Max Healthcare Institute Limited — PPTs, 19-11-2025: Investor Presentation

Max Healthcare (MAXHEALTH) reports strong H1 FY26 performance.

**Business Performance:** Net revenue rose 24% YoY to ₹5,039 Cr, with Operating EBITDA up 23% to ₹1,308 Cr. PAT surged 40% to ₹899 Cr (incl. one-time gain). Occupancy hit ~76% and ARPOB was ₹78,000. Strong metro presence and top specialties like Oncology fueled this growth.

**Growth Drivers or Strategy:** MAXHEALTH plans to double bed capacity in 4-5 years, adding 8,300+ beds via brownfield expansions and asset-light models. Digital platforms like 'Max MyHealth' are enhancing patient experience and efficiency. Expansion of Max Lab (pathology) and Max@Home (homecare) services is ongoing.

**Recent Developments:** New brownfield towers at Mohali (+160 beds) and Nanavati-Max Phase 1 (+268 beds) are now operational, boosting capacity. The Jaypee hospital acquisition in Noida is integrating, alongside progress on other asset-light projects.

**Key Financial Metrics (H1 FY26):** Net Revenue ₹5,039 Cr, Operating EBITDA ₹1,308 Cr, PAT ₹899 Cr. ROCE is ~28% with Net Debt at ₹1,966 Cr.

**Management Commentary / Outlook:** Management expects strong cash generation and low leverage to power future expansion. Focus remains on high-end medical procedures and capitalizing on India's growing medical tourism market.