Max Healthcare Institute Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 8, 2025, 1:24 pm

Market Cap	95,343 Cr.
Current Price	981
High / Low	1,228/719
Stock P/E	89.9
Book Value	90.5
Dividend Yield	0.15 %
ROCE	16.0 %
ROE	13.4 %
Face Value	10.0
PEG Ratio	1.35

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Max Healthcare Institute Ltd

Competitors of Max Healthcare Institute Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
NG Industries Ltd	57.0 Cr.	170	206/136	4.70	124	2.06 %	6.50 %	5.63 %	10.0
Global Longlife Hospital and Research Ltd	25.5 Cr.	24.2	46.4/22.1		25.9	0.00 %	2.51 %	4.72 %	10.0
Gian Lifecare Ltd	18.1 Cr.	17.5	29.0/12.1	4.43	19.2	0.00 %	29.2 %	24.6 %	10.0
Fortis Malar Hospitals Ltd	118 Cr.	62.7	108/44.0	153	15.9	67.8 %	3.29 %	9.12 %	10.0
Family Care Hospitals Ltd	26.7 Cr.	4.95	9.50/4.32	0.70	2.67	0.00 %	15.4 %	24.1 %	10.0
Industry Average	22,314.27 Cr	670.23		53.44	89.39	3.10%	12.34%	12.42%	9.12

All Competitor Stocks of Max Healthcare Institute Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	976	937	1,067	1,137	1,142	1,215	1,285	1,363	1,335	1,423	1,543	1,707	1,868
Expenses	728	729	802	818	828	874	948	976	949	1,041	1,156	1,257	1,369
Operating Profit	247	209	265	319	314	340	337	387	386	382	387	451	499
OPM %	25%	22%	25%	28%	28%	28%	26%	28%	29%	27%	25%	26%	27%
Other Income	46	26	31	26	45	40	41	45	46	45	35	41	-40
Interest	25	22	22	22	20	20	19	9	11	21	24	34	52
Depreciation	55	58	57	58	57	60	56	58	61	70	77	84	98
Profit before tax	213	154	216	265	281	301	303	366	360	336	321	374	309
Tax %	11%	20%	20%	-72%	21%	17%	21%	24%	20%	25%	26%	25%	23%
Net Profit	190	124	173	457	222	251	240	277	289	252	236	282	239
EPS in Rs	1.96	1.28	1.78	4.72	2.29	2.58	2.47	2.85	2.98	2.59	2.43	2.90	2.46

Last Updated: February 28, 2025, 6:28 pm

Below is a detailed analysis of the quarterly data for Max Healthcare Institute Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹1,868.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,707.00 Cr. (Sep 2024) to ₹1,868.00 Cr., marking an increase of ₹161.00 Cr..
For Expenses, as of Dec 2024, the value is ₹1,369.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,257.00 Cr. (Sep 2024) to ₹1,369.00 Cr., marking an increase of ₹112.00 Cr..
For Operating Profit, as of Dec 2024, the value is ₹499.00 Cr.. The value appears strong and on an upward trend. It has increased from 451.00 Cr. (Sep 2024) to ₹499.00 Cr., marking an increase of ₹48.00 Cr..
For OPM %, as of Dec 2024, the value is 27.00%. The value appears strong and on an upward trend. It has increased from 26.00% (Sep 2024) to 27.00%, marking an increase of 1.00%.
For Other Income, as of Dec 2024, the value is ₹-40.00 Cr.. The value appears to be declining and may need further review. It has decreased from 41.00 Cr. (Sep 2024) to ₹-40.00 Cr., marking a decrease of 81.00 Cr..
For Interest, as of Dec 2024, the value is ₹52.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 34.00 Cr. (Sep 2024) to ₹52.00 Cr., marking an increase of ₹18.00 Cr..
For Depreciation, as of Dec 2024, the value is ₹98.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 84.00 Cr. (Sep 2024) to ₹98.00 Cr., marking an increase of ₹14.00 Cr..
For Profit before tax, as of Dec 2024, the value is ₹309.00 Cr.. The value appears to be declining and may need further review. It has decreased from 374.00 Cr. (Sep 2024) to ₹309.00 Cr., marking a decrease of 65.00 Cr..
For Tax %, as of Dec 2024, the value is 23.00%. The value appears to be improving (decreasing) as expected. It has decreased from 25.00% (Sep 2024) to 23.00%, marking a decrease of 2.00%.
For Net Profit, as of Dec 2024, the value is ₹239.00 Cr.. The value appears to be declining and may need further review. It has decreased from 282.00 Cr. (Sep 2024) to ₹239.00 Cr., marking a decrease of 43.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 2.46. The value appears to be declining and may need further review. It has decreased from ₹2.90 (Sep 2024) to 2.46, marking a decrease of ₹0.44.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 3:31 pm

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	1,608	1,729	1,691	1,884	2,508	3,937	4,563	5,406	6,542
Expenses	1,467	1,616	1,535	1,595	2,101	2,986	3,322	3,914	4,823
Operating Profit	141	113	156	289	407	951	1,241	1,492	1,719
OPM %	9%	7%	9%	15%	16%	24%	27%	28%	26%
Other Income	59	65	56	72	-122	110	139	178	80
Interest	100	99	101	153	179	101	84	60	131
Depreciation	96	94	103	120	174	221	232	245	329
Profit before tax	5	-15	8	89	-69	739	1,064	1,365	1,340
Tax %	-236%	65%	102%	-7%	67%	18%	-4%	23%
Net Profit	16	-25	-0	95	-138	605	1,104	1,058	1,008
EPS in Rs	0.29	-0.47	-0.06	1.77	-1.42	6.24	11.37	10.88	10.38
Dividend Payout %	0%	0%	0%	0%	0%	0%	9%	14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-256.25%	100.00%	-245.26%	538.41%	82.48%	-4.17%
Change in YoY Net Profit Growth (%)	0.00%	356.25%	-345.26%	783.67%	-455.93%	-86.65%

Max Healthcare Institute Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2017-2018 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	26%
3 Years:	29%
TTM:	26%

Compounded Profit Growth
10 Years:	%
5 Years:	780%
3 Years:	96%
TTM:	0%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	41%
1 Year:	28%

Return on Equity
10 Years:	%
5 Years:	12%
3 Years:	13%
Last Year:	13%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:32 pm

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	537	537	537	537	966	970	971	972	972
Reserves	655	627	426	450	4,673	5,313	6,439	7,436	7,827
Borrowings	874	981	1,003	1,516	1,101	913	689	1,299	1,768
Other Liabilities	1,080	1,157	1,389	1,300	1,803	1,993	2,003	2,293	2,560
Total Liabilities	3,146	3,302	3,355	3,804	8,543	9,189	10,102	12,000	13,127
Fixed Assets	2,244	2,227	2,192	2,380	6,536	7,018	7,039	8,784	9,506
CWIP	46	38	87	6	27	151	252	553	588
Investments	0	0	1	1	1	1	1	2	3
Other Assets	856	1,036	1,075	1,418	1,980	2,020	2,810	2,661	3,030
Total Assets	3,146	3,302	3,355	3,804	8,543	9,189	10,102	12,000	13,127

Below is a detailed analysis of the balance sheet data for Max Healthcare Institute Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹972.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹972.00 Cr..
For Reserves, as of Sep 2024, the value is ₹7,827.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹7,436.00 Cr. (Mar 2024) to ₹7,827.00 Cr., marking an increase of 391.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹1,768.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from ₹1,299.00 Cr. (Mar 2024) to ₹1,768.00 Cr., marking an increase of 469.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹2,560.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹2,293.00 Cr. (Mar 2024) to ₹2,560.00 Cr., marking an increase of 267.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹13,127.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹12,000.00 Cr. (Mar 2024) to ₹13,127.00 Cr., marking an increase of 1,127.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹9,506.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹8,784.00 Cr. (Mar 2024) to ₹9,506.00 Cr., marking an increase of 722.00 Cr..
For CWIP, as of Sep 2024, the value is ₹588.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹553.00 Cr. (Mar 2024) to ₹588.00 Cr., marking an increase of 35.00 Cr..
For Investments, as of Sep 2024, the value is ₹3.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹2.00 Cr. (Mar 2024) to ₹3.00 Cr., marking an increase of 1.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹3,030.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹2,661.00 Cr. (Mar 2024) to ₹3,030.00 Cr., marking an increase of 369.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹13,127.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹12,000.00 Cr. (Mar 2024) to ₹13,127.00 Cr., marking an increase of 1,127.00 Cr..

Notably, the Reserves (₹7,827.00 Cr.) exceed the Borrowings (1,768.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

No data available for this post.

Free Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-733.00	-868.00	155.00	288.00	406.00	38.00	-688.00	0.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	53	59	78	80	53	36	27	31
Inventory Days	20	24	26	40	34	24	30	26
Days Payable	184	227	292	273	274	174	215	221
Cash Conversion Cycle	-111	-144	-188	-153	-187	-114	-158	-164
Working Capital Days	7	-2	-136	-91	-32	-13	-39	-36
ROCE %		4%	6%	11%	7%	12%	15%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	50.64%	50.64%	23.80%	23.78%	23.77%	23.76%	23.76%	23.75%	23.75%	23.74%	23.74%	23.74%
FIIs	14.59%	23.34%	49.27%	50.15%	51.96%	59.89%	60.39%	60.69%	57.33%	56.99%	57.29%	56.93%
DIIs	17.57%	19.42%	21.16%	20.47%	19.36%	11.90%	11.40%	11.55%	14.96%	15.36%	15.14%	15.55%
Public	17.20%	6.61%	5.76%	5.61%	4.92%	4.45%	4.45%	3.99%	3.97%	3.91%	3.84%	3.77%
No. of Shareholders	1,20,079	1,05,000	1,01,659	1,11,701	1,04,656	1,11,374	1,18,635	1,11,338	1,27,009	1,36,254	1,37,856	1,40,028

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid-Cap Opportunities Fund - Regular Plan	24,302,305	2.96	1545.14	7,844,230	2025-03-10	209.81%
Canara Robeco Emerging Equities	7,844,230	2.65	498.74	7,844,230	2025-03-10	0%
PGIM India Midcap Opportunities Fund	4,562,120	2.96	290.06	7,844,230	2025-03-10	-41.84%
SBI Magnum Midcap Fund	4,500,000	1.98	286.11	7,844,230	2025-03-10	-42.63%
Nippon India Growth Fund	4,100,000	1.22	260.68	7,844,230	2025-03-10	-47.73%
SBI Large & Midcap Fund	3,679,076	1.36	233.92	7,844,230	2025-03-10	-53.1%
SBI Flexi Cap Fund	3,605,899	1.23	229.26	7,844,230	2025-03-10	-54.03%
PGIM India Flexi Cap Fund	2,871,065	3.1	182.54	7,844,230	2025-03-10	-63.4%
Canara Robeco Flexi Cap Fund	2,780,570	1.64	176.79	7,844,230	2025-03-10	-64.55%
HSBC Midcap Fund	2,549,610	1.83	162.1	7,844,230	2025-03-10	-67.5%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	10.89	11.38	6.25	-1.59	1.01
Diluted EPS (Rs.)	10.84	11.36	6.24	-1.59	1.01
Cash EPS (Rs.)	13.40	13.76	8.52	0.61	1.09
Book Value[Excl.RevalReserv]/Share (Rs.)	86.51	76.31	64.79	58.37	47.52
Book Value[Incl.RevalReserv]/Share (Rs.)	86.51	76.31	64.79	58.37	47.52
Revenue From Operations / Share (Rs.)	55.62	46.99	40.55	25.93	19.71
PBDIT / Share (Rs.)	17.18	14.21	11.03	5.37	2.64
PBIT / Share (Rs.)	14.66	11.82	8.75	3.57	1.79
PBT / Share (Rs.)	14.05	10.96	7.62	-0.71	0.23
Net Profit / Share (Rs.)	10.88	11.37	6.24	-1.19	0.24
NP After MI And SOA / Share (Rs.)	10.88	11.37	6.24	-1.42	1.10
PBDIT Margin (%)	30.89	30.24	27.21	20.70	13.37
PBIT Margin (%)	26.36	25.15	21.58	13.75	9.06
PBT Margin (%)	25.25	23.31	18.79	-2.74	1.20
Net Profit Margin (%)	19.56	24.18	15.38	-4.57	1.21
NP After MI And SOA Margin (%)	19.56	24.18	15.38	-5.49	5.57
Return on Networth / Equity (%)	12.57	14.89	9.63	-2.43	2.31
Return on Capital Employeed (%)	13.25	12.67	10.06	4.43	3.23
Return On Assets (%)	8.81	10.92	6.58	-1.60	1.48
Long Term Debt / Equity (X)	0.12	0.06	0.10	0.14	0.04
Total Debt / Equity (X)	0.13	0.07	0.11	0.15	0.32
Asset Turnover Ratio (%)	0.48	0.21	0.21	0.18	0.00
Current Ratio (X)	1.37	1.86	1.32	1.45	2.89
Quick Ratio (X)	1.30	1.79	1.24	1.38	2.86
Dividend Payout Ratio (NP) (%)	9.18	0.00	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	7.45	0.00	0.00	0.00	0.00
Earning Retention Ratio (%)	90.82	0.00	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	92.55	0.00	0.00	0.00	0.00
Interest Coverage Ratio (X)	27.89	16.45	10.61	2.89	1.70
Interest Coverage Ratio (Post Tax) (X)	18.66	14.16	7.09	1.66	1.16
Enterprise Value (Cr.)	79785.85	41914.32	33863.11	20147.55	0.00
EV / Net Operating Revenue (X)	14.76	9.19	8.61	8.04	0.00
EV / EBITDA (X)	47.77	30.38	31.65	38.85	0.00
MarketCap / Net Operating Revenue (X)	14.75	9.38	8.56	7.95	0.00
Retention Ratios (%)	90.81	0.00	0.00	0.00	0.00
Price / BV (X)	9.48	5.78	5.35	3.53	0.00
Price / Net Operating Revenue (X)	14.75	9.38	8.56	7.95	0.00
EarningsYield	0.01	0.02	0.01	-0.01	0.00

After reviewing the key financial ratios for Max Healthcare Institute Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 10.89. This value is within the healthy range. It has decreased from 11.38 (Mar 23) to 10.89, marking a decrease of 0.49.
For Diluted EPS (Rs.), as of Mar 24, the value is 10.84. This value is within the healthy range. It has decreased from 11.36 (Mar 23) to 10.84, marking a decrease of 0.52.
For Cash EPS (Rs.), as of Mar 24, the value is 13.40. This value is within the healthy range. It has decreased from 13.76 (Mar 23) to 13.40, marking a decrease of 0.36.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 86.51. It has increased from 76.31 (Mar 23) to 86.51, marking an increase of 10.20.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 86.51. It has increased from 76.31 (Mar 23) to 86.51, marking an increase of 10.20.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 55.62. It has increased from 46.99 (Mar 23) to 55.62, marking an increase of 8.63.
For PBDIT / Share (Rs.), as of Mar 24, the value is 17.18. This value is within the healthy range. It has increased from 14.21 (Mar 23) to 17.18, marking an increase of 2.97.
For PBIT / Share (Rs.), as of Mar 24, the value is 14.66. This value is within the healthy range. It has increased from 11.82 (Mar 23) to 14.66, marking an increase of 2.84.
For PBT / Share (Rs.), as of Mar 24, the value is 14.05. This value is within the healthy range. It has increased from 10.96 (Mar 23) to 14.05, marking an increase of 3.09.
For Net Profit / Share (Rs.), as of Mar 24, the value is 10.88. This value is within the healthy range. It has decreased from 11.37 (Mar 23) to 10.88, marking a decrease of 0.49.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 10.88. This value is within the healthy range. It has decreased from 11.37 (Mar 23) to 10.88, marking a decrease of 0.49.
For PBDIT Margin (%), as of Mar 24, the value is 30.89. This value is within the healthy range. It has increased from 30.24 (Mar 23) to 30.89, marking an increase of 0.65.
For PBIT Margin (%), as of Mar 24, the value is 26.36. This value exceeds the healthy maximum of 20. It has increased from 25.15 (Mar 23) to 26.36, marking an increase of 1.21.
For PBT Margin (%), as of Mar 24, the value is 25.25. This value is within the healthy range. It has increased from 23.31 (Mar 23) to 25.25, marking an increase of 1.94.
For Net Profit Margin (%), as of Mar 24, the value is 19.56. This value exceeds the healthy maximum of 10. It has decreased from 24.18 (Mar 23) to 19.56, marking a decrease of 4.62.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 19.56. This value is within the healthy range. It has decreased from 24.18 (Mar 23) to 19.56, marking a decrease of 4.62.
For Return on Networth / Equity (%), as of Mar 24, the value is 12.57. This value is below the healthy minimum of 15. It has decreased from 14.89 (Mar 23) to 12.57, marking a decrease of 2.32.
For Return on Capital Employeed (%), as of Mar 24, the value is 13.25. This value is within the healthy range. It has increased from 12.67 (Mar 23) to 13.25, marking an increase of 0.58.
For Return On Assets (%), as of Mar 24, the value is 8.81. This value is within the healthy range. It has decreased from 10.92 (Mar 23) to 8.81, marking a decrease of 2.11.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.12. This value is below the healthy minimum of 0.2. It has increased from 0.06 (Mar 23) to 0.12, marking an increase of 0.06.
For Total Debt / Equity (X), as of Mar 24, the value is 0.13. This value is within the healthy range. It has increased from 0.07 (Mar 23) to 0.13, marking an increase of 0.06.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.48. It has increased from 0.21 (Mar 23) to 0.48, marking an increase of 0.27.
For Current Ratio (X), as of Mar 24, the value is 1.37. This value is below the healthy minimum of 1.5. It has decreased from 1.86 (Mar 23) to 1.37, marking a decrease of 0.49.
For Quick Ratio (X), as of Mar 24, the value is 1.30. This value is within the healthy range. It has decreased from 1.79 (Mar 23) to 1.30, marking a decrease of 0.49.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 9.18. This value is below the healthy minimum of 20. It has increased from 0.00 (Mar 23) to 9.18, marking an increase of 9.18.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 7.45. This value is below the healthy minimum of 20. It has increased from 0.00 (Mar 23) to 7.45, marking an increase of 7.45.
For Earning Retention Ratio (%), as of Mar 24, the value is 90.82. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 90.82, marking an increase of 90.82.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 92.55. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 92.55, marking an increase of 92.55.
For Interest Coverage Ratio (X), as of Mar 24, the value is 27.89. This value is within the healthy range. It has increased from 16.45 (Mar 23) to 27.89, marking an increase of 11.44.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 18.66. This value is within the healthy range. It has increased from 14.16 (Mar 23) to 18.66, marking an increase of 4.50.
For Enterprise Value (Cr.), as of Mar 24, the value is 79,785.85. It has increased from 41,914.32 (Mar 23) to 79,785.85, marking an increase of 37,871.53.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 14.76. This value exceeds the healthy maximum of 3. It has increased from 9.19 (Mar 23) to 14.76, marking an increase of 5.57.
For EV / EBITDA (X), as of Mar 24, the value is 47.77. This value exceeds the healthy maximum of 15. It has increased from 30.38 (Mar 23) to 47.77, marking an increase of 17.39.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 14.75. This value exceeds the healthy maximum of 3. It has increased from 9.38 (Mar 23) to 14.75, marking an increase of 5.37.
For Retention Ratios (%), as of Mar 24, the value is 90.81. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 90.81, marking an increase of 90.81.
For Price / BV (X), as of Mar 24, the value is 9.48. This value exceeds the healthy maximum of 3. It has increased from 5.78 (Mar 23) to 9.48, marking an increase of 3.70.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 14.75. This value exceeds the healthy maximum of 3. It has increased from 9.38 (Mar 23) to 14.75, marking an increase of 5.37.
For EarningsYield, as of Mar 24, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.02 (Mar 23) to 0.01, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Max Healthcare Institute Ltd as of March 12, 2025 is: ₹873.48

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 12, 2025, Max Healthcare Institute Ltd is Overvalued by 10.96% compared to the current share price 981.00

Intrinsic Value of Max Healthcare Institute Ltd as of March 12, 2025 is: 1,454.44

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 12, 2025, Max Healthcare Institute Ltd is Undervalued by 48.26% compared to the current share price 981.00

Last 5 Year EPS CAGR: 66.51%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -42.75, which is a positive sign. The stock has a low average Cash Conversion Cycle of -152.38, which is a positive sign. The company has higher reserves (3,760.67 cr) compared to borrowings (1,127.11 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.67 cr) and profit (84.44 cr) over the years.	The stock has a low average ROCE of 8.88%, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Max Healthcare Institute Ltd:
1. Net Profit Margin: 19.56%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 13.25% (Industry Average ROCE: 12.34%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 12.57% (Industry Average ROE: 12.42%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 18.66
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.3
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 89.9 (Industry average Stock P/E: 53.44)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.13
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Max Healthcare Institute Ltd. is a Public Limited Listed company incorporated on 18/06/2001 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L72200MH2001PLC322854 and registration number is 111313. Currently Company is involved in the business activities of Hospital activities. Company's Total Operating Revenue is Rs. 2341.36 Cr. and Equity Capital is Rs. 971.91 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Hospitals & Medical Services	401, 4th Floor, Man Excellenza, Mumbai Maharashtra 400056	investors@maxhealthcare.com http://www.maxhealthcare.in

Management
Name	Position Held
Mr. Abhay Soi	Chairman & Managing Director
Mr. Pranav Amin	Independent Director
Mr. Michael Thomas Neeb	Independent Director
Mr. K Narasimha Murthy	Independent Director
Mr. Anil Kumar Bhatnagar	Non Executive Director
Mr. Narayan K Seshadri	Non Executive Director
Ms. Amrita Gangotra	Independent Woman Director
Mr. Mahendra Gumanmalji Lodha	Independent Director
Dr. Pranav C Mehta	Independent Director

FAQ

What is the latest intrinsic value of Max Healthcare Institute Ltd?

The latest intrinsic value of Max Healthcare Institute Ltd as on 09 March 2025 is ₹873.48, which is 10.96% lower than the current market price of 981.00, indicating the stock is overvalued by 10.96%. The intrinsic value of Max Healthcare Institute Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹95,343 Cr. and recorded a high/low of ₹1,228/719 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹7,827 Cr and total liabilities of ₹13,127 Cr.

What is the Market Cap of Max Healthcare Institute Ltd?

The Market Cap of Max Healthcare Institute Ltd is 95,343 Cr..

What is the current Stock Price of Max Healthcare Institute Ltd as on 09 March 2025?

The current stock price of Max Healthcare Institute Ltd as on 09 March 2025 is ₹981.

What is the High / Low of Max Healthcare Institute Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Max Healthcare Institute Ltd stocks is ₹1,228/719.

What is the Stock P/E of Max Healthcare Institute Ltd?

The Stock P/E of Max Healthcare Institute Ltd is 89.9.

What is the Book Value of Max Healthcare Institute Ltd?

The Book Value of Max Healthcare Institute Ltd is 90.5.

What is the Dividend Yield of Max Healthcare Institute Ltd?

The Dividend Yield of Max Healthcare Institute Ltd is 0.15 %.

What is the ROCE of Max Healthcare Institute Ltd?

The ROCE of Max Healthcare Institute Ltd is 16.0 %.

What is the ROE of Max Healthcare Institute Ltd?

The ROE of Max Healthcare Institute Ltd is 13.4 %.

What is the Face Value of Max Healthcare Institute Ltd?

The Face Value of Max Healthcare Institute Ltd is 10.0.