Max India Ltd · NSE:MAXIND
Max India — 9M FY2023 Earnings Presentation
23 slides from Max India's earnings presentation, Feb 2, 2023
Slide 1: Regulation 30 cover letter to stock exchanges
February 2, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (East) Mumbai – 400 021 Mumbai – 400 051 Scrip Code: 543223 Scrip Code: MAXIND Dear Sir/Madam, Sub: Corporate Announcement filed under Regulation
Slide 2: Investor Release February 2, 2023
Investor Release February 2, 2023
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Max India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Max India: Key Highlights (Q3 & 9MFY23)
Max India : Key Highlights (Q3 & 9MFY23) Consolidated Revenue Consolidated EBITDA Balance Sheet (Dec 22) Max India 9MFY23 Q3FY23 9MFY23 Q3FY23 Treasury Networth Rs 153 Cr 6%^ Rs 46 Cr 8% Rs 6.5 Cr 7X^ Rs 0.1 Cr Rs 450 Cr+ Rs 540 Cr [Rs 145 Cr] [Rs 43 Cr] [Rs 0.8 Cr] [Rs (0.7)Cr] [Rs 540 Cr] [Rs 638
Slide 5: Residences for Seniors
Residences for Seniors
Slide 6: 1st Community - Antara Dehradun – 96% of units sold as of Dec'22 end
1st Community - Antara Dehradun – 96% of units sold as of Dec’22 end, repaid all debt, continues to be cash and PBT positive 14 Acres 5,75,500 1,400-6,600 Land Parcel of the Average Apartment company's flagship Saleable area Size range in Sq Ft project in sq ft 60,000 1.3 pm1 ~Rs 14,7001 Clubhouse s
Slide 7: 2nd Community - Antara Noida Phase 1: 98% of units sold as of Dec'22 end
2nd Community - Antara Noida Phase 1: 98% of units sold as of Dec’22 end 340 7,45,000 2,000 Saleable area Average Apartment Available Units in sq ft Size in Sq Ft 64:361 7.0 pm1 Rs 9,0001 Channel Mix (%) Sales Realisation Sales Velocity Cumulative sales and collection trend Direct: Partners Per Sq.f
Slide 8: Antara Noida (Under Construction): targeting to achieve planned IRRs
Antara Noida (Under Construction): targeting to achieve planned IRRs in spite of cost headwinds through robust sales velocity, price increase and timely delivery Project Cost for Phase - Payment plan 1&2 (including Land) Antara Fee (S&M, PM) (break-up basis units sold) 983 Rs. ~10% 10:90 Payment Pla
Slide 9: Foundation to Nineteenth floor completed in R1, R2 & R3 respectively
Foundation to Nineteenth floor completed in R1, R2 & R3 respectively 20 19 20 13 20 18 19 11 17 12 19 18 4 10 16 17 11 18 13 15 13 16 10 9 17 12 3 14 13 11 14 13 12 15 9 8 16 13 2 14 87 15 11 10 12 12 10 9 12 11 13 14 11 9 7 6 13 8 10 11 1 10 8 12 6 97 10 9 11 5 12 7 86 9 G 86 10 5 4 11 7 8 7 9 10 5
Slide 10: Growth Initiatives: Progressing on partnerships for Gurugram; Bengaluru and Pune
Growth Initiatives : Progressing on partnerships for Gurugram; In advance discussions for Bengaluru and Pune Areas Update Next steps • Received IGBC GREEN HOMES RATING GOLD Pre-certification • RERA application post Noida approval Noida Phase II • Application for revised building plans submitted with
Slide 11: Care Homes/ Memory Care Homes
Care Homes/ Memory Care Homes
Slide 12: 3 new Care Homes launched in Delhi NCR, capacity increased by 60+ beds
3 new Care Homes launched in Delhi NCR, capacity increased by 60+ beds to ~150+ beds in H1FY23 Delhi Greater Kailash II 32 rooms (38 beds) Dwarka Suite Room Sunken Engagement 14 rooms (14 beds) Court Jasola Vihar 10 rooms (10 beds) Gurugram Nurse Lounge Area Station DLF Phase II 26 rooms (32 beds) S
Slide 13: Care Home: Net revenue at Rs 2 Cr in Q3FY23, grew 100% y-o-y
Care Home (CH): Net revenue at Rs 2 Cr in Q3FY23, grew 100% y-o-y, led by bed addition and improvement in occupancy Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 129% 100% YoY YoY 240 4000 3686 210 200.0 3137 3200 180 169 2414 150 132.2 2400 2001 123.3 120 99.9 1533 1600 90 6
Slide 14: Gurugram CH Proof of success established; Contribution margin improved to ~12%
Gurugram CH Proof of success established; Contribution margin improved to ~ 12% in Q3FY23 ahead of business plan assumptions Net Revenue (Rs Lacs) Key learnings so far 100 94.5 89.8 • Per day pricing in the range of 90 82.6 INR 4000-5000 per day 80 76.4 • 16 patients staying in the 70 60.6 centre as
Slide 15: Care at Home
Care at Home 14
Slide 16: Care at Home – Net revenue at Rs 1.72 Cr, growth of 35% y-o-y
Care at Home – Net revenue at Rs 1.72 Cr, growth of 35% y-o-y and Contribution margin improved to 14% in Q3FY23 Transaction* (Nos) Care at Homes Revenue^ (Rs Lacs) -4% 300.0 4000 YoY 35% 250.0 YoY 3200 200.0 2400 150.0 163.7 172.3 1600 3300 3100 100.0 128.0 125.4 2800 2700 119.2 2500 800 50.0 0 0.0
Slide 17: MedCare
MedCare 16
Slide 18: MedCare: Net revenue at Rs 0.8 Cr, grew 18% y-o-y
MedCare: Net revenue at Rs 0.8 Cr, grew 18% y-o-y and Contribution margin improved to 3% in Q3FY23 Antara branded wheelchair launched, senior specific MedCare Revenue (Rs Lacs) features incorporated in design, now available on Amazon, Flipkart & Tata 1MG, sold ~60 units Nylon upholstery 18% Easy cle
Slide 19: Consolidated Financials
Consolidated Financials Consolidated Financials 18
Slide 20: Well capitalised to aggressively pursue growth with ~Rs 450 crores of assets
Well capitalised to aggressively pursue growth opportunities with ~ Rs 450 crores of assets Senior living – Residences for Seniors Assisted Care Services – Other Assets^ (Rs 394 Cr) Invested Capital (Rs 387 Cr) Invested Capital (Rs 60 Cr) Antara 1.0 – Dehradun (Asset Heavy) Cash & cash equivalents^
Slide 21: Consolidated Revenue at Rs 153 Cr in 9MFY23, Up 6% y-o-y
Consolidated Revenue at Rs 153 Cr in 9MFY23, Up 6%^ y-o-y (Q3 Up 8% y-o-y) Consolidated EBITDA at Rs 6.5 Cr in 9MFY23, Up 7x y-o-y Particulars (Rs. Crs.) Q3 FY23 Q3 FY22 Y-o-Y 9M FY23 9M FY22 Y-o-Y Total Income 46.2 42.8 8% 153.3 144.5 6% Total Expenses 46.1 43.6 146.8 143.7 EBITDA 0.1 (0.7) 6.5 0.8
Slide 22: Balance Sheet: Strong BS position with Net worth of Rs 540 Cr
Balance Sheet: Strong BS position with Net worth of Rs 540 Cr Particulars (Rs in Crs.) 31-Dec-22 31-Mar-22 Particulars (Rs in Crs.) 31-Dec-22 31-Mar-22 Non-Current Assets 290.8 304.9 Equity 539.8 637.1 Non-Current Liabilities 58.1 63.7 Current Assets 477.4 549.1 Current liabilities 170.3 153.2 Total
Slide 23: Contact US
Contact US Company Investor Relations Advisors Max India Limited Strategic Growth Advisors Pvt. Ltd. CIN: L74999MH2019PLC320039 CIN: U74140MH2010PTC204285 Mr. Ajay Agrawal/ Mr. Nishant Kumar Mr. Rahul Agarwal / Mr. Aakash Mehta ajay.agrawal@antaraseniorcare.com rahul.agarwal@sgapl.net / nkumar@maxin