MAX HEALTHCARE INS LTD (MAXHEALTH) financials

MAX HEALTHCARE INS LTD (MAXHEALTH) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Max Healthcare Institute Limited is primarily engaged in the providing healthcare services through primary care clinics, multi-speciality hospitals / medical centres and super-speciality hospitals providing operation and management, medical services, clinical, radiology, pathology services and related healthcare services.[1]

Market Cap: ₹82,342Cr.
Current Price: ₹846
Stock P/E: 113
ROE: 8.46%
ROCE: 10.5%
Book Value: ₹91.9
Dividend Yield: 0.24%
52W High / Low: ₹1,222/842

In Jun 2026, MAX HEALTHCARE INS LTD (MAXHEALTH) reported sales ₹783 Cr and net profit ₹168 Cr.

Annual TTM: sales ₹2,963 Cr, net profit ₹718 Cr.

Shareholding: Promoters 23.71% (Sep 2026), FIIs 40.52% (Sep 2026), DIIs 31.01% (Sep 2026), Public 4.76% (Sep 2026), No. of Shareholders 2,22,167% (Sep 2026).

MAXHEALTH quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	686	697	659	694	737	711	733	783
Expenses	461	461	484	506	523	507	518	600
Operating Profit	225	236	175	188	214	204	215	182
OPM %	33%	34%	27%	27%	29%	29%	29%	23%
Other Income	134	18	98	80	47	68	91	92
Interest	8	23	9	9	9	11	11	12
Depreciation	32	33	36	35	37	36	35	37
Profit before tax	318	198	227	223	216	225	260	226
Tax %	27%	30%	22%	26%	26%	17%	22%	26%
Net Profit	231	138	177	166	160	187	203	168
EPS in Rs	2.38	1.42	1.82	1.71	1.65	1.92	2.09	1.72
Raw PDF	—	—	—	—	—	—	—	—

MAXHEALTH profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	59	1,031	1,775	1,905	2,341	2,664	2,874	2,963
Expenses	65	870	1,332	1,321	1,579	1,830	2,054	2,148
Operating Profit	-6	161	443	584	762	833	821	815
OPM %	-10%	16%	25%	31%	33%	31%	29%	28%
Other Income	66	-104	128	144	271	293	286	299
Interest	60	112	59	52	52	48	40	43
Depreciation	3	91	112	113	117	131	143	144
Profit before tax	-3	-146	400	563	865	947	924	927
Tax %	-5%	12%	17%	-23%	21%	26%	22%	—
Net Profit	-3	-164	332	694	687	701	717	718
EPS in Rs	-0.06	-1.70	3.42	7.15	7.07	7.21	7.36	7.38
Dividend Payout %	0%	0%	0%	14%	21%	21%	27%	—

MAXHEALTH balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	537	537	966	970	971	972	972	973
Reserves	749	2,338	4,973	5,342	6,071	6,709	7,317	7,967
Borrowings	390	658	480	556	534	443	612	825
Other Liabilities	274	20	724	945	845	945	1,065	1,125
Total Liabilities	1,951	3,553	7,143	7,812	8,420	9,069	9,967	10,890
Fixed Assets	479	90	2,989	4,493	4,485	4,717	4,871	4,909
CWIP	10	0	8	60	103	235	277	509
Investments	770	2,471	2,379	1,447	1,475	1,915	2,614	2,626
Other Assets	693	992	1,766	1,811	2,358	2,202	2,206	2,847
Total Assets	1,951	3,553	7,143	7,812	8,420	9,069	9,967	10,890

MAXHEALTH cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-19	-36	219	447	696	613	594	503
Cash from Investing Activity	55	-2,536	-84	-670	-843	-806	-870	-426
Cash from Financing Activity	-36	2,332	397	-161	-54	-246	-28	39
Net Cash Flow	-0	-240	532	-384	-201	-438	-304	116
Free Cash Flow	-66	-39	189	78	579	156	344	153
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-35%	467%	122%	111%	134%	100%	93%	86%

MAXHEALTH shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	23.74%	23.74%	23.74%	23.74%	23.72%	23.71%	23.71%	23.71%
FIIs	56.93%	54.74%	54.76%	51.80%	50.55%	45.39%	41.78%	40.52%
DIIs	15.55%	17.59%	17.41%	20.03%	21.20%	26.32%	29.95%	31.01%
Public	3.77%	3.94%	4.09%	4.43%	4.52%	4.58%	4.55%	4.76%
No. of Shareholders	1,40,028	1,51,633	1,62,119	1,80,891	2,03,837	2,16,996	2,24,606	2,22,167

MAXHEALTH key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	103	517	109	56	27	32	40	53
Inventory Days	25	—	33	20	31	24	20	18
Days Payable	335	—	297	159	226	225	186	165
Cash Conversion Cycle	-206	517	-155	-83	-169	-169	-125	-94
Working Capital Days	14	-493	27	5	-45	-32	-22	-16
ROCE %	2%	2%	4%	7%	9%	12%	13%	10%

MAXHEALTHUpdated 19 Oct 2026, 5:48

Max Healthcare Ins Ltd

MAXHEALTHUpdated 19 Oct 2026, 5:48

Market Cap

₹82,342Cr.

Current Price

₹846

High / Low

₹1,222/842

Stock P/E

113

ROE8.46%

ROCE10.5%

Book Value₹91.9

Face Value₹10.0

Dividend Yield0.24%

About

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	544	14	384	43	28	161	22	126	1.3
Sep 2023	597	13	394	48	28	210	23	161	1.66
Dec 2023	591	10	391	43	30	203	22	158	1.63
Mar 2024	610	15	407	134	32	291	17	242	2.49
Jun 2024	621	8	423	43	30	203	24	154	1.59
Sep 2024	686	8	461	134	32	318	27	231	2.38
Dec 2024	697	23	461	18	33	198	30	138	1.42
Mar 2025	659	9	484	98	36	227	22	177	1.82
Jun 2025	694	9	506	80	35	223	26	166	1.71
Sep 2025	737	9	523	47	37	216	26	160	1.65
Dec 2025	711	11	507	68	36	225	17	187	1.92
Mar 2026	733	11	518	91	35	260	22	203	2.09
Jun 2026	783	12	600	92	37	226	26	168	1.72

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	790	43	768	33	49	-38	0	-38	-0.78
Mar 2016	912	30	890	35	50	-24	0	-24	-0.44
Mar 2017	984	35	941	30	51	-13	0	-13	-0.24
Mar 2018	1059	41	1048	51	49	-28	0	-28	-0.51
Mar 2019	1008	44	976	47	53	-18	26	-23	-0.43
Mar 2020	59	60	65	66	3	-3	-5	-3	-0.06
Mar 2021	1031	112	870	-104	91	-146	12	-164	-1.7
Mar 2022	1775	59	1332	128	112	400	17	332	3.42
Mar 2023	1905	52	1321	144	113	563	-23	694	7.15
Mar 2024	2341	52	1579	271	117	865	21	687	7.07
Mar 2025	2664	48	1830	293	131	947	26	701	7.21
Mar 2026	2874	40	2054	286	143	924	22	717	7.36
TTM	2963	43	2148	299	144	927	—	718	7.38

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	23.71%
FIIs	40.52%
DIIs	31.01%
Public	4.76%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Dec 2023	23.75%	60.69%	11.55%	3.99%
Mar 2024	23.75%	57.33%	14.96%	3.97%
Jun 2024	23.74%	56.99%	15.36%	3.91%
Sep 2024	23.74%	57.29%	15.14%	3.84%
Dec 2024	23.74%	56.93%	15.55%	3.77%
Mar 2025	23.74%	54.74%	17.59%	3.94%
Jun 2025	23.74%	54.76%	17.41%	4.09%
Sep 2025	23.74%	51.8%	20.03%	4.43%
Dec 2025	23.72%	50.55%	21.2%	4.52%
Mar 2026	23.71%	45.39%	26.32%	4.58%
Jun 2026	23.71%	41.78%	29.95%	4.55%
Sep 2026	23.71%	40.52%	31.01%	4.76%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	489	523	296	141	1449	430	15	451	554	1449
Mar 2016	533	762	273	171	1740	424	6	840	469	1740
Mar 2017	537	770	314	210	1832	429	30	866	508	1832
Mar 2018	537	773	386	278	1973	502	7	799	665	1973
Mar 2019	537	749	390	274	1951	479	10	770	693	1951
Mar 2020	537	2338	658	20	3553	90	0	2471	992	3553
Mar 2021	966	4973	480	724	7143	2989	8	2379	1766	7143
Mar 2022	970	5342	556	945	7812	4493	60	1447	1811	7812
Mar 2023	971	6071	534	845	8420	4485	103	1475	2358	8420
Mar 2024	972	6709	443	945	9069	4717	235	1915	2202	9069
Mar 2025	972	7317	612	1065	9967	4871	277	2614	2206	9967
Mar 2026	973	7967	825	1125	10890	4909	509	2626	2847	10890

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	39	-200	176	15
Mar 2016	64	-330	251	-16
Mar 2017	33	-66	34	0
Mar 2018	52	-89	36	0
Mar 2019	-19	55	-36	0
Mar 2020	-36	-2536	2332	-240
Mar 2021	219	-84	397	532
Mar 2022	447	-670	-161	-384
Mar 2023	696	-843	-54	-201
Mar 2024	613	-806	-246	-438
Mar 2025	594	-870	-28	-304
Mar 2026	503	-426	39	116

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	67	48	55	68	103	517	109	56	27	32	40	53
Inventory Days	20	18	19	22	25	—	33	20	31	24	20	18
Days Payable	171	183	206	250	335	—	297	159	226	225	186	165
Cash Conversion Cycle	-85	-117	-132	-161	-206	517	-155	-83	-169	-169	-125	-94
Working Capital Days	-15	-33	-20	-27	14	-493	27	5	-45	-32	-22	-16
ROCE %	—	0%	1%	1%	2%	2%	4%	7%	9%	12%	13%	10%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of MAX HEALTHCARE INS LTD (MAXHEALTH)?

The reported market capitalisation for MAX HEALTHCARE INS LTD (MAXHEALTH) is ₹82,342Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of MAXHEALTH?

The current price shown for MAX HEALTHCARE INS LTD (MAXHEALTH) on Fincrux is ₹846 with a 52-week high/low of ₹1,222/842.

What is the P/E ratio of MAX HEALTHCARE INS LTD (MAXHEALTH)?

The stock P/E for MAX HEALTHCARE INS LTD (MAXHEALTH) is 113 on Fincrux, with ROE at 8.46% and ROCE at 10.5%.

What were MAXHEALTH latest quarterly results?

For Jun 2026, MAX HEALTHCARE INS LTD (MAXHEALTH) reported sales ₹783 Cr and net profit ₹168 Cr (figures in ₹ crore unless noted).

What are MAXHEALTH annual sales and net profit?

For TTM, MAX HEALTHCARE INS LTD (MAXHEALTH) shows sales of ₹2,963 Cr and net profit of ₹718 Cr on the Fincrux profit & loss statement.

Who owns MAX HEALTHCARE INS LTD (MAXHEALTH)?

Latest shareholding for MAX HEALTHCARE INS LTD (MAXHEALTH) on Fincrux: Promoters 23.71% (Sep 2026), FIIs 40.52% (Sep 2026), DIIs 31.01% (Sep 2026), Public 4.76% (Sep 2026), No. of Shareholders 2,22,167% (Sep 2026).

Where can I find MAX HEALTHCARE INS LTD (MAXHEALTH) financials?

MAX HEALTHCARE INS LTD (MAXHEALTH) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show MAXHEALTH balance sheet and cash flow?

Yes. The MAX HEALTHCARE INS LTD (MAXHEALTH) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 19 October 2026 at 5:48