MAX Healthcare Results Analysis

Q4FY25 – Gross Revenue Rs. 2,429 Cr. 28.6% Growth YoY (driven by increase in OBDs (Occupied Bed Days)), Op. EBITDA Rs. 632 Cr. 25.7% Growth YoY, Op. EBITDA Margin 27.2% 80 bps Negative Growth YoY, Profit after tax (PAT) Rs. 376 Cr. 21% Growth YoY. FY25 – Gross Revenue Rs. 9,065 Cr. 25.7% Growth YoY, Op. EBITDA Rs. 2,319 Cr. 21.6% Growth YoY, Op. EBITDA Margin 26.8% 100 bps Negative Growth YoY, Profit after tax (PAT) Rs. 1,392 Cr. 9% Growth YoY. Max Healthcare operates 22 healthcare facilities (5,100+ beds) with a significant presence in North India. For Future Growth in next 4-5 Years Bed Capacity will increase to 2x. It will be through Brownfield Expansion, Asset Light, Merger and Acquisition, Greenfield Expansion. The Board declared Final dividend of Rs. 1.50 per Equity Share.