For
the quarter ending June 2022, consolidated net sales (including other operating income) of Max Healthcare Institute has increased 6.61% to Rs 1066.27 crore compared to quarter ended june 2021. Operating profit margin has jumped from 24.41% to 24.79%, leading to 8.26% rise in operating profit to Rs 264.36 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 29.52% to 20.59%. Employee cost decreased from 19.25% to 18.61%. Other expenses rose from 27.96% to 36.00%. Consultancy Management service cost rose from 16.85% to 22.26%. Other income rose 21.38% to Rs 31.51 crore. PBIDT rose 9.52% to Rs 295.87 crore. Provision for interest fell 16.32% to Rs 22.36 crore.
PBDT rose 12.36% to Rs 273.51 crore. Provision for depreciation rose 6.63% to Rs 57.13 crore.
Profit before tax grew 13.97% to Rs 216.38 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 43.55 crore, compared to Rs 42.93 crore. Effective tax rate was 20.13% compared to 22.61%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 17.64% to Rs 172.83 crore. Promoters’ stake was 50.64% as of 30 June 2022 ,compared to 70.46% as of 30 June 2021 . Promoters pledged stake was 51.15% as of 30 June 2022
Full year results analysis.
Net sales (including other operating income) of Max Healthcare Institute has increased 56.97% to Rs 3931.46 crore. Operating profit margin has jumped from 16.12% to 23.97%, leading to 133.39% rise in operating profit to Rs 942.56 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 23.31% to 23.62%. Employee cost decreased from 23.64% to 19.29%. Other expenses fell from 36.84% to 33.16%. Consultancy Management service cost fell from 21.40% to 20.55%. Other income rose 11% to Rs 127.36 crore. PBIDT rose 106.31% to Rs 1069.92 crore. Provision for interest fell 43.79% to Rs 100.87 crore. Loan funds declined from Rs 1,101.41 crore as of 31 March 2021 to Rs 913.38 crore as of 31 March 2022. Inventories rose to Rs 61.36 crore as of 31 March 2022 from Rs 53.80 crore as of 31 March 2021. Sundry debtors were higher at Rs 385.36 crore as of 31 March 2022 compared to Rs 365.89 crore as of 31 March 2021. Cash and bank balance declined from Rs 652.92 crore as of 31 March 2021 to Rs 499.31 crore as of 31 March 2022. Investments stood at Rs 0.51 crore as of 31 March 2022 to Rs 0.51 crore as of 31 March 2021.
PBDT rose 185.74% to Rs 969.05 crore. Provision for depreciation rose 27.01% to Rs 221.12 crore. Fixed assets declined from Rs 4,108.65 crore as of 31 March 2021 to Rs 2,058.31 crore as of 31 March 2022. Intangible assets increased from Rs 2,454.66 crore to Rs 5,110.39 crore.
Profit before tax grew 353.15% to Rs 747.93 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -9.03 crore. Provision for tax was expense of Rs 133.85 crore, compared to Rs 45.85 crore. Effective tax rate was 18.11% compared to negative 50.00%.
Minority interest was nil in both the periods.
Equity capital increased from Rs 965.95 crore as of 31 March 2021 to Rs 969.61 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 50.64% as of 31 March 2022 ,compared to 70.46% as of 31 March 2021 . Promoters pledged stake was 51.15% as of 31 March 2022
Cash flow from operating activities increased to Rs 748.49 crore for year ended March 2022 from Rs 117.86 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 561.31 crore, compared to Rs 118.42 crore during the year ended March 2021.
Other Highlights
In
Q1 FY23, Network gross revenue grew 18%, on YoY basis.
Bed
occupancy in Q1 FY23 stood at 74%. Only 1% of total occupied beds were used for
Covid-19 patients compared to 7% in Q4 FY22 and 39% in Q1 FY22.
The
international patient footfalls reached pre-Covid levels in the quarter.
In
Q1 FY23, oncology contributed 17.1% of total revenue, Cardiac sciences 8.5%,
Neuro sciences 7.6%, Orthopedics 4.7%, Renal sciences 7.4%, Liver and biliary
sciences 2.8%, Internal medicine 21.9%, OBGY and pediatrics 3.6%, MAS and
general surgery 3.3%, Pulmonology 15.2% and Others 7.9%.
Company
reduced net debt to Rs 217 Crore as at the end of June 2022 from Rs 441 Crore
as on 31 Mar 2022.