TickerKhojHospitals & Diagnostics · Hospital/Nursing Management · NSE: MAXHEALTH · data 2026-11-01
Max Healthcare Institute Ltd
In plain words
Price: 27.5% below its 52-week high of ₹1,185.4.
Delivery: 60.3% of traded shares were kept for delivery over the last 10 sessions, against 56.4% over the last 60.
Latest results: a net profit of ₹415 cr for the quarter ended Sept 2026 (-15.5% on the same quarter a year earlier).
A description of the data, not a recommendation.
Key figures
Growth
| Revenue (last 12 months) | ₹9,146 cr |
| Net profit (last 12 months) | ₹1,381 cr |
| Sales growth, 3 years (yearly) | 22.4% |
| Profit growth, 3 years (yearly) | 9.3% |
At a glance
Promoters 23.7% (unchanged in a year), pledged 0.0%, institutions 71.5%.
P/E 60.9, P/B 7.4, dividend yield 0.2%. Price relative to earnings and book value (low is cheaper, not better).
ROE 14.3%, ROCE 12.9%, operating margin 21.3%: how much profit it earns on the money it uses.
Debt/equity 0.32, Profit growth 9.3% and sales growth 22.4% a year over 3 years.
Ratings use fixed thresholds on the latest reported figures. They describe the numbers and are not a recommendation.
Strengths and limitations
- Healthy operating margin (21.3%).
- Expensive on earnings (P/E 60.9).
Picked automatically from the latest reported figures with fixed rules; check the company's filings before relying on them.
Latest results in brief (Q2 FY27)
MAXHEALTH Q2 FY27 results (consolidated figures, as filed on NSE).
Revenue was ₹2,569.21 crore, up 20.3% YoY and up 8.6% QoQ.
Net profit was ₹414.94 crore, down 15.5% YoY and up 28.5% QoQ.
Operating margin was 27.7% (26.9% a year ago).
EPS was ₹4.26, down 15.6% YoY and up 28.3% QoQ.
MAXHEALTH के Q2 FY27 नतीजे (कंसोलिडेटेड आंकड़े, NSE पर दाखिल)।
राजस्व: ₹2,569.21 करोड़; पिछले साल की तुलना में 20.3% की बढ़त, पिछली तिमाही की तुलना में 8.6% की बढ़त।
शुद्ध मुनाफ़ा: ₹414.94 करोड़; पिछले साल की तुलना में 15.5% की गिरावट, पिछली तिमाही की तुलना में 28.5% की बढ़त।
ऑपरेटिंग मार्जिन: 27.7% (एक साल पहले 26.9%)।
EPS: ₹4.26; पिछले साल की तुलना में 15.6% की गिरावट, पिछली तिमाही की तुलना में 28.3% की बढ़त।
MAXHEALTHના Q2 FY27 પરિણામો (કન્સોલિડેટેડ આંકડા, NSE પર ફાઇલ કરેલા).
આવક (રેવન્યુ): ₹2,569.21 કરોડ; ગયા વર્ષની સરખામણીએ 20.3% વધારો, ગયા ક્વાર્ટરની સરખામણીએ 8.6% વધારો.
ચોખ્ખો નફો: ₹414.94 કરોડ; ગયા વર્ષની સરખામણીએ 15.5% ઘટાડો, ગયા ક્વાર્ટરની સરખામણીએ 28.5% વધારો.
ઓપરેટિંગ માર્જિન: 27.7% (એક વર્ષ પહેલાં 26.9%).
EPS: ₹4.26; ગયા વર્ષની સરખામણીએ 15.6% ઘટાડો, ગયા ક્વાર્ટરની સરખામણીએ 28.3% વધારો.
Written from the filed numbers. Not a recommendation.
Earnings call in brief (20 Aug 2026)
- Management said revenue grew by 16% year-on-year and operating EBITDA grew by 15% year-on-year for Q1 FY27.
- Management said average network occupancy remained above 75%, occupied bed days rose by 10% year-on-year, and ARPOB stood at INR 81,900.
- Management said net debt stood at INR 2,384 crore as of June 30, 2026, with a net debt-to-EBITDA ratio below 1.
- Management said the board approved a capital expenditure of INR 425 crore for a new 202-bed brownfield tower at Max Vaishali, expected to be commissioned before FY30.
- Management said for-profit companies can now open medical colleges following draft notifications from the National Medical Commission, prompting an in-principle board approval to enter the medical education business.
- प्रबंधन ने कहा कि वित्त वर्ष 27 की पहली तिमाही के लिए राजस्व में साल-दर-साल 16% और ऑपरेशंस एबिटा में 15% की वृद्धि दर्ज की गई।
- प्रबंधन ने कहा कि नेटवर्क की औसत ऑक्यूपेंसी 75% से अधिक रही, ऑक्यूपाइड बेड डेज़ में साल-दर-साल 10% की वृद्धि हुई, और ARPOB 81,900 रुपये रहा।
- प्रबंधन ने कहा कि 30 जून 2026 तक कुल शुद्ध ऋण 2,384 करोड़ रुपये था, और शुद्ध ऋण-से-एबिटा अनुपात 1 से कम बना रहा।
- प्रबंधन ने कहा कि बोर्ड ने मैक्स वैशाली में 202 बिस्तरों के नए ब्राउनफील्ड टॉवर के लिए 425 करोड़ रुपये के पूंजीगत व्यय को मंजूरी दी है, जिसे वित्त वर्ष 30 से पहले चालू किए जाने की उम्मीद है।
- प्रबंधन ने कहा कि राष्ट्रीय आयुर्विज्ञान आयोग की मसौदा अधिसूचना के बाद अब मुनाफे के लिए काम करने वाली कंपनियां भी मेडिकल कॉलेज खोल सकती हैं, जिससे चिकित्सा शिक्षा व्यवसाय में प्रवेश के लिए बोर्ड से सैद्धांतिक मंजूरी मिल गई है।
- મેનેજમેન્ટે જણાવ્યું કે નાણાકીય વર્ષ ૨૭ ના પ્રથમ ક્વાર્ટરમાં આવકમાં વાર્ષિક ધોરણે ૧૬% અને ઓપરેટિંગ એબિડામાં ૧૫% નો વધારો થયો છે.
- મેનેજમેન્ટે જણાવ્યું કે નેટવર્કની સરેરાશ ઓક્યુપન્સી ૭૫% થી વધુ રહી, ઓક્યુપાઇડ બેડ ડેઝમાં વાર્ષિક ધોરણે ૧૦% નો વધારો થયો અને ARPOB ૮૧,૯૦૦ રૂપિયા રહ્યો.
- મેનેજમેન્ટે જણાવ્યું કે ૩૦ જૂન ૨૦૨૬ ના રોજ શુદ્ધ દેવું ૨,૩૮૪ કરોડ રૂપિયા હતું, અને શુદ્ધ દેવા-થી-એબિડા ગુણોત્તર ૧ થી નીચે રહ્યો.
- મેનેજમેન્ટે જણાવ્યું કે બોર્ડે મેક્સ વૈશાલીમાં ૨૦૨ બેડના નવા બ્રાઉનફિલ્ડ ટાવર માટે ૪૨૫ કરોડ રૂપિયાના કેપિટલ ખર્ચને મંજૂરી આપી છે, જે નાણાકીય વર્ષ ૩૦ પહેલા કાર્યરત થવાની અપેક્ષા છે.
- મેનેજમેન્ટે જણાવ્યું કે નેશનલ મેડિકલ કમિશનના ડ્રાફ્ટ નોટિફિકેશન પછી હવે નફા માટે કામ કરતી કંપનીઓ પણ મેડિકલ કોલેજ ખોલી શકે છે, જેથી તબીબી શિક્ષણ વ્યવસાયમાં પ્રવેશવા માટે બોર્ડની સૈદ્ધાંતિક મંજૂરી મળી ગઈ છે.
What management said on the call, summarised by AI from the official transcript and checked against it. Read the transcript. Not a recommendation.
Smart-money activity
29/100 · Neutral over the last ~60 sessions, data 2026-10-30
- Delivery vs usual 9/30: Delivery 58.3% over the last 20 sessions vs 55.7% in the 40 before (1.05x); shares delivered per day 1.69x usual; 0 delivery-spike days (3x usual shares delivered, 40%+ delivery) in the last 20 sessions.
- Bulk/block deals 0/20: No bulk or block deals in the last 90 days.
- Insider / SAST buys 0/15: No insider buy or SAST acquisition filings in the last 90 days. Insider sells are not collected by the site, so only buy filings count.
- Mutual fund holding 13/15: 37 schemes hold it, about ₹4,284 cr in all (as of 2026-09-30). Latest monthly portfolios only (top 60 holdings per scheme); month-on-month change is not stored.
- Accumulation evidence 2/15: Verdict "None", sustained score 51/100.
- Promoter pledges 5/5: No promoter pledge filings in 90 days.
A description of recorded activity (delivery, deals, insider buys, fund holding, pledges), not a recommendation. Today's most active stocks.
Story so far
● Results ● Dividend
- 30 Oct 26Results Q2 FY27 results: profit −15.5% YoY
- 13 Aug 26Results Q1 FY27 results: profit +4.9% YoY +0.1% next session
- 3 Jul 26Dividend Dividend ₹2 (ex-date) +0.5% next session
- 21 May 26Results Q4 FY26 results: profit +7.3% YoY -4.9% next session
- 5 Feb 26Results Q3 FY26 results: profit +26.0% YoY +1.4% next session
- 14 Nov 25Results Q2 FY26 results: profit +74.3% YoY +2.1% next session
- 13 Aug 25Results Q1 FY26 results: profit +30.3% YoY -3.2% next session
- 4 Jul 25Dividend Dividend ₹1.5 (ex-date) -0.1% next session
- 20 May 25Results Q4 FY25 results: profit +27.2% YoY -3.9% next session
- 30 Jan 25Results Q3 FY25 results: profit −17.5% YoY +3.5% next session
- 5 Nov 24Results Q2 FY25 results: profit +1.9% YoY +4.2% next session
From official exchange filings and NSE data. How the price moved after an event describes the past, not what comes next.
Quarterly results (consolidated)
| Quarter | Revenue | Net profit | Profit YoY | Op. margin | EPS ₹ |
|---|---|---|---|---|---|
| Sept 2026 | ₹2,569 cr | ₹415 cr | -15.5% | 27.7% | 4.26 |
| Jun 2026 | ₹2,366 cr | ₹323 cr | +4.9% | 25.3% | 3.32 |
| Mar 2026 | ₹2,143 cr | ₹342 cr | +7.3% | 28.3% | 3.52 |
| Dec 2025 | ₹2,068 cr | ₹301 cr | +26.0% | 26.0% | 3.1 |
Shareholding trend
| Holder | Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 |
|---|---|---|---|---|
| Promoters | 23.71% | 23.71% | 23.71% | 23.72% |
| Foreign institutions (FII) | 40.52% | 41.78% | 45.39% | 50.55% |
| Domestic institutions (DII) | 31.00% | 29.96% | 26.32% | 21.20% |
| Mutual funds | 19.25% | 18.68% | 16.30% | 14.04% |
| Retail investors | 2.31% | 2.29% | 2.33% | 2.21% |
| Number of shareholders | 2,22,167 | 2,24,606 | 2,16,996 | 2,03,837 |
Common questions
What was Max Healthcare Institute Ltd's latest quarterly profit?
Max Healthcare Institute Ltd reported a net profit of ₹415 cr for the quarter ended Sept 2026 (-15.5% on the same quarter a year earlier), on revenue of ₹2,569 cr.
How much do promoters hold in Max Healthcare Institute Ltd?
Promoters held 23.71% of Max Healthcare Institute Ltd at the end of Sept 2026, with 0.00% of promoter shares pledged.
Is Max Healthcare Institute Ltd debt-free?
Its latest reported debt-to-equity ratio is 0.32.
What is Max Healthcare Institute Ltd's P/E ratio?
About 60.9, based on the last 12 months' earnings and a price of ₹860 (data 2026-11-01).
What is the 52-week high and low of Max Healthcare Institute Ltd?
The 52-week high is ₹1,185.4 and the 52-week low is ₹797.
Mutual funds holding Max Healthcare Institute Ltd
From the monthly portfolios of the fund houses the site reads, as of 2026-09-30. 37 schemes holding about ₹4,284 cr; funds that hold it outside their top holdings may not be listed.
| Scheme | Fund house | % of fund | Value |
|---|---|---|---|
| SBI Nifty 50 ETF | SBI Mutual Fund | 0.66% | ₹1,340 cr |
| Nippon India Growth Mid Cap Fund | Nippon India Mutual Fund | 1.46% | ₹733 cr |
| SBI Aggressive Hybrid Fund | SBI Mutual Fund | 0.76% | ₹655 cr |
| NIPPON INDIA ETF NIFTY 50 BEES | Nippon India Mutual Fund | 0.66% | ₹430 cr |
| Mirae Asset Large Cap Fund | Mirae Asset Mutual Fund | 0.76% | ₹271 cr |
| NIPPON INDIA PHARMA FUND | Nippon India Mutual Fund | 2.70% | ₹248 cr |
| SBI Healthcare Opportunities Fund | SBI Mutual Fund | 3.80% | ₹223 cr |
| SBI Nifty Index Fund | SBI Mutual Fund | 0.66% | ₹87 cr |
| Mirae Asset Healthcare Fund | Mirae Asset Mutual Fund | 2.35% | ₹82 cr |
| ADITYA BIRLA SUN LIFE LARGE & MID CAP FUND | Aditya Birla Sun Life Mutual Fund | 0.98% | ₹55 cr |
| Mirae Asset Nifty 50 ETF | Mirae Asset Mutual Fund | 0.66% | ₹34 cr |
| NIPPON INDIA INDEX FUND - NIFTY 50 PLAN | Nippon India Mutual Fund | 0.66% | ₹23 cr |
| ADITYA BIRLA SUN LIFE NIFTY 50 ETF | Aditya Birla Sun Life Mutual Fund | 0.66% | ₹21 cr |
| SBI Nifty50 Equal Weight Index Fund | SBI Mutual Fund | 1.88% | ₹19 cr |
| ADITYA BIRLA SUN LIFE NIFTY 50 EQUAL WEIGHT INDEX FUND | Aditya Birla Sun Life Mutual Fund | 1.88% | ₹10 cr |
Compared with similar companies
| Company | Price | Market cap | P/E | P/B | ROE | ROCE | Debt/eq. | 1-yr return |
|---|---|---|---|---|---|---|---|---|
| Max Healthcare Institute Ltd | ₹860 | ₹83,705 cr | 60.9 | 7.4 | 14.3% | 12.9% | 0.32 | -27.5% |
| Apollo Hospitals Enterprise Limited | ₹8,448 | ₹1,20,779 cr | 58.2 | — | 21.9% | 18.5% | 0.9 | +8.8% |
| Manipal Health Enterprises Limited | ₹669.15 | ₹87,926 cr | — | — | 12.5% | 11.5% | 1.53 | +2.6% |
| Aster DM Quality Care Limited | ₹681.15 | ₹59,570 cr | 110.5 | — | 9.7% | 10.3% | 0.49 | -2.7% |
| Fortis Healthcare Ltd. | ₹768.15 | ₹58,117 cr | 55.3 | — | 11.1% | 12.3% | 0.35 | -27.2% |
| Narayana Hrudayalaya Ltd. | ₹1,720.2 | ₹35,144 cr | 40.7 | 7 | 19.8% | 14.5% | 1.29 | -4.4% |
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