Max India's Consolidated Q2FY14 PBT Jumps 116% to Rs 93 Cr,

New Delhi, Delhi, India, Friday, November 08, 2013 -- (Business Wire India) 
-- Max Life's1 market share increases 60 basis points to 9.7%; announces
dividend of Rs 128 Cr 
-- MHC2 turns cash positive in H1FY14; Q2FY14 EBIDTA up 6 times
-- Max Bupa's Net Earned Premium up 96%, signs Deustche Bank as a bancassurance
partner
-- Antara commences prelaunch sales in Q2FY14
-- Max Speciality Films Q2FY14 EBITDA up 46% 
Max India Ltd., one of India's leading multi-business corporates, today
announced its results for the quarter ended 30 September, 2013. The consolidated
Profit Before Tax (PBT) for Q2FY14 rose by 116% to reach Rs. 93 Cr. The
Operating Revenue registered an increase of 12% to Rs. 2158 Cr. The Board of
Director's of Max India Limited have proposed an interim dividend of 90%,
translating to Rs. 1.80 per share and aggregating to Rs. 48 Cr. This follows a
consolidated dividend of 610%, aggregating Rs. 324 Cr., paid by Max India in
FY13.  
Commenting on the Company's performance, Mr. Rahul Khosla, Managing Director,
Max India Ltd. said, “Our Businesses of Life are positioned for sustained and
profitable growth, and are setting the pace in their respective industries.
These results are especially pleasing when evaluated against the backdrop of a
generally challenging macroeconomic and regulatory environment. This positive
financial performance, a healthy balance sheet and a comfortable liquidity
position has led the Board of Directors to approve an interim dividend of 90%. I
am confident that our commitment to core values and strategies will continue to
deliver superior results in the future.” 
Mr. Mohit Talwar, Deputy Managing Director, Max India Ltd. added that, “The
liquidity position continues to be healthy at Rs. 2,300 Cr., across operating
companies and the listed entity. This will ensure that the Group is well
positioned to tap future growth opportunities”. 
Last week, Max Life, a 71% subsidiary of Max India declared a dividend of Rs 128
Cr. supported by 20% growth in its Q2FY14 Profit Before Tax(PBT), and a 8%
growth in the Gross Premium. The company outperformed in the private life
insurance segment, with a 60 basis point increase in market share to 9.7%.
During the period its Assets Under Management (AUM) rose 13% to Rs. 21,735 Cr.
The company's Solvency Ratio of 521%, is more than 3 times the mandatory 150%,
reflecting its strong and stable financial position. 
Max Healthcare, a 66% subsidiary of Max India, turned cash positive in H1FY14.
The company recorded a 6 fold jump in its Q2FY14 EBIDTA to Rs. 31 Cr., which was
backed by nearly 8% increase in average occupancy to 78%. 
Max Bupa Health Insurance, a 74% subsidiary of Max India, signed a bancassurance
distribution agreement with Deustche Bank, which will help the company develop a
balanced distribution mix. Alongside, Max Bupa continued its rapid growth,
recording a 69% rise in the lives covered in Q2FY14.  
The customer confidence in Max Bupa continued to rise with the persistency level
increasing 3% in Q2FY14 to 83%. 
Antara Senior Living, a 100% subsidiary of Max India, laid the foundation for
its first senior living community in Dehradun and also awarded the civil
contract for its maiden community to renowned infrastructure firm, Shapoorji
Pallonji Co. Ltd. Alongside, the Company kicked off its pre-launch sales and has
received a positive response. 
Max Speciality Films (MSF), a division of Max India registered a 46% rise in
Q2FY14 EBITDA to Rs 16 Cr. as the temporary pricing pressure due to oversupply
eased and the European markets started stabilizing after witnessing a slowdown.  
About Max India's Subsidiaries 
Max Life Insurance Company Ltd. (MLIC) – is a joint venture between Max India
Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Mitsui Sumitomo Insurance, is a part
of MS&AD Insurance Group, which is amongst the leading general insurers in the
world. Max Life Insurance, one of India's leading life insurers, offers
comprehensive life insurance and retirement solutions for long-term savings and
protection. A financially strong and stable company with focus on quality of
advice, sound investment expertise and service excellence, Max Life Insurance
has set in place values driven culture and corporate governance through its
superior human capital. The Company has a country wide diversified distribution
model, including the country's leading agent advisors, exclusive corporate
agency arrangement with Axis Bank and several other partners. 
Max Healthcare (MHC) is a joint venture with Life Healthcare, South Africa, and
is the Country's leading comprehensive provider of standardized, seamless and
international-class healthcare services. It is committed to the highest
standards of medical and service excellence, patient care, scientific and
medical education. 
Max Healthcare operates 12 facilities in North India, offering services in over
30 medical disciplines. Max Healthcare has 12 facilities in North India,
offering services in over 30 medical disciplines. Of this 9 facilities are
located in Delhi & NCR and the others in Mohali, Bathinda and Dehradun. The Max
network includes state-of-the-art tertiary care hospitals in Saket, Patparganj,
Shalimar Bagh, Mohali, Bathinda and Dehradun, secondary care hospitals at
Gurgaon, Pitampura and Noida and an out-patient facility and a speciality centre
at Panchsheel Park. The Super Speciality Hospitals in Mohali and Bathinda are
under PPP arrangement with the Government of Punjab.  
Max Healthcare has a base of over 1900 leading doctors, 5500 employees and
around 1.9 million patients from 80 countries, across its network of 12
hospitals. 
Max Bupa Health Insurance Limited is a, 74:26 joint venture between Max India
Ltd. and Bupa Finance Plc, UK, a leading international healthcare provider with
65 years of healthcare knowledge. The Company brings together a combination of
Bupa's global health insurance expertise and customer service expertise with Max
India's understanding and experience of the Indian health and insurance sectors. 
Max Bupa offers quality health insurance services through a dedicated team of
over 1000 people and its network of 21 offices across 13 cities - Delhi, Mumbai,
Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi,
Kolkata and Patna. Max Bupa has a customer base of 1.4 million and it offers
individual and family oriented health insurance policies for Indians across all
age groups. 
Max Bupa Health Insurance has a direct working relationship with a network of
3000 top quality hospitals and healthcare providers and at the same time the
company plans to extend its network of hospitals to other parts of the country.
Max Bupa services customers directly without third party involvement.  
Antara Senior Living(Antara): Max India Group has charted its next phase of
growth by entering the Senior Living Business. Due to the fast changing social
milieu, the concept of Senior Living presents a rapidly growing yet inadequately
serviced business opportunity in India. Antara Senior Living focuses on people
over the age of sixty and the first initiative is to create vibrant residential
communities for progressive seniors that offer “Lifestyle with Lifecare”.
Keeping in line with the Max Group values of “Seva bhav, Excellence and
Credibility”, Antara truly aims to create a difference to the lives of seniors
in India. With its initial focus for building these communities in North India,
Antara has partnered with best in the class international architects and
industry experts, to design and develop its first community in Purukul,
Dehradun. Spread across 20 acres this community will comprise of 217 resident
apartments and approximately 50 wellness suites that will cater to the advanced
healthcare needs of the residents and seniors. Launched on 24th May 2013, this
community will be ready for residents to move into by early 2016. 
Max Speciality Films (MSF) specializes in manufacturing specialty barrier and
packaging (BOPP) films to cater to the needs of wide range of sophisticated
packaging applications including food packaging, overwrap, consumer products and
label manufacture. MSF's leather finishing foil business division manufactures a
range of leather finishing and laminating foils. The Company has an installed
capacity of 52,000 tons per annum. 
Max Neeman Medical International (MNMI) provides Clinical Research services
across the entire value chain of new drug development. MNMI conducts Phase II,
III, IV of clinical trial studies and has access to over 2000 ICH-GCP trained
investigators and 230 research coordinators across 43 cities to offers services
to a growing list of Pharmaceutical, Biotech and Clinical Research clients, in
India and abroad. MNMI is focusing on developing alliances with midsized pharma
and biotech companies to transition their drug development work to India. The
Company has an employee base of 250 at five Regional offices in India & one
business development office in USA. 
About Max India 
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 ‘Business of Life' with
its vision to be one of India's most admired corporates for Service Excellence.
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 SBU Max Speciality Films.  
The Group's businesses have built commanding presence in their respective
sector, through a total customer base of nearly 6.8 million, over 300 offices
spread across India and a people strength of 60,000 persons. The flagship
company Max India Limited is a widely held public ltd company, listed on the BSE
& the NSE. Mr. Analjit Singh, Founder & Chairman, is the lead shareholder in Max
India with over 39% holding. Other leading shareholders in the company include
some of world's best Institutional Investors, such as Goldman Sachs,
International Finance Corporation, Washington (IFC), Temasek Holdings.  
Connect with Max India on social media:  
Linkedin: Max India Ltd
Twitter: @maxindialtd
Facebook: maxindialimited
Youtube: channelmaxindia 
1Adjusted First Year Premium
2MHC Network of Hospitals 
Media contact details 
Nitin Thakur, Head – Communications,
Max India Limited,
+91 (11) 26933610 extn. 196 / +91 9873347428,
nthakur@maxindia.com 
Rahul Gossain, Communication Specialist,
Max India Limited,
+91 (11) 26933610 extn. 145 / +91 9873154228,
rgossain@maxindia.com 
Contributed via: Bloomberg Publisher WEB Service 
Provider ID: 16a27964bb1844b3b1a95c9913b609be 
-0- Nov/08/2013 11:39 GMT