Max Healthcare Institute Ltd

Max Healthcare Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Max Healthcare Institute Ltd

₹ 1,095 0.39%
19 Jun - close price
maxhealthcare.in BSE: 543220 NSE: MAXHEALTH
About

Max Healthcare Institute Limited is primarily engaged in the providing healthcare services through primary care clinics, multi-speciality hospitals / medical centres and super-speciality hospitals providing operation and management, medical services, clinical, radiology, pathology services and related healthcare services. [1]

Key Points

Leadership[1]
The company is India’s largest hospital chain in terms of market cap and 2nd largest hospital in terms of revenue and EBITDA.

Website BSE NSE
  • Market Cap ₹ 1,06,546 Cr.
  • Current Price ₹ 1,095
  • High / Low ₹ 1,314 / 903
  • Stock P/E 146
  • Book Value ₹ 91.9
  • Dividend Yield 0.14 %
  • ROCE 10.5 %
  • ROE 8.46 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 23.1%

Cons

  • Stock is trading at 11.9 times its book value
  • Company has a low return on equity of 9.06% over last 3 years.
  • Earnings include an other income of Rs.286 Cr.
  • Debtor days have increased from 41.8 to 52.9 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Healthcare Services Hospital

Part of Nifty 50 BSE 500 BSE Healthcare BSE 100 BSE 200

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
507 544 597 591 610 621 686 697 659 694 737 711 733
354 384 394 391 407 423 461 461 484 506 523 507 518
Operating Profit 154 160 203 200 203 198 225 236 175 188 214 204 215
OPM % 30% 29% 34% 34% 33% 32% 33% 34% 27% 27% 29% 29% 29%
41 43 48 43 134 43 134 18 98 80 47 68 91
Interest 14 14 13 10 15 8 8 23 9 9 9 11 11
Depreciation 30 28 28 30 32 30 32 33 36 35 37 36 35
Profit before tax 151 161 210 203 291 203 318 198 227 223 216 225 260
Tax % 16% 22% 23% 22% 17% 24% 27% 30% 22% 26% 26% 17% 22%
126 126 161 158 242 154 231 138 177 166 160 187 203
EPS in Rs 1.30 1.30 1.66 1.63 2.49 1.59 2.38 1.42 1.82 1.71 1.65 1.92 2.09
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
790 912 984 1,059 1,008 59 1,031 1,775 1,905 2,341 2,664 2,874
768 890 941 1,048 976 65 870 1,332 1,321 1,579 1,830 2,054
Operating Profit 22 22 43 11 31 -6 161 443 584 762 833 821
OPM % 3% 2% 4% 1% 3% -10% 16% 25% 31% 33% 31% 29%
33 35 30 51 47 66 -104 128 144 271 293 286
Interest 43 30 35 41 44 60 112 59 52 52 48 40
Depreciation 49 50 51 49 53 3 91 112 113 117 131 143
Profit before tax -38 -24 -13 -28 -18 -3 -146 400 563 865 947 924
Tax % 0% -0% 0% 0% 26% -5% 12% 17% -23% 21% 26% 22%
-38 -24 -13 -28 -23 -3 -164 332 694 687 701 717
EPS in Rs -0.78 -0.44 -0.24 -0.51 -0.43 -0.06 -1.70 3.42 7.15 7.07 7.21 7.36
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 14% 21% 21% 27%
Compounded Sales Growth
10 Years: 12%
5 Years: 23%
3 Years: 15%
TTM: 8%
Compounded Profit Growth
10 Years: 40%
5 Years: 63%
3 Years: 2%
TTM: -3%
Stock Price CAGR
10 Years: %
5 Years: 34%
3 Years: 24%
1 Year: -10%
Return on Equity
10 Years: 7%
5 Years: 9%
3 Years: 9%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 489 533 537 537 537 537 966 970 971 972 972 973
Reserves 523 762 770 773 749 2,338 4,973 5,342 6,071 6,709 7,317 7,967
296 273 314 386 390 658 480 556 534 443 612 825
141 171 210 278 274 20 724 945 845 945 1,065 1,125
Total Liabilities 1,449 1,740 1,832 1,973 1,951 3,553 7,143 7,812 8,420 9,069 9,967 10,890
430 424 429 502 479 90 2,989 4,493 4,485 4,717 4,871 4,939
CWIP 15 6 30 7 10 0 8 60 103 235 277 479
Investments 451 840 866 799 770 2,471 2,379 1,447 1,475 1,915 2,614 2,626
554 469 508 665 693 992 1,766 1,811 2,358 2,202 2,206 2,847
Total Assets 1,449 1,740 1,832 1,973 1,951 3,553 7,143 7,812 8,420 9,069 9,967 10,890

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
39 64 33 52 -19 -36 219 447 696 613 598 503
-200 -330 -66 -89 55 -2,536 -84 -670 -843 -806 -873 -426
176 251 34 36 -36 2,332 397 -161 -54 -246 -29 39
Net Cash Flow 15 -16 0 -0 -0 -240 532 -384 -201 -438 -304 116
Free Cash Flow -15 42 -47 -7 -66 -39 189 78 579 156 344 153
CFO/OP 223% 338% 93% 573% -35% 467% 122% 111% 134% 100% 94% 86%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 67 48 55 68 103 517 109 56 27 32 40 53
Inventory Days 20 18 19 22 25 33 20 31 24 20 18
Days Payable 171 183 206 250 335 297 159 226 225 191 165
Cash Conversion Cycle -85 -117 -132 -161 -206 517 -155 -83 -169 -169 -130 -94
Working Capital Days -15 -33 -20 -27 14 -493 27 5 -45 -32 -24 -16
ROCE % 0% 1% 1% 2% 2% 4% 7% 9% 12% 13% 10%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
ALOS (Average Length of Stay)
Days

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ARPOB (Average Revenue Per Occupied Bed)
INR '000
Occupancy Percentage
%
Bed Capacity (Network)
Number
Outpatient (OP) Consultations
Lakhs
Operating EBITDA per bed (Annualised)
INR Lakhs

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
23.76% 23.76% 23.75% 23.75% 23.74% 23.74% 23.74% 23.74% 23.74% 23.74% 23.72% 23.71%
59.89% 60.39% 60.69% 57.33% 56.99% 57.29% 56.93% 54.74% 54.76% 51.80% 50.55% 45.39%
11.90% 11.40% 11.55% 14.96% 15.36% 15.14% 15.55% 17.59% 17.41% 20.03% 21.20% 26.32%
4.45% 4.45% 3.99% 3.97% 3.91% 3.84% 3.77% 3.94% 4.09% 4.43% 4.52% 4.58%
No. of Shareholders 1,11,3741,18,6351,11,3381,27,0091,36,2541,37,8561,40,0281,51,6331,62,1191,80,8912,03,8372,16,996

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Credit ratings

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