MAXIND

Max India Limited

Senior-care business with residences and assisted care services

Financial Services›Financial Services›Finance›Holding Company

maxindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹158.20
Market cap
891 Cr
Stock P/E
Loss (TTM EPS ₹-25.24)
P/B
2.03
ROE (FY26)
-29.8%
ROCE (FY26)
-26.1%
Operating margin (FY26)
-68.7%
Debt / equity (FY26)
0.0043

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Max India runs Antara, a senior-care business that sells apartments in communities built for older people, runs assisted-care homes with nursing and rehabilitation, and sells health products for seniors online.

Company snapshot

11thBy market cap

Ranked among 13 companies in Holding Company.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 52.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Asset held for sale—0 Cr0 Cr95 Cr
Assisted Care
52.7%
18 Cr-28 Cr173 Cr
Business Investments
13.2%
5 Cr-2 Cr51 Cr
Goodwill—0 Cr0 Cr0.12 Cr
Investment in joint ventures—0 Cr0 Cr14 Cr
Other
0.7%
0.23 Cr-0.06 Cr2 Cr
Senior Living
36.5%
13 Cr-3 Cr314 Cr

Shares add up to 103% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales49 Cr41 Cr45 Cr26 Cr43 Cr35 Cr42 Cr37 Cr45 Cr43 Cr66 Cr60 Cr
Operating expenses (approx.)54 Cr58 Cr65 Cr54 Cr64 Cr64 Cr81 Cr65 Cr75 Cr78 Cr79 Cr94 Cr
EBITDA-5 Cr-17 Cr-20 Cr-28 Cr-21 Cr-30 Cr-40 Cr-28 Cr-30 Cr-35 Cr-13 Cr-34 Cr
OPM %-9.2%-42.6%-44.7%-105.6%-49.5%-85.3%-95.9%-75.9%-67.0%-80.1%-20.1%-56.6%
Other income6 Cr4 Cr5 Cr6 Cr5 Cr4 Cr4 Cr5 Cr5 Cr7 Cr6 Cr9 Cr
Interest0.97 Cr1 Cr1 Cr1 Cr2 Cr2 Cr3 Cr4 Cr4 Cr3 Cr3 Cr3 Cr
Depreciation2 Cr2 Cr3 Cr4 Cr5 Cr5 Cr5 Cr6 Cr6 Cr6 Cr7 Cr7 Cr
Profit before tax-2 Cr-17 Cr-20 Cr-27 Cr-22 Cr-44 Cr-45 Cr-25 Cr-36 Cr-41 Cr-19 Cr-36 Cr
Tax %-159.7%-7.8%-6.2%-0.4%-3.3%-0.4%-1.7%-4.0%5.4%-3.5%-2.3%-1.9%
Net profit-5 Cr-18 Cr-22 Cr-27 Cr-23 Cr-45 Cr-46 Cr-26 Cr-34 Cr-43 Cr-19 Cr-36 Cr
EPS (₹)₹-1.09₹-4.15₹-5.00₹-6.25₹-5.27₹-10.33₹-10.67₹-5.44₹-6.52₹-8.17₹-3.67₹-6.91

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales87 Cr230 Cr201 Cr176 Cr145 Cr191 CrSign in free for the trailing twelve months
Operating expenses (approx.)108 Cr231 Cr201 Cr230 Cr264 Cr296 CrSign in free for the trailing twelve months
EBITDA-21 Cr-1 Cr0.50 Cr-54 Cr-119 Cr-106 CrSign in free for the trailing twelve months
OPM %-24.6%-0.5%0.2%-31.0%-81.5%-55.6%Sign in free for the trailing twelve months
Other income7 Cr8 Cr12 Cr19 Cr19 Cr23 CrSign in free for the trailing twelve months
Interest8 Cr10 Cr6 Cr5 Cr8 Cr14 CrSign in free for the trailing twelve months
Depreciation20 Cr9 Cr8 Cr10 Cr19 Cr25 CrSign in free for the trailing twelve months
Profit before tax-50 Cr-20 Cr-3 Cr-49 Cr-139 Cr-121 CrSign in free for the trailing twelve months
Tax %12.9%9.5%-244.4%-15.0%-1.3%-0.7%Sign in free for the trailing twelve months
Net profit-44 Cr-18 Cr-10 Cr-56 Cr-140 Cr-122 CrSign in free for the trailing twelve months
EPS (₹)₹-8.11₹-3.35₹-2.18₹-13.08₹-32.50₹-23.85Sign in free for the trailing twelve months
Dividend payout %——————Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital54 Cr54 Cr43 Cr43 Cr44 Cr53 Cr
Reserves599 Cr583 Cr499 Cr449 Cr315 Cr356 Cr
Borrowings90 Cr40 Cr22 Cr1 Cr1 Cr2 Cr
Other liabilities254 Cr177 Cr189 Cr191 Cr273 Cr259 Cr
Total liabilities998 Cr854 Cr753 Cr684 Cr633 Cr669 Cr
Fixed assets (net)89 Cr85 Cr71 Cr72 Cr56 Cr97 Cr
CWIP0 Cr0 Cr0 Cr10 Cr21 Cr2 Cr
Investments400 Cr247 Cr152 Cr131 Cr53 Cr34 Cr
Loans & advances0.60 Cr0 Cr0 Cr0.03 Cr0 Cr176 Cr
Inventories249 Cr130 Cr51 Cr6 Cr17 Cr16 Cr
Trade receivables7 Cr6 Cr3 Cr5 Cr22 Cr37 Cr
Cash & bank24 Cr29 Cr89 Cr116 Cr23 Cr27 Cr
Other assets227 Cr357 Cr388 Cr345 Cr441 Cr281 Cr
Total assets998 Cr854 Cr753 Cr684 Cr633 Cr669 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity73 Cr67 Cr69 Cr-102 Cr-128 Cr-95 Cr
Cash from investing13 Cr32 Cr124 Cr159 Cr47 Cr-50 Cr
Cash from financing-73 Cr-94 Cr-119 Cr-29 Cr-13 Cr148 Cr
Net cash flow12 Cr5 Cr75 Cr27 Cr-93 Cr4 Cr
Free cash flow (OCF − Capex)61 Cr63 Cr66 Cr-131 Cr-163 Cr-146 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-5.7%-1.4%0.6%-9.0%-36.2%-26.1%
ROE %-6.7%-2.8%-1.9%-11.5%-39.1%-29.8%
Debtor days3195105671
Inventory days106789105924145170140110
Days payable103387731082653261243
Cash conversion cycle9648298283067-473-65-62
Debt / equity0.140.060.040.00240.00400.0043
Current ratio3.493.592.862.471.582.35
Net debt / EBITDA——-132.62———