Want to see IN:MAXHEALTH full AI Analyst Report?
Top Page
Max Healthcare Institute Ltd
(MAXHEALTH)
Select Model
Select Model
Rating:55Neutral
Price Target:
₹899.00
â–¼(-25.23% Downside)
Action:Reiterated
Date:08/22/26
The score is anchored by solid financial performance driven by revenue scale-up and profitability, but it is materially held back by weak and volatile free-cash-flow generation and a sharp increase in debt in 2026. Technicals are bearish with price below major moving averages and negative MACD, and valuation is unattractive due to a high P/E with a very low dividend yield.
Positive Factors
Revenue growth and profitability
Sustained revenue expansion alongside strong gross margins indicates continued demand for the hospital network’s services and operating scale. This combination supports reinvestment in clinical capacity and technology while providing a durable foundation for earnings growth over the coming quarters.
Negative Factors
Sharp recent debt increase
The sharp increase in debt changes the company’s financial risk profile from its previously low-leverage position. Higher obligations can constrain capital allocation, increase sensitivity to financing costs, and reduce flexibility if operating performance or investment needs weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and profitability
Sustained revenue expansion alongside strong gross margins indicates continued demand for the hospital network’s services and operating scale. This combination supports reinvestment in clinical capacity and technology while providing a durable foundation for earnings growth over the coming quarters.
Read all positive factors
Max Healthcare Institute Ltd (MAXHEALTH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹852.91B
Dividend Yield0.23%
Average Volume (3M)339.17K
Price to Earnings (P/E)59.0
Beta (1Y)1.06
Revenue Growth15.96%
EPS Growth26.87%
CountryIN
Employees25,895
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)14.97
Shares Outstanding973,310,240
10 Day Avg. Volume488,005
30 Day Avg. Volume339,171
Financial Highlights & Ratios
PEG Ratio1.90
Price to Book (P/B)8.67
Price to Sales (P/S)11.13
P/FCF Ratio626.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)18.81
Revenue Forecast (FY)₹119.93B
Max Healthcare Institute Ltd Business Overview & Revenue Model
Company Description
Max Healthcare Institute Limited provides medical and healthcare services in India. It offers services in various specialties, including cardiac sciences, orthopedics, oncology, renal sciences, neurosciences, minimal access and general surgery, pu...
How the Company Makes Money
Max Healthcare primarily generates revenue by delivering hospital-based medical services to patients and receiving payments from a mix of sources including self-pay patients, government/third-party schemes (where applicable), and health insurers/T...
Max Healthcare Institute Ltd Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 87.12B | 83.73B | 70.28B | 54.06B | 45.63B | 39.37B |
| Gross Profit | 49.17B | 65.83B | 43.77B | 33.53B | 28.31B | 21.89B |
| EBITDA | 23.96B | 23.57B | 18.87B | 15.20B | 12.56B | 9.79B |
| Net Income | 14.57B | 14.42B | 10.76B | 10.58B | 11.04B | 6.05B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 172.31B | 152.14B | 120.00B | 101.02B | 91.89B |
| Cash, Cash Equivalents and Short-Term Investments | 6.66B | 7.71B | 6.82B | 9.80B | 13.74B | 4.81B |
| Total Debt | 0.00 | 34.78B | 30.10B | 13.05B | 6.89B | 11.33B |
| Total Liabilities | -107.47B | 64.84B | 58.34B | 35.92B | 26.92B | 29.07B |
| Stockholders Equity | 107.47B | 107.47B | 93.81B | 84.08B | 74.10B | 62.82B |
Cash Flow | ||||||
| Free Cash Flow | -413.10M | 1.49B | 4.94B | 3.36B | 8.74B | 1.87B |
| Operating Cash Flow | 8.18B | 16.33B | 14.59B | 11.22B | 12.09B | 7.48B |
| Investing Cash Flow | -9.66B | -16.89B | -16.32B | -12.85B | -11.87B | -7.72B |
| Financing Cash Flow | -353.20M | 592.70M | -1.64B | -2.64B | -2.89B | -2.94B |
Max Healthcare Institute Ltd Technical Analysis
Negative
1202.35
Price Trends
1016.94
Negative
1039.43
Negative
1028.72
Negative
Market Momentum
-33.75
Positive
22.94
Positive
6.25
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAXHEALTH, the sentiment is Negative. The current price of 1202.35 is above the 20-day moving average (MA) of 998.05, above the 50-day MA of 1016.94, and above the 200-day MA of 1028.72, indicating a bearish trend. The MACD of -33.75 indicates Positive momentum. The RSI at 22.94 is Positive, neither overbought nor oversold. The STOCH value of 6.25 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAXHEALTH.
Max Healthcare Institute Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹343.10B | 63.42 | ― | 0.08% | 21.27% | 4.09% | |
64 Neutral | ₹590.47B | 113.43 | ― | 0.59% | 15.70% | -2.76% | |
62 Neutral | ₹345.58B | 42.86 | ― | 0.27% | 57.80% | 4.07% | |
60 Neutral | ₹576.79B | 56.65 | ― | 0.13% | 17.50% | 20.65% | |
59 Neutral | ₹1.10T | 55.23 | ― | 0.26% | 17.20% | 32.79% | |
55 Neutral | ₹852.91B | 59.04 | ― | 0.23% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MAXHEALTH
Max Healthcare Institute Ltd
876.30
-278.10
-24.09%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
7,667.00
5.81
0.08%
IN:ASTERDM
Aster DM Healthcare Ltd.
677.40
-7.90
-1.15%
IN:FORTIS
Fortis Healthcare Ltd.
764.00
-298.87
-28.12%
IN:MEDANTA
Global Health Limited
1,276.05
-72.22
-5.36%
IN:NH
Narayana Hrudayalaya Ltd.
1,691.05
-75.97
-4.30%
Max Healthcare Institute Ltd Corporate Events
Max Healthcare updates on adjourned NCLT case involving Kalinga Hospital subsidiary
Sep 29, 2026
Max Healthcare Institute Ltd has updated exchanges on ongoing legal proceedings involving its subsidiary Kalinga Hospital Ltd and BRS Capital Two Pte. Limited, which has filed petitions before the National Company Law Tribunal’s Cuttack Benc...
Max Healthcare Seeks Shareholder Nod on ESOP Scheme, MD Pay and MoA Change via E-Vote
Sep 20, 2026
Max Healthcare Institute Ltd has initiated a shareholder approval process via postal ballot, conducted exclusively through remote e-voting, in line with Indian company law, SEBI listing norms, and recent Ministry of Corporate Affairs circulars. Th...
Max Healthcare Seeks Shareholder Nod on RSU Plan, MD Pay and MoA Change via Postal Ballot
Sep 19, 2026
Max Healthcare Institute Limited has initiated a postal ballot process to seek shareholder approval via remote e-voting on several strategic resolutions, including a new performance-linked restricted stock unit (RSU) scheme for eligible employees....
Max Healthcare to Engage Investors at Jefferies India Forum 2026
Sep 14, 2026
Max Healthcare Institute Ltd has announced that its representatives will participate in Jefferies’ 5th India Forum 2026, scheduled for September 16, 2026, at The Oberoi in Gurgaon. The participation will involve physical one-on-one and group...
Max Healthcare to Engage Investors at J.P. Morgan India Conference 2026
Sep 14, 2026
Max Healthcare Institute Ltd, one of India’s leading listed healthcare providers, has announced its participation in the J.P. Morgan India Conference 2026, scheduled to be held physically at St. Regis, Mumbai. Representatives of the company ...
Max Healthcare Updates NCLT Proceedings Involving Kalinga Hospital Subsidiary
Aug 19, 2026
Max Healthcare Institute Ltd is a major private hospital operator in India, providing tertiary and quaternary healthcare services through a network of facilities that includes subsidiaries such as Kalinga Hospital Ltd. The company focuses on deliv...
Max Healthcare Shares Investor Presentation Ahead of Global Conference
Aug 17, 2026
Max Healthcare Institute Ltd, a major Indian hospital and healthcare services operator, runs multi-specialty facilities in key urban centres. The company is listed on the National Stock Exchange and BSE under the symbols MAXHEALTH and 543220, refl...
Max Healthcare to Join Motilal Oswal Global Investor Conference in Mumbai
Aug 12, 2026
Max Healthcare Institute Ltd operates in India’s healthcare services industry, running a network of hospitals and related medical facilities with a focus on providing clinical care and allied health services to patients across key urban mark...
Max Healthcare Schedules Q1 FY27 Earnings Call for Investors
Aug 8, 2026
Max Healthcare Institute Limited has scheduled an earnings call for investors and analysts to discuss its financial results for the quarter ended June 30, 2026, with senior management leading the discussion. The call, set for August 14, 2026, will...
Max Healthcare Updates on NCLT Proceedings Involving Kalinga Hospital Subsidiary
Aug 7, 2026
Max Healthcare Institute Ltd has updated exchanges on ongoing legal proceedings involving its subsidiary Kalinga Hospital Ltd, stemming from petitions filed by legal representatives of BRS Capital Two Pte. Limited. The dispute relates to the acqui...
Max Healthcare Files Minutes of 25th AGM with Indian Stock Exchanges
Aug 6, 2026
Max Healthcare Institute Limited convened its 25th Annual General Meeting on July 30, 2026, via video conference and other audio-visual means, with the deemed venue in Mumbai and participation from its board of directors and senior management. The...
Max Healthcare Publishes Transcript of 25th AGM Held Via Video Conference
Aug 5, 2026
Max Healthcare Institute Ltd has released the transcript of its 25th Annual General Meeting, which was held on July 30, 2026 via video conference in compliance with Companies Act and SEBI listing regulations. The meeting, chaired by Managing Direc...
Max Healthcare completes dissolution process for Nigerian subsidiary
Jul 29, 2026
Max Healthcare Institute Ltd has confirmed the final regulatory step in the voluntary liquidation of its wholly owned Nigerian subsidiary, MHC Global Healthcare (Nigeria) Ltd. Following registration of the account and return of the final meeting b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.