Q4 2025 Max Healthcare Institute Ltd Earnings Call Transcript
Key Points
- Max Healthcare Institute Ltd (BOM:543220) reported a strong year-on-year growth of 26% in revenue and 22% in EBITDA for FY25.
- The company successfully acquired the 500-bed Jaypee Hospital in Delhi NCR, enhancing its asset-light expansion strategy.
- Newly operationalized asset-light hospital in Dwarka achieved EBITDA breakeven in six months, setting a new record.
- Max Lucknow demonstrated impressive growth with a 56% increase in revenue and 102% growth in EBITDA.
- The company is on track to add approximately 1,500 beds through brownfield and greenfield expansions by the end of the year.
- International patient revenue faced challenges due to geopolitical unrest in regions like Bangladesh and Yemen.
- The newly acquired Max Noida is still being integrated and reported a lower occupancy rate of 50%.
- The Dwarka hospital, despite achieving breakeven, reported an EBITDA loss of INR29 crore for the entire year FY25.
- Interest costs have increased due to recent borrowings for acquisitions, impacting net debt levels.
- The company faces potential competition in the Gurugram region with new hospitals being developed by peers.
Ladies and gentlemen, good morning, and welcome to the Max Healthcare Institute Limited earnings conference call. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Suraj from CDR India for opening remarks. Thank you, and over to you.
Thank you, Ryan. Good morning, everyone, and thank you for joining us on Max Healthcare's Q4 and 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 Mr. 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 begin, I would like to point out that some statements made in today's call may be forward-looking in nature and a disclaimer to this effect has been included in the earnings presentation shared with you earlier.
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