Max India Ltd · NSE:MAXIND
Max India — Investor Presentation (February 2022)
47 slides from Max India's investor presentation, Feb 2, 2022
Slide 1: Max India Limited Investor Presentation
Max India Limited Investor Presentation February 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 billion Diversified business model; Steady revenue growth & cost Strong history of entrepreneurship Customers: 4.6 million Well established board governance; rationalization leads to strong an
Slide 7: Max group structure overview
Max group structure overview Holding Companies Operating Companies Life Insurance 14.7% 81.8%1 MAX (..; 11rm MAXISFEINRAVNICEISAL 11 II INSURANCE 111 Senior Care tA Care Homes (i)) • "14 /1 40.9% 100% Care at Home 100% g1 4 / 01) Residences for seniors LmAxl AN1A RA MedCare Products ANTARA INDIA LIM
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 for 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 focus is on creating an integrated senior care ecosystem
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: 1. Residences for seniors – sizeable 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: 2. 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: 3. 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: 4. Medical equipment (MedCare) - opportunity in patient aids segment
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 the next 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 • 86% of research, Living launched Dehradun apartments sold apartments have benchmarkin
Slide 22: 1st Community - Antara Dehradun – 86% sales achieved
1st Community - Antara Dehradun – 86% sales achieved as of Q3FY22 ri • er4 4 14 Acres 5,75,500 1,400-6,600 • • .A1 1 r•T" • r..r . ,• 4- Land Parcel of the Average Apartment company's flagship Saleable area Size range in Sq Ft project in sq ft 1111 I 1 60,000 4.0 pm1 Rs 13,0001 II 1 ai . 1' 4!". • 7
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: 63% sales achieved
2nd Community - Antara Noida Phase 1: 63% sales achieved as of Q3FY22 340 7,45,000 2,000 Saleable area Average Apartment Available Units in sq ft Size in Sq Ft 45:55 5.67 pm1 Rs 8,0001 Channel Mix (%) Sales Realisation Sales Velocity Cumulative sales and collection trend Direct: Partners Per Sq.ft C
Slide 25: Antara Noida: targeting healthy IRRs
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) Rs. 865 ~10% • 10:90 Payment Plan • Construction Linked Payment Plan C
Slide 26: Care Homes/ Memory Care Homes
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Slide 27: 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 28: Three care homes/memory care homes launched in the last 15 months
Three care homes/memory care homes launched in the last 15 months O I A. a4 31, rids ,. -my dC4 I- I GK II: 32 rooms Gurgaon: 26 rooms with single/ twin occupancy, Dehradun: 8 rooms with with single/ twin occupancy, suites suites – 8 rooms dedicated for single occupancy Memory Care 28 6mAx \elk. IND
Slide 29: 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 • ~60% conversio
Slide 30: Care homes: Q3FY22 revenues increased yoy
Care homes/memory care homes: Q3FY22 revenues increased by 256% yoy led by significant improvement in occupancy ratio Occupancy trend at Care Homes (bed days) Care Homes Revenue (Rs Lacs) 4.4x 3.6x YoY YoY 120 110.7 2000 104.7 99.9 1521 1533 1600 90 1322 1200 60 55.2 777 800 28.1 400 177 350 30 6.5
Slide 31: Care at Home
Care at Home • -
Slide 32: 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 33: 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 \ 33 6mAx INDIA LIMITED
Slide 34: 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 35: Care at homes – Q3FY22 revenues increased by 27% yoy
Care at homes – Q3FY22 revenues increased by 27% yoy led by better realisations 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 500 457.2 5000 27% 400 YoY 4000 2900 30
Slide 36: MedCare
C 4.. I. -• MedCare r • 1114111—. " L e
Slide 37: 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 38: MedCare: Q3FY22 revenues increased by 203% yoy
MedCare: Q3FY22 revenues increased by 203% yoy MedCare Revenue (Rs Lacs) 200 171.5 ro MedCare 160 ANTARA Products p.mnc,c, 203% 120 YoY A Portfolio of over 1K Products 80 65.4 47.3 47.8 Pricing: Transparent/ fair pricing (Antara Retail Price) 40 21.6 Better product quality/ features/ packaging 6.8 0
Slide 39: 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 40: Consolidated Financials
Consolidated Financials Consolidated Financials A•aamiumill •% 4 40
Slide 41: Well capitalised with ~Rs 550 crores of assets
Well capitalised to aggressively pursue growth opportunities with ~ Rs 550 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 478 Cr) Inv
Slide 42: Revenue grows 98%, EBITDA turns positive in 9MFY22
Revenue grows 98% to Rs 186 Cr, and EBITDA turns positive to Rs 1.4 Cr in 9MFY22 vs loss of Rs 22.5 Cr in PY, primarily due to higher sales collection and lower finance cost in Doon Particulars (Rs. Crs.) Q3 FY22 Q3 FY21 Y-o-Y 9M FY22 9M FY21 Y-o-Y Total Income 42.8 34.2 25% 186.0 93.8 98% Total Exp
Slide 43: Annexure
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Slide 44: Max India: Board of directors & leadership team
Max India: Highly experienced and versatile board of directors & leadership team Board of Directors ft Mr. Analjit Singh Chairman & Founder r ,e Mrs. Tara Singh Vachani Vice Chairperson Mr. Rajit Mehta Managing Director • • - Mr. Mohit Talwar Non Executive Director I Mr. Ashok Mrs. Bhawna Mr. Niten
Slide 45: 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 Dr. Shubnum Singh Mr. Pradeep Mrs. Sharmila Pant Tagore Independent Independent Direc
Slide 46: Antara Senior Care team
Antara Senior Care team Mrs. Tara Singh Vachani Vice Chairperson Mr. Rajit Mehta Antara Senior Living team Antara Assisted Care Services team Managing Director & Chief Executive Officer Mr. Ajay Agrawal Mr. Sandeep • toMr. Kenneth Mr. Sanjay 4 Mr. Vaibhav Poddar Chief Executive Officer Pathak Sannoo
Slide 47: 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. Vijay Goel / Mr. Aakash Mehta ajay.agrawal@antaraseniorcare.com vija