Max Healthcare Institute Ltd (MAXHEALTH) AI Stock Analysis

• Market Cap: ₹1.16T
• Dividend Yield: 0.13%
• Average Volume (3M): 79.34K
• Price to Earnings (P/E): 100.0
• Beta (1Y): 1.34
• Revenue Growth: 32.65%
• EPS Growth: 8.86%
• Country: IN
• Employees: 19,500
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 3.15
• Shares Outstanding: 972,236,450
• 10 Day Avg. Volume: 77,035
• 30 Day Avg. Volume: 79,344
• PEG Ratio: 59.54
• Price to Book (P/B): 11.29
• Price to Sales (P/S): 15.07
• P/FCF Ratio: 214.44
• 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: ₹1,345.00
• Price Target Upside: 11.86% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 64 Neutral
• Price Target: ₹1,237.00 ▲(2.88% Upside)

Max Healthcare Institute Ltd demonstrates strong financial performance, which is the most significant factor in its overall score. However, technical analysis suggests a neutral to slightly bearish trend, and the high P/E ratio indicates potential overvaluation, which negatively impacts the overall score.

Max Healthcare Institute Ltd Business Overview & Revenue Model

Company Description

Max Healthcare Institute Ltd (MAXHEALTH) is a leading healthcare provider in India, offering a comprehensive range of medical services across various sectors, including tertiary care, quaternary care, and preventive healthcare. The company operates a network of hospitals, clinics, and diagnostic centers, providing services in specialties such as cardiology, orthopedics, oncology, and neurology. MAXHEALTH is committed to delivering high-quality healthcare solutions through advanced medical technology, skilled professionals, and a patient-centric approach.

How the Company Makes Money

Max Healthcare generates revenue primarily through patient services, which include inpatient and outpatient care, surgical procedures, and diagnostic services. The company's revenue model is built on billing for medical services rendered, with a mix of direct payments from patients, insurance reimbursements, and government healthcare programs. Key revenue streams include surgical interventions, consultations, diagnostic tests, and wellness programs. Additionally, MAXHEALTH may benefit from partnerships with insurance providers and corporate clients, offering health packages and wellness solutions that contribute to its earnings. The company also invests in technology and innovation, which can enhance operational efficiency and patient satisfaction, further driving revenue growth.

Max Healthcare Institute Ltd Financial Statement Overview

Summary

Max Healthcare Institute Ltd exhibits a strong financial position with consistent revenue growth and profitability. The balance sheet remains stable with moderate leverage, and cash flow generation is robust. While the company shows promising financial health, careful attention to operating efficiency and debt levels will be crucial for sustaining long-term growth and stability.

Income Statement

Max Healthcare Institute Ltd has demonstrated impressive growth in revenue, with a consistent upward trajectory over the years. The company achieved a Gross Profit Margin of 62.3% and a Net Profit Margin of 15.3% in the latest year, reflecting strong profitability. The EBIT Margin is also noteworthy at 41.3%, indicating efficient management of operating expenses. However, the EBITDA Margin at 25.6% suggests room for improvement in operating efficiency.

Balance Sheet

The company's balance sheet showcases a strong equity position with an Equity Ratio of 61.6%. The Debt-to-Equity Ratio of 0.32 reflects prudent financial leverage, which is a positive sign in maintaining financial stability. ROE is robust at 11.5%, indicating effective utilization of equity to generate profits. However, the increase in total debt over the years warrants monitoring for potential risks.

Cash Flow

Max Healthcare Institute Ltd has shown a commendable Free Cash Flow Growth Rate of 44%, indicating enhanced cash generation capabilities. The Operating Cash Flow to Net Income Ratio of 1.36 demonstrates healthy cash flow relative to net income. The Free Cash Flow to Net Income Ratio of 0.46 suggests that the company is generating sufficient free cash flow to support its net income, though there is room for improvement.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	75.13B	70.28B	54.06B	45.63B	39.37B	25.08B
Gross Profit	46.75B	43.77B	33.53B	28.31B	21.89B	12.76B
EBITDA	19.09B	18.31B	14.82B	12.23B	9.47B	3.90B
Net Income	11.48B	10.76B	10.58B	11.04B	6.05B	-1.38B
Balance Sheet
Total Assets	0.00	152.14B	120.00B	101.02B	91.89B	85.44B
Cash, Cash Equivalents and Short-Term Investments	6.62B	6.82B	9.80B	13.74B	4.81B	6.27B
Total Debt	0.00	30.10B	15.08B	6.89B	11.33B	13.25B
Total Liabilities	-93.81B	58.34B	35.92B	26.92B	29.07B	29.06B
Stockholders Equity	93.81B	93.81B	84.08B	74.10B	62.82B	56.39B
Cash Flow
Free Cash Flow	0.00	4.94B	3.36B	8.74B	1.87B	-5.60M
Operating Cash Flow	0.00	14.59B	11.22B	12.09B	7.48B	1.18B
Investing Cash Flow	0.00	-16.32B	-12.85B	-11.87B	-7.72B	-730.00M
Financing Cash Flow	0.00	-1.64B	-2.64B	-2.89B	-2.94B	1.91B

Max Healthcare Institute Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1202.35
• 50DMA: Positive
• 100DMA: Negative
• 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:MAXHEALTH, the sentiment is Positive. The current price of 1202.35 is above the 20-day moving average (MA) of 1161.23, above the 50-day MA of 1168.68, and above the 200-day MA of 1147.11, indicating a bullish trend. The MACD of 9.12 indicates Negative momentum. The RSI at 55.09 is Neutral, neither overbought nor oversold. The STOCH value of 47.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAXHEALTH.

Max Healthcare Institute Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MEDANTA	―	₹372.21B	68.98	―	0.04%	15.42%	10.66%
NH	―	₹362.74B	45.97	―	0.25%	12.09%	-2.79%
KIMS	―	₹288.08B	76.52	―	―	24.71%	19.17%
FORTIS	―	₹824.98B	94.33	―	0.09%	14.04%	32.99%
MAXHEALTH	―	₹1.16T	99.96	―	0.13%	32.65%	8.86%
APOLLOHOSP	―	₹1.14T	72.27	―	0.24%	14.31%	51.71%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Max Healthcare Institute Ltd Corporate Events

Max Healthcare Receives ESG Rating Score of 74

Max Healthcare Institute Ltd has been independently assigned an ESG rating score of ’74’ by CFC Finlease, a SEBI registered ESG Rating Provider. This rating was based on the company’s public disclosures, and it highlights the company’s performance in environmental, social, and governance aspects, potentially impacting its reputation and stakeholder confidence.

Max Healthcare Reports No Demat Requests for Q3 2025

Max Healthcare Institute Ltd has announced that it has not received any requests for the dematerialization of shares during the quarter ending September 30, 2025, as confirmed by their registrar and share transfer agent, MUFG Intime India Private Limited. This announcement indicates stability in the company’s shareholding structure and is available on the company’s website, reflecting transparency in their operations.

Max Healthcare’s Credit Rating Reaffirmed Amid Subsidiary Merger Plans

Max Healthcare Institute Ltd announced that CARE Ratings Limited has reaffirmed its credit rating, reflecting stability in its financial standing. Additionally, the credit ratings of its material subsidiary, Crosslay Remedies Limited, were reviewed in light of a proposed merger, with some ratings placed on watch with developing implications, indicating potential future changes.

Max Healthcare Expands Equity Through Employee Stock Option Allotment

Max Healthcare Institute Ltd announced the allotment of 9,588 equity shares under its Employee Stock Option Scheme 2020, approved by the Nomination & Remuneration Committee. This allotment increases the company’s paid-up equity share capital, reflecting its commitment to rewarding employees and enhancing shareholder value, although it is not considered material in nature.

Max Healthcare to Engage in Key Investor Conferences in September 2025

Max Healthcare Institute Ltd has announced its participation in several upcoming investor conferences, including the Motilal Annual Global Investor Conference, CITIC CLSA Flagship Investors’ Forum, Jefferies India Forum, and J.P. Morgan Annual India Conference. These events, scheduled throughout September 2025, will involve one-on-one and group meetings, providing opportunities for the company’s leadership to engage with investors and stakeholders, potentially enhancing its market visibility and investor relations.