Max Healthcare Institute Ltd · NSE:MAXHEALTH
Max Healthcare Institute — Q1 FY25 Earnings Presentation
40 slides from Max Healthcare Institute's earnings presentation, Aug 1, 2024
Slide 1: Exchange filing cover letter
August 1, 2024 Listing Department, Listing Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Symbol: MAXHEALTH Scrip Code: 543220 Sub.: Press
Slide 2: Press Release: Max Healthcare accelerates its growth momentum in Q1
PRESS RELEASE Max Healthcare accelerates its growth momentum in Q1 Successfully launches 303-bed hospital in NCR & integrates 600+ beds acquired in Q4 and executes an agreement to lease for built-to-suit 250 bed hospital in Mohali Gross Revenue jumps by +18% YoY & Operating EBITDA grows by +14% YoY
Slide 3: Press Release
PRESS RELEASE recording a growth of +21% YoY & +6% QoQ. Further, Max Lab services are now available across 49 cities. Max@Home gross revenue during Q1 FY25 was INR 49 Cr, a growth of +23% YoY & +6% QoQ, driven primarily by critical care, medical rooms & physio@home verticals. Profit after tax (PAT)
Slide 4: Press Release: Clinical Update
PRESS RELEASE Clinical Update: • ~2,900 Liver Transplants, ~4,160 Kidney Transplants & 1,830 Bone Marrow Transplants performed till date • Brain Tumor affecting vital structures of the 7-year-old girl diagnosed with complex retroperitoneal tumor successfully removed at Max Hospital Dehradun • Nanava
Slide 5: Press Release: About Max Healthcare
PRESS RELEASE About Max Healthcare: Max Healthcare Institute Limited (Max Healthcare) is one of India’s largest healthcare organizations. It is committed to the highest standards of clinical excellence and patient care, supported by latest technology and cutting-edge research. Max Healthcare operate
Slide 6: Safe Harbour Disclaimer
PRESS RELEASE Safe Harbour Disclaimer This release contains certain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Max Healthcare Institute Limited’s (“MHIL”) future business develop
Slide 7: Earnings update – Q1 FY25
Earnings update – Q1 FY25 Aug 01, 2024
Slide 8: Disclaimer
Disclaimer This presentation contains certain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Max Healthcare Institute Limited’s (“MHIL” / “MHC”) future business developments and econ
Slide 9: Notes to Network Consolidated Financials
Notes to Network Consolidated Financials 1. Max Healthcare Institute Limited (“MHIL”), its subsidiaries and deemed separate entities (i.e. silos for managed healthcare facilities) constitute MHIL Group under IND AS 110 . MHIL Group also has long term contracts with certain societies, who own and ope
Slide 10: Content
Content Q1 FY25 Highlights 5 About the Company 23 4
Slide 11: Q1 FY25 Highlights
By MAX Healthcare Q1 FY25 Highlights
Slide 12: Executive Summary: Q1 FY25 (1/2)
Executive Summary: Q1 FY25 (1/2) Launched 303-bedded Max Super Specialty Hospital at Dwarka, Delhi (Max Dwarka) on 2nd July ‘24. Located in the heart of Launched Max South West Delhi, the hospital is equipped with cutting-edge technology, including advanced imaging and surgical robots Dwarka It is o
Slide 13: Executive Summary: Q1 FY25 (2/2)
Executive Summary: Q1 FY25 (2/2) International patient revenue was INR 158 Cr in Q1 FY25 compared to INR 143 Cr in Q1 FY24 and INR 158 Cr in Q4 FY24, reflecting a growth of +11% YoY ; accounting for ~8.3% of the hospital revenue. Revenue from credit customer segment witnessed a drop due to credit ri
Slide 14: Highlights
By MAX Healthcare Highlights
Slide 15: Key Financial Highlights
Key Financial Highlights Gross Revenue (INR Cr) Operating EBITDA (INR Cr) +12.2% +11.8% 1,929 2,028 503 487 499 1,890 1,719 +18.0% 436 +14.4% Q1 FY24 Q4 FY241 Q1 FY25 Q1 FY25 Q1 FY24 Q4 FY241 Q1 FY25 Q1 FY25 Existing Overall Existing Overall Margin2 (%) : 26.8% | 27.9% | 26.5% | 25.8% Operating EBIT
Slide 16: Key Operational Highlights
Key Operational Highlights ARPOB1 (INR/OBD) (‘000) Inpatient Volumes3 +7.1% 5.5% 66,011 76.9 80.1 77.1 58,153 59,621 74.8 56,513 16.8% +3.1% Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY25 Q1 FY24 Q4 FY242 Q1 FY25 Q1 FY25 Existing Overall Existing Overall ALOS4 (in days) Outpatient consults (‘000) +4.5% 4.1 4.2 4.1
Slide 17: Speciality Profile
Speciality Profile Q1 FY24 Q1 FY25# Others Others Pulmonology 9.2% Pulmonology 9.4% Liver and biliary Oncology* Liver and biliary Oncology* sciences 3.2% 3.4% 25.2% sciences 25.1% 3.4% 3.8% MAS and OBGY and general surgery pediatrics 5.2% 5.7% MAS and OBGY and Gross IP revenue general surgery 5.3% p
Slide 18: Payor Profile
Payor Profile Share of Revenue* Q1 FY24 Q1 FY25# 17.9% 18.4% 34.1% 34.9% 8.9% 8.3% 38.6% 38.9% Self Pay TPA & corporates International Institutional Note: *Excludes revenue from SBUs and other operating income # Includes New Units 12
Slide 19: Launched 303 bedded Max Super Specialty Hospital, Dwarka
Launched 303 bedded Max Super Specialty Hospital, Dwarka, further strengthening Max’s presence in NCR Max Super Specialty Hospital Dwarka is a 303-bed, 5-star GRIHA compliant hospital built to exacting standards, offering tertiary and quaternary care. It has a built up area of 6.8 L sft, spread over
Slide 20: Update on New Unit Operating Performance in Q1 FY25
Update on New Unit Operating Performance in Q1 FY25 Q1 FY24* Q1 FY25 Max Super Specialty Hospital, Lucknow • Post Merger Integration activities for Max Lucknow are on Operational Occupancy : Beds : 234 59% • Most of the new operating licenses have already been obtained • IT integration completed in
Slide 21: Network P&L Statement: Q1 FY25
Network P&L Statement: Q1 FY25 Figs in INR Cr Q1 FY24 Q4 FY24 Q1 FY251 Amount % NR Amount % NR Amount % NR Gross revenue 1,719 1,890 2,028 Net revenue 1,629 100.0% 1,800 100.0% 1,935 100.0% Direct costs 650 39.9% 707 39.3% 773 39.9% Contribution 979 60.1% 1,093 60.7% 1,162 60.1% Indirect overheads2
Slide 22: Q1 FY25: Memorandum Consolidation of Network P&L
Q1 FY25: Memorandum Consolidation of Network P&L Figs in INR Cr MHIL, its Partner Healthcare Facilities ("PHF") Financials subsidiaries & Eliminations MHC Network (IGAAP Unaudited)* Silos & (Consolidated) GM Modi Adjustment(2) (Certified by an IND AS Balaji Devki Devi IND AS ICA) Society Unaudited S
Slide 23: Gross revenue from hospitals, by region
Gross revenue from hospitals, by region Gross Revenue1 (INR Cr) Operational beds (as at end of Jun’24) 1,174 Delhi 1,131 2,079 1,047 279 621 Uttar Pradesh2 221 184 192 452 Maharashtra3 174 140 135 312 Punjab4 131 145 78 219 Uttarakhand 73 66 71 104 Haryana 66 57 Q1 FY25 Q4 FY24 Q1 FY24 (1)Excludes r
Slide 24: Max Lab: Key performance indicators
Max Lab: Key performance indicators Operational footprint Gross Billing Value (INR Cr) Net revenue (INR Cr) (as of June, 2024) +25% +21% 535 68 41 Partner-run 63 64 38 38 56 33 34 collection centres 54 24 Company owned collection centres (CoCC) Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 FY24 FY24 FY24 FY24 FY25
Slide 25: Max@Home: Key performance indicators
Max@Home: Key performance indicators Key Pointers Gross revenue (INR Cr) Quarterly Gross Revenue Trend (INR Cr) (as of June, 2024) +23% 172 +36.2% 44 46 49 14 139 42 Specialised 40 110 Service Lines 76 70 61 27 ~1,300 Strong Team* FY18 FY19 FY20 FY21 FY22 FY23 FY24 Q1 Q2 Q3 Q4 Q1 FY24 FY24 FY24 FY24
Slide 26: Clinical and Research & Academics update
Clinical and Research & Academics update 20
Slide 27: Clinical Update
Clinical Update 2,900 Liver Transplants, ~4,160 Kidney Transplants & ~1,830 Bone Marrow Transplants performed till date Brain Tumor affecting vital structures of the 7-year-old girl diagnosed with complex retroperitoneal tumor successfully removed at Max Hospital Dehradun Nanavati Max successfully p
Slide 28: Research and Academics Update
Research and Academics Update National and international publications ~75 scientific publications in high impact factor journals during Q1 FY25 Top high Index and high impact factor publications are from Cardiology (NEJM: 20.54), Cardiology (Lancet: 12.11) , Oncology (Journal of Clinical Oncology: 1
Slide 29: About the Company
By MAX Healthcare About the Company
Slide 30: Max Healthcare: India's Second Largest Hospital Chain
Max Healthcare: India’s Second Largest* Hospital Chain in terms of revenue, EBITDA and market capitalisation Current capacity ~4,300 beds 20 ~75% ~75% NCR Facilities Beds in metros Q1 FY25 Occupancy 402 Shalimar Bagh 516 402 387 BLK Patparganj 23% 44% ~33% Eqova Vaishali Revenue CAGR^ EBITDA CAGR^ Q
Slide 31: Vision: To be the Most Well Regarded Healthcare Provider in India
Vision: To be the Most Well Regarded Healthcare Provider in India To be the most well regarded healthcare provider in India committed to the highest standards of clinical excellence and patient care supported by latest technology and cutting edge research Quaternary care facilities World class infra
Slide 32: State-of-the-art infrastructure
State-of-the-art infrastructure Da Vinci Robotic System Cath Lab: Azurion 5 M20 LINAC Machine (Edge) Advanced robotics provides high precision Cathlab is used to visualize the arteries of High precision and integrated LINAC is a and enables minimal invasive surgery the heart and the chambers of the
Slide 33: Strong Focus on Research and Academics
Strong Focus on Research and Academics Research: Academics: Significant strategic partnerships: Imperial College London, Ashoka Max Institute of Medical Education (MIME) is the education division of University, IIT Bombay, IIIT Delhi, IIIT D iHub Innovation Center, IIT MHC for medical education & tr
Slide 34: Historical Financial Performance Snapshot
Historical Financial Performance Snapshot Figs in INR Cr FY21 FY22 FY23 FY24 Amount % NR Amount % NR Amount % NR Amount % NR 1 Gross revenue 3,881 5,509 6,236 7,215 Net revenue 3,629 100.0% 5,218 100.0% 5,904 100.0% 6,849 100.0% Direct costs 1,508 41.6% 2,103 40.3% 2,304 39.0% 2,675 39.1% Contributi
Slide 35: Strong financial profile to support future growth
Multiple avenues for future growth • Focus on tower specialities & case mix Optimising Existing 1 2 Infrastructure • Increase utilization & improve process efficiencies Strong free cash flows from • Optimize payor mix operations INR ~258 Cr in Q1 FY25 3.1 Brownfield • ~2,600 beds addition via brownf
Slide 36: Awards and Accolades
Awards and Accolades Operational Clinical Safety Service Quality Others Excellence Patient Safety Award Forbes India Economic Times Certified Great Place to by FICCI ‘Entrepreneur Of The Healthcare Award 2022 Work by Great Place to Year’ 2023 Award under five categories Work Institute Diamond Award
Slide 37: Network Holding Structure
Network Holding Structure (As at end of June’24) Balaji Society (Max Patparganj) Max Shalimar Bagh Valid till 2065 Max Dehradun Max Panchsheel Max Healthcare Institute Medical Service Agreement Immigration centre (Lajpat Nagar) Max Saket (West) Limited (MHIL) Devki Devi Society SBUs (MIME, Max@Home)
Slide 38: List of Network Healthcare Facilities
List of Network Healthcare Facilities As on Jun’24 Name Location Description Max Super Speciality Hospital, (West Block) Saket Delhi Hospital Max Super Speciality Hospital, (East Block) Saket Delhi Hospital Max Smart Super Speciality Hospital, Saket Delhi Hospital Max Smart Super Speciality Hospital
Slide 39: Definitions
Definitions Term Description ALOS Average Length of Stay: discharged patients stay in the hospital, basis admission and discharge time Average Revenue per Occupied Bed; Gross revenue divided by the occupied bed days; excludes revenue from Covid-19 ARPOB vaccination & related antibody tests and Max L
Slide 40: About Us
About Us Max Healthcare Institute Limited (Max Healthcare) is one of India’s largest healthcare For further information, please visit organizations. It is committed to the highest standards of clinical excellence and patient care, supported by latest technology and cutting-edge research. www.maxheal
Max Healthcare Institute — Q1 FY25 Earnings Presentation on 6ix