Max Healthcare

    MAXHEALTH
    Pharma
    ₹1037.70
    price as of 11/9/2026, 5:27:57 pm

    Market cap ₹1.01 L Cr

    P/E
    69.36
    Day range
    ₹1,022.70 – ₹1,041.50
    52-week range
    ₹903.00 – ₹1,221.90
    Volume
    25.06 L
    Open
    ₹1,028.20
    Prev close
    ₹1,038.60
    Promoters pledged 4.8% of their shares
    52-week range, adjusted for splits and bonuses
    ₹903₹1,221.9
    7 Apr 202623 Oct 2025
    Index membership & F&O
    NIFTY 50NIFTY 100NIFTY 200NIFTY 500NIFTY HEALTHCAREF&O lot 525

    Price history

    6M change +0.53%RSI (14) 53.5 NeutralSMA 20 · 50 overlaid

    Price & delivery on the exchange

    NSE bhavcopy to 11 Sept 2026 · delivery 58.8% today vs 55.5% average · BSE close ₹1,037.2

    1 Apr23 Apr15 May5 Jun24 Jun15 Jul3 Aug21 Aug11 Sept₹910₹975₹1,040₹1,105₹1,1700%25%50%75%100%
    • Delivery
    • NSE close
    • BSE close

    High delivery with a rising price suggests buyers holding rather than trading the move.

    Futures & options

    NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026

    Short covering
    Near-month future
    ₹1,039.5
    Change
    +0.47%
    Basis over spot
    +₹1.80
    Futures OI (shares)
    90.0 L
    OI change
    -8.27%
    Put-call ratio
    0.71
    Max pain
    ₹1,020
    Resistance (call OI)
    ₹1,040
    Support (put OI)
    ₹1,000
    Lot size
    525

    Open interest by strike

    Calls open above (resistance) and puts below (support), in shares

    82088091094097010001030106010901120115011801210126001.5 L3.0 L4.5 L6.0 Lspot
    • Call OI
    • Put OI

    Futures open interest and price

    Near-month future, day by day since collection began

    The daily history builds from each close.

    Key metrics

    P/E (TTM)
    69.0
    EPS (TTM)
    ₹14.98
    ROE (FY26)
    14.3%
    ROCE (latest year)
    15%
    Dividend yield
    0.19%

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +22.4%
    Profit 3Y CAGR
    +9.3%
    Revenue YoY (Jun 2026)
    +16.7%
    Profit YoY (Jun 2026)
    +4.9%
    Operating margin
    25.0%
    Net margin
    13.7%

    Revenue, profit & margin - quarterly

    Bars in ₹ crore (a loss shows red); line is operating margin

    Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Jun 20260 Cr600 Cr1.2K Cr1.8K Cr2.4K Cr0%8%16%24%32%
    • Revenue
    • Net profit
    • Operating margin

    Who owns the company

    Shareholding as of Jun 2026

    • FII
    • DII
    • Promoter
    • Public

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-3.0K Cr-1.5K Cr0 Cr1.5K Cr3.0K Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY18FY19FY20FY21FY22FY23FY24FY25FY26-6%0%6%12%18%15%

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); line is debt-to-equity

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260 Cr3.0K Cr6.0K Cr9.0K Cr12.0K Cr0.0x0.3x0.6x0.9x1.2x
    • Equity
    • Debt
    • Debt / equity

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
    Sales1,3631,3351,4231,5431,7071,8681,9102,0282,1352,0682,1432,366
    Expenses9769491,0411,1561,2571,3691,3981,5051,5601,5291,5361,768
    Operating Profit387386382387451499512523575538606598
    OPM %28%29%27%25%26%27%27%26%27%26%28%25%
    Other Income4546453541-40473733-34841
    Interest91121243452555554606771
    Depreciation586170778498101104108111123132
    Profit before tax366360336321374309402400446365465436
    Tax %24%20%25%26%25%23%21%23%-10%17%26%26%
    Net Profit277289252236282239319308491301342323
    EPS in Rs₹2.85₹2.98₹2.59₹2.43₹2.90₹2.46₹3.28₹3.17₹5.05₹3.09₹3.52₹3.32

    From company filings, updated 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

    Strengths, risks & growth

    Max Healthcare Institute Limited is primarily engaged in the providing healthcare services through primary care clinics, multi-speciality hospitals / medical centres and super-speciality hospitals providing operation and management, medical services, clinical, radiology, pathology services and related healthcare services. [1]

    Strengths

    None flagged by the checklist.

    Risks

    • Stock is trading at 9.40 times its book value
    • Tax rate seems low
    • Company has a low return on equity of 13.7% over last 3 years.
    • Company might be capitalizing the interest cost
    • Dividend payout has been low at 13.6% of profits over last 3 years

    Compounded Sales Growth

    10 Years
    —
    5 Years
    +27%
    3 Years
    +22%
    TTM
    +16%

    Compounded Profit Growth

    10 Years
    —
    5 Years
    +60%
    3 Years
    +10%
    TTM
    +25%

    Stock Price CAGR

    10 Years
    —
    5 Years
    +22%
    3 Years
    +19%
    1 Year
    -12%

    Return on Equity

    10 Years
    +11%
    5 Years
    +14%
    3 Years
    +14%
    Last Year
    +15%

    Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.

    Shareholding pattern

    Percentage of shares held by each category at each quarter end
    HolderSept 2025Dec 2025Mar 2026Jun 2026Change
    Promoter23.74%23.72%23.71%23.71%0.00 pp
    FII51.80%50.55%45.39%41.78%-3.61 pp
    DII20.03%21.20%26.32%29.95%+3.63 pp
    Public4.43%4.52%4.58%4.55%-0.03 pp

    Filed with NSE for Jun 2026: promoters 23.71%, public 76.29% · XBRL filing

    Analysts & fund holdings

    84%
    84% recommend buy
    25 analysts cover the stock
    Valuation vs Health Care Providers & Services
    P/E69.4 vs 46.4
    Sector P/B5.84
    Beta0.85

    Who holds the shares, quarter by quarter

    Mutual funds 18.68% (+2.38 pp)
    Mar 25
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    • Promoters23.7%
    • Foreign institutions41.8%
    • Mutual funds18.7%
    • Insurance7.5%
    • Other domestic institutions3.8%
    • Retail2.3%
    • Others2.3%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    HDFC Flexi Cap Fund1.74%1.49%-0.07 pp
    Invesco India Midcap Fund1.01%6.21%+1.79 pp
    Motilal Oswal Midcap Fund0.97%2.20%-0.04 pp
    Invesco India Large & Mid Cap Fund0.89%7.39%+0.32 pp
    Nippon India Growth Mid Cap Fund0.78%1.46%-0.11 pp

    Scorecard

    Performance
    Avg
    Valuation
    High
    Growth
    Low
    Profitability
    High
    Entry point
    Good
    Red flags
    Low

    Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.

    Corporate actions

    • dividend
      ₹2.00

      Dividend - Rs 2 Per Share

      3 Jul 2026
      ex-date
    • dividend
      ₹1.50

      Dividend - Rs 1.50 Per Share

      4 Jul 2025
      ex-date
    • dividend
      ₹1.50

      Dividend - Rs 1.5 Per Share

      23 Aug 2024
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 1 Per Share

      8 Sept 2023
      ex-date

    Company announcements

    Company Update
    Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

    Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper publication in Form INC-26 regarding shifting of Registered office

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Updates on Acquisition

    Update on infusion of funds in Kalinga Hospital Ltd.

    Company Update
    Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

    Allotment of Equity Shares under Max Healthcare Institute Limited - Employee Stock Option Scheme 2022

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Acquisition

    Infusion of funds in Kalinga Hospital Ltd.

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press Release - Hon'ble Union Home Minister and Cooperation Minister Shri Amit Shah Inaugurates New 400 Beds Tower at Max Smart Super Speciality Hospital, Saket

    Company Update
    Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

    Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

    Company Update
    Announcement under Regulation 30 (LODR)-Earnings Call Transcript

    Transcript of Earnings Call held on August 14, 2026

    Company Update
    Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

    Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

    Company Update
    Announcement under Regulation 30 (LODR)-Investor Presentation

    Presentation for Investor Conference

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Publication pertaining to Financial Results for the quarter ended June 30, 2026

    Company Update
    Audio Recording Of Earnings Call Held On August 14, 2026

    Audio Recording of Earnings Call held on August 14, 2026

    Company Update
    Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

    Disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

    Company Update
    Announcement under Regulation 30 (LODR)-Change in Management

    Change in Senior Management Personnel

    Company Update
    Presentation On Earnings Update

    Presentation on earnings updates for the quarter ended June 30, 2026

    Filed with BSE (scrip 543220); the last 45 days. Documents open at bseindia.com.

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.

    Sourced from the company's NSE XBRL filing dated 30 Jan 2025 (unaudited). View the source filing. Figures are as filed and are not investment advice.