MAMax India543223Quarterly results

Max India Q2FY27: consolidated revenue Rs 95.5 Cr, up 90.4% YoY, EBITDA loss narrows 55%

Q2FY27 consolidated revenue Rs 95.5 Cr, up 90.4% YoY; EBITDA loss narrowed 55% to Rs 11.4 Cr.

By ScoutQuest · Tue 3 Nov 2026, 4:21 PM IST · 1 min read

Q2FY27 consolidated revenue

Rs 95.5 Cr, up 90.4% YoY

EBITDA loss

narrowed 55% to Rs 11.4 Cr from Rs 25.3 Cr

Loss after tax (Q2FY27)

Rs 22.3 Cr from Rs 34.1 Cr

Period

Q2FY27

Positioning

Max India's Antara senior-living platform spans Residences for Seniors in Gurugram, Noida and Dehradun, Care Homes & Services with 485 bed capacity across 8 homes, and the AGEasy products business with 89 live products.

📉 Consolidated revenue was Rs 95.5 Cr in Q2FY27 against Rs 50.2 Cr in Q2FY26, up 90.4% YoY, while the EBITDA loss narrowed to Rs 11.4 Cr from Rs 25.3 Cr and the loss after tax to Rs 22.3 Cr from Rs 34.1 Cr. The company attributes the EBITDA improvement to higher revenue and cost optimisation across all verticals.

📈 Residences for Seniors segment revenue was Rs 50.5 Cr in Q2FY27 (156% YoY) and Care Homes & AGEasy Rs 43.6 Cr, with Residences sales collections of ~Rs 212 Cr in the quarter across Gurugram and Noida. Within that, Care Homes & Services revenue was Rs 12.79 Cr (~40% YoY) and AGEasy Rs 35 Cr (~1.7x YoY).

📉 The group is still loss-making: the Q2FY27 loss after tax of Rs 22.3 Cr brings the H1FY27 loss to Rs 58.5 Cr, current liabilities rose to Rs 193.26 Cr from Rs 162.49 Cr at 31-Mar-26 and equity fell to Rs 394.66 Cr from Rs 408.30 Cr. Care Home occupancy was 29% in Q2FY27 versus 28% a year earlier, with 4 of 8 homes tracking to plan and 2 trending towards plan.

🏭 Management states it will ramp occupancy on expanded Care Home capacity, lift the share of transition care and deepen clinical differentiation through PMR-led rehabilitation, while AGEasy expands through quick commerce, e-pharmacy platforms and B2B general trade; the presentation states AGEasy is targeting 0% CM2 in Q3FY27.

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