Max Healthcare Institute (543220) investor relations material

Company overview

• Operates 21 healthcare facilities with over 6,100 beds, making it India's second largest hospital chain by revenue and EBITDA.

• 73% of beds are located in metro cities, with a strong presence in Delhi NCR and Mumbai.

• Market capitalization reached ₹1.1 lakh crore ($11.6 billion) with a 35% CAGR from June 2021 to June 2026.

• Vision centers on clinical excellence, patient-centric care, and sustainable growth supported by advanced technology and research.

• Distinguished board and dynamic management team with expertise in healthcare, finance, and operations.

Growth strategy and expansion

• Focus on optimizing existing infrastructure, expanding bed capacity through brownfield and greenfield projects, and pursuing asset-light models.

• Strong track record of successful acquisitions and integrations, adding ~1,300 beds in the last 18 months.

• Plans to add ~4,000 beds in the next 3-4 years, with potential to expand by ~8,300 beds overall.

• Leverages digital platforms, homecare, and pathology businesses for capital-light growth.

• Maintains a minimally leveraged balance sheet and strong free cash flow to support future M&A.

Operational and financial performance

• Achieved 22% revenue CAGR and 33% EBITDA CAGR over the last five years.

• Q1 FY27 occupancy at 75%, ARPOB at ₹82,000, and EBITDA margin at ~25%.

• Q1 FY27 gross revenue grew 15% YoY to ₹2,982 crore, with profit after tax at ₹357 crore.

• Annual FY26 gross revenue was ₹10,538 crore, with a profit after tax of ₹1,631 crore and EBITDA margin of 26.2%.

• Strong cash generation from operations and headroom to raise debt for expansion.