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Max India LimitedMax India Limited
I t P t tiInvestor PresentationJuly 2012
1
BSE Scrip Code: 500271, NSE Ticker: MAX, Bloomberg: MAX:INwww.maxindia.com
MAX GROUP - OVERVIEW
2
www.maxindia.com
The vision at Max India“Most admired corporate for service excellence”
M lti b i t F d l d i
“ IN THE BUSINESS OF LIFE ”
Multi-business corporate Focused on people and service
Life InsuranceProtecting Life
HealthcareCaring for Life
Health InsuranceEnhancing Life
Senior LivingProtecting Life Caring for Life Enhancing Life
74:26 JV with Mitsui Sumitomo;
Largest non bank lead private life insurer
74:26 JV with Life Healthcare, SA;
2,000 beds
74:26 JV with BUPA Finance Plc, UK
100% Owned;Continuing Care
Retirement Communities in Gurgaon & Dehradun
Focus on healthcare, children and the environment
Corporate Social ResponsibilityNiche high barrier polymer films & Leather
Finishing Foils
Speciality FilmsClinical Research100% owned;
486 active sites
3
A unique investment opportunity and a resilient business model
USD 1.6 bn. Revenue*.. 5 Mn Customers..14,000 Employees… 40,000 Agents..1,700 Doctors
Strong growth trajectory even in challenging times; a resilient & diversified business model
1
2Steady revenue growth and cost rationalization leads to strong financial performance
Well established board governance….internationally acclaimed domain experts inducted
3
4Diversified ownership…..marquee investor base
Superior brand recall with a proven track record of service excellence
5
6Strong history of entrepreneurship and nurturing successful business partnerships7
Pharmaceuticals Electronic Mobile Communication Plating Medical Pharmaceuticals Component Telephony Services Chemicals Transcription
HutchisonCOMSAT
ATOTECH
4* Revenue for FY12, US$ 1 = INR 55
MS&AD t i 26% t k f R 2 731 C l M Lif t R 10 504 C
Max India – Key Highlights
MS&AD Insurance Holdings acquires 26% stake in Max New York Life
• MS&AD to acquire 26% stake for Rs. 2,731 Cr., values Max Life at Rs. 10,504 Cr.• MS&AD is the 7th largest non-life Insurance company globally, with a market cap of
USD 12.6 bn and over 100 years history• MS&AD attracted by profitable growth, superior performance and increasing market
share of Max Life• Max India receives a net cash flow of Rs 802 Cr (pre-tax)Max India receives a net cash flow of Rs. 802 Cr. (pre tax)• Operating Revenue grows 15% to Rs. 7,648 Cr & Net Profit grows 18x to Rs. 155 Cr.
Max Life profit more than d bl
• Embedded Value at Rs. 3,684 Cr., grows 15% y-o-y• Shareholder Profit for FY12 at Rs. 460 Cr., grows 137% y-o-y
G i 1 1% k t h t i t lif i f 7 5% i FY11 t 8 6% idoubles
Max Healthcare commences Dehradun Hospital bed
• Gains 1.1% market share amongst private life insurers from 7.5% in FY11 to 8.6% inFY12. Max Life becomes the 4th largest and largest non-bank led private life insurer
• Dehradun hospital with 200 beds commences operations• Max Healthcare achieves highest ever revenue in month of Mar’12 at Rs. 85 Cr. andDehradun Hospital… bed
capacity expands to 2,000
M B l t• Gross Written Premium grows 4 times in FY12 to close to Rs. 100 Cr.
P k it l it t b b th h h ld R 690 C R 420 C l d i f d
gturns EBITDA positive within 6 months of doubling bed capacity
• Significant thrust on cost optimization and operating efficiencies
Max Bupa scales up to 100,000 lives per quarter
• Peak capital commitment by both shareholders Rs. 690 Cr., Rs. 420 Cr. already infused• Pilot project underway to capitalize on group synergies by embarking cross-selling
initiatives through Agency offices of Max Life extended to 25 offices
MSF delivers another year of • Revenue for FY12 at Rs 703 Cr grows 66% y-o-y
5
MSF delivers another year of robust performance
Revenue for FY12 at Rs. 703 Cr grows 66% y o y• EBITDA for FY12 at Rs. 77 Cr grows 50% y-o-y
Rs Cr
Consistent track record of strong growth across businesses with the group turning strong profits in the year
8000
10000Operating Revenue Trend
Rs Cr.
Rs Cr. FY 07 FY 08 FY 09 FY 10 FY’11 FY12
Operating Revenue
1,820 3,244 4,508 5,574 6,668 7,648
18203244
45085574
66687648
2000
4000
6000 Investment and Other Income
174 367 383 2,087 1,223 914
Total Revenue 1,994 3,611 4,891 7,661 7,891 8,562
Expenses 2,065 3,671 5,224 7,747 7,859 8,3201820
0FY 07 FY 08 FY 09 FY10 FY11 FY12
FY 07 FY 08 FY 09 FY 10 FY11 Mar 31,
Profit / (Loss) before Tax
(71) (60) (333) (86) 32 242
Profitability Trend
Rs Cr.
FY 07 FY 08 FY 09 FY 10 FY11 ,2012
Net Worth 591 1,537 1,312 1,993 1,944 2,513
Loan Funds 559 552 347 440 507 549
242
0
100
200
300Profitability Trend
Net Fixed Assets
628 718 930 965 1,017 1,256
Treasury Corpus
285 1,261 413 909 540 397
(71) (60)
(333)(86)
32
-400
-300
-200
-100
6
Life Ins. AUM 1,835 3,575 5,405 10,121 13,836 17,215FY 07 FY 08 FY 09 FY10 FY11 FY12
Growth potential recognized by the market….high pedigree investor base
Others
Shareholding Patternas on March 31, 2012
• Reliance MF• Fidelity• Blackrock• DSP Blackrock
Shareholding Concentrated
Promoter37.0%
Others12.1%
• Temasek• First State• Matthews• Morgan Stanley• Birla Sunlife Ins.
Concentrated with Marquee
InvestorsIFC
3 9%
FII (Others)25.6%
3.9%Warburg Pincus*
5.8%
Goldman Sachs15.6%
Number of outstanding shares : 26.5 Cr.
7* Warburg Pincus does not have a shareholding in Max India as of date.
MAX LIFE INSURANCE COMPANY (Max Life)
8
www.maxnewyorklife.com
2010 has been a turbulent year marked by unprecedented regulations
Regulations increase customer valueThe IRDA regulations were unprecedented in their intensity and pace of implementation…
Regulations increase customer value proposition significantly; to benefit insurers over long-term; short-term profitability adversely impacted
Regulations will increase customer returns, enhance cover multiples, improve persistency
Country Cap on Charges1
Cap on surrendercharges
Minimum sum
assured
Minimum lock-inperiod
Minimum guaranteed
return2
p p y
Focus of insurers will shift to distribution rationalization, traditional products, customer retention, cost
India
China p
management and profitability
Productive sales force, customer centricity, persistency and cost ffi i t b th k
China
UK
(effective
2012)
Insurers need to re-align and reshape their
efficiency to be the key success factors
Industry orientation will shift towards long-
US
9Source: IRDA website, Macquarie Report, Press & Media research
1. Includes allocation, fund management and other charges2 Only for pension products;
business model completely to achieve their long-term objectives
term savings and protection from investment centricity
Max Life has taken a lead by re-aligning its strategy across key levers of success
From… …toElements
Investment oriented with lower margins
LTSP oriented with a bias towards traditional products with higher
margins
Product andsales margins
Mass + Mass Affluent + Customersegment
margins
Hybrid High-quality, productivewith lower cost to sales
Agency practices
Statutory profits from FY11Statutory Losses Statutory profits from FY11 (Cost break even by FY14)Profitability
Top quartile player in the industry Further enhanced focus to create a new benchmark for the industryPersistency a new benchmark for the industry
Capital Investment Capital PaybackCapital utilization
10
Source of competitive advantage
The Essence of our chosen StrategySources of competitive advantageTo be the most admired life insurance Our objective
company in India with sharp focus on financial metrics
”Build a robust multi-channel distribution
To serve the long-term savings and protection needs of mass affluent+
customers through a high quality agency supplemented by our privileged
Our approach architecture while Max Life’s proprietary high
quality agency will remain the core
distribution channel.”bancassurance partnership
RECREATE GROW TURBOCHARGE OPPORTUNISTIC REDUCE
Key choices
High quality “platinum standard” agency that we were kno n for
Privileged banc-assurance relationship with Axis Bank
Product development process
Change
New PD deals
Group business
Discover growth options for the
Cost
– Driving cost management
Lo eringknown for Enter another bancassurance arrangement
gmanagement and governance
Persistency management
options for the future
– Lowering costs of agency
11
Max Life successfully shifts to traditional products while major players continue to be ULIP heavy
ULIP:Trad Product MixFY11 FY12
55%
43%
45%
57%
Bajaj Allianz
MNYL
35%
12%
65%
88%
80%
70%
70%
20%
30%
30%
ICICI Pru
Birla Sunlife
Kotak Life
ULIP
Trad.65%
45%
50%
35%
55%
50%
86%
85%
80%
14%
15%
20%
HDFC Life
SBI Life
ICICI Pru
56%
60%
65%
44%
40%
35%
• Most insurers have shifted their product portfolios in favor of traditional products
12SOURCE: News Reports, Quarterly Public Disclosures (in case of ICICI Prudential & Bajaj Allianz) and Market Intelligence
Agency productivity shows visible signs of improvement, while industry suffers…
Apr ‘11 Mar’12Apr ‘11 – Mar’12
FY 12 Agency FYP Growth
Average Agent Case Rate
Average Agent Productivity
Average Branch Productivity
Insurer % # YoY Growth % ` 000s YoY Growth
% ` Lakhs YoY Growth %% % %
Max Life ‐35% 0.57 ‐8% 15 3% 27 26%SBI Life* ‐33% 0.53 ‐19% 17 ‐43% 23 ‐41%Reliance Life ‐43% 0.31 4% 5 ‐29% 6 ‐43%Bajaj Allianz ‐16% 0 30 ‐10% 6 ‐5% 10 ‐9%Bajaj Allianz 16% 0.30 10% 6 5% 10 9%Birla Sunlife ‐28% 0.28 ‐5% 5 ‐21% 11 ‐30%Metlife 0% 0.27 52% 10 96% 12 0%Kotak Life ‐32% 0.25 ‐6% 7 ‐13% 11 ‐30%HDFC Life 46% 0 23 2% 4 26% 10 39%HDFC Life ‐46% 0.23 2% 4 ‐26% 10 ‐39%ICICI Prudential ‐40% 0.23 ‐11% 8 ‐13% 10 ‐15%Tata AIG ‐39% 0.17 ‐5% 6 14% 12 ‐23%
* SBI Life's high agent and branch productivity is also due to high single premium sales
Aggressive restructuring underway at an industry level: • Focus on reducing channel inefficiency and raise productivity levels• Intensified efforts underway to retain only productive agents through incentivisation• Focus on Traditional products to improve margins• Difficulty persists in recruiting new agents owing to hike in test fees, revision of syllabus and
13SOURCE: News Reports, Quarterly Public Disclosures & Market IntelligenceNote: Agency productivity calculated using FYP (100% SP including PUA)
y p g g g , ystringent testing procedures
Average case size per agent for FY12 grows 8% to Rs 23 013 and Average case rate
Max Life well positioned for the transformation
Highly productive agency model and best in class training
Average case size per agent for FY12 grows 8% to Rs. 23,013 and Average case rateper agent maintained at 0.6
Need based insurance sales 400+ trainers on board
Comprehensive productComprehensive productportfolio with an enduring customer base
Product mix for the quarter: Par 71%, Non-par 16%, ULIP 13% Long tenor products (21 Yr) & a young customer profile (34 Yr)
Disclosures ahead of First life insurer to disclose Embedded Value; EV for FY12 at Rs. 3,684 Cr. grows15% y-o-ycompetition 15% y-o-y
Implied NBM for FY12 at 17.8%
Shareholder Profit for FY12 at Rs. 460 Cr., grows 137% y-o-y Market share gain of 110bps amongst private life insurers from 7.5% in FY11 to 8.6%
in FY12. Max Life is the 4th largest and largest non-bank led private life insurer
Other key drivers AUM at Rs. 17,215 Cr. as at Mar 31, 2012 grows 24% y-o-y Expenses of Management Ratio for FY12 at 28.7% against 34.3% for FY11 Over 3.5 million polices in-force with Sum assured of over Rs. 152,000 Cr. Business capitalized at Rs. 2,126 Cr as at Mar 31, 2012; solvency surplus of
Rs. 1,506 Cr.
Accreditations & Awards
Customer & Brand Loyalty Award 2011 Brand Excellence Award and recognition as ‘Powerbrand’ & ‘Master Brand’ CII Commendation for Business Excellence CII Six Sigma – 2nd Prize in Project of the Year Great Places to Work – 2nd best Life Insurance Co
14
Great Places to Work 2nd best Life Insurance Co. CIO 100 Award for technology implementation
MAX BUPA HEALTH INSURANCE (Max Bupa)
15
www.maxbupa.in
A symbiotic partnership in the health insurance space
India’s leading conglomerate L t i d d t h lth• India’s leading conglomerate• Successful track record of
building businesses • Expertise in life insurance,
• Largest independent health insurance provider in UK
• 11 million customers in over 190 countriesExpertise in life insurance,
health insurance and healthcare businesses
• Group revenues in FY 2012 –Rs 8 562 crores
• Group revenues in 2011 - £8 billion and PBT of £559 million
• Employee base of over 52,000 Rs 8,562 crores
• Local perspective of the Indian market
• Culture of service excellence
• Recently voted as best international health care provider
Leveraging the strengths of both partners to build a robust and profitable
16
Leveraging the strengths of both partners to build a robust and profitable enterprise with focus on service excellence
Industry is poised for an exponential growth
Key drivers of growth
▪ Increase in affordability– Increasing affordability with rise
i i l l d h lth305
351404
464
350400450500
Bill
ion)
Indian Health Insurance Market (Rs. In Billion)
in income levels and healthcare spend per capita
▪ Increase in willingness– Rapid scale-up of hospitals and
i t id t 22 3251 66 83 111
134160
192231
266
100150200250300350
GW
P (R
s. in
expansion outside metros– Take-off of comprehensive
insurance coverage products e.g. secondary healthcare, out-patient etc
17 22 32
050
patient etc.– Higher need with rise in
incidences of chronic diseases (viz. cancer, heart disease)
– Acceptability of insurance with
• Industry grew by 34% in 2010-11 over last year• CAGR last 5 years at 38%• Expected CAGR of 25% for next 5-10 years
p yincreasing awareness
▪ Increase in ticket size– Rise in healthcare costs with
market inflation
• Share of Health segment in overall GI increased to 26%from 22% last year• Standalone health insurers growing aggressively
17SOURCE: Team analysis, WHO statistics, NCAER, McKinsey Urbanisation report, Government economic survey 2007-08, interviews
Relationship
Max Bupa to capitalise on this opportunity through innovative product and superior service offering
Good Hospitalization
experience:Cashless processing;
Simplicity, Transparency:Hassle free claim processing; No Comprehensive
Relationship Manager for
Gold & PlatinumCustomersTechnology &
t ti Cashless processing; No TPA
processing; No underwriting at point
of claim
pbenefitsautomation
ahead of curve
Value for money: Comprehensive benefits for the
money paid
Support for Family’s health
Access to information
Checkups on renewal
Health and wellness focus
Health Coach (2011 onwards)
information24/7 health line
18
Extensive focus on key growth levers to maximize long-term value
• Max India has a strong understanding of Indian Insurancelandscape
• Effectively implement learning's from Max Life’s success• Leverage synergies with Max Life and MHC
Leveraging Max India capabilities
Factsheet* – Max Bupa
Leverage synergies with Max Life and MHC
• Product design opportunities• Underwriting and clinical expertise
Leveraging Bupa capabilities Gross Written Income INR 99 Cr.
Customer Base 239 000
• Value based pricing based on data and analysis• Selective targeting of profitable Group business
Pricing for profitabilityCustomer Base 239,000
Number of Employees 850+
• Build a culture of innovation and expertise.• Focus on wellness and specialized products with no age limit and
high sum assured• Fixed benefit product filed with IRDA completes the bouquet of
Continuous product innovationNumber of Agents 6,400+
• Fixed benefit product filed with IRDA, completes the bouquet ofproducts
• Focus on the mass affluent+ customer base
Superior customer profile
Number of Offices 11
Partner Hospitals 1,200+
19
• Robust underwriting procedure
* For the year ended March 31, 2012
MAX HEALTHCARE (MHC)
20
www.maxhealthcare.in
Indian healthcare industry poised for exponential growth
KEY HIGHLIGHTS• Indian Health Industry is poised to double to USD 125 bn by 2015E, driven by a combination of ageing population, growing
lifestyle diseases and medical insurance penetration as well as increasing ability to afford quality healthcare.
• Realization of latent demand through growth in insurance & consumer education likely to be a key growth driver
• Private hospitals to contribute USD 45 Bn by 2012
• Share of top tier private hospitals (>100 beds) is expected to grow to 40% of the total hospital segment by 2015
• Specialty hospitals are estimated to grow faster than overall industry due to rise in lifestyle diseases
21Sources: Research on India Report , 2010, Healthcare India Report, Fitch Ratings, 2010, FICCI E&Y Report, 2008
• Specialty hospitals are estimated to grow faster than overall industry due to rise in lifestyle diseases
• India needs an investment of USD 86 Bn by 2025 to increase bed density to 2 per 1,000 population
Growing Health Insurance Market...
Increasing prevalence and propensity are key market drivers
Comparative medical cost
11160
80
100
120
billion
g
100
48
65
Comparative medical cost
India UK US
’000
s)
14 17 22 3251
6684
0
20
40
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11
Rs
8.5 7 4.5 9.8
3224
6.419.218
Open Heart Knee replacement Lap Cholcystectomy Obesity Surgery
(US
D
Rising health insurance penetration will make healthcare affordable
Cost differentials provide a huge untapped market for medical tourism related business opportunities
International Healthcare Expenditure (as a % of GDP) Per Capita Spending (PPP)
2.9
3.4
1.2
3.3
4.2
3.6
Mexico
Brazil
India
PublicP i
7285
2992
8632000
4000
6000
8000
6.8
6.4
8.4
3.1
0 5 10 15 20
US
Australia Private233
837109
863
0
2000
China Brazil India USA UK Global
China Brazil India USA UK Global
22Sources: FICCI & E&Y Report, 2007, IRDA, B&K report, 2009, Crisil, Research on India Report, 2010
On a per capita basis , both in terms of USD and PPP, India’s Healthcare spend is amongst the lowest globally. However India'shealthcare spending is growing at a healthy CAGR of 14%, rising from 5.5 % of GDP (2009) to 8% (2012)
MHC, with its unique model* is well positioned to deliver high quality of care to patients
Quaternary /Tertiary Care- Max Super Speciality Hospitals – Saket - Max Super Speciality Hospital – Patparganj- Max Super Speciality Hospital – Mohali- Max Super Speciality Hospital – Bhatinda
•Organ Transplant•Neurosciences•Oncology•Cardiac CareMi i ll I i & M t b li SMax Super Speciality Hospital Bhatinda
- Max Super Speciality Hospital – Shalimar Bagh-Max Super Specialty Hospital – Dehradun
Secondary CareSecondary Care
•Minimally Invasive & Metabolic Surgery•Joint Replacement and Orthopedics•Aesthetics and Reconstructive surgery
•Medicine & Allied SpecialtiesMother and Child
Max Hospitals – 3Specialty Centre – 2
•Mother and Child•High-end diagnostics•Infertility and IVF•Eye and Dental care
Primary CareClinics / Implants – 10
•PHP•Specialist doctor consult•Basic diagnostics like pathology collection
•Home Care
• Max Super Specialty Hospitals, SaketM S S i lt H it l P t jNABH & NABL
23
• Max Super Specialty Hospital, Patparganj• Max Hospital, Gurgaon
NABH & NABL Accreditations
*The above model is for MHC’s Network of hospitals and includes Max Super Speciality Hospital , Saket, unit of Devki Devi Foundationand Max Super Speciality Hospital, Patparganj, unit of Balaji Medical and Diagnostic Research Centre
Comprehensive and integrated healthcare services
Extensive focus on service excellence –a key strength for MHC
• Complete service profile, cutting edge technology and state of the art infrastructure• North India centric strategy allows leveraging of medical capabilities
Comprehensive and integrated healthcare services
Well established brand name throughout India• Patient centric healthcare delivery model with focus on highest quality of care• High operational and clinical efficiency• Won numerous accolades including accreditations by the NABH, NABL and awards by FICCI• Comprehensive range of services offer primary, secondary, tertiary and quaternary care
Well established brand name throughout India
•Team of 1,700 doctors complemented by 2,200 nurses and 840 other trained medical personnel*
Network of highly respected and leading specialists
Transitions from Tertiary to Quaternary Care• Foray into Stem cells – state of the art Stem Cell Lab being setup in Gurgaon hospital and service profile
enhanced to include Organ Transplant• Revolutionary change in healthcare operations by introducing Electronic Health Records (EHR)• Centres of excellence in cardiac, minimal access, metabolic and bariatric, orthopedics & joint replacement,
neurosciences pediatrics obstetrics & gynecology oncology and aesthetic & reconstructive surgery
Transitions from Tertiary to Quaternary Care
neurosciences, pediatrics, obstetrics & gynecology, oncology and aesthetic & reconstructive surgery • Research focus- Only centre in Indian subcontinent to conduct basic research in the field of diabetic and
cardiology genetics in collaboration with Imperial College, London
Extensive emphasis on medical training and education
24
• DNB (Diplomate of National Board) & fellowship programs• High quality nursing and paramedic care supported by nursing and paramedic college
*As on March 31, 2012
MHC delivering superior performance across all key metric
56.5%57.2%
59.2% 59.7%
57 0%
59.0%
61.0%
63.0%
600
750
Revenue and Contribution Margin
1554018914 19433
20431 21558 23585
18000
23000
28000
800
1000
1200
Avg. operational beds and Avg. revenue per occupied bed day*
245 372 423 534 685 824
51.5%53.1%
49 0%
51.0%
53.0%
55.0%
57.0%
0
150
300
450
610 662 712 751926 992
15540
2000
3000
8000
13000
18000
0
200
400
600
800
49.0%0FY 07 FY 08 FY 09 FY10 FY11 FY12
Revenue (Rs cr) Contribution Margin
-20000FY 07 FY 08 FY 09 FY10 FY11 FY12
Avg. operational beds Avg Revenue per bed day (Rs)
Inpatient Trends Outpatient Trends
64335 69375
5375164785 64390 68806
7683884635
60000
80000
100000
45000
60000
75000Inpatient Trends
2906 3103
432 446 493565 594
676
350
500
650
800
1500
2000
2500
3000
3500Outpatient Trends
3667146532 51103 59130 64335 69375
0
20000
40000
0
15000
30000
FY 07 FY 08 FY 09 FY10 FY11 FY12
11051593 1900 2250
2906 3103
-100
50
200
0
500
1000
1500
FY 07 FY 08 FY 09 FY10 FY11 FY12
25
Inpatient Transactions Avg. revenue per patient (Rs) Outpatient transactions (000's) Avg. revenue per patient (Rs)
*Average revenue per occupied bed day has been calculated on inpatient revenue
MAX NEEMAN MEDICAL INTERNATIONAL (MNMI)
26
www.neeman-medical.com
Growth of the Clinical Trial Industry in India
India is one of the fastest growing clinical research destinations
# f i d t d t i l i iti t d i 2008
250
300
350
Growth of the Clinical Trial Industry in India # of industry sponsored trials initiated in 2008
150 160 175
250300
100
150
200
US$
Million
199
115172
137
56129 157
212154
243
orea
hina
ndia
ania
nes
wan
gary
ssia
azil
and
100 120150
0
50
2004 2005 2006 2007 2008 2009E 2010E
K G h D i f Cli i l R h i I di
Ko Ch In
Rom
a
Phili
ppin
Taiw
Hun
g
Rus Bra
Pola
Key Growth Drivers of Clinical Research in India• Clinical research trials in India have exhibited a CAGR of 39% between 2004 & 2008
• Large patient population base with genetic and therapeutic diversity
• Cost arbitrage
• Huge talent pool
• Data processing infrastructure for bio-informatics
As per FICCI - Ernst and Young Survey Report 2008 and market information
p g
• Favorable patent regulations
27
MNMI: A comprehensive service offering
• Full service contract research organization (CRO) with focus on Phase II, III & IV trails
• Service offerings include: Project management, Site management, Data management, including, bio-
statistics and report writing, monitoring services and supply chain managementO d b k f R 30 C t M ’12 d
Key Highlights Marquee Clients
• Order book of Rs. 30 Cr. as at Mar’12 end• Business Development efforts focused on medium/small-sized biotech & pharma companies
Key Highlights
•Revenue for FY12 at Rs. 28 Cr.
• Profit after Tax for FY12 at Rs. 2 Cr
Marquee Clients
•Patient retention rate at 92%
•5 successful US FDA GCP audits
• Client base stands at 97
•Database of around 1,800 GCP/ICH trained investigators
•62% of employees out of 359 are physicians
28
•Presence in around 486 sites MNMI operations
MAX SPECIALITY FILMS (MSF)
29
www.maxspecialityfilms.com
Industry marked by robust global and domestic demand
BOPP Global Demand and Supply
6480 6750 7130 7500 7900
77% 76% 77% 77% 78%
60%
80%
100%
6000
8000
10000
(KTA
)
4950 5150 5500 5800 63000%
20%
40%
0
2000
4000
2007 2008 2009 2010 20112007 2008 2009 2010 2011
Capacity Production Utilization
Key Highlights•Growth of flexible packaging Industry ~ 17-18% in India and 7 - 8% globally
•Per capita consumption of BOPP in India relatively lower
•Growth in FMCG and organized retail and changing urban life styles & rural demand.
•Competitive pricing and costs spurs exports from India and restricts imports.
•Shift from PET to BOPP (Indian BOPP:PET products ratio around 1:2 against 3:1 globally)
•BOPP films are recyclable and have a competitive advantage over other plastic and traditional products
30* Surplus absorbed by industry exports, given cost & productivity edge; Source- EY Analysis , AMI BOPP Report-2010
•Convertor industry growing & India becoming global hub for supplies of Flexible Laminates
With MSF uniquely positioned to create value
Commodity Speciality(Preferred)
MetallisedFilms Coated Films Foils
End UsePackaging,Industrial,
Textiles
Packaging,Lamination
Packaging,Lamination,Industrial,
Packaging, Industrial
Lifestyle,Apparels
Ma Specialit Films is m ch more than packagingOur Focus
Max Speciality Films is much more than packaging… Manufacturer of niche (high margin) and high barrier speciality polymer films
Pioneer in introduction of value added products/technology in India
Value added products account for 60-70% of total sales
Customer Base in India / Exports
New product development – 6 to 8 per year
31
New product development 6 to 8 per year
Long term relationship with blue chip customers; Preferred Vendor
Visibility in Top Brands
You will FindYou will Find MSF films in…
32
Capacity Utilization
Backed by consistent performance
• All BOPP lines are operating close to 100% utilization ; Capacity 52,000 tpa
Capacity Utilization
New Product Development• Special Films developed for Pepsi’s ‘Aliva’ & Cadbury’s Silk
p
Performance• Revenue of Rs. 703 Cr. and PBT of Rs. 38 Cr in FY12• EBIDTA for FY12. at Rs. 77 Cr., grows 50% y-o-y• Most efficient producer with highest ROCE.• Higher margin realizations due to better product mix
• MSF wins Golden Peacock Innovative Product Award 2011 for creating new Cadbury Gems Pack
• Awarded with Worldstar 2010 Packaging Excellence for the BoPP packaging film developed
Awards
Awarded with Worldstar 2010 Packaging Excellence for the BoPP packaging film developed for Reckitt & Benckiser, South Africa
• India Star Awards acknowledges MSF’s leadership in packaging innovations - Won Award for 6 products
• Award for Energy Conservation from Ministry of Power, Govt. of India • Punjab State Safety award to workmen by Punjab Government
33
• Punjab State Safety award to workmen by Punjab Government• International “Quality Crown” from B.I.D. Spain
MAX INDIA FOUNDATION (MIF)
34
www.maxindiafoundation.org
MAX INDIA FOUNDATIONMaking a difference… to life
Factsheet* – MIF
Locations 295
Max India Foundation
• Corporate Social Responsibility (CSR) Arm of theM I di G ith f H lth Child Locations 295
NGO Partners 276
Max India Group with a focus on Health, Children& Environment
• Provides on Select Basis Treatment and Care forthose Below the Poverty Line, the Needy and
Beneficiaries 178,051
• Immunization• Artificial Limbs & Polio
Deserving across India• Awarded with prestigious Golden Peacock Award
for Corporate and Social Responsibility 2010 and2012 and Blue Dart Global CSR award 2012 for
Initiatives
Callipers• Health Camps• Surgeries & Treatment
overall practice.
• Palliative Care• Lifeline Express Camps• Multi-speciality Camp• Cancer Awareness
35
• Cancer Awareness• Environment Awareness
* Since July 2008 till March, 2012
Thank You
36
Road Map to Becoming India’s Most Admired Life Insurance Company
Key Public MessagesKey Public MessagesKey Public MessagesKey Public Messages
A trusted life insurance specialist Customer centric Financially responsible and strong A great place to work An admired member of the community
VISIONVISION Become the most admired Life Insurance Company in India
MISSIONMISSION
Part of top quartile newLife Insurance Companies National Player Brand of FIRST choice
An admired member of the community
KEY KEY WHAT –Comprehensive suite ofproducts, competitive pricing, extensive distribution, persistency customer service excellence
Employer of Choice Principal of Choice for AgentsKey DifferentiatorsKey Differentiators
Financial Strength & Security Quality of agents Flexible Products
OBJECTIVESOBJECTIVES
STRATEGIESSTRATEGIES
persistency, customer service excellence, profitable portfolios
HOW –TalentedPeople, Professional & Productive Agents, Performance Metrics, Leverage Technology, Teamwork, Customer Centric Innovative Distribution and Marketing
e b e oduc s Service Excellence Fair Terms of Business
Customer Centric, Innovative Distribution and Marketing
INITIATIVESINITIATIVES What-When-Who-How-Cost linkage plans at Departmental and Individual levels
VALUES & BELIEFS OPERATING PRINCIPLES METRICS & PERFORMANCE
Excellence Honesty Knowledge Caring Integrity
VALUES & BELIEFSSTANDARDS MGMT PROCESS Customer comes first
International quality standards Do it right the first time Fact based decisions Bias for result oriented action Financial strength & discipline
Input Output External Internal
Ab l t
GMPR Ratings TEC/TTR – Templates Primary, Shared and
ContributoryB l d dIntegrity
TeamworkFinancial strength & discipline
Direct and open communication Respect Max & NYLI values & parentage Fun at work
Absolute Ratios
Balanced scorecard Core, Functional and
Leadership Competencies
37
Long-term Savings and Protection Oriented Product PortfolioPROPORTION OF POLICIES (% b
PRODUCT TYPE Tenure (Y )
Age of Insured(Y )
33
3218.91WHOLE LIFE
POLICIES (%, by number)
(Years) (Years)
44
17
34
33
1.26TERM 25
ENDOWMENT 23.3317
0.17DEFERRED ANNUITY
6.87MONEY BACK
17
3115
40
UNIT LINKED 48.20
31
3615
15
HEALTH 0.87 14 38
GUARANTEED INCOME
0.39 4519
21 34Max Life Average Max Life Average
As on 31st Mar, 2012
INCOME
Market Position Insurance Sales
S. No. Company Individual New Business Premium (Rs. Cr) Premium Adjusted for 10% single premium
YTD Mar 12 YTD Mar 11 Growth (%) Market Share
1 ICICI Prudential 2,818 3,685 -24% 16.1%2 HDFC Life 2,714 2,965 -8% 15.5%3 SBI Life 2,108 3,045 -31% 12.0%4 Max Life 1,506 1,724 -13% 8.6%
1 309 1 887 31% 7 5%5 Bajaj Allianz 1,309 1,887 -31% 7.5%6 Birla Sunlife 1,179 1,600 -26% 6.7%7 Reliance Life 1,103 2,011 -45% 6.3%8 Tata AIG 610 952 -36% 3 5%8 Tata AIG 610 952 36% 3.5%9 ING Vysya 607 635 -4% 3.5%
10 Metlife 503 507 -1% 2.9%
Others 3,057 4,013 -24%Private Total 17,514 23,023 -24%LIC 30,420 27,346 11%Grand Total 47,934 50,368 -5%M k t Sh f P t
39
Market Share of Pvt. Players 36.5% 45.7%
Source: IRDA website
Max Life – Embedded Value
Amount in Rs. Crore
Non
419 7693Cost
102 3,684
March 31, 2012
Value of New
Unwind of Discount
Other Operating Variance
Non Operating Variance
168
3,216
Cost Overrun*
1 973Business
Implied NBM** is 17.8% on APE*
2,0751,973
17.8% on APE(19.5% in 2010-11)
1,141 1,711
Opening EV Closing EV
Denotes increase to EV Net Worth
40
Denotes decrease to EV* Cost Over-run includes over-runs that are relevant to Embedded Value**VNB includes shareholders’ interest in the residual estate from participating business aggregating Rs. 24 Cr. Implied NBM is on a structural basis.***APE – Adjusted Premium Equivalent (Annualized First Year Premium adjusted for 10% of Single Premium & 50% of Limited Pay Products)
Value of In-force business
Max Life – Key Assumptions to Embedded Value
Economic AssumptionsEconomic Assumptions
Particulars Assumptions
Cash / Money Market / TB 8.27%
G Secs 8.76%
Corporate Bonds 9.46%
Equities 13.00%
Unit Linked Fund Growth Rate 10.50%
Interest Rate on Non-Unit Reserves 8.25%
Inflation 6.50%
Risk Discount Rate 13.00 %
Service Tax 12.36%
13 52% (12 5%+ 5% surcharge + 3%
For change in risk discount rate by 1%, the value of in-force business would change by 4-5%
Sensitivity
Tax rate 13.52% (12.5%+ 5% surcharge + 3% education cess)
For change in risk discount rate by 1%, the value of in force business would change by 4 5%
Operating assumptions like mortality, morbidity and lapses are based on our own experience andvalidated with industry / reinsurers experience
Operating Assumptions
41
Expense assumptions are based on our own expense projection model. Basis our currentexpansion strategy, our expense break even happens in FY 13-14
Max Life – Basis of Preparationsfor Embedded Value
Max Life’s EV guided by European Embedded Value principles
“Top down” allowance for risk including allowance for time value of financialoptions and guarantees
Explicit allowance for cost of capital where capital is the higher of the requiredsolvency margin and internal capital requirements
Actuarial assumptions based on past experience and on management’s views offuture trends in experience
Results not audited nor subject to external review but the EV methodology is inline with accepted international practices
42
New Business Growth – Adjusted FYP 1 and
Track record of strong performanceRenewal premium and conservation ratio 2
10,121
13836
17215
15000
20000
1500
2000
jAUM
78%83% 82% 83% 81% 81%
90%
30003500400045005000
p
7691308
1595 1584 1724 15061835
35755405
0
5000
10000
0
500
1000
588 1117 2014 3011 3751 448930%
60%
0500
1000150020002500
FY 07 FY 08 FY 09 FY10 FY11 FY12
AFYP (Rs cr) AUM (Rs cr)
FY 07 FY 08 FY 09 FY10 FY11 FY12
Renewal Premium (Rs cr) Conservation Ratio
4000180
In force business and No. of policies120%
Distribution Mix
1751
25782985
3368 3516
2000
2500
3000
3500
4000
80100120140160180
14%77% 67% 75% 71%50%
36%
60%
80%
100%
120%
4570
94 123 155 152
10981751
0
500
1000
1500
020406080
FY 07 FY 08 FY 09 FY10 FY11 FY120% 2% 1% 3% 6% 9%5% 6% 3% 4%
23%41%
18%25%
22% 22%
22%
0%
20%
40%
FY07 FY08 FY09 FY10 FY11 FY12
43
Sum Asssured (Rs 000's cr) Policies '000
1. Individual First Year Premium adjusted for 10% single pay2. Conservation ratio = Renewal premium for the current period / (First Year + Renewal Premium for the previous period)
Group Bancassurance Partnership Distribution Own Channel
K B i D i U it Quarter Ended Y Y Year Ended Y Y
Max Life InsuranceKey Business Drivers Unit Quarter Ended Y-o-Y
Growth
Year Ended Y-o-Y Growth Mar-12 Mar-11 Mar-12 Mar-11
a) Gross written premium income Rs. Crore
First year premium 512 480 7% 1 551 1 775 13%First year premium 512 480 7% 1,551 1,775 -13%
Renewal premium 1,301 1,103 18% 4,489 3,751 20%
Single premium 107 99 8% 350 286 22%
Total 1 921 1 682 14% 6 391 5 813 10%Total 1,921 1,682 14% 6,391 5,813 10%
b) Shareholder Profit Rs. Crore 121 206 -39% 460 194 137%
c) Expenses of Management % 27.4% 31.6% 28.7% 34.3%
d) Individual Adjusted Premium (APE*) Rs Crore 480 472 2% 1 506 1 724 (13)%d) Individual Adjusted Premium (APE ) Rs. Crore 480 472 2% 1,506 1,724 (13)%
e) Conservation ratio** % 82% 82% 81% 81%
f) Average case size Rs. 24,893 21,681 15% 23,013 21,239 8%
g) Case rate per agent per month No 0 60 0 66 -9% 0 58 0 61 -5%g) Case rate per agent per month No. 0.60 0.66 -9% 0.58 0.61 -5%
h) Number of agents No. 35,379 43,692 -19%
i) Paid up Capital Rs. Crore 2,126 1,976 8%
j) Individual Policies in force No Lacs 35 33 4%j) Individual Policies in force No. Lacs 35 33 4%
k) Assets Under Management Rs. Crore 17,215 13,836 24%
*Individual First Year Premium adjusted for 10% single pay **Conservation Ratio = Renewal Premium for the current period / (First Year + Renewal Premium for the previous period) 44
MHC – Vision / Mission
B ild T tPASSIONK Diff ti t
VISIONDeliver international class healthcare with a total service focus, by creating an institution committed to the highest standards of medical & service excellence, patient care, scientific knowledge, research and medical education.
• Create exceptional standards of Medical & Service Excellence• Care provider of FIRST CHOICE• Principal Choice for Physicians
Build TrustPASSIONKey Differentiators Focused NCR centric delivery – for operational excellence Leadership in 5 super-specialties in tertiary care
- ‘Star’ physicians supported by a group of high quality physicians Ethics Memorable brand experience
- ‘Star’ and quality physiciansMISSION
GOALS • Profitable without profiteering.• Seamless linkage between secondary and tertiary care.
• Principal Choice for Physicians• Ethical Practices • Create International Centre of Excellence for select Super Specialties.• Safety – Patient, Customer, Staff
Star and quality physicians- Infrastructure and equipment- No surprises – cost of care, pricing, medication- Signage- Look – feel – smell - touch
High quality nursing and paramedic care supported by nursing and paramedic college
KEY OBJECTIVES
STRATEGIES
WHAT –Medical USP’s ; Best in class ; Comprehensive care ; Convenience & accessibility ; Seamless service ; Patient records ; Consistent and customised care ; Service excellence ; Preventive health ; Caring place to work.
HOW –Train train train ; Partnership with Medical community ; Principalchoicefor physicians ; Never ending focus on medical and service excellence ; Build lasting customer relationships ;No franchising.
• WHAT- HOW - WHEN - COST - LINKAGE
Technology and IT
VALUES & BELIEFS OPERATING PRINCIPLESMETRICS &
STANDARDSPERFORMANCEMGMT PROCESS
INITIATIVESWHAT- HOW - WHEN - COST - LINKAGE
• Shared responsibility with single accountability.• Unique approach through: - International benchmarking. - Walk the Talk - IT Capability- Medical – Management Alignment. - Rehearse rehearse - Cost Efficiency- Train train train. - Mystery customers - Attrition Management
Key Public Messages Medical Excellence Service Excellence – Total Experience In your community - near you STANDARDS MGMT PROCESS
• Competence rating• Potential analysis• PSC model• Balanced scorecard• Performance / Risk linked
reward.
• Caring • Excellence• Integrity• - Personal• - Professional• Accountability• Openness/Transparency
• Courtesy & Caring always• Customer comes first• Do it right first time• International image standards• Direct & open communications • Create trust• Compliance• Fun at work
• JCIA Accreditation • ISO 9001 : 2000• Integrated Management System• Credentialing / Grant ofprivileges• Employee productivity• Employee Engagement survey• Service Dashboard - Sparsh
In your community near you High-end tertiary care in Private sector Comprehensiveness Referral system – National & International Value for money
45
p p y• Teamwork• Win-win partnerships
• Fun at work• Reward & Recognition
Service Dashboard - Sparsh• NABH/NABL Accreditation• Adverse event Measurement.
Corporate Social Responsibility
Padma Shri Dr. Rustom Phiroze Soonawala Eminent and Internationally renowned Obstetrician & Gynaecologist
MHC – Key Physicians
MD, FRCS, FRCOG
Chairman, Obstetrics & Gynaecology
Eminent and Internationally renowned Obstetrician & Gynaecologist.
Former President of the Federation of Obstetricians and Gynaecologists
Padma Shri Dr. Pradeep K Chowbey
MBBS, MS, FIMSA, FAIS, FICS, FACS,
Prior to joining MHC, he was Chairman of the Minimal Access Metabolic & Bariatric surgery
center, Sir Ganga Ram Hospital. He has been visiting faculty to the best Medical Institutions like
Doctor of Science (Honoris Causa)
Chief- Surgery & Allied Surgical Specialties
Director - Minimal Access, Metabolic & Bariatric Surgery
Memorial Sloan Kettering Cancer Hospital, NewYork, John Hopkins Institute in USA & Royal
Marsden Cancer Hospital, in U.K. Dr. Chowbey has done his MBBS followed by MS, General
Surgery(1977) from Govt. Medical College, Jabalpur & MNAMS, National board of Examination.
Dr. S.K.S. Marya (M.S., DNB, Mch, FICS) Renowned Joint Replacement Surgeon having 30 years experience.y ( , , , )
Chairman - Orthopaedics & Joint Replacement and
Associate Medical Director
p g g y p
Pioneered bilateral Hip and Knee Joint replacement.
Author and teacher par excellence.
Dr. Shakir Husain Former Consultant & Interventional Neurologist at Ganga Ram Hospital
He is a visiting professor to the University of Ulm Germany and BSMMU Dhaka has beenMD, DM, FINR (Switzerland)
Director – Interventional & Sr. Consultant Neurology
He is a visiting professor to the University of Ulm, Germany and BSMMU, Dhaka has been
closely involved in the development of comprehensive Stroke and Neuro intervention centers
in the Asia-Pacific region
Dr. Rana Patir
MS MCH (Neuro Surgery)
Renowned Neurosurgeon having 27 years experience.
Served institutions of repute like Sir Ganga Ram Hospital AIIMS Institute of NeurosciencesMS, MCH (Neuro Surgery)
Director –Neurosurgery
Served institutions of repute like Sir Ganga Ram Hospital, AIIMS, Institute of Neurosciences,
Guwahati etc.
Padamashree Dr. (Prof.) H. S. Rissam
MD, DM, FICA FCCP, FISE, FIMSA, FICC, FCSI, FICN,
FRSM MRSH
Over 30 Years Experience in Cardiology & Medicine
Former Director Medical Sciences - Batra Hospital & Medical Research Centre,
F A i t Di t E t H t I tit t & R h C t N D lhiFRSM, MRSH
Director – Clinical Cardiac Sciences & Senior
Interventional Cardiologist
Former Associate Director - Escorts Heart Institute & Research Centre, New Delhi
Former Professor of (Medicine) Cardiology Govt Medical College and SMHS group of
Hospitals Srinagar & Kashmir
46
Dr Anurag Krishna 20 years experience in Paediatric surgery complex congenital malformations
MHC – Key Physicians
Dr. Anurag Krishna
MS, MCh., FAMS
Director, Paediatrics and Paediatric Surgery
20 years experience in Paediatric surgery -complex congenital malformations
Published 50 scientific papers in leading national and international journals
Served as Member of the Board of Management of Sir Ganga Ram Hospital.
Over 25 Years Experience in treating Neuro surgery
Dr. Rajesh Garg
D.M (Neurology)
Director – Neurology
p g g y
Established the comprehensive video-EEG and EMG/EP labs, started epilepsy
monitoring and planning intra-operative monitoring at Batra Hospital
Served as a member of the Medical Audit Group, Formulary Board, and Organ
Transplantation Committee of Batra Hospital.Transplantation Committee of Batra Hospital.
Dr. Pratap Bahadur Singh
MCH
Director – Urological Sciences
President of Urological Society of India and Awarded Prestigious President Gold
Medal
Served Institute of Medical Sciences as Professor & Head Dept. of Urology
Dr. Harit Chaturvedi (MS, MCH)
Chief Consultant & Director – Surgical Oncology
Having 25 years of experience in Surgical Oncology.
Served institutions of repute like Rajiv Gandhi Cancer Institute, Indraprastha Apollo
Hospitals, Batra Hospital & Medical Research Centre, New Delhi.
Dr. Anil Kumar Anand
MD (Radiotherapy & Oncology)
S C lt t & Chi f R di ti O l
Renowned Radiotherapy Oncology Surgeon, with 26 years experience.
Affiliated with various scientific bodies i.e Association of Radiation Oncologists of
India, American Society for Therapeutic Radiation Oncology etc.
S d i tit ti f t lik PGI Ch di h B t H it l & M di lSr. Consultant & Chief – Radiation Oncology Served institutions of repute like PGI Chandigarh, Batra Hospital & Medical
Research Centre and Rajiv Gandhi Cancer Institute & Research Centre.
47
FICCI Healthcare Excellence Awards
MHC – Accreditations and Awards
FICCI Healthcare Excellence Awards(2010)
ISO 14001:2004 at Pitampura
First in North India to get NABH f MHVI & MSSH
ISO 14001:2004 at Pitampura
ISO 9001:2008 Recertification at Max Heart & Vascular Institute, Noida, Pitampura, Panchsheel
Park &Home Office
NABH for MHVI & MSSH
“MSSH, Saket has been awarded for Operational Excellence in Healthcare Delivery and MSSH PPG has been awarded for Excellence in Environment
DL Shah National Award
for Economics of Quality: Feb 2009 “Innovative Marketing
Practices”Conservation.
“Best Managed Healthcare Program
Practices
CII – IGBC (Indian Green Building Council);
Program (Health
Insurance/TPA)”
48
India International Achiever Award
CII IGBC (Indian Green Building Council); MHC receives LEED – GOLD Certification for
PPG IIExpress Healthcare Excellence
Awards (2007 – 08)
Max Healthcare*
Key Business Drivers UnitQuarter Ended Y-o-Y
Growth
Year Ended Y-o-Y Growth Mar-12 Mar-11 Mar-12 Mar-11
a) Revenue (Gross) Rs Crorea) Revenue (Gross) Rs. Crore
Inpatient Revenue 161 127 27% 587 494 19%
Day Care Revenue 8 5 55% 27 19 43%Outpatient Revenue 60 47 28% 210 172 22%Total 229 179 28% 824 685 20%Total 229 179 28% 824 685 20%
b) ProfitabilityContribution Margin Rs. Crore 136 105 29.4% 491 406 21%Contribution (%) % 59.4% 58.8% 59.7% 59.2%EBITDA Rs. Crore (4) 20 - 12 52 -76%EBITDA (%) % -1.6% 11% 1.5% 7.6%
c) Patient Transactions (No. of Procedures) No.
Inpatient Procedures 17,880 15,322 17% 69,375 64,335 8%
Day care Procedures 3,164 2,187 45% 11,314 7,651 48%y , , , ,
Outpatient Registrations 801,443 786,352 1.9% 3,103,270 2,906,651 7%
d) Average Inpatient Operational Beds No. 1,113 926 20.2% 992 926 7%
e) Average Inpatient Occupancy % 65.2% 66.6% 68.6% 67.8%f) Average Length of Stay No 3 69 3 62 2% 3 59 3 56 1%f) Average Length of Stay No. 3.69 3.62 2% 3.59 3.56 1%
g) Avg. Revenue/Occupied Bed Day (IP) Rs. 24,449 22,868 6.9% 23,585 21,558 9%
49*The above results are for MHC Network of hospitals and includes results for Max Super Specialty Hospital, Saket, unit of Devki Devi Foundation and Max Super Speciality Hospital, Patparganj, unit of Balaji Medical and Diagnostic Research Centre
MHC – Total Project Cost
E it Max India Rs 360 CrEquityCapital
Rs. 865 Crore
Max India – Rs. 360 Cr Life healthcare** – Rs. 428 Cr IFC, Washington – Rs. 50 Cr Other Foreign Investors – Rs. 20 Cr ESOPs – Rs. 6 Cr
PreferenceCapital IFC, Washington – Rs. 125Cr
Project Cost*Rs. 1,756 Crore
pRs. 125 Crore
Indian Banks and FinancialDebt Institutions Drawn – Rs. 628Cr Future (tied-up) – Rs. 102 C
Debt Funds
Rs. 730 Crore
Internal Accruals
R 36 C
50*The above project cost includes project cost for Dehradun and Phase II of Mohali and Bathinda** Life Healthcare’s total investment in MHC is Rs. 517 Cr. of which Rs. 89 Cr. used towards payment of redemption premium on IFCs
preference shares has been adjusted above
Rs. 36 Crore
MHC Tertiary Care Facility, Saket [South Delhi]
MAX DEVKI DEVI HEART & VASCULAR INSTITUTE(East & South)
MAX SUPER SPECIALITY HOSPITAL (West)(May 2006)(East & South)
( East :- December 2004, South :- February 2010) Patient beds – (East ; 207 beds) & (South ; 83 beds) 11 OTs, 2 Cardiac Catheterization Labs Tower Specialties – Cardiac Sciences, Minimal Access,
(May 2006) 184 beds (including 71 critical care beds) 7 OTs, 20 Consult Chambers Tower Specialties– Orthopedics, Neuro Sciences,
Obstetrics & Gynecology, Pediatrics and Aesthetic &pMetabolic & Bariatric Surgery, Comprehensive Oncology (Surgical, Medical and Radiation)
Nuclear Diagnostic Services Advanced CT Scan Imaging
C t li d E C d ith Ad d C di Lif
Reconstructive Surgery Brain Suite (first in Asia) and Intra Operative MRI DSA Lab (for Neuro Sciences) Emergency Services High end Radiology facilities with 64 slice Cardiac CT
51
Centralized Emergency Command with Advanced Cardiac Life Support Ambulances and Air Evacuation Service
High end Radiology facilities with 64 slice Cardiac CT
MHC Tertiary Care Facility, Patparganj [East Delhi]
PATPARGANJ BALAJI HOSPITAL (PPG I ) (May 2005)
PATPARGANJ SUPER SPECIALITY HOSPITAL (PPG II) (Feb 2010)(May 2005)
154 inpatient beds 3 OTs General Surgery & MAS Nephrology
(Feb 2010) 259 inpatient beds 7 OTs, 1 Cardiac Catheterization Labs Invasive & Non Invasive Cardiology Cardio Thoracic Vascular SurgeryNephrology
Mother and child care Plastic Surgery & Gastroenterology Other allied specialties
Cardio Thoracic Vascular Surgery Comprehensive Oncology
(Surgical, Medical and Radiation) Orthopedics & Joint Replacement Neurosciences Urology
52
Urology Critical Care & Other allied specialties Ambulatory Care
MHC Tertiary Care Facility [ North India]
Mohali (September 2011)
Bhatinda (September 2011)
142 inpatient beds and 45 Critical Care Beds 5 OTs Oncology Cardiac Sciences Orthopedics
141 inpatient beds and 42 Critical Care Beds 5 OTs Oncology Cardiac Sciences OrthopedicsOrthopedics
Neuroscience Mother and Child Care Urology ENT & Dialysis Plastic and Reconstructive Surgery
Orthopedics Neuroscience Mother and Child Care Urology ENT & Dialysis Plastic and Reconstructive Surgery
53
Plastic and Reconstructive Surgery Dentistry & Day Care
Plastic and Reconstructive Surgery Dentistry & Day Care
MHC Tertiary Care Facility [ North India]
Shalimar Bagh Dehradun (May 2012)(November 2011)
196 inpatient beds and 80 Critical Care 7 OTs Cardiology , Cathlab and Oncology
(May 2012) 166 inpatient beds and 39 Critical Care 4OTs Neurosciences Cardiac Care
Orthopedics and Neuroscience Mother and Child Care and Urology ENT and Dialysis Plastic Surgery and Reconstructive Dentistry & Day Care
Cardiac Care Orthopedics Mother and Child Internal Medicine General Surgery ENT and Dialysis
54
Ophthalmology ENT and Dialysis Eye & Dental Care
MHC Secondary Care Facility [ Suburb of Delhi ]
NOIDA (August 2002)GURGAON (July 2007) PITAMPURA (February 2002)(North Delhi)
32 inpatient beds 2 OTs Mother and child care Non-invasive cardiology
80 inpatient beds 3 OTs Orthopedics & Trauma Ophthalmology (anterior and posterior) Woman and child (including infertility)
(North Delhi) 90 inpatient beds 2 OTs Lithotripsy Mother and child care
Laparoscopic surgery Orthopedics ENT, ophthalmology Urology and nephrology Full range diagnostics
( g y) Medical & surgical intensive care Nephrology and urology Aesthetic and reconstructive surgeries General and minimally invasive surgeries PHP and OPD
Aesthetic & Reconstructive Surgery Non-invasive cardiology Physiotherapy Pediatric & Neonatal Intensive Care Full range diagnostics
55
PHP, OPD and Dentistry Pediatric & Neonatal Intensive Care Full range diagnostics PHP, OPD and Dentistry
MHC Speciality Centres – Panchsheel [South Delhi]
OPTHALMOLOGY AND DENTAL CARE (November 2005)
SPECIALIST CONSULTS AND HIGH END DIAGNOSTICS(November 2005)
Lasik, OPD and diagnostics Dental – 5 chambers Support services and offices
HIGH-END DIAGNOSTICS (August 2006)
GP and specialist consults Diagnostics Neurology (EEG and EMG) Neurology (EEG and EMG) Preventive health and chronic care Physiotherapy Minor procedures and emergencies IVF
H C
56
Home Care
MSF – Performance Snapshot
Key Business Drivers UnitQuarter Ended
Y-o-Y Growth
Year Ended Y-o-Y Growth Mar-12 Mar-11 Mar-12 Mar-11
a) Sales Quantity – BOPP Tons 12,634 8,365 51% 51,810 31,667 64%
b) Revenue* Rs. Cr. 176 119 48% 703 423 66%
c) Profitability:c) Profitability:
Contribution Margin** Rs. Cr. 31 24 32% 129 92 40%
% 18% 20% - 18% 22% -
EBITDA Rs. Cr. 21 11 81% 77 51 50%
% 12% 10% - 11% 12% -
PBT Rs. Cr. 11 7 49% 38 34 11%
% 6% 6% 5% 8%
57*Extraordinary Income of Rs. 17 Cr. in FY11 on account of settlement of GBC Litigation has not been considered above**Contribution Margin is calculated as revenue less raw material consumption, power & fuel, packing material and freight costs
70% expansion in BOPP capacity in April 11 to 52,000 tpa, running at close to 100% utilization
Disclaimer
This presentation has been prepared by Max India Limited (the “Company”). No representation or warranty, express or implied, is made and nop p p y ( p y ) p y, p p ,reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in the presentation. The pastperformance is not indicative of future results. Neither the Company nor any of its affiliates, advisers or representatives accepts liabilitywhatsoever for any loss howsoever arising from any information presented or contained in the presentation. The information presented orcontained in these materials is subject to change without notice and its accuracy is not guaranteed.
The presentation may also contain statements that are forward looking. These statements are based on current expectations and assumptionsthat are subject to risks and uncertainties. Actual results could differ materially from our expectations and assumptions. We do not undertakeany responsibility to update any forward looking statements nor should this be constituted as a guidance of future performance.
This presentation does not constitute a prospectus or offering memorandum or an offer to acquire any securities and is not intended to provideThis presentation does not constitute a prospectus or offering memorandum or an offer to acquire any securities and is not intended to providethe basis for evaluation of the securities. Neither this presentation nor any other documentation or information (or any part thereof) delivered orsupplied under or in relation to the securities shall be deemed to constitute an offer of or an invitation.
No person is authorised to give any information or to make any representation not contained in and not consistent with this presentation and, ifi d h i f ti t ti t t b li d h i b th i d b b h lf f th C fgiven or made, such information or representation must not be relied upon as having been authorised by or on behalf of the Company any of
its affiliates, advisers or representatives.
The Company’s Securities have not been and are not intended to be registered under the United States Securities Act of 1993, as amended (the“Securities Act”), or any State Securities Law and unless so registered may not be offered or sold within the United States or to, or for thebenefit of, U.S. Persons (as defined in Regulations S under the Securities Act) except pursuant to an exemption from, or in a transaction notsubject to, the registration requirements of the Securities Act and the applicable State Securities Laws.
This presentation is highly confidential, and is solely for your information and may not be copied, reproduced or distributed to any otherperson in any manner. Unauthorized copying, reproduction, or distribution of any of the presentation into the U.S. or to any “U.S. persons” (as
58
defined in Regulation S under the Securities Act) or other third parties ( including journalists) could prejudice, any potential future offering ofshares by the Company. You agree to keep the contents of this presentation and these materials confidential.
59
MAX INDIA LTD.Max House, Okhla, New Delhi – 110 020
Phone: +91 11 26933601-10 Fax: +91 11 26933619Website: www maxindia com
60
Website: www.maxindia.com
