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Max India Ltd
(MAXIND)
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Rating:51Neutral
Price Target:
₹174.00
▼(-6.98% Downside)
Action:Reiterated
Date:05/29/26
The score is held back primarily by weak financial performance (large recent losses and multi-year negative operating/free cash flow). Technical indicators provide partial support (price above key short/intermediate moving averages and positive MACD), but valuation remains constrained by loss-making results (negative P/E) and no dividend data.
Positive Factors
Recurring senior-care revenue model
Max India’s core business collects recurring resident and service fees tied to assisted-living and care plans. Recurring, occupancy-linked revenue is a durable cash-flow foundation in eldercare, supporting predictable revenue scaling and customer lifetime value once occupancy and unit economics stabilize.
Negative Factors
Multi-year negative operating and free cash flow
Three consecutive years of negative operating and free cash flow create persistent funding needs and increase reliance on external capital or asset dilution. Ongoing cash burn undermines sustainability, raising refinancing and execution risk if the company cannot restore positive cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring senior-care revenue model
Max India’s core business collects recurring resident and service fees tied to assisted-living and care plans. Recurring, occupancy-linked revenue is a durable cash-flow foundation in eldercare, supporting predictable revenue scaling and customer lifetime value once occupancy and unit economics stabilize.
Read all positive factors
Max India Ltd (MAXIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.76B
Dividend YieldN/A
Average Volume (3M)27.13K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue Growth30.98%
EPS Growth22.50%
CountryIN
Employees20
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-23.80
Shares Outstanding52,582,863
10 Day Avg. Volume4,474
30 Day Avg. Volume27,134
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 through its senior-care business, which generates revenue by providing eldercare services to customers (typically on a recurring basis tied to accommodation and care plans). Key revenue streams generally include...
Max India Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.91B | 1.45B | 1.58B | 2.13B | 1.69B |
| Gross Profit | -130.70M | -26.20M | 942.71M | 1.17B | 1.06B |
| EBITDA | -820.80M | -1.12B | -376.40M | 92.77M | 823.00K |
| Net Income | -1.22B | -1.40B | -563.76M | -104.00M | -161.36M |
Balance Sheet | |||||
| Total Assets | 6.69B | 6.33B | 6.84B | 7.53B | 8.54B |
| Cash, Cash Equivalents and Short-Term Investments | 943.80M | 1.43B | 2.96B | 3.86B | 3.99B |
| Total Debt | 962.10M | 1.02B | 435.65M | 453.00M | 607.63M |
| Total Liabilities | 2.61B | 2.74B | 1.92B | 2.11B | 2.17B |
| Stockholders Equity | 4.08B | 3.59B | 4.92B | 5.42B | 6.37B |
Cash Flow | |||||
| Free Cash Flow | -1.36B | -1.47B | -1.31B | 657.50M | 597.96M |
| Operating Cash Flow | -846.60M | -1.12B | -1.02B | 694.10M | 664.96M |
| Investing Cash Flow | -618.70M | 306.30M | 1.59B | 1.24B | 322.51M |
| Financing Cash Flow | 1.50B | -124.13M | -289.96M | -1.19B | -939.41M |
Max India Ltd Technical Analysis
Positive
187.05
Price Trends
161.58
Positive
156.23
Positive
174.90
Negative
Market Momentum
0.04
Negative
58.20
Neutral
56.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAXIND, the sentiment is Positive. The current price of 187.05 is above the 20-day moving average (MA) of 161.35, above the 50-day MA of 161.58, and above the 200-day MA of 174.90, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 58.20 is Neutral, neither overbought nor oversold. The STOCH value of 56.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹1.26T | 65.91 | ― | 0.27% | 15.76% | 34.29% | |
67 Neutral | ₹728.08B | 70.27 | ― | 0.11% | 17.28% | 34.55% | |
64 Neutral | ₹416.08B | 50.65 | ― | 0.24% | 41.43% | 2.10% | |
63 Neutral | ₹422.17B | 107.99 | ― | 0.84% | 12.20% | -93.03% | |
61 Neutral | ₹1.08T | 73.70 | ― | 0.14% | 19.14% | 34.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹8.76B | -6.79 | ― | ― | 30.98% | 22.50% |
* General Sector Average
IN:MAXIND
Max India Ltd
161.60
-22.30
-12.13%
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Max India Ltd Corporate Events
Max India Board Clears Auditor Reappointment, Fund Reallocation and Subsidiary Guarantees
May 28, 2026
Max India Ltd’s board has approved several measures including the re-appointment of MGC Global Risk Advisory LLP as internal auditor for FY 2026-27 and amendments to its related party transactions policy, signalling a continued focus on gove...
Max India Tightens Governance, Reallocates Rights Issue Funds and Backs Subsidiary Loans
May 28, 2026
Max India Ltd’s board has approved several governance and capital allocation measures at its May 28 meeting, including the re-appointment of MGC Global Risk Advisory LLP as internal auditor for FY 2026-27 and amendments to its related party ...
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.