Max Healthcare Institute Limited presented an investor presentation on May 31, 2025, outlining the company's growth strategy and financial performance.
The company's senior management participated in investor conferences in June 2025, including BofA 2025 India Conference (June 2), J.P. Morgan Asia Pacific All Star Forum 2025 (June 4), Jefferies India Access Days - USA 2025 (June 9 & 10), Kotak India Corporate Day 2025 (June 23 & 24), and IIFL Invest India Conference & Capital Day 2025 (June 25).
Max Healthcare is India’s largest hospital chain in terms of market cap at ₹ 1.1 lakh crore / $ 12.5 billion.
As of March 31, 2025, the shareholding structure includes FIIs & FPIs (54.7%), DIIs (17.6%), and Others (4.0%). Key public shareholders include Capital Group, GIC, and Blackrock/iShares.
The company has a current capacity of 5,100+ beds, with 77% of facilities and ~74% of beds located in metros. The FY25 occupancy rate is 73%, and the ROCE is 35%.
Max Healthcare has a strong focus on research and academics with strategic partnerships with Manipal Academy of Higher Education, Mazumdar Shaw Medical Foundation, and others.
The company has a dominant presence in attractive markets like Delhi NCR and Mumbai, with 3,900+ beds. This positions Max Healthcare to capitalize on medical tourism.
Max Healthcare's strategy involves optimizing existing infrastructure, expanding bed capacity through brownfield and greenfield projects, pursuing value-accretive M&A, developing a digital ecosystem, and focusing on capital-light adjacencies.
The company plans to add ~2,500 beds via brownfield expansion and has executed ATLs for asset-light hospitals in Mohali (400 beds) and Thane (500 beds).
Max Healthcare is expanding its capacity by ~8,400 beds, with ~3,900 beds being added in the next 3-4 years. This includes expansions in Lucknow, Dwarka, Nagpur, and other locations.
Recent acquisitions, including hospitals in Lucknow and Nagpur, have been successfully integrated, leading to significant revenue and EBITDA growth.
The company's digital platform, Max MyHealth, offers a seamless omnichannel healthcare experience, with ~9.5 lakh patient registrations to date.
Max Lab, the non-captive pathology SBU, has shown strong growth, with a 45% CAGR since FY18.
Max@Home, one of the largest homecare providers in India, has also experienced rapid growth, with a ~34% CAGR since FY18.
The presentation includes financial highlights and performance parameters, showcasing Max Healthcare's best-in-class performance.