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Max India Ltd
(MAXIND)
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Rating:53Neutral
Price Target:
₹153.00
▼(-17.25% Downside)
Action:Reiterated
Date:07/25/26
The score is held back primarily by weak financial performance—large recent losses and sustained negative operating/free cash flow—despite a comparatively supportive balance sheet. Technicals improve the outlook as the stock trades above key moving averages with positive momentum, but valuation remains constrained by negative earnings and no provided dividend yield.
Positive Factors
Manageable Leverage
Moderate leverage and a meaningful equity base provide financial capacity to support the investment platform. This is a durable buffer against funding pressure, although continued losses could gradually weaken that support.
Negative Factors
Severe Operating Losses
Persistent, sizable losses show that revenue growth has not translated into economic value creation. Deeply negative gross profit also points to fundamental pricing or cost problems that may require substantial restructuring before earnings can stabilize.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Moderate leverage and a meaningful equity base provide financial capacity to support the investment platform. This is a durable buffer against funding pressure, although continued losses could gradually weaken that support.
Read all positive factors
Max India Ltd (MAXIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹7.90B
Dividend YieldN/A
Average Volume (3M)7.80K
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth37.21%
EPS Growth16.46%
CountryIN
Employees19
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-25.27
Shares Outstanding52,582,863
10 Day Avg. Volume5,106
30 Day Avg. Volume7,805
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.54
Price to Sales (P/S)3.29
P/FCF Ratio-4.62
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)N/A
Revenue Forecast (FY)N/A
Max India Ltd Business Overview & Revenue Model
Company Description
Max India Limited focuses on delivering a range of services tailored for senior living communities. The company is actively involved in the complete lifecycle of these residential developments, from their initial creation and construction to their...
How the Company Makes Money
Max India Ltd primarily makes money as a holding/investment company through income and value creation from its underlying investments in senior care businesses (notably Antara Senior Living). Its earnings may therefore be driven by a combination o...
Max India Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.14B | 1.91B | 1.45B | 1.58B | 2.13B | 1.69B |
| Gross Profit | 477.10M | -130.70M | -26.20M | 942.71M | 1.17B | 1.06B |
| EBITDA | -843.90M | -820.80M | -1.12B | -376.40M | 92.77M | 823.00K |
| Net Income | -1.32B | -1.22B | -1.40B | -563.76M | -104.00M | -161.36M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.69B | 6.33B | 6.84B | 7.53B | 8.54B |
| Cash, Cash Equivalents and Short-Term Investments | 1.07B | 943.80M | 1.43B | 2.96B | 3.86B | 3.99B |
| Total Debt | 0.00 | 962.10M | 1.02B | 435.65M | 453.00M | 607.63M |
| Total Liabilities | -4.08B | 2.61B | 2.74B | 1.92B | 2.11B | 2.17B |
| Stockholders Equity | 4.08B | 4.08B | 3.59B | 4.92B | 5.42B | 6.37B |
Cash Flow | ||||||
| Free Cash Flow | -655.90M | -1.36B | -1.47B | -1.31B | 657.50M | 597.96M |
| Operating Cash Flow | -457.80M | -846.60M | -1.12B | -1.02B | 694.10M | 664.96M |
| Investing Cash Flow | -249.60M | -618.70M | 306.30M | 1.59B | 1.24B | 322.51M |
| Financing Cash Flow | 2.61B | 1.50B | -124.13M | -289.96M | -1.19B | -939.41M |
Max India Ltd Technical Analysis
Negative
184.90
Price Trends
161.17
Negative
160.89
Negative
165.09
Negative
Market Momentum
-3.86
Negative
41.46
Neutral
52.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAXIND, the sentiment is Negative. The current price of 184.9 is above the 20-day moving average (MA) of 153.62, above the 50-day MA of 161.17, and above the 200-day MA of 165.09, indicating a bearish trend. The MACD of -3.86 indicates Negative momentum. The RSI at 41.46 is Neutral, neither overbought nor oversold. The STOCH value of 52.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAXIND.
Max India Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹684.96B | 127.29 | ― | 0.51% | 15.70% | -2.76% | |
62 Neutral | ₹379.93B | 46.41 | ― | 0.24% | 57.80% | 4.07% | |
60 Neutral | ₹687.01B | 65.20 | ― | 0.11% | 17.50% | 20.65% | |
59 Neutral | ₹1.25T | 59.52 | ― | 0.23% | 17.20% | 32.79% | |
55 Neutral | ₹958.68B | 65.78 | ― | 0.20% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹7.90B | -5.95 | ― | ― | 37.21% | 16.46% |
* General Sector Average
IN:MAXIND
Max India Ltd
150.30
-65.90
-30.48%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
8,670.00
904.72
11.65%
IN:ASTERDM
Aster DM Healthcare Ltd.
785.80
148.95
23.39%
IN:FORTIS
Fortis Healthcare Ltd.
910.00
-31.70
-3.37%
IN:MAXHEALTH
Max Healthcare Institute Ltd
985.00
-162.56
-14.17%
IN:NH
Narayana Hrudayalaya Ltd.
1,859.10
79.45
4.46%
Max India Ltd Corporate Events
Max India Extends Rs 25 Crore Corporate Guarantee to Assisted Care Subsidiary
Jul 28, 2026
Max India Ltd has executed a corporate guarantee of Rs 25 crore in favour of Axis Bank for a credit facility being availed by its wholly owned subsidiary Antara Assisted Care Services Ltd, following board approval in May for guarantees up to Rs 75...
Max India moves AGM online and urges shareholders to update KYC details
Jul 28, 2026
Max India Limited has scheduled its seventh Annual General Meeting for August 19, 2026, to be held via video conferencing and other audio-visual means, underscoring its continued use of virtual formats for shareholder engagement. The company is pr...
Max India announces resignation of independent director Rohit Kapoor
Jul 1, 2026
Max India Ltd, a listed entity on BSE and NSE under the symbol MAXIND, operates from its corporate headquarters in Gurgaon with a registered office in New Delhi and forms part of a diversified Indian business group. The company maintains a public ...
Max India discloses resignation of independent director Rohit Kapoor
Jul 1, 2026
Max India Limited has announced that Non-Executive Independent Director Rohit Kapoor has resigned from the company’s board with effect from July 1, 2026. The resignation was formally notified to both the BSE and NSE in compliance with Regula...
Max India files investor presentation with BSE and NSE
Jun 24, 2026
Max India Limited has released an investor presentation and notified both the BSE and NSE in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The presentation, also available on the compa...
Max India Grants 8.74 Lakh ESOPs, Ups Paid-Up Capital via Share Allotment
Jun 9, 2026
Max India Ltd has expanded its employee equity incentive framework by granting 874,227 stock options under its Employee Stock Option Plan 2020 to eligible staff, with a grant price of ₹80.02 per option, set at a discount to the average marke...
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.