Anand Rathi retains INR 1,220 target for Max Health stock

Published on 10/16/2026 at 11:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Anand Rathi kept its INR 1,220 target on August 17, 2026. Max Health stock posted a 24.9 percent EBITDA margin in Q1 FY27.

Capacity and earnings timetable

Anand Rathi retained an INR 1,220 target on August 17, 2026.
Q1 FY27 revenue reached INR 28.35 billion, up 15.2 percent year over year.
Max Healthcare is scheduled to report its quarter ended September 30, 2026, on October 30, 2026.

Max Health, INE027H01010, Illustration mit AI erstellt.

Max Health (ISIN INE027H01010) carries an INR 1,220 share-price target from Anand Rathi Research, while its Q1 FY27 EBITDA margin was 24.9 percent. The broker retained its target in a result update dated August 17, 2026, according to DSIJ.

Revenue grows as margins ease

Max Healthcare reported Q1 FY27 consolidated revenue of INR 28.35 billion, an increase of 15.2 percent year over year and 11.6 percent quarter over quarter. EBITDA rose 14.8 percent year over year to INR 7.05 billion, while adjusted net profit increased 3.3 percent to INR 3.79 billion, DSIJ reported on August 17, 2026.

The margin comparison is less favorable. Q1 FY27 EBITDA margin of 24.9 percent was below 26.8 percent in the fourth quarter of fiscal year 2026, with recently commissioned capacity and the Kalinga Hospital acquisition weighing on the sequential result.

What does expansion mean for margins?

Capacity additions provide the operating counterweight. Occupancy stood at 75 percent in Q1 FY27, while average revenue per occupied bed rose 5 percent year over year to INR 81,900. Anand Rathi said 202 beds at Max Smart were operational and 198 further beds were expected in the second quarter of fiscal year 2027, DSIJ.

Three dates frame the story

On May 18, 2026, Max Healthcare acquired a 58.28 percent stake in Kalinga Hospital. On June 30, 2026, it acquired all voting rights in Yerawada Properties, representing a 50.22 percent economic interest. On August 17, 2026, Anand Rathi retained its INR 1,220 target, DSIJ reported.

Next reporting date

Max Healthcare is scheduled to present results for the quarter ended September 30, 2026, on October 30, 2026. The date and analyst estimates were published by finanzen.ch on October 15, 2026.

Indian quote and valuation context

On the NSE, Max Health stock was last quoted at INR 843.65 on October 16, 2026, at 2:29 p.m. IST. The same market snapshot put the 52-week range at INR 842.05 to INR 1,221.90 and market capitalization at INR 821.1 billion. The narrow distance from the yearly low leaves execution and margin recovery central to the next results update.