Embed Size (px)
Citation preview
Max India LimitedMax India Limited
I t P t tiInvestor PresentationJune 2010
1
BSE Scrip Code: 500271, NSE Ticker: MAX, Bloomberg: MAX:INwww.maxindia.com
MAX GROUP - OVERVIEW
2
www.maxindia.com
Max India—“In the Business of Life”M lti b i t F d l d i
“ IN THE BUSINESS OF LIFE ”
Multi-business corporate Focused on people and service
Life Insurance Healthcare Clinical ResearchHealth InsuranceLife InsuranceProtecting Life
HealthcareCaring for Life
Clinical ResearchImproving Life
Health InsuranceEnhances Life
74:26 JV with New York Life
70% ownership; 8 facilities with 1100
beds
100% owned; 236 active sites
74:26 JV with BUPA Finance Plc, UK
Other Business Corporate Social Responsibility
Niche high barrier polymer films & Leather Finishing Foils
Focus on healthcare, children and the environment
VISION
3
VISION“To be one of India’s most admired corporate for service excellence”
Key Investment HighlightsU i t it t ti i t i th t th t ti l i “th B i f Lif ”1 Unique opportunity to participate in the strong growth potential in “the Business of Life”1
USD 1.5 Bn Revenue.. 4 Mn Customers..16,000 Employees..73,000 Agents..1,250 Doctors2
Robust board governance….internationally acclaimed domain experts inducted4
Strong growth trajectory even in challenging times3
Diversified ownership…..marquee investor base5
Superior brand recall with a proven track record of service excellence66Strong history of entrepreneurship and nurturing successful businesses partnerships7
Electronic Mobile Communication MedicalPharmaceuticals Electronic Component
Mobile Telephony
CommunicationServices Plating Chemicals Medical
Transcription
Hutchison COMSAT ATOTECH
4
M I di th f di till FY12
Recent Developments
• Goldman Sachs invests Rs. 522 Cr. through FCDs representing 9.1% equity stake• Promoters subscribe warrants convertible into 3% equity stake at an investment of Rs. 173 Cr.,
50% already infused
Max India secures growth funding till FY12
• Unprecedented 10 year distribution alliance with third largest private bank in India with morethan 1,000 locations.
• Axis Bank to acquire a 4% equity stake in MNYL subject to regulatory approvals
MNYL bolsters banca with Axis Bank… transformational opportunity
• Axis Bank to acquire a 4% equity stake in MNYL subject to regulatory approvals
• Peak capital commitment of Rs.700 Cr .• Break even & market share target of 5% by Year 5
Max Bupa commences operations… differentiated proposition
• Addition of 350 beds in FY10; bed strength grows to 1100• Expansion to continue with addition of 800 beds in FY12• Comprehensive service profile Oncology and Minimal Access Surgery added; organ
MHC adds pivotal specialties and increases capacity by 40%
• Comprehensive service profile – Oncology and Minimal Access Surgery added; organ transplant, cord blood banking and stem cell research to be added shortly
• 67% capacity expansion with addition of 20,000 TPA BOPP line, target start up Q4’FY11
MSF undertakes significant expansion
5
p y p , , g p• Leather finishing foil triples its capacity to 5000 KSM in Q4’FY10
Financial Performance
4000
5000
6000Total Revenue Trend Consistent track record of strong
growth in all businesses
Losses contained significantly despite
11111994
36114891
5899
0
1000
2000
3000 challenging business environment
Life Insurance AUM crosses Rs.10,000 Cr.*
FY 06 FY 07 FY 08 FY 09 FY 10
0FY 06 FY 07 FY 08 FY 09 9M FY10
Rs Crore
FY 06 FY 07 FY 08 FY 09 9M FY 10
Operating Revenue 1,008 1,820 3,244 4,508 5,571
Investment and Other Income**
103 174 367 383 2,158
Net Worth 637 591 1,537 1,312 1,996
Loan Funds 382 559 552 347 440
Total Revenue 1,111 1,994 3,611 4,891 7,729
Expenses 1,206 2,065 3,671 5,224 7,773
Profit / (Loss) after
Net Fixed Assets 447 628 718 930 965
Treasury Corpus 487 285 1,261 413 909
Life Insurance
6
Profit / (Loss) after Tax***
(95) (71) (60) (333) (44)
* AUM for year ended March’10 **Investment & Other Income, tax expense and net loss of FY06 is adjusted for income from stake sale in Hutchison Essar amounting to Rs. 427.63 Crore.*** Losses in FY09 had increased on account of significant expansion undertaken in the life insurance business.
Life Insurance (AUM)
886 1,835 3,575 5,405 10,121
MAX NEW YORK LIFE INSURANCE
7
www.maxnewyorklife.com
Parentage
Max India
• India’s leading conglomerate
New York Life
• Fortune100 company with track record of 180 years
• Successful track record of building businesses
Expertise
• AUM of $ 224 billion
Expertise
• Local perspective of the Indian market• Managing the regulatory f
• Global perspective on the insurance business• Products and Actuarial
8
frameworkframework
Life Insurance Industry Perspective
5355
92%100%
120%
50
60
e
Individual Adjusted New Business and Growth25%
34% 36%50% 57% 52%
80%
100% Market share – Individual Adjusted New Business
40
47
55
19%33% 31%
17%20%
40%
60%
80%
20
30
40
Rs 000’s crore
75%66% 64%
50% 43% 48%
40%
60%
16 21‐10%
‐20%
0%
20%
0
10
FY 05 FY 06 FY 07 FY 08 FY 09 FY10
R 50% 43% 48%
0%
20%
FY 05 FY 06 FY 07 FY 08 FY 09 FY10Pvt Players LIC
2009-10 – A challenging year for life insurance• After experiencing a CAGR of 29% over FY 04 – 09, private life insurers grow 7% in FY10
• Focus shifts to distribution rationalization, guaranteed products, customer retention, cost management and profitability
• Regulations evolving rapidly
9
• Increasing competition within the industry; total of 23 life insurers now
Source: IRDA website
MNYL Advantages
• Average case size per agent at Rs.20,665 for FY10 against Rs.19,172 in FY09, up 8% • Advise based insurance sales; Agency force as at Mar’10 end around 73,000• Around 750 trainers on board
Highly Productive Agency Model & Best in Class Training
• Balanced portfolio of traditional and ULIP products• Recent foray into universal life health and retirement products
Comprehensive Product Portfolio
• Recent foray into universal life, health and retirement products • Long tenor products with a young customer profile
• Conservation ratio* at 83% in FY10 against 82% in FY09
Top Quartile Persistencyg
• First Life Insurer to disclose Embedded Value; Embedded Value FY10 end at Rs. 2,723 Cr. grows by 19% y-o-y
Disclosures Ahead of Curve
grows by 19% y o y• Implied NBM for FY10 at 20%; VNB at Rs. 267 Cr.
• Outlook money ranked MNYL#1 in Slow Medium and Quick Fund category for second year
Investment Performance
10
Outlook money ranked MNYL#1 in Slow, Medium and Quick Fund category for second year in a row
* Conservation Ratio = Renewal Premium for the current period / (First Year Renewal Premium for the previous period)
S Company Individual New Business Premium (Rs Cr) Individual Policies (‘000)
Market Position Insurance SalesS.
No.Company Individual New Business Premium (Rs. Cr)
Premium Adjusted for 10% single premiumIndividual Policies ( 000)
YTD Mar 10 YTD Mar 09 Growth (%) Market Share
YTD Mar 10
YTD Mar 09
Growth (%)
1 ICICI Pru 5,104 5,146 -1% 17.7% 1,761 2,638 -33%, , , ,
2 SBI Life 3,990 2,892 38% 13.9% 1,353 937 44%
3 Bajaj Allianz 3,163 3,777 -16% 11% 2,229 2,590 -14%
4 Reliance Life 3,150 2,977 6% 10.9% 2,326 2,219 5%
5 HDFC Standard 2,515 2,310 9% 8.7% 950 1,074 -12%
6 Birla Sunlife 2,249 2443 -8% 7.8% 1,771 1,383 28%
7 Max New York 1,584 1,595 -1% 5.5% 952 1,207 -21%
8 T t AIG 1 116 958 17% 3 9% 689 697 1%8 Tata AIG 1,116 958 17% 3.9% 689 697 -1%
9 Kotak Life 944 1,178 -20% 3.3% 320 495 -35%
10 Met Life 914 1,068 -14% 3.2% 291 328 -11%
Others 4,065 2,531 61% 1,715 1,439 19%Others 4,065 2,531 61% 1,715 1,439 19%
Private Total 28,794 26,875 7% 14,357 15,007 -4%
LIC 26,230 20, 286 29% 38,839 35,891 8%
Grand Total 55,024 47,162 17% 53,196 50,898 5%
11
Market Share of Pvt. Players 52.3% 57.0% 28.9% 31.4%
Source: IRDA website
Agents
Agency BenchmarkingNew business YTD
Mar’10 ( Agency)( Rs Cr)
Agents(As onMar 31, 2010)
Premium per agent (Rupees) Rank Case rate
per agent Rank
1,796 68,000 22,502 1 0.76 1
1,095 72,813 11,612 2 0.70 2
1,912 200,000 9,114 4 0.67 3
1 492 177 000 7 248 7 0 57 41,492 177,000 7,248 7 0.57 4
1,726 210,000 6,255 9 0.48 5
771 90,000 7,650 6 0.47 6
503 32,000 10,882 3 0.37 7
2,533 226,000 8,180 5 0.28 8
421 60,000 5,852 10 0.27 9
305 33,000 7,152 8 0.25 10
1,215 197,000 5,010 12 0.19 11
343 56 000 5 393 11 0 17 12
12
343 56,000 5,393 11 0.17 12
Source: IRDA Journal, media reports and company’s internal estimates
Note: Premium per agent and case per agent are computed on average agents
*In terms of highest new business premium (Agency)
Our Focus… Protection Oriented, Longer Tenor Life Insurance
PROPORTION OF Tenure Age of Insured
3318.6WHOLE LIFE
PROPORTION OF POLICIES (%, by
number)
PRODUCT TYPE (Years)g
(Years)
43
34
30
2.8TERM 27
ENDOWMENT 12.1 20
0.3DEFERRED ANNUITY
18 40
7.7MONEY BACK
UNIT LINKED
39
3616
17
54.8
HEALTH 35133.7
13
22 35MNYL Average MNYL Average
As on December 31, 2009
MNYL – Embedded Value 2009-10Amount in Rs CroreAmount in Rs. Crore
267261
191377 2,723
Unwind of
Value ofNewBusiness
Other Variance
New Capital Injection
261972,284
Cost O 1 843U d o
discountBusiness VarianceOverrun
Implied NBM is 19.98% on APE*
1,5171,843
19.98% on APE(21.0% in 2008-09)
767 880
Opening EV Closing EV
Denotes increase to EV Net Worth
Denotes decrease to EV
*APE – Adjusted Premium Equivalent (Annualized First Year Premium adjusted for 10% of Single Premium & 50% of Limited Pay Products)
Value of In-force business
MNYL – Key Assumptions to Embedded Value
Economic AssumptionsEconomic Assumptions
Particulars AssumptionsCash / Money Market / TB 4.30 %
G Secs 7.87 %
Corporate Bonds 8.80 %
Equities 13.00 %
Inflation 5 75 %Inflation 5.75 %
Risk Discount Rate 13.00 %
Tax rate 14.2 % (12.5 % + 10% surcharge + 3 % education cess)
n For change in risk discount rate by 0.5%, the value of new business would change by 4.3%
Sensitivity
Operating Assumptionsn Operating assumptions like mortality, morbidity and lapses are based on our own experience and
validated with industry / reinsurers experience
n Expense assumptions are based on our own expense projection model. Basis our current expansion
Operating Assumptions
15
Expense assumptions are based on our own expense projection model. Basis our current expansionstrategy, our expense break even happens in FY 12-13
New Business Growth – AFYP and AUM
Key MetricsRenewal premium and conservation ratio**
8000
10000
12000
10001200140016001800
89%90%
120%
2000
2500
3000
3500
p
216 440 769 1308 1595 15840
2000
4000
6000
0200400600800
1000
180 317 588 1117 2014 3011
89%80% 78%
83% 82% 83%
30%
60%
0
500
1000
1500
2000
FY 05 FY 06 FY 07 FY 08 FY 09 FY10AFYP (Rs cr) AUM (Rs cr)
FY 05 FY 06 FY 07 FY 08 FY 09 FY10Renewal Premium (Rs cr) Conservation Ratio
80090000
Agency Strength and Offices
2985 3500140
In force business and No. of policies
242
705 715
400
500
600
700
800
400005000060000700008000090000
1098
1751
2578
2985
1500
2000
2500
3000
3500
60
80
100
120
140
9017 15285 25048 36896 84355 7281365
105165
0
100
200
300
010000200003000040000
FY 05 FY 06 FY 07 FY 08 FY 09 FY10
17 27 45 70 94 123
375 695
1098
0
500
1000
1500
0
20
40
60
FY 05 FY 06 FY 07 FY 08 FY 09 FY10
16
Agency strength No of Offices Sum Asssured (Rs 000's cr) Policies '000
* Offices for FY10 includes 139 offices dedicated to rural business
* *Conservation ratio = Renewal premium for the current period / (First Year + Renewal Premium for the previous period)
The Way Forward
• Multichannel distribution model with focus on building superior agency force • Axis Bank tie up to leap frog banca distribution
Spotlight on strengthening distribution
• Concentration on improving agent productivity and retention
Products and Customer Retention
• Create differentiation by occupying the “Child” space in customer mindset• Successful launch of Unique Scholarship program for Kids (I Genius) with around 5
lakh children already enrolled• Focus on Protection oriented products with cover multiple target over 15Focus on Protection oriented products with cover multiple target over 15• Maintaining conservation ratio through focus on persistency • Generate superior and consistent returns for policyholders while maintaining quality
and safety of investment assets
• Outsource non-core processes to variablize and reduce costs
Continued focus on cost management
17
Outsource non core processes to variablize and reduce costs• Improving in-house productivity to decrease costs per transaction
MAX BUPA HEALTH INSURANCE
18
www.maxbupa.in
Max Bupa – An Impeccable Lineage
19
About the Joint Venture ...
• Largest independent health insurance provider in UK• 10 million customers in over 190 countries• 55 000 employeesAbout Bupa • 55,000 employees• Group revenues in 2009 - £7.0 billion and PBT of £417 million• Recently voted as best international health care provider
About Bupa
• JV between Max India (74%) and Bupa (26%)• Max India and Bupa jointly drive strategy & business development
Max India provides Indian industry perspective and manages theMax India/Bupa • Max India provides Indian industry perspective and manages theregulatory environment
• Max India’s experience of Life Insurance and Healthcare sectorsand Bupa’s international health insurance expertise creates anunparalleled combination
Max India/BupaJV
Health Insurance Industry Perspective
H lth I k t t d80%
Health Insurance market trends…n Private health insurers gradually increasing
market share75%
38% 39% 42% 41%40%
50%
60%
70%
n Penetration levels still low ~ 3-5%
n Specialist health insurers grow rapidly over last 2-3 years
n Vanilla ‘mediclaim’ product still most popular
75%62% 61% 58% 59%25%
0%
10%
20%
30%
n Vanilla mediclaim product still most popularn Private players slowing down B2B sales
2006 2007 2008 2009 2010
Public Health Insurers Market Share Private Health Insurers Market Share
12%14%
980
1200
11%
4%
9%
6%
8%
10%
12%
491
980
1095600
800
1000
WP
(Rs C
r.)
4%3% 3%
Star Health & Allied
ICICI Lombard
Bajaj Allianz
HDFC Reliance Others0%
2%
4%
44115
535
0
200
400
2008 2009 2009 2010
GW
21
& Allied Lombard Allianz
Private Sector Market Share Split 2009 - 20102008 - 2009 2009 - 2010
Apollo Munich Star Health & Allied Aggregate specialised health insurers
Health Insurance Market In India A Rapid Growth Story ...
28,461
25,000
30,000
17,508
22,322
20,000
25,000
8,447
10,770
13,731
10,000
15,000
761 1,004 1,354 1,732 2,222 3,209
5,110 6,625
8,447
5,000
-2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
*Source: KPMG CII Health Insurance Report 2008
What Max Bupa Has Set Out To Do …
Category / product awarenessTrust, consistency and customer
Process painComplexity
advocacyA health preventive focus
p yLack of accountability
Transparency and accountabilityRelationships with customersService LevelV l ti
Uncertainty of health insurance products and processes
Value perception
Relationship
Max Bupa… differentiated proposition
Good Hospitalization
experience:Cashless processing;
Simplicity, Transparency:Hassle free claim processing; No Comprehensive
Manager forGold & Platinum
CustomersTechnology &
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 well being focus
Health Coach (2011 onwards)
information24/7 health line
Business ProgressLicense received from IRDA in Feb 2010, first product approved in March 2010License received from IRDA in Feb 2010, first product approved in March 201011
Simultaneous brand & business launch in 6 cities from Apr 29, 2010 – Delhi (NCR),Mumbai Hyderabad Bangalore Chennai and Pune
Simultaneous brand & business launch in 6 cities from Apr 29, 2010 – Delhi (NCR),Mumbai Hyderabad Bangalore Chennai and Pune22 Mumbai, Hyderabad, Bangalore, Chennai and PuneMumbai, Hyderabad, Bangalore, Chennai and Pune
Cities to be added during next quarter – Surat, Ludhiana and JaipurCities to be added during next quarter – Surat, Ludhiana and Jaipur33
Peak equity commitment of Rs. 700 Cr. of which, Rs. 188 Cr. infusedPeak equity commitment of Rs. 700 Cr. of which, Rs. 188 Cr. infused44
55 People strength – 400, to grow to 600 by DecemberPeople strength – 400, to grow to 600 by December55
More than 12,000 man hours of training impartedMore than 12,000 man hours of training imparted66
88
Customer service delivery managed in house, no third party service provider involved7
25
Business critical information technology systems implemented successfullyBusiness critical information technology systems implemented successfully88
MAX HEALTHCARE
26
www.maxhealthcare.in
Healthcare Industry Perspective
Insurance & Medical Equipment
15%
Healthcare Industry 2010 - USD 65 Bn.9.7
8.0
10.0
12.0Bed Density per 1000 population
Hospitals50%
Diagnostics10%
0.9
2.92.2
3.22.6
1.92.6
2.0
4.0
6.0
50%
Pharma25%
0.0
KEY HIGHLIGHTS• Hospitals account for 50% of healthcare sector revenues and are expected to reach USD 32 7 Bn by 2010Hospitals account for 50% of healthcare sector revenues and are expected to reach USD 32.7 Bn by 2010
• 30-100 bed hospitals expected to grow at a CAGR of 6% and >100 beds hospitals at a CAGR of 14% from 2005 - 2015
• Additional 1.75 Mn. beds need to be added by 2025 to achieve goal of 2 beds per 1000 population
• The above goal requires an investment of INR 3,70,000 Crores (USD 86 Bn.)
27Source: Netsrcibes Report 2009 and FICCI & E&Y Report, 2008
• Emergence of PPP model in healthcare delivery
Growing Health Insurance Market...
Key drivers for growthComparative medical cost
2232
5166
3040506070
billion
g
100
48
65
Comparative medical cost
India UK US
’000
s)
14 1722
0102030
FY04 FY05 FY06 FY07 FY08 FY09
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)150
Expected number of Lifestyle disease patients in India
2.9
3.4
1.2
3.3
4.2
3.6
Mexico
Brazil
India
PublicP i 69
3843
48
50
75
100
125
150
os. m
illio
n)
6.8
6.4
8.4
3.1
0 5 10 15 20
US
Austr… Private43 55 69
0
25
2007 2012P 2017PCardiac Diabetes
(no
28Source: FICCI & E&Y Report, 2007, IRDA, B&K report, 2009, Crisil
Low healthcare spend presents opportunities for growth and expansion
Growing trend of lifestyle diseases need effective and continuing medical attention
Tertiary CareTertiary Care
MHC – ModelTertiary CareTertiary Care
- Max Super Specialty Hospitals –Saket
• Neurosciences• Oncology• Cardiac Care• Minimally Invasive & Metabolic Surgery- Max Super Specialty Hospital –
Patparganj
Secondary CareSecondary Care
• Minimally Invasive & Metabolic Surgery• Joint Replacement and Orthopaedics• Aesthetics and Reconstructive surgery
Secondary CareSecondary CareMax Hospitals – 3Specialty Centre – 2
• Medicine & Allied Specialties• Mother and Child• High-end diagnostics• Infertility and IVF• Eye and Dental care
Primary CarePrimary CareClinics /
• Eye and Dental care
• PHP• Specialist doctor consultClinics /
Implants – 9• Basic diagnostics like pathology
collection• Home Care
29
Presence across the healthcare delivery value chain
Shareholding Pattern and Key Highlights
Factsheet Healthcare facilities 8
Physicians 1250*
Other support staff Around 3,500
Patient base Approx. 930,000
Patient transactions Around 225,000 pm
Beds 1,100
ICU Beds 324
Operation Theatres 35
Cathlabs 3
LINAC 2
PET 1
MRIs 4
CTs 6
Max Super Specialty Hospitals at Saket are NABH accredited
30*Includes 675 physicians on Rolls
Max Super Specialty Hospitals at Saket are NABH accredited Lab facilities at Max Super Specialty Hospital are NABL accredited
Key Strengths
• State-of-the-art infrastructure and facilitiesComprehensive and integrated healthcare services
Well established brand name throughout India• Quality conscious and patient centric approach• Consistently improved operational and clinical efficiency• Won numerous accolades including accreditations by the NABH and NABL• Comprehensive range of services offer primary, secondary, tertiary and quaternary care
• Team of 1250 doctors complemented by 1900 nurses and 1700 other trained medical personnel and support staff *
Network of highly respected and leading specialists
• Centres of excellence in cardiac, minimal access, metabolic and bariatric, orthopedics and joint replacement, neurosciences, pediatrics, obstetrics & gynecology, oncology and aesthetic & reconstructive surgery
Leadership in key super-specialties in tertiary care
• Organ transplant, cord blood banking, stem cell research to be added
• DNB (Diplomate of National Board) & fellowship programsExtensive emphasis on medical training and education
31
• High quality nursing and paramedic care supported by nursing and paramedic college
*As of March 31, 2010
Key metrics
56.5%57.2%
55 0%
57.0%
59.0%
300
400
Revenue and Contribution Margin
14964 1554018914
19433 20431
20000
25000
600
800
Avg. operational beds and Avg. revenue per occupied bed day*
131 245 372 423 534
50.6%51.5%
53.1%
49 0%
51.0%
53.0%
55.0%
0
100
200
346
610 662 712 751
0
5000
10000
15000
0
200
400
49.0%0FY 06 FY 07 FY 08 FY 09 FY10
Revenue (Rs cr) Contribution Margin
00FY 06 FY 07 FY 08 FY 09 FY10
Avg. operational beds Avg Revenue per bed day (Rs)
Inpatient Trends Outpatient Trends
4779953751
64785 6439068831
40000
60000
80000
45000
60000
75000Inpatient Trends
2250
322
432 446493 565
300
450
600
1500
2000
2500Outpatient Trends
2223536671
46532 51103 59130
0
20000
0
15000
30000
FY 06 FY 07 FY 08 FY 09 FY10
7711105
15931900
2250
0
150
0
500
1000
FY 06 FY 07 FY 08 FY 09 FY10
32
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 Healthcare Expansion
Facility No. of Beds
Date of Commencement
Max Hospital, 150 Apr 20112150
2450
2000
2500
3000
Bed Capacity
Dehradun
Max Hospital, Shalimar Bagh
300 Sep 2011
7701100
0
500
1000
1500
Shalimar Bagh
Max Hospital, Mohali
300 Sep 2011
FY09 FY10 FY12 FY16
Bed Capacity
Max Hospital, Bhathinda
300 Sep 2011Funding Position
• Funding required for new projects of approx Rs. 564 Cr.*
• Equity infusion of approx Rs. 300 Cr. and debt of approx Rs.220 C Max Hospital,
Greater Noida300 FY16220 Cr.
• Of the above, equity of Rs. 105 Cr. to be raised; balanceequity and debt funding tied up
3333* This does not include project cost for Greater Noida facility
Land already in place for the expansion
MAX NEEMAN MEDICAL INTERNATIONAL
34
www.neeman-medical.com
Indian Clinical Research Industry Perspective
250
300300
350
Growth of the Clinical Trial Industry in India
Indian CRO industry
100120
150 160 175
100
150
200
250
US$
Millionis expected to leap
into a superior growth trajectory in the next few years
0
50
2004 2005 2006 2007 2008 2009E 2010E
Key Growth Drivers of Clinical Research• Huge patient population base with therapeutic diversity
Cost arbitrage• Cost arbitrage
• Huge talent pool
• Data processing infrastructure for bio-informatics
As per FICCI - Ernst and Young Survey Report 2008 and market information
• Favorable patent regulations
MNMI—Overview
• 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 management
• Confirmed order book of Rs 32 Cr. with net addition of Rs. 22 Cr. during the year
• Business Development efforts focused on medium/small-sized biotech & pharma companies
Key Highlights•Operational since 2001 and profitable
•Revenue for FY10 at Rs. 18 Cr. grows 26 % yoy
Marquee Clients
g y y
• Profit for FY10 at Rs. 2.2 Cr. grows 134% yoy
•Patient retention rate at 92%
•4 successful US FDA GCP audits
• 20 ongoing oncology studies
•Database of over 1000 GCP/ICH trained investigators
•60% of employees out of 280 are physicians
36
•92 studies being executed across 180 sites
MAX SPECIALITY FILMS
37
www.maxindia.com
Global BOPP Industry Perspective
6480 6750 7130 7500 7900
77% 76% 77% 77% 78%
60%
80%
100%
6000
8000
10000
BOPP Global Demand and Supply Global per capita consumption of BOPP
BOPP per capita consumption in India lower than
the global
(KG’s)
6480 6750
4950 5150 5500 5800 63000%
20%
40%
0
2000
4000 1.91.6
1.2
0.5 1.6 0.160.8
the global average
(KTA
)
2007 2008 2009 2010 2011
Capacity Production Utilization
Western Europe
China North America
Asia Latin America
India World Average
Key Growth Drivers of BOPP FilmsKey Growth Drivers of BOPP Films• Global flexible packaging industry growth at over 5%
• Growth of flexible packaging Industry ~ 15% in India and 7 - 8% globally.
• Per capita consumption of BOPP in India relatively lower
• BOPP films are recyclable and have a competitive advantage over other plastic and traditional products
• Shift from PET to BOPP. (Indian BOPP:PET products ratio around 1:2 against 3:1 globally)
• Competitive pricing and costs spurs exports from India and restricts imports
• Growth in FMCG and organized retail and changing urban life styles & rural demand
38
Growth in FMCG and organized retail and changing urban life styles & rural demand
• Converting industry growing & India becoming global hub for supplies of Flexible Laminates
MSF visible in Top Brands You will FindYou will Find MSF films in…
39
Key Differentiators
Commodity Speciality(Preferred)
MetallisedFilms Coated Films Foils
End UsePackaging,Industrial,
Textiles
Packaging,Lamination
Packaging,Lamination,Industrial,
Packaging, Industrial
Lifestyle,Apparels
Our FocusMax Speciality Products is much more than packaging…n Manufacturer of niche (high margin) and high barrier speciality polymer films
n Pioneer in introduction of value added products /technology in Indiap gy
n Value added products account for 60-70% of total sales
n New product development – 6 to 8 per year
L t l ti hi ith bl hi t P f d V d
40
n Long term relationship with blue chip customers; Preferred Vendor
C it Utili ti
Key Highlights
• BOPP lines of 29,000 TPA & all Metallisers running at 100%+ capacity utilization
Capacity Utilization
Expansion
• BOPP capacity expansion of 20,000 TPA, operational in April 2011 • Expansion to spur growth & profitability• Leather finishing foil business triples its capacity to 5000 KSM in Q4’FY10
Expansion
g p p y
• Special Films developed for Pepsi’s ‘Aliva’ & Cadbury’s Silk
New Product Development
• Revenue of Rs. 340 Cr. and PBT of Rs. 20 Cr in FY10• Achieved EBIDTA Margin of 13% maintained despite 30% increase in Domestic Capacity in
09/10
Performance
• Energy Conservation from Ministry of Power… Govt. of India Punjab State Safety award to workmen by Punjab Government
Awards
41
• Punjab State Safety award to workmen by Punjab Government• International “Quality Crown” from B.I.D. Spain
Thank You
42
Max India – Management Team
Mr. Analjit SinghChairman & Managing Director
Mr. Analjit Singh has been the driving force behind Max Group’s sustained growth and success since the early80’s. Mr. Singh a prominent industrialist is an alumnus of Doon School; University of Delhi, and the GraduateSchool of Management, Boston University
Mr. C. V. RaghuDirector – Legal & Regulatory
Mr. Raghu brings with him a rich and varied experience of 22 years, of which, 14 years have been spent withAmerican Express Bank. Prior to that, he has worked with Hindustan Lever Limited and CII. He holds a BachelorsDegree in Law from Faculty of Law, Delhi University.
M M hit T l Mr Talwar brings rich and varied experience of 28 years with The Oberoi hotels Bank of Nova Scotia GrindlaysMr. Mohit TalwarDirector – Corporate Development
Mr. Talwar brings rich and varied experience of 28 years with The Oberoi hotels, Bank of Nova Scotia, Grindlays& Standard Chartered. In his last assignment with Standard Chartered he was responsible for developingstrategy, revenue & economic profit across products. Mr. Talwar is a post-graduate in Arts and HospitalityManagement.
Mr P Dwarakanath M D k th b i i h d i d i f 37 i il f GSK Gl S ithKli CMr. P. DwarakanathDirector - Group Human Capital
Mr. Dwarakanath brings rich and varied experience of 37 years primarily from GSK GlaxoSmithKline ConsumerHealthcare and is currently the non Executive Director of GSK. He has done his Post Graduate diploma inPersonnel Management and Industrial Relations, B.Sc and Bachelor of Law.
M S j th R tMs. Sujatha RatnamChief Financial Controller
Ms. Ratnam brings with her over 20 years of rich and varied experience with Jubilant Organosys and Tata Motorsand has expertise in the field of financial restructuring and fund raising. She is a Chartered Accountant.
Mr. V Krishnan Mr. V. Krishnan has more than 18 years of rich experience in Corporate Regulatory and Compliance matters andhas been closely involved in establishing joint ventures mergers & acquisitions and business restructuring of Max
43
Company Secretaryhas been closely involved in establishing joint ventures, mergers & acquisitions and business restructuring of MaxGroup. He is a member of the Institute of Company Secretaries of India.
MNYL – Management Team
Mr. Rajesh Sud –
Managing Director
Mr. Sud, a founder member, has been instrumental in establishing MNYL’s distribution footprint across India. Today
MNYLs Agency model is recognized as “best-in-class”. Prior to joining MNYL, he was the CEO & Managing Director of
Esanda Finance Ltd (a financial services subsidiary of ANZ Grindlays Bank)and CEO Esanda Finance Ltd (a financial services subsidiary of ANZ Grindlays Bank)
Mr. Rajit Mehta –Mr. Mehta, a founder member, has led and built the HR function of MNYL and provided overall HR direction in line with
business strategy. He has also played a significant role in managing change / transition agendas both at a functionalChief Operating
Officer
gy p y g g g g g
and organizational level while facilitating strategic initiatives. Prior to joining MNYL, he was Director - Human Resources
at Bank of America, India
Mr. John Poole
Chief Actuary
Mr. Poole, is both Chief Actuary and Appointed Actuary for MNYL. He has been instrumental in building MNYLs
actuarial capability and implementing best practices. Prior to this assignment, he worked with AMP in various key
management positions including CFO and Actuary
Mr. Sunil Kakar
Senior Director &
Mr. Kakar joined MNYL in March 2001 and is in charge of Finance, Accounts, Investments and Risk Management.
Under his leadership investment portfolio continues to generate top quartile returns. Prior to joining MNYL, Sunil was
44
Chief Financial Officer with Bank of America, India as Vice President (CFO)
Road Map to Becoming India’s Most Admired Life Insurance Company
Key Public MessagesKey Public MessagesKey Public MessagesKey Public Messages
A trusted life insurance specialistCustomer centricFinancially responsible and strongA great place to workAn admired member of the community
VISIONVISION Become the most admired Life Insurance Company in India
MISSIONMISSION
Part of top quartile newLife Insurance Companies
National PlayerBrand 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 ChoicePrincipal of Choice for AgentsKey DifferentiatorsKey Differentiators
Financial Strength & SecurityQuality of agentsFlexible 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 sService ExcellenceFair 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
ExcellenceHonestyKnowledgeCaringIntegrity
VALUES & BELIEFSSTANDARDS MGMT PROCESSCustomer comes first
International quality standardsDo it right the first timeFact based decisionsBias for result oriented actionFinancial strength & discipline
InputOutputExternalInternalAb l t
GMPR RatingsTEC/TTR – TemplatesPrimary, Shared and ContributoryB l d d
45
IntegrityTeamwork
Financial strength & disciplineDirect and open communicationRespect Max & NYLI values & parentageFun at work
AbsoluteRatios
Balanced scorecardCore, Functional and Leadership Competencies
MNYL – Performance Snapshot
Key Business Drivers Unit Year Ended Y-o-Y Growth Mar-10 Mar-09
a) Gross written premium income Rs. Crore
First year premium 1,648 1,594 3%
Renewal premium 3,011 2,014 50%
Single premium 202 249 -19%g p
Total 4,861 3,857 26%
b) Individual Adjusted Premium (APE*) Rs. Crore 1,584 1,595 -1%
c) Conservation ratio** % 83% 82%c) Conservation ratio % 83% 82%
d) Average case size Rs. 20,665 19,172 8%
e) Case rate per agent per month No. 0.66 1.05 -38%
f) N b f Nf) Number of agents No. 72,813 84,355 -14%
g) Paid up Capital Rs. Crore 1,973 1,782 11%
h) Individual Policies in force No. 2,985,207 2,578,476 16%
46
i) Sum insured in force Rs. Crore 123,098 93,593 31%
*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)
MHC – Management TeamDr. Pervez Ahmed Dr. Ahmed has been an participant in healthcare related fields especially development of standards of critical care medicine in
CEO and Managing Director
New York. Since 1977 he has been involved in academic Medicine at SUNY, Downstate. Dr. Pervez Ahmed, MBBS from AFMC,Pune, has completed Residency in Internal Medicine and Fellow-ship in Cardiology in New York. He is Board certified in Internaland Cardiovascular disease and a Certified Medical Director.
Dr. Pradeep K ChowbeyPrior to joining MHC, he was Chairman of the Minimal Access Metabolic & Bariatric surgery center, Sir Ganga Ram Hospital. Hehas been visiting faculty to the best Medical Institutions like Memorial Sloan Kettering Cancer Hospital, NewYork, John Hopkinsp y
Joint Managing Directorg y g p , , p
Institute in USA & Royal Marsden Cancer Hospital, in U.K. Dr. Chowbey has done his MBBS followed by MS, GeneralSurgery(1977) from Govt. Medical College, Jabalpur & MNAMS, National board of Examination.
K.S. RamsinghaneyDirector- Commercial &
Mr. K.S. Ramsinghaney is B.E. Mechanical with over 35 years of experience. He has been associated with Max India group since1983 and has worked as CEO of Max Specialty products and Chief Executive of MAPP. He has worked with Max Healthcare for
Infrastructure more than 5 years, leading Commercial, Support & Project functions.
Mr. S.L. NarayananCFO & Director (IT)
Mr. Narayanan is a Chartered Accountant with over 25 years of experience in various sectors such as FMCG, Telecom, IT & BPO.He held various senior positions at Symphony Services Corp. (Pvt. Held US Company), Bharti, HCL Tech, BPL Mobile and ITC
Mr Arvind Kakar Mr Kakar is a Chartered Accountant with over 18 years of experience in service industries and having a high focus in theMr. Arvind KakarVice President Finance
Mr. Kakar is a Chartered Accountant with over 18 years of experience in service industries and having a high focus in theareas of financial services and healthcare. He has been associated with the Max group since 2000.
Mr. Sanjay RaiDirector Marketing &
Mr. Rai brings with him more than 28 years experience in Sales & Marketing in service and manufacturing industries. He hasearlier worked with The Oberoi group and ITC Limited. He leads and manages various sales channels at Max Healthcare and isalso responsible for Branding, Customer Relationship Management and Direct marketing, PR function and for service excellence.
Customer Management p g p g g
He is an graduate in Economics from Mumbai University,
Mr. Surajit BanerjeeDirector Human Resource
Mr. Banerjee has 23 years experience in Human resource and worked with reputed organizations like Spice Jet, Hindustan Lever,EIH, Reckitt Bencksier, Bharti Cellular etc. He is an post graduate in personnel management and industrial relations from XLRI.
Dr Brar was associated with the Indraprastha Apollo Hospitals and Hero Honda group of companies prior to joining Max
47
Dr. Dilpreet BrarRegional Director
Dr. Brar was associated with the Indraprastha Apollo Hospitals and Hero Honda group of companies prior to joining MaxHealthcare in 2002. She is responsible for business operations of Patparganj, Noida and Pitampura Hospitals and new projects.Dr. Brar is a graduate from Govt. Medical College, Patiala. She secured a post graduate diploma in hospital management, andcompleted a certificate course in Health Insurance from Indraprastha Apollo hospitals, New Delhi.
Padma Shri Dr. Rustom Phiroze SoonawalaE i d I i ll d Ob i i & G l i
MHC – Key Physicians
MD, FRCS, FRCOG
Chairman, Obstetrics & Gynaecology
Eminent and Internationally renowned Obstetrician & Gynaecologist.
Former President of the Federation of Obstetricians and Gynaecologists
Dr. S.K.S. Marya (M.S., DNB, Mch, FICS) Renowned Joint Replacement Surgeon having 30 years experience.
Chairman - Orthopaedics & Joint Replacement and
Associate Medical Director
Pioneered bilateral Hip and Knee Joint replacement.
Author and teacher par excellence.
Dr Shakir HusainFormer Consultant & Interventional Neurologist at Ganga Ram Hospital
Dr. Shakir Husain
MD, 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)
Director –Neurosurgery
Renowned Neurosurgeon having 27 years experience.
Served institutions of repute like Sir Ganga Ram Hospital, AIIMS, Institute of
Neurosciences, Guwahati etc.
D P f G S G bhiDr. Prof. G. S. Gambhir
MD,DM, FAMS, FCSI, FSCAI, FACC (USA)Chief – Interventional Cardiology & Director –Clinical Research
Former Asstt. Prof. Department of Cardiology, G.B. Pant Hospital, Delhi
Pioneers in the field of interventional cardiology, teacher & researcher. He
has published over 110 original papers in national and international journals
48
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.
Dr Urvashi Prasad Jha Over 30 Years Experience in treating women with gynaecological problems
MHC – Key PhysiciansDr. Urvashi Prasad Jha
MD, MRCOG, FRCOG
Director – Obstetrics & Gynaecology
Over 30 Years Experience in treating women with gynaecological problems
Served institutions of repute like with Indraprastha Apollo Hospital, PD Hinduja
Hospital and Medical Research Centre, Dharamshilla Cancer Hospital etc.
Padamashree Dr (Prof ) H S Rissam Over 30 Years Experience in Cardiology & MedicinePadamashree Dr. (Prof.) H. S. Rissam
MD, DM, FICA FCCP, FISE, FIMSA, FICC, FCSI, FICN, FRSM, MRSH
Director – Clinical Cardiac Sciences & Senior
Over 30 Years Experience in Cardiology & Medicine
Former Director Medical Sciences - Batra Hospital & Medical Research Centre,
Former Associate Director - Escorts Heart Institute & Research Centre, New Delhi
Former Professor of (Medicine) Cardiology Govt Medical College and SMHS group
Interventional Cardiologist of Hospitals Srinagar & Kashmir
Dr. Bhawna Sirohi (MBBS, MD)
Chief Medical Oncology
Internationally Renowned Medical Oncology Surgeon having 18 years experience.
Served the Addenbrookes Hospital, Cambridge as Consultant – Medical Oncology.
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.
Served institutions of repute like PGI Chandigarh Batra Hospital & Medical
49
Sr. Consultant & Chief – Radiation Oncology Served institutions of repute like PGI Chandigarh, Batra Hospital & Medical
Research Centre and Rajiv Gandhi Cancer Institute & Research Centre.
MHC – Vision / MissionB 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 DifferentiatorsFocused NCR centric delivery – for operational excellenceLeadership in 5 super-specialties in tertiary care
-‘Star’ physicians supported by a group of high quality physiciansEthicsMemorable 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 supportedby 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 MessagesMedical ExcellenceService Excellence – Total ExperienceIn 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 youHigh-end tertiary care in Private sector
ComprehensivenessReferral system – National & InternationalValue for money
50
p p y• Teamwork• Win-win partnerships
• Fun at work• Reward & Recognition
Service Dashboard - Sparsh• NABH/NABL Accreditation• Adverse event Measurement.
Corporate Social Responsibility
MHC – Performance SnapshotKey Business Drivers - Unit Year Ended Y-o-Y
G thKey Business Drivers - Growth Mar-10 Mar-09a) Revenue Rs. Crore
Inpatient Revenue 407 329 24%Outpatient Revenue 127 94 36%Total 534 423 26%
b) ProfitabilityContribution Margin Rs. Crore 305 239 28%Contribution (%) % 57.2% 56.5%EBITDA Rs Crore 24 29 -18%EBITDA Rs. Crore 24 29 -18%EBITDA (%) % 4.4% 6.8%
c) Patient Transactions (Number of Procedures) No.- Cardiac Care 8,224 7,439 11%- Orthopaedics 2,616 2,153 22%- Neurosciences 1,194 874 37%- Obstetrics & Gynaecology 5,251 4,861 8%- Oncology 624 10 - General Surgery & MAS 3,946 2,966 33%
Oth 7 608 6 693 14%- Others 7,608 6,693 14%Medical Admissions 29,667 26,109 14%Outpatient Registrations 2,249,530 1,899,878 18%
d) Average Operational Beds No. 751 712 5%e) Average Occupancy % 72.6% 65.1% 11%
51Note: The results presented above are for Max Healthcare’s network of hospital
e) e age Occupa cy % 6% 65 % %f) Average Length of Stay No. 3.4 3.3 -g) Average Revenue per Occupied Bed Day Rs. 20,431 19,433 5%
Project Costn Max India
EquityCapital
Rs. 676 Crore
Current – Rs. 166 CroreFuture – Rs. 150 Crore
n Warburg Pincus – Rs. 140 Croren IFC, Washington – Rs. 50 Croren Other Foreign Investors – Rs. 20 Crore
PreferenceCapital
Other Foreign Investors Rs. 20 Croren New Investor – Rs. 150 Crore
n IFC, Washington
Project Cost*Rs. 1,584 Crore
CapitalRs. 250 Crore
D bt
IFC, Washington
,n Indian Banks and Financial
InstitutionsDrawn – Rs. 401 CroreFuture (tied-up) – Rs. 203 Crore
Debt Funds
Rs. 604 Crore
Internal Accruals
52* The above project cost does not include project cost for Greater Noida Hospital
Rs. 54 Crore
MHC – Accreditations and Awards
FICCI Healthcare Excellence Awards(2009)
ISO 14001:2004 at Pitampura
ISO 9001:2008 Recertification atMax Heart & Vascular Institute,Noida Pitampura Panchsheel
First in North India to get NABH for MHVI & MSSH
Noida, Pitampura, PanchsheelPark &Home Office
“Max Super Speciality Hospital adjudged one of the Best Hospitals forIndia International
53
adjudged one of the Best Hospitals for ‘Excellence in Healthcare Delivery’
India International Achiever Award
MHC Tertiary Care Facility, Saket [South Delhi]
MAX SUPER SPECIALITY HOSPITAL (East & South)( East : December 2004 South : February 2010)
MAX SUPER SPECIALITY HOSPITAL (West)(May 2006)( East :- December 2004, South :- February 2010)
n Patient beds – (East ; 207 beds) & (South ; 83 beds)n 11 OTs, 2 Cardiac Catheterization Labsn Tower Specialties – Cardiac Sciences, Minimal Access,
Metabolic & Bariatric Surgery Comprehensive Oncology
(May 2006)n 184 beds (including 71 critical care beds)n 7 OTs, 20 Consult Chambersn Tower Specialties– Orthopaedics, Neuro Sciences,
Obstetrics & Gynaecology Paediatrics and Aesthetic &Metabolic & Bariatric Surgery, Comprehensive Oncology (Surgical, Medical and Radiation)
n Nuclear Diagnostic Servicesn Advanced CT Scan Imagingn Centralized Emergency Command with Advanced
Obstetrics & Gynaecology, Paediatrics and Aesthetic &Reconstructive Surgery
n Brain Suite (first in Asia) and Intra Operative MRIn DSA Lab (for Neuro Sciences)n Emergency Services
54
Centralized Emergency Command with Advanced Cardiac Life Support Ambulances and Air Evacuation Service
n Emergency Servicesn High end Radiology facilities with 64 slice Cardiac CT
MHC Tertiary Care Facility, Patparganj [East Delhi]
PATPARGANJ (PPG I ) (May 2005) PATPARGANJ (PPG II) (Feb 2010)
154 inpatient beds 3 OTsGeneral Surgery & MASNephrologyMother and child care
259 inpatient beds 7 OTs, 1 Cardiac Catheterization LabsInvasive & Non Invasive Cardiology Cardio Thoracic Vascular Surgery Comprehensive OncologyMother and child care
Plastic Surgery & GastroentrologyOther allied specialties
Comprehensive Oncology (Surgical, Medical and Radiation)Orthopaedics & Joint ReplacementNeurosciencesUrology
55
Critical Care & Other allied specialtiesAmbulatory Care
MHC Secondary Care Facility [ Suburb of Delhi ]
NOIDA (August 2002)GURGAON (July 2007) PITAMPURA (February 2002)(North Delhi)
32 inpatient beds2 OTsMother and child careNon-invasive cardiology
80 inpatient beds 3 OTsOrthopaedics & TraumaOphthalmology (anterior and posterior)Woman and child (including infertility)
(North Delhi)
90 inpatient beds2 OTsLithotripsyMother and child care Non invasive cardiology
Laparoscopic surgeryOrthopaedicsENT, ophthalmologyUrology and nephrology
Woman and child (including infertility)Medical & surgical intensive careNephrology and urologyAesthetic and reconstructive surgeriesGeneral and minimally invasive
i
Mother and child careAesthetic & Reconstructive SurgeryNon-invasive cardiologyPhysiotherapyPaediatric & Neonatal Intensive Care
56
Full range diagnosticsPHP, OPD and Dentistry
surgeriesPHP and OPDPaediatric & Neonatal Intensive Care
Full range diagnosticsPHP, 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 diagnosticsDental – 5 chambersSupport services and offices
(August 2006)
GP and specialist consultsDiagnosticsNeurology (EEG and EMG)Support services and offices Neurology (EEG and EMG)Preventive health and chronic carePhysiotherapyMinor procedures and
57
Minor procedures and emergenciesIVFHome Care
MSF – Performance Snapshot
Key Business Drivers UnitActual
Y-O-Y Growth FY10 FY09
a) Sales Quantity – BOPP Tons 29,678 28,503 4%
b) Revenue Rs. Crore 340 370 -8%
c) Profitability:
Contribution Margin* Rs. Crore 125 137 -9%
% 36.7% 36.9%
EBITDA Rs. Crore 43 51 -16%
% 12.7% 13.9%
PBT Rs. Crore 20 25 -18%
58* Contribution Margin is calculated as revenue less raw material consumption.
% 6.0% 6.7%
DisclaimerThis 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 past
performance is not indicative of future results. Neither the Company nor any of its affiliates, advisers or representatives accepts liability
whatsoever for any loss howsoever arising from any information presented or contained in the presentation. The information presented or
contained 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 assumptions
that are subject to risks and uncertainties. Actual results could differ materially from our expectations and assumptions. We do not undertake
any 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 provide
the basis for evaluation of the securities. Neither this presentation nor any other documentation or information (or any part thereof) delivered or
supplied 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, if
i 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 the
benefit of, U.S. Persons (as defined in Regulations S under the Securities Act) except pursuant to an exemption from, or in a transaction not
subject 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 other
person in any manner. Unauthorized copying, reproduction, or distribution of any of the presentation into the U.S. or to any “U.S. persons” (as
59
defined in Regulation S under the Securities Act) or other third parties ( including journalists) could prejudice, any potential future offering of
shares by the Company. You agree to keep the contents of this presentation and these materials confidential.
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
