Q1 2025 Max Healthcare Institute Ltd Earnings Call Transcript
Key Points
- Operationalized Max Super Specialty Hospital, Dwarka, a 303-bed facility with advanced technology.
- Announced a build-to-suit transaction for a 250-bed hospital in Mohali, aligning with the asset-light strategy.
- Strong performance from recently acquired Lucknow and Nagpur hospitals, contributing significantly to revenue and EBITDA.
- 15th consecutive quarter of year-on-year growth, with network gross revenues at INR2,028 crore, up 18% year on year.
- Max@Home and Max Lab reported strong growth, with revenues increasing by 23% and 21% year on year, respectively.
- Network operating EBITDA saw a marginal decline of 1% quarter on quarter, impacted by prelaunch costs at Max Dwarka.
- Profit after tax showed a slight decrease compared to the previous quarter, standing at INR295 crore.
- Temporary impact on international patient revenue due to political situations and credit risk management actions.
- Operating EBITDA margin declined to 26.5%, affected by annual merit increases, GST on variable management fees, and reduced footfall for immigration health checks.
- Free cash flow from operations was partially offset by significant investments in ongoing capacity expansion projects.
Ladies and gentlemen, good day, and welcome to Max Healthcare Institute Limited earnings conference call. (Operator Instructions) Please note that this conference has been recorded. I now hand the conference over to Mr. Suraj Digawalekar from CDR India. Thank you and over to you, sir.
Thank you, Neeraj. Good morning, everyone, and thank you for joining us on Max Healthcare's Q1 FY25 earnings conference call. We have with us Mr. Abhay Soi, Chairman and Managing Director; Mr. Yogesh Sareen, Senior Director and Chief Financial Officer; and Keshav Gupta, Senior Director Growth, M&A and Business Planning.
We will begin the call with opening remarks from the management, following which, we will have the forum open for an interactive Q&A session. Before we start, I would like to point out that some statements made in today's call may be forward look in nature and a disclaimer to this effect has been included in the presentation shared with you earlier. I would now like to invite Abhay to make the
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