X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
FORTIS HEALTHCARE 2017-18 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

FORTIS HEALTHCARE 2017-18 Annual Report Analysis
Thu, 20 Dec

FORTIS HEALTHCARE has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

FORTIS HEALTHCARE Income Statement Analysis

  • Operating income during the year fell 0.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 22.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 6.0% in FY18 as against 7.7% in FY17.
  • Depreciation charges increased by 7.6% and finance costs increased by 12.4% YoY, respectively.
  • Other income declined by 15.8% YoY.
  • Net profit for the year declined by 295.0% YoY.
  • Net profit margins during the year declined from 10.1% in FY17 to 19.9% in FY18.

FORTIS HEALTHCARE Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 45,737 45,608 -0.3%
Other income Rs m 1,660 1,397 -15.8%
Total Revenues Rs m 47,397 47,005 -0.8%
Gross profit Rs m 3,529 2,731 -22.6%
Depreciation Rs m 2,222 2,390 7.6%
Interest Rs m 2,294 2,578 12.4%
Profit before tax Rs m 673 -839 -224.7%
Tax Rs m 724 227 -68.7%
Profit after tax Rs m 4,793 -9,344 -295.0%
Gross profit margin % 7.7 6.0
Effective tax rate % 107.6 -27.0
Net profit margin % 10.1 -19.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FORTIS HEALTHCARE Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 21 billion as compared to Rs 19 billion in FY17, thereby witnessing an increase of 10.8%.
  • Long-term debt down at Rs 9 billion as compared to Rs 13 billion during FY17, a fall of 25.9%.
  • Current assets fell 28% and stood at Rs 13 billion, while fixed assets fell 8% and stood at Rs 52 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 86 billion as against Rs 97 billion during FY17, thereby witnessing a fall of 11%.

FORTIS HEALTHCARE Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 51,435 40,617 -21.0
 
Current Liabilities Rs m 19,265 21,348 10.8
Long-term Debt Rs m 12,787 9,481 -25.9
Total Liabilities Rs m 97,170 86,217 -11.3
 
Current assets Rs m 17,748 12,815 -27.8
Fixed Assets Rs m 56,872 52,181 -8.2
Total Assets Rs m 97,170 86,217 -11.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FORTIS HEALTHCARE Cash Flow Statement Analysis

  • FORTIS HEALTHCARE's cash flow from operating activities (CFO) during FY18 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -7 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -5 billion from the Rs 2 billion net cash flows seen during FY17.

FORTIS HEALTHCARE Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 9,665 5,536 -42.7%
Cash Flow from Investing Activities Rs m -10,016 -3,331 -
Cash Flow from Financing Activities Rs m 2,594 -7,331 -
Net Cash Flow Rs m 2,245 -5,126 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for FORTIS HEALTHCARE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -18.0, an decline from the EPS of Rs 9.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 137.1, stands at -5.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 1.9 times.
  • The company's price to cash flow (P/CF) ratio stood at -8.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 88.3 87.9
TTM Earnings per share Rs 9.3 -18.0
Diluted earnings per share Rs 10.4 -20.2
Price to Cash Flow x 33.0 -8.5
TTM P/E ratio x -6.5 -5.8
Price / Book Value ratio x 1.8 2.2
Market Cap Rs m 70,981 63,447
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for FORTIS HEALTHCARE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.6x during FY18, from 0.9x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 0.7x during FY18, from 1.3x during FY17. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at -23.0% during FY18, from 9.3% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at -13.1% during FY18, from 12.2% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at -7.8% during FY18, from 7.3% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 0.9 0.6
Debtors’ Days Days 38 38
Interest coverage x 1.3 0.7
Debt to equity ratio x 0.2 0.2
Return on assets % 7.3 -7.8
Return on equity % 9.3 -23.0
Return on capital employed % 12.2 -13.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how FORTIS HEALTHCARE has performed over the last 5 years, please visit here.

FORTIS HEALTHCARE Share Price Performance

Over the last one year, FORTIS HEALTHCARE share price has moved up from Rs 140.8 to Rs 137.1, registering a loss of Rs 3.7 or around 2.6%.

Overall, the S&P BSE SENSEX is up 7.5% over the year.

(To know more, check out historical annual results for FORTIS HEALTHCARE and quarterly results for FORTIS HEALTHCARE)

Equitymaster requests your view! Post a comment on "FORTIS HEALTHCARE 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

FORTIS HEALTHCARE Announces Quarterly Results (3QFY19); Net Profit Down 869.4% (Quarterly Result Update)

Feb 22, 2019 | Updated on Feb 22, 2019

For the quarter ended December 2018, FORTIS HEALTHCARE has posted a net profit of Rs 2 bn (down 869.4% YoY). Sales on the other hand came in at Rs 11 bn (down 1.6% YoY). Read on for a complete analysis of FORTIS HEALTHCARE's quarterly results.

FORTIS HEALTHCARE Announces Quarterly Results (2QFY19); Net Profit Down 1198.1% (Quarterly Result Update)

Nov 12, 2018 | Updated on Nov 12, 2018

For the quarter ended September 2018, FORTIS HEALTHCARE has posted a net profit of Rs 1 bn (down 1198.1% YoY). Sales on the other hand came in at Rs 11 bn (down 4.8% YoY). Read on for a complete analysis of FORTIS HEALTHCARE's quarterly results.

MSTC IPO: Should You Bet on This State-Run E-Commerce Player? (IPO)

Mar 13, 2019

Should you subscribe to the IPO of MSPC Limited?

Hindustan Aeronautics IPO: Yet Another Play on India's Defence Sector (IPO)

Mar 14, 2018

Should you apply for the IPO of state-run military aircraft maker Hindustan Aeronautics?

Bharat Dynamics IPO: Worth Betting on Defence Manufacturing? (IPO)

Mar 12, 2018

Should you apply for the IPO of Bharat Dynamics, India's first state-owned missile manufacturer?

More Views on News

Most Popular

My Top 7 Stocks to Profit from Sensex 100,000(The 5 Minute Wrapup)

May 16, 2019

Tanushree Banerjee explains everything you need to know about the Rebirth of India and Sensex 100,000.

3 Stocks to Bet on to Become a 'Dividend Millionaire'(Profit Hunter)

May 14, 2019

As markets continue to rattle amid earning season, upcoming elections, volatile crude price and US China trade war, it's a great idea to add some stability to your portfolio by adding dividend stocks.

Indian Steel: The Perfect Multibagger Opportunity(Profit Hunter)

May 17, 2019

A structurally strong Indian Steel Industry will help India achieve 8%+ GDP growth in the coming years.

My Top 7 Stocks to Buy as Modi Returns to Power(The 5 Minute Wrapup)

May 23, 2019

The Modi government is all set to come back to power. With a stable government at the centre, how should you play the stock market?

What Makes TVS Srichakra and CCL Products a Cut Above the Rest?(The 5 Minute Wrapup)

May 17, 2019

Despite the commodity nature of their businesses, these two stocks have rewarded shareholders well.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK FORTIS HEALTHCARE

  • Track your investment in FORTIS HEALTHCARE with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON FORTIS HEALTHCARE

FORTIS HEALTHCARE - INDRAPRASTHA MEDICAL COMPARISON

COMPARE FORTIS HEALTHCARE WITH

MARKET STATS