Max India Ltd

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

Max India Ltd

₹ 123 -6.36%
30 Mar - close price
maxindia.com BSE: 543223 NSE: MAXIND
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

Website BSE NSE
  • Market Cap ₹ 645 Cr.
  • Current Price ₹ 123
  • High / Low ₹ 242 / 120
  • Stock P/E
  • Book Value ₹ 89.1
  • Dividend Yield 0.00 %
  • ROCE -23.6 %
  • ROE -30.0 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -5.08% over past five years.
  • Company has a low return on equity of -12.6% over last 3 years.
  • Debtor days have increased from 21.4 to 49.8 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

Financial Services Financial Services Finance Holding Company

Part of BSE Allcap BSE Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
43 56 41 49 41 45 26 43 35 42 37 45 43
46 55 53 54 58 66 54 64 64 82 65 76 79
Operating Profit -3 1 -12 -5 -17 -21 -28 -21 -30 -41 -28 -31 -36
OPM % -7% 2% -31% -9% -43% -46% -106% -49% -85% -98% -76% -69% -83%
3 4 6 6 5 5 6 5 -8 4 13 5 4
Interest 2 2 1 1 1 1 1 2 2 3 4 4 3
Depreciation 2 2 2 2 2 3 4 5 5 5 6 6 6
Profit before tax -4 1 -10 -2 -17 -20 -27 -22 -44 -45 -25 -36 -41
Tax % -93% 388% 19% 160% 8% 6% 0% 3% 0% 2% 4% -5% 3%
-0 -4 -12 -5 -18 -22 -27 -23 -45 -46 -26 -34 -43
EPS in Rs -0.05 -0.82 -2.38 -0.91 -3.48 -4.20 -5.25 -4.42 -8.68 -8.88 -4.91 -6.52 -8.17
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
211 121 229 212 191 163 166
216 150 232 202 229 264 302
Operating Profit -5 -29 -3 10 -38 -101 -135
OPM % -2% -24% -1% 5% -20% -62% -81%
277 0 2 1 4 -10 25
Interest 27 24 10 6 5 8 14
Depreciation 8 10 7 8 10 19 23
Profit before tax 237 -64 -18 -3 -49 -139 -147
Tax % 2% -17% -11% 245% 15% 1%
232 -53 -16 -10 -56 -140 -149
EPS in Rs 29,706.00 -8.30 -2.52 -2.03 -10.97 -27.05 -28.48
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -5%
3 Years: -11%
TTM: 12%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -48%
Stock Price CAGR
10 Years: %
5 Years: 15%
3 Years: 17%
1 Year: -30%
Return on Equity
10 Years: %
5 Years: -9%
3 Years: -13%
Last Year: -30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 54 54 54 43 43 44 52
Reserves 652 599 588 499 449 315 415
182 145 61 45 44 102 204
136 198 156 166 148 172 167
Total Liabilities 1,024 996 858 753 684 633 838
144 156 159 159 193 170 166
CWIP 1 0 0 0 10 21 32
Investments 414 334 178 83 63 53 59
465 506 522 511 418 389 581
Total Assets 1,024 996 858 753 684 633 838

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-19 73 66 69 -102 -128
-526 13 18 124 159 47
557 -73 -94 -119 -29 -13
Net Cash Flow 12 12 -10 75 27 -93
Free Cash Flow -209 61 64 66 -131 -163
CFO/OP -149% -190% -2,353% 690% 241% 126%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 24 22 9 5 9 50
Inventory Days 1,736 6,544 385 223 38 186
Days Payable 154 633 28 48 148 346
Cash Conversion Cycle 1,607 5,932 366 180 -100 -111
Working Capital Days 438 500 343 249 -99 -93
ROCE % -4% -0% 1% -8% -24%

Insights

In beta
Dec 2023 Sep 2025
AGEasy Lives Touched (Cumulative)
Number of Seniors

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Care at Home Patients Served (Cumulative)
Number of Patients
Care Home Bed Capacity
Number of Beds
Senior Living Saleable Area (Noida Phase 1)
sq. ft.
Estate 360 Sales Collection
INR Crores
Senior Living Units Sold (%) - Gurugram E360
Percentage

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
51.11% 51.11% 50.94% 50.94% 50.94% 50.94% 50.94% 50.94% 50.45% 50.16% 50.06% 49.89%
11.26% 10.71% 10.59% 10.32% 9.54% 9.01% 7.41% 6.77% 6.63% 7.13% 7.08% 7.09%
0.00% 0.00% 0.69% 0.69% 0.81% 0.81% 0.81% 0.94% 0.80% 0.98% 1.43% 1.58%
37.63% 38.18% 37.77% 38.04% 38.70% 39.23% 40.83% 41.35% 42.11% 41.72% 41.45% 41.44%
No. of Shareholders 38,69736,35636,56335,88840,36738,87639,88640,41739,91840,09039,79638,508

* 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.

Documents

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