Fortis Healthcare Limited

rs,

ement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian

Rs 25,344

in stage. this c. As explained in Note 4 and Note 5 of the Statement, a Civil Suit claiming Rs 25,344 lacs was filed by a Third Party against various entities including the Company and certain entities

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%. agreements dated September 30, 2017, FHsL assigned the outstanding ICDs to a third party. Such a

71%

subsidiary (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

28%

sition to repay loan to the erstwhile promoter group company takeover the loan, as EHIRCL (holding 28%) could not have taken over (alld not directly entire debt of xe FORTIS HEALTHCARE LIMITED

51%

18, the Company through its subsidiary (2. 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%

its subsidiary (i.e. Fortis Hospitals Limited (‘Birdie") from certain persons (‘FHsL")), acquired 100% stake in Birdie & Birdie Realtors Pvt, Lid. elated to the erstwhile promoters, wherein Rupees 12,2

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 laos 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 ata discount of 10%. There is no further finding in additional procedures/enquiries by independent experts on this mat

“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 to this significant dividend on account of the one-off transaction, it does not, and does not Test due 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 stil be different from that what has been estimated.”

“Based on the opinion obtained from the legal counsel, the management is confident that HHPL will be able to successfully defend the termination order.”

“However, due to uncertainties involved, the ultimate outcome will be ascertained on disposal of the said petition.”

“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 1e-ff transaction, it would meet the Principal Business Test due to this significant dividend on a cou 12.”

“The Group has considered internal and external information while finalizing various estimates in relation to these financial results, Going forward, the actual impact of the Covid-19 pandemic may still be different from that what has been estimated.”

Telephone

2

Matters in relation to Regulatory Authorities

2

Cash

2

Subsidiaries

1

Joint ventures

1

Associates

1

Tess

1

Less

1

Date

1

For further details please contact

1

Telephone

Fax +91 124719 1000 235 8613 +91 124 Limited Review Report on unaudited standalone financial results of Fortis Healthcare Limited for the three months ended 31 December 2021 and year- to-date standalone financial results for the period from 1 April 2021 to 31 December 2021 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors of Fortis Healthcare Limited 1 We have reviewed the accompanying Statement of unaudited standalone financial results of Fortis Healthcare Limited (the Company’) for the quarter ended 31 December 2021 and year-to-date results for the period from 1 April 2021 to 31 December 2021 (“the Statement’). This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting’ (“

Matters in relation to Regulatory Authorities

(a) In the above backdrop, during financial year 2017-18 the Company received a communication from the Securities and Exchange Board of India (SEBI), confirming that an investigation has been instituted by SEB! in the matter of the Company. In the aforesaid letter, SEBI required the Company under section 11C (3) of the SEB! Act, 1992 to furnish certain information and documents relating to the short-term investments of Rupees 473 Crores reported in the media. SEB! had appointed forensic auditors to conduct a forensic audit, of collating information from the Company and certain of its subsidiaries. The its subsidiaries furnished requisite information and documents requested by SEBI. Company / In furtherance of the above, subsequently on October 17, 2018 SEBI passed an ex-parfe Interim Order (‘Order”) whereby it observed that certain transactions were structured by some identified entities over a certain duration, and undertaken through the Company, which were prima facie fictitious and

Telephone

Fax +91 124719 1000 124 235 8613 +91 Limited Review Report on unaudited consolidated financial results of Fortis Healthcare Limited for the quarter ended 31 December and year-to-date results for the period from 1 April 2021 to 31 December 2021 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Fortis Healthcare Limited 1. 2. 3. We have reviewed the accompanying Statement of unaudited consolidated financial results of Fortis Healthcare Limited (‘the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group’) and its share of the net profit after tax and total comprehensive income of its associates and joint ventures for the quarter ended 31 December 2021 and year-to-date results for the period from 1 April 2021 to 31 December 2021 ("the Statement’), being submitted by the Parent pursuant to the requirements of Regulation 3

Subsidiaries

(i) Escorts Heart Institute and Research Centre Limited ("EHIRCL") (ii) Fortis Hospitals Limited (iii) Fortis Asia Healthcare Pte Limited (iv) Fortis Healthcare International Limited (v) Fortis Global Healthcare (Mauritius) Limited (vi) Fortis Malar Hospitals Limited (vii) Malar Stars Medicare Limited (viii) Fortis Health Staff Limited (ix) Fortis Cancer Care Limited (x) Fortis La Femme Limited (xi) Fortis Health Management (East) Limited (xii) Hiranandani Healthcare Private Limited (xiii) SRL Limited (xiv) SRL Diagnostics Private Limited BSR & Co (a partnership fm with Registration No 8A6 1223) converted ito BS R& Co LLP (a Lnnited Liability Partnership with LLP Registration No, AAB:8181) with effect from Octobor 14,2013 Rogistered Offco ‘Ath Floor, Central 8 Wing and North C Wing, Nesco IT Park 4, Nesco. Canter, Westom Express Highway, Goregaon (East), Mumbai 400063 BSR &Co. LLP (xv) SRL Reach Limited (xvi) SRL Diagnostics FZ- LLC (xvii) Fortis Healthcare International Pte Limited (F

Joint ventures

(i) Fortis Cauvery (ii) Fortis C- Doc Healthcare Limited (iii) SRL Diagnostics (Nepal) Private Limited (iv) DDRC SRL Diagnostics Private Limited (till 4 April 2021)

Associates

(i) Sunrise Medicare Private Limited (till 17 August 2021) (ii) Lanka Hospitals Corporate Plc (iii) THR Infrastructure Pte Ltd (iv) RHT Health Trust 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to the following Notes in the Statement: a. Note 5 and 6 of the Statement which deal with various matters including the ongoing investigation by Serious Fraud Investigation Office ("SFIO") and ongoing adjudication proceedings by Securities and Exch