Max Healthcare Institute Limited
9,837words
4turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
73%
76%
24%
rs
38
28%
4.5%
23.7%
20.0%
51.8%
₹ 1.1 lakh
12.2 billion
Guidance — 8 items
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“Indirect overheads for Q2 FY26 include ₹ 57 Cr for New Units.”
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“Like-for-like movement over Q1 FY25 is 7%, mainly due to annual merit increase, additional manpower hired at MSSH Dwarka & other hospitals, increased S&M costs and higher CSR expenses 2.”
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“Increase in costs compared to Q1 FY26 is due to lower interest income on tax refunds 3.”
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“Includes one-time gain of ₹ 149 Cr in Q2 FY26, resulting from merger of Crosslay Remedies Ltd.”
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“Effective tax rate (normalized) was 20.5% in H1 FY26 compared to 21.9% in H1 FY25 27 Memorandum consolidation of Network P&L: H1 FY26 MHIL & its subsidiaries & Silos Partner Healthcare Facilities ("PHF") Financials1 (IGAAP Audited) Ind AS Unaudited Balaji Society GM Modi Society Devki Devi Society Net Revenue from operations Other income4 Total operating income Pharmacy, drugs, consumables & other direct costs Employee benefits expense5 Other expenses6 Total expenses Operating EBITDA”
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“Includes one-time gain of ₹ 149 Cr in Q2 FY26, resulting from merger of Crosslay Remedies Ltd.”
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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 29 Network balance sheet1 (Includes Managed and Partner Healthcare Facilities1) Sep 20247 Particulars 9,816 1,211 484 90 600 45 Shareholders' Equity (incl.”
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Risks & concerns — 3 flagged
Includes ₹ 278 Cr in revenue & ₹ 44 Cr in EBITDA from New Units Includes impact of Max Dwarka, which started its operations in July 2024.
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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) 13 0.6% 15 0.6% 12 0.5% Movement in fair value of contingent consideration payable and amortisation of contract assets 7 0.3% 7 0.3% 6 0.2% Reported EBITDA Finance cost/(income)2 Depreciation and amortisation Profit before tax Tax3 Profit after tax 546 25.7% 5 97 0.2% 4.5% 444 20.9% 95 4.5% 349 16.4% 591 34 117 441 96 345 24.0% 1.4% 4.8% 17.9% 3.9% 14.0% 677 41 122 514 (41) 554 26.2% 24% 1.6% 4.7% 19.9% (1.6%) 21.5% 16% 59% 1. Indirect overheads for Q2 FY26 include ₹ 57 Cr for New Units. Like-for-like movement over Q1 FY25 is 7%, mainly due to annual merit increase, additional manpower hired at MSSH Dwarka & other hospitals, increased S&M costs and higher CSR expenses 2. Net of capitalization for ongoing projects & interest income on deposits, tax refunds, etc. Increase in costs compared to Q1 FY26 is due to lower interest income on tax refunds 3. Includes one-time gain of ₹ 149 Cr in Q2 FY26, resulting from merger of Crosslay Remedies Ltd. and Jaypee Healt
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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 Tax7 Profit / (Loss) after tax 4,163 16 4,179 910 653 1,466 3,029 1,150 27 13 1,111 56 212 843 47 797 384 2 386 89 46 209 344 42 - - 42 (6) 14 33 - 33 280 2 283 62 31 150 243 40 - - 40 13 10 17 - 17 518 3 521 154 42 256 452 69 - - 69 9 13 47 - 47 Ind AS Adjustment2 - - - - - (8) (8) 8 - - 8 1 7 0 - 0 Figs in ₹ Cr MHC Network (Consolidated) (Certified by an ICA) Eliminations & Adjustments3 (321) (8) (329) 71 (1) (397) (328) (2) - - (2) 2 (17) 14 9 5 5,024 16 5,039 1,286 771 1,675 3,732 1,308 27 13 1,268 75 239 954 55 899 1. MHIL Group has service agreements with the PHFs and does not own or control these entities in terms of IND AS 110. Further, some PHFs have not been reflected separately and included in the Eliminations & Adjustments due to negligible operational revenues | 2
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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 Head of Investor Relations 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 44
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