New Delhi, Delhi, India- Business Wire India
Max India's FY 2014 net revenue increases 19%* over previous fiscal to Rs 11,683
Max India announces 90% final dividend taking annual dividend to180% **
Max Life reports strong new sales growth of 17% over previous fiscal,
outperforming industry de-growth of 3%. The Company's gross premium increases
10% over previous fiscal to Rs 7279 Cr.
Max Healthcare turns cash profitable. Net Revenue increases 22% over previous
fiscal to Rs 1407Cr
Below is a summary of the consolidated financials of Max India
Quarter ended March 2014Quarter ended March 2013ChangeYear ended March 2014Year
ended March 2013Change
Revenue Rs 3740 Cr.Rs 2468 Cr.52%Rs 11683 Cr.Rs 9820 Cr.19%
EBIDTARs 121 Cr.Rs 87 Cr.39%Rs 506 Cr.Rs 419 Cr.21%
PBTRs 62 Cr.Rs 28 Cr.120%Rs 274 Cr.Rs 197 Cr.39%
PATRs 52 Cr.Rs 29 Cr.84%Rs 209 Cr.Rs 146 Cr.44%
Max India Ltd., one of India's leading multi-business corporates, today
announced its results for FY 2014. The Company reported a net increase in
consolidated revenue in FY 2014, by 19% over the previous fiscal to Rs 11,683
Cr. The rise in EBITDA for the same period was 21% and stood at Rs 506 Cr.
Profit After Tax (PAT) rose 44%, to Rs. 209 Cr., on a consolidated basis.
The Q4 FY 2014 figures were equally impressive with consolidated revenue rising
52% to Rs 3740 vs. Q4 FY 2013. Profit After Tax (PAT) rose by 84% to Rs 52 Cr
during the same period.
The key contributing factors to the sterling performance of the company have
been MLIC's 10% growth in premium income and Max Healthcare turning cash
positive, reporting a 22% increase in net revenue over last fiscal year.
Key highlights of subsidiaries
Max Life, a 71% life insurance subsidiary of Max India, continued to outperform
the industry, leading the Group's growth charge by posting an impressive new
sales growth of 17% over the previous fiscal. Its overall revenues increased by
19% to stand at Rs 9633 Cr. The increase in revenue was supported by a 10%
growth in Gross Premium during the period. Embedded Value as at the end of the
current period is at Rs.3,953 Cr., with operating Return on Embedded Value
(RoEV) at 15.6%. The Assets Under Management (AUM) of the Company rose by 21%,
during the fiscal year, to Rs 24,716 Cr.
Max Healthcare, a 66% subsidiary of Max India, reported growth of 22% in Gross
Revenue to Rs 1407 Cr, and 59% growth in EBIDTA, to Rs. 113 Cr supported by
higher average occupancy which increased to 74% this fiscal vs 69% in the
previous fiscal despite 12% expansion in operational beds to 1470 from 1300 beds
in the last fiscal year.
Max Bupa Health Insurance, a 74% subsidiary of Max India recorded a 49% rise in
net revenue in FY14 to stand at Rs 309 Cr. The company strengthened its
distribution through four new bancassurance tie-ups with Ratnakar Bank, Standard
Chartered Bank, Deustche Bank and Federal Bank.
Antara Senior Living, a 100% subsidiary of Max India serving the high potential
Senior Living industry, continued 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 division of Max India till last fiscal, and now a
subsidiary of Max India since 1 April 2014, saw stabilization of the industry
leading to margin and revenue improvement. This translated to a 33% growth in
EBIDTA to Rs. 57 Cr. MSF continues to operate at peak capacity vis-à-vis
average industry capacity utilization of around 70%.
Commenting on the Company's performance, Mr. Rahul Khosla, Managing Director,
Max India Ltd. said, “Our Businesses of Life continue to set the pace in their
respective industries, while focusing on sustained profitability and growth over
key fiscal metrics. The macro environment looks positive with the new government
in place. Backed by a high quality leadership team we are well placed for
another successful year.
Mr. Mohit Talwar, Deputy Managing Director, Max India Ltd. added, “Our
businesses have performed admirably even in challenging business environment.
Max Life has outperformed the industry, Max Healthcare has turned cash
profitable and we continue to be extremely bullish about the growth prospects of
Max Bupa As a Group, we are well positioned for growth in our businesses”
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 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% 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
Connect with Max India on social media:
LinkedIn: Max India Ltd
*All group level consolidated numbers exclude one off gains from stake of MLIC
** Subject to final shareholder approval
For News Release background on Max India Ltd. click here
Media Contact Details
Nitin Thakur, Director – External Affairs and Communications, Max India
Limited, +91-9873347428, +91 (11) 26933610 extn. 196, email@example.com
Anisha Rakyan, Manager-Brand & Communications, Max India Limited,
+91-9811024077, +91 (11) 26933610 extn. 240, firstname.lastname@example.org
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