Rekha Jhunjhunwala Stock Sets Record Date For Dividend, Up 150% In 3 Yrs

Fortis Healthcare is a large-cap healthcare company that recorded a market cap of Rs 23,766.08 Cr during Friday's closing session. One of India's top integrated healthcare service providers is Fortis Healthcare. With 27 medical facilities, 4,300 operating beds, and 400 diagnostic facilities, it is one of the largest healthcare organisations in the nation. For the purpose of final dividend for FY23, the company has finalized record date as July 20, 2023.

"This is with reference to our letter dated May 23, 2023 regarding approval of Annual Audited financial results for the quarter and year ended March 31, 2023 and recommendation of final dividend of Rs 1 /- per equity share by the Board of Directors of the Company in its meeting held on May 23, 2023, subject to approval of the members at the 27th Annual General Meeting of the Company scheduled to be held on August 1, 2023. Further, the aforesaid dividend on Equity Shares for the year ended March 31, 2023 as may be declared in the Annual General Meeting will be paid within 30 days of the date of AGM, subject to deduction of applicable tax at source, to those Shareholders or their mandates whose name appear (a) as Beneficial Owners as on July 20, 2023 (close of business hours) as per the list of Beneficial Owners to be furnished by Depositories in respect of the shares held in Electronic form and (b) as Members in Register of Members of the Company as on July 20, 2023 (close of business hours) in respect of the shares held in physical form," said Fortis Healthcare in a stock exchange filing on Friday.

The firm recorded a growth of 58.9% to Rs 138.3 crore for the quarter ending March 2023 compared to a net profit of Rs 87 crore in a similar period last year. The revenue from operations grew by 19.2 per cent to Rs 1,642.7 crore as compared to Rs 1,378.1 crore in the year-ago period. The earnings before interest, tax, depreciation and amortization (EBITDA) climbed 25 per cent to Rs 285 crore and EBITDA margins increased to 17.3 per cent in Q4FY23. The consolidated revenue for FY23 climbed by 10.1% YoY to Rs 6,298 crores from Rs 5,718 crores in FY22. From the reported Rs 790 crore in FY22 to Rs 633 crore in FY23, net profits dropped by 19.9%. The healthcare company's EBITDA for FY23 climbed by 6.1% to Rs 1,163 crores from Rs 1,096 crores in FY22.

On Friday, the shares of Fortis Healthcare closed on the BSE at Rs 314.80 apiece up by 3.20% from the previous close of Rs 305.05. The stock made a 52-week-high of Rs 324.80 on (19/09/2022) and a 52-week-low of Rs 228.65 on (29/06/2022). The stock price climbed from Rs 138.25 to the current market price over the past five years, resulting in a multibagger return of 134.75%. The stock price jumped from Rs 126.80 to the current market price during the past three years, resulting in a multibagger return of 157.61%. The stock has gone up 33% during the past year, and it has appreciated 11.90% YTD in 2023.

During Q4FY23, the company reported promoter shareholding of 31.17%, FIIs stake of 31.22%, DIIs stake of 20.69% and public stake of 16.92%. As per the shareholding pattern of Fortis Healthcare for January to March 2023 quarter, Rekha Jhunjhunwala wife of late ace investor Rakesh Jhunjhunwala held fully paid-up equity shares of 3,36,52,108 or 4.46% stake in the company.