Max Healthcare Institute
- Market cap
- ₹ 79,519 Cr.
- P/E
- 55.4x
- P/B
- 7.4x
- 52-week range
- 797 – 1,194.4
- ROE
- 15%
- ROCE
- 15%
- Dividend yield
- 0.2%
- Debt / equity
- 0.32
- Sector
- Healthcare Services
- Industry
- Hospital
- Listed on
- NSE, BSE
About
Max Healthcare Institute Limited is an India-based integrated healthcare provider. The Company offers an integrated suite of diagnostics and lab services, ambulatory care, consultations, surgical and non-surgical procedures, and medical treatment. Its clinical offerings span a range of therapeutic areas, including radiation therapy for cancer, and specialized treatments in oncology, neurosciences, cardiac sciences, orthopedics, renal and liver care and minimally invasive surgery. It also provides consultations across diverse medical specialties such as diabetes and endocrinology, pulmonology, nephrology, dermatology, gastroenterology, physiotherapy and rehabilitation. It also caters to specific healthcare needs, including transplant services, audiology and speech therapy, and dedicated pediatric care. It offers a home care program through Max@Home, enabling patients to receive medical attention in the comfort of their homes. Its Max Lab provides at-home diagnostic testing.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Hospital: 41 companies →Max Healthcare Institute against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)55.4 against a typical 48.9: pricier than most peers (1st = cheapest).23rd of 40
- Sales growth+16.7% against a typical +21.1% from a year earlier.22nd of 34
- Profit growth+4.9% against a typical +13% from a year earlier.20th of 31
- Share price, 3 months−23.4% against a typical −10.9%.32nd of 34
- Size₹ 79,519.5 Cr. market value against a typical ₹ 1,306.7 Cr. (1st = largest).3rd of 36
Latest announcements
Exchange filings and their impact on the company.
- Shareholders approved a new performance RSU scheme with no grants yet and a MOA objects change.
On October 19, 2026, Max Healthcare shareholders via postal ballot approved a new Performance Linked Restricted Stock Unit Scheme 2026 for employees of the company and its subsidiaries, and alteration of the main objects clause of the memorandum of association. The company said no units have been granted under the scheme yet, and no size or MOA details were disclosed. This enables future employee grants and a wider objects clause but has no immediate business impact.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA+ by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE AA+ | Stable | 12 Oct 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 12 Oct 2026 | Reaffirmed | CARE AA+ | — | CARE | ₹ 1,898.88 Cr. | |
| 10 Oct 2025 | Reaffirmed | CARE AA+ | — | CARE | ₹ 1,240.38 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 13 Aug 2026 | Financial Results | To consider and approve the financial results for the quarter ended Jun 30, 2026 |
| 21 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the quarter and financial year ended March 31, 2026 and dividend |
| 5 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 14 Nov 2025 | Financial Results | To consider and approve the financial results for the quarter and half year ended September 30, 2025 |
| 13 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 20 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the quarter and financial year ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,363 | 1,335 | 1,423 | 1,543 | 1,707 | 1,868 | 1,910 | 2,028 | 2,135 | 2,068 | 2,143 | 2,366 |
| Expenses | 976 | 949 | 1,041 | 1,156 | 1,257 | 1,369 | 1,398 | 1,505 | 1,560 | 1,529 | 1,536 | 1,768 |
| Operating Profit | 387 | 386 | 382 | 387 | 451 | 499 | 512 | 523 | 575 | 538 | 606 | 598 |
| OPM % | 28% | 29% | 27% | 25% | 26% | 27% | 27% | 26% | 27% | 26% | 28% | 25% |
| Other Income | 45 | 46 | 45 | 35 | 41 | −40 | 47 | 37 | 33 | −3 | 48 | 41 |
| Interest | 9 | 11 | 21 | 24 | 34 | 52 | 55 | 55 | 54 | 60 | 67 | 71 |
| Depreciation | 58 | 61 | 70 | 77 | 84 | 98 | 101 | 104 | 108 | 111 | 123 | 132 |
| Profit before tax | 366 | 360 | 336 | 321 | 374 | 309 | 402 | 400 | 446 | 365 | 465 | 436 |
| Tax % | 24% | 20% | 25% | 26% | 25% | 23% | 21% | 23% | −10% | 17% | 26% | 26% |
| Net Profit | 277 | 289 | 252 | 236 | 282 | 239 | 319 | 308 | 491 | 301 | 342 | 323 |
| EPS in Rs | 2.85 | 2.98 | 2.59 | 2.43 | 2.9 | 2.46 | 3.28 | 3.17 | 5.05 | 3.09 | 3.52 | 3.32 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 27%
- 3 Years
- 22%
- TTM
- 16%
- 10 Years
- —
- 5 Years
- 60%
- 3 Years
- 10%
- TTM
- 25%
- 10 Years
- —
- 5 Years
- 25%
- 3 Years
- 21%
- TTM
- —
- 10 Years
- 11%
- 5 Years
- 14%
- 3 Years
- 14%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Max Healthcare Institute | ₹ 851.50 | ₹ 79,519 Cr. | 55.4x | 7.4x | 15% | — |
| Apollo Hospitals Enterprise | ₹ 7,731.95 | ₹ 1,11,174 Cr. | 64.9x | 13.4x | 22% | 7.8% |
| Fortis Healthcare | ₹ 720.00 | ₹ 54,357 Cr. | 67.9x | 7.3x | 11.1% | 11.7% |
| Aster DM Healthcare | ₹ 651.00 | ₹ 56,817 Cr. | 102.6x | 9.3x | 9.7% | 9.2% |
| Narayana Hrudayalaya | ₹ 1,667.25 | ₹ 33,862 Cr. | 48.1x | 9.1x | 19.9% | 10.3% |
| Global Health | ₹ 1,165.00 | ₹ 31,449 Cr. | 63.7x | 8.9x | 15.2% | 12.6% |
Management
- Abhay Soi
- Executive Chairman of the Board, Managing Director
- Yogesh Kumar Sareen
- Chief Financial Officer, Senior Director
- Umesh Gupta
- Chief Human Resources Officer, Senior Director - Human Resources
- Dhiraj Aroraa
- Senior Vice President - Compliance Officer, Company Secretary
- D.N. Suresh Kumar
- Senior Vice President - Infrastructure
- Sachin Kumar
- Senior Vice President - Internal Audit
- Prashant Singh
- Director - Information Technology and Chief Information Officer
- Anas Abdul Wajid
- Senior Director and Chief Sales and Marketing Officer
Prices are delayed and for information only. Nothing on this page is investment advice.