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Investor Presentaiton

MAX Healthcare Demonstrated best in class financial performance in last two fiscals Gross Revenue (INR Cr) 3,920 (11% 4,356 Sharp recovery post Covid-19 impact EBITDA (¹) (INR Cr) 590 515 360 348 2,320 1,561 49% 70% 1,385 1,161 263 37% 121 19% 326%) FY19 FY20 H1FY21 H2FY21 Q4FY21 Q1FY22 FY19 FY20 H1FY21 H2FY21 Q4FY21 Q1FY22 Margin (2) (INR Cr) 9.7% (5.0% 14.7% 8.3% (15.4% 27.2% (3.1%) 23.7% 24.1% וי FY19 FY20 H1FY21 H2FY21 Q4FY21 Q1FY22 . • • Q1 FY22 gross revenue at INR 1,385 Cr versus INR 1,161 Cr in Q4 FY21 (+19% QoQ). This includes revenue of INR 136 Cr from Covid-19 vaccination and related antibody tests post inoculation Operating EBITDA for Q1 FY22 was highest ever for 3rd consecutive quarter at INR 360 Cr versus INR 263 Cr in Q4 FY21 (+37% QoQ) Margin expansion was driven by high overall occupancy, significant uptake in Covid-19 vaccine administration, underpinned by impact of augmentation of clinical programs and structural cost initiatives implemented during FY20 and FY21 (1) EBITDA excludes one-time transaction costs of INR 37 Cr in FY19, INR 43 Cr in FY20 and INR 48 Cr in FY21; Numbers are post IND AS 116 | (2) Margin calculated on Net Revenue 26
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