Max India Ltd · NSE:MAXIND
Max India — Investor Presentation (May 2008)
52 slides from Max India's investor presentation, May 2008
Slide 1: Max India Limited Investor Presentation
Max India Limited Investor Presentation This presentation is a compilation of unaudited financial and other information. This 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 r
Slide 2: Max India – An Introduction
Max India – An Introduction Max India Limited is a multi-business corporate, driven by the spirit of Enterprise, focused on Knowledge, People and Service oriented businesses of Life Insurance, Healthcare and Clinical Research. Max’s other businesses are Speciality Plastic Products for the packaging
Slide 3: Max India – Key Highlights
Max India – Key Highlights n Promoted by Mr. Analjit Singh a prominent Indian industrialist, in 1988 n Amongst one of the leading conglomerates in India Life Insurance – 74:26 JV with New York Life… 5% Market Share amongst Private Players Healthcare – 70% Owned… 8 Healthcare Facilities with 770
Slide 4: Consolidated Performance Snapshot
Consolidated Performance Snapshot US$ Mn CONSOLIDATED FINANCIAL HIGHLIGHTS Particulars 2007-08 2006-07 Growth % Operating Revenue 811.0 454.8 78% Investment and Other Income 91.6 43.6 110% 903 Total Revenue 902.6 498.4 81% EBITDA 17.6 5.1 245% EBIT 1.1 (6.4) 498 Net Income Before Tax (10.8) (13.9) 2
Slide 5: Max India – Shareholding
Max India – Shareholding Shareholding Pattern – March 31, 2008 Number of Outstanding Shares 222,022,720 Promoter Group – Mr. Analjit Singh 33.8% Others FDI – 15.9% Warburg Market Capitalization Pincus 13.5% Approx. US$ 1 Billion FII – Warburg FII – Others Pincus 27.7% 9.1% Note: Number of Outstandin
Slide 6: Max India – Management Team
Max India – Management Team Name Profile Mr. Analjit Singh, Chairman & Managing Director, Max India has been the driving force behind Max Group’s sustained Mr. Analjit Singh growth and success since the early 80’s. Mr. Singh a prominent industrialist is an alumnus of Doon School; University of Delhi
Slide 7: Max New York Life Insurance
Max New York Life Insurance www.maxnewyorklife.com 7
Slide 8: India’s Life Insurance Industry is Witnessing Rapid Growth
India’s Life Insurance Industry is Witnessing Rapid Growth Strong Growth driven by… n Low Penetration Level n Increasing Per Capita Income n Strong GDP Growth n Absence of Social Security Cover n Increasing Awareness n Better Distribution n Availability of Multiple Products n Increased Life Expectan
Slide 9: Max New York Life Insurance [ MNYL ]
Max New York Life Insurance [ MNYL ] n Joint Venture between Max India and New York Life International [ NYL ] n NYL, one of Fortune 100 companies, is the oldest mutual life insurance company in the US with around $250 billion in assets under management n Max India and NYL jointly drive the growth s
Slide 10: MNYL road map to becoming India’s most admired Life Insurance Company
MNYL road map to becoming India’s most admired Life Insurance Company Key Public Messages VISION Become the most admired Life Insurance Company in India A trusted life insurance specialist Customer centric Part of top quartile new Life Insurance Companies Financially responsible and strong
Slide 11: MNYL – Management Team
MNYL – Management Team Name Profile 11
Slide 12: MNYL – Key Differentiators
MNYL – Key Differentiators n One of India's leading private providers of life insurance, a well recognized brand name and strong parentage n Full suite of products with a focus on protection n Long tenor products (Average Tenor – 26 Years), Young Customer Base (Average Age – 33 Years) n Highly produ
Slide 13: Protection Oriented, Longer Tenor Life Insurance
Protection Oriented, Longer Tenor Life Insurance PROPORTION OF Tenure Age of Insured PRODUCT TYPE POLICIES (%, by (Years) (Years) number) 20 42 34 WHOLE LIFE ENDOWMENT 22 28 16 TERM 3.6 23 35 DEFERRED 0.4 15 42 ANNUITY MONEY BACK 11 14 34 UNIT LINKED 49 24 34 As on Mar 31, 2008 26 33 MNYL Average MN
Slide 14: Established Ourselves amongst the Leading Agency Sales Force
Established Ourselves amongst the Leading Agency Sales Force Adjusted Single premium New Business Apr – March 08 Agents Premium per Agent * ($) Cases per Agent * (Agency) (US$ Mn) 1085 290,000 358 0.83 1065 291,000 338 0.54 434 185,000 257 0.60 365 40,000 931 1.36 285 150,000 207 0.35 248 100,000 26
Slide 15: Market Position – FY 2007-08 Insurance Sales
Market Position – FY 2007-08 Insurance Sales (US $ Mn) Individual New Business Individual Policies (‘000) Company Premium (FY 2007-08) (FY 2007-08) ICICI Prudential 1,671 2,913 Bajaj Allianz 1,411 3,744 SBI Life 663 926 HDFC Standard Life 554 949 Reliance Life 468 1,074 Birla Sunlife 428 688 Max New
Slide 16: MNYL – Key Highlights
MNYL – Key Highlights 9 Mn Policyholders AFYP US$ 2 Bn by 2011 by 2011 200,000 Agents 600 Sales Offices, by 2011 400 locations by 2011 US$ 1 = INR 40 16
Slide 17: MNYL – Key Highlights
MNYL – Key Highlights Quarter Ended Q-o-Q Year Ended Y-o-Y Key Business Drivers Unit Mar-08 Mar-07 Growth Mar-08 Mar-07 Growth a) Sales Value (Annualized first year premium) US$ Mn 143 79 81% 419 243 73% b) Average case size US$ 519 577 -10% 549 547 1% c) Case rate per agent per month No. 1.50 1.58
Slide 18: MNYL – Growth Strategy
MNYL – Growth Strategy n Continue to focus on protection oriented, long tenor products and enhance product offerings n Grow from 38,500 agents to 200,000 agents while optimizing on costs by agency segmentation n Expand Footprint – Pan India presence with 600 offices covering over 450 locations n Exp
Slide 19: Max Healthcare
Max Healthcare www.maxhealthcare.in 19
Slide 20: Indian Healthcare
Indian Healthcare Key Drivers n Shift to Lifestyle-Related diseases Indian Healthcare industry expected to grow at a 15% n Growing Middle class CAGR till 2012 to contribute 6.1% of GDP n Changing Spending Patterns n Infrastructure Needs n Health Insurance n Medical Value Travel Healthcare Industry 2
Slide 21: Max Healthcare Model
Max Healthcare Model Heart and Vascular Neurosciences n Heart and Vascular Institute Joint Replacement and Orthopaedics n Super Speciality Hospital TERTIARY Obstetrics and Gynaecology Paediatrics Surgery and inpatient facilities High-end Diagnostics: n Hospitals – 4 MRI, CT SECONDARY
Slide 22: Max Healthcare Credo
Max Healthcare Credo Build Passion Trust Deliver world-class healthcare with a Vision service focus, by creating an institution committed to the highest standards of medical & service excellence, patient care, scientific knowledge & medical education Create unparalleled standards of medical & servic
Slide 23: Max Healthcare – Management Team
Max Healthcare – Management Team Name Profile 23
Slide 24: Max Healthcare – Key Physicians
Max Healthcare – Key Physicians Name Profile 24
Slide 25: Key Differentiators
Key Differentiators n Comprehensive, integrated and world-class healthcare services with state-of-the-art infrastructure and facilities n Proven reputation in Medical Quality and Service Excellence. n Seamless delivery of services at every level of care n Established brand name throughout India with
Slide 26: Key Differentiators
Key Differentiators PATIENT FOCUS SYSTEMS AND CLINICAL PROTOCOLS LEADERSHIP & MANAGEMENT STANDARDS EVIDENCE BASED MEDICINE CONTINOUS MEDICAL EXCELLENCE PROFESSIONAL DEVELOPMENT ACCREDITATION INFECTION CONTROL & MONITORING PATIENT SAFETY OF TRIGGERS AUDITS, MEASURES & PATIENT FEEDBACK 26
Slide 27: Accreditations and Awards
Accreditations and Awards Express Healthcare Excellence Awards (2007 – 08) “Innovative Marketing Practices” First in North India to get NABH on Feb. 6th, 2007 “Best Managed Healthcare Program (Health Insurance/TPA)” 27
Slide 28: Max Healthcare – Key Highlights
Max Healthcare – Key Highlights Fact Sheet Shareholding pattern Healthcare Facilities 8 Number of Outstanding Shares 237,094,548 Physicians 1,250* Max India Limited 70.1% Other Support Staff 2,700 Patient Base Over 560,000 Patient Transactions Over 135,000 pm Beds 770 ICU Beds 196 OTs 20 Cathlabs 3
Slide 29: Max Healthcare – Key Highlights
Max Healthcare – Key Highlights 29
Slide 30: Tertiary Care Facility, Saket [South Delhi]
Tertiary Care Facility, Saket [South Delhi] MAX HEART & VASCULAR INSTITUTE (December 2004) n 200 patient beds (including 56 critical care beds) n 3 OTs, 2 Cardiac Catheterization Labs n Post Surgery Critical Care Unit n High Dependency Unit n Apex and Advanced Coronary Care n Exclusive well equipped
Slide 31: Tertiary Care Facility, Saket [South Delhi]
Tertiary Care Facility, Saket [South Delhi] MAX SUPER SPECIALITY HOSPITAL (May 2006) n 188 beds (including 63 critical care beds) n 7 OTs, 20 Consult Chambers n Tower Specialties – Orthopaedics, Neuro Sciences, Obstetrics & Gynaecology and Paediatrics n Brain Suite (first in Asia) and Intra Operativ
Slide 32: Secondary Care Facility [ Delhi ]
Secondary Care Facility [ Delhi ] PITAMPURA PATPARGANJ (February 2002) (May 2005) (North Delhi) (East Delhi) 90 inpatient beds 147 inpatient beds 2 OTs 3 OTs Lithotripsy Mother and Child care Mother and Child care Orthopaedics Non-Invasive Cardiology General Surgery Plastic and
Slide 33: Secondary Care Facility [ Suburb of Delhi ]
Secondary Care Facility [ Suburb of Delhi ] GURGAON NOIDA (July 2007) (August 2002) (Suburb) (Suburb) 108 Inpatient beds 39 inpatient beds 3 OTs 2 OTs Ophthalmology (Anterior and Posterior) Mother and Child care Woman and Child (including Infertility) Non-Invasive Cardiology Medica
Slide 34: Speciality Centres – Panchsheel [South Delhi]
Speciality Centres – Panchsheel [South Delhi] OPTHALMOLOGY AND DENTAL CARE SPECIALIST CONSULTS AND (November 2005) HIGH-END DIAGNOSTICS (August 2006) Lasik, OPD and Diagnostics GP and Specialist Consults Dental – 3 chambers Full Diagnostics (including MRI) Support Services and Offices Ne
Slide 35: Second Phase of Expansion
Second Phase of Expansion National Capital Region Max Balaji Hospital – Patparganj Max Hospital – Shalimar Bagh Tertiary Care Tertiary Care / Multi-Speciality n Around 270 inpatient beds with 6 OTs and 1 n Potential Bed Capacity around 300 Beds Cathlab – Launch expected by August 2009 n Expected lau
Slide 36: Max Healthcare Project Cost and Funding
Max Healthcare Project Cost and Funding n Max India Equity Current – $42 Mn Future – $13 Mn Capital n Warburg Pincus – $35 Mn US$ 108 million n IFC, Washington – $13 Mn n Other Foreign Investors – $5 Mn Preference Project Cost Capital n IFC, Washington US$ 275 million US$ 62 million n Indian Ban
Slide 37: Growth Strategy
Growth Strategy n Deliver service focused, world-class healthcare by creating institutions committed to the highest standards of medical and service excellence n Enhance Service Offerings – Organ Transplant, Oncology, Cord Blood Banking, Stem Cell Research… n Grow with a Flexible Expansion Program –
Slide 38: Max Speciality Products
Max Speciality Max Speciality Products Products www.maxindia.com 38
Slide 39: Global BOPP Industry
Global BOPP Industry Key Drivers n Global flexible packaging industry market size US$ 50 billion, of which BOPP Films contribute 70% n Growth of flexible packaging Industry, nearly 15% n Competitive advantage of BOPP films over Global Per Capita Consumption of BOPP Film other plastics and traditiona
Slide 40: Business Evolution… into Value Added Products
Business Evolution… into Value Added Products Speciality Metallised Commodity Coated Films Foils (Preferred) Films Packaging, Packaging, Packaging, Packaging, Lifestyle, End Use Industrial, Lamination, Lamination, Industrial Apparels Textiles Capacitors* Industrial, Max Speciality Products is much m
Slide 41: Existing Infrastructure / Operations
Existing Infrastructure / Operations n Plant location : Near Chandigarh (250km North of Delhi) n Land : 26 Acres (Additional land being acquired) n Offices : Chandigarh, Delhi, Mumbai, Kolkata, Hyderabad, Chennai n Plant Capacity : 29,000 TPA – 3 BOPP Film Lines, 3 Metallizers, 5 Coating Lines n Bus
Slide 42: Max Speciality Products
Max Speciality Products Differentiators n Manufacturer/Supplier of Niche (high margin) and High Barrier Speciality polymer films n Pioneer in introduction of value added products / technology in India n International market reach with demonstrated export track record n Long term relationship with Bl
Slide 43: Max Speciality Products – Key Highlights
Max Speciality Products – Key Highlights Revenue & Profitability Trend (US$ Mn) 100 8 6.1 75 6 Track Record of Strong 2.9 50 2.4 2.5 4 Performance… 25 2 30.8 33.6 41.5 76.5 0 0 2004-05 2005-06 2006-07 2007-08 Revenue PBT Quarter Ended Q-o-Q Year Ended Y-o-Y Key Business Drivers Unit Growth Growth Ma
Slide 44: Max Neeman Medical International
Max Neeman Medical International www.neeman-medical.com 44
Slide 45: Indian Clinical Research Industry
Indian Clinical Research Industry Indian Clinical Trials Industry - US$ 220 Million Key Drivers n Huge Patient Population base with Therapeutic Diversity n Cost Arbitrage Industry Projected to grow to US$ 1.3 Billion by 2012... n Huge Talent Pool Need availability gap in years to come n Data Process
Slide 46: Max Neeman Medical International Business Overview
Max Neeman Medical International Contract Research Organization (CRO) Business Overview n Service offerings include… Project Management Site Management Data Management, includes Bio-Statistics and Report Writing Monitoring Services Clinical Trial Material Supply Chain Management Services n
Slide 47: Neeman – Select List of Clients
Neeman – Select List of Clients 47
Slide 48: Max HealthStaff International
Max HealthStaff International www.maxhealthstaff.com 48
Slide 49: Max HealthStaff International
Max HealthStaff International Max HealthStaff International Limited is a training and healthcare staffing company, founded on world-class quality and service excellence offering trained Indian professionals to healthcare institutions in India and abroad Big Gap in Demand/Supply of Healthcare Resourc
Slide 50: Max HealthStaff International
Max HealthStaff International Business Overview n Annuity based revenue model with cash inflows expected for periods upto 36 months for each placed candidate n 7 Sourcing and Training centers across Delhi, Chandigarh, Kerala and Chennai n Alliance with leading healthcare staffing companies in US n 6
Slide 51: Disclaimer
Disclaimer This presentation has been prepared by Max India Limited (the “Company”). No representation or warranty, express or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in the presentation. The past performan
Slide 52: MAX INDIA LTD.
MAX INDIA LTD. Max House, Okhla, New Delhi – 110 020 Phone: +91 11 26933601-10 Fax: +91 11 26933619 Website: www.maxindia.com May 2008 52