Max India Ltd · NSE:MAXIND
Max India — Q2 FY23 Earnings Presentation
23 slides from Max India's earnings presentation, Nov 11, 2022
Slide 1: Max India Limited Investor Release
Max India Limited Investor Release 11 November 2022
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: Max India: Key Highlights (Q2 & H1FY23)
Max India : Key Highlights (Q2 & H1FY23) Consolidated Revenue Consolidated EBITDA Treasury & Other - H1FY23/ Q2FY23 - H1FY23/ Q2FY23 monetizable assets - Sep 22 Max India Rs 107 Cr / Rs 61 Cr 5%/ 39%^ Rs 6.4 Cr/ Rs 5.2 Cr 4.3x/ 6%^ Rs 450 Cr+^^ [Rs 102 Cr / Rs 44 Cr^] [Rs 1.5 Cr/ Rs 4.9 Cr^] [Rs 550
Slide 4: Residences for Seniors
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Slide 5: 1st Community - Antara Dehradun – 94% of units sold as of Sep'22
1st Community - Antara Dehradun – 94% of units sold as of Sep’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 0.7 pm1 ~Rs 13,0001 Clubhouse s
Slide 6: 2nd Community - Antara Noida Phase 1: 92% of units sold as of Sep'22
2nd Community - Antara Noida Phase 1: 92% of units sold as of Sep’22 end 340 7,45,000 2,000 Saleable area Average Apartment Available Units in sq ft Size in Sq Ft 42:581 11.7 pm1 Rs 8,7001 Channel Mix (%) Sales Realisation Sales Velocity Cumulative sales and collection trend Direct: Partners Per Sq.
Slide 7: Antara Noida (Under Construction): targeting planned IRRs despite cost headwinds
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 8: Foundation to Thirteenth, Fourteenth & twelfth floor in R1, R2 & R3 respectively
Foundation to Thirteenth, Fourteenth & twelfth floor in R1, R2 & R3 respectively 12 11 11 4 10 10 13 13 9 12 3 14 12 9 11 8 13 13 11 10 2 12 8 7 12 10 9 11 7 11 9 6 108 1 10 8 6 97 9 5 7 8 G 8 5 6 4 6 7 5 7 5 4 6 3 64 S 4 5 5 3 3 2 3 42 4 2 2 1 31 3 1 1 2 G 2 G 1 G 1 G G G As on 03-11-2022 As on 03-
Slide 9: Growth Initiatives: Progressing as planned on partnerships
Growth Initiatives : Progressing as planned on partnerships for Gurugram and Bengaluru; Scouting for better opportunity at Pune; Earlier launch of Noida Phase – II, likely to close two opportunities by Mar’23 Areas Update Next steps • Received IGBC GREEN HOMES RATING GOLD Pre-certification • Applica
Slide 10: Care Homes/ Memory Care Homes
Care Homes/ Memory Care Homes
Slide 11: 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, plan to reach 225 beds by FY23 end 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 Stati
Slide 12: One of its kind Memory Care Home, South City, Gurugram, launched in Sep'22
One of its kind Memory Care Home, South City, Gurugram, launched in Sep’22 12
Slide 13: Care Home: Net revenue at Rs 1.7 Cr in Q2FY23, grew 53% y-o-y
Care Home (CH): Net revenue at Rs 1.7 Cr in Q2FY23, grew 53% y-o-y, led by bed addition and improvement in occupancy Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 106% 53% YoY YoY 3600 210 3137 3200 180 169.0 2800 2414 150 132.2 2400 123.3 2001 110.7 2000 120 99.9 1521 1533 1
Slide 14: Gurugram CH Proof of success established; Contribution margin improved to ~8%
Gurugram CH Proof of success established; Contribution margin improved to ~ 8% in Q2FY23 ahead of business plan assumptions Net Revenue (Rs Lacs) Key learnings so far 100 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 on Se
Slide 15: Care at Home
Care at Home
Slide 16: Care at Home – Net revenue at Rs 1.64 Cr, sequential growth of 37%
Care at Home – Net revenue at Rs 1.64 Cr, sequential growth of 37% q-o-q over Q1FY23 and Contribution margin improved to 14% in Q2FY23 Transaction (Nos) Care at Homes Revenue (Rs Lacs) 4500 300.0 4000 24% QoQ 250.0 37% 3500 QoQ 3000 200.0 2500 150.0 164.0 163.7 2000 1500 3000 3300 3100 128.0 125.4 2
Slide 17: MedCare
MedCare
Slide 18: MedCare: Net revenue at Rs 0.7 Cr, grew 36% y-o-y
MedCare: Net revenue at Rs 0.7 Cr, grew 36% y-o-y and Contribution margin improved to 3% in Q2FY23 First Antara branded wheelchair launched, senior specific features incorporated in design, now available on Amazon MedCare Revenue (Rs Lacs) Nylon upholstery 90 36% Easy clean material YoY Wide Seat Co
Slide 19: Consolidated Financials
Consolidated Financials Consolidated Financials 19
Slide 20: Well capitalised to pursue growth opportunities 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 55 Cr) Antara 1.0 – Dehradun (Asset Heavy) Care at Home (Home Care)
Slide 21: Consolidated Revenue at Rs 107 Cr in H1FY23, Up 5% y-o-y
Consolidated Revenue at Rs 107 Cr in H1FY23, Up 5%^ y-o-y (Q2 Up 39% y-o-y). Consolidated EBITDA at Rs 6 Cr in H1FY23, Up 4.3x y-o-y Particulars (Rs. Crs.) Q2 FY23 Q2 FY22 Y-o-Y H1 FY23 H1 FY22 Y-o-Y Total Income 61.0 43.9 39% 107.1 101.6 5% Total Expenses 55.8 39.0 100.7 100.1 EBITDA 5.2 4.9 6% 6.4
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.) 30-Sep-22 31-Mar-22 Particulars (Rs in Crs.) 30-Sep-22 31-Mar-22 Non-Current Assets 301.4 304.9 Equity 539.7 637.1 Non-Current Liabilities 62.0 63.7 Current Assets 469.2 549.1 Current liabilities 168.9 153.2 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