Max India Limited is a specialized senior care company that operates primarily through its Antara brand and subsidiaries like Max Estates Gurgaon Limited (MEGL), focusing on the senior care sector. The company's business encompasses senior living residences, assisted care services including care homes and at-home care, and a products vertical called AGEasy that caters to senior needs.
Max India Limited is part of the Max Group, an Indian conglomerate headquartered in New Delhi that was founded in 1985 by Analjit Singh. Max India serves as the holding company of Max Group's Senior Care business Antara, operating as an integrated service provider for all senior care needs. The company is part of a leading Indian multi-business conglomerate with interests in Life Insurance, Real Estate, and Senior Living industries.
The company is led by Analjit Singh, who serves as the Founder & Chairman of The Max Group, a $5-bn Indian multi-business enterprise. Rajit Mehta is the Managing Director of Max India Limited and also serves as the Managing Director and Chief Executive Officer of Antara Senior Living.
The company operates through four main segments: Business Investments, Senior Living, Assisted Care, and Others. The Business Investments segment includes treasury investments, rental from investment property, and functional support services to group companies. The Senior Living segment is engaged in the business of senior living, while the Assisted Care segment caters to seniors by providing Care at Home services, care homes facilities, and sale/rental of MedCare products carried out by its subsidiary.
The company engages in treasury investments, rental from investment property services, and offers functional support services. It also provides Care at Home services and Care Homes facilities, offering daily living and memory care, and specialized care services. Additionally, the company provides management and consultancy services, shared services, and rents and sells MedCare products. The company also engages in learning and development activities, construction and leasing of senior living communities, and management of investment activities.
As of the latest available data, Max India Limited has a market capitalization of ₹971 crore. The company's financial performance has been challenging in recent periods. Sales declined 17.16% to ₹145.49 crore in the year ended March 2025 as against ₹175.63 crore during the previous year ended March 2024. For the full year, the company reported a net loss of ₹140.39 crore in the year ended March 2025 as against net loss of ₹56.38 crore during the previous year ended March 2024.
For the quarter ended March 2025:
• Revenue: ₹41.52 crore (down 7.82% from March 2024)
• Net Loss: ₹46.09 crore (compared to ₹21.57 crore loss in March 2024)
For the quarter ended December 2024:
• Revenue: ₹34.74 crore (down 14.62% from December 2023)
• Net Loss: ₹44.60 crore (compared to ₹17.90 crore loss in December 2023)
Max India announced a rights issue in April 2025 to raise ₹125 crore by issuing 82,81,973 equity shares at ₹150 each. The rights issue opened on May 7, 2025, and closed on May 22, 2025, with a ratio of 19 shares for every 100 held by eligible shareholders as of April 29, 2025.
In March 2025, Max India announced that its wholly owned subsidiary Antara Senior Living made an investment of ₹7.03 crore in Max Estates Noida to acquire a 10% equity stake in it.
• Market Capitalization: ₹978 Cr (as of 22-May-2025)
• P/B Ratio: 1.87 times (as of 22-May-2025)
• 52-Week High: ₹319.29
• 52-Week Low: ₹159.65
• Promoter Holding: 50.45% (as of May 2025, down from 50.94% as of September 2024)
• Sales Growth (5-year): -7.17%
• Return on Equity (3-year): -12.6%
Max India Ltd has given a return of 40.44% in the last 3 years. However, the company faces operational challenges, with poor sales growth of -7.17% over the past five years and a low return on equity of -12.6% over the last 3 years.
The company operates in the growing senior care sector in India, positioning itself to benefit from the country's aging population and increasing demand for specialized senior care services. Through its Antara brand, Max India provides comprehensive senior care solutions, from independent living communities to specialized care services, making it a focused player in this niche market segment.
