Improved realization led to growth in earnings

Company
11 Mar 2024
5 Min read 
  • Max Healthcare reported in-line 3QFY24 performance with healthy growth in revenue and EBITDA.
  •  Improved realization and bed capacity expansion contributed to growth in earnings.
  •  Earnings estimate raised for FY24/FY25/FY26 due to improved ARPOB and operational efficiency.
  •  Valuation multiple increased on the back of superior execution and profitable growth.
  •  Max Healthcare remains positive with consistent growth in earnings and potential for hospital expansion.
  •  MaxLab and Max@Home segments expected to drive growth in diagnostic business.
  •  Reiterate BUY rating with a target price of INR930.
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