Fortis Healthcare Ltd - Stock Valuation and Financial Performance

BSE: 532843 | NSE: FORTIS | Hospital & Healthcare Services | Mid Cap

Fortis Healthcare Share Price

430.40 -2.95 -0.68%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Fortis Healthcare

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Fortis Healthcare stock performance -

mw4me loader
P/E Ratio (SA):
243.96
Market Cap:
32,493.4 Cr.
52-wk low:
254.5
52-wk high:
469.5

Is Fortis Healthcare Ltd an attractive stock to invest in?

1. Is Fortis Healthcare Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Fortis Healthcare Ltd is a below average quality company.

2. Is Fortis Healthcare Ltd undervalued or overvalued?

The key valuation ratios of Fortis Healthcare Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Fortis Healthcare Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Fortis Healthcare Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Fortis Healthcare:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Fortis Healthcare Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 1.7%0.8%0.3%1%-0.5%3.5%6.5%0.6%0.8%1.8%-
Value Creation
Index
-0.9-1.0-1.0-0.9-1.0-0.7-0.5-1.0-0.9-0.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3696116126456596567026338631,0531,151
Sales YoY Gr.-65.5%0.2%5.5%2.2%-0.5%6.9%-9.8%36.3%22.1%-
Adj EPS 0.3-0.4-0.7-0.5-1.31.66.8-0.5-0.21.31.8
YoY Gr.--224.2%NANANANA320.4%-107.9%NANA-
BVPS (₹) 80.279.580.782.180.9110.4117.6117.6117.5118.7119.5
Adj Net
Profit
15.3-18.8-32.5-24.2-68.1123514-40.5-13.196.7133
Cash Flow from Ops. -44.7-144-76121.7-14.8-61.399.931.976.5198-
Debt/CF from Ops. -28.6-8.6-1.429.8-37.5-23.77.224.48.41.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.4%9.8%14.5%22.1%
Adj EPS 16.3%NA-42.7%NA
BVPS4.5%8%0.3%1.1%
Share Price 16% 25.5% 29% 62.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.4-0.5-0.9-0.6-1.626-0.5-0.21.11.5
Op. Profit
Mgn %
-21.6-20.4-20.4-12.1-5.7-18.79.84.413.412.713.1
Net Profit
Mgn %
4.2-3.1-5.3-3.8-10.318.773.2-6.4-1.59.211.5
Debt to
Equity
0.30.30.30.20.10.20.10.10.10-
Working Cap
Days
1,9011,3311,37393953662779475641633694
Cash Conv.
Cycle
43175-15-37-51-66-72-76-101-14

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 1.50%

Sales growth is growing at healthy rate in last 3 years 14.48%

Sales growth is good in last 4 quarters at 17.59%

Net Profit has been subdued in last 3 years -42.72%

Latest Financials - Fortis Healthcare Ltd.

Standalone Consolidated
TTM EPS (₹) 1.8 7.3
TTM Sales (₹ Cr.) 1,151 6,750
BVPS (₹.) 119.5 102.5
Reserves (₹ Cr.) 8,264 6,985
P/BV 3.60 4.20
PE 243.96 58.79
From the Market
52 Week Low / High (₹) 254.45 / 469.50
All Time Low / High (₹) 45.00 / 469.50
Market Cap (₹ Cr.) 32,493
Equity (₹ Cr.) 755
Face Value (₹) 10
Industry PE 87.4

Management X-Ray of Fortis Healthcare:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Fortis Healthcare

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales3696116126456596567026338631,053
Operating Expenses 449759737792697782634605747920
Manufacturing Costs91298309305313323248220305367
Material Costs108147147151136132147151204265
Employee Cost 136180182190161150155148154175
Other Costs 11413410014687177838783112
Operating Profit -80-149-126-147-38-1256828115133
Operating Profit Margin (%) -21.8%-24.3%-20.5%-22.7%-5.7%-19.1%9.7%4.4%13.4%12.6%
Other Income 230218185169138524938192134150
Interest 91816510664192160141130106
Depreciation 17272527292797111113116
Exceptional Items 03-18-4-680-12956-1648
Profit Before Tax 41-36-50-114-6018062124-9109
Tax 17-2-9-3935710720413
Profit After Tax 24-34-40-75-641235134-1396
PAT Margin (%) 6.5%-5.6%-6.6%-11.6%-9.7%18.7%73.1%0.7%-1.5%9.1%
Adjusted EPS (₹)0.5-0.7-0.9-1.4-1.21.66.80.1-0.21.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%78%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 3,7103,6803,7354,2524,1978,3378,8768,8828,8698,964
Share Capital 463463463518519755755755755755
Reserves 3,2473,2173,2723,7343,6797,5828,1218,1278,1148,209
Minority Interest0000000000
Debt1,2525971,0596254261,421705749639363
Long Term Debt1,252597638183232320621664586282
Short Term Debt004224421941,10184855481
Trade Payables5197114140146196212214277416
Others Liabilities 14778510277183155937905815817
Total Liabilities 5,1595,1595,0115,0944,95210,10810,73010,75010,60010,558

Fixed Assets

Gross Block2683011952342852791,0971,1521,174947
Accumulated Depreciation12211024498299191299404456
Net Fixed Assets146190172186203180906853770492
CWIP 12116918219916616533763
Investments 2,7952,4112,4283,6033,6588,3108,1538,8988,8458,848
Inventories5766761091413
Trade Receivables879510276718481747697
Cash Equivalents 2669689334411
Others Assets1,9782,2802,1111,0207581,3311,5429068871,105
Total Assets 5,1595,1595,0115,0944,95210,10810,73010,75010,60010,558

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -45-144-76122-15-611003276198
PBT 41-39-50-114-6018062124-9109
Adjustment -71-76-36-1544-288-5532512428
Changes in Working Capital 141-656111-19944-71196
Tax Paid -29-31-19402-52-11-10-49-34
Cash Flow From Investing Activity -522294394-72245-4,68881028238205
Capex -98-68-17-57-46-5-14-55-27-53
Net Investments -372405-1142210020383846
Others -52-43526-236290-4,68380446226212
Cash Flow From Financing Activity 484-17037045-2924,792-9726-320-395
Net Proceeds from Shares 52702894,01009200
Net Proceeds from Borrowing -2-870015517296-33-78-304
Interest Paid -156-78-73-101-64-188-164-105-129-106
Dividend Paid 0000000000
Others 115-5441139-392954-1,10452-11315
Net Cash Flow -83-203-5-6243-6266-68
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.69-0.92-1.08-1.87-1.511.965.960.05-0.151.08
ROCE (%)2.870.90.32-0.160.075.18.051.721.262.28
Asset Turnover Ratio0.080.120.120.130.130.090.070.060.080.1
PAT to CFO Conversion(x)-1.88N/AN/AN/AN/A-0.50.198N/A2.06
Working Capital Days
Receivable Days89555950414343453230
Inventory Days5443344555
Payable Days166183262309385473504517439476

Fortis Healthcare Ltd Stock News

Fortis Healthcare Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Fortis Healthcare on 12-Apr-2024 16:59 is ₹430.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of Fortis Healthcare stood at ₹32,493.4.
The latest P/E ratio of Fortis Healthcare as of 12-Apr-2024 16:59 is 244.0.
The latest P/B ratio of Fortis Healthcare as of 12-Apr-2024 16:59 is 3.60.
The 52-week high of Fortis Healthcare is ₹469.5 and the 52-week low is ₹254.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Fortis Healthcare is ₹1,151 ( Cr.) .

About Fortis Healthcare Ltd

Fortis Healthcare (FHL) incorporated in 1996 is engaged in running chain of hospitals. FHL started its hospital operations in 2001 through its flagship Mohali Hospital. Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

On November 13, 2018, IHH Healthcare Berhad, Malaysia acquired 31.10% stake in the Company and appointed majority of board of directors, thereby, becoming the controlling shareholder of the Company.

Business area of the company

The company is a leading integrated healthcare delivery service provider. The Company is primarily engaged in the business of healthcare services. The Company holds interests in its subsidiaries, associates and joint ventures which manages and operates a network of multi-specialty hospitals and diagnostics centres.

Awards & Accolades

2016-17

  • Fortis adjudged ‘Hospital of the Year in India’ and ‘Digital Savvy Hospital of the Year’ at the 2016 APAC Healthcare and Medical Tourism Awards
  • Fortis Hospital, BG Road, wins ‘Best Medical Tourism Hospital’ Award
  • Fortis Hospital, Mohali, wins coveted Asia Pacific Hand Hygiene Excellence Award
  • Fortis Escorts Hospital, Jaipur, wins Quality Council of India recognition for the fourth time in a row
  • Fortis C-DOC bags ‘Best Diabetic Care Centre in India’ award for the 3rd time in a row
  • Dr Bidhu K. Mohanti, Director and Head, Radiation Oncology, FMRI, receives Lifetime Achievement Award
  • Fortis creates history at the CII 17th National Awards for Excellence in Energy Management; four hospitals win top honours
  • Fortis Hospital, Ludhiana wins Best Multi-speciality Hospital and Best Quality in Service Delivery awards
  • Fortis Mulund wins two awards each at CIMS Healthcare Excellence and 3rd Asia Healthcare Excellence Awards
  • Dr Narottam Puri receives Lifetime Achievement Award at FICCI 8th Annual Healthcare Excellence Awards, 2016

2017-18

  • Team Nursing of Fortis Mulund won two prestigious honours at the 7th International Patient Safety Conference, held in Mumbai
  • Two Fortis luminaries, Dr Ashok Seth and Dr Ashok Rajgopal, received the prestigious Dr B. C. Roy National Award from the President of India.
  • The Pharmacy Team at Fortis Hospital, Mulund, has received the 'Pharmacie de Qualite' certification and has been honoured with Platinum rating
  • Fortis Healthcare won the prestigious 'Gurgaon Best Employer Brand Award 2017
  • Fortis Hospital, Mulund, won an award for its project, 'One Fortis: Training in Action' at the Asian Hospital Management Awards 2017.
  • Fortis Hospitals, Bengaluru, bagged three awards, ‘Best Patient Safety Initiative,’ ‘Best CSR Practices in Healthcare’ and ‘Best Use of Social Media and Digital Marketing’ at Times Television Network - National
    Marketing Excellence Awards - 2017
  • Fortis Escorts Hospital, Jaipur, won the National Quality Council of India (QCI) D. L. Shah Award for the fifth time in a row
  • Fortis Escorts Hospital, Faridabad, was recognised as the 'Best Heart Hospital' at the Double Helical State Health Awards 2017

2018-19

  • Fortis Hospital, Mulund, earned the JCI re-accreditation for the fifth time in a row
  • Fortis Healthcare won the ‘Business Process Management (BPM) Asia Master Award’ for the Enterprise level at the BPM Asia Star Championship 2018 organised by CII
  • Fortis Healthcare received the prestigious FICCI Healthcare Excellence Awards 2018 in the Social Initiative category for the 'Umeed Dhadkan' programme
  • Fortis Healthcare's MORETOGIVE ad film won a Bronze at the Indian Content Marketing Awards
  • Fortis Hospital, BG Road, Bengaluru, was ranked by the Medical Travel Quality Alliance (MTQUA) as one of the Top 10 World’s Best Hospitals for Medical Tourism for 2018
  • For the fifth consecutive year, Fortis C-DOC, New Delhi, was named the ‘Best Hospital in India Diabetic Care’ recognition at the Current Index of Medical Specialities Healthcare Excellence Awards 2018

2019-20

  • Economic Times Healthworld Hospital Awards’20
  • FICCI Medical Travel Value Awards 2019
  • Excellence in Cardiac Sciences
  • Joint Commission International (JCI) accreditation
  • National Award for Excellence in Energy Management, 2019
  • Best Hospital to Work For
  • International Patient Safety Congress
  • Most Trusted Diagnostic Centre of the Year

Milestones

  • 2008: Fortis Hospital, Noida Becomes first hospital In Uttar Pradesh to receive the coveted NABH Accredita
  • 2008: Fortis Escorts Becomes First Hospital in Faridabad to Launch Total Knee Replacement Unit
  • 2009: Announces taking over of the operational and management control of the 200-bed Apollo Modi Hospital in Kota (Rajasthan) for providing superior healthcare services in the region.
  • 2009: Launches dental centre at Malar Hospital, Chennai, with the aim of promoting dental tourism in the city. The Fortis Dental Centre has been floated on partnership basis with dental chain Axiss Dental
  • 2010: Completes acquisition of 23.9% stake in Parkway Holdings
  • 2010: Divests entire stake in Parkway to Khazanah
  • 2010: Adds cancer institute in its hospital portfolio
  • 2010: Inks pact with Republic Of Burundi
  • 2010: Inks MOU with RAK Hospital and Tanzania's RMC
  • 2010: Strengthens presence in Central India Network; touches 50 hospitals mark
  • 2010: Acquires O P Jindal Hospital in Raigarh, Chhattisgarh
  • 2010:  Unveils new hospital in Shalimar Bagh in Delhi
  • 2010: Adds Vivekanand Hospital to its network
  • 2011: Signs MoU with Utah University for specialized care in emergency medicine
  • 2011: Changes name of company from Fortis Healthcare Ltd to Fortis Healthcare (India) Ltd.
  • 2011: Adds 100 bed Lifeline Hospital at Alwar in Rajasthan,
  • 2011: Fortis Healthcare Ltd acquired Super Religare Laboratories (SRL), South-east Asia's largest diagnostics laboratory network to further strengthen presence across the healthcare value chain
  • 2012: Fortis Healthcare Ltd acquired Fortis Healthcare International Pte. Ltd.-Fortis Healthcare Ltd launched the first colorectal hospital in Singapore, becoming the first Indian hospital chain with a greenfield hospital abroad'
  • 2017: Fortis Healthcare and wayForward collaborate on a unique emotional wellness programme to combat workplace stress
  • 2018: Board of Fortis Healthcare approves the binding investment proposal from IHH Healthcare for an investment of Rs 4,000 crore at a per share price of Rs 170
  • 2019: Fortis join hands with Tips for #Music4MentalHealth Initiative
  • 2019: Fortis School Mental Health Programme initiates internship for students
  • 2020: Fortis rolls out e-Consultations for remote patient care in 23 hospitals across multiple locations in India
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