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Swing Capital

Max India Ltd

NSE: MAXIND BSE: 543223

Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs. [1]

₹158
52W: ₹120 — ₹242
PE 0 · Book ₹198 · -20% vs book
Market Cap₹829 Cr
Stock P/E—Price to Earnings
ROCE0.43%Return on Capital
ROE0.49%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Stock is trading at 0.81 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -22.5% over past five years.
  • −Company has a low return on equity of 0.22% over last 3 years.

Shareholding Pattern

Promoters49.83%
FIIs7.07%
DIIs1.62%
Public41.48%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.94%50.94%50.94%50.45%▼0.550.16%▼0.350.06%▼0.149.89%▼0.249.83%▼0.1
FIIs9.01%7.41%▼1.66.77%▼0.66.63%▼0.17.13%▲0.57.08%▼0.07.09%▲0.07.07%▼0.0
DIIs0.81%0.81%0.94%▲0.10.8%▼0.10.98%▲0.21.43%▲0.41.58%▲0.21.62%▲0.0
Public39.23%40.83%▲1.641.35%▲0.542.11%▲0.841.72%▼0.441.45%▼0.341.44%▼0.041.48%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales7.687.587.725.835.414.593.32.853.143.13
Expenses5.836.717.995.545.24.995.644.195.614.77
Operating Profit1.850.87-0.270.290.21-0.4-2.34-1.34-2.47-1.64
OPM %24.09%11.48%-3.5%4.97%3.88%-8.71%-70.91%-47.02%-78.66%-52.4%
Net Profit0.87.36-8.240.93-0.74-0.95-3.395.71-0.42-3.2
EPS ₹0.161.43-1.60.18-0.14-0.18-0.651.09-0.08-0.61

AI Insights

Revenue Trend

TTM revenue at ₹12.42Cr, down 39.5% YoY. OPM at -62.72%.

Debt Position

Borrowings at ₹4.61Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 1.62% (+1.62pp change). FIIs: 7.07% (-3.64pp change). Promoters hold 49.83%.

Margin & Efficiency

ROCE declining from 0% (Mar 2020) to -0.43% (Mar 2025). Working capital days: -124.75.

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