Key Quantitative Figures (FY26)
- Gross Revenue: ₹10,538 Crore
- Net Revenue: ₹10,065 Crore (16% YoY growth)
- Operating EBITDA: ₹2,638 Crore (26.2% margin)
- Reported EBITDA: ₹2,599 Crore (25.8% margin)
- Profit Before Tax: ₹1,938 Crore (19.3% margin)
- Profit After Tax: ₹1,631 Crore (16.2% margin, 22% YoY growth)
- Direct Costs: ₹4,124 Crore (41.0% of net revenue)
- Indirect Overheads: ₹3,303 Crore (32.8% of net revenue)
- Contribution: ₹5,941 Crore (59.0% of net revenue)
- Finance Costs (Net): ₹162 Crore
- Depreciation & Amortization: ₹499 Crore
- Effective Tax Rate (normalized): 20.9%
- Bed Capacity: 6,000+ beds across 21 healthcare facilities
- Occupied Bed Days: Not quantified in disclosure
- ARPOB: Calculated on gross revenue excluding non-captive pathology and pharmacies (amount not specified)
Quarterly Performance (Q4 FY26)
- Net Revenue: ₹2,541 Crore (9% YoY growth)
- Operating EBITDA: ₹682 Crore (26.8% margin)
- Reported EBITDA: ₹698 Crore (27.5% margin)
- Profit After Tax: ₹387 Crore (15.2% margin)
Strategic Updates & Operational Highlights
- Market Position: India's second-largest hospital chain in terms of Revenue & EBITDA (based on publicly available information for listed companies, FY26).
- Bed Capacity Expansion: Potential to expand capacity by 8,400+ beds, with ~4,000 beds being added in next 3-4 years through brownfield and greenfield projects.
- Recent Commissioning: Three new brownfield towers operationalized:
- Max Mohali Tower 2: Adds ~160 beds (fully operational)
- Nanavati-Max Tower 2 (Phase 1): Adds 280 beds (116 operationalized, balance in 3 months)
- Max Smart Tower 2: Adds 400 beds (156 operationalized, balance in next quarter)
- Acquisitions: Successfully integrated ~1,300 beds acquired in Lucknow, Nagpur, and Noida over the last 18 months.
- Medical Value Travel: Operating 15 company & partner-owned Patient Assistance Centres (PACs) across 14 countries to capture growing medical tourism market (projected ~3.0 million medical tourists in India by 2030).
- Digital Revenue: Max MyHealth digital platform accounted for ~31% of overall revenue in FY26 through online marketing and web-based appointments.
- Max@Home: Among one of the largest homecare providers in India with 1,800+ strong team.
Clinical Volume Highlights (FY26 Annual Count)
- Transplants: ~2,000
- Robotic surgeries: ~8,600
- Cardiac procedures: ~52,900
- Neuro surgeries: ~15,000
- Orthopaedic surgeries: ~42,800
Research & Academics
- 3,300+ research publications in indexed journals over last 11 years
- 30,000+ research participants
- US$2.2 Mn in research grants
- 2 patents applied for AI-enabled Radiomics project with IIT Bombay
- 750+ clinical research projects completed
Financial Structure & Balance Sheet (As of March 31, 2026)
- Gross Debt: ₹2,924 Crore
- Cash & Bank Balance: ₹1,122 Crore
- Trade Receivables (Net): ₹1,155 Crore (DSO of 87 days)
- Goodwill: ₹4,803 Crore
- Net Tangible Assets: ₹7,702 Crore
- Capital Work-in-Progress: ₹848 Crore
- Lease Liabilities: ₹589 Crore
- Deferred/Contingent Consideration Payable: ₹484 Crore
ESG & CSR Initiatives
- ISO 14001 certification for twelve hospitals
- ~70,000 GJ total renewable energy used across facilities in FY25
- ~350K needy patients treated free of charge in FY25
- USD 25 Mn worth of free medical treatment to the underprivileged in FY25
- USD 2.1 Mn CSR spend in FY25
- Certified as Great Place To Work® for fourth consecutive year
Forward-Looking Statements
The presentation contains forward-looking statements relating to strategic initiatives and future business developments, subject to risks and uncertainties including market conditions, macroeconomic trends, regulatory changes, and competitive pressures.
Disclaimer
The financial information includes aggregated totals of historical MHIL and Radiant Life Care Private Limited prior to their merger, and includes financials relating to Partner Healthcare Facilities (PHFs). These aggregated totals are unaudited, unreviewed and do not meet statutory, regulatory or other audit requirements.