Max Healthcare Institute Ltd · NSE:MAXHEALTH
Max Healthcare Institute — Q3 FY2021 Earnings Presentation
54 slides from Max Healthcare Institute's earnings presentation, Feb 6, 2021
Slide 1: Outcome of the Board Meeting held on February 06, 2021
February 06, 2021 Listing Department, Listing Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot C-1, Block G, 25th Floor, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Dalal Street, MUMBAI - 400 051 MUMBAI - 400 001 Symbol: MAXHEALTH Scrip Code: 543
Slide 2: Board meeting outcome letter (continued)
In terms of Regulation 47 of the Listing Regulations, the extract of Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2020 shall be published in the newspapers. The full format of the financial results shall be available on the website of the stock exchange
Slide 3: Max Healthcare reports strong growth in Q3
ANNEXURE - A PRESS RELEASE Max Healthcare reports strong growth in Q3, Network1 EBITDA2 grows 58% YoY3, Operating Margin expands to 23.2% PAT rises to INR 135 Cr, grows 243% YoY Gross revenue4 stood at INR 1160 Cr, a growth of 6% YoY and 24% QoQ. Highest ever5 network EBITDA at INR 253 Cr. 58 %
Slide 4: Press Release: Financial and Operational Highlights
ANNEXURE - A PRESS RELEASE The company continued to invest in technology and clinical talent. Max Vaishali is in advanced stage to commission its TomoTherapy® System which will offer a revolutionary radiotherapy for cancer treatment. With a view to enhance top-notch clinical talent, network hospital
Slide 5: Press Release: Clinical and Research Highlights
ANNEXURE - A PRESS RELEASE Prevented exenteration (removal of eyeball) on post COVID-19 patient with orbital mucormycosis and lost vision adopting the latest techniques Successfully performed cadaveric transplant involving both liver and kidney transplantation Research and Academics: 85 nation
Slide 6: About Max Healthcare
ANNEXURE - A PRESS RELEASE About Max Healthcare: Max Healthcare Institute Limited (MHIL) is one of India’s second largest hospital chain operator (considering only income from healthcare services) in fiscal 2020. It is committed to the highest standards of medical and service excellence, patient car
Slide 7: Safe Harbour Disclaimer
ANNEXURE - A 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 bus
Slide 8: Independent Auditor's Review Report (Consolidated)
Deloitte Haskins & Sells Chartered Accountants 7th Floor, Bui d ng 10, Tower B. DLF Cyber City Complet DLF City Pha\e • II, Gurugram • 122 002, Haryana, Indra Tel: +91 124 679 2000 Fax +911246792012 I NDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD
Slide 9: Independent Auditor's Review Report (Consolidated, continued)
Deloitte Haskins & Sells 6. Based on our review conducted and procedures performed as stated in paragraph 3 and 4 above, nothing has come to our attention that causes us to believe that the Consolidated Results included in the accompanying Consolidated Statement, prepared In accordance with the reco
Slide 10: Statement of Consolidated Unaudited Financial Results
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001PLC32285-4 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, Vile Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91- 22-26101035 STATEMENT OF CONSOLIDATED UNAUDITED
Slide 11: Notes to Consolidated Financial Results
MAX HEALTHCARE INSTITUTE LIMITED CIN : l72200MH2001 PLC322854 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, Vile Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com. Phone: +91- 22-26101035 Notes IQ .t he Consolidated unaudit
Slide 12: Notes to Consolidated Financial Results (continued)
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001 PLC322854 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, Vile Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91- 22-26101035 5 Pursuant to the Scheme becoming e
Slide 13: Notes to Consolidated Financial Results (Covid-19)
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001 PLC322854 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, Vile Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com. Phone: +91- 22-26101035 12 Post the outbreak of COVID-19, t
Slide 14: Independent Auditor's Review Report (Standalone)
Deloitte Haskins & Sells Chartered Accountants 7th Floor, Building 1o. Tower B. DLF Cyber City Complex, DLF City Phase • II, Gurugram • 122 002, Haryana. Indra Tel. +91 124 679 2000 Fa, •91 124 679 2012 INDEP END ENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINAN CIAL RESULTS TO THE B
Slide 15: Independent Auditor's Review Report (Standalone, continued)
Deloitte Haskins & Sells 6. We draw attention to note 14 to the Standalone Statement, which states that the management has restated the standalone financial results for the quarter ended September 30, 2020 In accordance with the requirements of Ind AS 8 'Accounting Policies, Changes in Accounting Es
Slide 16: Statement of Standalone Unaudited Financial Results
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001PLC322854 REGISTERED OFFICE: 401, 4th Floor, Man Excellenza, S. V. Road, Vile Parle (West), Mumbai 400056, Maharashtra Website -www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91- 22-26101035 STATEMENT OF STANDALONE UNAUDITED FINA
Slide 17: Notes to Standalone Financial Results
MAX HEALTHCARE INSTITUTE LIMITED CIN : l72200MH2001 PLC322864 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, VIie Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91- 22-26101035 Noles to the Standalone unaudited f
Slide 18: Notes to Standalone Financial Results (continued)
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001PLC322854 REGISTERED OFFICE : 401, 4th Floor, Man Excellenza, S. V. Road, VIie Parle (West), Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91- 22-26101035 6 The Company has only one reportabl
Slide 19: Exceptional Items Note
MAX HEALTHCARE INSTITUTE LIMITED CIN : L72200MH2001PLC322854 REGISTERED OFFICE : 401, 4th Floor, Man Excellena, S. V. Road, VUe Parle (Westl, Mumbai 400056, Maharashtra Website - www.maxhealthcare.in, Email-secretarial@maxhealthcare.com, Phone: +91· 22-26101035 15 Exceptional items durtng the quarte
Slide 20: Annexure C: Wholly-Owned Subsidiary in UAE
Annexure C Details of Wholly-Owned Subsidiary proposed to be incorporated in the United Arab Emirates (UAE) Sr. Particulars Details No. 1. Name of the target entity, Max Healthcare FZ LLC* and / or any details in brief such as size, other name as may be approved by the turnover etc. regulatory aut
Slide 21: Annexure C: Subsidiary Details (continued)
7. Nature of consideration - 100% subscription to the capital in cash whether cash consideration or share swap and details of the same 8. Cost of acquisition or the Not applicable price at which the shares are acquired 9. Percentage of shareholding / 100% control acquired and / or number of shares a
Slide 22: Annexure D: Guarantee to Third Party
Annexure D Details of Guarantee being provided to a Third Party Sr. No. Particulars Details 1. Name of party for which such Dr. Balabhai Nanavati Hospital (BNH) guarantees or indemnity or surety (Radiant Life Care Mumbai Private was given Ltd., a subsidiary of the Company, has operation and manageme
Slide 23: Q3 & 9M ended Dec'20 – Earnings update
Q3 & 9M ended Dec’20 – Earnings update February 06, 2021
Slide 24: 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 25: Notes to Network Consolidated Financials
Notes to Network Consolidated Financials 1. Healthcare undertaking of Radiant Life Care Private Limited (“Radiant”) and residual business of Max India Limited have merged into Max Healthcare Institute Limited (“MHIL” or “the Company”) through a NCLT approved Composite Scheme of Amalgamation and Arra
Slide 26: Content
Content Q3 FY21 Highlights 05 9M ended Dec’20 Highlights 15 Covid-19 Update 21 About the Company 24 4
Slide 27: Q3 FY21 Highlights
By MAX Healthcare Q3 FY21 Highlights
Slide 28: Executive Summary (1/2)
Executive Summary (1/2) Q3 FY21 gross revenue at INR 1,160 Cr versus INR 1,094 Cr in Q3 FY20 (+6% YoY) and INR 932 Cr in Q2 FY21 (+24% QoQ) Operating EBITDA1 for Q3 FY21 was highest ever at INR 253 Cr versus INR 160 Cr in Q3 FY20 (+58% YoY); INR 143 Cr in Q2 FY21 (+76% QoQ) EBITDA margin2 for the qu
Slide 29: Executive Summary (2/2)
Executive Summary (2/2) Clinical update: Treated ~21,000 Covid-19 patients at hospitals and ~2,000 patients at home/extended care facilities as of January 31, 2021 ~3.2L RT-PCR tests done as of January 31, 2021 Successfully treated India’s first case of Lung Decortication of a COVID-19 recovered pat
Slide 30: Key Financial Highlights
Key Financial Highlights Gross Revenue (INR Cr) Operating EBITDA1 (INR Cr) +24.4% 1,160 253 1,094 +6.0% 932 +76.5% +57.9% 160 143 Q3 FY20 Q2 FY21 Q3 FY21 Q3 FY20 Q2 FY21 Q3 FY21 Margin2 (%) Q3 FY20 : 15.8% | Q2 FY21 : 16.2% | Q3 FY21 : 23.2% Operating EBITDA per bed3 (INR Lacs) ROCE4 24.6% 40.7 27.1
Slide 31: Specialty Profile
Specialty Profile Q3 FY20 Q3 FY21 Others Others 6.6% Oncology* Pulmonology 9.5% Oncology* Pulmonology 18.1% OBGY and 3.1% 20.9% 11.9% pediatrics 7.0% OBGY and pediatrics 4.0% MAS and Cardiac general surgery 5.3% MAS and Gross IP revenue 10.3% sciences Gross IP revenue general surgery 3.9% INR 944 Cr
Slide 32: Payor Profile
Payor Profile Q3 FY20 Q3 FY21 22.0% 22.2% 39.4% 41.8% 4.2% 11.1% 24.9% 34.4% Self pay TPA & corporates International Institutional Note: Excludes revenue from SBUs and other operating income 10
Slide 33: P&L Statement
P&L Statement Figs in INR Cr Q3 FY20 Q2 FY21 Q3 FY21 Particulars Actual % NR Actual % NR Actual % NR Gross revenue 1,094 932 1,160 Net revenue 1,014 100.0% 881 100.0% 1,086 100.0% Direct costs 428 42.3% 363 41.2% 448 41.2% Contribution 585 57.7% 518 58.8% 638 58.8% Indirect overheads 425 41.9% 375 4
Slide 34: Key Operational Highlights
Key Operational Highlights ARPOB1 (INR/OBD) (‘000) Avg. Inpatient Occupancy (%) 50.8 51.2 76.2% +3.8 %pt 46.4 72.4% 67.8% +0.9% +10.3% +8.4 %pt Q3 FY20 Q2 FY21 Q3 FY21 Q3 FY20 Q2 FY21 Q3 FY21 ALOS2 (in days) Outpatient consults (‘000) 5.4 5.4 585 4.3 +1.1 days -33.5% 389 348 +11.7% Q3 FY20 Q2 FY21 Q
Slide 35: Clinical Update
Clinical Update Successfully treated India’s first case of Lung Decortication of a COVID-19 recovered patient India’s first Esophagus Y tracheal stent and a “stent on stent” - double stenting / double Y stenting done in a 77 year old male k/c/o squamous cell carcinoma Successfully performed cadaveri
Slide 36: Research and Academics Update
Research and Academics Update National and international publications 85 publications across units for Q3 FY21 Top high index and high impact factor being from Oncology, Nephrology and Urology departments One Article on Covid-19 as a preprint on convalescent plasma 12 publications on Covid-19 NABH a
Slide 37: 9M ended Dec'20 Highlights
9M ended Dec’20 Highlights 15
Slide 38: Key Financial Highlights
Key Financial Highlights Gross Revenue (INR Cr) Operating EBITDA1 (INR Cr) 3,272 433 2,702 -17.4% 373 -13.9% 9M ended Dec’19 9M ended Dec’20 9M ended Dec’19 9M ended Dec’20 Margin2 (%) 9M ended Dec’19 : 14.4% | 9M ended Dec’20 : 14.7% Operating EBITDA per bed3 (INR Lacs) 24.2 24.5 +1.1% 9M ended Dec
Slide 39: Specialty Profile
Specialty Profile 9M ended 9M ended Dec’19 Dec’20 Others Others Pulmonology 9.5% Oncology* 7.0% Oncology* Pulmonology 3.5% 21.0% 20.0% OBGY and 10.5% pediatrics 7.0% OBGY and pediatrics 4.5% MAS and MAS and general surgery 5.4% Gross IP revenue general surgery 3.8% Gross IP revenue 10.0% Cardiac INR
Slide 40: Payor Profile
Payor Profile 9M ended 9M ended Dec’19 Dec’20 21.9% 23.0% 41.4% 41.4% 3.0% 11.2% 32.6% 25.4% Self pay TPA & corporates International Institutional Note: Excludes revenue from SBUs and other operating income 18
Slide 41: P&L Statement
P&L Statement Figs in INR Cr 9M ended Dec’19 9M ended Dec’20 Particulars Actual % NR Actual % NR Gross revenue 3,272 2,702 Net revenue 3,018 100.0% 2,540 100.0% Direct costs 1,285 42.6% 1,073 42.2% Contribution 1,733 57.4% 1,467 57.8% Indirect overheads 1,300 43.1% 1,094 43.1% Operating EBITDA (post
Slide 42: Key Operational Highlights
Key Operational Highlights ARPOB1 (INR/OBD) (‘000) Avg. Inpatient Occupancy (%) 50.0 48.5 73.4% 63.3% -3.0% -10.1 %pt 9M ended Dec’19 9M ended Dec’20 9M ended Dec’19 9M ended Dec’20 ALOS2 (in days) Outpatient consults (‘000) 5.4 1,857 4.3 -50.0% +1.1 days 929 9M ended Dec’19 9M ended Dec’20 9M ended
Slide 43: Covid-19 Update
By MAX Healthcare Covid-19 Update
Slide 44: Covid-19 Update (1/2)
Covid-19 Update (1/2) Key contributions* : Our response : First private hospital to offer a dedicated facility in Delhi for Covid-19 care One of the first private sector lab to start Covid-19 testing Infrastructure support First of its kind convalescent plasma therapy trial for critically ill patien
Slide 45: Covid-19 Update (2/2)
Covid-19 Update (2/2) Occupancy rate dropped sharply towards Occupancy (%) the end of March to 30-35%. 72 73 72 73 76 76 71 76 70 72 76 77 79 79 71 61 59 61 66 Sharp recovery since then. September witnessed 43 return to pre Covid-19 occupancy with November 33 being an all time high Feb-20 Dec’20 occ
Slide 46: About the Company
By MAX Healthcare About the Company
Slide 47: Max Healthcare: India's Second Largest Hospital Chain
Max Healthcare: India’s Second Largest* Hospital Chain Max Healthcare and Radiant merged their healthcare businesses to create the second largest healthcare chain in India by revenue NCR 280 Shalimar Bagh 16 ~3,400 ~85% 538 402 378 Facilities Bed capacity Beds in metros BLK Patparganj Vaishali Lajpa
Slide 48: 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 49: State-of-the-Art Infrastructure
State-of-the-Art Infrastructure Robotics TrueBeam Stx LINAC System Cath Lab – Artis Zee Pure Advanced robotics provides high precision Provides a variety of treatment Artis zee floor-mounted system with and enables minimal invasive surgery techniques such as HyperArc and a large detector offers exce
Slide 50: Strong Focus on Research and Academics
Strong Focus on Research and Academics Research: Academics: Significant strategic partnerships including Deakin University, Max Institute of Medical Excellence (MIME) is the education division Australia and Imperial College London – 15,000+ research of MHC for medical education & training participan
Slide 51: Awards and Accolades
Awards and Accolades Operational Clinical Safety Service Quality Others Excellence CNBC TV-18 Award Best use of six sigma Best customer service ET Best Healthcare for best multi-specialty in Healthcare in Healthcare brand hospital in metro HIMSS-Elsevier Digital Patient Safety Award’ Healthcare Awar
Slide 52: Network Structure
Network Structure Balaji Society (Max Patparganj) Max Shalimar Bagh Valid till 2065 Max Dehradun Medical Service Agreement with Max Panchsheel Society Immigration centre MHIL Devki Devi Society Max Saket (West) (Max Saket East, SBUs (MaxLab, Onco day care center) Max@Home) Valid till 2064 100.0% 100
Slide 53: List of Network Healthcare Facilities
List of Network Healthcare Facilities 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 Dr. B L Kapur Memorial Hospital Delhi Hospital D
Slide 54: About Us
About Us Max Healthcare Institute Limited (MHIL) is India’s leading provider of healthcare services. For further information, It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education. please contact: For more information, visit MHIL h
Max Healthcare Institute — Q3 FY2021 Earnings Presentation on 6ix