Financials Max Healthcare Institute Limited NSE India S.E.

Equities

MAXHEALTH

INE027H01010

Healthcare Facilities & Services

End-of-day quote NSE India S.E. 23:00:00 27/06/2024 BST 5-day change 1st Jan Change
940.6 INR +2.16% Intraday chart for Max Healthcare Institute Limited +1.34% +37.07%

Valuation

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Capitalization 1 199,033 336,359 428,177 916,222 - -
Enterprise Value (EV) 1 203,285 340,500 420,386 799,354 910,083 893,639
P/E ratio -130 x 55.6 x 38.8 x 75.7 x 59.3 x 46.2 x
Yield - - 0.23% 0.18% 0.18% 0.22%
Capitalization / Revenue 7.95 x 8.56 x 9.38 x 14.7 x 11.4 x 9.05 x
EV / Revenue 8.12 x 8.66 x 9.21 x 14.8 x 11.3 x 8.83 x
EV / EBITDA 50.3 x 36.1 x 33.9 x 53.6 x 40.2 x 31.1 x
EV / FCF - 182 x 48.1 x 233 x 134 x 73.9 x
FCF Yield - 0.55% 2.08% 0.43% 0.74% 1.35%
Price to Book 3.53 x 5.35 x 5.78 x 9.48 x 8.7 x 7.42 x
Nbr of stocks (in thousands) 965,945 969,613 970,923 971,912 - -
Reference price 2 206.0 346.9 441.0 942.7 942.7 942.7
Announcement Date 28/05/21 25/05/22 16/05/23 22/05/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Net sales 1 25,047 39,315 45,626 54,060 80,211 101,251
EBITDA 1 4,039 9,426 12,405 14,921 22,615 28,752
EBIT 1 2,298 7,214 10,083 12,471 19,073 24,533
Operating Margin 9.17% 18.35% 22.1% 23.07% 23.78% 24.23%
Earnings before Tax (EBT) 1 -686.5 7,389 10,637 13,653 19,038 24,414
Net income 1 -1,145 6,050 11,035 10,576 15,707 20,457
Net margin -4.57% 15.39% 24.19% 19.56% 19.58% 20.2%
EPS 2 -1.590 6.240 11.36 10.84 15.89 20.41
Free Cash Flow 1 - 1,872 8,736 3,430 6,779 12,088
FCF margin - 4.76% 19.15% 6.35% 8.45% 11.94%
FCF Conversion (EBITDA) - 19.86% 70.42% 22.99% 29.98% 42.04%
FCF Conversion (Net income) - 30.94% 79.16% 32.43% 43.16% 59.09%
Dividend per Share 2 - - 1.000 1.500 1.656 2.030
Announcement Date 28/05/21 25/05/22 16/05/23 22/05/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 7,956 8,019 10,002 10,183 9,742 9,388 10,003 11,371 11,412 12,145 12,850 16,799 16,892 17,895
EBITDA 1 1,601 1,681 3,600 3,620 2,458 2,103 2,644 3,188 3,134 3,403 3,374 4,581 4,673 4,990
EBIT 1 1,117 1,205 - - - - 2,072 2,612 2,564 2,800 2,816 3,775 3,792 4,132
Operating Margin 14.04% 15.03% - - - - 20.72% 22.97% 22.47% 23.05% 21.91% 22.47% 22.45% 23.09%
Earnings before Tax (EBT) 1 - - - - - - 2,164 2,652 2,814 3,007 3,035 3,849 4,164 4,314
Net income 1 - - - - - - 1,728 4,574 2,224 2,509 2,401 3,160 3,456 3,520
Net margin - - - - - - 17.28% 40.22% 19.49% 20.66% 18.68% 18.81% 20.46% 19.67%
EPS 2 1.000 0.7500 - 1.490 1.960 1.270 1.780 4.710 2.290 2.580 2.460 3.240 3.397 3.525
Dividend per Share 2 - - - - - - - - - 1.000 - - - -
Announcement Date 06/02/21 28/05/21 10/08/21 12/11/21 12/02/22 25/05/22 10/08/22 01/11/22 02/02/23 16/05/23 07/08/23 - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Net Debt 1 4,252 4,141 - 1,997 - -
Net Cash position 1 - - 7,791 13,603 6,139 22,583
Leverage (Debt/EBITDA) 1.053 x 0.4393 x - 0.1338 x - -
Free Cash Flow 1 - 1,872 8,736 3,430 6,779 12,088
ROE (net income / shareholders' equity) -3.36% 10.3% 16.1% 13.4% 15.5% 16.7%
ROA (Net income/ Total Assets) -2.2% 6.91% 11.4% 9.57% 12.2% 13.4%
Assets 1 52,102 87,600 96,455 110,509 129,072 152,997
Book Value Per Share 2 58.40 64.80 76.30 86.50 108.0 127.0
Cash Flow per Share 2 - 7.720 12.50 11.50 14.60 19.90
Capex 1 1,184 5,613 3,356 7,788 13,678 13,663
Capex / Sales 4.73% 14.28% 7.36% 14.41% 17.05% 13.49%
Announcement Date 28/05/21 25/05/22 16/05/23 22/05/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
942.7 INR
Average target price
860.3 INR
Spread / Average Target
-8.74%
Consensus
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