Max Healthcare Institute Limited
9,943words
4turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
76%
24%
rs
38
26%
4.1%
17.4%
23.7%
54.8%
₹ 1.2 lakh
14.5 billion
₹ 1.2
Guidance — 5 items
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opening
“Indirect overheads for Q1 FY26 include ₹ 96 Cr for New Units.”
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“Like-for-like movement over Q1 FY25 is 11% primarily due to annual merit increase, additional manpower, increased S&M costs and higher CSR expenses.”
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“Increase in costs compared to Q1 FY25 is due to additional borrowings to part finance Jaypee acquisition and purchase of Vaishali land 3.”
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“Pertains to VRS payout to employees in FY22 of ₹ 9 Cr and charges paid to YEIDA for seeking permission for change in shareholding of JHL of ₹ 74 Cr in FY25 4.”
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“Excludes gain on reversal of deferred tax liability of ₹ 244 Cr (net) in FY23 and ₹ 18 Cr (net) in FY25 pursuant to voluntary liquidation of a step down subsidiaries and distribution of its assets to their immediate holding company 28 Network balance sheet1 (Includes Managed and Partner Healthcare Facilities) Mar 20247 Particulars 9,295 1,177 461 87 173 37 Shareholders' Equity (incl.”
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Risks & concerns — 2 flagged
Non-cash item represents the change in fair value of contingent consideration payable to Trust/Society over the balance period (~18 to 29 years) under O&M Contracts and represents change in the WACC, time value of discounted liability and impact of changes in future business plan projections 3.
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one woman director Risk management with a framework that identifies, analyses and mitigates potential threats 1.
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Speaking time
3
1
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Opening remarks
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ESOP (Equity-settled scheme) 12 0.6% 15 0.7% 15 0.6% Movement in fair value of contingent consideration payable and amortisation of contract assets 7 0.4% 4 0.2% 7 0.3% Reported EBITDA Finance cost/(income)2 Depreciation and amortisation Profit before tax Tax3 Profit after tax 479 24.8% 613 26.4% 8 90 0.4% 4.7% 381 19.7% 87 4.5% 36 114 463 87 1.6% 4.9% 19.9% 3.7% 295 15.2% 376 16.2% 591 34 117 441 96 345 24.0% 23% 1.4% 4.8% 17.9% 3.9% 14.0% 16% 17% 1. Indirect overheads for Q1 FY26 include ₹ 96 Cr for New Units. Like-for-like movement over Q1 FY25 is 11% primarily due to annual merit increase, additional manpower, increased S&M costs and higher CSR expenses. It also includes one-time donation of ₹ 12 Cr by one of the PHFs and launch expenses of approx. ₹ 3 Cr at Max Dwarka 2. Net of capitalization for ongoing projects & interest income on deposits, tax refunds, etc. Increase in costs compared to Q1 FY25 is due to additional borrowings to part finance Jaypee acquisition and purchase of
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ESOP (Equity-settled Scheme) Movement in fair value of contingent consideration payable & amortisation of contract assets Reported EBITDA Finance costs (net) Depreciation & Amortisation Profit / (Loss) before tax Tax Profit after tax 2,028 8 2,036 445 327 715 1,486 550 15 7 528 27 104 397 92 305 194 1 195 45 23 112 179 16 - - 16 (4) 8 12 - 12 134 1 135 31 16 71 118 17 - - 17 6 5 6 - 6 255 1 256 77 21 130 228 28 - - 28 4 6 17 - 17 - - - - - (3) (3) 3 - - 3 0 2 0 - 0 (159) (3) (162) 34 (0) (195) (162) 0 - - 0 1 (8) 7 4 3 2,451 8 2,460 631 386 829 1,846 613 15 7 591 34 117 441 96 345 Note: New PHFs i.e. Vikrant Foundation and Nirogi Trust have not been reflected separately and included in the Eliminations & Adjustments due to negligible values 1. Mainly accounting for leases at PHFs | 2. Eliminations relate to revenue from PHFs and intra-network sale/purchase. Also includes consequential impact on amortization due to reversal of intangible assets recognized at MHIL & its subsidiaries for
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ESOP (Equity-settled scheme) Movement in fair value of contingent consideration payable and amortisation of contract assets2 34 7 0.7% 0.1% 34 4 0.6% 0.1% 50 17 Reported EBITDA Finance costs (net) Depreciation and amortisation Profit before tax Exceptional item3 Profit before tax after Exceptional item Tax4 Profit after tax 1,349 25.7% 1,597 27.1% 1,840 112 248 989 9 979 143 837 2.2% 4.8% 18.8% 0.2% 18.8% 2.7% 16.0% 39 260 0.7% 4.4% (38) 284 1,298 22.0% 1,594 - 1,298 214 1,084 - 22.0% 3.6% 18.4% - 1,594 316 1,278 0.7% 0.3% 26.9% (0.5%) 4.2% 23.3% - 23.3% 4.6% 18.7% 55 25 0.6% 0.3% 2,239 25.8% 84 406 1,748 74 1,675 357 1,318 1.0% 4.7% 20.2% 0.8% 19.3% 4.1% 15.2% Note: The numbers for the previous periods have been re-casted and re-grouped to make them comparable with the disclosures in the current period 1. FY22 includes gross revenue of ₹ 236 Cr and EBITDA of ₹ 85 Cr from COVID-19 vaccination & related antibody tests compared to ₹ 2 Cr revenues in FY23 2. Non-cash item represents the c
Contact
Aakrati Porwal Max Healthcare Institute Ltd. Tel: +91 9920 409393 Email: aakrati.porwal@maxhealthcare.com Anoop Poojari / Suraj Digawalekar CDR India Tel: +91 98330 90434 / 98211 94418 Email: anoop@cdr-india.com / suraj@cdr-india.com 43
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