Questions across 2 calls

Kritika Damani

Prospera Financial Solutions

Max Healthcare Institute Limited

Max Healthcare Institute Limited CC-Nov25.pdf · 2025-11-17

Thank you. Congratulations on a strong quarter. My first question is that you have an occupancy of over 75% and a consistent trend on the ARPOB becaus e of the strategic push in your high-acuity care like the new oncology-focused hospital. Since the case mix naturally increases the average length of stay, how are you balancing its trade-off to maintain patient throughput at your already busy hospitals?

Okay. My second question is that for the first half of your FY '26, can you quantify what percentage of your total hospital revenue came from the international patients? And what is the yield profile of this business? Like how does the ARPOB and the average length of stay for an international patient compared to that of the domestic patient portfolio?

Fortis Healthcare Limited

Fortis Healthcare Limited CC-Nov25.pdf · 2025-11-12

Congratulations on a strong quarter. I wanted to understand the bridge between top lin e and profitability, like revenue grew 5% sequentially and EBITDA was nearly 50%, which implies a sharp improvement in the operational leverage. Could you elaborate on what specifically drove this? Was it a better efficiency mix or the higher ARPOB or impr oved utilization or simply stronger cost discipline across facilities? And do you see this operating leverage sustaining as more capacities like Manesar and Jalandhar scale up?

Also, the EMR and the HOS rollouts have always been an important part of Fortis' modernization journey. So beyond the clinical documentation benefits, have the digital systems started showing measurable productivity improvements like reduction in patient turnaround time or better cost tracking? Also, how far have we from like having a unified digital backbone across the network?