Max India Ltd (MAXIND) AI Stock Analysis

• Market Cap: ₹11.38B
• Dividend Yield: N/A
• Average Volume (3M): 28.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: -3.54%
• EPS Growth: -94.33%
• Country: IN
• Employees: 20
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): -5.44
• Shares Outstanding: 52,282,116
• 10 Day Avg. Volume: 72,408
• 30 Day Avg. Volume: 28,130
• PEG Ratio: -0.04
• Price to Book (P/B): 2.11
• Price to Sales (P/S): 5.21
• P/FCF Ratio: -5.14
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹219.00
• Price Target Upside: 0.60% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 45 Neutral
• Price Target: ₹219.00 ▲(0.60% Upside)

Max India Ltd's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenue, profitability issues, and liquidity challenges. Technical analysis provides a slightly positive outlook due to recent price trends, but bearish momentum indicators and valuation concerns, including a negative P/E ratio, weigh heavily on the stock's attractiveness.

Max India Ltd Business Overview & Revenue Model

Company Description

Max India Limited provides services related to senior living communities. It owns, develops, constructs, operates, and establishes residential communities for seniors. The company also offers daily living and memory care, home care, management and consultancy, and shared services, as well as medicare products. In addition, it is involved in the learning and development activities; and leasing of real estate properties. The company was formerly known as Advaita Allied Health Services Limited. Max India Limited was incorporated in 2019 and is based in Noida, India.

How the Company Makes Money

Max India Ltd generates revenue through its various business segments, which include healthcare facilities, senior living communities, and health insurance services. The company's healthcare facilities contribute to its income by offering medical services, hospital management, and patient care. Senior living communities generate revenue through occupancy fees, service charges, and related offerings for the elderly. Additionally, Max India's health insurance segment earns money by providing insurance plans, collecting premiums, and managing risk. The company may also engage in strategic partnerships and collaborations to enhance its service offerings and expand its market presence, further contributing to its revenue streams.

Max India Ltd Financial Statement Overview

Summary

Max India Ltd is experiencing substantial financial challenges across all financial statements. The income statement shows declining revenue and profitability, while the balance sheet reflects increased leverage and reduced equity. Cash flow analysis indicates significant liquidity issues and operational cash generation difficulties. The company is facing a tough financial situation, with the need for strategic realignment and operational improvements to stabilize and improve its financial health.

Income Statement

Max India Ltd's income statement reveals significant challenges. The company has experienced a persistent decline in revenue, with a notable drop in total revenue from 2023 to 2025. Gross profit margins have turned negative, reflecting inefficiencies in cost management. The net profit margin has consistently been negative, highlighting ongoing losses. EBIT and EBITDA margins also show deterioration, indicating operational inefficiencies. Overall, the income statement reflects a struggling business with declining revenue and profitability issues.

Balance Sheet

The balance sheet of Max India Ltd shows a mixed picture. The debt-to-equity ratio has increased, indicating rising leverage and financial risk. Stockholders' equity has decreased, reducing the equity cushion against liabilities. However, the company maintains a relatively high level of cash and short-term investments, providing some financial flexibility. The equity ratio has declined, suggesting increased reliance on debt financing. Overall, the balance sheet reflects rising leverage and reduced equity, raising concerns about financial stability.

Cash Flow

Cash flow analysis for Max India Ltd indicates significant challenges. The company has experienced negative operating cash flow, reflecting difficulties in generating cash from core operations. Free cash flow has also been negative, exacerbating financial strain. The operating cash flow to net income ratio is unfavorable, highlighting inefficiencies in translating income into cash flow. Overall, the cash flow statement suggests liquidity issues and operational cash generation challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.49B	1.45B	1.58B	2.13B	1.69B	1.21B
Gross Profit	367.70M	-26.20M	942.71M	1.17B	1.06B	35.37M
EBITDA	-947.30M	-1.12B	-376.40M	92.77M	823.00K	-177.47M
Net Income	-1.16B	-1.40B	-563.76M	-104.00M	-161.36M	-531.16M
Balance Sheet
Total Assets	0.00	6.33B	6.84B	7.53B	8.54B	9.98B
Cash, Cash Equivalents and Short-Term Investments	2.49B	1.43B	2.96B	3.86B	3.99B	4.47B
Total Debt	0.00	1.02B	435.65M	453.00M	607.63M	1.45B
Total Liabilities	-4.45B	2.74B	1.92B	2.11B	2.17B	3.44B
Stockholders Equity	4.45B	3.59B	4.92B	5.42B	6.37B	6.53B
Cash Flow
Free Cash Flow	0.00	-1.47B	-1.31B	657.50M	597.96M	609.16M
Operating Cash Flow	0.00	-1.12B	-1.02B	694.10M	664.96M	726.67M
Investing Cash Flow	0.00	306.30M	1.59B	1.24B	322.51M	125.23M
Financing Cash Flow	0.00	-124.13M	-289.96M	-1.19B	-939.41M	-733.10M

Max India Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 217.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 217.7 is above the 20-day moving average (MA) of 214.07, above the 50-day MA of 213.76, and above the 200-day MA of 207.88, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 54.60 is Neutral, neither overbought nor oversold. The STOCH value of 33.78 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KOPRAN	65 Neutral	₹8.48B	24.29	7.44%	1.71%	-1.83%	-41.16%
SAKAR	64 Neutral	₹8.05B	40.73	6.13%	―	21.65%	73.16%
WANBURY	62 Neutral	₹8.22B	19.08	51.51%	―	12.37%	-17.98%
KILITCH	57 Neutral	₹6.04B	20.28	13.20%	―	37.51%	122.52%
MAXIND	45 Neutral	₹11.38B	―	―	―	-3.54%	-94.33%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Max India Ltd Corporate Events

Max India Limited Announces Rs. 125 Crore Rights Issue

Max India Limited has announced a proposed rights issue of fully paid-up equity shares to raise up to Rs. 125 Crores. This initiative is aimed at eligible shareholders and is expected to strengthen the company’s financial position, potentially impacting its market presence positively. The rights issue reflects Max India’s strategic move to enhance shareholder value and support its growth objectives.