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Ashutosh Raghuvanshi, CEO of Fortis Healthcare

CEO and Managing Director of Fortis Healthcare, Ashutosh Raghuvanshi

Dr. Ashutosh Raghuvanshi, CEO and Managing Director of Fortis Healthcare seems to be very pleased with the company’s consistent performance. He believes that the company’s growth drivers are on the right track. The company has always performed well and clarity on the open offer will come soon.

Tell us about the performance of the past quarter and the inside story of when the open offer will come.

The company has always performed well and it’s been a good turnaround story, which is the most interesting part. Talking about the open offer, this is a matter between IHH and the shareholders and Mr. Raghuvanshi said he was confident that the matter will be resolved as soon as possible both from a legal and regulatory standpoint.

The message we are getting in the public domain is that IHH is in talks with SEBI for clarification on the open offer, what is your understanding of it, what was the last formal communication with IHH?

As we concluded at the recent board meeting, IHH advised that they are actively pursuing with regulatory authorities and seeking to clarify the matter. As soon as things are clarified, we will all know at the same time.

Let’s talk about the performance of the past quarter, the margins have increased, the overall occupancy rate has also increased. What is the correct way to look at these numbers. Also, should we compare them on an annual basis given the Covid factor?

It wouldn’t be fair to compare it with last year, however, it should be clear that the covid numbers are almost negligible. So whatever number we see it’s a clear set of numbers with non-covid work and there’s been a rebound in both occupation and surgical work and that’s probably the trend. Another thing to keep in mind is that the second quarter is a good seasonal quarter and there are variations from quarter to quarter and the second quarter is usually slightly better. That said, the numbers also indicate that occupancy levels are trending towards pre-Covid levels, and we expect the numbers to increase to around 75% on the occupancy side, although that may be produce slowly, but it will eventually increase.

What will happen to the operational business if the open offer materializes, the open offer for the benefit of our viewers is at a much lower price than the existing price, will things change operationally?

Operationally, nothing will change, only the pace of growth will accelerate. There is some organic growth and brownfield expansion that is completely on track. Our debt position is very comfortable and we can therefore also achieve inorganic growth. Post the open offer, new fundraising opportunities will open up for us. The focus will be more on operations and growth.