Max India Limited – Investor Presentation Summary

Key Operational Highlights

  • Residences for Seniors: ~Rs 212 Cr sales collections in Q2 FY27 across Gurugram & Noida projects.
  • E360 Gurugram: All 292 units sold with ITD collection of Rs 584.5 Cr and collection efficiency of ~83%.
  • E361 Gurugram: 247 units sold out of 360 units with average sales velocity of 31 units per month in Q2 FY27.
  • Care Homes: Served ~2700 patients during Q2 FY27 and over ~55,000 patients since inception.
  • AGEasy: Recorded highest-ever monthly revenue of Rs 14.9 Cr in September 2026.
  • Key drivers: Strong sales momentum in residential projects, digital marketing effectiveness, and expanded care home capacity.

Segment-wise Performance

  • Residences for Seniors: Revenue of Rs 50.5 Cr in Q2 FY27 vs Rs 19.7 Cr in Q2 FY26 (156% YoY growth) and Rs 37.4 Cr in Q1 FY27 (35% QoQ growth). H1 FY27 revenue stood at Rs 87.8 Cr vs Rs 36.5 Cr in H1 FY26.
  • Care Homes & AGEasy: Revenue of Rs 47.8 Cr in Q2 FY27 vs Rs 30.0 Cr in Q2 FY26 (59% YoY growth) and Rs 30.8 Cr in Q1 FY27 (55% QoQ growth). H1 FY27 revenue stood at Rs 78.6 Cr vs Rs 52.1 Cr in H1 FY26. PBT margin improved to -66.8% in Q2 FY27 from -106% in Q1 FY27.
  • Explanation: Growth in Residences segment driven by project handovers and sales collections; Care Homes & AGEasy growth driven by expanded capacity and strong digital marketing performance.

Financial Highlights

Revenue: Rs 99.1 Cr (Q2 FY27 consolidated)

EBITDA: Rs (-)11.4 Cr (EBITDA loss)

PAT: Rs (-)22.3 Cr (Loss After Tax)

EPS: Rs (-)4.0

Margins: EBITDA loss reduced by 55% YoY and 54% QoQ

YoY/QoQ comparison: Revenue up 89% YoY and 44% QoQ; EBITDA loss improved from Rs (-)25.3 Cr in Q2 FY26 and Rs (-)24.9 Cr in Q1 FY27

Drivers of financial performance: Higher revenue across both segments, cost optimization in all verticals, focus on gross margins

Key Risks: Not explicitly disclosed in the presentation

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not specified in the presentation

Regional Breakdown: Care homes operational in Delhi-NCR (207 beds), Bengaluru (163 beds), and Chennai (115 beds)

Balance Sheet Snapshot

Net Debt/Equity: Not specified

Reserves: Not specified

Current Assets/Liabilities: Current Assets Rs 399.91 Cr; Current Liabilities Rs 193.26 Cr as of September 30, 2026

Working Capital/Leverage Metrics: Not specified

Financial Health Insights: Liquidity position stood at ~Rs 52 Cr; Consolidated net worth ~Rs 395 Cr as of September 30, 2026

Capex & Cash Flow Health

Capital Expenditure: Not specified

Free Cash Flow: Not specified

Operating Cash Flow: Not specified

Net Debt Movement: Not specified

Investment Rationale: Focus on profitability across all business verticals

Strategic & R&D Initiatives

Investments in Innovation: AGEasy strengthened product differentiation through 10 designs & 2 utility patents; 80+ products in portfolio including patented products across BP monitoring, mobility and personal care

Expected impact on growth: Targeting 0% CM2 in Q3 FY27 for AGEasy; scaling differentiated and patented products to strengthen margins

Strategic Rationale: Expand reach through quick commerce, new e-pharmacy platforms and B2B general trade; deepen clinical differentiation through PMR-led rehabilitation and high-acuity care in Care Homes

Industry Trends & Business Environment

Macro/Industry Trends: Not explicitly discussed in the presentation

Impact on Company: Not specified

Management Commentary & Growth Outlook

Strategic Outlook: Focus continues on higher gross margins, cost optimization and increased profitability

FY Guidance: Targeting 0% CM2 for AGEasy in Q3 FY27; ramp up occupancy on expanded capacity in Care Homes driven by digital and hospital referrals

Market Share Targets: Not specified

Risks and Opportunities: Not explicitly highlighted beyond general forward-looking statements