New Delhi: Fortis Healthcare reported a robust financial performance for the fourth quarter and full financial year ended March 31, 2026, aided by sustained growth in its core hospital business, rising patient volumes across key specialties, and strategic network expansion through acquisitions and brownfield projects.
The healthcare provider posted consolidated revenues of ₹2,365 crore in Q4 FY26, registering a growth of 17.8 per cent compared to ₹2,007 crore in the corresponding quarter last year. Operating EBITDA rose 22.2 per cent to ₹531 crore, while margins improved to 22.5 per cent from 21.7 per cent a year ago.
Profit after tax for the quarter surged 44.2 per cent to ₹271 crore against ₹188 crore reported in Q4 FY25.
For the full financial year FY26, the company’s consolidated revenues grew 17.3 per cent to ₹9,128 crore compared to ₹7,783 crore in FY25. Operating EBITDA increased 31.3 per cent to ₹2,085 crore, with margins expanding to 22.8 per cent from 20.4 per cent in the previous fiscal.
Annual profit after tax stood at ₹1,064 crore, up 31.5 per cent year-on-year.
The board of directors also recommended a dividend of ₹1 per equity share, equivalent to 10 per cent of the face value.
The hospital business continued to remain the primary growth driver, contributing nearly 85 per cent to overall revenues. Hospital revenues rose 19 per cent year-on-year in Q4 FY26 to ₹2,023 crore, while annual hospital revenues climbed 19.1 per cent to ₹7,773 crore.
Operationally, the company witnessed a 15 per cent increase in occupied beds during FY26 and a 17 per cent rise during the fourth quarter compared to the same periods last year. Average Revenue Per Occupied Bed (ARPOB) improved to ₹2.56 crore annually in Q4 FY26 from ₹2.51 crore in Q4 FY25.
Among specialties, the top six segments cardiac sciences, orthopedics, neurology, gastroenterology, oncology, and renal sciences grew 18.9 per cent over FY25 and contributed nearly 62 per cent to total revenues. Renal sciences and orthopedics emerged as key growth areas, recording 22 per cent and 21 per cent growth respectively.
The company also reported a sharp rise in high-end medical procedures, with radiation therapy volumes increasing 19 per cent and robotic surgeries growing 66 per cent year-on-year during FY26.
International patient revenues rose 18.5 per cent to ₹639 crore during the year, contributing 7.8 per cent to the overall hospital business revenues.
To strengthen clinical infrastructure, the company added several high-value medical equipment during the year, including five soft tissue surgical robots, two MRI machines, four cath labs, and one PET-CT system.
Commenting on the performance, Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare, said, “We have witnessed a steady business performance in Q4 enabling us to end the year on a healthy note. Our hospital business which now contributes 85 per cent to our overall revenues continues to do well.”
He added that the company maintained its investment momentum in medical equipment, technology, and clinical programs while simultaneously pursuing network expansion.
“As part of our inorganic growth strategy, we added nearly 500 beds to our network through the acquisition of People Tree Hospital in Bengaluru, Shrimann Hospital in Jalandhar and through a long-term lease arrangement for the Greater Noida Hospital in Delhi NCR,” Raghuvanshi said.
The diagnostics business under Agilus Diagnostics also delivered steady growth. Gross revenues for the diagnostics arm increased 11.1 per cent year-on-year to ₹387 crore in Q4 FY26, while annual revenues rose 8.5 per cent to ₹1,527 crore.
Operating EBITDA for the diagnostics segment grew 35.9 per cent during the quarter and 44.7 per cent for the full year. EBITDA margins expanded significantly to 22 per cent in Q4 FY26 and 23.6 per cent for FY26.
Agilus conducted nearly 40.8 million tests during FY26 compared to 39.2 million tests in FY25. The company also expanded its network to 4,445 customer touch points as of March 31, 2026.
Preventive healthcare continued to gain traction, with revenues from preventive testing growing 21 per cent during the year and increasing their contribution to overall diagnostics revenues from 11 per cent to 13 per cent.
Fortis’ net debt as of March 31, 2026 stood at ₹2,334 crore, with net debt-to-EBITDA at 1.09x compared to 0.93x a year ago. The company attributed the increase in debt primarily to acquisitions and expansion investments undertaken during the year.
Alongside business growth, the healthcare chain highlighted progress on environmental, social and governance (ESG) initiatives, including energy optimisation, carbon emission reduction, water conservation, and reduced plastic waste generation.
