FORTIS
Fortis Healthcare Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
FORTIS
FY26 → FY29 · 3 years of guidance · ~2.7 years from today₹945 today
BEAR
₹648
-32%-13% a yr
8.7% a year · 36.6x exit
BASE
₹1,174
+24%+8% a yr
15% a year · 55.9x exit
BULL
₹1,599
+69%+22% a yr
20.4% a year · 66.4x exit
Where the market has priced it
22x68x today157x
- the guided figure reached earnings through a low-confidence bridge
- at 68x its FY26 earnings the stock already trades above the top of its own ten-year range (66x)
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹13.8 (screener) |
|---|---|
| Guided growth | 15% a year, said on the call of 29-May-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 36.57x / 55.92x / 66.42x, this company’s own p20 / median / p80 across 7 filed years |
| Filed-industry peers | median 54.32x across 10 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)3 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 15%
It is -- we expect the Jaipur to grow around 15% plus next financial year with EBITDA margin in the range of 13%, 14%.
Call 29-May-2026 · bridge confidence low · transcript PDF