Max Healthcare (MAXHEALTH) reports strong H1 FY26 performance. **Business Performance:** Net revenue rose 24% YoY to ₹5,039 Cr, with Operating EBITDA up 23% to ₹1,308 Cr.

PAT surged 40% to ₹899 Cr (incl. one-time gain). Occupancy hit ~76% and ARPOB was ₹78,000. Strong metro presence and top specialties like Oncology fueled this growth. **Growth Drivers or Strategy:** MAXHEALTH plans to double bed capacity in 4-5 years, adding 8,300+ beds via brownfield expansions and asset-light models.

Digital platforms like 'Max MyHealth' are enhancing patient experience and efficiency.

Expansion of Max Lab (pathology) and Max@Home (homecare) services is ongoing. **Recent Developments:** New brownfield towers at Mohali (+160 beds) and Nanavati-Max Phase 1 (+268 beds) are now operational, boosting capacity.

The Jaypee hospital acquisition in Noida is integrating, alongside progress on other asset-light projects. **Key Financial Metrics (H1 FY26):** Net Revenue ₹5,039 Cr, Operating EBITDA ₹1,308 Cr, PAT ₹899 Cr.

ROCE is ~28% with Net Debt at ₹1,966 Cr. **Management Commentary / Outlook:** Management expects strong cash generation and low leverage to power future expansion.

Focus remains on high-end medical procedures and capitalizing on India's growing medical tourism market.