Max Healthcare sees strong growth in H1 FY26, consistent for 20 quarters

Max Healthcare Institute Limited announced a 21% year-on-year revenue growth and a 23% increase in operating EBITDA for Q2 FY26, marking 20 consecutive quarters of consistent growth. Existing units contributed a 14% revenue growth and 19% EBITDA growth, with average occupancy at 77%. The Average Revenue Per Occupied Bed (ARPOB) for the quarter was INR 77,300, a 1% year-on-year increase, with existing units seeing a 3% like-for-like ARPOB growth.

The company's Q2 PAT reached INR 554 crore, including a one-time favorable tax impact of INR 149 crore from mergers, with adjusted PAT at INR 406 crore, up 16% year-on-year. Digital revenue grew to INR 803 crore, accounting for approximately 30% of overall revenue, and international patient revenue increased by 25% year-on-year to INR 231 crore.

Capacity expansions are underway, with new brownfield towers at Nanavati-Max and Max Smart set for commissioning soon. The company also expects a favorable impact of over INR 200 crore from recently revised CGHS prices once fully implemented. Max@Home and Max Lab reported strong revenue growth of 20% and 16% respectively.