Max India Ltd

AI

Max India Ltd

₹ 170 0.60%
11 Aug - close price
About

Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs. [1]

Key Points

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

  • Market Cap 960 Cr.
  • Current Price 170
  • High / Low 242 / 120
  • Stock P/E
  • Book Value 197
  • Dividend Yield 0.00 %
  • ROCE -1.01 %
  • ROE -1.01 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.87 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.50%
  • The company has delivered a poor sales growth of -22.4% over past five years.
  • Company has a low return on equity of -0.45% over last 3 years.
  • Company's cost of borrowing seems high
  • Working capital days have increased from 639 days to 1,178 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
8.25 7.68 7.58 7.72 5.83 5.41 4.59 3.30 2.85 3.14 3.13 1.76 1.51
6.70 5.83 6.71 7.99 5.54 5.20 4.99 5.64 4.19 5.61 4.77 5.45 5.00
Operating Profit 1.55 1.85 0.87 -0.27 0.29 0.21 -0.40 -2.34 -1.34 -2.47 -1.64 -3.69 -3.49
OPM % 18.79% 24.09% 11.48% -3.50% 4.97% 3.88% -8.71% -70.91% -47.02% -78.66% -52.40% -209.66% -231.13%
0.79 0.05 7.45 -7.38 1.40 0.09 0.07 -0.20 8.56 0.01 -0.49 0.07 -0.00
Interest 0.07 0.05 0.26 0.21 0.20 0.20 0.20 0.20 0.83 0.13 0.13 0.08 0.12
Depreciation 0.61 0.60 0.75 0.72 0.78 0.82 0.80 0.38 0.38 0.35 0.28 0.26 0.25
Profit before tax 1.66 1.25 7.31 -8.58 0.71 -0.72 -1.33 -3.12 6.01 -2.94 -2.54 -3.96 -3.86
Tax % 21.08% 36.00% -0.68% -3.96% -30.99% 2.78% -28.57% 8.65% 4.99% -85.71% 25.98% -7.07% -2.07%
1.31 0.80 7.36 -8.24 0.93 -0.74 -0.95 -3.39 5.71 -0.42 -3.20 -3.68 -3.78
EPS in Rs 0.26 0.16 1.43 -1.60 0.18 -0.14 -0.18 -0.65 1.09 -0.08 -0.61 -0.70 -0.72
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
74 39 34 33 31 21 11 10
78 26 24 24 27 21 20 21
Operating Profit -5 13 10 9 4 -1 -9 -11
OPM % -6% 33% 29% 28% 13% -4.1% -83% -118%
-112 -13 0 5 1 -0 8 -0
Interest 0 0 0 0 1 1 1 0
Depreciation 3 3 2 2 3 3 1 1
Profit before tax -120 -3 8 11 2 -4 -3 -13
Tax % 3% -430% 17% -8% 25% -7% -53%
-123 9 6 12 1 -4 -2 -11
EPS in Rs -12,326.00 1.35 0.98 2.38 0.24 -0.80 -0.30 -2.11
Dividend Payout % -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: %
5 Years: -22%
3 Years: -31%
TTM: -41%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -60%
Stock Price CAGR
10 Years: %
5 Years: 20%
3 Years: 2%
1 Year: -17%
Return on Equity
10 Years: %
5 Years: 0%
3 Years: 0%
Last Year: -1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 54 54 54 43 43 44 53
Reserves 865 874 882 815 821 821 980
1 1 0 1 6 5 4
12 10 12 10 12 16 5
Total Liabilities 932 939 947 868 881 886 1,043
94 98 99 99 103 7 6
CWIP -0 -0 -0 -0 -0 -0 -0
Investments 735 675 577 523 623 779 956
103 166 271 246 155 100 82
Total Assets 932 939 947 868 881 886 1,043

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-0 19 -8 -17 -17 -9 -24
-0 -18 8 109 17 8 -138
0 -0 -0 -92 0 1 166
Net Cash Flow -0 0 -1 -0 -0 0 4
Free Cash Flow -0 12 -8 -19 -18 -10 -24
CFO/OP 1% 145% -132% -158% -375% 1,069% 256%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 23 33 4 7 2 16 1
Inventory Days
Days Payable
Cash Conversion Cycle 23 33 4 7 2 16 1
Working Capital Days 313 1,117 2,740 2,569 864 -125 1,178
ROCE % 1% 1% 1% 0% -0% -1%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Resident Satisfaction Score (Dehradun)
percent

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Senior Living Units Sold (Cumulative)
units
Care Home Occupied Bed Days
bed days
Care Home Operational Bed Capacity
beds
AGEasy Lives Touched (Cumulative)
lives
AGEasy SKUs
SKUs
AGEasy Marketplace RoAS
ratio
Care Home ARPOB (Average Revenue per Occupied Bed)
Rs per bed per day

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Jul 2026
50.94% 50.94% 50.94% 50.94% 50.94% 50.45% 50.16% 50.06% 49.89% 49.83% 49.76% 48.33%
10.32% 9.54% 9.01% 7.41% 6.77% 6.63% 7.13% 7.08% 7.09% 7.07% 7.06% 6.81%
0.69% 0.81% 0.81% 0.81% 0.94% 0.80% 0.98% 1.43% 1.58% 1.62% 1.65% 5.96%
38.04% 38.70% 39.23% 40.83% 41.35% 42.11% 41.72% 41.45% 41.44% 41.48% 41.50% 38.90%
No. of Shareholders 35,88840,36738,87639,88640,41739,91840,09039,79638,50837,49236,82636,645

* 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.

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

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