Is Max Healthcare the new bellwether of the hospital business?

A sharp focus on cutting debt and sweating existing assets has ensured best-in-class profitability for the company. It now plans to grow bigger.

This is the fifth and final part in our year-end Public Markets Special for 2023. Read more about it here. 

In India, it is not just treatment in private hospitals that is costly. Hospital stocks are pricey too. If you go by the price-to-earnings ratio, the most commonly used metric to value listed companies, the shares of big hospital operators are easily among the most expensive in the market—the average P/E of such stocks is 2.5x that of the entire Nifty 50 index. 

The reasons are fairly obvious. A hospital business in India has …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor