Max Healthcare Institute has announced plans for expansion and reported robust financial results for the first quarter. The company's board of directors approved several key decisions during their meeting on August 13.

New Hospital in Dehradun

Max Healthcare Institute has approved an agreement to lease with Goyal Agrim Infra Realty LLP for setting up a new 130-bed hospital in Dehradun, Uttarakhand. This built-to-suit facility will be located near the company's existing 220-bed hospital, which has been operational since 2012. The new hospital is expected to be commissioned by 2028 and will primarily focus on providing advanced oncology services, including radiation therapy.

The expansion comes as a response to the high demand for quality healthcare services in Dehradun. Max Healthcare's existing hospital in the city has reported over 80% occupancy in Q1, highlighting the need for additional tertiary care beds in the region.

Financial Performance

For the quarter ended June 30, Max Healthcare reported impressive financial results:

The company's revenue from operations grew by 31.4% year-over-year to ₹2,027.57 crore. EBITDA increased by 35.1% to ₹523.00 crore, with the EBITDA margin improving to 25.79% from 25.11% in the same quarter last year. Consolidated net profit rose by 30.3% to ₹307.97 crore.

Other Developments

Merger Progress

The company is proceeding with the merger of its wholly-owned subsidiaries, Crosslay Remedies Limited (CRL) and Jaypee Healthcare Limited (JHL). The National Company Law Tribunal (NCLT) has directed the issuance of notices to authorities under Section 230(5) of the Companies Act, 2013.

Land Acquisition

CRL has acquired a land parcel of approximately 4,000 sq. meters adjacent to its current hospital premises in Ghaziabad, Uttar Pradesh, for ₹120.00 crore. This acquisition will allow for the addition of about 150 beds at Max Super Specialty Hospital, Vaishali, over the next 30 months.

Divestment

JHL's board has approved the divestment of hospitals located in Bulandshahr district, Uttar Pradesh, aligning with the company's strategy to focus on super specialty hospitals in larger cities.

ESOP Allotment

During the quarter, Max Healthcare Institute allotted 4,790 ordinary shares under its Employee Stock Option Schemes.

Max Healthcare's expansion plans and strong financial performance demonstrate its commitment to growth and improving healthcare accessibility in India. The new hospital in Dehradun and the expansion of existing facilities are expected to further strengthen the company's position in the healthcare sector.

Max Healthcare Institute Ltd., a leading healthcare provider in India, witnessed significant market activity as a substantial block trade took place on the National Stock Exchange (NSE). The transaction, valued at Rs. 50.66 crores, involved approximately 403,231 shares changing hands at a price of Rs. 1256.30 per share.

Block Trade Details

The block trade, which typically involves a large number of securities traded at an arranged price between two parties, suggests notable investor interest in Max Healthcare Institute. Such transactions are often indicative of institutional activity or large stakeholder movements.

Upcoming Financial Results

In related news, Max Healthcare has announced its schedule for the upcoming financial results and investor interactions:

• The company's Board of Directors is set to meet on Wednesday, August 13, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30.
• Following the results announcement, Max Healthcare will host an earnings call for investors and analysts on Thursday, August 14, at 12:30 PM IST.

Earnings Call Information

The Q1 earnings call will provide an opportunity for stakeholders to gain insights into the company's performance and future outlook. Key details of the call include:

• Date and Time: Thursday, August 14, at 12:30 PM IST
• Purpose: Discussion of Q1 results and interactive Q&A session
• Participants: Senior Management team of Max Healthcare

Investors and analysts interested in participating can access the call through various dial-in numbers provided by the company, including toll-free options for Hong Kong, Singapore, UK, and USA.

Company Overview

Max Healthcare Institute Limited operates a network of 22 healthcare facilities with over 5,100 beds, primarily concentrated in North India. The company's portfolio includes tertiary and quaternary care hospitals across Delhi NCR, Lucknow, Mumbai, Nagpur, Mohali, Bathinda, and Dehradun. Additionally, Max Healthcare offers homecare services under Max@Home and diagnostic services through Max Labs.

As Max Healthcare continues to expand its presence in the Indian healthcare sector, market activities such as the recent block trade and the upcoming financial results announcement are likely to be of interest to investors and industry observers alike.