Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026 (Q2 & H1 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR

Audit Opinion:

Unmodified limited review reports issued by S.R. Batliboi & Co. LLP, Chartered Accountants, for both standalone and consolidated financial results.

Key Financial Highlights [₹ lakhs]

Consolidated Results:

Quarter ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹2,56,921
  • Total Income: ₹2,61,011
  • Profit before tax: ₹54,092
  • Tax Expense: ₹12,647
  • Net Profit: ₹41,445
  • EPS (Basic): ₹4.26
  • EPS (Diluted): ₹4.24

Half-year ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹4,93,538
  • Total Income: ₹5,01,680
  • Profit before tax: ₹97,723
  • Tax Expense: ₹23,982
  • Net Profit: ₹73,741
  • EPS (Basic): ₹7.58
  • EPS (Diluted): ₹7.54

Comparative Performance (Consolidated Q2 YoY):

  • Revenue from Operations increased from ₹2,13,547 (Q2 FY26) to ₹2,56,921 (Q2 FY27)
  • Net Profit decreased from ₹49,130 (Q2 FY26) to ₹41,445 (Q2 FY27)

Standalone Results:

Quarter ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹84,197
  • Total Income: ₹89,108
  • Profit before tax: ₹22,615
  • Tax Expense: ₹5,782
  • Net Profit: ₹16,833
  • EPS (Basic): ₹1.73
  • EPS (Diluted): ₹1.72

Half-year ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹1,62,489
  • Total Income: ₹1,76,610
  • Profit before tax: ₹45,206
  • Tax Expense: ₹11,613
  • Net Profit: ₹33,593
  • EPS (Basic): ₹3.45
  • EPS (Diluted): ₹3.43

Consolidated Financial Position as at September 30, 2026:

  • Property, plant and equipment: ₹6,05,366 lakhs
  • Right-of-use assets: ₹1,71,011 lakhs
  • Goodwill: ₹3,68,920 lakhs
  • Cash and cash equivalents: ₹55,671 lakhs
  • Total Assets: ₹18,72,212 lakhs
  • Borrowings (non-current): ₹2,62,098 lakhs
  • Borrowings (current): ₹58,858 lakhs
  • Total Equity: ₹11,53,313 lakhs

Segment-wise Performance:

The Group's business activity primarily falls within a single reportable business segment and geographical segment namely 'Medical and Healthcare Services' and 'India' respectively.

Corporate Actions:

  • A final dividend of ₹2 per share (20% of face value) for FY26 was approved by shareholders at the AGM on July 30, 2026, and paid on August 11, 2026.
  • The Nomination and Remuneration Committee approved grant of 3,61,827 stock options under MHIL ESOP 2022 at an exercise price of ₹350 to ₹800 per share.
  • During Q2 FY27, the Company allotted 66,462 ordinary shares of ₹10 each under the Employee Stock Option Scheme.
  • Shareholders approved the 'Max Healthcare Institute Limited Performance Linked Restricted Stock Unit Scheme 2026' via postal ballot on October 19, 2026, for grant of up to 73,50,000 Performance Linked Restricted Stock Units.

Other Significant Information:

Capital Expenditure Approvals:

1. Max Super Speciality Hospital, Sector-128, Noida: Approved ₹93 Cr for redevelopment and clinical capacity enhancement to add ~85 beds to the existing ~400 beds. To be completed within 15 months. Funded by internal accruals.

2. Max Super Speciality Hospital, Vaishali: Approved ₹97 Cr for construction of two additional floors to add ~60 beds to the existing ~387 beds. To be completed within 24 months. Funded by internal accruals.

Gurugram Hospital Project Update:

  • Revised project cost to ₹1,143 Cr (from previous estimate)
  • Revised completion timeline to April 2027
  • Revision due to changes in façade specifications, additional construction requirements, development of the atrium and enhanced interior fit-outs

Subsidiary Updates:

  • Acquired 58.28% equity stake in Kalinga Hospital Ltd (KHL) on May 18, 2026, for ₹29,797 lakhs. KHL operates a 250-bed NABH-accredited multi-specialty hospital in Bhubaneswar, Odisha.
  • Subsequently increased stake in KHL to 66.34% through rights issue subscription (₹8,787 lakhs) and acquisition from minority shareholders.
  • Acquired Yerawada Properties Private Limited (YPPL) on June 30, 2026, for ₹8,792 lakhs. YPPL owns a 1.68-acre land parcel in central Pune.
  • MHC Global Healthcare (Nigeria) Limited completed members' voluntary winding-up process on October 28, 2026.

Entities Included in Consolidation:

The consolidated results include 15 entities: 11 subsidiaries, 1 step-down subsidiary, and 3 silos (deemed separate entities over which the Holding Company has control).

Auditor's Comments:

  • The review report states that nothing has come to their attention that causes them to believe the financial results contain any material misstatement.
  • The consolidated results include unaudited interim financial results of two subsidiaries considered not material to the Group.