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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 543223 | NSE: MAXIND

Fundamental Analysis of Max India Ltd

About the Company - Max India Ltd

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INDUSTRYADDRESSCONTACT
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Basic Stock Data of Max India Ltd

Market Cap 817 Cr.
Current Price 189
High / Low234/76.0
Stock P/E
Book Value 123
Dividend Yield0.00 %
ROCE0.53 %
ROE1.81 %
Face Value 10.0

Data Source: screener.in

Competitors of Max India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Shalby Ltd 3,187 Cr. 295340/11439.2 89.20.41 %10.6 %7.37 % 10.0
Narayana Hrudayalaya Ltd 28,270 Cr. 1,3831,445/72336.6 1220.18 %31.6 %33.1 % 10.0
Aashka Hospitals Ltd 179 Cr. 76.584.0/41.4 40.30.00 %0.42 %2.70 % 10.0
Vimta Labs Ltd 1,093 Cr. 493623/28927.9 1330.42 %24.3 %18.4 % 2.00
Aster DM Healthcare Ltd 23,315 Cr. 467487/21764.0 87.60.00 %9.21 %11.0 % 10.0
Industry Average46.8 Cr266.533.5494.420.2%15.23%14.51%8.4

Max India Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales28.7932.6833.8955.3082.8341.6950.0643.6158.0143.0656.3540.6749.23
Expenses36.2338.5841.3756.0079.8543.5853.5444.8255.9446.0554.9853.1653.75
Operating Profit-7.44-5.90-7.48-0.702.98-1.89-3.48-1.212.07-2.991.37-12.49-4.52
OPM %-25.84%-18.05%-22.07%-1.27%3.60%-4.53%-6.95%-2.77%3.57%-6.94%2.43%-30.71%-9.18%
Other Income1.871.520.92-2.682.561.141.412.493.023.093.825.596.02
Interest8.015.724.513.893.351.971.071.641.451.611.531.000.97
Depreciation2.832.612.602.242.222.202.331.922.012.302.212.402.34
Profit before tax-16.41-12.71-13.67-9.51-0.03-4.92-5.47-2.281.63-3.811.45-10.30-1.81
Tax %-5.42%-2.05%30.65%-7.47%-1,766.67%-15.85%71.48%-82.89%207.98%92.65%388.28%-18.54%-159.67%
Net Profit-17.30-12.97-9.48-10.22-0.56-5.70-1.56-4.17-1.76-0.28-4.18-12.21-4.70
EPS in Rs-3.22-2.41-1.76-1.90-0.10-1.06-0.29-0.78-0.41-0.07-0.97-2.84-1.09

Max India Ltd Quarterly Chart

Max India Ltd Profit & Loss

MonthMar 2020Mar 2021Mar 2022Mar 2023TTM
Sales211121229200189
Expenses216150232200208
Operating Profit-5-29-3-0-19
OPM %-2%-24%-1%-0%-10%
Other Income277021219
Interest27241065
Depreciation810789
Profit before tax237-64-18-3-14
Tax %2%17%11%-245%
Net Profit232-53-16-10-21
EPS in Rs59,412.00-9.88-3.00-2.41-4.97
Dividend Payout %0%0%0%0%

Max India Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2020-20212021-20222022-2023
YoY Net Profit Growth (%)-122.84%69.81%37.50%
Change in YoY Net Profit Growth (%)0.00%192.66%-32.31%

Max India Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:-2%
TTM:-4%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-402%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:45%
1 Year:114%
Return on Equity
10 Years:%
5 Years:%
3 Years:-4%
Last Year:-2%

Max India Ltd Balance Sheet

MonthMar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital5454544343
Reserves652599588499486
Borrowings182145614515
Other Liabilities136198156166169
Total Liabilities1,024996858753713
Fixed Assets144156159159156
CWIP10001
Investments4143341788368
Other Assets465506522511489
Total Assets1,024996858753713

Max India Ltd Reserves and Borrowings Chart

Max India Ltd Cash Flow

MonthMar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -19736669
Cash from Investing Activity -5261318124
Cash from Financing Activity 557-73-94-119
Net Cash Flow1212-1075

Max India Ltd Financial Efficiency Indicators

MonthMar 2020Mar 2021Mar 2022Mar 2023
Debtor Days242295
Inventory Days1,7366,544385222
Days Payable1546332858
Cash Conversion Cycle1,6075,932366170
Working Capital Days443517349269
ROCE %-4%-0%1%

Max India Ltd Financial Efficiency Indicators Chart

Max India Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters40.89%40.89%40.89%40.89%40.89%40.89%51.11%51.11%51.11%51.11%50.94%50.94%
FIIs10.83%6.14%6.04%6.21%5.83%5.76%7.55%11.38%11.26%10.71%10.59%10.32%
DIIs3.08%3.08%3.08%3.07%3.07%3.07%0.00%0.00%0.00%0.00%0.69%0.69%
Public45.21%49.90%50.00%49.83%50.21%50.28%41.35%37.51%37.63%38.18%37.77%38.04%
No. of Shareholders33,22234,54735,63931,83530,00629,16331,34737,25938,69736,35636,56335,888

Max India Ltd Shareholding Pattern Chart

No. of Max India Ltd Shareholders

This stock is not held by any mutual fund

Max India Ltd ROCE Trend

Max India Ltd EPS Trend

Max India Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.00
Basic EPS (Rs.)-2.18-3.35-9.8855.23
Diluted EPS (Rs.)-2.17-3.35-9.8855.23
Cash EPS (Rs.)-0.15-1.34-7.8144.61
Book Value[Excl.RevalReserv]/Share (Rs.)125.99118.45121.44131.18
Book Value[Incl.RevalReserv]/Share (Rs.)125.99118.45121.44131.18
Revenue From Operations / Share (Rs.)46.7242.7422.4739.23
PBDIT / Share (Rs.)3.001.17-3.72-0.35
PBIT / Share (Rs.)1.04-0.49-5.65-1.91
PBT / Share (Rs.)-0.40-3.36-11.72-16.25
Net Profit / Share (Rs.)-2.12-3.01-9.7343.05
NP After MI And SOA / Share (Rs.)-2.41-3.35-9.8855.23
PBDIT Margin (%)6.432.74-16.54-0.91
PBIT Margin (%)2.22-1.16-25.12-4.87
PBT Margin (%)-0.86-7.86-52.13-41.41
Net Profit Margin (%)-4.53-7.04-43.31109.75
NP After MI And SOA Margin (%)-5.16-7.84-43.94140.78
Return on Networth / Equity (%)-1.91-2.83-8.1342.10
Return on Capital Employeed (%)0.75-0.38-3.93-1.19
Return On Assets (%)-1.37-2.11-5.3229.01
Long Term Debt / Equity (X)0.040.060.130.19
Total Debt / Equity (X)0.040.060.130.19
Asset Turnover Ratio (%)0.030.030.000.00
Current Ratio (X)2.863.583.495.07
Quick Ratio (X)2.542.732.383.67
Interest Coverage Ratio (X)2.080.61-0.81-0.07
Interest Coverage Ratio (Post Tax) (X)-0.46-0.07-0.80-0.57
Enterprise Value (Cr.)281.41408.39411.700.00
EV / Net Operating Revenue (X)1.401.783.410.00
EV / EBITDA (X)21.7764.67-20.590.00
MarketCap / Net Operating Revenue (X)1.751.732.860.00
Price / BV (X)0.640.620.520.00
Price / Net Operating Revenue (X)1.751.732.860.00
EarningsYield-0.02-0.04-0.150.00

Max India Ltd Profitability Ratios (%)

Max India Ltd Liquidity Ratios

Max India Ltd Liquidity Ratios (%)

Max India Ltd Interest Coverage Ratios (X)

Max India Ltd Valuation Ratios

Fair Value / Intrinsic Value of Max India Ltd

Fair Value: ₹34.06

The stock is overvalued by 81.98% compared to the current price ₹189

*Investments are subject to market risks

Strength and Weakness of Max India Ltd

StrengthWeakness
  1. The company has higher reserves (564.80 cr) compared to borrowings (89.60 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (189.60 cr) and profit (25.00 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of -1.75 and average Dividend Yield of -7.23%.
  2. The stock has a low average ROCE of -0.75%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 394.50, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 135.50, which may not be favorable.

Should I Buy Max India Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Max India Ltd:
    1. Net Profit Margin: -4.53%
      • 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: 0.75% (Industry Average ROCE: 13.06%)
      • 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. Interest Coverage Ratio (Post Tax): -0.46
      • 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.
    4. Quick Ratio: 2.54
      • 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.
    5. ✓ Stock P/E of N/A (Industry average Stock P/E: 75.38)
      • 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.
    6. ✓ Total Debt / Equity: 0.04
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Max India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE