Max India’s Q2FY15 Consolidated operating revenue increases 15% to Rs 2483 Cr, PBT up 26% to Rs 117 Cr.

Max India’s Q2FY15 Consolidated operating revenue increases 15% to Rs 2483 Cr, PBT up 26% to Rs 117 Cr.

Financial Highlights

  • Max India’s Q2FY15 EBITDA up 21% at Rs 184 Cr
  • Max India proposes a dividend of 200% amounting to Rs 107 Cr
  • Max Life’s Individual new business premium (APE) for Q2 grows 5% to Rs. 436 Cr, in line with the private industry growth of 5%
  • Max Healthcare(MHC) sees growth of 24% in operating profit to Rs 435 cr in Q2FY15
  • LHC’s stake equalization in MHC leads to an inflow of Rs 383 cr to Max India
  • Max Bupa outperforms private life insurers; market share grows 21% over previous year
Below is a summary of the consolidated financials of Max India
Max India Quarter ended Sept 2014 Quarter ended Sept 2013 Change
Operating Revenue Rs 2483 Cr. Rs 2158 Cr. 15%
EBIDTA Rs 184 Cr. Rs 152 Cr. 21%
PBT Rs 117 Cr. Rs 93 Cr. 26%

Press statement:

New Delhi, 12 November 2014: Max India Ltd., one of India’s leading multi-business corporates,today announced its second quarter results of FY15. The Company reported a 47% increase in its Q2 FY15 consolidated revenue to Rs 3,291 Cr, over same quarter, previous fiscal. Operating revenue increased by 15% to Rs 2,483 and EBITDA rose by 21% to Rs 184 Cr for the same period. Profit Before Tax (PBT) rose 26%, to Rs. 117 Cr.

The key contributing factors to the company’s strong performance has been MLIC’s shareholder’s profits increasing by 21% to 165 Cr and Max Healthcare’s cash profit growth by 180% to Rs 22 Cr.

Key results highlights of Max India’s subsidiaries

Max Life Insurance, a 71% subsidiary of Max India, continued to outperform the industry by posting an impressive individual new business premium (APE) growth of 5%, to Rs 436 Cr vs Q2 FY14. The Gross Premium (GWP) of the Company grew 15% to Rs. 1937 crore and Assets Under Management (AUM) were up 29% to Rs. 28,038 crore.

Max Healthcare is a 46%* equal joint venture of Max India with LHC reported a growth of 24% in net revenue to Rs 435 Cr, and 44% growth in EBIDTA, to Rs. 45 Cr. It’s cash profit also grew by 180% to Rs 22 Cr. Life Healthcare completed its stake equalization with Max India, in Max Healthcare in the current quarter, at an Enterprise Value of Rs 3,650 Cr

Max Bupa Health Insurance, a 74% subsidiary of Max India posted, a growth of 21% in Gross Written Premium to Rs 86 crore. It’s average premium realization increased to 23% to Rs 6,452.

Antara Senior Living, a 100% subsidiary of Max India, serving the high potential Senior Living industry, continues to generate considerable media and public interest and witnessed encouraging sales momentum for its maiden senior living community being built at Dehradun

Max Speciality Films (MSF), a subsidiary of Max India since 1 April 2014, saw a 25% increase in EBIDTA to Rs 20 Cr in Q2FY15

About Max India

The Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Businesses of Life’ with its vision to be one of India’s most admired corporates for service excellence – in what we do, how we do it and the positive impact we have on society and our stakeholders. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mitsui Sumitomo Insurance, Japan; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ‘Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Speciality Products for the packaging industry through its fully owned subsidiary Max Speciality Films.

The Group’s businesses have built commanding presence in their respective sector, through a total customer base of nearly 7.5 million, over 300 offices spread across India and a people strength of over 70,000 persons. Max India remains committed to excellence in Corporate Governance and recognizes that in today’s world, it is an important driver for building all round excellence, attracting high-quality talent and intelligent capital. The Group and its companies are Shareholder steered, Board governed and Executive managed. The Board thoroughly evaluates business performance on nine strategic levers – enhancing business performance, investing in people and organisational development, creating efficiency in capital management, adopting an integrated enterprise-wide approach, investing sensibly in new growth opportunities, maintaining the highest standards of governance, continuously improving service quality, developing a distinct corporate brand and effectively managing risk.

The flagship company Max India Limited is a widely held public limited company, listed on the BSE & the NSE. Analjit Singh, Founder & Chairman, is the lead shareholder in Max India with around 40.5% holding. Other leading shareholders in the company include some of world’s leading Institutional Investors, such as Goldman Sachs, International Finance Corporation, Washington (IFC), and Temasek Holdings.

For more details contact:

Nitin Thakur

Head – Communications
Max India
Max House, Okhla – III,
New Delhi-110 020
Tele # 2693 3601-10 extn. 196
Cell # +91 9873347428

Anisha Rakyan

Manager-Brand & Communications
Max India Limited
Max House, Okhla – III, New Delhi-110 020
Tele # 2693 3610 Extn. 240, Cell # +91 9811024077

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Mobile: +91 9811024077