About
Max Healthcare Institute Limited provides medical and healthcare services in India. It offers services in various specialties, including cardiac sciences, orthopedics, oncology, renal sciences, neurosciences, minimal access and general surgery, pulmonology, obstetrics, bone marrow transplant, bariatric/weight loss surgery, gynecology, minimal access/laparoscopic surgery, eye care/ophthalmology, robotic surgery, paediatrics, nephrology, liver and biliary sciences, gastroenterology and GI surgery, internal medicine, organ transplants, and plastic and reconstructive surgery. The company also provides Max@Home, a platform that offers health and wellness services at home; and Max Lab, which provides diagnostic testing services to patients. In addition, it offers organ and tissue donation, preventive health checks, ambulance and immigration, air ambulance, and insurance and TPA services. The company provides healthcare services through a network of primary care clinics, multi-specialty hospitals/medical centres, and super-specialty hospital facilities. Max Healthcare Institute Limited was incorporated in 2001 and is based in Gurugram, India.
Key Metrics
as of Sep 2026Market Cap95,916 Cr
P/E64.10
Div Yield0.20 %
Book Value₹110.00
52w High₹1,222.00
52w Low₹903.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 783.00 | 733.00 | 711.00 | 737.00 | 694.00 | 659.00 | 697.00 | 686.00 | 621.00 | 610.00 | 591.00 | 597.00 | 544.00 |
| Expenses | 600.00 | 518.00 | 507.00 | 523.00 | 506.00 | 484.00 | 461.00 | 461.00 | 423.00 | 407.00 | 391.00 | 394.00 | 384.00 |
| Operating Profit | 182.00 | 215.00 | 204.00 | 214.00 | 188.00 | 175.00 | 236.00 | 225.00 | 198.00 | 203.00 | 200.00 | 203.00 | 160.00 |
| OPM % | 23.00 | 29.00 | 29.00 | 29.00 | 27.00 | 27.00 | 34.00 | 33.00 | 32.00 | 33.00 | 34.00 | 34.00 | 29.00 |
| Other Income | 92.00 | 91.00 | 68.00 | 47.00 | 80.00 | 98.00 | 18.00 | 134.00 | 43.00 | 134.00 | 43.00 | 48.00 | 43.00 |
| Depreciation | 37.00 | 35.00 | 36.00 | 37.00 | 35.00 | 36.00 | 33.00 | 32.00 | 30.00 | 32.00 | 30.00 | 28.00 | 28.00 |
| Interest | 12.00 | 11.00 | 11.00 | 9.00 | 9.00 | 9.00 | 23.00 | 8.00 | 8.00 | 15.00 | 10.00 | 13.00 | 14.00 |
| Profit before tax | 226.00 | 260.00 | 225.00 | 216.00 | 223.00 | 227.00 | 198.00 | 318.00 | 203.00 | 291.00 | 203.00 | 210.00 | 161.00 |
| Tax % | 26.00 | 22.00 | 17.00 | 26.00 | 26.00 | 22.00 | 30.00 | 27.00 | 24.00 | 17.00 | 22.00 | 23.00 | 22.00 |
| Net Profit | 168.00 | 203.00 | 187.00 | 160.00 | 166.00 | 177.00 | 138.00 | 231.00 | 154.00 | 242.00 | 158.00 | 161.00 | 126.00 |
| EPS in Rs | 1.72 | 2.09 | 1.92 | 1.65 | 1.71 | 1.82 | 1.42 | 2.38 | 1.59 | 2.49 | 1.63 | 1.66 | 1.30 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,874.00 | 2,664.00 | 2,341.00 | 1,905.00 | 1,775.00 | 1,031.00 | 59.00 | 1,008.00 | 1,059.00 | 984.00 | 912.00 | 790.00 |
| Expenses | 2,054.00 | 1,830.00 | 1,579.00 | 1,321.00 | 1,332.00 | 870.00 | 65.00 | 976.00 | 1,048.00 | 941.00 | 890.00 | 768.00 |
| Operating Profit | 821.00 | 833.00 | 762.00 | 584.00 | 443.00 | 161.00 | -6.00 | 31.00 | 11.00 | 43.00 | 22.00 | 22.00 |
| OPM % | 29.00 | 31.00 | 33.00 | 31.00 | 25.00 | 16.00 | -10.00 | 3.10 | 1.00 | 4.40 | 2.50 | 2.80 |
| Other Income | 286.00 | 293.00 | 271.00 | 144.00 | 128.00 | -104.00 | 66.00 | 47.00 | 51.00 | 30.00 | 35.00 | 33.00 |
| Interest | 40.00 | 48.00 | 52.00 | 52.00 | 59.00 | 112.00 | 60.00 | 44.00 | 41.00 | 35.00 | 30.00 | 43.00 |
| Depreciation | 143.00 | 131.00 | 117.00 | 113.00 | 112.00 | 91.00 | 3.00 | 53.00 | 49.00 | 51.00 | 50.00 | 49.00 |
| Profit before tax | 924.00 | 947.00 | 865.00 | 563.00 | 400.00 | -146.00 | -3.00 | -18.00 | -28.00 | -13.00 | -24.00 | -38.00 |
| Tax % | 22.00 | 26.00 | 21.00 | -23.00 | 17.00 | 12.00 | -5.00 | 26.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 717.00 | 701.00 | 687.00 | 694.00 | 332.00 | -164.00 | -3.00 | -23.00 | -28.00 | -13.00 | -24.00 | -38.00 |
| EPS in Rs | 7.36 | 7.21 | 7.07 | 7.15 | 3.42 | -1.70 | -0.06 | -0.43 | -0.51 | -0.24 | -0.44 | -0.78 |
| Dividend Payout % | 27.00 | 21.00 | 21.00 | 14.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 973.00 | 972.00 | 972.00 | 971.00 | 970.00 | 966.00 | 537.00 | 537.00 | 537.00 | 537.00 | 533.00 | 489.00 |
| Reserves | 7,967.00 | 7,317.00 | 6,709.00 | 6,071.00 | 5,342.00 | 4,973.00 | 2,338.00 | 749.00 | 773.00 | 770.00 | 762.00 | 523.00 |
| Borrowings | 825.00 | 612.00 | 443.00 | 534.00 | 556.00 | 480.00 | 658.00 | 390.00 | 386.00 | 314.00 | 273.00 | 296.00 |
| Other Liabilities | 1,125.00 | 1,065.00 | 945.00 | 845.00 | 945.00 | 724.00 | 20.00 | 274.00 | 278.00 | 210.00 | 171.00 | 141.00 |
| Total Liabilities | 10,890.00 | 9,967.00 | 9,069.00 | 8,420.00 | 7,812.00 | 7,143.00 | 3,553.00 | 1,951.00 | 1,973.00 | 1,832.00 | 1,740.00 | 1,449.00 |
| Fixed Assets | 4,909.00 | 4,871.00 | 4,717.00 | 4,485.00 | 4,493.00 | 2,989.00 | 90.00 | 479.00 | 502.00 | 429.00 | 424.00 | 430.00 |
| CWIP | 509.00 | 277.00 | 235.00 | 103.00 | 60.00 | 8.00 | 0.00 | 10.00 | 7.00 | 30.00 | 6.00 | 15.00 |
| Investments | 2,626.00 | 2,614.00 | 1,915.00 | 1,475.00 | 1,447.00 | 2,379.00 | 2,471.00 | 770.00 | 799.00 | 866.00 | 840.00 | 451.00 |
| Other Assets | 2,847.00 | 2,206.00 | 2,202.00 | 2,358.00 | 1,811.00 | 1,766.00 | 992.00 | 693.00 | 665.00 | 508.00 | 469.00 | 554.00 |
| Total Assets | 10,890.00 | 9,967.00 | 9,069.00 | 8,420.00 | 7,812.00 | 7,143.00 | 3,553.00 | 1,951.00 | 1,973.00 | 1,832.00 | 1,740.00 | 1,449.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 503.00 | 594.00 | 613.00 | 696.00 | 447.00 | 219.00 | -36.00 | -19.00 | 52.00 | 33.00 | 64.00 | 39.00 |
| Cash from Investing Activity | -426.00 | -870.00 | -806.00 | -843.00 | -670.00 | -84.00 | -2,536.00 | 55.00 | -89.00 | -66.00 | -330.00 | -200.00 |
| Cash from Financing Activity | 39.00 | -28.00 | -246.00 | -54.00 | -161.00 | 397.00 | 2,332.00 | -36.00 | 36.00 | 34.00 | 251.00 | 176.00 |
| Net Cash Flow | 116.00 | -304.00 | -438.00 | -201.00 | -384.00 | 532.00 | -240.00 | 0.00 | 0.00 | 0.00 | -16.00 | 15.00 |
| Free Cash Flow | 153.00 | 344.00 | 156.00 | 579.00 | 78.00 | 189.00 | -39.00 | -66.00 | -7.00 | -47.00 | 42.00 | -15.00 |
| CFO/OP % | 86.00 | 93.00 | 100.00 | 134.00 | 111.00 | 122.00 | 467.00 | -35.00 | 573.00 | 93.00 | 338.00 | 223.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 53.00 | 40.00 | 32.00 | 27.00 | 56.00 | 109.00 | 517.00 | 103.00 | 68.00 | 55.00 | 48.00 | 67.00 |
| Inventory Days | 18.00 | 20.00 | 24.00 | 31.00 | 20.00 | 33.00 | — | 25.00 | 22.00 | 19.00 | 18.00 | 20.00 |
| Days Payable | 165.00 | 186.00 | 225.00 | 226.00 | 159.00 | 297.00 | — | 335.00 | 250.00 | 206.00 | 183.00 | 171.00 |
| Cash Conversion Cycle | -94.00 | -125.00 | -169.00 | -169.00 | -83.00 | -155.00 | 517.00 | -206.00 | -161.00 | -132.00 | -117.00 | -85.00 |
| Working Capital Days | -16.00 | -22.00 | -32.00 | -45.00 | 5.00 | 27.00 | -493.00 | 14.00 | -27.00 | -20.00 | -33.00 | -15.00 |
| ROCE % | 10.00 | 13.00 | 12.00 | 9.00 | 7.00 | 4.00 | 2.00 | 2.00 | 1.00 | 1.00 | 0.00 | — |
Corporate Actions
4 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 03 Jul 2026 | 03 Jul 2026 | — | 2.00 | |
| Dividend | 04 Jul 2025 | 04 Jul 2025 | — | 1.50 | |
| Dividend | 23 Aug 2024 | 23 Aug 2024 | — | 1.50 | |
| Dividend | 08 Sep 2023 | 08 Sep 2023 | — | 1.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update10 Oct 2025 from care
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Rating update4 Apr 2025 from care
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Rating update3 Oct 2024 from care
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Rating update9 Oct 2023 from care
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Rating update22 Nov 2022 from care
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Rating update5 Sep 2022 from care
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