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Max India Ltd
(MAXIND)
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Rating:53Neutral
Price Target:
₹149.00
▼(-19.42% 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
Manageable leverage and a sizable equity base provide Max India with some financial capacity to support its investments and absorb operating volatility. This relative balance-sheet strength may reduce immediate solvency pressure, although its durability depends on containing ongoing losses and preserving the equity base.
Negative Factors
Large and Persistent Losses
The sharp deterioration from near break-even results to large operating and net losses indicates that the current business model is not converting activity into sustainable earnings. Persistent losses can erode shareholder equity, limit reinvestment capacity, and make a durable profitability recovery dependent on substantial cost or operating improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Manageable leverage and a sizable equity base provide Max India with some financial capacity to support its investments and absorb operating volatility. This relative balance-sheet strength may reduce immediate solvency pressure, although its durability depends on containing ongoing losses and preserving the equity base.
Read all positive factors
Max India Ltd (MAXIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹7.81B
Dividend YieldN/A
Average Volume (3M)6.43K
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue Growth37.21%
EPS Growth16.46%
CountryIN
Employees19
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-25.27
Shares Outstanding56,202,457
10 Day Avg. Volume4,136
30 Day Avg. Volume6,427
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
159.29
Negative
160.29
Negative
163.17
Negative
Market Momentum
-4.63
Positive
31.10
Neutral
16.83
Positive
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 148.68, above the 50-day MA of 159.29, and above the 200-day MA of 163.17, indicating a bearish trend. The MACD of -4.63 indicates Positive momentum. The RSI at 31.10 is Neutral, neither overbought nor oversold. The STOCH value of 16.83 is Positive, 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 | ₹647.04B | 120.13 | ― | 0.54% | 15.70% | -2.76% | |
62 Neutral | ₹387.55B | 46.15 | ― | 0.24% | 57.80% | 4.07% | |
60 Neutral | ₹663.61B | 62.70 | ― | 0.11% | 17.50% | 20.65% | |
59 Neutral | ₹1.25T | 59.84 | ― | 0.23% | 17.20% | 32.79% | |
55 Neutral | ₹999.64B | 68.47 | ― | 0.19% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹7.81B | -5.53 | ― | ― | 37.21% | 16.46% |
* General Sector Average
IN:MAXIND
Max India Ltd
139.70
-72.85
-34.27%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
8,712.95
851.56
10.83%
IN:ASTERDM
Aster DM Healthcare Ltd.
740.95
126.30
20.55%
IN:FORTIS
Fortis Healthcare Ltd.
868.50
-93.13
-9.68%
IN:MAXHEALTH
Max Healthcare Institute Ltd
1,032.60
-118.75
-10.31%
IN:NH
Narayana Hrudayalaya Ltd.
1,851.85
49.35
2.74%
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...
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.