Max Healthcare Institute Ltd

₹ 438 -0.18%
08 Dec 9:20 a.m.
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

Services
The Company provides healthcare services across secondary and tertiary care specialities, focusing on oncology, neurosciences, cardiac sciences, orthopaedics, renal sciences, liver and biliary sciences and minimal access metabolic and bariatric surgery (“MAMBS”) at the Network Healthcare Facilities. It has two alternate businesses:

  • Market Cap 42,545 Cr.
  • Current Price 438
  • High / Low 483 / 306
  • Stock P/E 45.0
  • Book Value 71.3
  • Dividend Yield 0.00 %
  • ROCE 12.2 %
  • ROE 10.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 111% CAGR over last 5 years

Cons

  • Stock is trading at 6.14 times its book value
  • Promoter holding has decreased over last quarter: -26.8%
  • Company has a low return on equity of 6.90% over last 3 years.

* 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

Sector: Healthcare Industry: Healthcare

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
281 267 248 256 651 796 802 1,000 1,018 976 939 1,066 1,137
253 245 228 281 564 635 634 756 779 728 729 802 818
Operating Profit 27 22 20 -24 87 160 168 244 239 247 210 264 319
OPM % 10% 8% 8% -10% 13% 20% 21% 24% 23% 25% 22% 25% 28%
4 11 27 -214 40 40 29 26 23 46 25 32 26
Interest 21 27 25 35 53 46 45 27 27 25 22 22 22
Depreciation 11 11 12 26 52 48 48 54 54 55 58 57 58
Profit before tax -0 -6 10 -300 22 105 104 190 182 213 154 216 265
Tax % 16% 0% 0% 3% 25% 14% 33% 23% 20% 11% 20% 20% -72%
Net Profit -1 -2 53 -314 17 90 70 147 145 190 124 173 457
EPS in Rs -0.03 -0.03 0.99 -3.47 0.18 1.00 0.72 1.52 1.50 1.96 1.28 1.78 4.72
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,608 1,729 1,691 1,059 2,508 3,931 4,118
1,467 1,616 1,535 965 2,101 2,986 3,077
Operating Profit 141 113 156 94 407 946 1,041
OPM % 9% 7% 9% 9% 16% 24% 25%
59 65 56 48 -122 115 128
Interest 100 99 101 83 179 101 91
Depreciation 96 94 103 46 174 221 228
Profit before tax 5 -15 8 13 -69 739 849
Tax % -236% -65% 102% -1% -67% 18%
Net Profit 16 -25 -0 59 -138 605 944
EPS in Rs 0.29 -0.47 -0.06 1.10 -1.42 6.24 9.74
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 32%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: 111%
3 Years: 3033%
TTM: 106%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 19%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 7%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
537 537 537 537 966 970 970
Reserves 655 627 426 2,016 4,673 5,313 5,948
874 981 1,003 875 1,101 913 769
1,080 1,157 1,389 546 1,803 1,993 1,817
Total Liabilities 3,146 3,302 3,355 3,974 8,543 9,189 9,504
2,244 2,227 2,192 851 6,536 7,018 7,023
CWIP 46 38 87 28 27 151 124
Investments 0 0 1 2,182 1 1 1
856 1,036 1,075 913 1,980 2,020 2,356
Total Assets 3,146 3,302 3,355 3,974 8,543 9,189 9,504

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
156 166 89 77 118 748
-104 -124 -17 -2,641 206 -772
-48 -48 -74 2,353 191 -294
Net Cash Flow 4 -6 -2 -210 516 -317

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 53 59 78 33 53 36
Inventory Days 20 24 26 43 34 24
Days Payable 184 227 292 286 274 177
Cash Conversion Cycle -111 -144 -188 -210 -187 -117
Working Capital Days 7 -2 -136 116 -32 -13
ROCE % 4% 5% 4% 7% 12%

Shareholding Pattern

Numbers in percentages

12 recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
82.24 75.25 75.25 70.46 70.46 60.91 60.68 50.64 50.64 23.80
10.87 17.16 17.28 17.96 14.05 14.23 16.67 14.59 23.34 49.27
0.36 0.28 0.38 4.88 7.95 8.70 15.67 17.57 19.42 21.16
6.53 7.31 7.09 6.70 7.54 16.16 6.97 17.20 6.61 5.76

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

Documents

Concalls