Fortis Healthcare Limited — Investor Meet, 17-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Fortis Healthcare reported strong Q2 FY26 results:

* **Financials:** Consolidated revenue rose 17.3% to INR 2,331 Cr, with hospital revenue growing 19.3% to INR 1,974 Cr and diagnostics up 7.1% to INR 357 Cr. Operating EBITDA surged 28% to INR 556 Cr, boosting consolidated margins to 23.9% and hospital margins to 22.9%. PAT increased 20.7% to INR 305 Cr. Net debt stands at INR 2,219 Cr (0.96x EBITDA) following recent acquisitions.

* **Operations & Growth:** Hospital occupancy reached 71%, driving ARPOB up 5.8%. Oncology revenue jumped 29%. Fortis added 550 operational beds in H1 FY26 through new acquisitions and O&M/lease agreements. Diagnostics margins also improved significantly to 26.1%, despite lower test volumes due to the exit from low-ticket Mohalla Clinics.

* **Outlook:** Management is confident in sustaining growth and margin expansion, targeting 25% hospital EBITDA margins in the coming years. Strategic initiatives and operational efficiencies are expected to drive performance. Legal expenses are projected to significantly reduce.