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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Max Healthcare Institute Ltd

Max Healthcare Q2 FY27 Gross Revenue ₹ 3,219 Cr, up 20% YoY

RESULTS ▲ Positive Development LOW RISK
📅 Filed on BSE: 30 Oct 2026, 02:54 PM IST  ·  BSE ID: 17df8ae9-bb4a-41d0-813a-a0ed316b80bd
View Original BSE Filing (PDF)
💡
In Simple Terms
Max Healthcare's revenue and profit grew in the last quarter, driven by more beds and higher patient visits.
🤖 AI Summary
  • Max Healthcare's Q2 FY27 gross revenue was ₹ 3,219 Cr, registering a 20% year-on-year growth.
  • Network PAT for Q2 FY27 stood at ₹ 448 Cr, showing a 10% year-on-year increase from ₹ 406 Cr in Q2 FY26.
  • Operational bed capacity increased by 16% YoY to 5,518 beds, with quarterly bed occupancy at 77%.
  • Free cash from operations reached ₹ 500 Cr, with ₹ 292 Cr invested in expansion and ₹ 195 Cr disbursed for dividends.
  • The Board approved capital expenditure of ₹ 415 Cr to add 209 brownfield beds across existing hospitals.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Gross Revenue (Q2 FY27)
₹ 3,219 Cr
20%
Network PAT (Q2 FY27)
₹ 448 Cr
10%
Operational Bed Capacity (Sep’26)
5,518
16%
Bed Occupancy (Q2 FY27)
77%
Free Cash from Operations (Q2 FY27)
₹ 500 Cr
Net Debt (Sep’26)
₹ 2,369 Cr
🏢 How This Affects the Company
📈
Business Impact
The company's gross revenue increased by 20% YoY to ₹ 3,219 Cr, driven by a 13% YoY rise in Occupied Bed Days and an 8% YoY increase in Average Revenue Per IP Patient (ARPP) to ₹ 2.31 lakh. International patient revenue grew by 33% YoY to ₹ 307 Cr, contributing approximately 10% of hospital revenue.
💰
Financial Impact
Network PAT increased by 10% YoY to ₹ 448 Cr. Free Cash from Operations was ₹ 500 Cr, with ₹ 292 Cr allocated for ongoing expansion and ₹ 195 Cr for dividends. Net Debt at the end of September 2026 stood at ₹ 2,369 Cr, a decrease from ₹ 2,384 Cr at the end of June 2026.
⚙️
Operational Impact
Operational bed capacity expanded by 16% YoY to 5,518 beds. The company commenced services at a new Oncology Block in MSSH, Dwarka, and approved ₹ 415 Cr capital expenditure for 209 brownfield beds across MSSH Noida, MSSH Vaishali, and BLK Max Delhi.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this earnings update.
👤
Who Is Affected
Shareholders benefit from the company's Q2 FY27 Net Debt reduction to ₹ 2,369 Cr and the disbursement of ₹ 195 Cr towards the FY'26 dividend.
🔍
Management Signal
Management is signaling a focus on organic growth through brownfield bed expansion and strengthening presence in key markets, alongside improving operational cash flow.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q3 FY27 financial results — check revenue and profit growth trends.
Progress on 209 brownfield beds — monitor commissioning timelines.
Updates on Kalinga Hospital integration and performance.
LOW RISK The filing indicates consistent growth, operational expansion, and healthy cash generation, with no new significant risks flagged.
💡 Investor Takeaway
Max Healthcare reported Q2 FY27 gross revenue of ₹ 3,219 Cr, up 20% YoY, and Network PAT of ₹ 448 Cr, up 10% YoY. Operational bed capacity rose 16% YoY to 5,518, while Free Cash from Operations reached ₹ 500 Cr, funding expansion and dividends.
⚖️ Strengths & Concerns

✅ Positives

  • Gross Revenue increased by 20% YoY to ₹ 3,219 Cr in Q2 FY27, indicating strong top-line growth.
  • Free Cash from Operations improved to ₹ 500 Cr in Q2 FY27 from ₹ 291 Cr in Q2 FY26, supporting expansion and dividend payments.

⚠️ Concerns

  • PAT growth of 10% YoY to ₹ 448 Cr was lower than the 20% YoY gross revenue growth, indicating some margin compression.
  • Operating EBITDA margin decreased slightly to 26.8% in Q2 FY27 from 26.9% in Q2 FY26.
📅 Company Track Record
Max Healthcare reported consolidated profit of Rs. 41,445 Lakhs for Q2 FY27 (as per previous filing), and revised Gurugram hospital cost to ~₹1,143 Crore. The company consistently focuses on capacity expansion and operational efficiency.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Max Healthcare's gross revenue in Q2 FY27?
Max Healthcare's gross revenue stood at ₹ 3,219 Cr in Q2 FY27, representing a growth of 20% YoY.
What was Max Healthcare's Network PAT in Q2 FY27?
Network PAT for Max Healthcare in Q2 FY27 was ₹ 448 Cr, an increase of 10% YoY compared to ₹ 406 Cr in Q2 FY26.
How much did Max Healthcare's operational bed capacity grow by September 2026?
Max Healthcare's operational bed capacity at the end of September 2026 stood at 5,518, an increase of 758 beds or 16% YoY compared to September 2025.
What was Max Healthcare's Free Cash from Operations in Q2 FY27?
Free Cash from Operations for Max Healthcare was ₹ 500 Cr in Q2 FY27, compared with ₹ 291 Cr in Q2 FY26.
What capital expenditure did Max Healthcare's Board approve?
The Board approved capital expenditure of ₹ 415 Cr for the addition of 209 brownfield beds across existing hospitals.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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