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MAXHEALTH · Max Healthcare Institute Ltd · Healthcare Facilities

MAXHEALTH · Max Healthcare Institute Ltd · Healthcare Facilities

₹934+0.2%

As of 06 Nov close

52-week range

52wk low ₹79752wk high ₹1,185.4

21.2% below 52-week high

52-week range: as of 06 Nov 2026 close.

Price chartDaily closes on the stock page.

Stock Condition:67 out of 100(+2 vs previous session)

Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.

Stock Condition as of 06 Nov 2026 close

Slowest input: promoter pledge (disclosed quarterly), as of 18 Jul 2026

Full signal detail →

Fundamentals as of 15 Sep 2026 · the company's own latest record is 53 days old

Revenue growth acceleratingFII holding falling for 2+ quarters

Revenue (latest Q)

₹2,366 Cr

Revenue YoY

PAT YoY

+4.7%

Operating margin

Revenue, last 8 quarters

P/E (TTM)

P/B

21.3

P/S (TTM)

11.6

Sector P/E

29.7

Dividend yield

+0.2%

CompanyP/EP/BNet marginROED/EDiv. yield
MAXHEALTH (this stock)75.321.3+16.7%+13.6%0.32+0.2%
Apollo Hospitals Enterprise64.913.4+7.8%+21.9%53.8+0.2%
Fortis Healthcare6914.6+11.0%+10.6%0.35+0.1%
Aster DM Healthcare126.915.5+6.5%+7.0%0.49+0.4%

Promoter

stable

FII

falling 3q

MF

18.68% (+2.38pp)

rising 2q

Insider trades

No insider trades in the last 12 months.

Bulk/block deals

No bulk/block deals in the last 12 months.

News timeline

Concalls & investor presentations

AI-generated
Concall transcriptPositive20 Aug 2026
View source filing →

Key takeaway: Max Healthcare Institute Limited reported Q1 FY27 earnings with a 16% year-on-year revenue growth to INR 2,982 crore and a 15% increase in operating EBITDA to INR 704 crore. The company highlighted capacity expansion, including 50% operationalization of a 400-bed tower at Max Smart and 50 beds at Nanavati Max, with Phase 2 expansions underway. The acquisition of Max Bhubaneswar contributed INR 19 crore in revenue and INR 2 crore in EBITDA, with plans to renovate infrastructure and enhance clinical programs. Research initiatives include a standalone Max Research Centre and over 750 clinical trials. Digital revenue reached INR 941 crore (32% of total), with website traffic up 41% year-on-year. The company also discussed plans for medical education, leveraging recent regulatory changes allowing for-profit medical colleges, with estimated ROCE of 25-30%. Management noted challenges in oncology revenue due to discontinuation of certain drugs, but expects normalization by Q3 FY27. Free cash flow was INR 397 crore, with INR 386 crore allocated to acquisitions and capacity expansion. Net debt stood at INR 2,384 crore, with a net debt-to-EBITDA ratio below 1. The company emphasized growth in non-oncology segments and ongoing expansion projects across multiple locations, with future capacity additions expected to drive revenue and profitability.

The document emphasizes growth in revenue, EBITDA, capacity expansion, and strategic initiatives like medical education and research, with management expressing confidence in future performance despite some challenges.

Sourced from an exchange-filed transcript, dated 20 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive17 Aug 2026
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Key takeaway: On August 17, 2026, Max Healthcare Institute Limited submitted an investor presentation in connection with its participation in the Motilal Oswal 22nd Annual Global Investor Conference. The presentation outlined the company's current capacity of over 6,100 beds across 21 facilities, emphasizing its position as India's second-largest hospital chain by revenue and EBITDA. Management highlighted key growth drivers, including a focus on expanding bed capacity through brownfield and greenfield projects, optimizing existing infrastructure, and leveraging technology. Financial highlights indicated a 15% year-over-year growth in gross revenue for Q1 FY27, with an operating EBITDA margin of 24.9%. The document also detailed the company's commitment to clinical excellence, research, and community service, alongside its strategic partnerships and digital initiatives. The presentation concluded with a focus on future growth potential and the importance of maintaining high standards in patient care.

Management emphasized growth opportunities and strong financial performance.

Sourced from an exchange-filed presentation, dated 17 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive29 May 2026
View source filing →

Key takeaway: Max Healthcare Institute Limited held its earnings conference call on May 22, 2026, to discuss financial results for Q4 and FY 2026. Management reported a 10% year-on-year revenue growth, with operating EBITDA increasing by 8%. They highlighted the phased commissioning of over 20% additional brownfield capacity across several hospitals and the acquisition of a controlling stake in Kalinga Hospital Limited, marking their entry into Eastern India. The company plans to invest INR 1,400 crore in a new 700-bed hospital in Lucknow. Key performance metrics included an average occupancy rate of over 75%, a 10% increase in gross revenue to INR 2,664 crore, and a profit after tax of INR 387 crore. Management noted a decline in oncology revenue share due to the discontinuation of certain chemotherapy drugs, while digital revenue accounted for 31% of overall revenue. The call concluded with management expressing confidence in ongoing expansion and operational efficiency.

Management emphasized growth and successful expansion initiatives.

Sourced from an exchange-filed transcript, dated 29 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive26 May 2026
View source filing →

Key takeaway: On May 26, 2026, Max Healthcare Institute Limited submitted an investor presentation in connection with the UBS Asian Investment Conference 2026. The presentation outlined the company's current capacity of over 6,000 beds and highlighted its position as India's second-largest hospital chain by revenue and EBITDA. Management reported a market capitalization of ₹1.0 lakh crore and a 36% CAGR in market cap from April 2021 to May 2026. The document detailed the company's vision to be a well-regarded healthcare provider, emphasizing clinical excellence and patient care. Key growth drivers included brownfield and greenfield expansions, strategic partnerships, and a focus on digital healthcare solutions. Financial highlights for FY26 included a 16% increase in net revenue to ₹10,065 crore and a profit after tax of ₹1,631 crore, reflecting a 22% year-on-year growth. The presentation also covered the company's commitment to ESG initiatives and community health programs.

Management emphasized strong growth and strategic initiatives in the presentation.

Sourced from an exchange-filed presentation, dated 26 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive20 Feb 2026
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Key takeaway: On February 20, 2026, Max Healthcare Institute Limited submitted an investor presentation for the upcoming Kotak Chasing Growth Conference scheduled for February 23, 2026. The presentation outlined the company's current capacity of over 5,200 beds across 20 healthcare facilities, emphasizing its position as India's largest hospital chain by market capitalization. Management highlighted key growth drivers, including a focus on expanding bed capacity through brownfield and greenfield projects, enhancing operational efficiencies, and leveraging technology. Financial highlights indicated a revenue growth of 19% year-over-year for 9M FY26, with a reported profit after tax of ₹1,244 crore, reflecting a 30% increase from the previous year. The presentation also detailed the company's commitment to clinical excellence, research, and community service, alongside its strategic partnerships and digital initiatives aimed at improving patient care and operational performance. The document concluded with a note on the company's governance and sustainability efforts.

Management emphasized growth and operational improvements throughout the presentation.

Sourced from an exchange-filed presentation, dated 20 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptNeutral12 Feb 2026
View source filing →

Key takeaway: Max Healthcare Institute Limited reported its Q3 and nine-month financial results for FY '26 during the earnings conference call held on February 6, 2026. Management noted that the Network achieved its 21st consecutive quarter of year-on-year growth, with revenue increasing by 10% and operating EBITDA growing by 4%. Despite challenges such as seasonal softness and disruptions in cashless services, overall occupancy rates remained strong. The company commissioned new brownfield beds, with significant occupancy already achieved. Management highlighted plans for geographic expansion, including a new 450-bed hospital in Pune by 2030. The call also addressed the impact of changes in CGHS pricing guidelines and the discontinuation of certain chemotherapy drugs on revenue. Free cash flow generation was reported at INR 281 crore, with ongoing capacity expansion projects funded by cash flows. The Network's gross revenue for the nine months reached INR 7,874 crore, reflecting a 19% year-on-year growth.

Management presented a balanced view of growth and challenges faced during the quarter.

Sourced from an exchange-filed transcript, dated 12 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive07 Feb 2026
View source filing →

Key takeaway: On February 7, 2026, Max Healthcare Institute Limited submitted an investor presentation detailing its participation in upcoming investor conferences scheduled for February 9 and February 23, 2026. The presentation outlined the company's market position as India's largest hospital chain by market capitalization and its commitment to clinical excellence and patient care. Key highlights included a current capacity of over 5,200 beds, a revenue CAGR of 24% over four years, and a focus on expanding bed capacity through brownfield and greenfield projects. The document also emphasized the company's strategic partnerships, research initiatives, and strong financial performance, including a reported EBITDA margin of 25.3% for 9M FY26. Additionally, the presentation addressed the company's commitment to corporate social responsibility and environmental sustainability.

The presentation highlighted strong growth metrics and strategic initiatives.

Sourced from an exchange-filed presentation, dated 07 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

AI Summary of Annual Report

AI-generated
FY2025-26321 pages

The annual report for Max Healthcare Institute Limited for FY 2025-26 outlines the company's commitment to advancing healthcare delivery through strategic expansion, technological innovation, and a focus on patient-centered care. Management highlighted the successful launch of new facilities and the integration of advanced medical technologies, including robotic systems, to enhance clinical outcomes. The report also emphasized the company's dedication to sustainability and corporate governance, reflecting its role as a leading healthcare provider in India.

  • Management emphasized strategic expansion in key markets
  • Focus on integrating advanced technologies in healthcare delivery
  • Commitment to sustainability and corporate governance
  • Investment in research and medical education to enhance clinical capabilities

Key takeaway: Max Healthcare's strategic vision centers on expanding access to quality healthcare while maintaining a strong commitment to patient care and sustainability.

The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.

Filed with NSE · 08 Jul 2026View source filing →

Governance disclosures

AI-generated

Needs attention

Regulatory Action (1 item); Default / Covenant Breach (1 item)

Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.

Regulatory Action

1 occurrence

Earlier (1-3 years ago)

Annual Report04 Jul 2025 (FY2024-25)
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The company faces risks of substantial penalties, legal proceedings, and possible revocation of operating permits due to non-compliance with hazardous and biomedical waste management regulations.

Default / Covenant Breach

1 occurrence

Recent (last 12 months)

Annual Report08 Jul 2026 (FY2025-26)· 2 passages
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The company has outstanding statutory dues for more than six months, including disputes under various tax acts, with amounts totaling INR 1,478.31 lakhs (approx. INR 147.83 million) as of March 31, 2026.

Routine disclosures

Contingent Liability

3 occurrences

Recent (last 12 months)

Annual Report08 Jul 2026 (FY2025-26)· 13 passages
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The company has provided corporate guarantees to financial institutions/banks for financial assistance availed by its subsidiaries and other healthcare service providers, amounting to 1,67,229 lakh as of March 31, 2026.

Earlier (1-3 years ago)

Annual Report04 Jul 2025 (FY2024-25)· 13 passages
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The company has certain claims and litigations assessed as contingent liabilities, which may affect its operations. Management expects a favorable outcome based on their assessment and legal advisors' advice.

Older (3+ years ago)

Annual Report04 Sept 2023 (FY2022-23)· 9 passages
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The company has certain claims and litigations assessed as contingent liabilities, which may affect its operations. Management expects a favourable outcome based on their assessment and legal advisors' advice.

Related-Party Transaction

3 occurrences

Recent (last 12 months)

Annual Report08 Jul 2026 (FY2025-26)· 2 passages
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Pine Labs Private Limited was a related party up to June 5, 2025, due to a common director with the Group. It ceased to be a related party from June 6, 2025, after converting to a public limited company and the common director's shareholding fell below the prescribed threshold.

Earlier (1-3 years ago)

Annual Report04 Jul 2025 (FY2024-25)· 3 passages
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The company has related party transactions with its subsidiaries, including ALPS Hospital Limited, ET Planners Private Limited, and others, as disclosed under Ind AS-24.

Older (3+ years ago)

Annual Report04 Sept 2023 (FY2022-23)· 2 passages
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The company provided a corporate guarantee of INR 27,616 lakhs on behalf of related parties as of March 31, 2022.

Statutory dues in dispute

2 occurrences

Earlier (1-3 years ago)

Annual Report04 Jul 2025 (FY2024-25)Disputed tax/statutory dues under appeal, not a loan default· 2 passages
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The company has pending disputes over Delhi Value Added Tax and Goods and Services Tax dues, with amounts unpaid as of March 31, 2025, under various periods from 2014-15 to 2017-18.

Older (3+ years ago)

Annual Report04 Sept 2023 (FY2022-23)Disputed tax/statutory dues under appeal, not a loan default
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The company has undisputed statutory dues in respect of Delhi Value Added Tax Act, 2004 for the periods 2014-15 to 2017-18, with amounts pending before the Department of Trade and Taxes, Government of NCT of Delhi.

Promoter Share Pledge

1 occurrence

Recent (last 12 months)

Structured Filing Data (NSE Pledge Disclosure)18 Jul 2026

1.15% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).

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