Max India Ltd · NSE:MAXIND
Max India — Q2 FY25 Earnings Presentation
30 slides from Max India's earnings presentation, Oct 24, 2024
Slide 1: Investor Release – Q2 FY25 cover letter to exchanges
October 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 – Q2
Slide 2: Investor Release October 24, 2024
Investor Release October 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: Steady progress and traction across all business verticals
STEADY PROGRESS AND TRACTION ACROSS ALL BUSINESS VERTICALS
Slide 5: Key Performance highlights of Q2FY25
Key Performance highlights of Q2FY25 Assets : Residences Services: Assisted Care Products: AGEasy Gurugram: Launched by MEGL* in Care Homes: 300+ bed capacity AGEasy performance (Q2) Aug 24. Two towers dedicated to (234 beds added in H1FY25 out of senior living managed by Antara. • Revenue Rs 6.6 Cr
Slide 6: Business and Financial Performance Update
BUSINESS AND FINANCIAL PERFORMANCE UPDATE
Slide 7: 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 has been certified as Great Place to Work and offerings by customers and received Business World HR Excellence Award • Residences (Doon): SAT index at 88% (Q1FY25 85%) • Care H
Slide 8: Financial Performance: Revenue and EBITDA improved across all business verticals in Q2FY25
Financial Performance: Revenue and EBITDA improved across all business verticals in Q2FY25 compared to Q1FY25; Focus now on scale-up in H2FY25 ▪ Consolidated revenue of Rs 48 Cr for Q2FY25 vs Rs 32 Cr in Q1FY25, 48% better than last quarter, due to higher DM fees Consolidated revenues from Gurugram
Slide 9: Residences for Seniors
Residences for Seniors
Slide 10: Antara Dehradun – All units sold in Mar'24, cash and PBT positive
Antara Dehradun – All units sold in Mar’24, continues to be cash and PBT positive, Cash surplus Rs 115 Cr as of Sep’24 14 Acres 5,75,500 1,400-6,600 Land Parcel of the Saleable area Average Apartment company's flagship in sq ft Size range in Sq Ft project 60,000 Rs 115 Cr 88% Clubhouse size Cash Sur
Slide 11: Antara Noida Phase 1: All units sold in Mar'23, collection efficiency ~98%
Antara Noida Phase 1: All units sold in Mar’23, collection efficiency ~ 98% 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 ~ 98% Cumulative sales and collection trend Direct: Partner
Slide 12: Antara Noida: Cost headwinds being mitigated; Phase 2 approval delay
Antara Noida (Under Construction): Cost headwinds being mitigated through sales velocity, price increase and timely delivery; headwinds for Phase 2 approval continues leading to delay in launch resulting in IRR dip of 1% Project Cost for Phase - 1&2 (including Land) Antara Fee (S&M, PM) Noida Phase
Slide 13: Antara Noida Phase I – Finishing work moving as per plan
Antara Noida Phase I – Finishing work moving as per plan with all construction linked payment milestones delivered Structural work MEP work Finishing work 12
Slide 14: Gurugram - Intergenerational Community launched by MEGL in Aug'24
Gurugram - Intergenerational Community launched by Max Estates Gurgaon Limited (MEGL) in Aug’24; Senior living towers to be managed by Antara; 75% booking secured within 60 days of launch Launch Buzz Customer Retention & CP Collaboration Full-jacket print ads in prominent Activities; 50+ LPs newspap
Slide 15: Gurugram - 214 units of Senior Living sold till Sep'24
Gurugram - 214 units of Senior Living sold till Sep’24, with sales collection ~ Rs 107 Cr 292 ~7,63,500 ~ 2,600 Saleable area Average Apartment Available Units in sq ft Size in Sq Ft Collection 26:74 ~Rs 21,0001 efficiency Channel Mix (%) Sales Realisation ~ 95% Direct: Partners Per Sq.ft Project 21
Slide 16: Care Homes/ Memory Care Homes
Care Homes/ Memory Care Homes
Slide 17: Care Home: Net revenue at Rs 1.7 Cr in Q2FY25, Up 29% y-o-y
Care Home (CH): Net revenue at Rs 1.7 Cr in Q2FY25, Up 29%* y-o-y; Contribution margin at 2%^ in Q2FY25 from -15%^ in Q2FY24 Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 15%* 29%* YoY YoY 3000 240 210 2561 2633 2250 2492 180 2284 2320 167.9 146 153.9 140.9 150 130.4 1500 120
Slide 18: Gurugram CH unit economics established; Net revenue Rs 1.2 Cr in Q2FY25
Gurugram CH unit economics established; Net revenue at Rs 1.2 Cr in Q2FY25, Up 37% y-o-y; Contribution margins maintained at 18% in Q2FY25 Net Revenue (Rs Lacs) Key learnings so far 140 131.3 • Average revenue per occupied bed 117.5 improved from 6,100 to 6,400 120 110.7 97.9 98.3 • 17 patients stay
Slide 19: Care Homes: Bed capacity increased to 300+ beds
Care Homes : Bed capacity increased to 300+ beds (234 beds added out of which 161 beds operational); On plan for ~600 beds by Q4 FY25 Geography Existing Capacity (Oct’24) Planned Capacity in H2FY25 ▪ DLF Gurgaon - 32 beds ▪ Memory Care Homes – 36 beds Delhi-NCR ▪ Noida - 53 beds ▪ Sector 24, Gurugra
Slide 20: Care at Home
Care at Home 19
Slide 21: Care at Home – Highest ever net revenue ~Rs 4.3 Cr in Q2FY25
Care at Home – Highest ever net revenue ~ Rs 4.3 Cr in Q2FY25, growth of 109% y-o-y; NCR Contribution margin at 22% in Q2FY25 Patient served (Nos) Care at Homes Revenue^ (Rs Lacs) 66% 3000 YoY 109% YoY 2826 2811 2859 480 2400 400 432.6 2276 375.6 1800 320 1714 302.9 240 1200 249.8 160 207.4 600 80 0
Slide 22: 21
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Slide 23: AGEasy: Highest ever revenue Rs 6.6 Cr in Q2FY25
AGEasy^: Highest ever revenue Rs 6.6 Cr in Q2FY25, 255% y-o-y; Month-on month increase in revenues for Q2FY25; Achieved annual revenue run rate of Rs 25 Cr • Achieved an annual revenue trajectory of INR 25Cr+ (Incl. Medcare products) Key highlights AGEasy^ Revenue (Rs Lacs) • Product portfolio expan
Slide 24: Customer reviews and ratings for AGEasy products
Customers review and rating for AGEasy products Top 3 products based on Top 3 products based on reviews and ratings on Amazon reviews and ratings on D2C • Bunion Corrector (Rating 4.88) 82,711Total • AGEasy Joint Care Vitamin D3 + K2 (Rating 4.86) • Ossur back brace 13542 D2C Lives touched 169169 Am
Slide 25: What are Customers saying about AGEasy
What are Customers saying about AGEasy NPS Customer success stories Apr’24 - 22nd Oct’24 “One of our customer suffering from severe osteoarthritis and unable to undergo surgery, sought guidance from our CC team. April May June July Aug Sept Oct They connected her with Dr. Arti, our expert, who recom
Slide 26: Consolidated Financials
Consolidated Financials Consolidated Financials 25
Slide 27: Consolidated Financial Performance (Q2FY25)
Consolidated Financial Performance (Q2FY25): Revenue at Rs 48 Cr grew 48% sequentially q-o-q over Q1FY25; EBITDA loss reduced to Rs 16 Cr in Q2FY25 vs Rs 22 Cr in Q1FY25 Particulars (Rs Cr) Q2FY25 Q1FY25 QoQ(%) Q2FY24 YoY(%) H1FY25 H1FY24 YoY(%) Total Income 47.5 32.1 48% 55.1 -14% 79.6 100.6 -21% T
Slide 28: Balance Sheet: Consolidated Net worth of Rs 445 Crores as of Sep'24
Balance Sheet: Consolidated Net worth of Rs 445 Crores as of Sep’24 Particulars (Rs in Crs.) 30-Sep-24 31-Mar-24 Particulars (Rs in Crs.) 30-Sep-24 31-Mar-24 Equity 444.8 492.3 Non-Current Assets 359.5 341.1 Non-Current Liabilities 67.3 53.2 Current Assets 298.6 343.2 Current liabilities 146.0 138.8
Slide 29: Well funded to pursue growth with Rs 370+ crores of treasury and monetisable assets
Well funded to pursue growth opportunities over next 12 months with Rs 370+ crores of Treasury and other monetisable assets; fund raising discussions initiated for future growth Senior living – Residences for Seniors Assisted Care Services – Other Assets^ (Rs 195 Cr) Invested Capital (Rs 441 Cr) Inv
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