Max India Limited — Investor Presentation 2021

Jun 22, 2021

Max India Limited

Investor Release

Q4 & FY21

www.maxindia.com

Max India : Key Highlights

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Antara **"**Who We Are"

This information was prepared by Antara Senior Living Ltd. It is not to be used or relied upon by any 3rd party without Antara's written consent.

Care at Home revenue at Rs 1.2 Cr in Q4 and closes at Rs 2.6 Cr in FY21

AACS Capital deployed till FY21 Rs 19 Cr, Committed capital for FY22 Rs 70 Cr & Peak capital requirement Rs 225 Cr

(a) Revenue reported above is on net basis after discounts

(b) Contribution is derived at by allocating all direct costs attributable to the respective business lines. [Contribution = (Gross revenue less discounts) – (Direct costs)]

Care Homes revenue doubles to Rs 0.6 Cr in Q4 sequentially q-o-q and touches Rs 0.9 Cr revenue in FY21

AACS Capital deployed till FY21 Rs 19 Cr, Committed capital for FY22 Rs 70 Cr & Peak capital requirement Rs 225 Cr

(a) Revenue reported above is on net basis after discounts

(b) Contribution is derived at by allocating all direct costs attributable to the respective business lines. [Contribution = (Gross revenue less discounts) – (Direct costs)]

MedCare business line launched in Q3FY21: First retail store launched in Fortis Hospital Gurugram in Dec'20

Key Highlights

• Comprehensive range of products across 5 key categories (over ~800 SKUs)
  • Rehabilitation
  • Respiratory
  • Mobility
  • Bathroom Accessories
  • Preventive & Wellness
• Rental option for select medical equipment
• Revenue of Rs 77 lacs in FY21
• Contribution margin ~ 11% (Rs 8 lacs) in FY21

Two Care Homes launched (Gurgaon & GK II) in the last 9 months

Gurgaon: 26 rooms with single/ twin occupancy, suites GK II: 32 rooms with single/ twin occupancy, suites

Antara Dehradun: Cumulative net sales at 142; Net collections at INR 396 Cr as of Mar'21

Cumulative sales and collection trend

Key highlights:

• • Sales: maintained a net sales velocity ~2.67 per month (for last three months)
  • •Focus on virtual meetings
  • • Resident referrals
    • •Channel partners now active in Doon
• •Pricing: Avg. sales realisation ~**Rs 13,250/**sq ft in FY21
• • Collections: Maintained a robust monthly collection trend of ~INR 7 Cr per month
• •Debt : Debt outstanding as at Mar'21 end: Rs 123 Cr

Antara Noida: Cumulative net sales at 153; Net collections at INR 32 Cr as of Mar'21

Payment plan (break-up basis units sold)

Key highlights:

• Sales: maintained a net sales velocity of ~6.33 per month (for last three months)
  • Re-oriented marketing efforts sharp focus on digital, leveraging quality of life elements of Antara
  • Healthy pipeline of hot & warm clients in place
  • Over 92% collections within time
• Pricing: Avg. sales realisation ~Rs 7,000 per sq ft in 12MFY21
• Project cost for Phase 1 (incl. Land) over next 4 years : Rs 330 Cr
• Project update: Excavation for R1 and R2 completed, Piling for R1 started, PMC on board, construction to commence from Q2FY22
• Phase 1 Project completion expected by Mar'25
• Equity Funding (including Rs 31 Cr for Phase II) :
  • Equity invested till Mar'21 : Rs 27 Cr
  • Committed capital for FY22 : Rs 40 Cr
  • Peak equity requirement : Rs 74 Cr

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 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 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 given 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 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.