Is Max Healthcare Institute Ltd (MAXHEALTH) a good quality company?

Data is not available for this company.

Is Max Healthcare Institute Ltd (MAXHEALTH) 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 Somewhat overvalued zone .

What is Max Healthcare Institute Ltd (MAXHEALTH) share price return in the past 10 years?

Data is not available for this company

Is Max Healthcare Institute Ltd (MAXHEALTH) 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.

What is the share price of Max Healthcare Institute Ltd (MAXHEALTH)?

Company share prices are keep on changing according to the market conditions. The current trading price of Max Healthcare Institute Ltd (MAXHEALTH) on 17-Apr-2026 16:59:59 at 16:59 is 1006.90.

What is the P/E ratio of Max Healthcare Institute?

The latest standalone P/E ratio of Max Healthcare Institute as of 17-Apr-2026 is 141.85.

What is the P/B ratio of Max Healthcare Institute Ltd (MAXHEALTH)?

The latest standalone P/B ratio of Max Healthcare Institute Ltd (MAXHEALTH) as of 17-Apr-2026 is 11.28.

What is the 52-week high and low of Max Healthcare Institute Ltd (MAXHEALTH)?

The 52-week high of Max Healthcare Institute Ltd (MAXHEALTH) is Rs. 1314.30 and the 52-week low is Rs. 903.50.

Max Healthcare Institute Ltd (MAXHEALTH) Share Analysis – Quality, Pipeline & Valuation Zone & DeciZen Rating

Name: Max Healthcare Institute Ltd (MAXHEALTH)
Brand: Max Healthcare Institute

Key Metrics

Market Cap

₹97,991 Cr.

P/E Ratio

69.05

Price to Book (P/B)

9.46

Price to Sales (P/S)

12.04

EV/EBITDA

43.39

Return on Capital Employed (ROCE)

14.67%

Current Price

₹1,006.9

Return on Equity (ROE)

12.22%

Return on Assets (ROA)

7.91%

Operating Profit Margin

26.2%

Net Profit Margin

15.31%

Gross Profit Margin

26.2%

Book Value per Share

₹106.4

Sales Growth (YoY)

30.01%

Sales Growth (3 Years)

21.32%

Operating Profit Growth (1 Year)

24.26%

Operating Profit Growth (3 Years)

25.17%

Net Profit Growth (1 Year)

1.72%

52-Week Low / High

₹904 / 1,314

Net Profit Growth (3 Years)

21.15%

Dividend Yield

0.14%

Promoter Holding

23.72%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Max Healthcare Institute Ltd?

Max Healthcare Institute Ltd revenue growth is 30% for FY-2025 , which is below its 5 year CAGR of 46% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Max Healthcare Institute Ltd?

Promoters hold 23.72% of the Max Healthcare Institute Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Max Healthcare Institute Ltd vs industry peers?

Max Healthcare Institute Ltd revenue CAGR is 46.01% , compared to the industry median CAGR of 15.55% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Max Healthcare Institute Ltd belong to?

Max Healthcare Institute Ltd belongs to the Healthcare sector, operating specifically within the Hospital & Healthcare Services segment.

Q.1 Stock return of Max Healthcare Institute Ltd over the last decade?

Over the last 5 year(s), the stock has delivered a CAGR of 35.28% based on the current price.

DeciZen - make an informed investing decision on Max Healthcare Inst

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

Max Healthcare Institute stock performance

Key Ratios

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

10 Year X-Ray :

Analysis of Financial Track Record

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
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	-0.8	0.1	0.4	0.5	0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,434	1,608	1,729	1,691	1,059	2,508	3,937	4,563	5,406	7,028	8,140
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	-0	1.1	0.1	6.3	11.4	10.9	11.6	14.6
YoY Gr.	-	NA	NA	NA	NA	-87.3%	4421.4%	79.3%	-4.1%	6.6%	-
BVPS (₹) ⓘ	21.5	22.2	21.7	17.9	47.5	58.1	64.6	75.9	85.8	95.3	106.4
Adj Net Profit ⓘ	-24.4	-1.9	-31	-2	59.2	13.7	613	1,102	1,057	1,128	1,419
Cash Flow from Ops. ⓘ	723	156	82.2	89	77.1	118	741	1,284	1,122	1,459	-
Debt/CF from Ops. ⓘ	1.1	5.6	11.9	11.3	11.1	7.8	1	0.4	1	1.7	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	19.3%	46%	21.3%	30%
Adj EPS ⓘ	NA	60.2%	22.4%	6.6%
BVPSⓘ	18%	14.9%	13.8%	11%
Share Price	-	35.3%	29.4%	-7.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-2.5	-0.2	-2.6	-0.2	3.4	0.3	10.3	16.1	13.4	12.7	14.5
Op. Profit Mgn % ⓘ	7.2	8.8	6.6	8.7	8.4	15.3	23.9	26.9	27.4	26.2	26.4
Net Profit Mgn % ⓘ	-1.7	-0.1	-1.6	0.1	1.2	1.5	15.6	24.2	19.6	16.1	17.4
Debt to Equity ⓘ	0.7	0.7	0.8	1	0.3	0.2	0.1	0.1	0.1	0.3	-
Working Cap Days ⓘ	162	179	188	217	320	154	132	115	98	95	36
Cash Conv. Cycle ⓘ	-24	-21	-21	-22	-11	-15	-14	-21	-25	-18	-7

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	7.1	14.6
TTM Sales (₹ Cr.)	2,800	8,140
BVPS (₹) ⓘ	89.3	106.4
Reserves (₹ Cr.) ⓘ	7,713	9,384
P/BV ⓘ	11.28	9.46
PE ⓘ	141.85	69.05

From the Market
52 Week Low / High (₹)	903.50 / 1314.30
All Time Low / High (₹)	101.65 / 1314.30
Market Cap (₹ Cr.)	97,991
Equity (₹ Cr.)	973.2
Face Value (₹)	10
Industry PE ⓘ	86.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Max Healthcare Inst - Consolidated Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	1,434	1,608	1,729	1,691	1,059	2,508	3,937	4,563	5,406	7,028
Operating Expenses ⓘ +	1,331	1,468	1,616	1,546	970	2,124	2,998	3,335	3,925	5,188
Manufacturing Costs	61	146	165	158	359	722	1,058	1,265	1,426	1,915
Material Costs	399	423	426	364	217	594	923	922	1,119	1,477
Employee Cost	305	353	423	441	230	589	760	809	934	1,174
Other Costs ⓘ	566	545	603	582	164	219	257	339	446	622
Operating Profit ⓘ	104	140	113	146	89	384	938	1,227	1,481	1,840
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 ⓘ +	36	42	55	67	53	135	132	152	189	164
Exceptional Items ⓘ	0	0	0	0	0	-234	-9	0	0	-74
Interest ⓘ	68	100	99	101	83	179	101	84	60	165
Depreciation ⓘ	91	96	94	103	46	174	221	232	245	359
Profit Before Tax ⓘ	-19	-12	-26	8	13	-69	739	1,064	1,365	1,406
Tax ⓘ	4	-11	2	9	-0	46	134	-40	308	330
Profit After Tax	-23	-1	-29	-0	13	-115	605	1,104	1,058	1,076
PAT Margin (%)	-1.6%	-0.1%	-1.7%	-0.0%	1.2%	-4.6%	15.4%	24.2%	19.6%	15.3%
Adjusted EPS (₹)	-0.4	0.3	-0.4	-0.1	1.1	-1.4	6.2	11.4	10.9	11.1
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	9%	14%	14%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	1,145	1,192	1,167	963	2,553	5,612	6,260	7,368	8,341	9,261
Share Capital ⓘ	533	537	537	537	537	966	970	971	972	972
Reserves ⓘ	612	655	630	426	2,016	4,646	5,291	6,397	7,369	8,289
Debt +	769	859	953	964	834	897	704	542	1,122	2,334
Long Term Debt	649	772	849	890	106	843	629	497	1,061	2,270
Short Term Debt	121	87	104	74	727	54	75	46	61	64
Minority Interest	-17	-73	-133	0	0	0	0	0	0	0
Trade Payables	217	214	267	292	180	436	444	543	633	808
Others Liabilities ⓘ	930	954	1,051	1,136	407	1,599	1,781	1,648	1,904	2,784
Total Liabilities ⓘ	3,045	3,146	3,304	3,355	3,974	8,543	9,189	10,102	12,000	15,186
Fixed Assets
Net Fixed Assets ⓘ +	2,273	2,244	2,227	2,192	851	6,536	7,018	7,039	8,721	11,497
Gross Block	2,357	2,423	2,464	2,557	1,252	7,099	7,760	7,958	9,902	13,338
Accumulated Depreciation	84	178	237	365	401	563	742	920	1,182	1,841
CWIP ⓘ	12	46	38	87	28	27	151	252	553	901
Investments ⓘ	0	0	0	1	2,182	1	1	1	2	3
Inventories	23	23	28	26	27	54	61	76	80	106
Trade Receivables	209	235	258	363	96	366	385	336	463	687
Cash Equivalents	13	23	90	12	120	653	499	1,468	1,099	682
Others Assets ⓘ	516	575	663	674	671	907	1,074	930	1,082	1,310
Total Assets ⓘ	3,045	3,146	3,304	3,355	3,974	8,543	9,189	10,102	12,000	15,186

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	723	156	82	89	77	118	741	1,284	1,122	1,459
PBT ⓘ	-19	-12	-26	8	13	-69	739	1,064	1,365	1,406
Adjustment ⓘ	145	194	162	157	109	505	241	226	185	498
Changes in Working Capital ⓘ	272	9	-25	-48	-39	-376	-131	156	-159	-124
Tax Paid ⓘ	327	-35	-23	-28	-6	58	-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	-73	76	-2,136	0	-171	-97	-562	-625
Others ⓘ	263	17	39	23	-415	44	-44	326	57	-47
Cash Flow From Financing Activity ⓘ +	603	-48	12	-74	2,353	191	-294	-289	-264	-164
Net Proceeds from Shares ⓘ	283	0	0	0	1,858	1,179	4	1	1	0
Net Proceeds from Borrowing ⓘ	384	105	89	22	-135	-95	-213	-133	64	293
Interest Paid ⓘ	-65	-95	-94	-96	-78	-155	-72	-71	-187	-141
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	-97	-146
Others ⓘ	0	-58	17	0	708	-737	-13	-86	-44	-171
Net Cash Flow ⓘ	-14	4	-6	-2	-210	236	-317	893	-428	-336

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	-2.29	-0.12	-2.44	-0.02	0.73	-2.8	10.19	16.19	13.47	12.22
ROCE (%)	3.05	4.34	3.46	5.33	3.57	2.22	12.38	15.32	16.26	14.67
Asset Turnover Ratio	0.64	0.52	0.54	0.51	0.29	0.4	0.44	0.47	0.49	0.52
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	5.92	N/A	1.22	1.16	1.06	1.36
Working Capital Days
Receivable Days	49	50	52	67	79	34	35	29	27	30
Inventory Days	5	5	5	6	9	6	5	6	5	5
Payable Days	170	186	206	279	396	189	174	195	192	178

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Max Healthcare Institute Ltd FAQs

The current trading price of Max Healthcare Inst on 17-Apr-2026 16:59 is ₹1,006.9.

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 16-Apr-2026 the market cap of Max Healthcare Inst stood at ₹97,990.8 Cr

The latest P/E ratio of Max Healthcare Inst as of 16-Apr-2026 is 141.8.

The latest P/B ratio of Max Healthcare Inst as of 16-Apr-2026 is 11.28.

The 52-week high of Max Healthcare Inst is ₹1,314.3 and the 52-week low is ₹903.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Max Healthcare Inst is ₹2,800 ( 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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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
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Max Healthcare Institute Ltd (MAXHEALTH) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Max Healthcare Inst Share Price