Max India Ltd · NSE:MAXIND
Max India — Q4 FY24 Earnings Presentation
30 slides from Max India's earnings presentation, May 24, 2024
Slide 1: Investor Release – Q4 FY24 cover letter to exchanges
May 24, 2024 Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400051 Scrip Code: 543223 Name of Scrip: MAXIND Sub: Investor Release – Q4 FY24
Slide 2: Investor Release May 24, 2024
Investor Release May 24, 2024
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: Significant Progress Across Business Verticals
SIGNIFICANT PROGRESS ACROSS BUSINESS VERTICALS
Slide 5: Residences: Gurugram, Bengaluru and FY24 progress
Residences : Collection ahead of plans; Doon continues to be cash surplus; Growth on track.. Gurugram community launch expected in Q2FY25; Bengaluru community launch expected in Q4 FY25 FY24 GURUGRam Bengaluru • 100% inventory sold for Doon and Noida • Pre-launch activities • Approval activities • D
Slide 6: Assisted care: FY24 highlights and growth plans
Assisted care: Care at Home and MedCare registered highest ever revenue in FY24; AGEasy achieved ARR of Rs 6 Cr with six months of launch; 600 beds to be operational for Care homes by FY25 year end FY24 Care HOMES CARE AT HOME AGEASY/ MEDCARE • Care Home: Revenue Bed Additions planned • Expanding fo
Slide 7: Business and Financial Performance Update
BUSINESS AND FINANCIAL PERFORMANCE UPDATE
Slide 8: Strong endorsement for our brand and offerings by customers, employees and partners
Strong endorsement for our brand and offerings by customers, employees and partners Strong endorsement for our brand Antara Senior Care has been certified as great and offerings by customers workplace by Great Place to Work • Residences (Doon): SAT index at 90% (Q3FY24 88%) • Care Homes: SAT Index a
Slide 9: Financial Performance: Results better than expected across all business verticals in FY24
Financial Performance: Results better than expected across all business verticals in FY24; Focus now on growth and scale-up in FY25 ▪ Consolidated revenue of Rs 195 Cr for FY24, 9% lower than last year, due to lesser inventory available for Consolidated sale in Residences vertical in FY24 as compare
Slide 10: Residences for Seniors
Residences for Seniors
Slide 11: 1st Community - Antara Dehradun – All units sold
1st Community - Antara Dehradun – All units sold, continues to be cash and PBT positive, Cash surplus ~Rs 125+ Cr as of Mar’24 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 Rs 125 Cr ~Rs 19,0001 Clubhou
Slide 12: 2nd Community - Antara Noida Phase 1: All units sold
2nd Community - Antara Noida Phase 1: All units sold, collection efficiency ~ 99% 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 Channel Mix (%) Sales Realisation ~ 99% Cumulative sales and collection trend Direct: P
Slide 13: Antara Noida: targeting 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 14: Noida Phase I – Internal plaster & hard flooring completed
Noida Phase I – Internal plaster & Hard flooring completed for all 3 towers Jan 24 Jan’24 May’24 13
Slide 15: Noida Phase I – Finishing works on track
Noida Phase I – Finishing works on track ito IR 11 14 LMAXI INDIA LIMITED
Slide 16: Care Homes/ Memory Care Homes
Care Homes/ Memory Care Homes
Slide 17: Care Home: Net revenue at Rs 1.4 Cr in Q4FY24
Care Home (CH): Net revenue at Rs 1.4 Cr in Q4FY24, Up 4%* y-o-y Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 5%* 4%* YoY YoY 3000 240 210 2202 135.1 2250 2492 180 2284 2320 140.9 2184 150 129.2 130.4 146 1500 120 90 750 60 30 463 22.9 0 6 62 0 0.2 3.3 Q4FY23 Q1FY24 Q2FY24 Q
Slide 18: Gurugram CH unit economics established
Gurugram CH unit economics established, Contribution margins steadily improving from 0% to ~16% in eight quarters Net Revenue (Rs Lacs) Key learnings so far 120 110.7 • Per day pricing in the range of 97.9 98.3 INR 5500-6300 per day 100 94.5 89.8 82.6 82 85.8 • 20 patients staying in the 80 76.4 cen
Slide 19: Gearing up for launch of Care Homes in new geographies
Gearing up for the launch of Care Homes in new geographies; Bannerghata CH launched for show arounds Bannerghata Road, Bengaluru Sector 66, Noida Sector 24, Gurgaon • Total capacity:53 beds • Total capacity:98 beds • Total Capacity: 83 beds • Finishing work underway • Sprucing work underway • Infra
Slide 20: Care at Home
Care at Home 19
Slide 21: Care at Home – Highest ever net revenue in Q4
Care at Home – Highest ever net revenue ~ Rs 3 Cr in Q4, growth of 97% y-o-y; Contribution margin at 9% (NCR margin 19%) in Q4FY24 marginally lower than 11% in Q4FY23, impacted by expansion to new geographies Patient served (Nos) Care at Homes Revenue^ (Rs Lacs) 144% 3000 400 97% YoY YoY 2826 2400 3
Slide 22: MedCare
MedCare 21
Slide 23: MedCare: Highest ever net revenue in Q4
MedCare: Highest ever net revenue ~ Rs 2.7 Cr in Q4, grew 106% y-o-y MedCare Revenue (Rs Lacs) 106% Contribution margin at -5% in Q4FY24 (-5% in Q4FY23) YoY 300 274.2 Outlook 225 209.2 150 175.0 ❖ Deepen/ build new distribution channels to augment reach 133.3 119.2 75 ❖ Expand product portfolio 0 ❖
Slide 24: AGEasy
AGEasy HEALTH STUDIO DELHI | BENGALURU | GURUGRAM
Slide 25: AGEasy: Revenue Rs 1.4 Cr in Q4FY24
AGEasy: Revenue Rs 1.4 Cr in Q4FY24, Up 53% sequentially q-o-q, good performance on marketplace for braces and pain relief products Key highlights AGEasy Revenue (Rs Lacs) • 3 conditions launched Arthritis/Pain (83%); Fall (14%) & Hearing (3%) • 26K+ customers served; ARR of INR 6 Cr within 6 months
Slide 26: Consolidated Financials
Consolidated Financials Consolidated Financials 25
Slide 27: Well capitalised with Rs 435+ crores of Treasury and other monetisable assets
Well capitalised to pursue growth opportunities with Rs 435+ crores of Treasury (including surplus in subsidiaries) and other monetisable assets Senior living – Residences for Seniors Assisted Care Services – Other Assets^ (Rs 250 Cr) Invested Capital (Rs 438 Cr) Invested Capital (Rs 169 Cr) Antara
Slide 28: Consolidated: Revenue at Rs 195 Cr in FY24, EBITDA loss at Rs 34 Cr
Consolidated: Revenue at Rs 195 Cr in FY24, down 9% y-o-y and EBITDA loss at Rs 34 Cr in FY24 vs gain of Rs 12 Cr in FY23 Particulars (Rs Cr) Q4FY24 Q3FY24 % Q4FY23 % FY24 FY23 % Total Income 49.6 44.5 11% 60.2 -18% 194.7 213.5 -9% Total Expenses 65.7 57.3 55.0 229.0 201.8 EBITDA (16.1) (12.8) 5.2 (
Slide 29: Balance Sheet: Strong BS position with Net worth of Rs 492 Crores
Balance Sheet: Strong BS position with Net worth of Rs 492 Crores Particulars (Rs in Crs.) 31-Mar-24 31-Mar-23 Particulars (Rs in Crs.) 31-Mar-24 31-Mar-23 Equity 492.3 542.1 Non-Current Assets 341.1 294.3 Non-Current Liabilities 53.2 49.8 Current Assets 343.2 459.1 Current liabilities 138.8 161.5 T
Slide 30: 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