Thread by @investage_

- Prominent theme in US 🇺🇸, soon to rise in India!

- A CO where ace investor Mr. Porinju Veliyath @porinju holds 1.05% stake.

- Microcap: M.Cap < 500 Cr, where opportunity size can be big if plays out!

MAX INDIA LTD. 🇮🇳
[A brief analysis] 🧵🧵

#investing #sharemarket
(1/18)

We are going to cover:

- COMPANY OVERVIEW
- BUSINESS SEGMENTS
- KEY BUSINESS METRICS
- SECTOR OUTLOOK
- STRENGTHS
- WEAKNESS
- CONCLUSION
- DISCLAIMER

(2/18)

COMPANY OVERVIEW:

Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs.

(3/18)

MAX INDIA owns Antara – an integrated service provider for all senior care needs operates two main business verticals:

Namely Antara Senior Living (Residences for Seniors) and Antara Assisted Care services (Care Homes, Care at Home, and Medicare Products). ✔

(4/18)

BUSINESS SEGMENTS: 📍

SENIOR LIVING:

Assisted Care Services of the Co. includes ‘Care Homes’, ‘Care at Home', & MedCare products.

They cater to seniors over age of 55, who need more immersive interventions in their daily lives due to medical or age-related issues. 🏥

(5/18)

RESIDENTIAL COMMUNITY:

CO's 1st residential community in Dehradun consists of ~180 apartments spread across 14 acre.

In 2020, Antara launched a new senior living facility in Noida. With 340 apts in its 1st phase of development, it will be ready for possession by 2025.

(6/18)

CARE AT HOME SERVICES:

“Care at Home” services deliver healthcare services such as home critical care, diagnostics, nursing care, pharmacy, and physiotherapy to seniors inside their own home’s comfort. It plans to set up a chain of 35-40 Care Homes in next 3 years. ✅

(7/18)

KEY BUSINESS METRICS: 💰

- The gross revenue of ANTARA ASSISTED CARE SERV. grew 48% in FY23.

Care Homes: Gross REV grew 55% in FY23 and 16% in Q4FY23

Care at Home: Gross REV grew 16% in FY23 and 27% in Q4FY23

MedCare: Gross REV grew 1.3x in FY23 and 2.7x in Q4FY23

(8/18)

An excerpt from the KBMs uploaded by the CO:

We can see: 🔎

- High inventory turnover along with the company being able to increase avg. sales realization per sq.ft.

- CO to expand in other metro cities

(9/18)

SECTOR OUTLOOK:

🇮🇳 Geriatric Care Services Market, by Services (In-Home Care, Assisted Living, etc), by Service Provider, & by Disease Indication is estimated to be valued at US$ 25.7 bill. in 2021, & is expected to exhibit CAGR of 7% during forecast period (2021-28).

(10/18)

India Geriatric Care Services Market to Surpass US$ 42.2 Billion by 2028!

An interesting data which shows the Global Scope of the Geriatric Care Services Market ⬇

[Claim via Coherent Market Insights and image via Precedence Research]

(11/18)

Increasing number of public campaigns related to geriatric care is expected to drive the growth of this market.

For instance, in OCT 2020, Harsh Vardhan, Union Health Minister of India, launched the Decade of Healthy Ageing (2020-2030) 🇮🇳

(12/18)

STRENGTHS: 💪🏻

High inventory turnover. Low debt/equity ratio demonstrate sound financial management.

CO has plans to invest 300 crores in next four to five years across new service verticals and its existing verticals of residences for seniors to drive future growth.

(13/18)

WEAKNESSES & THREATS: ⚠

CO's high interest payments in comparison to earnings raise concerns about sustainability of its financial performance over long term.

This could suggest that the company is not generating enough profits to support its interest payments.

(14/18)

Additionally, the company has experienced a decline in net cash flow, indicating that it may not be generating enough cash to fund its operations or invest in growth opportunities.

(15/18)

Conclusion:

Geriatric Care Services market seems like a good bet, if the theme plays out as indicated. & India, could become a prominent market for the same! 💯

Deep analysis of this CO is required, before dwelling into any investments, limited info is shared here. ✔

(16/18)

And, that's a wrap.

If you liked the analysis, make sure to like and retweet the FIRST TWEET to show support and share with maximum investors! ♻️

Do share your views on this CO in the comments below. 📩

(17/18)

Disclaimer: This Twitter thread is for educational and knowledge-sharing purposes only. We are not associated with the company in any form. This is not a buy/sell/hold recommendation of any kind. Kindly consult with your financial advisor before taking any action.

(18/18)

Active Trader/Investor?
Join our Free Telegram Group to get access to:

✅ Stock analysis for trading and investing which we are PERSONALLY tracking.
✅ Live updates
✅ Community discussions and market updates

telegram.openinapp.co/r3vph