CGHS payment uncertainty and policy changes
Management expressed caution on CGHS due to non-predictability of payments and potential circular changes, despite recent rate increases.
FORTIS / Q2-FY26 / risks
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Fortis Healthcare · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Integration risk from Gleneagles O&M agreement
The O&M arrangement for five hospitals may face operational challenges; future conversion to ownership is uncertain.
Debt increase from acquisitions
Net debt rose to INR 2,219 crore (0.96x EBITDA) from 0.16x a year ago due to acquisitions, though management is comfortable.
Delay in SMRI capacity addition
Commissioning of 225 beds at SMRI delayed by three months to March 2026, pushing revenue contribution to next fiscal.