Buy Fortis Healthcare; target of Rs 400: Prabhudas Lilladher
Prabhudas Lilladher is bullish on Fortis Healthcare has recommended buy rating on the stock with a target price of Rs 400 in its research report dated November 12, 2023.16-11-2023
16-11-2023
FORTIS HEALTHCARE LTD. - 532843 - Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations).
This is to inform you that RHT Health Trust had earlier filed an application to Singapore Court for its winding-up. In terms of Reg 30 of SEBI Listing Regulations read with SEBI Circular dated July 13, 2023, we would like to inform you that today i.e. November 15, 2023, the Hon''ble High Court of Singapore has passed an order allowing the winding up of RHT Health Trust, an associate of the Company based out of SIngapore. The Court has ordered appointment of liquidators to carry out the winding-up process. Copy of the order passed today is awaited. We will inform you in case of any further development on this matter.15-11-2023
FORTIS HEALTHCARE LTD. - 532843 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Pursuant to Reg 30 of SEBI LODR Regulations 2015, please find enclosed herewith the Transcript of the investors / analysts meet held on November 10, 2023 to discuss the Company''s un-audited financial results for the quarter and period ended September 30, 2023.15-11-2023
Malaysia's IHH Healthcare claims 20 billion yen damages from Japan's Daiichi Sankyo for interfering in its Fortis Healthcare deal in India
The claim is not expected to have material impact on Fortis' operations or finances15-11-2023
FORTIS HEALTHCARE LTD. - 532843 - Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations).
In terms of Regulation 30(4) of SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, we hereby submit the details of a material litigation filed by Northern TK Venture Pte Ltd., the Promoter Shareholder of the Company, against Daiichi Sankyo Company Limited before the Tokyo District Court in Japan, as per details given in enclosed disclosure.14-11-2023
Fortis Healthcare shares slip; net profit falls 15% in Q2
The hospital operator reported a revenue of Rs 1,770 crore, reflecting a YoY rise of 10 percent.13-11-2023
FORTIS HEALTHCARE LTD. - 532843 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Reg 47 of SEBI LODR Regulations, please find enclosed copies of newspaper advertisements published on November 11, 2023 with respect to un-audited financial results of the Company for the quarter and period ended on September 30, 2023.11-11-2023
FORTIS HEALTHCARE LTD. - 532843 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the investors / analysts meet held on November 10, 2023 to discuss the Company's un-audited financial results for the quarter and period ended September 30, 2023 is available on the website of the Company.11-11-2023
Fortis Healthcare Q2 results: Net profit down 16% at Rs 184 crore
Fortis Healthcare Q2 results: The hospital operator reported revenue at Rs 1,770 crore, reflecting a year-on-year rise of 10 percent from Rs 1,607 crore.10-11-2023
Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Fortis Healthcare Ltd.
Fortis Healthcare announced Q2FY24 & H1FY24 results: Q2FY24: Consolidated revenues at Rs 1,770 crore, up 10.1% Operating EBITDA at Rs 330 crore, 18.6% margin Hospital Business Q2FY24 revenues up 12% to Rs 1,453 crore Operating EBITDA at Rs 268 crore, 18.4% margin Hospital business ARPOB increases 11.8% to Rs 2.21 crore Agilus Diagnostics files DRHP for a proposed IPO H1FY24: Consolidated revenues were at Rs 3,427.4 crore, up 10.7% versus H1FY23. The operating margins for H1FY24 were 17.6%, marginally lower than the 17.9% in the corresponding previous period. Hospital business revenues grew 12.7% to Rs 2,806.7 crore as compared to Rs 2,489.3 crore in H1FY23. Operating margins stood at 16.9% for the period versus 17.3% in the corresponding previous period. Diagnostic business gross revenues were at Rs 702.9 crore versus Rs 683.8 crore in H1FY23 Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare stated, “Our Q2FY24 performance has seen the hospital business profitability increasing both versus the corresponding and trailing quarter. We remain on track to add approx. 250 beds to our network in the current fiscal across facilities such as Mulund, Anandpur, and Ludhiana with a total planned addition of close to 1,400 beds in the next few years. Further augmenting our bed expansion plans in the Delhi – NCR and the Punjab clusters, we are also evaluating new expansion opportunities including optimizing the current available space to add additional beds in Mohali and Shalimar Bagh. Following from the divestment of our Arcot Road, Chennai facility in July 2023, our focus on evaluating further portfolio rationalization opportunity continues. Efforts to implement the EMR technology are ongoing and offer a platform to integrate this with our HIS, myFortis app, and other applications. This could enable us to digitize the patient journey and provide a ‘Personalized Experience’ to our patients. I’m pleased to highlight that in September 2023 we filed the Draft Red Herring Prospectus (DRHP) for a proposed IPO of Agilus Diagnostics, our diagnostics business vertical.” Commenting on the results for the quarter, Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “Our consolidated revenues in Q2FY24 have grown 10.1% to Rs 1,770 crore with operating EBITDA margins at 18.6%. Our hospital business has seen a significant improvement versus the trailing quarter with margins expanding 320 bps and are also better than Q2 of the previous year. Operating margins in the hospital business were at 18.4%, better than 18.2% on a YoY basis. This is attributable in part to a stronger case mix and growth in medical tourism revenues. Our focus on improving our specialty mix has led to a 13.4% growth cumulatively in our top 6 specialties with surgical contribution improving to 61.2% versus 60.5% in Q2 of the previous year. This is also reflected in the 11.8% growth witnessed in ARPOB which stood at Rs 2.21 crore. We have commissioned new medical equipment such as LINAC and Ortho Robots at select facilities such as Noida, Shalimar Bagh, and FMRI and have further bolstered our clinical talent; onboarding clinicians in several specialties including amongst others Oncology, Neurology, and Renal Sciences. These along with our brownfield bed expansion plans and a continuing focus on inorganic opportunities are expected to drive further growth in the business.” Result PDF10-11-2023