MAXHEALTH · Healthcare Facilities · INE027H01010
Analyst mean 2.20 · 25 analysts · 50% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is 113% of trailing profit — the earnings are converting to cash, not just accruals.
Last operating cash flow ₹1,633 cr against trailing net profit ₹1,442 cr. A ratio at or above ~0.9 means reported profit is showing up as real cash.
Both revenue and profit grew over the last year (19.2% and 34%) — growth is translating to the bottom line.
Trailing revenue ₹8,374 cr, trailing profit ₹1,442 cr. Profit growing at least as fast as revenue indicates operating leverage or pricing power.
Free cash flow swings between positive and negative across the cycle.
Latest ₹165 cr, negative in 2 of 10 years.
Borrowings rose 168% over two years while the company also carries ₹5 cr in investments. Why borrow at interest while parking money elsewhere is a fair question.
Borrowings moved to ₹3,478 cr from ₹1,299 cr. Simultaneous large investments can be legitimate treasury management, or a sign that reported cash is not freely available.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,543 | 1,707 | 1,868 | 1,910 | 2,028 | 2,135 | 2,068 | 2,143 |
| Expenses | 1,156 | 1,257 | 1,369 | 1,398 | 1,505 | 1,560 | 1,529 | 1,536 |
| Other Income | 35 | 41 | -40 | 47 | 37 | 33 | -3 | 48 |
| Depreciation | 77 | 84 | 98 | 101 | 104 | 108 | 111 | 123 |
| Profit before tax | 321 | 374 | 309 | 402 | 400 | 446 | 365 | 465 |
| Net Profit | 236 | 282 | 239 | 319 | 308 | 491 | 301 | 342 |
| EPS | 2.43 | 2.90 | 2.46 | 3.28 | 3.17 | 5.05 | 3.09 | 3.52 |
| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 966 | 970 | 971 | 972 | 972 | 973 |
| Reserves | 4,673 | 5,313 | 6,439 | 7,436 | 8,409 | 9,774 |
| Borrowings | 1,101 | 913 | 689 | 1,299 | 3,010 | 3,478 |
| Fixed Assets | 6,536 | 7,018 | 7,039 | 8,784 | 11,502 | 12,991 |
| CWIP | 27 | 151 | 252 | 553 | 901 | 593 |
| Investments | 1 | 1 | 1 | 2 | 3 | 5 |
| Total Assets | 8,543 | 9,189 | 10,102 | 12,000 | 15,186 | 17,184 |