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MAXHEALTH · NSE · Hospital

Max Healthcare Institute Ltd

What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Healthcare
fair low confidence No valuation within 120 days; P/E 59.0 vs peers 60.0 (7th of 13); P/B 10.5 vs peers 7.0 (10th of 12).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Max Healthcare Institute's share price today?

Max Healthcare Institute last traded at ₹854.75 on the NSE, as of 13 Oct 2026, 1:00 pm IST, down 1.3% on the day, down 24.3% over a year. Its 52-week range is ₹842 to ₹1,222. The live price is in the app.

₹854.75 −1.3% today
−24.3% over 1 year · NSE, as of 13 Oct 2026, 1:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range3% of the way up
Low ₹842High ₹1,222

What is Max Healthcare Institute's market cap?

Max Healthcare Institute's market capitalisation is about ₹84,284 crore: what it would cost to buy every share at today's price. That makes it the 32nd largest mid cap company we cover.

₹84,284 Cr Mid Cap32nd largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: MAXHEALTH
ISIN
INE027H01010
Cap bucket
Mid Cap, 32nd largest by market cap
Industry (NSE)
Healthcare › Healthcare Services › Hospital
Listed since
2020
Futures and options
Traded

Is Max Healthcare Institute overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 59.0 vs peers 60.0 (7th of 13); P/B 10.5 vs peers 7.0 (10th of 12).

Valuation

Latest price and trailing 12 months
P/E 58.96
vs peers 60.0 · 7th of 13
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 10.47
vs peers 7.0 · 10th of 12
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹84,284 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 0.2%
vs peers 0.3% · 5th of 7
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 18.54
vs peers 17.7 · 5th of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 6.37
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Max Healthcare Institute a quality business?

Quality score 56.9, 5th of 13 in its peer set; CAUTION on 28 of 30 flags judged.

Quality and risk

Data as of 13 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 56.9
vs peers 37.9 · 5th of 13
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CAUTION
28 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 8.3%
vs peers 8.6% · 7th of 13
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 10.3%
vs peers 10.4% · 7th of 13
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 16.4%
vs peers 8.4% · 1st of 13
Profit after everything, as a share of revenue. Learn more →
EPS ₹14.82
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Max Healthcare Institute made money for shareholders?

Mixed: −24.3% over one year and +20.9% a year over five years.

Shareholder returns

1-year return −24.3%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +20.9% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−4.0%
1M
−15.9%
3M
−21.7%
6M
−9.0%
1Y
−24.3%
3Y
+17.5%
5Y
+20.9%

Does Max Healthcare Institute pay a dividend?

Yes. Max Healthcare Institute's dividend yield is 0.21% at the latest price; the last payout was ₹2.00 a share, ex-dividend 3 Jul 2026.

Dividends

Per share, by ex-dividend date
Dividend yield0.21%
The past 12 months' dividends as a share of today's price.
3 Jul 2026 · Final₹2.00
4 Jul 2025 · Final₹1.50
23 Aug 2024 · Final₹1.50
8 Sep 2023 · Final₹1.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Max Healthcare Institute growing?

Revenue 3 years 19.8% a year; profit 3 years 9.3% a year; revenue 5 years 15.7% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 19.8% a year
vs peers 16.5% · 6th of 13
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 9.3% a year
vs peers 11.1% · 9th of 13
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 15.7% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 19.2% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 9.2% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -18.3%
vs peers 2.6% · 2nd of 10
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Max Healthcare Institute do last quarter?

Max Healthcare Institute reported revenue of ₹2,366 Cr, up 19.1% on a year earlier and a net profit of ₹323 Cr, up 34.1% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹2,366 Cr
+19.1% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹323 Cr
+34.1% on a year earlier
What was left for shareholders after every cost and tax.

How does Max Healthcare Institute compare with its peers?

Compared with 12 Hospital; 7th of 13 on P/E; 5th of 13 on quality score.

Compared with 12 Hospital

12 companies

Max Healthcare Institute against its peers

Largest 10 of 12 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Max Healthcare Institute Ltd₹84,284 Cr59.010.58.3%10.3%−24.3%
Apollo Hospitals Enterprise Ltd₹1.1 L Cr55.210.716.0%17.5%+1.4%
Manipal Health Enterprises Ltd₹89,321 Cr93.8—6.9%8.4%+1.8%
Aster DM Quality Care Ltd₹59,221 Cr113.28.89.6%10.9%−3.0%
Fortis Healthcare Ltd₹57,169 Cr56.66.52.1%4.0%−30.9%
Global Health Ltd₹35,206 Cr63.46.413.2%15.9%−3.9%
Narayana Hrudayalaya Ltd₹34,582 Cr42.812.621.0%18.4%−3.8%
Krishna Institute of Medical Sciences Ltd₹29,577 Cr138.310.211.3%12.6%−1.3%
Dr Agarwals Health Care Ltd₹15,065 Cr101.96.51.9%5.0%−8.5%
Rainbow Childrens Medicare Ltd₹12,483 Cr44.57.015.7%17.3%−7.7%
Park Medi World Ltd₹10,995 Cr37.59.57.5%10.0%+72.0%
Peer median—60.07.08.6%10.4%−1.7%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

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Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Max Healthcare Institute?

Max Healthcare Institute is held by promoters 23.7%, foreign institutions 41.8%, domestic institutions 30.0%.

Shareholding pattern

Latest filing, percent of shares
Promoters23.7%
The founders and controlling group.
Foreign institutions41.8%
Overseas funds investing through the FPI route.
Domestic institutions30.0%
Indian insurers, banks, pension and mutual funds together.
Mutual funds18.7%
Indian mutual fund schemes; part of domestic institutions.
Retail and others2.3%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Max Healthcare Institute?

24 analysts cover Max Healthcare Institute, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

24 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Max Healthcare Institute do and what is it sensitive to?

Max Healthcare Institute Limited provides hospital care, diagnostics, ambulatory and home healthcare services to patients, per its filings. Sensitive to: interest rates on floating-rate borrowings.

Business-model card

FY2025 · 43 verified
3Revenue
4Channels
4Regulators
4Reg. dependencies
5Sensitivities
3Costs
4Geographies

Max Healthcare Institute Limited provides hospital care, diagnostics, ambulatory and home healthcare services to patients, per its filings. Its largest reported revenue line is healthcare services (net), with pharmacy sales and operation and management fees as smaller lines.

Revenue engine

3 verified
Revenue from healthcare services (net)
Largest revenue line in the disaggregated table, reported net of discounts and expected disallowances. Interpretation: the line is the bulk of revenue from contracts with customers.
Sale of drug and pharmaceuticals supplies
Pharmacy and pharmaceutical items are recognised as revenue on delivery, when control transfers to the customer. GST collected for the government is excluded from revenue.
Operation and Management service fees
Fee line in the revenue table. Interpretation: the excerpts do not describe the underlying arrangement.

Customers & channels

4 verified
Patients seeking treatment, opinions, pathology, radiology and home wellness services
Patients are the direct customers for hospital, diagnostic and home services. The excerpt names this as the customer base.
Third-party payors and institutional insurance contracts
Revenue from third-party payors is recorded net of disallowances and discounts, and is measured against per-category allowance percentages for TPA and PSU customers.
Institutional contracts with insurers
As insured volumes rise, hospitals engage through institutional contracts. Mechanism: evolving pricing dynamics and revenue visibility, per the excerpt.
1 more statement
International patients (medical value travel)
International patients are part of occupancy and revenue, with higher ARPOB than the overall Network. Interpretation: a higher-yield segment that depends on source-country demand.

Regulators

4 verified
Clinical Establishment Act (state and central registration)
Governs registration and regulation of the clinical establishments the company operates.
Drugs and Cosmetics Act and Rules
Governs the pharmacy and pharmaceutical supplies sold by the company.
Atomic Energy Act and X-ray safety code
Governs diagnostic X-ray equipment and installations, which the company's diagnostic and radiology services use.
1 more statement
Government schemes CGHS and ECHS (pricing)
Revisions to these government schemes are cited as affecting realisations and margins.

Regulatory dependencies

4 verified
Price controls on consumables and diagnostics
Mechanism: expansion of price controls may reduce realisations and margins. Interpretation: a tighter cap lowers revenue per service without a matching cost change.
GST on IPD drugs litigation
Ongoing high-stake litigation with industry-wide ramifications. Interpretation: an adverse ruling would move tax cost on inpatient drugs.
Licences and accreditations
Delays or rejections in licences and accreditations can hold back new capacity. Interpretation: this affects the timing of revenue from new beds and services.
1 more statement
Clinical protocol and accreditation changes
Changes in clinical protocols and accreditation requirements may raise compliance costs, per the excerpt.

Sensitivities

5 verified
Interest rates on floating-rate borrowings
Direction: a rise in market rates lowers profit before tax on floating-rate debt. The table shows an effect of 328 lakh for a 0.50% change in FY2026 and 240 lakh in FY2025.
Foreign exchange rates
Exposure arises from operating revenue or expense denominated in foreign currency. Interpretation: partly offset by buying goods from the same countries.
Energy and fuel prices
Direction: fuel and power price increases raise operating costs, per the risk table. Interpretation: this hits the power and fuel expense line.
2 more statements
Extreme weather
Floods, heatwaves and storms may interrupt healthcare service delivery, per the excerpt.
Decline in medical visas from certain geographies
Demand for international patients has moderated mainly because of fewer medical visas from certain geographies.

Cost inputs

3 verified
Medical consumables, equipment, utilities and operating inputs
Driver: inflation in these inputs may reduce cost efficiency, per the excerpt.
Salaries, wages and bonus
Reported as 41,488 lakh for the year ended March 31, 2025, in other expenses. Interpretation: the largest single expense line in the excerpt's table.
Purchases from trading houses (1.1%)
Share of total purchases from trading houses, stated as 1.15% for FY 2025-26 and 0.22% for FY 2024-25.

Geographies

4 verified
India
The revenue-by-geography table shows India as the full revenue figure for both years. Interpretation: the Outside India line is nil, which conflicts with the 6.55% export figure in another excerpt.
Exports (6.5%)
Export share of total turnover. Interpretation: the excerpt does not name the countries, and the international offices in 12 countries are excluded from the reporting boundary.
Delhi-NCR network concentration
A significant share of network revenue is concentrated in the NCR region, exposing the business to local economic or regulatory disruption.
1 more statement
Medical tourism source markets
Patient inflows are supported by Patient Assistance Centres in key source markets. Interpretation: this is the company's overseas patient-acquisition footprint.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (13 Aug 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Corporate actionDividend - Rs 2 Per Share.
  3. Results filedQ4 FY2026 results filed.
  4. Results filedQ3 FY2026 results filed.
  5. Results filedQ2 FY2026 results filed.
  6. Results filedQ1 FY2026 results filed.
  7. Corporate actionDividend - Rs 1.50 Per Share.
  8. Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsCAUTION on 28 of 30 flags judged; 3 red; 2 could not be judged.
  • Data gapsBusiness quality, EPS 5 years: not available yet.
Not applicable to this company · 1
  • Altman ZAltman Z is a manufacturing model; a service business has no inventory or plant turnover for it to read.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓73 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 43 verified

Questions people ask

What is Max Healthcare Institute's share price today?

Max Healthcare Institute last traded at ₹854.75 on the NSE, as of 13 Oct 2026, 1:00 pm IST, down 1.3% on the day, down 24.3% over a year. Its 52-week range is ₹842 to ₹1,222. The live price is in the app.

What is Max Healthcare Institute's market cap?

Max Healthcare Institute's market capitalisation is about ₹84,284 crore: what it would cost to buy every share at today's price. That makes it the 32nd largest mid cap company we cover.

Is Max Healthcare Institute Ltd a large cap, mid cap or small cap?

Max Healthcare Institute Ltd (MAXHEALTH) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Max Healthcare Institute Ltd's P/E ratio?

58.96, vs peers 60.0 · 7th of 13. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Max Healthcare Institute Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 59.0 vs peers 60.0 (7th of 13); P/B 10.5 vs peers 7.0 (10th of 12).

How does Max Healthcare Institute Ltd make money?

Max Healthcare Institute Limited provides hospital care, diagnostics, ambulatory and home healthcare services to patients, per its filings. Its largest reported revenue line is healthcare services (net), with pharmacy sales and operation and management fees as smaller lines.

Who are Max Healthcare Institute Ltd's peers?

Compared with 12 Hospital: Apollo Hospitals Enterprise Ltd, Manipal Health Enterprises Ltd, Aster DM Quality Care Ltd, Fortis Healthcare Ltd, Global Health Ltd and 7 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Max Healthcare Institute do last quarter?

Max Healthcare Institute reported revenue of ₹2,366 Cr, up 19.1% on a year earlier and a net profit of ₹323 Cr, up 34.1% in the Jun 2026 quarter.

Who owns Max Healthcare Institute?

Max Healthcare Institute is held by promoters 23.7%, foreign institutions 41.8%, domestic institutions 30.0%.

Does Max Healthcare Institute pay a dividend?

Yes. Max Healthcare Institute's dividend yield is 0.21% at the latest price; the last payout was ₹2.00 a share, ex-dividend 3 Jul 2026.

What do analysts say about Max Healthcare Institute?

24 analysts cover Max Healthcare Institute, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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