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 ₹ 1,154 Cr.
- Current Price ₹ 220
- High / Low ₹ 312 / 160
- Stock P/E
- Book Value ₹ 69.1
- Dividend Yield 0.00 %
- ROCE -23.6 %
- ROE -30.0 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.18 times its book value
- 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | 156 | |
216 | 150 | 232 | 202 | 229 | 264 | 275 | |
Operating Profit | -5 | -29 | -3 | 10 | -38 | -101 | -120 |
OPM % | -2% | -24% | -1% | 5% | -20% | -62% | -77% |
277 | 0 | 2 | 1 | 4 | -10 | 14 | |
Interest | 27 | 24 | 10 | 6 | 5 | 8 | 10 |
Depreciation | 8 | 10 | 7 | 8 | 10 | 19 | 21 |
Profit before tax | 237 | -64 | -18 | -3 | -49 | -139 | -136 |
Tax % | 2% | -17% | -11% | 245% | 15% | 1% | |
232 | -53 | -16 | -10 | -56 | -140 | -139 | |
EPS in Rs | 29,706.00 | -8.30 | -2.52 | -2.03 | -10.97 | -27.05 | -26.89 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -5% |
3 Years: | -11% |
TTM: | -4% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
TTM: | -88% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 32% |
3 Years: | 37% |
1 Year: | -8% |
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 | |
---|---|---|---|---|---|---|
Equity Capital | 54 | 54 | 54 | 43 | 43 | 44 |
Reserves | 652 | 599 | 588 | 499 | 449 | 315 |
182 | 145 | 61 | 45 | 44 | 102 | |
136 | 198 | 156 | 166 | 148 | 172 | |
Total Liabilities | 1,024 | 996 | 858 | 753 | 684 | 633 |
144 | 156 | 159 | 159 | 193 | 170 | |
CWIP | 1 | 0 | 0 | 0 | 10 | 21 |
Investments | 414 | 334 | 178 | 83 | 63 | 53 |
465 | 506 | 522 | 511 | 418 | 389 | |
Total Assets | 1,024 | 996 | 858 | 753 | 684 | 633 |
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 |
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% |
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Outcome of AGM
1h - AGM Sept 3, 2025: approved issuance of 3,619,594 warrants, MD reappointment, office shift, compensation and ESOP amendment.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 2d
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Intimation For Forfeiture Of Stock Options
30 Aug - 95,276 ESOPs forfeited effective August 30, 2025; options returned for future grants.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Aug - Analyst/institutional group meeting on Aug 29, 2025, 10:00 AM in Mumbai; no UPSI disclosed.
- Corrigendum To The Notice Of The 6Th Annual General Meeting. 23 Aug
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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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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Dec 2022Transcript PPT
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Aug 2022TranscriptNotesPPT
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Aug 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