Shares of Max Healthcare Institute rose over 3% to a near-three-month high of ₹1,111 ahead of its March quarter earnings announcement, marking the seventh successive session of gains. The stock has risen over 9% in this period with trading volume increasing nearly 3 times compared to the previous session. As per Informist Media, the positive momentum reflects strong investor confidence ahead of the quarterly results. The stock was up nearly 2% at ₹1,092.75 on the NSE at 1034 IST, with over 1.3 million shares changing hands compared to over 472,000 shares in the previous session.
The hospital chain is expected to report a consolidated net profit of ₹439 crore and revenue of ₹2,633 crore for the quarter ended March 31, 2026, representing a nearly 38% year-on-year increase in both metrics. According to Informist Media, this growth is driven primarily by volume growth led by bed additions and ramping up of newly commissioned facilities. The profit growth is expected to be driven by higher occupied bed days and stable occupancy across the network, with the company benefiting from its expansion strategy and operational efficiency improvements.
Among seven brokerage reports available with Informist Media, six have a 'buy' recommendation with an average target price of ₹1,268, while just one has a 'sell' call. This overwhelmingly positive analyst sentiment reflects confidence in the company's growth trajectory and operational improvements. The strong brokerage backing comes as Max Healthcare continues to benefit from its strategic expansion plans and successful ramp-up of newly commissioned facilities, positioning the company well for sustained growth in the healthcare sector.
For FY26, network gross revenue came in at ₹10,538 crore, while profit after tax after exceptional items increased 22% year-on-year to ₹1,631 crore from ₹1,336 crore in FY25. According to the earnings report, average revenue per occupied bed stood at ₹77,900 in Q4 FY26 compared with ₹77,100 in the year-ago period, reflecting marginal improvement. The company maintained steady operational performance throughout the fiscal year, with EBITDA margins easing to 26.2% from 26.8% a year earlier amid expansion-led cost pressures.
The board recommended a final dividend of ₹2 per equity share for FY26, as reported by The Hindu BusinessLine. Additionally, the company approved a ₹1,400 crore investment for a 712-bed greenfield hospital at Shaheed Path in Lucknow. The facility, spread across five acres, is expected to be commissioned in FY30 and will be the company's second hospital in the city, marking significant expansion plans for the hospital chain. The company also strengthened its geographic footprint by acquiring a controlling 58.28% stake in Kalinga Hospital in Bhubaneswar.
