Max Healthcare Institute Ltd.
•₹ 1,0000.21%
2026-08-21
PROS
- Company is almost debt free
- Company has delivered good sales growth of 22.8% CAGR over last 5 years
- Company comfortably covers its interest (24.2x coverage)
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (32.7% of PBT)
- Recent results are weak - TTM profit is down 13.3% versus prior year
- Company has a low return on equity of 8.9% over last 3 years
- Company has a low return on capital employed of 11.4%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | APOLLOHOSP | 8720.00 | 60.00 | 125380.22 | 0.23 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| 2. | MAXHEALTH | 998.70 | 66.72 | 97201.12 | 0.20 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| 3. | MANIPALHOS | 724.25 | 106.76 | 95266.19 | 0.00 | 2434.30 | — | 30906.30 | — | 13.93 | 23.83 |
| 4. | FORTIS | 910.80 | 65.62 | 68761.59 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| 5. | ASTERDM | 761.40 | 208.26 | 66369.14 | 0.00 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.46 | 19.53 |
| 6. | MEDANTA | 1408.60 | 68.10 | 37873.28 | 0.04 | 157.25 | -1.09 | 1304.05 | 26.50 | 20.50 | 21.99 |
| 7. | NH | 1797.40 | 45.01 | 36731.81 | 0.25 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| 8. | KIMS | 790.00 | 162.41 | 33180.51 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| 9. | LALPATHLAB | 1888.50 | 58.49 | 31698.25 | 1.09 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| 10. | AGARWALEYE | 503.00 | 107.48 | 15946.42 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 14.32 | 27.75 |
| 11. | VIJAYA | 1497.20 | 82.25 | 15420.82 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.27 | 42.66 |
| 12. | RAINBOW | 1459.40 | 51.94 | 14822.64 | 0.24 | 62.54 | 16.23 | 469.99 | 33.17 | 28.25 | 28.65 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 544 | 597 | 591 | 610 | 621 | 686 | 697 | 659 | 694 | 737 | 711 | 733 | 783 | |
| 384 | 394 | 391 | 407 | 423 | 461 | 461 | 484 | 506 | 523 | 507 | 518 | 649 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 43 | 48 | 43 | 134 | 43 | 134 | 92 | 98 | 80 | 47 | 83 | 91 | 92 |
| Interest | 14 | 13 | 10 | 15 | 8 | 8 | 23 | 9 | 9 | 9 | 11 | 11 | 12 |
| Depreciation | 28 | 28 | 30 | 32 | 30 | 32 | 33 | 36 | 35 | 37 | 36 | 35 | 37 |
| 161 | 210 | 203 | 291 | 203 | 318 | 198 | 227 | 223 | 216 | 225 | 260 | 226 | |
| Tax % | 21.69% | 23.20% | 22.23% | 16.81% | 24.13% | 27.30% | 30.25% | 21.93% | 25.51% | 25.61% | 16.98% | 21.96% | 25.81% |
| Net Profit | 126 | 161 | 158 | 242 | 154 | 231 | 138 | 177 | 166 | 160 | 187 | 203 | 168 |
| 1 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 0 | |
| Equity Capital | 971 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 973 | 973 | 973 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 971 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 972 | 973 | 973 | 973 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 544
- 384
- Operating Profit
- —
- OPM %
- —
- Other Income
- 43
- Interest
- 14
- Depreciation
- 28
- 161
- Tax %
- 21.69%
- Net Profit
- 126
- 1
- Equity Capital
- 971
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 971
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 597
- 394
- Operating Profit
- —
- OPM %
- —
- Other Income
- 48
- Interest
- 13
- Depreciation
- 28
- 210
- Tax %
- 23.20%
- Net Profit
- 161
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 591
- 391
- Operating Profit
- —
- OPM %
- —
- Other Income
- 43
- Interest
- 10
- Depreciation
- 30
- 203
- Tax %
- 22.23%
- Net Profit
- 158
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 610
- 407
- Operating Profit
- —
- OPM %
- —
- Other Income
- 134
- Interest
- 15
- Depreciation
- 32
- 291
- Tax %
- 16.81%
- Net Profit
- 242
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 621
- 423
- Operating Profit
- —
- OPM %
- —
- Other Income
- 43
- Interest
- 8
- Depreciation
- 30
- 203
- Tax %
- 24.13%
- Net Profit
- 154
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 686
- 461
- Operating Profit
- —
- OPM %
- —
- Other Income
- 134
- Interest
- 8
- Depreciation
- 32
- 318
- Tax %
- 27.30%
- Net Profit
- 231
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 697
- 461
- Operating Profit
- —
- OPM %
- —
- Other Income
- 92
- Interest
- 23
- Depreciation
- 33
- 198
- Tax %
- 30.25%
- Net Profit
- 138
- 1
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 659
- 484
- Operating Profit
- —
- OPM %
- —
- Other Income
- 98
- Interest
- 9
- Depreciation
- 36
- 227
- Tax %
- 21.93%
- Net Profit
- 177
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 694
- 506
- Operating Profit
- —
- OPM %
- —
- Other Income
- 80
- Interest
- 9
- Depreciation
- 35
- 223
- Tax %
- 25.51%
- Net Profit
- 166
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 737
- 523
- Operating Profit
- —
- OPM %
- —
- Other Income
- 47
- Interest
- 9
- Depreciation
- 37
- 216
- Tax %
- 25.61%
- Net Profit
- 160
- 2
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 972
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 711
- 507
- Operating Profit
- —
- OPM %
- —
- Other Income
- 83
- Interest
- 11
- Depreciation
- 36
- 225
- Tax %
- 16.98%
- Net Profit
- 187
- 2
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 733
- 518
- Operating Profit
- —
- OPM %
- —
- Other Income
- 91
- Interest
- 11
- Depreciation
- 35
- 260
- Tax %
- 21.96%
- Net Profit
- 203
- 2
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 783
- 649
- Operating Profit
- —
- OPM %
- —
- Other Income
- 92
- Interest
- 12
- Depreciation
- 37
- 226
- Tax %
- 25.81%
- Net Profit
- 168
- 0
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 973
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,010 | 1,059 | 1,008 | 59 | 1,031 | 1,775 | 1,905 | 2,341 | 2,664 | 2,874 | 2,963 | |
| 968 | 1,050 | 974 | 65 | 870 | 1,340 | 1,322 | 1,582 | 1,831 | 2,054 | 2,197 | |
| Operating Profit | 80 | 55 | 83 | 60 | 267 | 571 | 728 | 1,033 | 1,200 | 1,123 | — |
| OPM % | 8 | 5 | 8 | 102 | 26 | 32 | 38 | 44 | 45 | 39 | — |
| Other Income | 38 | 45 | 49 | 66 | 107 | 136 | 145 | 274 | 368 | 302 | 314 |
| Interest | 35 | 41 | 44 | 60 | 112 | 59 | 52 | 52 | 48 | 40 | 43 |
| Depreciation | 51 | 49 | 53 | 3 | 91 | 112 | 113 | 117 | 131 | 143 | 144 |
| -6 | -35 | -14 | -3 | -146 | 400 | 563 | 865 | 947 | 924 | 927 | |
| Tax % | 0 | 0 | -34 | 5 | -12 | 17 | -23 | 21 | 26 | 22 | 23 |
| Net Profit | -6 | -35 | -19 | -3 | -164 | 332 | 694 | 687 | 701 | 717 | 718 |
| EPS | 0 | -1 | -0 | -0 | -2 | 3 | 7 | 7 | 7 | 7 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 21 | 21 | 27 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -0 | -1 | -0 | -0 | -2 | 3 | 7 | 7 | 7 | 7 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -0 | -1 | -0 | -0 | -2 | 3 | 7 | 7 | 7 | 7 | — |
Mar 2017
- 1,010
- 968
- Operating Profit
- 80
- OPM %
- 8
- Other Income
- 38
- Interest
- 35
- Depreciation
- 51
- -6
- Tax %
- 0
- Net Profit
- -6
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2018
- 1,059
- 1,050
- Operating Profit
- 55
- OPM %
- 5
- Other Income
- 45
- Interest
- 41
- Depreciation
- 49
- -35
- Tax %
- 0
- Net Profit
- -35
- EPS
- -1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2019
- 1,008
- 974
- Operating Profit
- 83
- OPM %
- 8
- Other Income
- 49
- Interest
- 44
- Depreciation
- 53
- -14
- Tax %
- -34
- Net Profit
- -19
- EPS
- -0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2020
- 59
- 65
- Operating Profit
- 60
- OPM %
- 102
- Other Income
- 66
- Interest
- 60
- Depreciation
- 3
- -3
- Tax %
- 5
- Net Profit
- -3
- EPS
- -0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2021
- 1,031
- 870
- Operating Profit
- 267
- OPM %
- 26
- Other Income
- 107
- Interest
- 112
- Depreciation
- 91
- -146
- Tax %
- -12
- Net Profit
- -164
- EPS
- -2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
Mar 2022
- 1,775
- 1,340
- Operating Profit
- 571
- OPM %
- 32
- Other Income
- 136
- Interest
- 59
- Depreciation
- 112
- 400
- Tax %
- 17
- Net Profit
- 332
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2023
- 1,905
- 1,322
- Operating Profit
- 728
- OPM %
- 38
- Other Income
- 145
- Interest
- 52
- Depreciation
- 113
- 563
- Tax %
- -23
- Net Profit
- 694
- EPS
- 7
- Dividend Payout %
- 14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2024
- 2,341
- 1,582
- Operating Profit
- 1,033
- OPM %
- 44
- Other Income
- 274
- Interest
- 52
- Depreciation
- 117
- 865
- Tax %
- 21
- Net Profit
- 687
- EPS
- 7
- Dividend Payout %
- 21
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2025
- 2,664
- 1,831
- Operating Profit
- 1,200
- OPM %
- 45
- Other Income
- 368
- Interest
- 48
- Depreciation
- 131
- 947
- Tax %
- 26
- Net Profit
- 701
- EPS
- 7
- Dividend Payout %
- 21
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2026
- 2,874
- 2,054
- Operating Profit
- 1,123
- OPM %
- 39
- Other Income
- 302
- Interest
- 40
- Depreciation
- 143
- 924
- Tax %
- 22
- Net Profit
- 717
- EPS
- 7
- Dividend Payout %
- 27
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
TTM
- 2,963
- 2,197
- Operating Profit
- —
- OPM %
- —
- Other Income
- 314
- Interest
- 43
- Depreciation
- 144
- 927
- Tax %
- 23
- Net Profit
- 718
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 23%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 1%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 25%
- 3 Years:
- 21%
- 1 Year:
- -20%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 9%
- 3 Years:
- 9%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 537 | 537 | 537 | 537 | 966 | 970 | 971 | 972 | 972 | 973 |
| 800 | 773 | 749 | 2,338 | 4,947 | 5,320 | 6,030 | 6,641 | 7,198 | 7,821 | |
| 71 | 75 | 64 | 658 | 18 | 24 | 21 | 25 | 22 | 38 | |
| Trade Payables | 160 | 198 | 208 | 14 | 193 | 195 | 220 | 247 | 275 | 288 |
| 304 | 388 | 394 | 6 | 1,019 | 1,304 | 1,179 | 1,183 | 1,501 | 1,770 | |
| Total Liabilities | 1,873 | 1,972 | 1,951 | 3,553 | 7,143 | 7,812 | 8,420 | 9,069 | 9,967 | 10,890 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 466 | 502 | 479 | 90 | 2,989 | 4,493 | 4,485 | 4,717 | 4,866 | 4,904 | |
| Capital Work in Progress | 29 | 4 | 9 | 0 | 8 | 14 | 57 | 129 | 240 | 479 |
| 769 | 799 | 770 | 2,471 | 2,379 | 1,447 | 1,475 | 1,915 | 2,614 | 2,626 | |
| 14 | 18 | 15 | 0 | 21 | 25 | 30 | 29 | 30 | 31 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 205 | 295 | 417 | |
| Cash & Bank | 5 | 4 | 4 | 66 | 611 | 387 | 1,231 | 720 | 416 | 533 |
| 590 | 645 | 674 | 926 | 1,134 | 1,446 | 1,143 | 1,355 | 1,505 | 1,901 | |
| Total Assets | 1,873 | 1,972 | 1,951 | 3,553 | 7,143 | 7,812 | 8,420 | 9,069 | 9,967 | 10,890 |
| Total Debt | 314 | 386 | 390 | 658 | 335 | 410 | 452 | 341 | 502 | 693 |
| Net Working Capital | -35 | -53 | 42 | 2,122 | 687 | 413 | 995 | 515 | 252 | 404 |
| Contingent Liabilities | 875 | 916 | 87 | 62 | 851 | 756 | 493 | 1,101 | 2,013 | 2,306 |
| Book Value per Share | 24.90 | 24.39 | 23.95 | 53.52 | 61.21 | 64.86 | 72.10 | 78.33 | 84.04 | 90.37 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 314 | 386 | 390 | 658 | 335 | 410 | 452 | 341 | 502 | 693 |
| Net Working Capital | -35 | -53 | 42 | 2,122 | 687 | 413 | 995 | 515 | 252 | 404 |
| Contingent Liabilities | 875 | 916 | 87 | 62 | 851 | 756 | 493 | 1,101 | 2,013 | 2,306 |
| Book Value per Share | 24.90 | 24.39 | 23.95 | 53.52 | 61.21 | 64.86 | 72.10 | 78.33 | 84.04 | 90.37 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 537
- 800
- 71
- Trade Payables
- 160
- 304
- Total Liabilities
- 1,873
- 466
- Capital Work in Progress
- 29
- 769
- 14
- 0
- Cash & Bank
- 5
- 590
- Total Assets
- 1,873
- Total Debt
- 314
- Net Working Capital
- -35
- Contingent Liabilities
- 875
- Book Value per Share
- 24.90
- Face Value
- 10.00
- Total Debt
- 314
- Net Working Capital
- -35
- Contingent Liabilities
- 875
- Book Value per Share
- 24.90
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 537
- 773
- 75
- Trade Payables
- 198
- 388
- Total Liabilities
- 1,972
- 502
- Capital Work in Progress
- 4
- 799
- 18
- 0
- Cash & Bank
- 4
- 645
- Total Assets
- 1,972
- Total Debt
- 386
- Net Working Capital
- -53
- Contingent Liabilities
- 916
- Book Value per Share
- 24.39
- Face Value
- 10.00
- Total Debt
- 386
- Net Working Capital
- -53
- Contingent Liabilities
- 916
- Book Value per Share
- 24.39
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 537
- 749
- 64
- Trade Payables
- 208
- 394
- Total Liabilities
- 1,951
- 479
- Capital Work in Progress
- 9
- 770
- 15
- 0
- Cash & Bank
- 4
- 674
- Total Assets
- 1,951
- Total Debt
- 390
- Net Working Capital
- 42
- Contingent Liabilities
- 87
- Book Value per Share
- 23.95
- Face Value
- 10.00
- Total Debt
- 390
- Net Working Capital
- 42
- Contingent Liabilities
- 87
- Book Value per Share
- 23.95
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 537
- 2,338
- 658
- Trade Payables
- 14
- 6
- Total Liabilities
- 3,553
- 90
- Capital Work in Progress
- 0
- 2,471
- 0
- 0
- Cash & Bank
- 66
- 926
- Total Assets
- 3,553
- Total Debt
- 658
- Net Working Capital
- 2,122
- Contingent Liabilities
- 62
- Book Value per Share
- 53.52
- Face Value
- 10.00
- Total Debt
- 658
- Net Working Capital
- 2,122
- Contingent Liabilities
- 62
- Book Value per Share
- 53.52
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 966
- 4,947
- 18
- Trade Payables
- 193
- 1,019
- Total Liabilities
- 7,143
- 2,989
- Capital Work in Progress
- 8
- 2,379
- 21
- 0
- Cash & Bank
- 611
- 1,134
- Total Assets
- 7,143
- Total Debt
- 335
- Net Working Capital
- 687
- Contingent Liabilities
- 851
- Book Value per Share
- 61.21
- Face Value
- 10.00
- Total Debt
- 335
- Net Working Capital
- 687
- Contingent Liabilities
- 851
- Book Value per Share
- 61.21
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 970
- 5,320
- 24
- Trade Payables
- 195
- 1,304
- Total Liabilities
- 7,812
- 4,493
- Capital Work in Progress
- 14
- 1,447
- 25
- 0
- Cash & Bank
- 387
- 1,446
- Total Assets
- 7,812
- Total Debt
- 410
- Net Working Capital
- 413
- Contingent Liabilities
- 756
- Book Value per Share
- 64.86
- Face Value
- 10.00
- Total Debt
- 410
- Net Working Capital
- 413
- Contingent Liabilities
- 756
- Book Value per Share
- 64.86
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 971
- 6,030
- 21
- Trade Payables
- 220
- 1,179
- Total Liabilities
- 8,420
- 4,485
- Capital Work in Progress
- 57
- 1,475
- 30
- 0
- Cash & Bank
- 1,231
- 1,143
- Total Assets
- 8,420
- Total Debt
- 452
- Net Working Capital
- 995
- Contingent Liabilities
- 493
- Book Value per Share
- 72.10
- Face Value
- 10.00
- Total Debt
- 452
- Net Working Capital
- 995
- Contingent Liabilities
- 493
- Book Value per Share
- 72.10
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 972
- 6,641
- 25
- Trade Payables
- 247
- 1,183
- Total Liabilities
- 9,069
- 4,717
- Capital Work in Progress
- 129
- 1,915
- 29
- 205
- Cash & Bank
- 720
- 1,355
- Total Assets
- 9,069
- Total Debt
- 341
- Net Working Capital
- 515
- Contingent Liabilities
- 1,101
- Book Value per Share
- 78.33
- Face Value
- 10.00
- Total Debt
- 341
- Net Working Capital
- 515
- Contingent Liabilities
- 1,101
- Book Value per Share
- 78.33
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 972
- 7,198
- 22
- Trade Payables
- 275
- 1,501
- Total Liabilities
- 9,967
- 4,866
- Capital Work in Progress
- 240
- 2,614
- 30
- 295
- Cash & Bank
- 416
- 1,505
- Total Assets
- 9,967
- Total Debt
- 502
- Net Working Capital
- 252
- Contingent Liabilities
- 2,013
- Book Value per Share
- 84.04
- Face Value
- 10.00
- Total Debt
- 502
- Net Working Capital
- 252
- Contingent Liabilities
- 2,013
- Book Value per Share
- 84.04
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 973
- 7,821
- 38
- Trade Payables
- 288
- 1,770
- Total Liabilities
- 10,890
- 4,904
- Capital Work in Progress
- 479
- 2,626
- 31
- 417
- Cash & Bank
- 533
- 1,901
- Total Assets
- 10,890
- Total Debt
- 693
- Net Working Capital
- 404
- Contingent Liabilities
- 2,306
- Book Value per Share
- 90.37
- Face Value
- 10.00
- Total Debt
- 693
- Net Working Capital
- 404
- Contingent Liabilities
- 2,306
- Book Value per Share
- 90.37
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 52 | -19 | -36 | 224 | 447 | 696 | 613 | 594 | 503 | |
| Cash from Investing | -66 | -89 | 55 | -2,536 | -366 | -670 | 302 | -806 | -870 | -426 |
| Cash from Financing | 34 | 36 | -36 | 2,332 | 412 | -161 | -54 | -246 | -28 | 39 |
| 0 | -0 | -0 | -240 | 271 | -384 | 944 | -439 | -304 | 116 | |
| Free Cash Flow | -88 | 18 | -48 | -36 | -2,758 | -1,194 | 555 | 223 | 217 | 112 |
| OCF / Net Profit | -5.68 | -1.49 | 1.02 | 12.20 | -1.36 | 1.35 | 1.00 | 0.89 | 0.85 | 0.70 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -2,912 | -4,018 | -3,481 | -3,210 | -2,956 | -87 |
| OCF / Net Profit | -5.68 | -1.49 | 1.02 | 12.20 | -1.36 | 1.35 | 1.00 | 0.89 | 0.85 | 0.70 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -2,912 | -4,018 | -3,481 | -3,210 | -2,956 | -87 |
Mar 2017
- 33
- Cash from Investing
- -66
- Cash from Financing
- 34
- 0
- Free Cash Flow
- -88
- OCF / Net Profit
- -5.68
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -5.68
- Cumulative 5-Year FCF
- 0
Mar 2018
- 52
- Cash from Investing
- -89
- Cash from Financing
- 36
- -0
- Free Cash Flow
- 18
- OCF / Net Profit
- -1.49
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.49
- Cumulative 5-Year FCF
- 0
Mar 2019
- -19
- Cash from Investing
- 55
- Cash from Financing
- -36
- -0
- Free Cash Flow
- -48
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
Mar 2020
- -36
- Cash from Investing
- -2,536
- Cash from Financing
- 2,332
- -240
- Free Cash Flow
- -36
- OCF / Net Profit
- 12.20
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 12.20
- Cumulative 5-Year FCF
- 0
Mar 2021
- 224
- Cash from Investing
- -366
- Cash from Financing
- 412
- 271
- Free Cash Flow
- -2,758
- OCF / Net Profit
- -1.36
- Cumulative 5-Year FCF
- -2,912
- OCF / Net Profit
- -1.36
- Cumulative 5-Year FCF
- -2,912
Mar 2022
- 447
- Cash from Investing
- -670
- Cash from Financing
- -161
- -384
- Free Cash Flow
- -1,194
- OCF / Net Profit
- 1.35
- Cumulative 5-Year FCF
- -4,018
- OCF / Net Profit
- 1.35
- Cumulative 5-Year FCF
- -4,018
Mar 2023
- 696
- Cash from Investing
- 302
- Cash from Financing
- -54
- 944
- Free Cash Flow
- 555
- OCF / Net Profit
- 1.00
- Cumulative 5-Year FCF
- -3,481
- OCF / Net Profit
- 1.00
- Cumulative 5-Year FCF
- -3,481
Mar 2024
- 613
- Cash from Investing
- -806
- Cash from Financing
- -246
- -439
- Free Cash Flow
- 223
- OCF / Net Profit
- 0.89
- Cumulative 5-Year FCF
- -3,210
- OCF / Net Profit
- 0.89
- Cumulative 5-Year FCF
- -3,210
Mar 2025
- 594
- Cash from Investing
- -870
- Cash from Financing
- -28
- -304
- Free Cash Flow
- 217
- OCF / Net Profit
- 0.85
- Cumulative 5-Year FCF
- -2,956
- OCF / Net Profit
- 0.85
- Cumulative 5-Year FCF
- -2,956
Mar 2026
- 503
- Cash from Investing
- -426
- Cash from Financing
- 39
- 116
- Free Cash Flow
- 112
- OCF / Net Profit
- 0.70
- Cumulative 5-Year FCF
- -87
- OCF / Net Profit
- 0.70
- Cumulative 5-Year FCF
- -87
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | -0.11 | -0.65 | -0.35 | -0.06 | -1.70 | 3.42 | 7.15 | 7.07 | 7.21 | 7.36 |
| Book Value (₹) | 24.90 | 24.39 | 23.95 | 53.52 | 61.21 | 64.86 | 72.10 | 78.33 | 84.04 | 90.37 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.50 | 1.50 | 2.00 |
| Cash EPS (₹) | 0.84 | 0.26 | 0.64 | 0.01 | -0.76 | 4.57 | 8.32 | 8.27 | 8.56 | 8.83 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 7.94% | 5.16% | 8.20% | 101.65% | 25.94% | 32.18% | 38.24% | 32.43% | 31.25% | 28.53% |
| Net Margin % | -0.57% | -3.30% | -1.86% | -4.99% | -15.95% | 18.67% | 36.45% | 29.35% | 26.32% | 24.93% |
| ROE % | -0.44% | -2.64% | -1.44% | -0.14% | -3.74% | 5.43% | 10.45% | 9.41% | 8.88% | 8.45% |
| ROCE % | 1.82% | 0.35% | 1.75% | 2.18% | -0.69% | 7.07% | 8.65% | 11.82% | 11.84% | 10.46% |
| -0.32% | -1.82% | -0.95% | -0.11% | -3.08% | 4.43% | 8.55% | 7.86% | 7.37% | 6.87% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 52 | 67 | 91 | 1137 | 69 | 59 | 39 | 27 | 34 | 45 |
| Inventory Days | 5 | 5 | 6 | 0 | 8 | 5 | 5 | 5 | 4 | 4 |
| Payable Days | 180 | 227 | 325 | 0 | 154 | 160 | 217 | 198 | 176 | 161 |
| -123 | -155 | -228 | 1137 | -77 | -96 | -172 | -166 | -138 | -112 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.23x | 0.29x | 0.30x | 0.23x | 0.06x | 0.07x | 0.06x | 0.04x | 0.06x | 0.08x |
| Interest Coverage (x) | 0.83x | 0.14x | 0.68x | 0.95x | -0.30x | 7.80x | 11.85x | 17.74x | 20.56x | 24.18x |
| 0.87x | 0.84x | 1.13x | 4.15x | 3.50x | 2.38x | 3.26x | 2.01x | 1.44x | 1.61x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 10.70% | 4.84% | -4.84% | -94.12% | 1639.42% | 72.23% | 7.28% | 22.93% | 13.76% | 7.92% |
| Operating Profit Growth % | 40.46% | -31.79% | 51.04% | -27.06% | 343.91% | 113.67% | 27.46% | 41.88% | 16.13% | -6.45% |
| Net Profit Growth % | 75.37% | -501.72% | 46.39% | 84.18% | -5455.74% | 301.59% | 109.43% | -1.02% | 2.01% | 2.22% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -1.12% | 1.99% | 2.11% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 116.02x | 152.07x | 130.59x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.47x | 13.05x | 10.64x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.18% | 0.14% | 0.21% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 76.80x | 88.92x | 83.51x |
Mar 2017
- EPS (₹)
- -0.11
- Book Value (₹)
- 24.90
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.84
- Operating Margin %
- 7.94%
- Net Margin %
- -0.57%
- ROE %
- -0.44%
- ROCE %
- 1.82%
- -0.32%
- Debtor Days
- 52
- Inventory Days
- 5
- Payable Days
- 180
- -123
- Debt to Equity (x)
- 0.23x
- Interest Coverage (x)
- 0.83x
- 0.87x
- Revenue Growth %
- 10.70%
- Operating Profit Growth %
- 40.46%
- Net Profit Growth %
- 75.37%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -0.65
- Book Value (₹)
- 24.39
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.26
- Operating Margin %
- 5.16%
- Net Margin %
- -3.30%
- ROE %
- -2.64%
- ROCE %
- 0.35%
- -1.82%
- Debtor Days
- 67
- Inventory Days
- 5
- Payable Days
- 227
- -155
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 0.14x
- 0.84x
- Revenue Growth %
- 4.84%
- Operating Profit Growth %
- -31.79%
- Net Profit Growth %
- -501.72%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -0.35
- Book Value (₹)
- 23.95
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.64
- Operating Margin %
- 8.20%
- Net Margin %
- -1.86%
- ROE %
- -1.44%
- ROCE %
- 1.75%
- -0.95%
- Debtor Days
- 91
- Inventory Days
- 6
- Payable Days
- 325
- -228
- Debt to Equity (x)
- 0.30x
- Interest Coverage (x)
- 0.68x
- 1.13x
- Revenue Growth %
- -4.84%
- Operating Profit Growth %
- 51.04%
- Net Profit Growth %
- 46.39%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -0.06
- Book Value (₹)
- 53.52
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.01
- Operating Margin %
- 101.65%
- Net Margin %
- -4.99%
- ROE %
- -0.14%
- ROCE %
- 2.18%
- -0.11%
- Debtor Days
- 1137
- Inventory Days
- 0
- Payable Days
- 0
- 1137
- Debt to Equity (x)
- 0.23x
- Interest Coverage (x)
- 0.95x
- 4.15x
- Revenue Growth %
- -94.12%
- Operating Profit Growth %
- -27.06%
- Net Profit Growth %
- 84.18%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- -1.70
- Book Value (₹)
- 61.21
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.76
- Operating Margin %
- 25.94%
- Net Margin %
- -15.95%
- ROE %
- -3.74%
- ROCE %
- -0.69%
- -3.08%
- Debtor Days
- 69
- Inventory Days
- 8
- Payable Days
- 154
- -77
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- -0.30x
- 3.50x
- Revenue Growth %
- 1639.42%
- Operating Profit Growth %
- 343.91%
- Net Profit Growth %
- -5455.74%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 3.42
- Book Value (₹)
- 64.86
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.57
- Operating Margin %
- 32.18%
- Net Margin %
- 18.67%
- ROE %
- 5.43%
- ROCE %
- 7.07%
- 4.43%
- Debtor Days
- 59
- Inventory Days
- 5
- Payable Days
- 160
- -96
- Debt to Equity (x)
- 0.07x
- Interest Coverage (x)
- 7.80x
- 2.38x
- Revenue Growth %
- 72.23%
- Operating Profit Growth %
- 113.67%
- Net Profit Growth %
- 301.59%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 7.15
- Book Value (₹)
- 72.10
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 8.32
- Operating Margin %
- 38.24%
- Net Margin %
- 36.45%
- ROE %
- 10.45%
- ROCE %
- 8.65%
- 8.55%
- Debtor Days
- 39
- Inventory Days
- 5
- Payable Days
- 217
- -172
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 11.85x
- 3.26x
- Revenue Growth %
- 7.28%
- Operating Profit Growth %
- 27.46%
- Net Profit Growth %
- 109.43%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 7.07
- Book Value (₹)
- 78.33
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 8.27
- Operating Margin %
- 32.43%
- Net Margin %
- 29.35%
- ROE %
- 9.41%
- ROCE %
- 11.82%
- 7.86%
- Debtor Days
- 27
- Inventory Days
- 5
- Payable Days
- 198
- -166
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- 17.74x
- 2.01x
- Revenue Growth %
- 22.93%
- Operating Profit Growth %
- 41.88%
- Net Profit Growth %
- -1.02%
- -1.12%
- P/E (x)
- 116.02x
- P/B (x)
- 10.47x
- Dividend Yield %
- 0.18%
- 76.80x
Mar 2025
- EPS (₹)
- 7.21
- Book Value (₹)
- 84.04
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 8.56
- Operating Margin %
- 31.25%
- Net Margin %
- 26.32%
- ROE %
- 8.88%
- ROCE %
- 11.84%
- 7.37%
- Debtor Days
- 34
- Inventory Days
- 4
- Payable Days
- 176
- -138
- Debt to Equity (x)
- 0.06x
- Interest Coverage (x)
- 20.56x
- 1.44x
- Revenue Growth %
- 13.76%
- Operating Profit Growth %
- 16.13%
- Net Profit Growth %
- 2.01%
- 1.99%
- P/E (x)
- 152.07x
- P/B (x)
- 13.05x
- Dividend Yield %
- 0.14%
- 88.92x
Mar 2026
- EPS (₹)
- 7.36
- Book Value (₹)
- 90.37
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 8.83
- Operating Margin %
- 28.53%
- Net Margin %
- 24.93%
- ROE %
- 8.45%
- ROCE %
- 10.46%
- 6.87%
- Debtor Days
- 45
- Inventory Days
- 4
- Payable Days
- 161
- -112
- Debt to Equity (x)
- 0.08x
- Interest Coverage (x)
- 24.18x
- 1.61x
- Revenue Growth %
- 7.92%
- Operating Profit Growth %
- -6.45%
- Net Profit Growth %
- 2.22%
- 2.11%
- P/E (x)
- 130.59x
- P/B (x)
- 10.64x
- Dividend Yield %
- 0.21%
- 83.51x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-20 - Max Healthcare Institute Limited has informed the Exchange about transcript of Earnings Call held on August 14, 2026
- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-19 - Max Healthcare Institute Limited has informed the Exchange about disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Annual Reports
Credit Ratings
- Credit Rating
2025-10-02 - Max Healthcare Institute Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026