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Earnings Call

Max India Earnings Call: Key Takeaways

Max India (Antara) is scaling its integrated senior care ecosystem across residences, care homes, and specialized products. FY26 saw significant revenue growth in assisted care services and expanded bed capacity.

Highlights
MarginsAGEasy Gross Margin improved from 26% in FY25 to 32% in FY26.
Order bookUnits sold: 100% in Dehradun, Noida, and E360 Gurugram.
Demand visibilitySenior population (60+) expected to double by 2050; USD 30Bn opportunity.

Growth

Care Homes revenue reached INR 38.8 Cr in FY26 vs INR 25.7 Cr in FY25. Net revenue grew 1.6x YoY in Q4FY26.

Outlook

Ongoing expansion in Gurugram and Noida; targeting project IRRs of 15-20% and 20-25% EBITDA margins on maintenance income.

Risks

High concentration in NCR; cultural stigma and limited awareness regarding professional elder care persist in India.

Last quarter's promises, checked

Delivered

  • Guided 485 beds capacity → delivered 485 beds (= BEAT)
  • Guided 1.04 Mn sq ft locked in → delivered 1.04 Mn sq ft (= BEAT)
  • Guided 1.5 Mn sq ft commitment → delivered 1.5 Mn sq ft (= BEAT)

Partly delivered

  • Guided AGEasy breakeven Q4FY27 → ongoing scaling (= PARTIAL)
Source

Earnings Call filed with BSE, NSE: MAXIND. Summary written with AI assistance from the document.

Read the document ↗

Max India Ltd: key numbers

Share price
₹148.45
Market cap
₹836.1 Cr
Revenue (annual)
₹190.6 Cr
Net profit (annual)
₹-121.8 Cr
P/E (TTM)
-6.3×Sector 23.2×
Promoter holding
48.33%-1.49% QoQ
FII holding
6.81%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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15:37 IST BSE
Earnings Call

Max India Earnings Call Transcript: Key Takeaways

Max India delivered a 66% YoY revenue jump to ₹68.6 Cr, yet remains loss-making with a ₹25 Cr EBITDA deficit, masked by optimistic real estate execution narratives.

Call
Guides 100% growth