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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 Revenue Rises to ₹ 3,219 Cr, PAT Up 10% YoY

RESULTS ▲ Positive Development LOW RISK
📅 Filed on BSE: 30 Oct 2026, 02:52 PM IST  ·  BSE ID: 0754dbda-9390-4f2a-b3c0-d3daa9fa91cf
View Original BSE Filing (PDF)
💡
In Simple Terms
Max Healthcare reported higher quarterly revenue and profit, driven by more patients and increased hospital capacity.
🤖 AI Summary
  • Gross Revenue for Q2 FY27 reached ₹ 3,219 Cr, reflecting a 20% year-on-year growth.
  • Network PAT for Q2 FY27 was ₹ 448 Cr, marking a 10% growth year-on-year compared to ₹ 406 Cr in Q2 FY26.
  • Operational bed capacity expanded to 5,518 beds by September 2026, an increase of 16% YoY.
  • Average Revenue Per Patient (ARPP) stood at ₹ 2.31 lakh in Q2 FY27, growing 8% YoY from ₹ 2.14 lakh.
  • Free Cash from Operations was ₹ 500 Cr in Q2 FY27, compared to ₹ 291 Cr in Q2 FY26.
🔢 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%
ARPP (Q2 FY27)
₹ 2.31 lakh
8%
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, mainly driven by a 13% YoY increase in Occupied Bed Days and an 8% YoY rise in Average Revenue Per Patient (ARPP). Expansion into new service lines like Max Lab (₹ 66 Cr gross revenue) and Max@Home (₹ 86 Cr gross revenue) also contributed to overall network revenue growth.
💰
Financial Impact
Network PAT increased by 10% YoY to ₹ 448 Cr. Free Cash from Operations significantly increased to ₹ 500 Cr in Q2 FY27 from ₹ 291 Cr in Q2 FY26, supporting ongoing expansion and dividend disbursements. Net Debt slightly decreased to ₹ 2,369 Cr at Sep '26 end from ₹ 2,384 Cr at Jun '26 end.
⚙️
Operational Impact
Operational bed capacity expanded by 758 beds (+16% YoY) to 5,518, improving patient service delivery with over 31 lakh episodes. New oncology block at MSSH, Dwarka commenced services, enhancing specialized care capacity. The Board approved ₹ 415 Cr for an additional 209 brownfield beds across existing hospitals.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected as the company reported its Q2 FY27 financial performance with a 10% YoY increase in Network PAT to ₹ 448 Cr. The company's shareholding in Kalinga Hospital Limited increased from ~58.28% to ~66.34%.
🔍
Management Signal
The Board's approval of ₹ 415 Cr capital expenditure for 209 brownfield beds indicates a continued focus on capacity expansion and demand absorption.

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

👁 Watch List — track these upcoming events
Q3 FY27 financial results — check revenue and PAT growth trends.
Updates on brownfield bed expansion and commissioning timelines.
Further details on Kalinga Hospital Limited integration and performance.
LOW RISK The filing indicates consistent growth and strategic expansion with no immediate 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 increased by 16% YoY to 5,518. The company approved ₹ 415 Cr capital expenditure for 209 new beds.
⚖️ Strengths & Concerns

✅ Positives

  • Gross Revenue grew 20% YoY to ₹ 3,219 Cr in Q2 FY27, indicating strong top-line performance.
  • Free Cash from Operations was ₹ 500 Cr in Q2 FY27, up from ₹ 291 Cr in Q2 FY26, supporting investments and dividends.

⚠️ Concerns

  • PAT growth at 10% YoY (₹ 448 Cr) was slower than Gross Revenue growth of 20% YoY for Q2 FY27.
  • Operating EBITDA Margin slightly decreased to 26.8% in Q2 FY27 from 26.9% in Q2 FY26, as a percentage of net revenue.
📅 Company Track Record
Max Healthcare has consistently reported quarterly results, with Q2 FY27 revenue up 20% YoY and Q2 FY27 PAT up 10% YoY. The company's previous filing on Oct 30, 2026, also highlighted similar growth metrics for Q2 FY27. Prior filings also confirmed a revised cost for the Gurugram hospital of ~₹ 1,143 Crore.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Max Healthcare's gross revenue for Q2 FY27?
Max Healthcare's gross revenue for Q2 FY27 was ₹ 3,219 Cr, representing a growth of 20% year-on-year.
What was the Network PAT for Max Healthcare in Q2 FY27?
The Network PAT for Max Healthcare in Q2 FY27 stood at ₹ 448 Cr, a growth of 10% year-on-year compared to ₹ 406 Cr in Q2 FY26.
How much did Max Healthcare's operational bed capacity increase by?
Max Healthcare's operational bed capacity increased by 758 beds (+16% YoY) to 5,518 beds at the end of September 2026.
What was the Average Revenue Per Patient (ARPP) for Max Healthcare in Q2 FY27?
The Average Revenue Per Patient (ARPP) for Max Healthcare in Q2 FY27 was ₹ 2.31 lakh, showing a growth of 8% year-on-year from ₹ 2.14 lakh in Q2 FY26.
What capital expenditure did Max Healthcare's Board approve?
Max Healthcare's Board approved a 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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