AI Summary
✦ ClarthaMax Healthcare Institute is an Indian healthcare services company, anchored by specialty hospitals across cardiac sciences, oncology, orthopedics, renal sciences, and surgery. Max@Home adds home-based health and wellness services, while Max Lab provides diagnostic testing. Revenue grew 19% year-on-year, and profit increased 34.1%, indicating operating leverage despite stable margins. The Kalinga Hospital subsidiary’s NCLT proceedings remain an execution and potential consolidation variable. ROE is 14.3%, while debt-to-equity of 32.37 means substantial leverage amplifies shareholder returns and balance-sheet risk. Profit growth currently exceeds revenue growth, but stable margins leave limited evidence of further operating improvement. At 72.4 times earnings, the shares appear rich relative to current growth, with valuation depending on sustained specialty-care expansion. Neutral sentiment reflects the open question around Kalinga Hospital and whether future growth can justify the premium multiple.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 26 analysts
Fundamentals
Fundamentals institutional score is 67 using EVA spread proxy 2.3%; growth durability 70.3.
Valuation
Valuation institutional score is 42 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 57 using mean target upside 12.8%; dispersion penalty 18.6; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 61 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 2 recent ticker-linked news items.
Signal Summary
Market intelligence remains Neutral. fundamentals provide support, while valuation and market sentiment remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 5.1% above historical median. Valuation is declining — currently in the overvalued zone (z-score: +0.46). Confidence: 80%.
Live forward EPS implies next-12-month EPS of ₹24.24. Applying the stock's normalized valuation corridor produces a fair range of ₹1,384.83 to ₹1,811.94, with base value near ₹1,639.84 (+56.1% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹24.24
Forward P/E
43.3x
Base Fair Value
₹1,639.84
Fair Range
₹1,384.83 - ₹1,811.94
Upside To Base
+56.1%
Estimate Source
Live forward EPS
Growth Estimate
+7.4%
5Y Average
51.07
Current
71.11
Overvalued
74.75
Undervalued
57.13
5Y Average
35.22
Current
49.04
Overvalued
48.79
Undervalued
20.49
5Y Average
8.77
Current
12.21
Overvalued
12.15
Undervalued
5.10
Peers & Comparison
Sector: Industrials · Theme: Batteries
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
EXIDE INDUSTRIES LTD EXIDEINDBatteries | +17.7% | 4.9% | 44.5x Fair | 0% vs avg | +29.0% |
MAX HEALTHCARE INS LTD trades at a premium (70.5x vs peer avg 44.5x), implying higher growth or quality expectations from the Batteries cohort. Peers include EXIDE INDUSTRIES LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹733 CrMar 2026Latest net profit
₹203 CrMar 2026Latest EPS
₹2.09Mar 2026Net margin
29.0%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 507 | 544 | 597 | 591 | 610 | 621 | 686 | 697 | 659 | 694 | 737 | 711 | 733 |
| Expenses + | 354 | 384 | 394 | 391 | 407 | 423 | 461 | 461 | 484 | 506 | 523 | 507 | 518 |
| Operating Profit | 154 | 160 | 203 | 200 | 203 | 198 | 225 | 236 | 175 | 188 | 214 | 204 | 215 |
| OPM % | 30% | 29% | 34% | 34% | 33% | 32% | 33% | 34% | 27% | 27% | 29% | 29% | 29% |
| Other Income + | 41 | 43 | 48 | 43 | 134 | 43 | 134 | 18 | 98 | 80 | 47 | 68 | 91 |
| Interest | 14 | 14 | 13 | 10 | 15 | 8 | 8 | 23 | 9 | 9 | 9 | 11 | 11 |
| Depreciation | 30 | 28 | 28 | 30 | 32 | 30 | 32 | 33 | 36 | 35 | 37 | 36 | 35 |
| Profit before tax | 151 | 161 | 210 | 203 | 291 | 203 | 318 | 198 | 227 | 223 | 216 | 225 | 260 |
| Tax % | 16% | 22% | 23% | 22% | 17% | 24% | 27% | 30% | 22% | 26% | 26% | 17% | 22% |
| Net Profit + | 126 | 126 | 161 | 158 | 242 | 154 | 231 | 138 | 177 | 166 | 160 | 187 | 203 |
| EPS in Rs | 1.30 | 1.30 | 1.66 | 1.63 | 2.49 | 1.59 | 2.38 | 1.42 | 1.82 | 1.71 | 1.65 | 1.92 | 2.09 |
| Raw PDF |
All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).
Events Timeline
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Board Meeting Intimation for Consideration And Approval Of Financial Results
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations 2015