Fortis Healthcare Limited

rs,

r. Indrajit Banerjee as Independent Directors of the Company, subject to approval of the shareholders, for the second term of upto 5 years. Further, the detailed disclosure as required under Regulatio

6.5 billion

ngement, tortious interference with contracts, etc. and Party has claimed damages in excess of USD 6.5 billion against all the defendants. Company has made disclosure about this case to stock exchange. It has

31.1%

Issue”), subject to approval of the shareholders and other regulatory approvals which constituted 31.1% share capital of the Company. The shareholders of the Company approved the Preferential Issue by r

0.77%

to which the terms of shareholding of the erstwhile Promoter Group in the Company was reduced to 0.77%. In agreements dated September 30, 2017, FHsL assigned the outstanding ICDs to a third party. Suc

71%

ubsidiary (i.e. Escorts Heart Institute and Research Centre Limited (“EHIRCL”)), purchased further 71% equity interest in Fortis Healthstaff Limited(“Healthstaff”) at an aggregate consideration of Rupe

29%

while promoter group company. EHIRCL also could not directly takeover the loan, as EHIRCL (holding 29%) could not have taken over the burden of the entire debt of Healthstaff. Therefore, this transacti

51%

18, the Company through its subsidiary (i.e. Fortis Hospitals Limited ("FHsL”)), purchased further 51% equity interest in Fortis Emergency Services Limited (FESL) at an aggregate consideration of Rupee

49%

erstwhile promoter group company. FHsL also could not directly takeover the loan, as FHsL (holding 49%) could not have taken over the burden of the entire debt of FESL. Therefore, this transaction was

100%

ubsidiary (i.e. Fortis Hospitals Limited Ltd. (“Birdie”) from certain persons (‘FHsL”)), acquired 100% stake in Birdie & Birdie Realtors Pvt; related to the erstwhile promoters, wherein Rupees 12,275 l

14%

he erstwhile promoters, wherein Rupees 12,275 lacs were paid towards ICDs at a rate of interest of 14% per annum and Rupees 7,725 lacs were paid for the shares acquired. The total enterprise value of B

10%

March 31, 2018, investments held in the Global Dynamic Opportunity Fund were sold at a discount of 10%. There is no further finding in additional procedures/enquiries by independent experts on this ma

473 Crore

1992 to furnish certain information and documents relating to the short-term investments of Rupees 473 Crores reported in the media. SEBI had appointed forensic auditors to conduct a forensic audit, of colla

“In the aforesaid context, proper and sufficient care has also been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities on a going forward basis.”

“However, the significant amount of dividend in the year ended March 31, 2020 was largely on account of a one-off transaction which led to dividend payment and the Company does not expect dividend of such a significant amount to be recurring in future.”

“The Board has also noted and confirmed that such dividend does not represent income from ordinary activities of the Company and that the Company does not intend to carry on the business as an NBFC.”

“The Company has made a representation to the RBI in November 2019 that while the Company technically would meet the Principal Business Test due to this significant dividend on account of the one-off transaction, it does not, and does not intend to, carry on the business as an NBFC and hence keeping in view the objective behind the test, its registration as a NBFC should not be required.”

“In line with guidance on accounting for such concessions that are a direct consequence of the COVID-19 pandemic, the Company has recognised an exceptional gain of Rupees 6,340 lacs for the year ended March 31, 2021.”

“Going forward, the actual impact of the Covid-19 pandemic may still be different from that what has been estimated.”

“Based on the external legal counsel advice, the Company believes that EHIRCL will be able to suitably defend the termination of lease deeds and allotment letters and accordingly considers that no adjustments are required to the audited Consolidated Financial Results.”

“However, the significant amount of dividend in the year ended March 31, 2020 was largely on account of a one-off transaction which led to dividend payment and the Company does not expect dividend of such a significant amount to be recurring in future.”

“Going forward, the actual impact of the Covid-19 pandemic may still be different from that what has been estimated.”

“By attending or assessing this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.”

Fax

2

Adjustments for

2

Cash

2

Registered Olfice

1

Parent

1

Subsidiaries

1

Registered Office

1

Joint ventures

1

Associates

1

Basie earings par share - In Rupees

1

Fax

dependent AUCIors Report To the Board of Directors of Fortis Healthcare Limited Report on the audit of the Standalone Annual Financial Results oF ST We have audited the accompanying standalone annual financial results of Fortis Healthcare Limited (hereinafter referred to as the “Company”) for the year ended 31 March 2022, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results: a. b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other account

Registered Olfice

BSR&Co. LLP Independent Auditor’s Report (Continued) Fortis Healthcare Limited As explained in the said note, the Group had recorded significant adjustments/ provisions in its books of account during the year ended 31 March 2018. The Company has launched legal proceedings and has also filed a complaint with the Economic Offences Wing (‘EOW’) against erstwhile promoters and their related entities based on the findings of the investigation conducted by the Group. Further, based on management'’s detailed analysis and consultation with external legal counsel, a further provision has been made and recognised in the previous year for any contingency that may arise from the aforesaid issues. As per the management, any further financial impact, to the extent it can be reliably estimated as at present, is not expected to be material. 2. Note 8 of the standalone annual financial results relating to the order dated 15 November 2019 of the Hon’ble is stated that the Hon’ble Supreme Court has issue

Adjustments for

Exceptional Loss/(Gain) (net) Finance cost Interest income Loss/(Profit) on disposal of property, plant and equipment (net) Allowance for bad and doubtful trade receivables Allowance for bad and doubtful advances Provision for contingencies Depreciation and amortisation expense Provision / liability no longer required written back Financial guarantee income Sub Total aed profit before changes in following assets and Changes in operating assets and liabilities (Increase) / Decrease in trade and other receivables (Increase) / Decrease in inventories (Increase) in loans, other assets and other financial assets fi Increase / (Decrease) in other other Sone and Tae bee Cash generated from operations Income taxes paid (net) Net cash generated from operating activities (A) liabiliti isi ine ial Cash flows from investing activities Interest received Amount received against investments Investment in subsidiaries Purchase of property, plant and equipment and intangible asset Proceeds from sale of

Fax

Independent Auditors Report To the Board of Directors of Fortis Healthcare Limited Report on the audit of the Consolidated Annual Financial Results We have audited the accompanying consolidated annual financial results of Fortis Healthcare Limited (hereinafter referred to as the “Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”), its associates and its joint ventures for the year ended 31 March 2022, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements of the subsidiary and joint venture, the aforesaid consolidated annual financial

Subsidiaries

1. 2. 3. 4. 5. 6. 7. 8. 9. Escorts Heart Institute and Research Centre Limited (“EHIRCL”) Fortis Hospitals Limited Fortis Asia Healthcare Pte Limited Fortis Healthcare International Limited Fortis Global Healthcare (Mauritius) Limited Fortis Malar Hospitals Limited Malar Stars Medicare Limited Fortis HealthStaff Limited Fortis Cancer Care Limited 10. Fortis La Femme Limited 11. Fortis Health Management (East) Limited 12. Hiranandani Healthcare Private Limited 13. SRL Limited 14. SRL Diagnostics Private Limited 15. SRL Reach Limited BS R&Co. (a patiratship firm with Registration Na, BA61223) coliverted into BS R & Co. LLP {a Limited Liability Partnership with LLP Registration No. AAB-3181) with effect tram, October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

Registered Office

V2 Independent Auditor’s Report (Continued) Fortis Healthcare Limited BSR&Co. LLP 16. 17. 18. 19. 20. 21. SRL Diagnostics FZ-LLC Fortis Healthcare International Pte Limited (FHIPL) Birdie and Birdie Realtors Private Limited Stellant Capital Advisory Services Private Limited RHT Health Trust Manager Pte Limited Fortis Emergency Services Limited 22. Fortis Hospotel Limited 23. 24. 25. 26. Escort Heart and Super Speciality Hospital Limited International Hospital Limited Hospitalia Eastern Private Limited Fortis Health Management Limited 27. Medical Management Company Limited 28. 29. Mena Healthcare Investment Company Limited DDRC SRL Diagnostics Private Limited (with effect from 5 April 2021)