Max Healthcare Institute Limited is a major player in the healthcare sector, operating clinics, hospitals, and specialized medical services. Healthcare is vitally important both in India and globally. In India, with its large population and diverse health needs, quality healthcare is essential. On a global scale, the healthcare industry addresses health issues worldwide. Max Healthcare is well-positioned for growth due to its significant role in this critical sector.
Given Max Healthcare’s key role in the expanding healthcare industry, it has strong potential for growth and could see its stock prices rise. This suggests that Max Healthcare might be a robust contender in the stock market. However, it’s important to remember that predicting market outcomes is never certain, and it’s crucial to monitor the company’s performance in the market.
About Max Healthcare
Max Healthcare Institute Limited is a leading healthcare provider in India, offering a wide array of services through its network of primary care clinics, multi-speciality hospitals, and super-speciality hospitals. As the second-largest hospital chain in India, Max Healthcare stands out in terms of revenue, EBITDA, and market capitalization.
The company is renowned for performing complex medical procedures, including transplants, robotic surgeries, cardiac interventions, neurosurgeries, orthopedic procedures, and oncology surgeries. Max Healthcare utilizes advanced infrastructure and state-of-the-art technologies, such as Ortho & Spine Robots, Radixact Tomo Therapy, TrueBeam Stx LINAC, Da Vinci Xi Robot, 3.0 Tesla MRI, and Digital PET CT.
Max Healthcare’s reach extends through Max Lab, a non-captive pathology unit, and Max@Home, which provides quality healthcare services directly to patients at home. The proprietary digital platform, Max MyHealth, enhances the accessibility of clinical services. Operating 17 facilities with a total capacity of approximately 3,530 beds, Max Healthcare maintains an impressive 75% occupancy rate in H1FY24.
Internationally, Max Healthcare has expanded its presence by establishing ‘Truemax Healthcare’ in Nairobi, Kenya, to promote its brand globally. The company’s commitment to healthcare excellence is further demonstrated through strategic research collaborations and a strong subsidiary portfolio, including the recent acquisition of Sahara Hospital in Lucknow.
Max Healthcare Q4 FY 24 Performance Overview
- Net Profit: Max Healthcare’s Q4 net profit declined by 3%, falling to ₹320 crore from the same quarter the previous year.
- Net Revenue: The net revenue saw a nearly 16% increase, reaching ₹1,800 crore, up from ₹1,551 crore in the year-ago period.
- EBITDA: EBITDA for the quarter was ₹503 crore, with a margin of 27.9%, slightly lower than the 28.2% recorded in the previous year.
- Operational Performance: Showed improvement during the January-March period, despite a slight decline in EBITDA margin.
- Inorganic Growth: Completed two significant acquisitions during the quarter, adding new capacity and brownfield opportunities in Uttar Pradesh and Maharashtra.
- Existing Network Performance: Continued to improve, generating stable cash flows.
- Bed Occupancy: Bed occupancy for Q4 FY24 was at 75.1%, limited by capacity constraints.
- Max Lab: Reported gross revenue of ₹39 crore, marking a 26% year-on-year and 15% quarter-on-quarter increase.
- Max@Home: Achieved gross revenue of ₹46 crore, up 25% year-on-year and 3% quarter-on-quarter, driven by growth in the critical care and physio & rehab sectors.
- ARPOB (Average Revenue Per Occupied Bed): Increased to ₹78.1k in Q4 FY24 from ₹70.7k in Q4 FY23 and ₹76.8k in Q3 FY24. New hospitals reported an ARPOB of ₹46.1k.
- Geographic Focus: Primarily operates in the Delhi-NCR and Mumbai regions, with most of its beds located in Tier-I cities.
- Revenue Mix: Diversified across multiple specialties, contributing to overall revenue growth.
- Digital Initiatives: Continued investment in digital platforms and telemedicine services to enhance patient care and operational efficiency.
- Patient Footfall: Recorded an increase in both inpatient and outpatient footfall, reflecting strong demand for healthcare services.
- Strategic Partnerships: Entered new partnerships to expand service offerings and enhance clinical capabilities.
- Research and Development: Ongoing investment in R&D to introduce innovative treatments and technologies.
- Employee Strength: Maintained a robust workforce, with ongoing training and development programs to enhance skill sets.
- Sustainability Initiatives: Implemented several sustainability measures to reduce environmental impact and improve energy efficiency across facilities.
| When | Maximum Price | Minimum Price |
| May 2024 | 824.60 | 717.05 |
| June 2024 | 854.29 | 742.86 |
| July 2024 | 845.75 | 735.43 |
| August 2024 | 879.58 | 764.85 |
| September 2024 | 914.76 | 795.44 |
| October 2024 | 896.82 | 779.85 |
| November 2024 | 932.70 | 811.04 |
| December 2024 | 942.02 | 819.15 |
In 2024, Max Healthcare Institute’s share prices are expected to rise steadily. In May, the maximum price is projected to be ₹824.60 and the minimum ₹717.05. By June, prices are expected to reach ₹854.29 and ₹742.86. July’s projections are ₹845.75 and ₹735.43, and August sees an increase to ₹879.58 and ₹764.85. In September, the maximum price is anticipated to be ₹914.76 and the minimum ₹795.44. October’s prices are slightly lower at ₹896.82 and ₹779.85. November’s prices are expected to be ₹932.70 and ₹811.04, and by December, the maximum price is projected to reach ₹942.02 with a minimum of ₹819.15.
| When | Maximum Price | Minimum Price |
| January 2025 | 951.44 | 731.88 |
| February 2025 | 961.05 | 739.27 |
| March 2025 | 981.24 | 754.80 |
| April 2025 | 971.52 | 747.32 |
| May 2025 | 943.22 | 725.56 |
| June 2025 | 985.67 | 758.21 |
| July 2025 | 966.34 | 743.34 |
| August 2025 | 996.23 | 766.33 |
| September 2025 | 1,008.18 | 775.53 |
| October 2025 | 1,034.40 | 795.69 |
| November 2025 | 1,060.26 | 815.58 |
| December 2025 | 1,107.97 | 852.28 |
In 2025, Max Healthcare Institute’s shares are projected to rise steadily. Starting at ₹951.44 (max) and ₹731.88 (min) in January, prices are expected to gradually climb to ₹1,107.97 (max) and ₹852.28 (min) by December. Along the way, fluctuations are anticipated, with highs and lows in each month, reflecting market dynamics.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,141.21 | 877.85 |
| February 2026 | 1,112.68 | 855.91 |
| March 2026 | 1,134.93 | 873.02 |
| April 2026 | 1,158.09 | 890.84 |
| May 2026 | 1,146.63 | 882.02 |
| June 2026 | 1,175.29 | 904.07 |
| July 2026 | 1,152.25 | 886.34 |
| August 2026 | 1,187.88 | 913.76 |
| September 2026 | 1,211.64 | 932.03 |
| October 2026 | 1,243.14 | 956.26 |
| November 2026 | 1,274.22 | 980.17 |
| December 2026 | 1,306.08 | 1,004.68 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,319.14 | 1,014.72 |
| February 2027 | 1,352.96 | 1,040.74 |
| March 2027 | 1,405.73 | 1,081.33 |
| April 2027 | 1,378.17 | 1,060.13 |
| May 2027 | 1,338.02 | 1,029.25 |
| June 2027 | 1,398.24 | 1,075.57 |
| July 2027 | 1,370.82 | 1,054.48 |
| August 2027 | 1,413.22 | 1,087.09 |
| September 2027 | 1,462.68 | 1,125.14 |
| October 2027 | 1,500.71 | 1,154.39 |
| November 2027 | 1,538.23 | 1,183.25 |
| December 2027 | 1,576.68 | 1,212.83 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,608.21 | 1,237.09 |
| February 2028 | 1,649.45 | 1,268.81 |
| March 2028 | 1,713.78 | 1,318.29 |
| April 2028 | 1,680.18 | 1,292.44 |
| May 2028 | 1,631.24 | 1,254.80 |
| June 2028 | 1,704.64 | 1,311.27 |
| July 2028 | 1,671.22 | 1,285.55 |
| August 2028 | 1,722.91 | 1,325.31 |
| September 2028 | 1,783.21 | 1,371.70 |
| October 2028 | 1,829.57 | 1,407.36 |
| November 2028 | 1,875.31 | 1,442.55 |
| December 2028 | 1,922.19 | 1,478.61 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,960.64 | 1,508.18 |
| February 2029 | 2,010.91 | 1,546.85 |
| March 2029 | 2,089.34 | 1,607.18 |
| April 2029 | 2,048.37 | 1,575.67 |
| May 2029 | 1,988.71 | 1,529.78 |
| June 2029 | 2,078.20 | 1,598.62 |
| July 2029 | 2,037.45 | 1,567.27 |
| August 2029 | 2,100.47 | 1,615.74 |
| September 2029 | 2,173.98 | 1,672.29 |
| October 2029 | 2,230.50 | 1,715.77 |
| November 2029 | 2,286.27 | 1,758.67 |
| December 2029 | 2,343.42 | 1,802.63 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,390.29 | 1,838.69 |
| February 2030 | 2,451.58 | 1,885.83 |
| March 2030 | 2,547.19 | 1,959.38 |
| April 2030 | 2,497.25 | 1,920.96 |
| May 2030 | 2,424.51 | 1,865.01 |
| June 2030 | 2,533.62 | 1,948.94 |
| July 2030 | 2,483.94 | 1,910.72 |
| August 2030 | 2,560.76 | 1,969.82 |
| September 2030 | 2,650.39 | 2,038.76 |
| October 2030 | 2,719.30 | 2,091.77 |
| November 2030 | 2,787.28 | 2,144.06 |
| December 2030 | 2,856.96 | 2,197.66 |
Maximum Price: $2,856.96 (December) Minimum Price: $1,838.69 (January)
Max Healthcare‘s Financial Condition (Last 5 Years)
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 1,059 | 2,508 | 3,937 | 4,563 | 5,406 |
| Expenses + | 965 | 2,101 | 2,986 | 3,322 | 3,914 |
| Operating Profit | 94 | 407 | 951 | 1,241 | 1,492 |
| OPM % | 9% | 16% | 24% | 27% | 28% |
| Other Income + | 48 | -122 | 110 | 139 | 178 |
| Interest | 83 | 179 | 101 | 84 | 60 |
| Depreciation | 46 | 174 | 221 | 232 | 245 |
| Profit before tax | 13 | -69 | 739 | 1,064 | 1,365 |
| Tax % | -1% | -67% | 18% | -4% | 23% |
| Net Profit + | 59 | -138 | 605 | 1,104 | 1,058 |
| EPS in Rs | 1.1 | -1.42 | 6.24 | 11.37 | 10.88 |
| Dividend Payout % | 0% | 0% | 0% | 9% | 14% |
Over the past five years, Max Healthcare Institute has exhibited significant financial growth and resilience. Sales have risen impressively from ₹1,059 crore in March 2020 to ₹5,406 crore in March 2024, indicating strong market expansion. Operating profit has soared from ₹94 crore to ₹1,492 crore, with the Operating Profit Margin (OPM) improving from 9% to 28%. Despite an increase in expenses, from ₹965 crore to ₹3,914 crore, the company has managed to enhance profitability. Other income has grown from ₹48 crore to ₹178 crore, while interest expenses have decreased from ₹83 crore to ₹60 crore, demonstrating effective debt management. Depreciation costs have increased to ₹245 crore due to ongoing investments in infrastructure. Profit before tax has seen a significant rise from ₹13 crore to ₹1,365 crore, although the tax rate has fluctuated. Net profit has grown substantially from ₹59 crore to ₹1,058 crore, with Earnings Per Share (EPS) improving from ₹1.1 to ₹10.88. Additionally, the dividend payout ratio has increased from 0% to 14%, underscoring the company’s commitment to returning value to shareholders. Overall, Max Healthcare Institute’s financial performance reflects robust growth, operational efficiency, and a promising outlook.
FAQS
What is the current market capitalization of Max Healthcare Institute Ltd?
Max Healthcare Institute Ltd has a market capitalization of ₹82,010 Crores.
How does the leadership position of Max Healthcare compare in the Indian healthcare sector?
Max Healthcare is the second-largest hospital chain in India based on revenue, EBITDA, and market capitalization.
What is the current stock price of Max Healthcare Institute Ltd?
The current stock price of Max Healthcare Institute Ltd is ₹808.
Max Healthcare share price target for 2025 ranges from a minimum of ₹725.56 to a maximum of ₹1,107.97.
Max Healthcare share price target for 2030 ranges from a minimum of ₹1,838.69 to a maximum of ₹2,856.96.
What is the Price-to-Earnings (P/E) ratio of Max Healthcare stock?
Max Healthcare stock has a Price-to-Earnings ratio of 77.6.
Also Read
Should one invest in Max Healthcare?
What did we learn?
