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BSE: 543220 | NSE: MAXHEALTH | Hospital & Healthcare Services | Mid Cap
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 Somewhat overvalued zone.
3. Is Max Healthcare Institute Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Max Healthcare Institute Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | -0.1% | -0.8% | -0.3% | 1% | -0.3% | 0.7% | 1.5% | 1.3% | 5.7% | 10.3% | - | ||
| Value Creation Index ⓘ | -1.0 | -1.1 | -1.0 | -0.9 | -1.0 | -0.9 | -0.9 | -0.9 | -0.5 | -0.1 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 704 | 790 | 912 | 1,010 | 1,059 | 1,008 | 59.3 | 1,031 | 1,775 | 1,905 | 2,007 | ||
| YoY Gr. Rt. % | - | 12.1% | 15.6% | 10.7% | 4.8% | -4.8% | -94.1% | 1,639.4% | 72.2% | 7.3% | - | ||
| Adj EPS ⓘ | -0.8 | -0.8 | -0.5 | -0.2 | -0.6 | -0.3 | -0.1 | -0.2 | 3.4 | 7.2 | 7.6 | ||
| YoY Gr. Rt. % | - | NA | NA | NA | NA | NA | NA | NA | NA | 109.1% | - | ||
| BVPS (₹) ⓘ | 15.5 | 20.7 | 24.3 | 24.9 | 24.4 | 24 | 53.5 | 61.2 | 64.9 | 72.1 | 73.4 | ||
| Adj Net Profit ⓘ | -32.4 | -39.3 | -25.4 | -8.7 | -33.9 | -18.3 | -3 | -16.6 | 331 | 694 | 734 | ||
| Cash Flow from Ops. ⓘ | -10.6 | 29.2 | 60.6 | 32.9 | 52 | -19.2 | -36.1 | 224 | 447 | 696 | - | ||
| Debt/CF from Ops. ⓘ | -32.4 | 10.2 | 4.5 | 9.5 | 7.4 | -20.4 | -18.2 | 1.5 | 0.9 | 0.7 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 11.7% | 12.5% | 217.9% | 7.3% | ||||||||
| Adj EPS ⓘ | NA | NA | NA | 109.1% | ||||||||
| BVPSⓘ | 18.6% | 24.2% | 10.4% | 11.2% | ||||||||
| Share Price | - | - | 71% | 27.3% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | -4.6 | -4.5 | -2.2 | -0.7 | -2.6 | -1.4 | -0.1 | -0.4 | 5.4 | 10.4 | 10.4 | |
| Op. Profit Mgn % ⓘ | 1.7 | 2.8 | 2.5 | 4.3 | 1 | 3.4 | -10.1 | 15.7 | 24.5 | 30.6 | 30.9 | |
| Net Profit Mgn % ⓘ | -4.6 | -5 | -2.8 | -0.9 | -3.2 | -1.8 | -5 | -1.6 | 18.7 | 36.4 | 36.6 | |
| Debt to Equity ⓘ | 0.5 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | - | |
| Working Cap Days ⓘ | 279 | 244 | 200 | 193 | 218 | 244 | 4,972 | 369 | 265 | 244 | 0 | |
| Cash Conv. Cycle ⓘ | 13 | 24 | -14 | -21 | -17 | -13 | -153 | 29 | 12 | -13 | 0 | |
Return on Equity has increased versus last 3 years average to 10.40%
Sales growth is growing at healthy rate in last 3 years 217.94%
Sales growth is good in last 4 quarters at 18.12%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.6 | 12.1 |
| TTM Sales (₹ Cr.) | 2,007 | 4,778 |
| BVPS (₹.) ⓘ | 73.4 | 78.3 |
| Reserves (₹ Cr.) ⓘ | 6,156 | 6,637 |
| P/BV ⓘ | 7.41 | 6.94 |
| PE ⓘ | 71.99 | 45.08 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 388.05 / 630.00 |
| All Time Low / High (₹) | 101.65 / 630.00 |
| Market Cap (₹ Cr.) | 52,781 |
| Equity (₹ Cr.) | 971.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 67.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 42.69 | 51.15 | 51.15 | 0.00 | 0.00 | 0.00 | 0.00 |
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
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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