Max India Ltd · NSE:MAXIND
Max India — Q2 FY24 Earnings Presentation
28 slides from Max India's earnings presentation, Oct 26, 2023
Slide 1: Max India Limited – Investor Release Q2 FY24 cover letter
INDIA 'raw MAX ILIMITED October 26, 2023 To, Listing Department, Department of Corporate Services, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra-Kurla Complex Bandra (E), Mumbai — 400 001 Mumbai — 400051
Slide 2: Investor Release October 26, 2023
Investor Release October 26, 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: Residences update: Doon and Noida sold out; Gurgaon, Bengaluru, Hyderabad progress
Residences update : Doon and Noida sold out; Documentation in final stages for Bengaluru & Gurugram; Commercials finalized for Hyderabad; Discussion ongoing for Other Geographies DOON GURGAON Only one unit left for sale – occupied by Definitive agreement in final stages Inhouse doctor Massing and de
Slide 5: Assisted care update: Care homes, Care at Home, MedCare, AGEasy
Assisted care update: 3 Care homes (~150-200 beds) in Bengaluru; Search initiated for ~100 beds in NCR and Chennai; AGEasy launched with 17 products across 2 chronic conditions Care homes MEDCARE • 800+ SKUs available including Antara labelled • 2 Care homes (68 beds) operational in Gurgaon products
Slide 6: Max India Key Highlights (Q2 & H1FY24)
Max India Key Highlights (Q2 & H1FY24) : Growth in all business verticals in Q2FY24 sequentially q-o-q over Q1, Q2FY24 Consolidated Revenue and EBITDA grew 21% and >100% over Q1FY24 Consolidated Revenue Consolidated EBITDA^ Treasury & Other Assets Consolidated Net worth Max India Q2FY24 H1FY24 Q2FY2
Slide 7: Residences for Seniors
Residences for Seniors
Slide 8: 1st Community - Antara Dehradun: all units sold
1st Community - Antara Dehradun – All units sold (except 1 occupied by employee) as of Sep’23 end, continues to be cash and PBT positive, Cash surplus ~Rs 125 Cr+ as of Sep’23 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 proj
Slide 9: 2nd Community - Antara Noida Phase 1: 100% of units sold
2nd Community - Antara Noida Phase 1: 100% of units sold as of Sep’23 end, collection efficiency ~ 96% 340 ~7,45,000 2,000 Saleable area Average Apartment Available Units in sq ft Size in Sq Ft Collection 40:60 ~Rs 10,4001 efficiency Cumulative sales and collection trend Channel Mix (%) Sales Realis
Slide 10: Antara Noida: targeting to achieve planned IRRs
Antara Noida (Under Construction): targeting to achieve planned IRRs; cost headwinds being mitigated through 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 Plan
Slide 11: Noida Phase I – Construction on track, top floor slab completed
Noida Phase I – Construction on track, Top floor slab completed for all residences Oct’23 Oct’23 10
Slide 12: Noida Phase I – External & Internal finishing work
Noida Phase I – External & Internal finishing work Lift Lobby Wall Tiling Option R2 External Paint Colour Shade Common Area Flooring 11
Slide 13: Care Homes / Memory Care Homes
Care Homes/ Memory Care Homes
Slide 14: Care Home: Net revenue at Rs 1.34 Cr in Q2FY24
Care Home (CH): Net revenue at Rs 1.34 Cr in Q2FY24, adjusted for inoperative Care Homes revenue grew 45% y-o-y Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 34% 45% YoY YoY 240 4000 1966 210 113.8 1710 3200 180 89.8 2454 150.7 2184 2284 150 129.2 130.4 2400 120 1600 90 60 80
Slide 15: Gurugram Care Home proof of success established
Gurugram CH Proof of success established, H1FY24 revenue and margins impacted due to lower occupancy, channel mix and one-off maintenance costs Net Revenue (Rs Lacs) Key learnings so far 120 • Per day pricing in the range of 97.9 INR 5000-6000 per day 100 94.5 89.8 82.6 82 85.8 • 19 patients staying
Slide 16: Care at Home
Care at Home 15
Slide 17: Care at Home – Highest ever net revenue in Q2
Care at Home – Highest ever net revenue ~ Rs 2.1 Cr in Q2, growth of 27% y-o-y; Contribution margin improved to 20% in Q2FY24 (14% in Q2FY23) Patient served (Nos) Care at Homes Revenue^ (Rs Lacs) 2000 19% YoY 300 27% 250 YoY 1500 1700 1429 1497 200 1401 207.4 1000 1159 150 172.3 170.3 163.7 153.8 10
Slide 18: MedCare
MedCare 17
Slide 19: MedCare: Highest ever net revenue in Q2
MedCare: Highest ever net revenue ~ Rs 1.75 Cr in Q2, grew 169% y-o-y, margins impacted by shift in channel mix from B2C to B2B MedCare Revenue (Rs Lacs) 169% Contribution margin at -2%^ in Q2FY24 (3% in Q2FY23) YoY ^ margins impacted due to higher contribution of B2B sales as comparted to B2C sales
Slide 20: AGEasy
AGEasy HEATH STUDIO DELHI | BENGALURU
Slide 21: AGEasy: Launched on Aug 21, 2023, live across all platforms
AGEasy : Launched on Aug 21, 2023, live across all platforms Website – Sep 4th Traffic – 4K visits/day 70 Orders Health Studio- Sep 4th 61 Expert Sessions completed # 12 Orders Amazon – Aug 21st ; WhatsApp - Sep 4th # 2500+ Orders 14 Expert Sessions completed # 10 Orders 20
Slide 22: AGEasy launched with products across categories along with physiotherapy services
AGEasy launched with 17 products across 4 categories along with physiotherapy services for knee pain and fall detection Knee pain / knee health solution Fall Detection Braces and supports Nutraceuticals Pain Relief Physiotherapy Fall Detection 1 Comfort Knit Knee Cap 9 Vitamin 13 Pain Relief Gel To
Slide 23: AGEasy: Amazon journey so far
AGEasy : Amazon journey so far 21st Aug till date 106 Average 87 daily Rev. run rate (INR k/day) 47 22 4 5 5 Aug 21st W1 W2 W3 W4 W5 W6 W7 Capitalizing on Getting basics in place Start accelerating Amazon GIF sales • Fixing account health • Scale up spends (0.4 L/day to • Proactive inventory plannin
Slide 24: Consolidated Financials
Consolidated Financials Consolidated Financials 23
Slide 25: Well capitalised to pursue growth with Rs 530+ crores of Treasury
Well capitalised to pursue growth opportunities with ~ Rs 530+ crores of Treasury (including surplus in subsidiaries) and other monetisable assets Senior living – Residences for Seniors Assisted Care Services – Other Assets^ (Rs 347 Cr) Invested Capital (Rs 397 Cr) Invested Capital (Rs 103 Cr) Antar
Slide 26: Consolidated Revenue at Rs 55 Cr in Q2FY24
Consolidated Revenue at Rs 55 Cr in Q2FY24, 21% sequential growth q-o-q over Q1FY24; Consolidated EBITDA at Rs 1.5 Cr in Q2FY24 vs loss of Rs 7 Cr in Q1FY24 Particulars (Rs. Crs.) Q2FY24 Q1FY24 Q-o-Q Q2FY23 Y-o-Y H1FY24 H1FY23 Y-o-Y Total Income 55.1 45.5 21% 61.0 -10% 100.6 107.1 -6% Total Expenses
Slide 27: Balance Sheet: Strong position with Net worth of Rs 529 Crores
Balance Sheet: Strong BS position with Net worth of Rs 529 Crores Particulars (Rs in Crs.) 30-Sep-23 31-Mar-23 Particulars (Rs in Crs.) 30-Sep-23 31-Mar-23 Non-Current Assets 256.8 294.3 Equity 529.3 542.1 Non-Current Liabilities 23.7 49.8 Current Assets 448.3 459.1 Current liabilities 160.1 161.5 T
Slide 28: 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