Max Healthcare Institute Limited MAXHEALTH NSEAIPHARMA

Healthcare · Medical Care Facilities · India

https://www.maxhealthcare.in

Max Healthcare Institute Limited provides medical and healthcare services in India. It offers services in various specialties, including cardiac sciences, orthopedics, oncology, renal sciences, neurosciences, minimal access and general surgery, pulmonology, obstetrics, gynecology, pediatrics, and nephrology, liver and biliary sciences, gastroenterology and Gi surgery, plastic and reconstructive surgery, and organ transplants, as well as ear, nose, and throat. The company also provides Max@Home, a platform that offers health and wellness services at home; and MaxLab, which provides diagnostic services to patients outside its network of hospitals through various channels comprising third-party hospital laboratory management. It operates through a network of healthcare facilities, including hospitals and medical centres. The company was incorporated in 2001 and is based in Gurugram, India.

Market & Price

Market Cap

₹93,927.75 Cr

Current Price

₹965.10

High / Low (52W)

₹1,299.90 / ₹931.60

Beta

0.13

Valuation

Stock P/E

65.34

Industry PE

37.60

Forward P/E

39.65

PEG Ratio

Book Value

₹102.71

Price to Book

9.40

P/S

11.22

EV/EBITDA

43.07

Dividend Yield

0.16%

Profitability & Returns

ROCE

12.70%

ROE

14.33%

ROA

6.92%

Profit Margin

17.23%

Op Margin

22.56%

EPS (Latest Qtr)

₹3.50

EPS (TTM)

₹14.77

Balance Sheet & Liquidity

Debt/Equity

0.32

Quick Ratio

0.76

Current Ratio

0.89

Debt

₹3,478.36 Cr

Total Assets

₹17,230.94 Cr

Current Assets

₹1,944.79 Cr

Working Capital

₹-242.15 Cr

Ownership

Promoter Holding

26.51%

Chg in Prom Hold

FII / Inst Holding

56.72%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹96,606.32 Cr

Total Revenue (TTM)

₹8,373.45 Cr

EBITDA

₹2,242.83 Cr

Free Cash Flow

₹-211.65 Cr

Operating Cash Flow

₹1,633.32 Cr

Shares Outstanding

₹97.32 Cr

Gross Margin

62.42%

Payout Ratio

10.16%

Growth (CAGR)

Revenue 5Y

23.10%

Profit 5Y

9.34%

Revenue (YoY)

12.20%

Earnings (YoY)

7.30%

PROS

Compounding revenue at 23.1% over 5 years.

CONS

Trading at a high P/E of 65.3.
Trading 25.8% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	MAXHEALTH Max Healthcare Institute Limited NSEAIPHARMA	965.10	65.34	₹93,927.75 Cr	0.16%	12.70%	14.33%	23.10%	9.34%
2	SUNPHARMA Sun Pharmaceutical Industries Limited NIFTY50NSEAIPHARMA	1,799.20	37.59	₹4.32 L Cr	0.92%	17.94%	14.72%	10.39%	10.65%
3	DIVISLAB Divi's Laboratories Limited NSEPHARMA	6,667.00	68.97	₹1.77 L Cr	0.45%	18.96%	16.19%	11.27%	12.08%
4	TORNTPHARM Torrent Pharmaceuticals Limited NSEPHARMA	4,410.80	68.96	₹1.49 L Cr	0.86%	9.06%	16.98%	13.27%	20.21%
5	CIPLA Cipla Limited NIFTY50NSEAIPHARMA	1,401.00	29.16	₹1.13 L Cr	0.93%	14.88%	11.74%	7.23%	11.45%
6	DRREDDY Dr. Reddy's Laboratories Limited NIFTY50NSEAIPHARMA	1,303.50	25.90	₹1.09 L Cr	0.61%	14.00%	11.83%	10.96%	-2.35%
7	ZYDUSLIFE Zydus Lifesciences Limited NSEPHARMA	1,077.70	21.51	₹1.08 L Cr	0.09%	19.24%	18.32%	16.55%	36.99%
8	LUPIN Lupin Limited NIFTY_MIDNSEPHARMA	2,267.70	19.49	₹1.04 L Cr	0.53%	28.42%	26.91%	19.10%	131.46%
9	MANKIND Mankind Pharma Limited NIFTY_MIDNSEPHARMA	2,375.60	51.29	₹98,090.71 Cr	0.08%	13.78%	12.45%	17.73%	14.28%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	1,909.74 Cr	2,027.57 Cr	2,135.47 Cr	2,067.52 Cr	2,142.89 Cr
Cost of Revenue	-	409.43 Cr	445.24 Cr	464.89 Cr	440.35 Cr	439.54 Cr
Gross Profit	-	1,500.31 Cr	1,582.33 Cr	1,670.58 Cr	1,627.17 Cr	1,703.35 Cr
Operating Expenses	-	1,089.52 Cr	1,163.56 Cr	1,203.53 Cr	1,200.10 Cr	1,219.94 Cr
Operating Income	-	410.79 Cr	418.77 Cr	467.05 Cr	427.07 Cr	483.41 Cr
EBITDA	-	558.54 Cr	559.42 Cr	608.05 Cr	535.48 Cr	654.26 Cr
Interest Expense	-	55.21 Cr	54.85 Cr	53.92 Cr	59.67 Cr	66.66 Cr
Pretax Income	-	402.50 Cr	400.43 Cr	446.03 Cr	364.54 Cr	464.58 Cr
Tax Provision	-	83.50 Cr	92.46 Cr	-45.27 Cr	63.62 Cr	122.36 Cr
Net Income	-	319.00 Cr	307.97 Cr	491.30 Cr	300.92 Cr	342.22 Cr
Diluted EPS	-	3.26	3.15	5.02	3.09	3.50

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	4,488.95 Cr	5,309.48 Cr	7,028.46 Cr	8,373.45 Cr
Cost of Revenue	-	921.10 Cr	1,117.95 Cr	1,477.05 Cr	1,790.02 Cr
Gross Profit	-	3,567.85 Cr	4,191.53 Cr	5,551.41 Cr	6,583.43 Cr
Operating Expenses	-	2,522.61 Cr	2,906.96 Cr	4,062.03 Cr	4,787.13 Cr
Operating Income	-	1,045.24 Cr	1,284.57 Cr	1,489.38 Cr	1,796.30 Cr
EBITDA	-	1,367.23 Cr	1,654.86 Cr	1,930.81 Cr	2,357.21 Cr
Interest Expense	-	71.32 Cr	44.56 Cr	165.02 Cr	235.10 Cr
Pretax Income	-	1,063.72 Cr	1,365.32 Cr	1,406.37 Cr	1,675.58 Cr
Tax Provision	-	-39.79 Cr	307.68 Cr	330.49 Cr	233.17 Cr
Net Income	-	1,103.51 Cr	1,057.64 Cr	1,075.88 Cr	1,442.41 Cr
Diluted EPS	6.24	11.36	10.84	11.01	-

Compounded Sales Growth

5 Years:	23.10%
1 Year:	12.20%

Compounded Profit Growth

5 Years:	9.34%
1 Year:	7.30%

Stock Price Performance

1 Year:	-14.89%
6 Months:	-16.50%
3 Months:	-10.94%
1 Month:	-4.12%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	10,101.85 Cr	11,999.94 Cr	15,214.48 Cr	17,230.94 Cr
Current Assets	-	1,943.07 Cr	1,706.18 Cr	1,592.57 Cr	1,944.79 Cr
Cash & Equivalents	-	1,374.33 Cr	979.84 Cr	661.58 Cr	665.80 Cr
Inventory	-	76.23 Cr	79.84 Cr	106.21 Cr	114.28 Cr
Receivables	-	336.12 Cr	462.69 Cr	687.31 Cr	969.75 Cr
Total Liabilities	-	2,692.26 Cr	3,591.80 Cr	5,833.61 Cr	6,484.31 Cr
Current Liabilities	-	1,045.57 Cr	1,248.71 Cr	1,813.77 Cr	2,186.94 Cr
Long Term Debt	-	496.58 Cr	1,056.44 Cr	2,270.06 Cr	2,438.66 Cr
Total Debt	-	908.25 Cr	1,294.56 Cr	3,010.29 Cr	3,478.36 Cr
Total Equity	-	7,409.59 Cr	8,408.14 Cr	9,380.87 Cr	10,746.63 Cr
Shares Outstanding	-	97.09 Cr	97.19 Cr	97.21 Cr	97.32 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	1,284.13 Cr	1,121.67 Cr	1,437.96 Cr	1,633.32 Cr
Investing Cash Flow	-	-102.32 Cr	-1,285.45 Cr	-1,610.69 Cr	-1,688.99 Cr
Financing Cash Flow	-	-288.56 Cr	-263.74 Cr	-163.16 Cr	59.27 Cr
Capital Expenditure	-	-335.61 Cr	-785.95 Cr	-944.48 Cr	-1,484.53 Cr
Free Cash Flow	-	948.52 Cr	335.72 Cr	493.48 Cr	148.79 Cr
Net Change in Cash	-	893.25 Cr	-427.52 Cr	-335.89 Cr	3.60 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	79.5%	78.9%	79.0%	78.6%
Operating Margin %	-	23.3%	24.2%	21.2%	21.5%
Net Margin %	-	24.6%	19.9%	15.3%	17.2%
ROE %	-	14.9%	12.6%	11.5%	13.4%
ROCE %	-	11.5%	11.9%	11.1%	11.9%

Shareholding Pattern

Insiders

26.51%

Institutions

56.72%

Public Float

77.18%

Analyst View

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MAXHEALTH · Healthcare