Max Healthcare Institute Ltd. benchmarking: Performance to industry peers

Financial

	Max Healthcare Inst.	Apollo Hospital Ent.	Fortis Healthcare
Operational Metrics
Hospitals
Average Daily Revenue Per Occupied Bed	77900.0 Rs	58685.89 Rs	71111.11 Rs
Hospital Occupancy Rate	75.0 %	68.0 %	68.0 %
Average Length Of Stay	4.2 Days	3.19 Days	4.26 Days
Operational Beds	4966.0 .	8131.0 .	6100.0 .
Unclassified
Inpatient Procedures	29.9 Thousand	n/a	n/a
Day Care Procedures	18.0 Thous	n/a	n/a
Outpatient Consults	923.0 Thous	n/a	n/a
Financials
5 yr Average ROE	9.71 %	13.17 %	6.72 %
5yr average Equity Multiplier	1.48	2.58	1.7
5yr Average Asset Turnover Ratio	0.42	1.01	0.5
5yr Avg Net Profit Margin	13.79 %	4.98 %	7.0 %
Price to Book	9.82	13.27	7.2
P/E	73.18	64.79	68.38
5yr Avg Cash Conversion Cycle	-143.35 Days	-20.18 Days	-114.77 Days
Inventory Days	5.36 Days	10.12 Days	6.37 Days
Days Receivable	29.86 Days	46.32 Days	33.12 Days
Days Payable	185.68 Days	72.66 Days	173.02 Days
5yr Average Interest Coverage Ratio	11.19	4.04	6.06
5yr Avg ROCE	10.55 %	12.23 %	7.58 %
5yr Avg Operating Profit Margin	23.93 %	12.88 %	17.0 %
5 yr average Debt to Equity	0.15	0.53	0.17
5yr CAGR Net Profit	18.98 %	57.25 %	n/a
5yr Average Return on Assets	6.36 %	5.14 %	3.82 %
Shareholdings
Promoter Holding	23.71 %	28.02 %	31.17 %
Share Pledged by Promoters	0.0	2.49 %	0.0
Change in Promoter Holding (3 Yrs)	-0.06 %	-1.31 %	0.0
Change in Mutual Fund Holding (3 Yrs)	-2.58 %	5.29 %	8.34 %

Business

	Max Healthcare Inst.	Apollo Hospital Ent.	Fortis Healthcare
Product Wise Break-Up	Product Wise Break-Up Healthcare 92.5 Pharmaceutical 4.17 Income from construction service 0 Pharmacy Distribution 0 Retail Health & Diagnostics 0 Healthcare services 0 Out-Patient Services 0 In-Patient Services 0 Others 3.33	Product Wise Break-Up Healthcare 0 Out-Patient Services 0 Healthcare 49.96 Pharmaceutical 0 Income from construction service 0 Clinics 7.34 In-Patient Services 0 Pharmacy 42.68 Others 0.02	Product Wise Break-Up Healthcare 0 Out-Patient Services 12.7 Healthcare services 0 Pharmaceutical 0 Income from construction service 0 Retail Health & Diagnostics 0 In-Patient Services 86.36 Pharmacy Distribution 0 Others 0.94
Therapeutic Area Wise Break-Up - Domestic	Therapeutic Area Wise Break-Up - Domestic Oncology 21.2 Cardiac Science 11.5 Orthopaedics 11.0 Central Nervous System (CNS) 10.5 Renal 9.7 Internal Medicine 6.0 Pediatrics 5.2 Pulmonology 5.0 MAS & Surgery 4.5 Liver 4.3 Orthopedics 0 Neuro & Spine 0 Gastro 0 Gynecology 0 Cardiac 0 Others 11.1	-	Therapeutic Area Wise Break-Up - Domestic Oncology 15.5 Orthopaedics 8.8 Pediatrics 0 Cardiac Science 0 Central Nervous System (CNS) 0 MAS & Surgery 0 Orthopaedics 0 Gastro Intestinal 4.9 Gynecology 3.2 Renal 7.1 Liver 0 Pulmonology 3.0 Cardiac Science 17.2 Central Nervous System (CNS) 8.5 Internal Medicine 0 Others 31.8
Location Wise Break-Up	Location Wise Break-Up Delhi 54.64 Uttar Pradesh 21.37 Maharashtra 11.1 Punjab 6.3 Uttarakhand 3.73 Haryana 2.85 International 0 Domestic 0 India 0 Karnataka 0 Tamil Nadu 0 Andhra Pradesh & Telangana 0 Rest of the World 0 South India 0 East India 0 West India 0 North India 0 Others 0.01	Location Wise Break-Up West India 0 Maharashtra 0 Delhi 0 International 0 Haryana 0 India 100.0 South India 0 Uttar Pradesh 0 East India 0 North India 0 Karnataka 0 Tamil Nadu 0 Uttarakhand 0 Rest of the World 0 Domestic 0 Punjab 0 Andhra Pradesh & Telangana 0	Location Wise Break-Up West India 20.0 Maharashtra 0 Delhi 0 International 0 Haryana 0 India 0 South India 33.0 Uttar Pradesh 0 East India 13.0 North India 30.0 Karnataka 0 Tamil Nadu 0 Uttarakhand 0 Rest of the World 4.0 Domestic 0 Punjab 0 Andhra Pradesh & Telangana 0
Customer Segment	Customer Segment TPA & Corporates 36.5 Self Pay 32.8 Institutional 21.6 International 9.1 Sale of pharmaceutical products 0 Out-Patient 0 In-Patient 0 Wellness 0 Direct Clients 0 Hospitals 0 CC 0 Walk-in 0 Clinical Trial 0	Customer Segment Institutional 0 International 0 Self Pay 0 Clinical Trial 0 Walk-in 0 In-Patient 42.81 Hospitals 0 Direct Clients 0 Out-Patient 14.01 CC 0 Wellness 0 TPA & Corporates 0 Pharmaceutical 41.77 Others 1.41	Customer Segment Institutional 0 International 4.0 Self Pay 0 Clinical Trial 0 Walk-in 21.0 In-Patient 0 Hospitals 22.0 Direct 25.0 Out-Patient 0 CC 17.0 Wellness 4.0 TPA & Corporates 0 Sale of pharmaceutical products 0 Others 7.0

Max Healthcare Institute Ltd.

Max Healthcare Institute Ltd.

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