Healthcare company Fortis Healthcare Ltd (NSE: FORTIS) informed on the last trading day, that the company’s subsidiary Fortis Hospitals Ltd has received an income tax demand notice of Rs 89.53 crore.
This also includes interest of Rs 9.54 crore.
“You are informed that the company’s subsidiary Fortis Hospitals Limited has today received an Income Tax Assessment Order dated March 21, 2024, demanding a sum of ₹89.53 crore (including interest of ₹9.54 crore),” the stock exchange filing said.
The Company Will Respond
The company said that it is evaluating this order and will take appropriate action at the right time.
Fortis Healthcare reported a 3.9 percent year-on-year rise in profit at Rs 135 crore for the third quarter ended December 31, 2023.
In the same quarter last year, Fortis Healthcare made a profit of Rs 129.6 crore.
Revenue of the hospital business increased by 9.6 percent compared to the previous quarter, due to which ARPOB (average revenue per operating bed) increased by 10.6 percent to Rs 2.23 crore.
ARPOB increased by 10.6 percent to Rs 2.23 crore in Q3FY2024 from Rs 2.02 crore in Q3FY2023.
The company’s shares on the last trading day, closed at Rs. 404.05 on the NSE with a rise of 0.62 percent.
About Fortis Healthcare Ltd
Fortis Healthcare Limited, a provider of integrated healthcare services in India, is based on the concept of integrated healthcare delivery.
The primary business of the Company is healthcare services. The company is engaged primarily in the Healthcare Services segment.
The Company’s specialties include cardiology, dermatology, and dental sciences.
It operates and manages a network of multi-specialty hospitals and diagnostics centers.
The Company’s healthcare verticals are primarily hospitals, diagnostics, and daycare specialty facilities.
The company has about 27 healthcare facilities including projects in development, over 400 diagnostic centers, and 4500 beds.
The company has operations in India, Sri Lanka, and the United Arab Emirates. Escorts Health Staff Limited, Fortis Asia Healthcare Pte. Ltd., and others.
Fundamental Analysis of Fortis Healthcare Ltd
| Market Cap | ₹ 30,584 Cr. |
| Current Price | ₹ 405 |
| 52-wk High | ₹ 470 |
| 52-wk Low | ₹245 |
| Stock P/E | 57.1 |
| Book Value | ₹ 101 |
| Dividend | 0.25 % |
| ROCE | 9.83 % |
| ROE | 7.77 % |
| Face Value | ₹ 10.0 |
| P/B Value | 4.01 |
| OPM | 17.1 % |
| EPS | ₹ 7.32 |
| Debt | ₹ 1,033 Cr. |
| Debt to Equity | 0.14 |
Fortis Healthcare Ltd Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹400 | ₹434 |
| 2025 | ₹450 | ₹514 |
| 2026 | ₹525 | ₹600 |
| 2027 | ₹622 | ₹700 |
| 2028 | ₹712 | ₹784 |
| 2029 | ₹800 | ₹1000 |
| 2030 | ₹1124 | ₹1324 |
Fortis Healthcare Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 31.17% |
| Mar 2023 | 31.17% |
| June 2023 | 31.17% |
| Sept 2023 | 31.17% |
| Dec 2023 | 31.17% |
| FII Holding | |
| Dec 2022 | 31.01% |
| Mar 2023 | 31.22% |
| June 2023 | 30.03% |
| Sept 2023 | 26.31% |
| Dec 2023 | 23.72% |
| DII Holding | |
| Dec 2022 | 20.38% |
| Mar 2023 | 20.69% |
| June 2023 | 22.17% |
| Sept 2023 | 26.55% |
| Dec 2023 | 29.42% |
| Public Holding | |
| Dec 2022 | 17.44% |
| Mar 2023 | 16.92% |
| June 2023 | 16.65% |
| Sept 2023 | 15.97% |
| Dec 2023 | 15.71% |
Fortis Healthcare Ltd Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹4,469 Cr |
| 2020 | ₹4,632 Cr |
| 2021 | ₹4,030 Cr |
| 2022 | ₹5,718 Cr |
| 2023 | ₹6,750 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹-224 Cr |
| 2020 | ₹91 Cr |
| 2021 | ₹-56 Cr |
| 2022 | ₹790 Cr |
| 2023 | ₹580 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 0.28 |
| 2020 | 0.2 |
| 2021 | 0.19 |
| 2022 | 0.16 |
| 2023 | 0.1 |
Last 10 Years’ Profit Growth:
| 10 Years: | 16% |
| 5 Years: | 41% |
| 3 Years: | 107% |
| Current Year: | 12% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | 1% |
| 5 Years: | 2% |
| 3 Years: | 4% |
| Last Year: | 8% |
Sales Growth Over 10 Years:
| 10 Years: | 8% |
| 5 Years: | 7% |
| 3 Years: | 11% |
| Current Year: | 12% |
Conclusion
This article is a complete guide about Fortis Healthcare Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
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