Max India Ltd · NSE:MAXIND
Max India — Investor Presentation (June 2022)
50 slides from Max India's investor presentation, Jun 5, 2022
Slide 1: Max India Limited Investor Presentation June 2022
Max India Limited Investor Presentation June 2022 ANTARA O 6mAxl INDIA LIMITED A Max Group Company
Slide 2: 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 3: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 4: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 5: Max group, a leading conglomerate with history of spotting early trends
Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses mAx LIFE • Entered Life insurance space in early 2000, in collaboration with one of the America’s largest Life Insurer, New York Life • 4th Largest Private Life Insurer with an
Slide 6: Max group’s current areas of business - life insurance, senior care and real estate
Max group’s current areas of business - life insurance, senior care and real estate 1 2 3 4 Revenues: USD 4.2 billion Diversified business model; Steady revenue growth & cost Strong history of entrepreneurship Customers: 4.8 million Well established board governance; rationalization leads to strong
Slide 7: Max group structure overview
Max group structure overview Holding Companies Operating Companies Life Insurance 14.7% ( L) 461k A FINANCIAL 81.8%1 6 LIFE INSURANCE SERVICES V. Senior Care 40.9% 100% • ,, Care at Home • 4* Care Homes 100% ** Residences ANIARA N.IedC:aue Products AN TA RA for seniors MAX INDIA LIMITED 49.6% Real E
Slide 8: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 9: Our latest bet is on the emerging senior care space in India
Our latest bet is on the emerging senior care space in India which is already a $ 10-12bn market and growing exponentially Fastest growing Increasingly Healthcare is largest age segment in living alone share of their India wallets, with multiple unmet needs 130 mn senior 17% of elderly are 3-4X spen
Slide 10: Competitive intensity: Antara has identified four focus areas
Of all the value pools, Antara has identified four focus areas comprising ~60 % of the opportunity High Senior care Products and Senior care value pools medical devices (except core healthcare), USD billion 0.5 1.6 Annual revenue Potential Independent Living (USD bn) Safety services Competitive inte
Slide 11: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 12: Financial strength and unique competencies being leveraged in senior care
Financial strength and unique competencies being leveraged to make a foray into the senior care space 01. 02. 03. Only listed player exclusively in Uniquely placed with our Only player providing an the Senior Care space background in healthcare, integrated Senior care infrastructure, hospitality eco
Slide 13: Antara’s integrated senior care ecosystem through four verticals
Antara’s focus is on creating an integrated senior care ecosystem through four verticals • 2 Care Homes #SeniorCarestartswithAntara 0 • 3 Care Pei t at Home Specialised residential Comprehensive medical care facilities for short & long term and assistance for seniors, care, pre & post-operative deli
Slide 14: Residences for seniors – fast emerging category with demand-supply mismatch
1. Residences for seniors – fast emerging category with sizeable demand-supply mismatch 2 Senior Living Housing Unit Demand Upto 5K • 5K-10K Expected demand1 for senior’s residences in India is expected to be 12x of the current supply 10K-15K • 15K-20K 111- 1 Evolving needs of seniors, strong prefer
Slide 15: Care Homes – nascent in India, large and profitable globally
2. Care Homes – While nascent in India, it is a large and profitable market globally Potential users Market Size Use cases Description # in ‘000 USD million Emerging competition ▪ 60+ years with dementia (stage 2+) 1 Long stay Memory care ▪ ▪ >15 L income segment Social stigma not relevant • 120 • 6
Slide 16: Care at Home - fastest growing segment within healthcare
3. Care at Home - Home healthcare amongst the fastest growing segment within healthcare Care is shifting home … …and big bets are being made by players • Increasing cost of in-hospital treatment °BEST Best Buy has quietly grown a home healthcare BUY- business: 4 things to know • 70% healthcare needs
Slide 17: Medical equipment (MedCare) - huge opportunity in patient aids
4. Medical equipment (MedCare) - Huge underlying opportunity in patient aids segment Medical devices segment market size Medical devices segment market size Instruments & appliances • Category includes Mobility products, Physio products, Respiratory products, Orthotics etc. Diagnostic • Expected gro
Slide 18: Antara aspires to take its offerings pan-India in 3-5 years
Antara aspires to take its offerings pan-India in the next 3-5 years Antara plans to invest over Rs. 300 crore in the next four to five years across all business verticals and has sufficient liquidity to finance this growth. Company has outlined a five-year vision for Antara following its initial su
Slide 19: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 20: Residences for Seniors
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Slide 21: Early trend identified in 2010, aspiration to create 5-7 communities
Early trend identified in 2010, aspiration to create 5-7 communities across India r 2010 2011-12 r 2013-16 2017-18 2019-20 r 2021-present • Extensive market • Antara Senior • Antara brand • Best in class • 63% of • 91% of research, Living launched Dehradun apartments sold apartments have benchmarkin
Slide 22: 1st Community - Antara Dehradun – 91% sales achieved
1st Community - Antara Dehradun – 91% sales achieved as of Q4FY22, prepaid entire project external debt and turned Cash & PBT positive in FY22 I: 14 Acres 5,75,500 L, f-A 1,400-6,600 • Land Parcel of the company's flagship Average Apartment Saleable area Size range in Sq Ft project in sq ft r a A' I
Slide 23: Learnings from Dehradun being leveraged to pivot business model
Learnings from Dehradun being leveraged to pivot business model to overcome friction to purchase From To Focus on core competencies, Design, Sell, Operate, Buy, Build, Sell, Operate Strategic partnerships for land and construction Business Model Capex light Average apartment size ~3000 sqft Average
Slide 24: 2nd Community - Antara Noida Phase 1: 73% sales achieved
2nd Community - Antara Noida Phase 1: 73% sales achieved as of Q4FY22 340 7,45,000 2,000 Saleable area Average Apartment 0 N Available Units ap, in sq ft Size in Sq Ft 1? +if d4i it at 51:49 12.0 pm1 Rs 7,8001 Channel Mix (%) Sales Realisation Sales Velocity Cumulative sales and collection trend Dir
Slide 25: Antara Noida: targeting healthy IRRs through sales velocity and cost control
Antara Noida (Under Construction): targeting healthy IRRs through robust sales velocity, cost control and timely delivery Project Cost for Phase - Payment plan 1&2 (including Land) Antara Fee (S&M, PM) (break-up basis units sold) 865 Rs. ~10% • 10:90 Payment Plan • Construction Linked Payment Plan C
Slide 26: Future projects to focus on Design, Sales & Marketing and Operations
For future projects, Antara shall focus only on our core strengths of Design, Sales & Marketing and Operations Land 25-40% Design and architecture 5-8% Construction 35-50% Sales & Mktg 5-7% Operations NA Activities acquisition with benchmark costs (as a % Project management 10-12% IRR 20-25% of proj
Slide 27: Growth Initiatives: Max Estates partnership for Gurgaon; options beyond Delhi NCR
Growth Initiatives: Progressing well on Max Estates Limited (MEL) partnership for Gurgaon; exploring suitable growth options beyond Delhi NCR Areas Update Next steps • Partnership with Max Estates on DM model, with minority stake • Business plan finalization Gurgaon on Dwarka Expressway finalized, d
Slide 28: Care Homes/ Memory Care Homes
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Slide 29: Care homes/memory care homes: an integrated and seamless ecosystem
Care homes/memory care homes: an integrated and seamless ecosystem that provides care, comfort and companionship to seniors Offer support to seniors with ambulatory, neurological, ageing related conditions and those who need assistance in daily activities Several care options to choose from includin
Slide 30: Four care homes launched in Delhi NCR with ~90 beds
Four care homes launched in Delhi NCR since inception with ~90 beds r 7 -1, , • ' 2777---- 14110. 0.1111 **4i(i'• 7 - 1 GK II: Operator Model in Gurgaon and Gurgaon: 32 rooms with 38 beds Jasola: 26 rooms with 32 beds (single/ twin occupancy suites) (single/ twin occupancy suites) 8 rooms dedicated
Slide 31: Care homes/memory care homes – encouraging trends and outlook
Care homes/memory care homes – encouraging trends and outlook Increase in market Increasing interest Show and tell, inspires Unit economics Unmatched interest and curiosity from competition confidence stacks up comprehensive offering • Consistent increase in • Increasing interest in • ~65-70% conver
Slide 32: Care Home: Net revenue at Rs 4.4 Cr, grew 4.9x y-o-y
Care Home (CH): Net revenue at Rs 4.4 Cr, grew 4.9x y-o-y, Q4 revenue up 123% y-o-y led by improvement in occupancy, Gurugram CH achieved break-even in Q4 Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 2.6x 2.2x YoY YoY 150 2400 2001 123.3 2000 120 110.7 104.7 1533 99.9 1600 1
Slide 33: Care at Home
Care at Home • -
Slide 34: Care at home: delivery of healthcare services in the comfort of home
Care at home: Delivery of Healthcare services in the comfort of a home like environment Every aspect of our service reflects the guiding principles behind our endeavors to nurture Convenience, Clinical Quality & Trust Convenience Clinical Quality Trust ▪ Superior health care ▪ Care plan curated by ▪
Slide 35: Care at home: service offerings second to none
Care at home: service offerings second to none PHYSIOTHERAPY AND HOME CRITICAL CARE HOME DIAGNOSTICS REHABILITATION FOR CONTINUITY OF CARE ' 0 • ".1 /2 St - 4 4 . NURSING CARE PATIENT CAREGIVER OTHER SERVICES AT HOME • 7 14 ti I • I \ T \R \ 35 6mAx INDIA LIMITED
Slide 36: Launched India’s first health check-up on wheels
Launched India’s first of its kind health check-up on wheels • • No hassle of travelling 0 De Blood Test 98114 41111 1st time in India encuilAl C Treadmill Test (TMT) at Senior-friendly tA) S ;sernrCareTitswithAn Doctor Consult Trained and certified staff • Bone Mineral Density a (BMD) Clinical comp
Slide 37: Care at home – Net revenue at Rs 8.8 Cr, grew 3.4x y-o-y
Care at home – Net revenue at Rs 8.8 Cr, grew 3.4x y-o-y; Contribution margin improved to 20% in FY22 from 12% in FY21 Revenues from Care at Home segment increased sharply during Q1FY22 driven by higher contribution from COVID services Transaction (Nos) Care at Homes Revenue (Rs Lacs) 600 6000 5600
Slide 38: MedCare
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Slide 39: MedCare: synergistic to existing business lines
MedCare : synergistic to existing business lines • 1 Augments the seniors’ ecosystem – Residences, Care Homes, Care at Home and Medcare products • 2 Opportunity to create a truly retail Antara brand –allowing for future brand extensions • 3 Synergistic to existing business lines – Care Homes & Care
Slide 40: MedCare: Net revenue at Rs 3.2 Cr, grew 4.2x y-o-y
MedCare: Net revenue at Rs 3.2 Cr, grew 4.2x y-o-y MedCare Revenue (Rs Lacs) 200 171.5 ro MedCare 160 ANTARA Products p.mnc,c, -14% 120 YoY A Portfolio of over 1,100 Products 80 65.4 47.3 47.8 Pricing: Transparent/ fair pricing (Antara Retail Price) 40.7 40 21.6 Better product quality/ features/ pac
Slide 41: Executive Summary
Executive Summary • Max group, a leading conglomerate has a history of spotting early trends, creating iconic brands and successful businesses: ― Max Life Insurance (2000), Max Healthcare (2004), Max Bupa Health Insurance (2008) - all leading brands in their respective sectors ― Partnered with best-
Slide 42: Consolidated Financials
Consolidated Financials Consolidated Financials A•aamiumill •% 4 42
Slide 43: Well capitalised with ~Rs 570 crores of assets
Well capitalised to aggressively pursue growth opportunities with ~ Rs 570 crores of assets olv EDO t 604c40 0 14. 0 Residences for seniors 0 C * 640 Care Homes Care at Home A N TARA ANTARA MedCare Products Senior living – Residences for Seniors Assisted Care Services – Other Assets^ (Rs 509 Cr) Inv
Slide 44: Consolidated Revenue grows 83% to Rs 237 Cr in FY22
Consolidated Revenue grows 83% to Rs 237 Cr in FY22 and EBITDA loss reduced to Rs 0.7 Cr in CY from Rs 29 Cr in PY, primarily due to higher sales collection and lower finance cost in Doon Particulars (Rs. Crs.) Q4 FY22 Q4 FY21 Y-o-Y FY22 FY21 Y-o-Y Total Income 51.5 35.8 44% 237.4 129.6 83% Total Ex
Slide 45: Balance Sheet: Strong BS position with Net worth of Rs 637 Cr
Balance Sheet: Strong BS position with Net worth of Rs 637 Cr Particulars (Rs in Crs.) 31-Mar-22 31-Mar-21 Particulars (Rs in Crs.) 31-Mar-22 31-Mar-21 Non-Current Assets 304.9 209.5 Equity 637.1 653.2 Non-Current Liabilities 63.8 118.5 Current Assets 549.2 788.1 Current liabilities 153.2 225.9 Tota
Slide 46: Annexure
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Slide 47: Max India: Board of directors & leadership team
Max India: Highly experienced and versatile board of directors & leadership team Board of Directors Mr. Analjit Mr. Mohit Dr. Ajit Singh Singh Mrs. Tara Talwar Chairman & Singh Vachani Mr. Rajit Mehta Non Executive Independent Founder Vice Chairperson Managing Director Director Director Mr. Ashok Ka
Slide 48: Antara: Eminent Board to guide the Management team
Antara : Eminent Board to guide the Management team Board of Directors Mr. Analjit Singh P Mrs. Tara Singh Mr. Rajit Mehta Vachani Executive Chairperson Managing Director & Chairman Emeritus Chief Executive Officer 4 Dr. Shubnum Singh Mr. Pradeep Dr. Ajit Singh Mrs. Sharmila Pant Tagore Independent
Slide 49: Antara Senior Care team
Antara Senior Care team Mrs. Tara Singh Vachani Vice Chairperson • Mr. Rajit Mehta Antara Senior Living team Managing Director & Chief Executive Officer • Mr. Ajay Agrawal Senior Director & Mr. Sandeep Pathak Mr. Kenneth Sannoo Legal Counsel & Senior Director Chief Financial Officer Company Secretar
Slide 50: Contact us
Contact us Company Investor Relations Advisors INDIA NMX 'NOW, I LIMITED SGA Strategic Growth Advisors Max India Limited Strategic Growth Advisors Pvt. Ltd. CIN: L74999MH2019PLC320039 CIN: U74140MH2010PTC204285 Mr. Ajay Agrawal/ Mr. Nishant Kumar Mr. Vijay Goel / Mr. Aakash Mehta ajay.agrawal@antara