Max Healthcare Institute Ltd.

Financial

	Max Healthcare Inst	Apollo Hospital Ent.	Fortis Healthcare
Operational Metrics
Hospital Sector
Average Daily Revenue Per Occupied Bed	77100.0 Rs	63569.0 Rs	69722.22 Rs
Hospital Occupancy Rate	75.0 %	67.0 %	69.0 %
Average Length Of Stay	4.0 Days	3.3 Days	4.22 Days
Operational Beds	4654.0 .	8025.0 .	4750.0 .
Unclassified
Inpatient Procedures	29.9 Thousand	n/a	n/a
Day Care Procedures	18.0 Thous	n/a	n/a
Outpatient Consults	854.0 Thous	n/a	n/a
Financials
5 yr Average ROE	9.23 %	12.37 %	6.37 %
5yr average Equity Multiplier	1.48	2.85	1.7
5yr Average Asset Turnover Ratio	0.42	0.96	0.5
5yr Avg Net Profit Margin	13.79 %	4.46 %	7.0 %
Price to Book	12.92	12.86	7.28
P/E	112.67	73.03	83.79
5yr Avg Cash Conversion Cycle	-143.35 Days	-26.12 Days	-114.77 Days
Inventory Days	5.36 Days	12.83 Days	6.37 Days
Days Receivable	29.86 Days	45.47 Days	33.12 Days
Days Payable	185.68 Days	68.55 Days	173.02 Days
5yr Average Interest Coverage Ratio	11.19	3.39	6.06
5yr Avg ROCE	10.55 %	10.86 %	7.58 %
5yr Avg Operating Profit Margin	23.93 %	12.91 %	17.0 %
5 yr average Debt to Equity	0.15	0.61	0.17
5yr CAGR Net Profit	n/a	14.59 %	n/a
5yr Average Return on Assets	6.36 %	4.4 %	3.82 %
Shareholdings
Promoter Holding	23.74 %	29.34 %	31.17 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-26.9 %	0.01 %	0.0
Change in Mutual Fund Holding (3 Yrs)	-6.67 %	8.3 %	9.82 %

Business

	Max Healthcare Inst	Apollo Hospital Ent.	Fortis Healthcare
Product Wise Break-Up	Product Wise Break-Up Healthcare 92.5 Pharmaceutical 4.17 Income from construction service 0 Pharmacy Distribution 0 Retail Health & Diagnostics 0 Healthcare services 0 Out-Patient Services 0 In-Patient Services 0 Others 3.33	Product Wise Break-Up Healthcare 50.64 Income from construction service 0 In-Patient Services 0 Healthcare 0 Pharmaceutical 0 Out-Patient Services 0 Pharmacy 42.32 Clinics 7.02 Others 0.02	Product Wise Break-Up Healthcare services 0 Income from construction service 0 In-Patient Services 85.67 Healthcare 0 Pharmaceutical 0 Out-Patient Services 13.3 Pharmacy Distribution 0 Retail Health & Diagnostics 0 Others 1.03
Therapeutic Area Wise Break-Up - Domestic	Therapeutic Area Wise Break-Up - Domestic Oncology 25.7 Cardiac Science 11.3 Orthopaedics 10.0 Central Nervous System (CNS) 9.3 Renal 9.2 Internal Medicine 6.3 Pediatrics 5.5 MAS & Surgery 4.4 Pulmonology 4.3 Liver 3.8 Orthopedics 0 Neuro & Spine 0 Gastro 0 Gynecology 0 Cardiac 0 Others 10.2	-	Therapeutic Area Wise Break-Up - Domestic Oncology 15.5 Internal Medicine 0 Liver 0 Cardiac Science 17.3 Pediatrics 0 Gynecology 3.3 Pulmonology 2.9 Gastro Intestinal 5.0 MAS & Surgery 0 Cardiac Science 0 Orthopaedics 8.6 Orthopaedics 0 Renal 6.9 Central Nervous System (CNS) 8.8 Central Nervous System (CNS) 0 Others 31.7
Location Wise Break-Up	Location Wise Break-Up Delhi 57.41 Uttar Pradesh 20.26 Maharashtra 9.55 Punjab 6.22 Uttarakhand 3.63 Haryana 2.94 International 0 Domestic 0 India 0 Karnataka 0 Tamil Nadu 0 Andhra Pradesh & Telangana 0 Rest of the World 0 South India 0 East India 0 West India 0 North India 0	Location Wise Break-Up South India 0 Delhi 0 North India 0 Rest of the World 0 West India 0 Maharashtra 0 Tamil Nadu 0 Uttarakhand 0 Karnataka 0 Punjab 0 Uttar Pradesh 0 India 100.0 Domestic 0 Andhra Pradesh & Telangana 0 Haryana 0 International 0 East India 0	Location Wise Break-Up South India 31.0 Delhi 0 North India 31.0 Rest of the World 3.0 West India 21.0 Maharashtra 0 Tamil Nadu 0 Uttarakhand 0 Karnataka 0 Punjab 0 Uttar Pradesh 0 India 0 Domestic 0 Andhra Pradesh & Telangana 0 Haryana 0 International 0 East India 13.0 Others 1.0
Customer Segment	Customer Segment TPA & Corporates 37.1 Self Pay 33.2 Institutional 20.8 International 8.9 Sale of pharmaceutical products 0 Out-Patient 0 In-Patient 0 Wellness 0 Direct Clients 0 Hospitals 0 CC 0 Walk-in 0 Clinical Trial 0	Customer Segment Institutional 0 TPA & Corporates 0 Wellness 0 Out-Patient 11.95 Direct Clients 0 Walk-in 0 Clinical Trial 0 CC 0 International 0 Hospitals 0 In-Patient 45.56 Pharmaceutical 41.2 Self Pay 0 Others 1.29	Customer Segment Institutional 0 TPA & Corporates 0 Wellness 4.0 Out-Patient 0 Direct 25.0 Walk-in 21.0 Clinical Trial 0 CC 17.0 International 4.0 Hospitals 22.0 In-Patient 0 Sale of pharmaceutical products 0 Self Pay 0 Others 7.0

Max Healthcare Institute Ltd.

Max Healthcare Institute Ltd.

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