Max Healthcare Institute Limited

BSE: MAXHEALTH543220ISIN INE027H01010

Healthcare
Hospital
BSE 100

Share price

₹926.00+32.00 (+3.58%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,187.25
52W low: ₹797.00
Off 52W high: -22.00%
1M return: +1.03%
3M return: -14.26%
6M return: -8.83%
1Y return: -18.59%
20D avg volume: 10,31,388
50 DMA: ₹947.51
200 DMA: ₹1,012.00

Key ratios Consolidated

Market cap: ₹90,129 Cr
Current price: ₹926.00
52W high / low: ₹1,187.25 / ₹797.00
Face value: ₹10.00
P/E: 65.28
P/B: 7.95
EPS (TTM): ₹14.18
Book value / share: ₹116.43
ROE: —
ROCE: 12.70%
Operating margin: —
Net margin: —
Debt / equity: 0.32
Net debt: ₹2,813 Cr
Interest cover: 8.13
Dividend yield: 0.22%
Dividend / share (TTM): ₹2.00
Payout: 14.10%
Cash conversion cycle: 9.9 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	2,569	2,366	2,143	2,068	2,135	2,028	1,910	1,868	1,707	1,543	1,423	1,335
	40.90	40.52	47.83	45.38	32.90	36.51	46.92	33.30	40.84	34.68	45.25	46.02
	2,610	2,407	2,191	2,113	2,168	2,064	1,957	1,902	1,748	1,578	1,468	1,381
	2,069	1,970	1,726	1,700	1,722	1,664	1,554	1,519	1,375	1,256	1,132	1,021
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	521.94	521.16	433.31	446.47	465.15	453.82	410.14	396.89	359.39	329.99	297.41	270.68
	399.31	388.18	340.27	340.46	338.32	338.07	315.59	304.60	283.63	270.19	241.84	230.67
	73.84	71.00	66.66	59.67	53.92	54.85	55.21	52.39	33.54	23.88	20.73	11.24
	137.63	131.66	123.02	111.27	108.10	104.14	100.83	97.54	84.15	76.90	70.32	60.96
	943.10	866.16	756.65	748.37	757.11	721.35	673.10	286.62	269.36	231.26	211.38	175.10
	540.92	436.31	464.58	412.78	446.03	400.43	402.50	382.50	373.69	321.31	335.73	359.68
	0.00	0.00	0.00	-48.24	0.00	0.00	0.00	-73.63	0.00	0.00	0.00	0.00
	540.92	436.31	464.58	364.54	446.03	400.43	402.50	308.87	373.69	321.31	335.73	359.68
	126.47	113.35	122.36	63.62	45.27	92.46	83.50	70.07	91.88	85.04	84.19	70.34
	414.45	322.96	342.22	300.92	491.30	307.97	319.00	238.80	281.81	236.27	251.54	289.34
	4.26	3.32	3.52	3.10	5.05	3.17	3.28	2.46	2.90	2.43	2.59	2.98
Key metrics
	752.39	638.97	654.26	535.48	608.05	559.42	558.54	458.80	491.38	422.09	426.78	431.88
	29.30%	27.00%	30.50%	25.90%	28.50%	27.60%	29.20%	24.60%	28.80%	27.40%	30.00%	32.40%
	16.10%	13.60%	16.00%	14.60%	23.00%	15.20%	16.70%	12.80%	16.50%	15.30%	17.70%	21.70%
	3.80%	—	3.50%	—	3.50%	—	3.40%	—	—	—	—	—
	20.30%	16.70%	12.20%	10.70%	25.10%	31.40%	34.20%	40.00%	—	—	—	—
	-15.60%	4.90%	7.30%	26.00%	74.30%	30.30%	26.80%	-17.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21
Income statement
	9,146	8,373	7,028	5,406	4,563	3,931	2,505
	174.63	162.62	155.64	178.07	139.24	127.36	114.74
	9,320	8,536	7,184	5,584	4,702	4,059	2,619
	7,466	6,812	5,704	4,219	3,638	3,311	2,454
	0.00	0.00	0.00	—	—	—	—
	1,923	1,799	1,496	1,119	936.88	930.46	580.51
	1,468	1,357	1,174	934.40	809.35	759.92	588.78
	271.17	235.10	165.02	59.89	83.86	100.87	179.46
	503.58	446.53	359.42	244.98	232.19	221.12	174.09
	3,314	2,983	2,529	744.09	604.40	496.63	384.71
	1,855	1,724	1,480	1,365	1,064	747.93	165.05
	-48.24	-48.24	-73.63	0.00	0.00	-9.03	-233.70
	1,806	1,676	1,406	1,365	1,064	738.90	-68.65
	425.80	233.17	330.49	307.68	39.79	133.85	45.85
	1,381	1,442	1,076	1,058	1,104	605.05	-137.55
	14.20	14.83	11.07	10.89	11.38	6.25	-1.59
Key metrics
	2,581	2,357	1,931	1,670	1,380	1,061	284.90
	28.22%	28.20%	27.50%	30.90%	30.20%	27.00%	11.40%
	15.09%	17.20%	15.30%	19.60%	24.20%	15.40%	-5.50%
	—	12.70%	11.70%	—	—	—	—
	15.17%	19.10%	30.00%	18.50%	16.10%	57.00%	—
	1.73%	34.10%	1.70%	-4.20%	82.40%	539.90%	—
	—	148.79	494.12	—	—	—	—
	—	1.13	1.36	—	—	—	—
	—	0.32	0.32	—	—	—	—
	—	2,813	2,349	—	—	—	—
	—	9.9	-0.8	—	—	—	—
Balance sheet
	—	17,231	15,214	—	—	—	—
	—	1,945	1,593	—	—	—	—
	—	665.80	661.58	—	—	—	—
	—	969.75	687.31	—	—	—	—
	—	114.28	106.21	—	—	—	—
	—	54.79	48.65	—	—	—	—
	—	6,980	5,462	—	—	—	—
	—	859.04	807.92	—	—	—	—
	—	2,187	1,814	—	—	—	—
	—	3,478	3,010	—	—	—	—
	—	500.38	242.68	—	—	—	—
	—	2,978	2,768	—	—	—	—
	—	10,747	9,381	—	—	—	—
Cash flow
	—	1,633	1,460	—	—	—	—
	—	-1,689	-1,632	—	—	—	—
	—	59.27	-163.80	—	—	—	—
	—	1,485	965.53	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	841.97	782.92	732.90	710.91	736.62	694.02	658.70	697.40	686.11	621.39	610.11	590.75
	49.11	92.10	91.34	83.33	47.43	79.85	98.15	92.01	133.51	42.87	137.77	42.68
	891.08	875.02	824.24	794.24	784.05	773.87	756.85	789.41	819.62	664.26	747.88	633.43
	664.93	649.11	563.86	553.40	568.39	550.99	529.62	517.60	501.47	461.10	457.26	430.10
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	181.44	186.84	152.93	160.12	166.96	159.26	145.68	139.50	135.60	120.16	112.44	104.13
	148.29	145.93	122.01	125.31	134.22	135.15	125.98	122.73	123.32	119.07	112.64	113.41
	13.72	12.07	11.20	10.75	8.67	9.25	9.43	23.47	7.85	7.64	14.74	10.00
	38.77	36.60	34.63	36.07	36.77	35.43	36.10	32.77	32.18	30.14	31.84	29.50
	283.28	269.58	241.13	221.79	222.59	213.32	211.00	81.57	84.00	74.02	76.66	69.23
	226.15	225.91	260.38	240.84	215.66	222.88	227.23	271.81	318.15	203.16	290.62	203.33
	0.00	0.00	0.00	-15.64	0.00	0.00	0.00	-73.63	—	—	—	—
	226.15	225.91	260.38	225.20	215.66	222.88	227.23	198.18	318.15	203.16	290.62	203.33
	57.82	58.31	57.17	38.25	55.24	56.85	49.84	59.94	86.85	49.02	48.85	45.21
	168.33	167.60	203.21	186.95	160.42	166.03	177.39	138.24	231.30	154.14	241.77	158.12
	1.73	1.72	2.09	1.92	1.65	1.71	1.82	1.42	2.38	1.59	2.49	1.63
Key metrics
	278.64	274.58	306.21	272.02	261.10	267.56	272.76	254.42	358.18	240.94	337.20	242.83
	33.10%	35.10%	41.80%	38.30%	35.40%	38.60%	41.40%	36.50%	52.20%	38.80%	55.30%	41.10%
	20.00%	21.40%	27.70%	26.30%	21.80%	23.90%	26.90%	19.80%	33.70%	24.80%	39.60%	26.80%
	2.20%	—	2.70%	—	2.30%	—	2.50%	—	—	—	—	—
	14.30%	12.80%	11.30%	1.90%	7.40%	11.70%	8.00%	18.10%	—	—	—	—
	4.90%	0.90%	14.60%	35.20%	-30.60%	7.70%	-26.60%	-12.60%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21
Income statement
	3,069	2,874	2,664	2,341	1,905	1,729	1,031
	315.88	301.95	366.54	271.22	144.17	125.38	106.51
	3,385	3,176	3,030	2,613	2,049	1,854	1,137
	2,431	2,237	2,010	1,748	1,486	1,451	1,073
	0.00	0.00	0.00	—	—	—	—
	681.33	639.27	540.94	429.97	354.42	446.16	237.12
	541.54	516.69	491.10	448.39	372.25	363.86	265.47
	47.74	39.87	48.39	51.66	51.91	44.08	112.45
	146.07	142.90	131.19	116.64	113.21	99.14	90.75
	1,016	898.83	799.28	277.13	229.24	200.73	164.01
	953.28	939.76	1,020	864.96	563.14	402.99	64.21
	-15.64	-15.64	-73.63	—	—	—	-210.67
	937.64	924.12	946.72	864.96	563.14	402.99	-146.46
	211.55	207.51	245.65	177.70	131.17	71.86	17.99
	726.09	716.61	701.07	687.26	694.31	331.13	-164.45
	7.46	7.37	7.21	7.07	7.16	3.42	-1.91
Key metrics
	1,131	1,107	1,126	1,033	728.26	546.21	56.74
	36.87%	38.50%	42.30%	44.10%	38.20%	31.60%	5.50%
	23.66%	24.90%	26.30%	29.40%	36.50%	19.20%	-16.00%
	—	9.40%	10.60%	—	—	—	—
	10.12%	7.90%	13.80%	22.90%	10.20%	67.70%	—
	13.08%	2.20%	2.00%	-1.00%	109.70%	301.40%	—
	—	150.61	341.64	—	—	—	—
	—	0.70	0.85	—	—	—	—
	—	0.09	0.07	—	—	—	—
	—	293.42	196.91	—	—	—	—
	—	20.2	5.9	—	—	—	—
Balance sheet
	—	10,890	9,967	—	—	—	—
	—	1,071	828.09	—	—	—	—
	—	531.52	415.51	—	—	—	—
	—	416.79	295.24	—	—	—	—
	—	30.72	29.80	—	—	—	—
	—	24.90	21.80	—	—	—	—
	—	1,426	1,353	—	—	—	—
	—	288.18	282.18	—	—	—	—
	—	666.78	583.39	—	—	—	—
	—	824.94	612.42	—	—	—	—
	—	112.14	42.33	—	—	—	—
	—	712.80	570.09	—	—	—	—
	—	8,941	8,289	—	—	—	—
Cash flow
	—	503.19	598.35	—	—	—	—
	—	-426.01	-873.26	—	—	—	—
	—	38.83	-28.81	—	—	—	—
	—	352.58	256.71	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +14.70%
Sales CAGR 5Y: +22.77%
Profit CAGR 3Y: +1.06%
Profit CAGR 5Y: —
Sales YoY (TTM): +10.12%
Profit YoY (TTM): +13.08%

Consolidated

Sales CAGR 3Y: +22.43%
Sales CAGR 5Y: +27.30%
Profit CAGR 3Y: +9.34%
Profit CAGR 5Y: —
Sales YoY (TTM): +15.17%
Profit YoY (TTM): +1.73%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 23.71%

Quarter	September 2026	June 2026
Promoter %	23.71%	23.72%

Holder	Type	Holding	Previous	Change
Abhay Soi	Promoter	23.70%	23.71%	-0.01%
Life Insurance Corporation of India through various schemes	Public	3.93%	3.00%	+0.93%
New World Fund Inc	Public	3.74%	3.29%	+0.45%
Nps Trust A/C through various schemes	Public	3.39%	3.45%	-0.06%
Government of Singapore	Public	3.33%	3.28%	+0.05%
Hdfc Mutual Fund through various schemes	Public	3.26%	3.04%	+0.22%
Invesco Mutual Fund through various schemes	Public	2.87%	2.19%	+0.68%
SBI Mutual Fund through various schemes	Public	2.59%	2.55%	+0.04%
ICICI Prudential Mutual Fund through various schemes	Public	1.83%	1.69%	+0.14%
Nippon India Mutual Fund through various schemes	Public	1.54%	1.53%	+0.01%
Axis Max Life Insurance Limited through various schemes	Public	1.45%	1.46%	-0.01%
Canara Robeco Mutual Fund through various schemes	Public	1.44%	1.43%	+0.01%
Smallcap World Fund, Inc	Public	1.23%	1.35%	-0.12%
Vanguard Total International Stock Index Fund	Public	1.13%	1.12%	+0.01%
Vanguard Emerging Markets Stock Index Fund, A Series Of Vanguard International Equity Index Funds	Public	1.08%	1.06%	+0.02%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Apollo Hospitals Enterprises Ltd.	1,23,324	8,577.00	56.78	19.50%	+19.24% TTM	+35.20% TTM	+9.78%
Max Healthcare Institute Limited	90,129	926.00	65.28	12.70%	+15.17% TTM	+1.73% TTM	-18.59%
Manipal Health Enterprises Limited	87,828	667.70	—	—	—	—	—
ASTER DM QUALITY CARE LIMITED	62,665	718.90	172.72	10.20%	+15.70% TTM	+3.89% TTM	+4.39%
Fortis Healthcare Ltd	59,710	790.90	55.79	12.00%	+17.50% TTM	+18.62% TTM	-22.35%
Narayana Hrudayalaya Limited	39,427	1,929.30	45.89	11.40%	+71.40% TTM	+1.61% TTM	+5.41%
Global Health Limited	37,682	1,401.45	61.46	15.00%	+26.18% TTM	+9.16% TTM	+12.21%
Krishna Institute of Medical Sciences Limited	31,074	739.85	159.85	8.20%	+30.90% TTM	-51.92% TTM	+3.15%
Dr. Agarwal's Health Care Limited	16,618	524.15	89.77	9.70%	—	—	+1.80%
Rainbow Children's Medicare Limited	12,990	1,278.95	43.51	16.80%	+22.83% TTM	+17.12% TTM	-8.02%
PARK MEDI WORLD LIMITED	9,958	230.55	—	18.10%	—	—	—
YATHARTH HOSPITAL & TRAUMA CARE SERVICES LIMITED	9,900	1,027.45	54.50	11.00%	+50.40% TTM	+19.12% TTM	+25.09%
HealthCare Global Enterprises Limited	9,286	621.95	279.19	6.90%	+13.77% TTM	-19.23% TTM	—
Jupiter Life Line Hospitals Limited	9,178	279.95	49.57	13.80%	+16.71% TTM	-6.85% TTM	-9.74%
Paras Healthcare Limited	8,135	751.85	—	—	—	—	—
Kovai Medical Center & Hospital Ltd S	6,561	5,996.35	25.97	20.60%	+14.96% TTM	+16.29% TTM	-1.95%
Artemis Medicare Services Limited	4,758	300.60	41.36	13.70%	+14.77% TTM	+21.46% TTM	+22.59%
Indraprastha Medical Corporation Lt S	3,092	337.25	16.09	30.70%	+10.72% TTM	+9.95% TTM	-44.21%
Dr.Agarwals Eye Hospital Ltd. S	2,616	5,413.80	34.33	16.10%	+20.01% TTM	+31.87% TTM	+2.39%
KMC Speciality Hospitals India Limited S	2,453	150.40	43.98	24.60%	+35.05% TTM	+137.83% TTM	+118.35%
Shalby Limited	1,336	123.70	35.06	7.90%	+7.27% TTM	+17,422.73% TTM	-49.15%
GUJARAT KIDNEY AND SUPER SPECIALITY LIMITED	1,260	159.75	75.29	8.60%	—	—	—
GPT Healthcare Limited S	1,152	140.45	24.38	16.40%	+18.07% TTM	-0.78% TTM	-5.48%
Rays of Belief Limited	528	252.45	—	—	—	—	—
ASARFI HOSPITAL LIMITED	347	176.40	—	18.40%	—	—	+22.97%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Schedule of Investor Conference4 Nov 2026 · Company Update / Analyst / Investor Meet
Audio Recording of Earnings Call held on November 3, 20263 Nov 2026 · Company Update / General
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20153 Nov 2026 · Company Update / General
Newspaper Publication pertaining to Financial Results for the quarter and half year ended September 30, 202631 Oct 2026 · Company Update / Newspaper Publication
Change in Senior Management Personnel30 Oct 2026 · Company Update / Change in Management
Presentation of earnings update for the quarter and half year ended September 30, 202630 Oct 2026 · Company Update / General
Press Release - Max Healthcare Q2 revenue rises to Rs. 3,219 Cr, registering growth of 20% YoY; Q2 PAT stood at Rs. 448 Cr, growth of 10% YoY30 Oct 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting held on October 30, 202630 Oct 2026 · Board Meeting / Outcome of Board Meeting
Result - Financial Results for the quarter and half year ended September 30, 202630 Oct 2026 · Result / Financial Results
Allotment of Equity Shares under Max Healthcare Institute Limited - Employee Stock Option Scheme 202230 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Grant of options under Max Healthcare Institute Limited - Employee Stock Option Scheme 202230 Oct 2026 · Company Update / General
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201529 Oct 2026 · Company Update / General
Minutes of Postal Ballot27 Oct 2026 · AGM/EGM / Postal Ballot
Schedule of Earnings Call for Investors and Analysts23 Oct 2026 · Company Update / Analyst / Investor Meet
Max Healthcare Institute Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/10/2026 ,inter alia, to consider and approve unaudited standalone ....23 Oct 2026 · Board Meeting / Board Meeting
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201519 Oct 2026 · Company Update / General
Voting Results and Scrutinizer''s Report on Postal Ballot19 Oct 2026 · AGM/EGM / Postal Ballot
Voting Results and Scrutinizer''s Report on Postal Ballot19 Oct 2026 · AGM/EGM / Postal Ballot
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201516 Oct 2026 · Company Update / General
Rating by CARE Ratings Limited9 Oct 2026 · Company Update / Credit Rating
Rating by CARE Ratings Limited9 Oct 2026 · Company Update / Credit Rating
Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 20187 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201529 Sep 2026 · Company Update / General
Closure of Trading Window25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper Publication - Postal Ballot Notice20 Sep 2026 · Company Update / Newspaper Publication
Postal Ballot Notice19 Sep 2026 · AGM/EGM / Postal Ballot
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201518 Sep 2026 · Company Update / General
Schedule of Investor Conference14 Sep 2026 · Company Update / Analyst / Investor Meet
Schedule of Investor Conference14 Sep 2026 · Company Update / Analyst / Investor Meet
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201511 Sep 2026 · Company Update / General
Newspaper publication in Form INC-26 regarding shifting of Registered office7 Sep 2026 · Company Update / Newspaper Publication
Update on infusion of funds in Kalinga Hospital Ltd.7 Sep 2026 · Company Update / Acquisition
Allotment of Equity Shares under Max Healthcare Institute Limited - Employee Stock Option Scheme 20224 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Infusion of funds in Kalinga Hospital Ltd.3 Sep 2026 · Company Update / Acquisition
Press Release - Hon''ble Union Home Minister and Cooperation Minister Shri Amit Shah Inaugurates New 400 Beds Tower at Max Smart Super Speciality Hospital, Saket3 Sep 2026 · Company Update / Press Release / Media Release
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201526 Aug 2026 · Company Update / General
Transcript of Earnings Call held on August 14, 202620 Aug 2026 · Company Update / Earnings Call Transcript
Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201519 Aug 2026 · Company Update / General
Presentation for Investor Conference17 Aug 2026 · Company Update / Investor Presentation
Newspaper Publication pertaining to Financial Results for the quarter ended June 30, 202614 Aug 2026 · Company Update / Newspaper Publication

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 2.0000	3 Jul 2026	3 Jul 2026	—
Final Dividend - Rs. - 1.5000	4 Jul 2025	4 Jul 2025	—
Final Dividend - Rs. - 1.5000	23 Aug 2024	23 Aug 2024	—

Board meetings

30 Oct 2026 Board Meeting - Financial Results
13 Aug 2026 Board Meeting - Financial Results