Max India Ltd
Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs. [1]
- Market Cap ₹ 992 Cr.
- Current Price ₹ 191
- High / Low ₹ 319 / 160
- Stock P/E
- Book Value ₹ 167
- Dividend Yield 0.00 %
- ROCE -0.43 %
- ROE -0.49 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 1.12 times its book value
Cons
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -0.49%
- The company has delivered a poor sales growth of -23.6% over past five years.
- Company has a low return on equity of 0.22% 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
Financial Services Financial Services Finance Holding Company
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
73.61 | 33.66 | 32.61 | 32.75 | 31.29 | 19.13 | |
78.32 | 25.95 | 23.91 | 23.74 | 27.22 | 21.72 | |
Operating Profit | -4.71 | 7.71 | 8.70 | 9.01 | 4.07 | -2.59 |
OPM % | -6.40% | 22.91% | 26.68% | 27.51% | 13.01% | -13.54% |
-112.32 | -7.49 | 1.25 | 4.79 | 0.85 | 1.71 | |
Interest | 0.05 | 0.16 | 0.16 | 0.24 | 0.59 | 0.80 |
Depreciation | 3.08 | 2.68 | 2.17 | 2.24 | 2.68 | 2.78 |
Profit before tax | -120.16 | -2.62 | 7.62 | 11.32 | 1.65 | -4.46 |
Tax % | 2.57% | -430.15% | 17.45% | -7.51% | 24.85% | -6.95% |
-123.26 | 8.65 | 6.29 | 12.16 | 1.24 | -4.15 | |
EPS in Rs | -12,326.00 | 1.35 | 0.98 | 2.38 | 0.24 | -0.80 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -24% |
3 Years: | -16% |
TTM: | -39% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | % |
TTM: | -416% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 44% |
1 Year: | -31% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 1% |
3 Years: | 0% |
Last Year: | 0% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 53.79 | 53.79 | 53.79 | 43.03 | 43.17 | 43.59 |
Reserves | 865.38 | 874.23 | 881.81 | 814.78 | 820.82 | 821.21 |
0.73 | 0.65 | 0.15 | 0.79 | 5.50 | 4.90 | |
11.89 | 10.15 | 11.60 | 9.74 | 11.63 | 16.24 | |
Total Liabilities | 931.79 | 938.82 | 947.35 | 868.34 | 881.12 | 885.94 |
93.81 | 97.82 | 99.19 | 99.23 | 102.96 | 6.98 | |
CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Investments | 735.03 | 675.06 | 577.09 | 523.49 | 622.93 | 779.10 |
102.95 | 165.94 | 271.07 | 245.62 | 155.23 | 99.86 | |
Total Assets | 931.79 | 938.82 | 947.35 | 868.34 | 881.12 | 885.94 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
3.01 | 18.84 | -7.96 | -17.38 | -17.02 | -9.32 | |
-4.13 | -18.17 | 7.84 | 109.16 | 16.72 | 7.71 | |
1.53 | -0.17 | -0.45 | -91.81 | 0.17 | 1.62 | |
Net Cash Flow | 0.41 | 0.50 | -0.56 | -0.03 | -0.12 | 0.01 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 23.35 | 38.39 | 4.03 | 6.80 | 1.98 | 16.79 |
Inventory Days | ||||||
Days Payable | ||||||
Cash Conversion Cycle | 23.35 | 38.39 | 4.03 | 6.80 | 1.98 | 16.79 |
Working Capital Days | 318.39 | 1,292.68 | 2,832.70 | 2,568.93 | 864.26 | 257.01 |
ROCE % | 1.14% | 0.83% | 0.78% | 0.27% | -0.43% |
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
10 Jun - Shareholders to approve Rs. 20 Cr related party transaction for senior living project services.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Jun
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
5 Jun - Max India reports Q4 FY25 results, INR124.23 Cr Rights Issue, INR105 Cr asset sale, strong senior living sales, and growth in assisted care and AGEasy.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 31 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 May - Max India’s ₹124.23 Cr rights issue oversubscribed 1.45x, fueling senior care business growth.
Annual reports
Concalls
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Jun 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Oct 2024TranscriptNotesPPT REC
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Jun 2024Transcript PPT REC
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May 2024TranscriptNotesPPT
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Feb 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Dec 2023TranscriptNotesPPT
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Nov 2023Transcript PPT
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Sep 2023Transcript PPT
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Aug 2023TranscriptNotesPPT REC
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Aug 2023TranscriptNotesPPT
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Jun 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Dec 2022Transcript PPT
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Nov 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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Aug 2022Transcript PPT
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Aug 2022TranscriptNotesPPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Jan 2022Transcript PPT
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Nov 2021TranscriptPPT
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Aug 2021TranscriptPPT
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Feb 2021TranscriptNotesPPT
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Sep 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
Business Profile[1]
Max India Limited, through its Antara brand and subsidiaries like Max Estates Gurgaon Limited (MEGL), operates in the senior care sector. Their business includes senior living residences, assisted care services such as care homes and at-home care, and a products vertical (AGEasy) catering to senior needs