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Fortis Malar Hospitals Ltd.

BSE: 523696 Sector: Health care
NSE: N.A. ISIN Code: INE842B01015
BSE 00:00 | 30 Sep 50.05 -0.20
(-0.40%)
OPEN

50.30

HIGH

50.90

LOW

48.50

NSE 05:30 | 01 Jan Fortis Malar Hospitals Ltd
OPEN 50.30
PREVIOUS CLOSE 50.25
VOLUME 1301
52-Week high 60.00
52-Week low 34.50
P/E
Mkt Cap.(Rs cr) 94
Buy Price 48.50
Buy Qty 50.00
Sell Price 50.05
Sell Qty 1.00
OPEN 50.30
CLOSE 50.25
VOLUME 1301
52-Week high 60.00
52-Week low 34.50
P/E
Mkt Cap.(Rs cr) 94
Buy Price 48.50
Buy Qty 50.00
Sell Price 50.05
Sell Qty 1.00

Fortis Malar Hospitals Ltd. (FORTISMALAR) - Chairman Speech

Company chairman speech

DEAR SHAREHOLDERS

It gives me great pleasure to present the results of your Company forthe year ended March 312020.

Founded in 1989 Fortis Malar Hospitals (earlier known as MalarHospitals) became a part of the Fortis family in early 2008. Fortis Malar Chennai istoday recognised as a world-class institution in the healthcare space thanks to thepainstaking efforts of a wonderful team comprising of dedicated doctors nursesparamedics support staff and hospital administrators. Every day these highly committedpeople give their best ensuring excellent clinical outcomes and delivering compassionatepatient care. At the very outset I thank all staff members of Fortis Malar for theircontribution towards building this remarkable institution.

During the year under consideration Fortis Malar rolled out acomprehensive Seniors First programme targeted at the city's growing population ofelders. The programme was well received and led to a 45% growth in business from seniorcitizens. A special 'Delivery' package was also introduced for would-be mothers which ledto a 6% growth in the number of deliveries and 9% growth in value terms. Other highlightsduring the year were the addition of many senior consultants in major specialities suchas Orthopaedics Neuro Sciences Cardiology and Cardio Thoracic & Vascular Surgery(CTVS). The new consultants have already performed some outstanding cases which have beenfeatured in the local media.

Our team of doctors garnered several clinical successes during theyear. A team led by Dr Nandkumar Sundaram Senior Consultant Orthopaedic Surgeonperformed Chennai's first All Autologous Cartilage Transplant (AACT) on a 72-year-oldwoman with articular cartilage defect of the knee and the minimally invasive ProximalFemoral Nail (PFN) procedure on 93-year-old who walked on the same day merely six hoursafter the procedure. A team of senior CTVS consultants led by Dr Madhu Sankar and Dr AntoSahayaraj performed a technically challenging minimally invasive cardiac surgicalprocedure on a 35-year-old woman under Tamil Nadu Chief Minister's Comprehensive HealthInsurance Scheme. This is extremely creditable and reflective of the high-endmulti-speciality expertise available at the hospital. Other specialities at your hospitalsuch as Neurology Obstetrics & Gynaecology Orthopaedics and Gastroenterology toname a few also delivered very encouraging results.

The year under consideration was an extremely challenging one for yourCompany. The business was adversely impacted by non-availability of organs forinternational patients since Q3 of the previous year. This trend continued in the firsttwo quarters of this financial year. Additionally your hospital also witnessed the exitof a few senior clinicians. This coupled with the discontinuation of heart and lungtransplants programme from November 2019 has severely impacted both top-line as well asbottom line of the Company.

During the year your Company achieved Consolidated Annual Revenue ofRs. 123.06 Crores as against Rs. 154.70 Crores in the previous corresponding financialyear. Profit / (Loss) before tax was Rs. (11.93) Crores compared to Rs. 2.79 Crores in theprevious financial year. Profit / (Loss) for the year was Rs. (8.89) Crores compared toRs. 2.06 Crores in the previous financial year. The average revenue per occupied bed(ARPOB) stood at Rs. 171 Lakhs in FY 2020 as against Rs. 169 Lakhs in FY 2019. The averagelength of stay (ALOS) was 4.02 days in FY 2020 compared to 4.25 days in FY 2019. In thelast two weeks of the year the hospital saw a significant drop in patient footfalls andoccupancy owing to the lockdown declared by the Government owing to the COVID-19pandemic.

Your hospital put up a brave performance in spite of very challengingcircumstances. Nevertheless our unflinching commitment towards all our patients and thesociety at large remains as strong as ever. As a responsible corporate citizen FortisMalar contributed to the society by undertaking several corporate social responsibilityactivities. These included cleanliness and hygiene maintenance activities offering BasicLife Support training to citizens and conducting health camps. With the spread of COVID-19pandemic towards the end of the Financial Year your hospital made a CSR fund contributionto the 'Prime Minister's National Relief Fund' (PMNRF Fund) towards supporting theGovernment's efforts to mitigate the spread and impact of the infection.

Before I conclude I would like to thank all our shareholders and otherstakeholders for their continued support through the year. I am sure that with yourguidance we will continue to serve our patients with renewed vigour and zeal in the yearsto come.

With Best Wishes and Warm Regards

Daljit Singh

Chairman

Fortis Malar Hospitals Limited

29th ANNUAL REPORT 2019-20