Max Healthcare Institute
Max Healthcare Institute Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Max Healthcare Institute Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Max Healthcare Institute Ltd trades at a P/E of 69.57× and P/B of 9.28×.
Valuation
Profitability
Growth
Financial Health
Max Healthcare Institute Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Max Healthcare Institute Ltd, switchable between annual and quarterly views, consolidated or standalone.
Max Healthcare Institute Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹1,06,310.13 Cr and reported EPS of ₹14.75.
| Period | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 2,505 | 3,931 | 4,563 | 5,406 | 7,028 | 8,373 |
| Other Income | 115 | 127 | 139 | 178 | 156 | 163 |
| Total Income | 2,619 | 4,059 | 4,702 | 5,584 | 7,184 | 8,536 |
| Cost of Goods Sold (COGS) | 594 | 923 | 922 | 1,119 | 1,477 | 1,790 |
| Gross Profit | 1,910 | 3,009 | 3,641 | 4,288 | 5,551 | 6,583 |
| +Operating Expenses | 1,506 | 2,066 | 2,400 | 2,795 | 3,703 | 4,341 |
| EBITDA | 404 | 943 | 1,241 | 1,492 | 1,849 | 2,243 |
| +Non-Operating Expenses | 120 | 313 | 316 | 305 | 451 | 633 |
| Profit Before Tax (PBT) | -69 | 739 | 1,064 | 1,365 | 1,406 | 1,676 |
| +Tax Expense | 46 | 134 | -40 | 308 | 330 | 233 |
| Profit After Tax (PAT) | -138 | 605 | 1,104 | 1,058 | 1,076 | 1,442 |
| Earnings Per Share (EPS) | -1.42 | 6.24 | 11.37 | 10.88 | 11.07 | 14.82 |
| Diluted Shares Outstanding (Nos.) | 97 | 97 | 97 | 97 | 97 | 97 |
| +Additional Disclosures | 3,026 | 4,236 | 4,560 | 5,331 | 7,177 | 8,601 |
| Sales Growth % | — | 56.97 | 16.05 | 18.49 | 30.01 | 19.14 |
| YoY Sales Growth % | — | 56.97 | 16.05 | 18.49 | 30.01 | 19.14 |
| Employee Cost % | 24 | 19 | 18 | 17 | 17 | 16 |
| Other Cost % | 37 | 33 | 35 | 34 | 36 | 36 |
| OPM % | 16 | 24 | 27 | 28 | 26 | 27 |
| Tax % | -67 | 18 | -4 | 23 | 23 | 14 |
| Profit Growth % | — | 539.88 | 82.38 | -4.16 | 1.72 | 34.07 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 230 | 721 | 1,008 | 1,247 | 1,489 | 1,796 |
Max Healthcare Institute segment analysis: revenue and profit mix.
Disclosed business segments at Max Healthcare Institute with their share of revenue and profit, switchable between consolidated and standalone reporting.
Max Healthcare Institute discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Max Healthcare Institute Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Max Healthcare Institute Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Max Healthcare Institute Ltd's investment case rests on 5 positive markers and 6 flagged concerns drawn from the latest reported filings.
What you're getting.
Max Healthcare exhibits robust quarterly sales growth, with a 31.40% increase in sales reaching ₹2028 crore, indicating strong market demand and operational efficiency. This positive trend suggests sustained revenue expansion.
The company demonstrates healthy profitability, achieving a 30.40% increase in quarterly profit to ₹308 crore. This, coupled with a 26.40% operating profit margin, points to effective cost management.
Max Healthcare's Return on Capital Employed (ROCE) of 14.90% signifies efficient asset utilization and profitability. This metric, combined with positive profit growth, highlights the company's strong financial performance.
Despite a high P/E, the company's Return on Equity (ROE) stands at a respectable 12.70%, suggesting efficient capital utilization and shareholder value creation. This indicates strong returns relative to invested capital.
FIIs hold a significant 51.80% stake as of 2025-09-01, demonstrating strong institutional investor confidence in Max Healthcare's long-term growth prospects and market position.
What can break it.
Max Healthcare's high Price-to-Earnings (P/E) ratio of 96.40 is significantly above many peers, indicating the stock might be overvalued compared to its earnings, posing a potential risk for investors.
The relatively low promoter holding of 23.74% as of 2025-09-01, a notable decrease from 50.64% in 2022-06-01, raises concerns about long-term investor confidence and stability.
The company's debt-to-equity ratio of 0.32, while moderate, could become a concern if profitability declines or interest rates rise, potentially leading to financial strain. This needs careful monitoring.
Recent five-day stock price movements show volatility, with daily fluctuations like a -2.22% drop on 2025-10-24, presenting a risk for investors seeking stable returns.
Quarterly net profit slightly declined from ₹319 crore in 2025-03-01 to ₹308 crore in 2025-06-01, suggesting a potential deceleration in profitability growth that warrants attention.
What would change my mind.
Trim if P/E re-rates above 90. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 32.87. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 9%. The operating engine is no longer compounding capital efficiently.
Max Healthcare Institute Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Max Healthcare Institute Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Max Healthcare Institute Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Max Healthcare Institute Ltd — derived from the live tape, not yesterday's close.
Max Healthcare Institute Ltd last traded at ₹1,090.45 with an intraday range of ₹1,026.5–₹1,095.6 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1090.45| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1253.40 | +162.95 | +14.94% |
| R3 | 1184.30 | +93.85 | +8.61% |
| R2 | 1139.95 | +49.50 | +4.54% |
| R1 | 1115.20 | +24.75 | +2.27% |
| PIVOT | 1070.85 | -19.60 | -1.80% |
| CURRENT | 1090.45 | — | — |
| S1 | 907.90 | -182.55 | -16.74% |
| S2 | 977.00 | -113.45 | -10.40% |
| S3 | 1001.75 | -88.70 | -8.13% |
| S4 | 1046.10 | -44.35 | -4.07% |
MAXHEALTH is trading Above CPR, indicating Bullishness
CPR is Wider, suggesting unlikely for trending moves
Day's range: 1026.5 ~ 1033.75
Trading Above opening range, showing Bullishness
Max Healthcare Institute Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Max Healthcare Institute Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Max Healthcare Institute Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Max Healthcare Institute Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Max Healthcare Institute Ltd stood at 37.8% of traded volume, against a 20-day average of 53.2%.
Max Healthcare Institute announcements: results, concalls, ratings, M&A.
Filings Max Healthcare Institute sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Max Healthcare Institute files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 159 documents below.
Disclosure under SEBI Takeover Regulations
Abhay Soi has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial…
Capacity addition
Max Healthcare Institute Limited has informed the Exchange about construction of Phase-I of Max Super Specialty Hospital, Shaheed Path, Lucknow
Updates
Max Healthcare Institute Limited has informed the Exchange regarding ' approval of re-classification of Radiant Life Care Hospital Foundation from…
Change in Director(s)
Max Healthcare Institute Limited has informed the Exchange regarding Change in Director(s) of the company.
Address Change
Max Healthcare Institute Limited has informed the Exchange regarding change in Registered Office of the company from State of Maharashtra to State of…
Investor decks & rating reports.
Max Healthcare Institute dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Max Healthcare Institute has declared, sequenced by announce and record date.
Max Healthcare Institute corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Max Healthcare Institute Ltd: business, sector, key facts.
What Max Healthcare Institute Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Max Healthcare Institute Ltd operates in the Healthcare, listed as NSE: MAXHEALTH, BSE: 543220.
Max Healthcare Institute Limited is a major provider of medical and healthcare services in India, operating a diverse network of hospitals and medical centers across the country. Their services span a wide range of specialties, encompassing advanced cardiac care, orthopedics, oncology, renal sciences, neurosciences, and various surgical disciplines such as minimal access metabolic and bariatric surgery, obstetrics, gynecology, and general surgery. The company also offers highly specialized procedures such as liver, heart, kidney, lung, and bone marrow transplants, reflecting a commitment to comprehensive and advanced medical care.
Beyond its core hospital services, Max Healthcare boasts a significant presence in ancillary healthcare sectors. Max@Home provides a convenient alternative for patients seeking health and wellness services in the comfort of their own homes, expanding accessibility and convenience. Complementing this is MaxLab, a diagnostic services arm that extends its reach beyond the company's hospital network. MaxLab utilizes various channels including collaborations with third-party hospitals to provide diagnostic services to a broader patient base.
The company's business model is built around delivering high-quality healthcare across a spectrum of services and delivery methods. This integrated approach allows Max Healthcare to cater to a wide range of patient needs, from routine check-ups and diagnostics to complex surgical procedures and long-term care. The integration of hospital services, home healthcare, and diagnostic services creates a comprehensive ecosystem that enhances patient care and expands market reach. The company's incorporation in 2001 and continued operation in Gurugram, India demonstrates a long-standing commitment to serving the Indian healthcare market.
In summary, Max Healthcare Institute Limited’s business centers around providing a wide range of medical services, leveraging an integrated model of hospital care, home healthcare, and diagnostic testing. This multifaceted approach ensures accessibility and comprehensive care across a broad patient population within the Indian healthcare landscape, and positions them as a major player in the country's healthcare industry.
Questions investors ask about Max Healthcare Institute Ltd (MAXHEALTH).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Max Healthcare Institute Ltd (MAXHEALTH)?
The current share price of Max Healthcare Institute Ltd (MAXHEALTH) is ₹1,090.45. Today, the stock has gained by ₹64.30 (6.27%), trading in a range of ₹1,026.5 to ₹1,095.6. The stock opened at ₹1,028.7 with a trading volume of 68,71,544 shares.
02Is Max Healthcare Institute Ltd stock a good investment for long-term?
Max Healthcare Institute Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹1,06,310.13 crores, P/E ratio of 69.57, ROE of 14.33%, and ROCE of 14.90%. The dividend yield stands at 0.15%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Max Healthcare Institute Ltd stock?
The 52-week high price of Max Healthcare Institute Ltd (MAXHEALTH) is ₹1,314.3, while the 52-week low is ₹903. Currently trading at ₹1,090.45, the stock is 45.6% away from its 52-week low and 17.0% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Max Healthcare Institute Ltd stock at the current price?
Whether to buy Max Healthcare Institute Ltd stock at ₹1,090.45 depends on multiple factors. The stock is currently trading with a P/E ratio of 69.57 and P/B ratio of 9.28. Today's performance shows a gain of 6.27%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Max Healthcare Institute Ltd and when is the next dividend?
Max Healthcare Institute Ltd offers a dividend yield of 0.15%, which means for every ₹100 invested at the current price of ₹1,090.45, you can expect to receive approximately ₹0.15 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Max Healthcare Institute Ltd?
Max Healthcare Institute Ltd's key financial metrics include: P/E Ratio: 69.57, P/B Ratio: 9.28, ROE: 14.33%, ROCE: 14.90%, Dividend Yield: 0.15%, EPS: ₹14.75, Book Value: ₹110.54, and Debt-to-Equity: 32.37. The company's market cap stands at ₹1,06,310.13 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Max Healthcare Institute Ltd stock performing today in the market?
Max Healthcare Institute Ltd stock opened at ₹1,028.7 and is currently trading at ₹1,090.45, showing a gain of ₹64.30 (6.27%). The intraday high is ₹1,095.6 and low is ₹1,026.5. The trading volume stands at 68,71,544 shares, indicating strong market participation today.
08What is the P/E ratio of Max Healthcare Institute Ltd and what does it indicate?
Max Healthcare Institute Ltd has a Price-to-Earnings (P/E) ratio of 69.57, which means investors are willing to pay ₹69.57 for every ₹1 of earnings. With an EPS of ₹14.75, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Max Healthcare Institute Ltd (MAXHEALTH) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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