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Max Healthcare Institute Ltd - Stock Valuation and Financial Performance

BSE: 543220 | NSE: MAXHEALTH | Hospital & Healthcare Services | Large Cap

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Max Healthcare Inst Share Price

 ₹1,219.40 -32.10 -2.56%
as on 11-Jul'25 16:59

Max Healthcare Institute Ltd - Stock Valuation and Financial Performance

BSE: 543220 | NSE: MAXHEALTH | Hospital & Healthcare Services | Large Cap

Place order

Max Healthcare Inst Share Price

 ₹1,219.40 -32.10 -2.56%
as on 11-Jul'25 16:59

DeciZen - make an informed investing decision on Max Healthcare Inst

Overall Rating ⓘ
Bole Toh

1. Quality

NA
Check detailed 10 Yrs performace

2. Valuation

Overvalued
Check 10 Yrs Valuation charts

3. Price Trend

Semi Strong
Check Price chart

Max Healthcare Institute stock performance -

PE Chart Key Ratios
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P/E Ratio (CD):
113.08
Market Cap:
1,21,664.2 Cr.
52-wk low:
837
52-wk high:
1,314.3

Is Max Healthcare Institute Ltd an attractive stock to invest in?

1. Is Max Healthcare Institute Ltd a good quality company?

Data is not available for this company.

2. Is Max Healthcare Institute Ltd undervalued or overvalued?

The key valuation ratios of Max Healthcare Institute Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Max Healthcare Institute Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Max Healthcare Institute Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Max Healthcare Inst:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ3.1%4.3%3.5%5.3%3.6%2.2%12.4%15.3%16.3%14.7%-
Value Creation
Index ⓘ		-0.7-0.6-0.7-0.5-0.7-0.80.10.40.50.3-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ1,4341,6081,7291,6911,0592,5083,9374,5635,4067,0287,028
Sales YoY Gr.-12.1%7.5%-2.2%-37.4%136.8%57%15.9%18.5%30%-
Adj EPS ⓘ-0.5-0-0.6-01.10.16.311.410.911.611.1
YoY Gr.-NANANANA-87.3%4421.4%79.3%-4.1%6.6%-
BVPS (₹) ⓘ21.522.221.717.947.558.164.675.985.895.395.3
Adj Net
Profit ⓘ		-24.4-1.9-31-259.213.76131,1021,0571,1281,076
Cash Flow from Ops. ⓘ72315682.28977.11187411,2841,1221,459-
Debt/CF from Ops. ⓘ1.15.611.911.311.17.810.411.7-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ19.3%46%21.3%30%
Adj EPS ⓘNA60.2%22.4%6.6%
BVPSⓘ18%14.9%13.8%11%
Share Price - - 49.4% 36%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		-2.5-0.2-2.6-0.23.40.310.316.113.412.711.6
Op. Profit
Mgn % ⓘ		7.28.86.68.78.415.323.926.927.426.226.3
Net Profit
Mgn % ⓘ		-1.7-0.1-1.60.11.21.515.624.219.616.115.3
Debt to
Equity ⓘ		0.70.70.810.30.20.10.10.10.30.2
Working Cap
Days ⓘ		162179188217320154132115989545
Cash Conv.
Cycle ⓘ		-24-21-21-22-11-15-14-21-25-183

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 21.32%

Net Profit is growing at healthy rate in last 3 years 22.37%

Sales growth is good in last 4 quarters at 29.87%

Return on Equity has declined versus last 3 years average to 11.60%

Latest Financials - Max Healthcare Institute Ltd.

Standalone Consolidated
TTM EPS (₹) 7.2 11.1
TTM Sales (₹ Cr.) 2,664 7,028
BVPS (₹.) ⓘ 84 95.3
Reserves (₹ Cr.) ⓘ 7,198 8,289
P/BV ⓘ 14.89 13.14
PE ⓘ 173.54 113.08
From the Market
52 Week Low / High (₹) 837.00 / 1314.30
All Time Low / High (₹) 101.65 / 1314.30
Market Cap (₹ Cr.) 1,21,664
Equity (₹ Cr.) 972.2
Face Value (₹) 10
Industry PE ⓘ 47.2

Management X-Ray of Max Healthcare Inst:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Max Healthcare Inst

Event Update

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Analyst's Notes

No data found!

Key Ratios of Max Healthcare Inst

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,4341,6081,7291,6911,0592,5083,9374,5635,4067,028
Operating Expenses ⓘ 1,3311,4681,6161,5469702,1242,9983,3353,9255,188
Manufacturing Costs611461651583597221,0581,2651,4261,915
Material Costs3994234263642175949239221,1191,477
Employee Cost 3053534234412305897608099341,174
Other Costs ⓘ 566545603582164219257339446622
Operating Profit ⓘ 104140113146893849381,2271,4811,840
Operating Profit Margin (%) 7.2%8.7%6.5%8.6%8.4%15.3%23.8%26.9%27.4%26.2%
Other Income ⓘ 3642556753135132152189164
Interest ⓘ 6810099101831791018460165
Depreciation ⓘ 91969410346174221232245359
Exceptional Items ⓘ 00000-234-900-74
Profit Before Tax ⓘ -19-12-26813-697391,0641,3651,406
Tax ⓘ 4-1129046134-40308330
Profit After Tax -23-1-29013-1156051,1041,0581,076
PAT Margin (%) -1.6%-0.1%-1.7%0.0%1.2%-4.6%15.4%24.2%19.6%15.3%
Adjusted EPS (₹)-0.40.3-0.4-0.11.1-1.46.211.410.911.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%9%14%14%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 1,1451,1921,1679632,5535,6126,2607,3688,3419,261
Share Capital ⓘ 533537537537537966970971972972
Reserves ⓘ 6126556304262,0164,6465,2916,3977,3698,289
Minority Interest-17-73-1330000000
Debt7698599539648348977045421,1222,334
Long Term Debt6497728498901068436294971,0612,270
Short Term Debt12187104747275475466164
Trade Payables217214267292180436444543633808
Others Liabilities ⓘ 9309541,0511,1364071,5991,7811,6481,9042,784
Total Liabilities ⓘ 3,0453,1463,3043,3553,9748,5439,18910,10212,00015,186

Fixed Assets

Gross Block2,3572,4232,4642,5571,2527,0997,7607,9589,90213,338
Accumulated Depreciation841782373654015637429201,1821,841
Net Fixed Assetsⓘ 2,2732,2442,2272,1928516,5367,0187,0398,72111,497
CWIP ⓘ 124638872827151252553901
Investmentsⓘ 00012,18211123
Inventories232328262754617680106
Trade Receivables20923525836396366385336463687
Cash Equivalents 132390121206534991,4681,099682
Others Assetsⓘ 5165756636746719071,0749301,0821,310
Total Assets ⓘ 3,0453,1463,3043,3553,9748,5439,18910,10212,00015,186

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ 7231568289771187411,2841,1221,459
PBT ⓘ -19-12-26813-697391,0641,3651,406
Adjustment ⓘ 145194162157109505241226185498
Changes in Working Capital ⓘ 2729-25-48-39-376-131156-159-124
Tax Paid ⓘ 327-35-23-28-658-109-161-269-321
Cash Flow From Investing Activity ⓘ -1,340-104-100-17-2,641-73-764-102-1,285-1,632
Capex -1,603-115-66-116-90-117-548-332-780-959
Net Investments 0-6-7376-2,1360-171-97-562-625
Others ⓘ 263173923-41544-4432657-47
Cash Flow From Financing Activityⓘ 603-4812-742,353191-294-289-264-164
Net Proceeds from Shares ⓘ 2830001,8581,1794110
Net Proceeds from Borrowing ⓘ 3841058922-135-95-213-13364293
Interest Paid ⓘ -65-95-94-96-78-155-72-71-187-141
Dividend Paid ⓘ 00000000-97-146
Others ⓘ 0-58170708-737-13-86-44-171
Net Cash Flow ⓘ -144-6-2-210236-317893-428-336

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-2.29-0.12-2.44-0.020.73-2.810.1916.1913.4712.22
ROCE (%)3.054.343.465.333.572.2212.3815.3216.2614.67
Asset Turnover Ratio0.640.520.540.510.290.40.440.470.490.52
PAT to CFO Conversion(x)N/AN/AN/AN/A5.92N/A1.221.161.061.36
Working Capital Days
Receivable Days49505267793435292730
Inventory Days5556965655
Payable Days170186206279396189174195192178

Max Healthcare Institute Ltd Stock News

Max Healthcare Institute Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Max Healthcare Inst on 11-Jul-2025 16:59 is ₹1,219.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Jul-2025 16:59 the market cap of Max Healthcare Inst stood at ₹1,21,664.2.
The latest P/E ratio of Max Healthcare Inst as of 11-Jul-2025 16:59 is 173.5.
The latest P/B ratio of Max Healthcare Inst as of 11-Jul-2025 16:59 is 14.89.
The 52-week high of Max Healthcare Inst is ₹1,314.3 and the 52-week low is ₹837.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Max Healthcare Inst is ₹2,664 ( Cr.) .

About Max Healthcare Institute Ltd

Max Healthcare Institute Limited is the second largest healthcare chain in India by revenue with a network of various Healthcare Facilities, including BLK Super Speciality Hospital and Nanavati Super Speciality Hospital (post de-merger of Radiant’s healthcare business into the company). Its network includes four Partner Healthcare Facilities, to whom it provide healthcare services in key specialities pursuant to prevailing agreements. It has major concentration in north India with many hospitals and medical centres located in Delhi NCR and the others in the cities of Mumbai, Mohali, Bathinda and Dehradun.

The company commenced operations in the year 2000 with its first hospital, Max Medcentre in Panchsheel Park, and expanded its operations by opening various multi-speciality hospitals and entering into arrangements with societies and trusts. It provides healthcare services across secondary and tertiary care specialities with key focus on centres of excellence i.e. oncology, neurosciences, cardiac sciences, orthopaedics, renal sciences, liver and biliary sciences and minimal access metabolic and bariatric surgery (MAMBS).

In addition to the core hospital business, the company has two SBUs, namely, Max@Home and MaxLab. Max@Home is a platform that provides health and wellness services at home and MaxLab offers pathology services to patients outside of its hospitals through a variety of channels including third party hospital laboratory management.

Max Healthcare is promoted and led by Abhay Soi as its Chairman and Managing director and co- promoted by KKR, the iconic Global Private equity fund.  The present amalgamated company was formed subsequent to the acquisition of 49.7% stake in erstwhile Max Healthcare Institute Limited by Radiant Life Care Pvt. Ltd. (Radiant) and the amalgamation of Max Healthcare with Radiant thereafter. The amalgamated entity assumed the name Max Healthcare Institute limited. Prior to the amalgamation, Radiant was led and promoted by Abhay Soi.

Business area of the company

The company offers healthcare services through its various facilities in Delhi and the National Capital Region, and facilities in Mohali and Bathinda. It provides services in the areas of cardiology, orthopedics and joint replacement, cancer, neurosciences, pediatrics, obstetrics and gynecology, aesthetics and reconstructive plastic surgery, internal medicine, eye and dental care, endocrinology, diabetes, obesity, ENT, metal health and behavioral sciences, physiotherapy and rehabilitation, and nuclear medicine, as well as minimal access, metabolic, and bariatric surgery.

Awards & recognitions

2019-2020

  • Max Super Speciality Hospital, Saket was awarded the ‘Patient Safety Award’ for ‘Project Nursing Excellence’ by the Federation of Indian Chambers of Commerce & Industry.
  • Max Super Speciality Hospital, Patparganj was awarded Diamond Award for Stroke Ready Centre by the World Stroke Organisation.
  • Max Smart Super Speciality Hospital, Saket won the Nursing Excellence Award at AHPI Healthcare Excellence Awards 2020.
  • BLK Super Speciality Hospital, Pusa Road won the Best Hospital - Neurology (National) Best Hospital - Gastroenterology & Hepatology (North) Best Hospital - Orthopaedic (North), Best Multi-Speciality Hospital (North) and Best Hospital-Cardiology (North) at ET Healthworld Awards 2020.
  • FICCI Excellence Awards for ‘Operational Excellence’ was awarded to the mpany by the Federation of Indian Chambers of Commerce and Industry.
  • Max Super Speciality Hospital, Vaishali won the award for Quality Beyond Accreditation at AHPI Healthcare Excellence Awards 2020.
  • BLK Super Speciality Hospital, Pusa Road won the Award for Quality Beyond Accreditation at AHPI Healthcare Excellence Awards 2020.
  • Max Super Speciality Hospital, Saket won the Best Hi-Tech Hospital (National) at ET Healthworld Awards 2020.
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