Healthcare Facilities company Max Healthcare Institute announced Q3FY25 results Gross Revenue stood at Rs 2,381 crore for Q3FY25, growth of +34% YoY & +7% QoQ. Network Operating EBITDA was Rs 622 crore, a growth of +32% YoY. Operating Margin stood at 27.3% compared to 27.9% in Q3FY24 and 26.6% in Q2FY25. PAT before Exceptional Itemsstood at Rs 390 crore in Q3FY25 compared to Rs 338 crore in Q3FY24 and Rs 349 crore in Q2FY25. Free Cash from Operations was Rs 303 crore in Q3FY25. EBITDA per bed was Rs 73.0 lakh compared to Rs 75.6 lakh in Q3FY24 and Rs 71.2 lakh in Q2FY25. Bed occupancy for the quarter was at 75%, with Occupied Bed Days (OBDs) up by ~36% YoY. ARPOB for Q3FY25 stood at Rs 75.9k as compared to Rs 76.8k in Q3FY24 and Rs 76.2k in Q2FY25. Free treatment provided to 37,465 patients in OPD and 1,264 patients in IPD from the economically weaker sections. Max Dwarka, a 303-bed greenfield hospital launched on July 2, 2024, reported EBITDA breakeven in December, 2024. The Board has approved execution of Agreement-to-Lease, a “built-to-suit” 500-bed hospital in Thane, Maharashtra. The Board has accorded approval for enhancing the bed capacity of upcoming “built-to-suit” hospital in Zirakpur (Mohali) to 400 beds from previous planned capacity of 250 beds. Jaypee Healthcare Limited (JHL) became a wholly-owned subsidiary of MHIL effective November 11, 2024. Abhay Soi, Chairman and Managing Director, Max Healthcare Institute, said: “We are delighted with our performance this quarter where we have delivered a robust growth of 34% in revenue and 32% in operating EBITDA. Over the course of this year we have been able to demonstrate remarkable operating efficiencies in all formats of inorganic growth namely greenfield, acquisitions and brownfield. We have achieved EBITDA breakeven within record time of 6 months from launch at our greenfield hospital in Dwarka. In addition, at our recently acquired hospitals in Lucknow and Nagpur, we have demonstrated a 67% and 118% YoY EBITDA growth respectively within 9 months of acquisition. Moreover, we continue to successfully pursue inorganic opportunities. We acquired the marquee Jaypee Hospital, Noida spread over 18 acres, in this quarter. We have also agreed to enter into a builtto-suit (‘BTS’) agreement for establishing a 500-bed hospital in the attractive Thane micro market to expand our footprint in the Mumbai Metropolitan Region and enhance planned capacity at the BTS hospital at Zirakpur, Mohali from 250 to 400 beds. Finally, with significant brownfield bed additions being commissioned within 6 months, we are poised for an exciting phase of accelerated growth.” Result PDF
Conference Call with Max Healthcare Institute Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Healthcare Facilities company Max Healthcare Institute announced Q2FY25 results Gross Revenue stood at Rs 2,228 crore for Q2FY25, growth of +22% YoY & +10% QoQ. Network Operating EBITDA was Rs 591 crore excluding Rs 18 crore loss at MSSH Dwarka and Jaypee Hospital one-time transaction expenses of Rs 7 crore, a growth of +19% YoY. Operating Margin excluding loss at MSSH Dwarka and Jaypee Hospital one-time transaction expenses stood at 28.2% compared to 28.7% in Q2FY24 and 25.8% in Q1FY25. PAT stood at Rs 349 crore in Q2FY25 Vs Rs 338 crore in Q2FY24 and Rs 295 crore in Q1FY25. PAT excluding net loss of Rs 26 crore from MSSH Dwarka was Rs 375 crore. Free Cash from Operations was Rs 464 crore in Q2FY25. Of this, Rs 217 crore was deployed for the ongoing expansion plans and upgradation of facilities at New Units. Net Cash as on Sep 30, 2024 was Rs 313 crore. EBITDA per bed,* was Rs 74.5 lakh compared to Rs 75.0 lakh in Q2FY24 and Rs 70.9 lakh in Q1FY25 Abhay Soi, Chairman and Managing Director, Max Healthcare Institute, said: “With the successful launch of MSSH Dwarka and acquisition of Jaypee Hospital, Noida, we have significantly augmented our capacity and capabilities to deliver high quality patient centric care in NCR. We are encouraged by the enthusiastic response and strong community support to our healthcare offeringsin the new geographies, leading to exceptional performance at New Units. With the planned expansions coming on stream in FY26, we are set to further enhance our capabilities, widen our reach, and deepen our services to cater to the varied needs of our patients.” Result PDF