# Fortis Healthcare (FORTIS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/fortis

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹766.9
- Change: -6.45%
- As of: 2026-11-06
- 1D return: -6.45%
- 5D return: -0.16%
- 1M return: +0.51%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

FORTIS closed at ₹766.90 on 2026-11-06, reflecting a sharp -6.5% daily decline accompanied by an extreme intraday range (high ₹816.35, low ₹762.60). This move triggered a downward gap on the weekly chart and left the stock trading below its key short-term moving averages (20-day and 50-day EMAs), despite remaining above the 20-day SMA and the Supertrend indicator. The technical structure is conflicted: while the daily trend shows established strength (ADX 28.31) and bullish positioning relative to the Supertrend, the weekly and monthly horizons are firmly bearish with prices below all major averages and Supertrends. The stock sits in the lower-middle of its 50-day range (+26.1%) and near the bottom of its 252-day range (+17.6%), with a significant current drawdown of -30.1%. Immediate support lies at ₹764.76 and ₹763.63, while resistance begins at ₹775.97. A break below the immediate support cluster would likely confirm further downside pressure toward the next level at ₹667.20.

- Price Action: Closed at ₹766.90 (-6.5%) with an extreme intraday volatility event (z-score 4.76); weekly chart shows a confirmed downward gap.
- Trend Conflict: Daily indicators remain mixed (price above 20-SMA/Supertrend but below 20/50-EMAs), whereas weekly and monthly trends are uniformly bearish with price below all major averages.
- Key Levels: Immediate support at ₹764.76 and ₹763.63; first resistance at ₹775.97 (+1.18%). A breakdown below ₹763 could expose the ₹667.20 support.
- Risk Profile: High annualized volatility (+29.6%) and a substantial current drawdown of -30.1%; stock trades near the lower end of its yearly range.

- Harami
- Doji
- Bullish Engulfing Reversal
- Outside Bar
- Inside Bar

### News Context

Fortis Healthcare reported its Q2 FY27 results on November 5, 2026, revealing a divergence between top-line growth and bottom-line performance. Consolidated revenue grew 17.3% year-on-year to ₹2,735 crore, driven by operational expansion. However, consolidated net profit declined 3% to ₹312.4 crore, as lower exceptional gains offset the revenue increase.

The company simultaneously advanced strategic expansion initiatives, including the acquisition of Suguna Hospital in Bengaluru and a definitive agreement for a new super-specialty facility in New Delhi. Additionally, its diagnostics subsidiary, Agilus, expanded its network to 4,551 touch points. Market reaction was noted on November 6, with Fortis Healthcare included in live updates alongside other major earnings reporters such as LIC and Bharti Airtel.

- Q2 FY27 Net Profit: ₹312.4 crore (down 3% YoY), impacted by lower exceptional gains despite revenue growth.
- Revenue Growth: 17.3% YoY increase to ₹2,735 crore.
- Strategic Expansion: Acquisition of Suguna Hospital (Bengaluru) and definitive agreement for a new Delhi super-specialty facility announced.
- Diagnostics Network: Agilus expanded its reach to 4,551 touch points.

- [Q2 Results Live Updates: Hindalco, Voltas, Aster report today; Bharti Airtel, Britannia, LIC react](https://www.cnbctv18.com/market/q2-results-live-updates-titan-ongc-lic-britannia-hindalco-astral-jubilant-bharti-airtel-hexacom-sonata-bosch-fortis-voltas-share-price-liveblog-20028478.htm)
- [Fortis Healthcare Q2 profit falls 3% as lower exceptional gain offsets revenue growth](https://www.cnbctv18.com/market/earnings/fortis-healthcare-q2-profit-falls-3-as-lower-exceptional-gain-offsets-revenue-growth-20028257.htm)

### What Changed

Fortis Healthcare reported unaudited consolidated results for Q2 and H1 FY27 (ended September 30, 2026) on November 5, 2026. Consolidated revenue from operations grew 17.3% year-on-year to ₹2,734.8 crore, driven by operational expansion and the Agilus diagnostics network reaching 4,551 touch points. However, net profit attributable to owners declined 3% to ₹312.4 crore, as lower exceptional gains offset the top-line growth. The Board’s auditor issued an unmodified conclusion but highlighted ongoing regulatory scrutiny, including an SFIO investigation and a Delhi High Court order appointing a forensic auditor regarding transactions with RHT Health Trust. On the business front, Fortis acquired Suguna Hospital in Bengaluru for approximately ₹277 crore in October 2026 and signed a definitive agreement for a 29-year services arrangement at a planned 400+ bed hospital in New Delhi. Following these developments, the stock price observed on November 6, 2026, was ₹766.90, down from the previous close of ₹819.80.

- Q2 FY27 consolidated revenue rose 17.3% YoY to ₹2,734.8 crore, while net profit attributable to owners fell 3% to ₹312.4 crore due to reduced exceptional gains.
- Auditor’s report notes ongoing SFIO investigation and forensic audit appointment by the Delhi High Court concerning RHT Health Trust transactions; conclusion remains unmodified.
- Expansion includes the all-cash acquisition of Suguna Hospital (Bengaluru) for ~₹277 crore in October 2026 and a definitive agreement for a new super-specialty facility in New Delhi.
- Stock price declined to ₹766.90 on November 6, 2026, from ₹819.80 in the prior session.

- [Q2 Results Live Updates: Hindalco, Voltas, Aster report today; Bharti Airtel, Britannia, LIC react](https://www.cnbctv18.com/market/q2-results-live-updates-titan-ongc-lic-britannia-hindalco-astral-jubilant-bharti-airtel-hexacom-sonata-bosch-fortis-voltas-share-price-liveblog-20028478.htm)
- [Fortis Healthcare Q2 profit falls 3% as lower exceptional gain offsets revenue growth](https://www.cnbctv18.com/market/earnings/fortis-healthcare-q2-profit-falls-3-as-lower-exceptional-gain-offsets-revenue-growth-20028257.htm)
- [Fortis Healthcare Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/FORTIS_06112026124511_newspapersdvtsd.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133854470.xml)
- [Fortis Healthcare Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FORTIS_06112026134117_investormeet.pdf)
- [Fortis Healthcare Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FORTIS_05112026182405_final.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FORTIS_05112026185025_epfinal.pdf)

### Official Filings

Fortis Healthcare Limited reported unaudited financial results for the quarter and half-year ended September 30, 2026, on November 5, 2026. Consolidated revenue from operations rose 17.3% to ₹2,734.8 crore, while Profit After Tax (PAT) declined 2.5% to ₹320 crore, attributed to lower exceptional gains compared to the prior year period. The company maintains a net debt of ₹2,188 crore with a Net Debt to EBITDA ratio of 0.87x. Statutory auditor B S R & Co. LLP issued an unmodified conclusion but highlighted ongoing Serious Fraud Investigation Office (SFIO) investigations into alleged improper transactions dating back to pre-2018 periods and a forensic audit ordered by the Delhi High Court regarding transactions with RHT Health Trust. Operationally, Fortis completed the all-cash acquisition of Suguna Hospital in Bengaluru for approximately ₹277 crore and entered into definitive agreements for a 29-year healthcare services arrangement at a planned 400+ bed hospital in New Delhi.

- Q2 FY27 consolidated revenue increased 17.3% to ₹2,734.8 crore, whereas PAT decreased 2.5% to ₹320 crore due to reduced exceptional gains.
- Balance sheet metrics show net debt of ₹2,188 crore and a Net Debt to EBITDA ratio of 0.87x as of September 30, 2026.
- Auditor’s report notes ongoing SFIO investigations into pre-2018 transactions and a Supreme Court-approved forensic audit concerning RHT Health Trust dealings.
- Strategic developments include the ₹277 crore cash acquisition of Suguna Hospital (Bengaluru) and a 29-year service agreement for a new 400+ bed facility in New Delhi.

- [Fortis Healthcare Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/FORTIS_06112026124511_newspapersdvtsd.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133854470.xml)
- [Fortis Healthcare Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133810299.xml)
- [Fortis Healthcare Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FORTIS_06112026134117_investormeet.pdf)
- [Fortis Healthcare Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FORTIS_05112026182405_final.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FORTIS_05112026185025_epfinal.pdf)
- [Fortis Healthcare Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Fortis Healthcare announces Q2 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/FORTIS_05112026184619_finalpressrelease.pdf)
- [Fortis Healthcare Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/FORTIS_05112026190255_final.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1754104_05112026073944_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1754105_05112026073950_WEB.xml)

### Fundamentals

Fortis Healthcare demonstrates a robust expansion trajectory, with TTM sales reaching ₹9,506 crore and net profit growing to ₹1,070 crore. The company is executing a significant capital cycle, evidenced by Fixed Assets rising from ₹9,874 crore in Mar 2024 to ₹12,230 crore in Mar 2026. This investment is funded by increased borrowings, which climbed to ₹3,473 crore by Mar 2026, while long-term debt decreased sequentially in Q2 FY2026-27 (₹2,502 crore) against a rise in short-term borrowings (₹662 crore). Earnings quality remains strong, with CFO/EBITDA at 90% for Mar 2026, though cash conversion has moderated from 104% in Mar 2024. Return on Capital Employed improved to 13%, supporting the stock’s 3-year CAGR of 33%. Institutional ownership shifted as FIIs reduced stakes to 23.2% in Sep 2026, while DIIs increased to 34.45%.

- Revenue and Profit Growth: TTM sales reached ₹9,506 crore (+18% TTM growth), with Net Profit at ₹1,070 crore and EPS at ₹13.88.
- Capital Expansion: Fixed Assets grew to ₹12,230 crore (Mar 2026), supported by Borrowings rising to ₹3,473 crore; ROCE improved to 13%.
- Earnings Quality: Cash from Operating Activity stood at ₹1,601 crore (Mar 2026), with CFO/EBITDA at 90%, down from 104% in Mar 2024.
- Ownership Shift: FII holding decreased to 23.2% in Sep 2026, while DII holding rose to 34.45%; Promoter stake remained stable at 31.17%.

### Bear Case

Fortis Healthcare’s Q2 FY27 results reveal a divergence between top-line growth and bottom-line profitability, with consolidated net profit declining 3% year-on-year to ₹312.4 crore despite a robust 17.3% revenue increase to ₹2,735 crore. This compression was driven by lower exceptional gains, highlighting the company's sensitivity to one-off items in its earnings profile. From a market perspective, the stock faces significant technical headwinds; it is trading at ₹766.9, down 6.5% over the past day and -14.8% year-to-date as of November 6, 2026. The weekly trend is bearish, with the price currently below key moving averages, and the stock has experienced a maximum drawdown of -35.1% from recent peaks. While near-term support exists around ₹763–₹764, resistance is immediate at ₹775.97, suggesting limited upside momentum in the short term.

- Profitability pressure: Consolidated net profit fell 3% YoY to ₹312.4 crore in Q2 FY27, offsetting 17.3% revenue growth due to reduced exceptional gains.
- Technical deterioration: The stock is in a bearish weekly trend, trading at ₹766.9 (-6.5% daily change) with a current drawdown of -30.1% and a maximum historical drawdown of -35.1%.
- Near-term resistance: Immediate overhead resistance sits at ₹775.97 (1.18% above), while support is thin at ₹763.63–₹764.76, indicating constrained upward movement.
- Longer-term underperformance: The stock has declined -24.1% over the last year and -19.9% over six months, reflecting sustained investor caution.

- [Q2 Results Live Updates: Hindalco, Voltas, Aster report today; Bharti Airtel, Britannia, LIC react](https://www.cnbctv18.com/market/q2-results-live-updates-titan-ongc-lic-britannia-hindalco-astral-jubilant-bharti-airtel-hexacom-sonata-bosch-fortis-voltas-share-price-liveblog-20028478.htm)
- [Fortis Healthcare Q2 profit falls 3% as lower exceptional gain offsets revenue growth](https://www.cnbctv18.com/market/earnings/fortis-healthcare-q2-profit-falls-3-as-lower-exceptional-gain-offsets-revenue-growth-20028257.htm)
- [Fortis Healthcare Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/FORTIS_06112026124511_newspapersdvtsd.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133854470.xml)
- [Fortis Healthcare Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133810299.xml)
- [Fortis Healthcare Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FORTIS_06112026134117_investormeet.pdf)
- [Fortis Healthcare Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FORTIS_05112026182405_final.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FORTIS_05112026185025_epfinal.pdf)
- [Fortis Healthcare Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Fortis Healthcare announces Q2 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/FORTIS_05112026184619_finalpressrelease.pdf)
- [Fortis Healthcare Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/FORTIS_05112026190255_final.pdf)

### FAQs

**How did Fortis Healthcare perform financially in Q2 FY27?**

For the quarter ended September 30, 2026, Fortis reported a 17.3% year-on-year revenue growth to ₹2,735 crore. However, consolidated net profit declined by 3% to ₹312.4 crore, as lower exceptional gains offset the top-line expansion.

**What are the key strategic developments announced alongside the results?**

The company outlined expansion initiatives including the acquisition of Suguna Hospital in Bengaluru and a definitive agreement for a new super-specialty facility in New Delhi. Additionally, its diagnostics arm, Agilus, expanded its network to 4,551 touch points.

**What regulatory or legal matters are currently under review?**

Auditors noted an ongoing SFIO investigation into alleged improper transactions and a Delhi High Court order appointing a forensic auditor for transactions involving Fortis and RHT Health Trust. The Supreme Court allowed this audit to proceed on September 25, 2026, though the auditor’s conclusion remained unmodified.

**How has the stock price performed recently?**

As of November 6, 2026, the stock closed at ₹766.9, down from a previous close of ₹819.8. The stock is trading within a significant drawdown, with a current drawdown of -30.1% and a maximum drawdown of -35.1%. Year-to-date returns stand at -14.8%.

- [Q2 Results Live Updates: Hindalco, Voltas, Aster report today; Bharti Airtel, Britannia, LIC react](https://www.cnbctv18.com/market/q2-results-live-updates-titan-ongc-lic-britannia-hindalco-astral-jubilant-bharti-airtel-hexacom-sonata-bosch-fortis-voltas-share-price-liveblog-20028478.htm)
- [Fortis Healthcare Q2 profit falls 3% as lower exceptional gain offsets revenue growth](https://www.cnbctv18.com/market/earnings/fortis-healthcare-q2-profit-falls-3-as-lower-exceptional-gain-offsets-revenue-growth-20028257.htm)
- [Fortis Healthcare Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/FORTIS_06112026124511_newspapersdvtsd.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133854470.xml)
- [Fortis Healthcare Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133810299.xml)
- [Fortis Healthcare Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/FORTIS_06112026134117_investormeet.pdf)
- [Fortis Healthcare Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/FORTIS_05112026182405_final.pdf)
- [Fortis Healthcare Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/FORTIS_05112026185025_epfinal.pdf)
- [Fortis Healthcare Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Fortis Healthcare announces Q2 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/FORTIS_05112026184619_finalpressrelease.pdf)
- [Fortis Healthcare Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/FORTIS_05112026190255_final.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹810.22
- Risk regime: Higher Price Risk

### Support levels
- 764.7624999999999
- 667.2
- 642.35

### Resistance levels
- 784.9875
- 808.1375
- 861.3

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -6.45% |
| return_10 | +7.57% |
| return_1m | +0.38% |
| return_1y | -24.06% |
| return_20 | +0.51% |
| return_3m | -16.64% |
| return_5 | -0.16% |
| return_6m | -19.86% |
| return_since_start | +8.24% |
| return_ytd | -14.84% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -35.07% |
| annualized_volatility | +29.63% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Fortis Healthcare Limited Q2 FY2026-27: Revenue rises 17% year on year

Fortis Healthcare’s revenue from operations rose 17.3% year on year to ₹2,735 crore in Q2 FY2026-27, while profit before tax increased 1.1% to ₹426 crore. Sequentially, revenue grew 7.5% and profit before tax 18.8%, with expenses rising more slowly than revenue. Profit from continuing operations and EPS, however, remained below the year-earlier quarter.

## Revenue, costs and profit

Revenue from operations increased from ₹2,545 crore in Q1 FY2026-27 to ₹2,735 crore in Q2; it was ₹2,331 crore in Q2 FY2025-26. Revenue has risen in each quarter since Q3 FY2025-26, when it dipped to ₹2,265 crore.

Expenses rose 4.9% quarter on quarter to ₹2,318 crore, below the 7.5% growth in revenue. Profit before exceptional items and tax increased 21.2% sequentially to ₹423 crore. Profit before tax rose 18.8% to ₹426 crore from Q1 FY2026-27 and 1.1% from ₹422 crore in Q2 FY2025-26.

Q2 expenses included ₹601 crore of purchases of stock in trade, ₹409 crore of employee benefit expense and ₹128 crore of depreciation and amortisation. Finance costs declined 2.7% quarter on quarter to ₹78 crore from ₹80 crore, but were 4.6% higher than in Q2 FY2025-26.

## Exceptional items, tax and earnings

Exceptional items were a charge of ₹2.98 crore in Q2, compared with a charge of ₹9.53 crore in Q1 FY2026-27. Tax expense increased 23.7% sequentially to ₹112 crore, comprising current tax of ₹102 crore and deferred tax of ₹9.5 crore.

Profit from continuing operations rose 17.1% quarter on quarter to ₹314 crore, but declined 3.3% from ₹325 crore in Q2 FY2025-26. Total profit for the period was ₹320 crore, including ₹312 crore attributable to owners of the parent and ₹8.1 crore to non-controlling interests. EPS was ₹4.14, up from ₹3.53 in Q1 FY2026-27 and down from ₹4.26 a year earlier.

## Cash flow and liquidity

Operating cash flow was ₹752 crore in Q2. Investing activities used ₹478 crore and financing activities used ₹656 crore; reported free cash flow was ₹274 crore.

Cash and cash equivalents stood at ₹150 crore on 30 September 2026, down from ₹407 crore on 31 March 2026. Bank balances other than cash equivalents were ₹187 crore at quarter-end. Current financial liabilities increased to ₹2,107 crore from ₹1,484 crore at 31 March 2026.

## Balance sheet and asset base

Total assets were ₹16,415 crore at 30 September 2026, compared with ₹15,966 crore at 31 March 2026. Property, plant and equipment stood at ₹7,020 crore, up from ₹5,348 crore at March-end, while capital work in progress was ₹495 crore. Goodwill was ₹4,737 crore.

Trade receivables increased to ₹1,323 crore from ₹1,044 crore at 31 March 2026. Equity attributable to owners of the parent rose to ₹10,478 crore from ₹9,896 crore. Non-current borrowings were ₹2,502 crore, compared with ₹2,401 crore at March-end.

## Key Takeaway

Fortis recorded strong sequential growth in revenue and pre-tax profit, with expenses growing more slowly than revenue. Year-on-year earnings growth was weaker: profit before tax was nearly flat, while profit from continuing operations and EPS declined. Positive quarterly operating cash flow and free cash flow coincided with lower cash and higher current financial liabilities at 30 September 2026.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +31.17%
- FII holding: +23.20%
- DII holding: +34.45%
- Mutual fund holding: +26.94%
- Retail holding: +3.23%
- Promoter pledged: +0.00%

### Major reported shareholders

- NORTHERN TK VENTURE PTE. LTD. — +31.17% (Bodies Corporate)
- KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY MIDC — +5.93%
- HDFC LARGE AND MID CAP FUND — +5.62%
- REKHA JHUNJHUNWALA — +4.02%
- AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL F — +2.97%
- NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA ARB — +2.87%
- SBI LIFE INSURANCE CO. LTD — +1.80%
- DSP ARBITRAGE FUND — +1.63%
- AMANSA HOLDINGS PRIVATE LIMITED — +1.56%
- SBI MIDCAP FUND — +1.42%

## Official filings

- 2026-11-06 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_06112026124511_newspapersdvtsd.pdf)
- 2026-11-06 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133854470.xml)
- 2026-11-06 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261106_133810299.xml)
- 2026-11-06 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_06112026134117_investormeet.pdf)
- 2026-11-05 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_05112026182405_final.pdf)
- 2026-11-05 — Earnings Presentation: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_05112026185025_epfinal.pdf)
- 2026-11-05 — Press Release: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_05112026184619_finalpressrelease.pdf)
- 2026-11-05 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_05112026190255_final.pdf)
- 2026-11-05 — Financial Results Filing: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1754104_05112026073944_WEB.xml)
- 2026-11-05 — Financial Results Filing: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1754105_05112026073950_WEB.xml)
- 2026-10-31 — Management Change: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_31102026143202_finalfinal.pdf)
- 2026-10-31 — Management Change: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_31102026151917_final.pdf)
- 2026-10-31 — Management Change: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_ROID_102776_KMP_Doc.zip)
- 2026-10-31 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2587_WebXMLFile_20261031_161008677.xml)
- 2026-10-29 — Board Meeting Notice: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2587_WebXMLFile_20261029_162403501.xml)
- 2026-10-29 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2587_WebXMLFile_20261029_162403501.xml)
- 2026-10-29 — Board Meeting Notice: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_29102026163145_intimpr.pdf)
- 2026-10-29 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2587_WebXMLFile_20261029_163832658.xml)
- 2026-10-29 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_29102026164621_IntimationSchedule.pdf)
- 2026-10-29 — Generic Announcement: Fortis 01 2026 — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Fortis2026_29102026172509_SEBIReport_FORTIS_OCT_2026.pdf)
- 2026-10-28 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_28102026190505_Intimation.pdf)
- 2026-10-28 — Press Release: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_28102026191214_Intimation.pdf)
- 2026-10-28 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/FORTIS_28102026191516_Intimation.pdf)
- 2026-10-28 — Generic Announcement: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2587_WebXMLFile_20261028_193259187.xml)
- 2026-10-19 — Shareholding Disclosure: Fortis Healthcare Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1741156_19102026111944_WEB.xml)

## News and market events

- 2026-11-06 — CNBC-TV18: **Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak** — The Sensex and Nifty extended their winning streak to seven consecutive sessions, with the Nifty 50 closing at a nine-month high above 25,000. The rally was primarily driven by heavy buying in banking heavyweight stocks and strong quarterly earnings from Mahindra & Mahindra. Conversely, select midcap stocks underperformed due to disappointing growth or cautious outlooks, causing the Nifty Midcap Index to slip despite the broader market gains. — [Source](https://www.cnbctv18.com/market/sensex-nifty-rally-for-7th-straight-day-3-reasons-behind-d-streets-winning-streak-20028940.htm)
- 2026-11-06 — CNBC-TV18: **Q2 Results Live Updates: Hindalco, Voltas, Aster report today; Bharti Airtel, Britannia, LIC react** — The market is reacting to Q2 earnings from companies that reported after hours on Thursday, including LIC, Bharti Airtel, Titan, ONGC, and Fortis Healthcare. Today's trading session features results from Hindalco, Voltas, Jubilant Foodworks, and Honasa Consumer, alongside other broader market names. These updates are expected to influence investor sentiment as the final trading day of the week concludes. — [Source](https://www.cnbctv18.com/market/q2-results-live-updates-titan-ongc-lic-britannia-hindalco-astral-jubilant-bharti-airtel-hexacom-sonata-bosch-fortis-voltas-share-price-liveblog-20028478.htm)
- 2026-11-05 — CNBC-TV18: **Fortis Healthcare Q2 profit falls 3% as lower exceptional gain offsets revenue growth** — Fortis Healthcare reported a 3% year-on-year decline in consolidated net profit to ₹312.4 crore for Q2 FY27, as lower exceptional gains offset a 17.3% revenue growth to ₹2,735 crore. The company also announced expansion initiatives, including the acquisition of Suguna Hospital in Bengaluru and a definitive agreement for a new super-specialty facility in New Delhi, while its diagnostics arm Agilus expanded its network to 4,551 touch points. — [Source](https://www.cnbctv18.com/market/earnings/fortis-healthcare-q2-profit-falls-3-as-lower-exceptional-gain-offsets-revenue-growth-20028257.htm)
- 2026-10-29 — BUSINESSTODAY: **GIFT Nifty down 95 pts; Hero Moto, Dr Reddys, ACME Solar, Titagarh, Suzlon among top stocks in focus** — Indian equity markets are set for a cautious opening on Thursday as traders assess the global monetary policy and rising crude oil prices. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/gift-nifty-down-95-pts-hero-moto-dr-reddys-acme-solar-titagarh-suzlon-among-top-stocks-in-focus-564422-2026-10-29)
- 2026-10-29 — The Hindu: **Stocks to watch, October 29: TVS Motor, Fortis Healthcare, Dr Reddy’s, Bajaj Electricals, Titagarh, Zaggle, Awfis, HD Fire, KIMS, Shalby** — Buzzing stocks feature TVS Motor demerger, Fortis, Dr Reddy’s updates, leadership shifts at Bajaj Electricals, plus new orders, expansions, and regulatory news. — [Source](https://www.thehindubusinessline.com/markets/buzzing-stocks-tvs-motor-fortis-healthcare-dr-reddys-bajaj-electricals-titagarh-zaggle-awfis-hd-fire-kims-shalby/article71638820.ece)
- 2026-10-29 — FEEDS: **Stocks To Buy Today: Three Top Picks By Jay Thakkar of ICICI Securities** — Jay Thakkar has recommended three stocks to buy today. He suggests buying Fortis Healthcare, LTM and BSE stock futures. — [Source](https://www.ndtvprofit.com/markets/stocks-to-buy-today-three-top-picks-by-jay-thakkar-of-icici-securities-12251429)
- 2026-10-28 — CNBC-TV18: **Fortis Healthcare acquires Bengaluru’s Suguna Hospital for ₹277 crore** — The 110-bedded hospital in Rajajinagar reported revenue of around ₹50 crore in FY26 and has the potential to expand to 150 beds. — [Source](https://www.cnbctv18.com/business/companies/fortis-healthcare-acquires-bengalurus-suguna-hospital-for-rs277-crore-20021834.htm)
- 2026-10-28 — The Hindu: **Fortis Healthcare acquires Suguna Hospital in an all-cash ₹277-crore deal** — Fortis Healthcare Ltd completed the all-cash acquisition of Suguna Hospital in Bengaluru for ₹277 crore via a slump sale structured through its subsidiary International Hospital Ltd. The deal adds a 110-bed facility to Fortis's portfolio, bringing its total operational beds in the city to approximately 1,000. — [Source](https://www.thehindubusinessline.com/companies/fortis-healthcare-acquires-suguna-hospital-in-an-all-cash-277-crore-deal/article71637351.ece)
- 2026-10-21 — Mint: **Down 25% in 3 months, but market expert Sumeet Bagadia sees recovery, gains in Fortis - Check target price, stop-loss** — Choice Equity Broking recommends Fortis Healthcare for positional trading at ₹794, with a ₹892 target and ₹745 stop-loss. It sees potential support near ₹750 and a possible technical rebound, though a breakdown below that level would weaken the outlook. — [Source](https://www.livemint.com/market/stock-market-news/down-25-in-3-months-but-market-expert-sumeet-bagadia-sees-recovery-gains-in-fortis-check-target-price-stoploss-11792567504473.html)
- 2026-10-16 — Economic Times: **Supreme Court dismisses appeals by DCB Bank and UBS against Fortis audit** — The Supreme Court recently dismissed appeals by DCB Bank and UBS Management Services regarding a forensic audit. This audit pertains to transactions linked to Fortis Healthcare and its former promoters. The audit was initially ordered by the Delhi High Court on August 31. The court emphasized that the audit was not a broad investigation into bank affairs. The ruling is significant in the ongoing arbitration case with Daiichi Sankyo. — [Source](https://economictimes.indiatimes.com/news/india/supreme-court-dismisses-appeals-by-dcb-bank-and-ubs-against-fortis-audit/articleshow/135003071.cms)
- 2026-10-13 — NEWS.WEBINDIA123.COM: **Fortis Gurugrams HemeNext 2.0 unites global experts to advance Blood Cancer care in India** — Fortis Memorial Research Institute (FMRI), Gurugram recently held the HemeNext 2.0, a two-day international scientific conclave bringing together Indian and global experts to translate advances in blood science into more precise, accessible, and affordable care. — [Source](https://news.webindia123.com/news/Articles/Business/20261013/4510400.html)
- 2026-10-12 — MONEYCONTROL: **Why can't margin cap apply to all medicines, SC asks Centre; Apollo, other hospital stocks fall up to 6.5%** — hospital stocks, Apollo Hospitals, Fortis Healthcare — [Source](https://www.moneycontrol.com/news/business/markets/why-can-t-margin-cap-apply-to-all-medicines-sc-asks-centre-apollo-other-hospital-stocks-fall-up-to-6-5-14050215.html)
- 2026-10-12 — CNBC-TV18: **Explained - Why Apollo Hospitals, Fortis, Aster DM, Park Medi world sold off again on Monday** — The Supreme Court asked the government as to why can they not control the entire market of drugs and that they are only looking to strengthen the hands of the government. — [Source](https://www.cnbctv18.com/market/apollo-hospitals-fortis-aster-max-health-park-medi-share-price-why-they-fell-on-monday-supreme-court-drug-pricing-20009921.htm)
- 2026-10-12 — BUSINESSTODAY: **HDFC Life, Bank of Maharashtra, Fortis among top stocks to buy; check price targets** — Stocks to buy, Stock picks, Stocks to trade, trading views, Mayur Uniquoters, Bank of Maharashtra, HDFC Life Insurance Company, Fortis Healthcare, Mayur Uniquoters shares, Bank of Maharashtra shares, HDFC Life shares, Fortis Healthcare shares, Mayur Uniquoters share price, Bank of Maharashtra share price, HDFC Life share price, Fortis Healthcare share price, Mayur Uniquoters stock price, Bank of Maharashtra stock price, HDFC Life stock price, Fortis Healthcare stock price, Mayur Uniquoters target price, Bank of Maharashtra target price, HDFC Life target price, Fortis Healthcare target price — [Source](https://www.businesstoday.in/markets/stocks/story/hdfc-life-bank-of-maharashtra-fortis-among-top-stocks-to-buy-check-price-targets-560921-2026-10-12)
- 2026-10-01 — Economic Times: **Fortis, Apollo, other hospital stocks slump up to 10% in 2 days after SC questions steep markups. Buying opportunity?** — Hospital stocks extended losses for a second session after the Supreme Court questioned steep markups on cancer drugs and raised concerns over hospitals requiring patients to buy medicines from their own or designated pharmacies. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/fortis-apollo-other-hospital-stocks-slump-up-to-10-in-2-days-after-sc-questions-steep-markups-buying-opportunity/articleshow/134608717.cms)
- 2026-10-01 — BUSINESSTODAY: **Fortis, Max, Apollo, Medanta, Manipal: Buy hospital stocks for 22-46% upside, says Jefferies** — Hospital stocks, Hospital stocks news, Fortis Healthcare share price, Max share porice, Apollo Hospitals share rpice, Medanta share price, Manipal Health share price — [Source](https://www.businesstoday.in/markets/stocks/story/fortis-max-apollo-medanta-manipal-buy-hospital-stocks-for-22-46-upside-says-jefferies-558954-2026-10-01)
- 2026-10-01 — Economic Times: **Jefferies picks 6 hospitals as Buy after steep correction offers 'excellent' entry points. Check target price** — Jefferies has maintained a Buy rating on six hospital stocks, including Apollo Hospitals and Fortis Healthcare, following a sharp correction driven by regulatory concerns over drug and consumable price caps. The brokerage expects strong fundamentals and strategic price adjustments to help limit long-term EBITDA impact. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/jefferies-picks-6-hospitals-as-buy-after-steep-correction-offers-excellent-entry-points-check-target-price/articleshow/134607485.cms)
- 2026-10-01 — MONEYCONTROL: **Hospital stocks extend losses as drug-pricing regulation concerns linger; Apollo, Max among top Nifty losers** — hospital stocks today, healthcare stocks update, nifty healthcare update, apollo hospitals shares fall, max healthcare shares crash — [Source](https://www.moneycontrol.com/news/business/markets/hospital-stocks-extend-losses-as-drug-pricing-regulation-concerns-linger-apollo-max-among-top-nifty-losers-14042456.html)
- 2026-10-01 — Economic Times: **Sensex Today | Nifty 50 | Stock Market Live Updates: GIFT Nifty signals a negative start; Asian shares trade mixed - The Economic Times** — Sensex Today | Nifty 50 | Stock Market Live Updates: Benchmark indices pared gains from the day’s highs and ended near the day’s lows amid heightened volatility at the start of the new series. Persistent global uncertainty and an intraday spike in Brent crude oil prices kept investors cautious. — [Source](https://economictimes.indiatimes.com/markets/stocks/live-blog/bse-sensex-today-nifty50-stock-market-live-updates-gift-nifty-infosys-hdfc-bank-share-price-01-october-2026/liveblog/134606042.cms)
- 2026-10-01 — CNBC-TV18: **Hospital stocks sell-off a buying opportunity or a risk? Here is what analysts advice** — The Supreme Court, on Tuesday, September 29, flagged how drugs cost 2,700 to a retailer and are billed at 27,000 to patients in hospitals. The top court questioned where the 10x markup on prices was going. — [Source](https://www.cnbctv18.com/market/hospital-stocks-apollo-max-fortis-aster-share-price-fall-a-buying-chance-or-risk-supreme-court-price-cap-impact-20002607.htm)
- 2026-10-01 — Economic Times: **Hospital stocks slip after SC query on steep cancer drug markups** — In a landmark ruling, the Supreme Court of India highlighted troubling markups on cancer drugs enforced by hospitals, urging a probe into reports of patients being directed to specific pharmacies for their medications. Following this announcement, the BSE Hospitals Index faced a steep 5% drop, leading to notable losses for industry giants like Apollo Hospitals and Fortis Healthcare. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/hospital-stocks-slip-after-sc-query-on-steep-cancer-drug-markups/articleshow/134605708.cms)
- 2026-09-30 — Economic Times: **Hospital stocks fall up to 6%: Apollo, Fortis, KIMS tumble as SC questions drug mark-ups** — Hospital stocks came under pressure after the Supreme Court raised concerns over steep mark-ups on medicines sold through corporate hospitals. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/hospital-stocks-fall-up-to-6-apollo-fortis-kims-tumble-as-sc-questions-drug-mark-ups/articleshow/134589671.cms)
- 2026-09-30 — CNBC-TV18: **Explained - Why Hospital stocks Apollo, Max, Fortis, KIMS are down up to 6% on Wednesday** — A Public Interest Litigation was being heard by the Supreme Court on price fixation of drugs, mandates for generics. The government was also questioned by the Apex Court as to why there is no 16% mark up across all drugs and devices. — [Source](https://www.cnbctv18.com/market/why-hospital-stocks-apollo-max-fortis-global-share-price-are-falling-explained-drug-pricing-markup-supreme-court-observation-20001775.htm)
- 2026-09-30 — BUSINESSTODAY: **Yatharth, Apollo, KIMS, Fortis, Max Healthcare stocks fall: Why hospital stocks are declining today** — Yatharth Hospital, Apollo Hospitals, KIMS, Fortis Healthcare, Max Healthcare, hospital stocks, healthcare stocks, Supreme Court, cancer medicine markup, medicine pricing, corporate hospitals, hospital shares, healthcare sector, hospital stocks today — [Source](https://www.businesstoday.in/markets/stocks/story/yatharth-apollo-kims-fortis-max-healthcare-stocks-fall-why-hospital-stocks-are-declining-today-558704-2026-09-30)
- 2026-09-30 — MONEYCONTROL: **Apollo Hospitals, Yatharth, others fall up to 6% on SC's 'corporate hospitals don't spare anyone' remark** — Apollo Hospitals, Yatharth, Supreme Court, Max Healthcare — [Source](https://www.moneycontrol.com/news/business/markets/apollo-hospitals-yatharth-others-fall-up-to-6-on-sc-s-corporate-hospitals-don-t-spare-anyone-remark-14041699.html)

## Business profile

**Strategic vision:** Integrated healthcare delivery services provider in India.

### Business segments
- **Diagnostic Services:** Agilus Diagnostics provides diagnostic services as a significant part of Fortis's offering.
- **Hospital Operations:** Fortis operates a network of hospitals across India, offering a range of medical facilities and specialized care.

### Competitive strengths
- Network of hospitals and diagnostic services
- Integrated healthcare delivery model

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/fortis
Markdown representation: https://faxioms.com/stocks/fortis?render=md