Max Healthcare Institute Ltd
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]
- Market Cap ₹ 1,15,102 Cr.
- Current Price ₹ 1,183
- High / Low ₹ 1,228 / 799
- Stock P/E 102
- Book Value ₹ 96.5
- Dividend Yield 0.13 %
- ROCE 14.9 %
- ROE 12.7 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 64.0% CAGR over last 5 years
Cons
- Stock is trading at 12.3 times its book value
- Company has a low return on equity of 13.9% over last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -26.9%
* 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 BSE 500 BSE Healthcare BSE 100 BSE 200 Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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1,608 | 1,729 | 1,691 | 1,884 | 2,508 | 3,937 | 4,563 | 5,406 | 7,028 | |
1,467 | 1,616 | 1,535 | 1,595 | 2,101 | 2,986 | 3,322 | 3,914 | 5,180 | |
Operating Profit | 141 | 113 | 156 | 289 | 407 | 951 | 1,241 | 1,492 | 1,849 |
OPM % | 9% | 7% | 9% | 15% | 16% | 24% | 27% | 28% | 26% |
59 | 65 | 56 | 72 | -122 | 110 | 139 | 178 | 82 | |
Interest | 100 | 99 | 101 | 153 | 179 | 101 | 84 | 60 | 165 |
Depreciation | 96 | 94 | 103 | 120 | 174 | 221 | 232 | 245 | 359 |
Profit before tax | 5 | -15 | 8 | 89 | -69 | 739 | 1,064 | 1,365 | 1,406 |
Tax % | -236% | 65% | 102% | -7% | 67% | 18% | -4% | 23% | 24% |
16 | -25 | -0 | 95 | -138 | 605 | 1,104 | 1,058 | 1,076 | |
EPS in Rs | 0.29 | -0.47 | -0.06 | 1.77 | -1.42 | 6.24 | 11.37 | 10.88 | 11.07 |
Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | 9% | 14% | 14% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 30% |
3 Years: | 21% |
TTM: | 30% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 64% |
3 Years: | 23% |
TTM: | 7% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 49% |
1 Year: | 46% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 12% |
3 Years: | 14% |
Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 537 | 537 | 537 | 537 | 966 | 970 | 971 | 972 | 972 |
Reserves | 655 | 627 | 426 | 450 | 4,673 | 5,313 | 6,439 | 7,436 | 8,409 |
874 | 981 | 1,003 | 1,516 | 1,101 | 913 | 689 | 1,299 | 3,010 | |
1,080 | 1,157 | 1,389 | 1,300 | 1,803 | 1,993 | 2,003 | 2,293 | 2,823 | |
Total Liabilities | 3,146 | 3,302 | 3,355 | 3,804 | 8,543 | 9,189 | 10,102 | 12,000 | 15,214 |
2,244 | 2,227 | 2,192 | 2,380 | 6,536 | 7,018 | 7,039 | 8,784 | 11,502 | |
CWIP | 46 | 38 | 87 | 6 | 27 | 151 | 252 | 553 | 900 |
Investments | -0 | -0 | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
856 | 1,036 | 1,075 | 1,418 | 1,980 | 2,020 | 2,810 | 2,661 | 2,809 | |
Total Assets | 3,146 | 3,302 | 3,355 | 3,804 | 8,543 | 9,189 | 10,102 | 12,000 | 15,214 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
156 | 166 | 89 | 250 | 118 | 741 | 1,284 | 1,122 | 1,459 | |
-104 | -124 | -17 | -127 | 206 | -764 | -102 | -1,253 | -1,632 | |
-48 | -48 | -74 | 144 | 191 | -294 | -289 | -264 | -164 | |
Net Cash Flow | 4 | -6 | -2 | 267 | 516 | -317 | 893 | -394 | -336 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 53 | 59 | 78 | 80 | 53 | 36 | 27 | 31 | 36 |
Inventory Days | 20 | 24 | 26 | 40 | 34 | 24 | 30 | 26 | 26 |
Days Payable | 184 | 227 | 292 | 273 | 274 | 174 | 215 | 221 | 200 |
Cash Conversion Cycle | -111 | -144 | -188 | -153 | -187 | -114 | -158 | -164 | -138 |
Working Capital Days | 7 | -2 | -136 | -91 | -32 | -13 | -39 | -36 | -34 |
ROCE % | 4% | 6% | 11% | 7% | 12% | 15% | 16% | 15% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Investor Presentation 31 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
27 May - Max Healthcare announces senior management's schedule for June 2025 investor conferences.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
27 May - Transcript of Earnings Call held on May 21, 2025
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Compliances-Reg.24(A)-Annual Secretarial Compliance
23 May - Annual Secretarial Compliance Report for FY ended March 31, 2025; no major violations noted.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
21 May - Newspaper publication pertaining to Financial Results for the quarter and financial year ended March 31, 2025
Annual reports
Concalls
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May 2025Transcript PPT
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Leadership
The company is India’s 2nd largest hospital chain in terms of hospital revenue, EBITDA, and market capitalization. [1]