Healthcare Network P&L Statement and Expansion Projects
MAX
Healthcare
Memorandum Consolidation of Network P&L: H1 FY24
MHIL & its
subsidiaries &
Silos
Partner Healthcare Facilities ("PHF") Financials
(IGAAP Unaudited)*
Eliminations
Ind AS
Unaudited
Balaji
Society
GM Modi
Society
Devki Devi
Society
IND AS
&
Adjustment
(2)
Adjustment(¹)
Revenue from operations
2,648
310
221
390
(229)
Figs in INR Cr
MHC Network
(Consolidated)
(Certified by an
ICA)
3,341
Other income (3)
9
2
7
15
(13)
20
Total operating income
2,658
312
228
405
(242)
3,361
Pharmacy, drugs, consumables & other direct costs
556
65
49
106
35
811
Employee benefits expense (4)
443
41
26
40
129
679
Other expenses (5)
892
154
114
185
(3)
(405)
938
Total expenses
1,891
259
190
330
(3)
(240)
2,427
Operating EBITDA
767
53
38
74
3
(1)
933
Less: non-operating expenses
ESOP (Equity-settled Scheme)
Movement in fair value of contingent consideration
payable and amortisation of contract assets
Reported EBITDA
Finance costs (Net)
Depreciation & Amortisation
Profit/ (Loss) before tax
Tax
Profit/ (Loss) after tax
24
24
1
24
14
14
728
53
38
74
3
(49)
(3)
14
9
1
114
9
9
10
2
664
47
15
55
0
ཆ2 ཝ
(1)
895
8
(20)
(13)
130
785
152
5
157
512
47
15
55
0
(1)
628
*New PHFS i.e. Vikrant Children's Foundation and Nirogi Charitable and Medical Research Trust have not been reflected separately and included in the Eliminations & Adjustments due to
negligible values
(1) Mainly IND AS 116 (Accounting for Leases) at PHFs | (2) Eliminations relate to revenue from PHFS and intra-network sale/purchase. Also includes consequential impact on amortisation due
to reversal of Intangible assets recognized at MHIL & its subsidiaries for contracts with PHFs. The net present value of the amount payable by a PHF to unconsolidated part of the Society over the
contract period was accrued during PPA and payment there against has thus been knocked off against the liability so created. Further, cost of non-treating doctors on retainership, forex
gain/loss etc. have been reclassified under Employee benefits expense & Finance costs resp. | (3) Other Income includes income from EPCG, unclaimed balances written back, donations &
contributions, scrap sale, income from outlets/in hospital displays, etc. | (4) Includes non-clinical doctors on retainership & movement in OCI for actuarial valuation impact but excludes ESOP
expenses | (5) Net of bad debts recovered and excludes movement in fair value of contingent consideration and amortisation of contract assets, which is reflected below Operating EBITDA, and
includes cost of admitting doctors
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