Max Healthcare Institute Stock Price - ₹994.90 | Healthcare Services

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Company insights, generated from the most recent coverage.

EBITDA per bed is 55% better than the second-best industry player, driven by metro concentration and operational excellence.
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85% bed concentration in Delhi/Mumbai creates geographic risk and limits exposure to high-growth Tier-2/3 markets, unlike Apollo's pan-India spread.
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Mature units deliver exceptional ~29% ROCE, while asset-light models offer 100%+ ROCE potential, justifying premium valuation despite lower consolidated returns during expansion phase.
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The Quarter story

The two most recent quarterly results, compared side-by-side.

Max Healthcare drives strong revenue and EBITDA growth through network expansion, though rising debt and input costs require monitoring.

Gross revenue grew from ₹2,574 Cr to ₹2,982 Cr from Q1 FY26 to Q1 FY27 — confirming robust top-line expansion.

Net debt climbed from ₹1,755 Cr to ₹2,384 Cr from Q1 FY26 to Q1 FY27 — signaling increased leverage.

Operating EBITDA rose from ₹613 Cr to ₹704 Cr from Q1 FY26 to Q1 FY27 — demonstrating consistent operational profitability.

Finance costs rose from ₹34 Cr to ₹61 Cr from Q1 FY26 to Q1 FY27 — highlighting rising debt servicing pressure.

Max Lab pick-up points expanded from 700 to 890 from Q1 FY26 to Q1 FY27 — highlighting aggressive last-mile network growth.

Direct costs surged from ₹1,015 Cr to ₹1,179 Cr from Q1 FY26 to Q1 FY27 — indicating higher input consumption.

Operational bed capacity increased from 5,200 to 6,000 from Q2 FY26 to Q4 FY26 — signaling successful infrastructure scaling.

Effective tax rate increased from 21.8% to 24.4% from Q1 FY26 to Q1 FY27 — signaling a higher tax burden.

Monthly active users grew from 113.7 Mn to 123.5 Mn from Q1 FY26 to Q1 FY27 — indicating steady digital engagement.

Indirect overheads jumped from ₹831 Cr to ₹951 Cr from Q1 FY26 to Q1 FY27 — reflecting elevated administrative spending.

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In the news

Max Healthcare's Saket hospital adds 400 beds, capacity hits 1,200

Max Healthcare unit faces ₹166 cr GST notice over fees

Delhi Master Plan 2047 boosts Max, Fortis, Medanta stocks

Max Healthcare shares fall 2.47% to ₹988.30 despite strong Q1 results

Max Healthcare shares fall 2.14% despite strong financial growth

Max Healthcare shares fall 2.62% despite strong Q4 results

RailTel Secures ₹107.60 Cr Order from Mahanadi Coalfields

Noida Healthcare Demand Outstrips Supply, MOFSL Prefers Medanta

Max Healthcare Gets 'Hold' Rating Despite 4,000 Bed Expansion Plans

Max Healthcare shares surge 6.58% on Citi buy rating

Top stocks to watch: JK Cement, ONGC, Fortis Healthcare

Max Healthcare: Strong long-term growth vs near-term headwinds

Max Healthcare Q4 profit up 3% to ₹387 cr; margin expansion masks growth concerns

SENSEX rises 232 points, NIFTY50 up 65 points on May 22

Max Healthcare shares drop 7% on Q4 earnings miss

Max Healthcare shares fall 7% as Q4 results miss estimates

Max Healthcare shares drop 7% on Q4 results despite 7% profit growth

Max Healthcare shares drop 7% despite 7.2% profit growth in Q4

Max Healthcare Q4 profit up 38% to ₹439 cr, stock hits 3-month high

Max Healthcare Q4 PAT rises 3% to ₹387 cr, revenue up 9%

Max Healthcare Institute