| Revenue growth | ₹95.5 Cr, +90.4% YoY, +40% QoQ; residential fees collection-linked. |
|---|---|
| Margins | Loss ₹11.4 Cr vs ₹24.9 Cr QoQ; AGZ gross margin pressured by logistics. |
| Order book | No order book; Bengaluru ~₹900 Cr, Dehradun ₹850-900 Cr potential. |
| Demand visibility | Dehradun waitlist, Noida sales strong; AGZ demand festive/winter-dependent. |
| Management confidence | Optimistic; hedges lumpy ASL revenue and repeated breakeven timelines. |
Growth
Revenue +90.4% YoY and +40% QoQ; AGZ up 1.7x YoY; residential fees track lumpy collections.
Outlook
AGZ beta breakeven targeted Q4 FY27; care homes break even by end-H1 FY28; Bengaluru ~₹900 Cr and Dehradun ₹850-900 Cr sales potential.
Risks
Beta loss persists; AGZ contribution margin still below -20%; lumpy ASL collections; logistics cost pressure.
Last quarter's promises, checked
Delivered
- Blended ARPOB guided ~₹7,500 → peak ₹8,400 Sep, not blended (= BEAT)
- Loss ratio guided down from 63% → loss ₹24.9 Cr to ₹11.4 Cr QoQ (= BEAT)
Partly delivered
- ₹1,800 Cr value via 2 sites this year → ~₹900 Cr + ₹850-900 Cr potential, unsigned (= PARTIAL)
- AGEasy CM2 breakeven by Q4 → marketplace CM2 -17% Jul vs -70/-80% hist.; AGZ CM still below -20% (= PARTIAL)
Missed
- Bengaluru/Dehradun announcements 'in next few months' → still pending (= MISS)
Earnings Call Transcript filed with NSE, NSE: MAXIND. Summary written with AI assistance from the document.
Max India Ltd: key numbers
- Share price
- ₹144.35
- Market cap
- ₹813.0 Cr
- Revenue (annual)
- ₹190.6 Cr
- Net profit (annual)
- ₹-121.8 Cr
- P/E (TTM)
- -6.1×Sector 21.6×
- Promoter holding
- 48.22%-1.55% QoQ
- FII holding
- 6.88%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
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