Max Healthcare Q3 Results Review - Strong Ebitda Despite Seasonally Weak Quarter: Prabhudas Lilladher

Prabhudas Lilladher Report

Max Healthcare Institute Ltd.'s Q3 FY23 Ebitda came above our estimates by 6%, aided by better occupancy (77% in Q3 versus 78% in Q2) in a seasonally weak quarter. Max Healthcare has shown phenomenal growth in past two years and we expect this momentum to continue given-

1. strong expansion plans (up 1500 additional beds by FY25E end),

2. improving payor mix (15% revenue contribution from institutional by FY25E versus 17% now) and

3. scale up in labs.

Max Healthcare Institute's operational efficiency has also been commendable, especially in competitive markets like National capital region. We expect 14% Ebitda compound annual growth rate over FY23-25E.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.