30 (LODR)-Change in Directorate
Pursuant to provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held on May 25, 2022 have, inter-alia, considered and approved the Re-appointment of Mr. Ravi Rajagopal, Ms. Suvalaxmi Chakraborty and Mr. Indrajit Banerjee as Independent Directors of the Company, subject to approval of the shareholders, for the second term of upto 5 years. Further, the detailed disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/ CFD /CMD/4/2015 dated September 9, 2015 is enclosed.26-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Intimation Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Pursuant to provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held on May 25, 2022 have, inter-alia, authorised Key Managerial Personnel of the Company for the purpose of determining materiality of an event or information and for the purpose of making disclosures to the Stock Exchanges. This is for your information and record.26-05-2022
Fortis Healthcare Q4 net profit up 40% to 87 crore
Both the hospitals and the diagnostics business saw an impact in Q1 and Q4 of FY22 due to the pandemic26-05-2022
Q4FY22 Quarterly Result Announced for Fortis Healthcare Ltd.
Fortis Healthcare declares Q4FY22 result: Consolidated Revenues at INR 5,718 Crs, up 42% EBITDA at INR 1,096 Crs, 19.2% margin (FY21: 11.2%) PAT at INR 790 Crs versus a loss of INR 56 Crs Consolidated Revenues at INR 1,378 Crs, up 10% EBITDA at INR 227 Crs, 16.5% margin (Q4 FY21 :16.3%) PAT at INR 87 Crs versus INR 62 Crs Q4FY22 Hospital Business revenues grew 6% to INR 1,041 Crs versus INR 982 Crs in Q4FY21. Covid business revenues contributed 5.8% to overall hospital revenues. (Q4 FY21 : 6.9%) The hospital business EBITDA was at INR 143 Crs versus INR 139 Crs in Q4FY21 (13.8% margin versus 14.2% in Q4 FY21). For FY22, Hospital Business revenues grew 37% to INR 4,264 Crs versus INR 3,124 Crs in FY21. Covid business revenues contributed 9.1% to overall hospital revenues. (FY21 : 13.7%). Revenue growth was primarily as a result of occupancy improving to 63% from 55% in FY21 and a higher ARPOB. EBITDA was at INR 672 Crs versus INR 263 Crs, reflecting a margin of 15.8% versus 8.4% in FY21. A higher surgical revenue contribution at 53% to overall hospital revenues (FY21: 49%) and increased complexity of cases resulted in margin expansion. Q4 FY22 Diagnostics Business gross revenues grew 22% to INR 372 Crs versus INR 306 Crs in Q4FY21. Covid business revenues contributed 18% to overall diagnostic revenues. (Q4 FY21: 17%) The diagnostics business EBITDA was at INR 84 Crs versus INR 67 Crs in Q4FY21. (22.5% margin versus 22% in Q4 FY21) For FY22, Diagnostic Business gross revenues grew 55% to INR 1,605 Crs versus INR 1,035 Crs in FY21. Covid business revenues contributed 20.3% to overall diagnostic revenues. (FY21: 23.5%), Revenue growth was in part due to higher covid volumes in Q1 and Q4 of FY22 and the DDRC – SRL acquisition. EBITDA was at INR 425 Crs versus INR 200 Crs, reflecting a margin of 26.5% versus 19.3% in FY21 Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare stated, “FY22 has been a challenging year with the Company being impacted by the covid pandemic both in Q1 and Q4 of FY22. Despite this, the Company made all efforts to ensure the availability of medical infrastructure and treatment for covid patients. At the same time, as covid abated and business rebounded, all the building blocks were in place to quickly scale up operations and refocus on our growth levers. To this effect, hiring new clinical talent, expanding medical programs and initiating brownfield expansion plans were prioritized and are currently ongoing. The diagnostics business witnessed a healthy performance aided in part by the DDRC – SRL transaction and due to higher covid volumes. While our Q4 performance was impacted by the omicron variant, business recovered speedily enabling us to end the year on a healthy note. Given our strong Balance Sheet and a continuous focus on performance improvement, we expect to maintain a steady growth momentum going forward.” Commenting on the results for the quarter and the year, Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “I’m quite pleased with our performance in the year gone by. The pandemic while presenting its own set of challenges has also made us more resilient and enabled us to adapt to the changing environment. We have not only ensured business continuity but have moved quickly to augment our efforts both strategically and operationally. This has enabled us to register our highest ever revenues and a consolidated EBITDA of INR 1000+ Crs. Our hospital occupancy leveIs have increased to 63% from 55% in FY21 and we continue to see further traction in occupancy in the current fiscal. Our diagnostics business has shown a steady improvement and is further expanding its channel network and product mix. Q4 has been impacted due to the third wave of covid but has been less severe allowing the business to recover quickly. However, we must keep in perspective that high covid test volumes are unlikely in the current fiscal and of the increasing competition in the space." Result PDF26-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Outcome Of The Board Meeting And Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today i.e. May 25, 2022, inter-alia, considered and approved the following: (i) Audited Standalone and Consolidated Financial results of the Company for the quarter and financial year ended March 31, 2022. M/s B S R and Co. LLP, the Statutory Auditors of the Company have issued an Audit Report with unmodified opinion. Further, a copy of the press release and investor presentation being issued in this regard is also enclosed. (ii) Re-appointment of Mr. Ravi Rajagopal, Ms. Suvalaxmi Chakraborty and Mr. Indrajit Banerjee as Independent Directors of the Company, subject to approval of the shareholders, for the second term of upto 5 years.25-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Board Meeting Outcome for Outcome Of The Board Meeting And Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today i.e. May 25, 2022, inter-alia, considered and approved the following: (i) Audited Standalone and Consolidated Financial results of the Company for the quarter and financial year ended March 31, 2022. M/s B S R and Co. LLP, the Statutory Auditors of the Company have issued an Audit Report with unmodified opinion. (ii) Re-appointment of Mr. Ravi Rajagopal, Ms. Suvalaxmi Chakraborty and Mr. Indrajit Banerjee as Independent Directors of the Company, subject to approval of the shareholders, for the second term of upto 5 years.25-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Compliances-Reg.24(A)-Annual Secretarial Compliance
In compliance with Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD1/27/2019 dated February 8, 2019, as amended, please find enclosed the Annual Secretarial Compliance Report of the Company for the Financial Year 2021-22. This is for your information and records please.24-05-2022
FORTIS HEALTHCARE LTD. - 532843 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
In compliance of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find below schedule of upcoming conference call invite to discuss the Company's Audited Financial Results for the quarter and year ended March 31, 2022: Date & Time: May 26, 2022 at 11:00 a.m. (IST). Investors / Analysts / Events: Q4FY22 & FY22 Post Results Conference Call Invite. Location: Virtual Conference. Please find enclosed herewith dial-in numbers alongwith participation link.20-05-2022