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Fortis Malar Hospitals Ltd.

BSE: 523696 Sector: Health care
NSE: N.A. ISIN Code: INE842B01015
BSE 16:00 | 24 Sep 65.00 -0.15
(-0.23%)
OPEN

65.20

HIGH

67.45

LOW

64.35

NSE 05:30 | 01 Jan Fortis Malar Hospitals Ltd
OPEN 65.20
PREVIOUS CLOSE 65.15
VOLUME 2359
52-Week high 76.00
52-Week low 47.05
P/E
Mkt Cap.(Rs cr) 122
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 65.20
CLOSE 65.15
VOLUME 2359
52-Week high 76.00
52-Week low 47.05
P/E
Mkt Cap.(Rs cr) 122
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Fortis Malar Hospitals Ltd. (FORTISMALAR) - Chairman Speech

Company chairman speech

Dear Shareholders

I am honoured to present the results of your Company for the year ended March 31 2021.

At the very outset I would like to put on record the Board's sincere thanks andappreciation for all our doctors nurses and staff members who have been battling theCOVID-19 pandemic relentlessly. Their great personal sacrifices and resolute commitmenttowards patients in spite of the significant personal risk is both humbling and inspiring.

The financial year under review was very challenging for your Company. Several keyspecialists had decided to move on in FY2019-20. In addition the COVID-19 pandemic addedyet another level of complexity. Occupancy remained low during the first quarter becauseof the Government mandated lockdown. By the second quarter your Company commencedadmission of COVID-19 patients which hit a peak in October. By December 2020 theCOVID-19 admissions had started waning and reduced to negligible levels by February 2021.However with the second COVID-19 wave hitting the country an uptick in the number ofCOVID-19 admissions was observed in the last fortnight of March 2021. I am happy to sharethat your Company was able to treat more than 650 COVID-19 positive patients till March31 2021 with over 96% success rate.

In February 2021 your hospital started community vaccination services for the publicand by March 31 we had completed around 1350 vaccinations.

Throughout the lockdown period your hospital's consultants and other staff worked hardand continued to provide medical services to the public. Your hospital commencedtele-consults with OPD patients.

Given the precarious situation the leadership had to take some difficult decisions.Both clinical as well as non-clinical costs were reduced to make up for the lowerrevenues. All consultants and top ranking administrative staff took voluntary salary cutsduring the year at different points in time. To achieve further efficiencies in ourmanpower cost structure the total headcount was appropriately optimised which alsoresulted in substantial savings in our personnel costs during the year. Despite suchstringent cost controls your Company faced a stiff challenge in getting back toprofitability as the regular

I am happy to share that your Company was able to treat more than 650 COVID-19 positivepatients till March 31 2021 with over 96% success rate.

non-COVID occupancy came down to around 40% from the pre-COVID levels.

During the year your Company achieved Annual Revenue of ` 77.49 Crores as against `123.06 Crores in the previous financial year. Profit / (Loss) before tax was ` (-)11.31Crores as compared to ` (-)11.93 Crores in the previous financial year. Net profit /(loss) after tax was ` (-)7.87 Crores compared to `(-)8.89 Crores in the previousfinancial year. The average revenue per occupied bed (ARPOB) stood at ` 144 Lakhs in FY2020-21 as against ` 171 Lakhs in FY 2019-20. The average length of stay (ALOS) was 5.27days in FY 2020-21 compared to 4.02 days in FY 2019-20.

Your hospital has continued to uphold its commitment towards patients in spite of thesevere headwinds. We assure you that we will continue to do our best for all ourstakeholders in the year ahead. I thank you for your continued support and I am sure thatwe shall soon turn the tide emerging stronger more resilient and vibrant than everbefore.

With warm regards

Daljit Singh Chairman

Fortis Malar Hospitals Limited

.