ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Max India's annualized net income for the quarter that ended in Mar. 2026 was ₹-772 Mil. Max India's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₹4,083 Mil. Therefore, Max India's annualized ROE % for the quarter that ended in Mar. 2026 was -18.90%.
The historical rank and industry rank for Max India's ROE % or its related term are showing as below:
NSE:MAXIND'
s ROE % Range Over the Past 10 Years
Min: -32.99 Med: -7.42 Max: -1.75
Current: -29.62
During the past 10 years, Max India's highest ROE % was -1.75%. The lowest was -32.99%. And the median was -7.42%.
NSE:MAXIND's ROE % is ranked worse than 84.8% of 625
companies
in the Healthcare Providers & Services industry
Industry Median: 5.84
vs NSE:MAXIND: -29.62
Max India (NSE:MAXIND) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Max India ROE % Related Terms
Max India ROE % Historical Data
* Premium members only.
The historical data trend for Max India's ROE % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Care Facilities subindustry, Max India's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Max India ROE % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Max India's ROE % distribution charts can be found below:
* The bar in red indicates where Max India's ROE % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Max India (NSE:MAXIND) has a ROE % of -18.90% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Max India and its competitors. According to the industry distribution chart, Max India ranks #530 out of 625 companies in the Healthcare Providers & Services industry, placing it in the top 84.8%.
Is Max India's ROE % too high?
Max India's current ROE % is -18.90%. Based on the distribution chart, Max India ranks #530 out of 625 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Max India has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Max India's ROE % compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Max India ranks #530 out of 625 companies for ROE %. This places Max India in the lower half of its industry. The industry median ROE % is 5.84. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Healthcare Providers & Services company?
The median ROE % among Healthcare Providers & Services companies is 5.84, based on 625 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Max India and its competitors. For the Healthcare Providers & Services industry, the median ROE % is 5.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Max India's current ROE % is -18.90%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Max India stock overvalued right now?
Based on GuruFocus' analysis, Max India (NSE:MAXIND) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹205.35, compared to a current price of ₹159.04 — trading 22.6% below its estimated fair value. The current ROE % is -18.90%. Max India's overall GF Score™ is 66/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Max India (NSE:MAXIND), the current ROE % is -18.90% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Max India (NSE:MAXIND) Overvalued in 2026?
Based on GuruFocus' analysis, Max India stock appears to be undervalued.
The current stock price of ₹159.04 is trading 22.6% below its estimated GF Value™ of ₹205.35.
GuruFocus considers Max India to be Modestly Undervalued.
Key valuation signals for NSE:MAXIND:
ROE %: -18.90%
GF Value™: ₹205.35 vs. price of ₹159.04 (22.6% below fair value)
No single metric tells the full story. See the NSE:MAXIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Max India Ltd is a multi-business corporate that operates in the healthcare sector. The company provides healthcare services. Also, the company provides health insurance policies, senior-living communities, and other health-related training services. The business operates in four segments namely, Business Investments, Senior Living, Assisted Care, and Other. It derives maximum revenue from Senior Living segment.
66GF Score
Get the complete analysis for NSE:MAXIND
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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