Max Healthcare reported strong Q2 FY26 results: Revenue at 2,692 Cr (+21% YoY) and Operating EBITDA at 694 Cr (+23% YoY). PAT, excluding a one-time 149 Cr tax benefit, grew 16% to 406 Cr. Network occupancy stood at 77%. Management highlighted significant brownfield capacity expansions at Mohali, Nanavati-Max, and Max Smart, expected to drive future growth with immediate EBITDA positivity. Resolutions for insurance cashless facilities and CGHS tariff revisions (potential 200 Cr impact) are positive catalysts. Cash flow was impacted by lumpy institutional payments, expected to normalize. Max Lab and Max@Home continue robust growth.