Analysts/Institutional Investor Meet/Con. Call Updates4 Nov 2026 · 18:45
Max Healthcare Institute Limited has informed the Exchange about Schedule of meet
Markets / Nifty 50 / Healthcare
Price
Daily closing prices, adjusted for bonuses and splits
Returns against the Nifty 50
| Return | 1W | 1M | 3M | 6M | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|---|---|
| MAXHEALTH | +8.9% | +1.1% | −14.2% | −8.7% | −18.6% | +60.4% | +168.2% |
| Nifty 50 | +5.6% | +6.2% | −2.7% | −1.5% | −6.4% | +24.6% | +33.7% |
Price returns, without dividends. Source: NSE end-of-day data.
Check-up
Where MAXHEALTH sits against the Nifty 50 and its industry. Facts, not advice.
Price return
−18.56%
Over 1 year. The Nifty 50 returned −6.40%, so MAXHEALTH trailed it by 12.2 percentage points.
Valuation (PE)
65.4
Price is 65.4 times the last four quarters' earnings per share, higher than the Nifty 50's PE of 19.8 and the 4 industry peers' median of 40.0.
Growth
+20.3%
Revenue in Q2 FY27 compared with the same quarter a year earlier. Net profit changed −15.6%.
Profitability (ROE)
12.2%
Profit over the last four quarters as a share of shareholders' equity. Net margin is 15.1%.
Debt
0.33×
Borrowings are 0.33 times shareholders' equity (latest balance sheet, 30 Sep 2026).
Volatility
1.91×
Daily price moves over the last year were 1.91 times as large as the Nifty 50's (annualised volatility 26.5%).
What the latest numbers show
Calculated by stockER from the company's filings and NSE data.
Positives 3
- Revenue up 20.3% from a year ago₹2,569 cr in Q2 FY27, against ₹2,135 cr in Q2 FY26.
- Operating cash flow of ₹1,633 crCash generated by the business in the year to 31 Mar 2026.
- Mutual fund holding up 5.00 points in a year19.25% on 30 Sep 2026, from 14.25%.
Watch points 4
- Net profit down 15.6% from a year ago₹414 cr in Q2 FY27, against ₹491 cr in Q2 FY26.
- Net margin narrowed to 16.1%From 23.0% in Q2 FY26.
- Borrowings rose 15.9% in a year₹3,795 cr on 30 Sep 2026, against ₹3,275 cr a year earlier.
- Foreign institutional holding down 11.28 points in a year40.52% on 30 Sep 2026, from 51.80%.
Financials
Consolidated results as filed with NSE. ₹ crore unless stated.
Revenue
Net profit
EPS (₹)
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,868 | 1,910 | 2,028 | 2,135 | 2,068 | 2,143 | 2,366 | 2,569 |
| Other income | 33 | 47 | 37 | 33 | 45 | 48 | 41 | 41 |
| Total expenses | 1,519 | 1,554 | 1,664 | 1,722 | 1,700 | 1,726 | 1,970 | 2,069 |
| EBITDA | 459 | 559 | 559 | 608 | 535 | 654 | 639 | 752 |
| Depreciation | 98 | 101 | 104 | 108 | 111 | 123 | 132 | 138 |
| Finance cost | 52 | 55 | 55 | 54 | 60 | 67 | 71 | 74 |
| PBIT | 361 | 458 | 455 | 500 | 424 | 531 | 507 | 615 |
| Profit before tax | 309 | 402 | 400 | 446 | 365 | 465 | 436 | 541 |
| Tax | 70 | 84 | 92 | −45 | 64 | 122 | 113 | 126 |
| Net profit | 239 | 319 | 308 | 491 | 301 | 342 | 323 | 414 |
| EPS (₹) | 2.46 | 3.28 | 3.17 | 5.05 | 3.10 | 3.52 | 3.32 | 4.26 |
| ₹ crore | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue from operations | 4,559 | 5,406 | 7,028 | 8,373 |
| Other income | 143 | 178 | 156 | 163 |
| Total expenses | 3,638 | 4,219 | 5,704 | 6,812 |
| EBITDA | 1,380 | 1,670 | 1,931 | 2,357 |
| Depreciation | 232 | 245 | 359 | 447 |
| Finance cost | 84 | 60 | 165 | 235 |
| PBIT | 1,148 | 1,425 | 1,571 | 1,911 |
| Profit before tax | 1,064 | 1,365 | 1,406 | 1,676 |
| Tax | −40 | 308 | 330 | 233 |
| Net profit | 1,104 | 1,058 | 1,076 | 1,442 |
| ₹ crore | MAR 2024 | SEP 2024 | MAR 2025 | SEP 2025 | MAR 2026 | SEP 2026 |
|---|---|---|---|---|---|---|
| Total assets | 12,000 | 13,127 | 15,214 | 16,281 | 17,231 | 18,722 |
| Current assets | 1,706 | 1,981 | 1,593 | 1,679 | 1,945 | 2,096 |
| Inventories | 80 | 93 | 106 | 114 | 114 | 132 |
| Cash and equivalents | 980 | 964 | 662 | 478 | 666 | 557 |
| Total liabilities | 3,592 | 4,328 | 5,834 | 6,229 | 6,484 | 7,189 |
| Current liabilities | 1,249 | 1,568 | 1,814 | 2,118 | 2,187 | 2,493 |
| Borrowings | 1,299 | 1,768 | 3,010 | 3,275 | 3,478 | 3,795 |
| Shareholders' equity | 8,408 | 8,799 | 9,381 | 10,052 | 10,747 | 11,533 |
| Equity attributable to owners | 8,408 | 8,799 | 9,381 | 10,052 | 10,747 | 11,332 |
Balance sheets are filed every half year (September and March).
| ₹ crore | 6M to SEP 2022 | 12M to MAR 2025 | 6M to SEP 2025 | 12M to MAR 2026 | 6M to SEP 2026 |
|---|---|---|---|---|---|
| From operations | 575 | 1,460 | 818 | 1,633 | 995 |
| From investing | −523 | −1,632 | −966 | −1,689 | −988 |
| From financing | −167 | −164 | −35 | 59 | −117 |
| Capital expenditure | 113 | 966 | 859 | 1,485 | 589 |
| Free cash flow | 462 | 494 | −41 | 149 | 406 |
Cash flow statements are filed every half year; figures are for the period shown.
EBITDA here is profit before tax plus finance cost and depreciation. Annual figures add up the four quarters of each financial year. Source: company filings on NSE (XBRL).
Peers
Healthcare companies in the Nifty 50.
| Company | Price | Market cap | PE | PB | ROE | Div. yield | 1Y return |
|---|---|---|---|---|---|---|---|
| Max Healthcare Institute Ltd.MAXHEALTH | ₹927.15 | ₹90,240 cr | 65.4 | 7.96 | 12.2% | 0.22% | −18.6% |
| Sun Pharmaceutical Industries Ltd.SUNPHARMA | ₹1,773.40 | ₹4.25 lakh cr | 38.8 | 4.77 | 12.3% | 0.90% | +4.9% |
| Apollo Hospitals Enterprise Ltd.APOLLOHOSP | ₹8,599.50 | ₹1.24 lakh cr | 55.1 | 11.66 | 21.1% | 0.23% | +10.1% |
| Dr. Reddy's Laboratories Ltd.DRREDDY | ₹1,374.00 | ₹1.15 lakh cr | 41.0 | 2.96 | 7.2% | 0.58% | +14.5% |
| Cipla Ltd.CIPLA | ₹1,402.00 | ₹1.13 lakh cr | 39.1 | 3.20 | 8.2% | 0.93% | −6.7% |
Price comparison
Change in price from the start of the period
MAXHEALTHNifty 50SUNPHARMAAPOLLOHOSP
Events
Dividends, bonuses and splits from NSE's corporate actions.
Dividend paid in 4 of the last 5 calendar years (2022–2026)Over the last 12 months: ₹2.00 per share (adjusted for bonuses and splits), a yield of 0.22% at today's price.
Past dividends
Dividend
Dividend - Rs 2 Per SharePer share
₹2.00Ex-date
3 Jul 2026
Dividend - Rs 2 Per SharePer share
₹2.00Ex-date
3 Jul 2026
Dividend
Dividend - Rs 1.50 Per SharePer share
₹1.50Ex-date
4 Jul 2025
Dividend - Rs 1.50 Per SharePer share
₹1.50Ex-date
4 Jul 2025
Dividend
Dividend - Rs 1.5 Per SharePer share
₹1.50Ex-date
23 Aug 2024
Dividend - Rs 1.5 Per SharePer share
₹1.50Ex-date
23 Aug 2024
Dividend
Dividend - Re 1 Per SharePer share
₹1.00Ex-date
8 Sep 2023
Dividend - Re 1 Per SharePer share
₹1.00Ex-date
8 Sep 2023
Filings and updates
The company's own announcements to NSE: results, dividends, presentations and board decisions.
Annual report 2025–26Open (PDF / ZIP)
Annual report 2024–25Open (PDF / ZIP)
Annual report 2023–24Open (PDF / ZIP)
Annual report 2022–23Open (PDF / ZIP)
Annual report 2021–22Open (PDF / ZIP)
Analysts/Institutional Investor Meet/Con. Call Updates3 Nov 2026 · 22:22
Max Healthcare Institute Limited has informed the Exchange about Link of Recording
Copy of Newspaper Publication31 Oct 2026 · 20:52
Max Healthcare Institute Limited has informed the Exchange about Newspaper Publication pertaining to Financial Results for the quarter and half year ended September 30, 2026
Change in Management30 Oct 2026 · 14:54
Max Healthcare Institute Limited has informed the Exchange about appointment of Dr. Dharmender Kumar as Director & Chief - Public Affairs, identified as Senior Management Personnel with effect from November 1, 2026
Press Release30 Oct 2026 · 14:48
Max Healthcare Institute Limited has informed the Exchange regarding a press release dated October 30, 2026, titled "Max Healthcare Q2 revenue rises to Rs 3219 Crore registering growth of 20% YoY Q2 PAT stood at Rs 448 Cr growth of 10% YoY".
Outcome of Board Meeting30 Oct 2026 · 14:44
Max Healthcare Institute Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026.
Allotment of Securities30 Oct 2026 · 11:01
Max Healthcare Institute Limited has informed the Exchange regarding allotment of Equity Shares under Max Healthcare Institute Limited - Employee Stock Option Scheme 2022
Shareholders meeting19 Oct 2026 · 21:49
Max Healthcare Institute Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot. Further, the Company has informed the Exchange regarding voting results.
Credit Rating9 Oct 2026 · 22:24
Max Healthcare Institute Limited has informed the Exchange about Credit Rating
ESOP/ESOS/ESPS4 Sep 2026 · 09:06
Max Healthcare Institute Limited has informed the Exchange regarding allotment of Equity Shares under Max Healthcare Institute Limited - Employee Stock Option Scheme 2022.
Acquisition3 Sep 2026 · 15:29
Max Healthcare Institute Limited has informed the Exchange about infusion of funds in Kalinga Hospital Ltd.
Press Release3 Sep 2026 · 13:43
Max Healthcare Institute Limited has informed the Exchange regarding a press release dated September 03, 2026, titled "Hon ble Union Home Minister and Cooperation Minister Shri Amit Shah Inaugurates New 400 Beds Tower at Max Smart Super Speciality Hospital, Saket".
Frequently asked questions
What is the share price of Max Healthcare Institute Ltd. (MAXHEALTH)?
MAXHEALTH closed at ₹927.15 on NSE on 4 Nov 2026, +3.53% on the day. stockER shows end-of-day prices, updated after the market closes.
What is the market cap of MAXHEALTH?
₹90,240 cr, based on 97.33 crore shares and the latest closing price. That makes it #50 by size in the Nifty 50.
What are the PE and PB ratios of MAXHEALTH?
PE 65.37 on earnings per share of ₹14.18 over the last four quarters; PB 7.96 on the latest reported equity.
What is the 52-week high and low of MAXHEALTH?
High ₹1,194.40 on 29 Oct 2025, low ₹797.00 on 22 Oct 2026 (adjusted for bonuses and splits).
What is the dividend yield of MAXHEALTH?
0.22%: dividends of ₹2.00 per share with ex-dates in the last 12 months, divided by the latest price.
What return has MAXHEALTH given?
1 year −18.6%, 3 years +60.4%, 5 years +168.2% (price only, dividends not included).
Which sector is MAXHEALTH in?
NSE classifies Max Healthcare Institute Ltd. under Healthcare. Other Nifty 50 companies in it: APOLLOHOSP, CIPLA, DRREDDY, SUNPHARMA.
Who owns MAXHEALTH?
On 30 Sep 2026, promoters held 23.71% and the public 76.29%.
How can I buy MAXHEALTH shares?
Through a SEBI-registered stockbroker with a demat and trading account. stockER is an information site only: it doesn't sell shares or recommend buying or selling any of them.