Max India Limited - Max Financial Services · Max India Limited is a multi-business corporate,...
Transcript of Max India Limited - Max Financial Services · Max India Limited is a multi-business corporate,...
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Max India Limited
Investor Presentation
DisclaimerThis presentation may contain statements that are forward looking. These statements are basedon current expectations and assumptions that are subject to risks and uncertainties. Actualresults could differ materially because of factors listed in the management discussion andanalysis section of our Annual Report. We do not undertake any responsibility to update anyforward looking statements nor should this be constituted as a guidance of future performance.
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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 also maintains interests in Speciality PlasticProducts for the packaging industry and Healthcare Staffing.
Core Others
VISION
“To be one of India’s Most Admired Corporates for Service Excellence”
MISSIONn Establish niche service businesses in Life
Insurance, Healthcare and Clinical Researchn Life Insurance and
Healthcare……..convergence!n Rank amongst top 3 players in each nichen Partner with best-in-class world leadersn Create service excellence in all businesses
Max India – An Introduction
BSE Scrip Code: 500271, NSE Ticker: Max, Bloomberg: Max IN
www.maxindia.com
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Protecting Life through Life Insurance
Caring for Life through Healthcare
Improving Life through Clinical Research
Max India – Life ….. Our Focus
www.maxnewyorklife.com
www.maxhealthcare.in
www.neeman-medical.com
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Track record of successful international Business Partnerships…over last 20 years
Pharmaceuticals Gist Brocades, The Netherlands
ElectronicComponentDistribution
Motorola, USA
Avnet Inc, USA
Mobile Telephony Hutchison Telecommunication Ltd, Hong KongHutchison
Plating Chemicals Schering AG, GermanyAtotech Deutschland GmbH, Germany
Communication Services Lockheed Martin Global
Telecommunications, USA
COMSAT Comsat Investment Inc
ATOTECH
Medical Transcription Healthscribe Inc., USA
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Revenue
Profitability
Investments
Share Price and Capitalization
n Consolidated revenue at Rs. 1343 CroreNet Sales at Rs. 128 Crore Up 19%Services Revenue at Rs. 1078 Crore Up 93%
n Consolidated cash generated from operations at Rs. 485 CroreUp 321%
n Current share price is over Rs. 1100
n Market capitalization is over Rs. 4000 Crore
n Group Assets Under Management at Rs. 1821 Crore Up 45%
Max India – Key Financial Indicators (9M’FY07)
Reservesn Max India Ltd., the parent company, has reserves of Rs. 971
Crore
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Max India – Balance Sheet*
Reserves – 971Sources of Funds
Share Capital – 36 Loan Funds – 227
Application of Funds
Business Investments – 739
Net Current Assets – 45
Fixed Assets – 113
Rs. Crore
Cash and Liquid Investments – 337
*As at December 31, 2006
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Rs Crore
Investment in Core Businesses
Current stake of Max India* Life Insurance – 74%# Healthcare – 73%
BusinessPlanned outlay for
the business
Current Equity Investment
by Max India
Peak Equity Investment
by Max India
Life Insurance * 1000 518 735
Healthcare # 700 165 270
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Max India – Shareholding Pattern
FDI – Warburg Pincus17%
FII – Warburg Pincus11%FII – Others
14%
Others17%
Promoter Group – Analjit Singh41%
Number of Outstanding Shares as on December 31, 2006 – 35,980,411
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Max India Board Recommends Stock Split
One Equity Share of par value Rs. 10/-each to be split into 5 Equity Shares
of par value Rs. 2/- each
Shareholder’s Extra-ordinary General Meeting for approval on February 26, 2007
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Max India – Board of DirectorsMr. Analjit Singh – Chairman
Dr. S.S. Baijal
Mr. N.C. Singhal
Mr. Ashwani Windlass
Mr. Bharat Sahgal
Mr. N. Rangachary
Mr. Piyush Mankad
Mr. Rajesh Khanna – Warburg Pincus
Mr. B. Anantharaman – Joint Managing Director
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Enable retention of patient trafficEnable ‘start-to-finish’ comprehensive, seamless care: Consult and Diagnostics,
Diagnostic tests, pre-operative work up, operations, post-operative care
Max Healthcare Model
Tertiaryn Heart & Vascular Instituten Super Speciality Hospital
Heart and VascularNeurosciencesJoint Replacement & OrthopaedicsObstetrics and GynaecologyPaediatrics
Secondaryn Hospitals – 4n Speciality Centres – 2
Surgery and inpatient facilitiesHigh-end Diagnostics:MRI, CTDoctor ConsultationEye and Dental Care
Primary n Clinics/Implants – 9Specialist doctor consultation and a full time nurse.Basic diagnostics like Pathology Collection
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VISIONDeliver world class healthcare with a service focus, by creating an institution committed to the highest standards of medical & service excellence, patient care, scientific knowledge and medical education.
MISSION
GOALS• Profitable without profiteering.• Seamless linkage between secondary and tertiary care.• Innovate to address wider market.
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 ; Principal choice for physicians ; Never ending focus on medical and service excellence ; Build lasting customer relationships ; Primary, Secondary and Tertiary care through Co. managed / partnership; No franchising.
VALUES & BELIEFS OPERATING PRINCIPLESMETRICS &
STANDARDSPERFORMANCEMGMT PROCESS
• Create unparalleled standards of Medical & Service Excellence• Care provider of FIRST CHOICE• Principal Choice for Physicians• Ethical Practices • Create National Centre of Excellence for select Super Specialties.• Build towards international ‘reach’ by creating patient confidence through
professional skills, research and technology
• Competence rating• Potential analysis• PSC model• Balanced scorecard• Performance / Risk linked
reward.
• Caring • Excellence• Integrity
- Personal- Professional
• Openness/Transparency• Teamwork• Knowledge • Win-win partnerships
• Courtesy & Caring always• Customer comes first• Do it right first time• International image standards• Efficient process management• Direct & open communications • Create trust• Fun at work• Compliance
• ISO 9001 : 2000• JCIA Accreditation• Credentialing / Grant
of privileges• Employee productivity• Employee Engagement survey• Service Dashboard - Sparsh• NABH Accreditation• NABL certified Lab system.
INITIATIVES• WHAT- 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
Vision – MissionBuild TrustPASSIONKey Differentiators
Focused NCR centric delivery – for operational excellenceClose to customer – geographyComprehensiveness of medical services (except organ transplant and radio therapy)Leadership in 5 super-specialties in tertiary care
-‘Star’ physicians supported by a group of high quality physiciansEthicsMemorable brand experience-‘Star’ and quality physicians-Infrastructure and equipment-No surprises – cost of care, pricing, medication-Signage-Look – feel – smell - touch
Innovation to bring in walk-in customers-Location location-Max Health Plan under roll-out-Other new programs ie Golden Years, Life Membership, Prepaid
High quality nursing and paramedic care supported by nursing and paramedic college
Technology and IT (in 18 months)Extensive emphasis on training
Key Public MessagesMedical ExcellenceService Excellence – Total ExperienceIn your community - near youHigh-end tertiary care in Private
sectorComprehensivenessReferral system – National & International
Value for moneyPartnering with medical communityCaring place to work Corporate Social Responsibility
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Mr. Analjit Singh Chairman and Managing Director
Mr. B Anantharaman Joint Managing Director, Max India Limited
Dr. Ashok Seth
Mr. KK Mathur
Dr. RP Soonawala
Mr. Aman Mehta
Mr. Anuroop Tony Singh
Mr. Rajesh Khanna Warburg Pincus
Max Healthcare – Board of Directors
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Indian HealthcareIndian Healthcare Industry:n Indian healthcare industry – Currently estimated at about $33 Billion
Growing at 12% to 15% per annumExpected to be over $65 – 70 Billion by 2012, mainly driven by private sector investments
n Over 1 Billion people, spread across different economic classes
n Target Segment – More than 200 million upper and middle classGrowing at over 4% per annum, with combined annual income of over $182 Billion
Health expenditure in India by funding sources:
Majority of healthcare spending
in India is on self pay…Self-pay
59%
Government25%
Municipal Bodies
8%
Employers6%
Foreign Aid2%
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Current Facilities
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MAX HEART AND VASCULAR INSTITUTE – SAKET [South Delhi]n 250 patient bedsn 3 Operation Theatres, 2 Cardiac
Catheterization Labsn Total covered area of approx.150000 sq. ft.n Post Surgery Critical Care Unitn High Dependency Unitn Apex Coronary Caren Advanced Coronary Care Unitn Exclusive well equipped ‘Observation Bay’
and ‘Post Cath. Recovery’n Nuclear Diagnostic Services with Variable
Angle Dual Head Gamma Cameran Centralized Emergency Command with
Advanced Cardiac Life Support Ambulancesand Air Evacuation Service.
n Max Institute of Allied Medical Sciences(High-end General Surgery)
Operational since January 2005
Current Facilities
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n 225 beds (including 70 critical care beds)
n To include:
7 OTs, 20 Consult Chambers
Tower Specialties – Orthopaedics, NeuroSciences, Obstetrics & Gynaecology andPaediatrics
Brain Suite (first in Asia) and intraoperative MRI
DSA Lab (for Neuro Sciences)
Emergency Services
High end Radiology facilities with 64 sliceCardiac CT
MAX SUPER SPECIALITY HOSPITAL – SAKET [South Delhi]
Current Facilities
Operational since June 2006
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SECONDARY CARE MAX HOSPITALS OPERATIONAL AT…
Current Facilities
PITAMPURA(February 2002)(North Delhi)
100 inpatient beds2+1 OT, 1 LRLithotripsyMother & Child careNon-Invasive CardiologyPlastic and Reconstructive surgeryPhysiotherapyFull range diagnosticsPHP, OPD and Dentistry
NOIDA(August 2002)(Suburb)
40 inpatient beds2+1 OT, 1 LRMother & Child careNon-Invasive CardiologyLaparoscopic SurgeryOrthopaedicsENT, OphthalmologyUrology & NephrologyFull range diagnosticsPHP, OPD and Dentistry
PATPARGANJ(May 2005)(East Delhi)
145 inpatient beds2+1 OTMother and Child careOrthopaedicsGeneral SurgeryCritical care incl. DialysisNon-invasive Cardiology (incl. Cardiac Catheterization Lab)ENT, OphthalmologyOther allied specialties
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SPECIALITY CENTRES – PANCHSHEEL [South Delhi]
Current Facilities
OPTHALMOLOGY AND DENTAL CARE(November 2005)
Lasik, OPD and DiagnosticsDental – 3 chambers, OPG and LabSupport Services and Offices (N & S)
SPECIALIST CONSULTS & HIGH-END DIAGNOSTICS (August 2006)
GP & Specialist ConsultsFull Diagnostics (incl. MRI/CT)Neurology (EEG and EMG)Preventive Health and Chronic CarePhysiotherapyMinor Procedures and Emergencies
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Revenue (9M’FY07) Rs. 176 Crore, 90% y-o-y growthOccupancy 59% (quarter ended Dec’06)Employees 2100Physicians 1000 (includes over 350 on Rolls)Corporate Clients 425Patient Base Over 400,000Patient Transactions Over 100,000 per monthBeds 850ICU Beds 200OTs 21Cathlabs 3MRIs 4CTs 5
Fact Sheet
Medical/Clinical Collaboration with Singapore General Hospital
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Upcoming Facilities
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n Max Hospital – Gurgaon
n 100 bed Hospital with 2 OTsn Tower Specialties to include:
Ophthalmology (Anterior and Posterior)Woman & Child (including Infertility)OrthopaedicsNephrology and UrologyPlastic and Reconstructive SurgeriesGeneral and Minimally Invasive surgeriesLaunch by June 2007
Upcoming Facilities
n Clinics & Referral tie-ups at key locations for patient flow intohospitals
9 Centres in and around Delhi/NCR by 2009 with a capacity of 1500-1600 beds
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Second Phase of Expansion
n 250-300 Inpatient beds with 6 OTs and 1 Cathlab – Before end of 2008
n Tower specialties to include:OncologyIVFOrthopaedics & Joint ReplacementNeurosciencesCardiac CareCritical Care
Tertiary CareMax Balaji Hospital – Patparganj
Max Hospital – Saket South Block
n 85 Inpatient beds with 2 OTs – April 2009n Obstetrics & Gynaecologyn Paediatrics
n 100 Inpatient beds – Before end of 2008n Emergency & Trauma care n Non–invasive Cardiologyn Joint Replacement & Orthopaedics MISn All support Specialities
NCR Outside NCR
Tertiary Care
High-end Secondary CareMax Hospital – Dehradun
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Max Healthcare – Outlook
Cash Breakeven by FY 09
Rs.
Cro
reRevenue
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135
245
565
635680
FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
440
345
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Max Healthcare Project Cost and Funding
Project Cost
Rs. 700 Crore
Equity
Rs. 425 Crore
Debt
Rs. 275 Crore
n Max India – PromotersCurrent – Rs. 165 CroreFuture – Rs. 106 Crore
n Warburg Pincus – Rs. 140 Crore
n Other Foreign Investors –Rs. 14 Crore
n HDFC – Rs. 105 Crore
n Other Indian Banks and Financial Institutions –Rs. 170 Crore
Debt – Equity Ratio: 0.64
Phase – 1
Second Phase of Expansion to cost Rs. 200 Crore
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n Joint Venture between Max India and New York Life International [ NYL ]
n NYL, one of Fortune 100 companies provides insurance domain expertise
n NYL is one of the oldest mutual life insurance company in the US with over $200billion in assets under management
n Max India contributes local market understanding and managing regulatoryenvironment
n Robust business performance – Peak equity investment to be Rs. 1000 Crore
Max New York Life Insurance [ MNYL]
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ExcellenceHonestyKnowledge
MNYL road map to becoming India’s most admired Life Insurance Company
Key Public Messages
A trusted life insurance specialistCustomer centricFinancially responsible and strongA great place to workAn admired member of the community
VISION Become the most admired Life Insurance Company in India
MISSION
GOALS1 Billion $ in Premiums in 10th yearIRR–20% plus; Dominate MDRT in India; Profitable by 2008
KEY
OBJECTIVES
STRATEGIES
WHAT – Comprehensive suite of products, competitive pricing, extensive distribution, persistency, customer service excellence, profitable portfolios
HOW – Talented People, Professional & Productive Agents, Performance Metrics, Leverage Technology, Teamwork, Customer Centric, Innovative Distribution and Marketing
INITIATIVESWhat-When-Who-How-Cost linkage plans at Departmental and Individual levels
VALUES & BELIEFS OPERATING PRINCIPLES METRICS & STANDARDS
PERFORMANCE MGMT PROCESS
Caring IntegrityTeamwork
Customer comes firstInternational quality standardsDo it right the first timeFact based decisionsBias for result oriented actionFinancial strength & disciplineDirect and open communicationRespect Max & NYLI values & parentageFun at work
InputOutputExternalInternalAbsoluteRatios
GMPR RatingsTEC/TTR – TemplatesPrimary, Shared and ContributoryBalanced scorecardCore, Functional and Leadership Competencies
Part of top quartile new Life Insurance CompaniesNational PlayerBrand of FIRST choiceEmployer of ChoicePrincipal of Choice for Agents
Key DifferentiatorsFinancial Strength & SecurityQuality of agentsFlexible ProductsService ExcellenceFair Terms of Business
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Mr. Analjit Singh Chairman
Mr. B Anantharaman Joint Managing Director, Max India Limited
Mr. N. C. Singhal
Mr. Rajesh Khanna Warburg Pincus
Mr. Joseph Gilmour
Mr. Fred Sievert
Mr. Anuroop Tony Singh
Mr. Ravi Akhoury
Mr. Gary R. Bennett Chief Executive Officer & Managing Director
Mr. Sunil Sharma Executive Director & Chief Operating Officer
MNYL – Board of Directors
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Indian Life Insurance Industry An Opportunity
Strong Growth to be driven by…
n Low Penetration Level
n Increasing Per Capita Income
n Increasing Awareness
n Better Distribution
n Availability of Multiple Products
n Increased Life Expectancy
Strong GDP growth to further expand the industry potential
Life insurance premium as % of GDP
1.3 1.82.5 3.1 3.5 3.6
4.1
6.07.1 7.3
8.3 8.6 8.9
11.2
2.0
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Premium per capita ($) adjusted for PPP
88 143411
883
1,3431,6721,677 1,732
2,0792,337 2,471
2,798
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1) Full Suite of products with a focus on protectionn Long Tenor products (Average Tenure – 25), Young customer base (Average Age – 34)n Unit Link contributes over 67% of total sales of the Company for the period Jan’06 – Dec’06
2) Build best in class agencyn Productivity higher than the competitionn Comprehensive in-house training (over 200 trainers) n Over 400 hours of training
3) Wide geographic coveragen 132 offices across 94 locations
MNYL’S Strategy to build a Strong Life Insurance Business
n 121 new agency offices planned by 2008n Multi-level marketing alliances continues to perform well… working at over 300 locations
n Ranks 3rd amongst private players in terms of number of policies soldSold over 1.3 Mn policies since inception
n MNYL to focus on developing alternate distribution channels having wide reach anddeep-rooted distribution network
n Partnership with 17 banks, current access covers 450+ branches across 50+ locations
n Amongst top global MDRT in 2006 with around 350 agents qualifying for the league
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7) High embedded value / appraisal value creation
6) Strong customer trust and credibilityn Balanced investment approach with a very long term view
64% of traditional portfolio consists of long tenor government paper
29% in AA+ and better corporate bonds
n No asterisks in advertisingn Honest illustration
Controlled centrally Sent along with policy
MNYL’S Strategy to build a Strong Life Insurance Business
4) Among the top private Indian life insurers with paid up capital base of Rs. 707 Crore
n Equity portfolio performance better than the benchmark*
*Benchmark Index: CNX 500
n First life insurer to be awarded the ISO 9000 : 2001 certificationn 6 sigma program underwayn Balanced scorecard approachn Good Audit & Compliance orientation
5) Strong quality orientations to business
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Protection Oriented, Longer Tenor Life Insurance
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1DEFERRED ANNUITY
22MONEY BACK
30UNIT LINKED
4TERM
25WHOLE LIFE
PROPORTION OF POLICIES (%, by
number)PRODUCT TYPE
Tenure (Years)
Age of Insured(Years)
25 34
MNYL Average MNYL Average
17
22
40
As on Dec 31, 2006
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3523
12
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ENDOWMENT 18 24
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Company Individual New Business Premium (Apr'06-Dec'06)
Policies (‘000)(Apr'06-Dec'06)
ICICI Prudential 2302 1145Bajaj Allianz 1446 928HDFC Standard Life 754 284SBI Life 601 293Max New York Life 528 386Aviva 421 188Birla Sunlife 420 208Tata AIG 358 283Reliance Life 331 220All Others 746 361
Total Private Life Insurers 7907 4296
MS of Private Players (%) 30 22
Market Position – 2006-07 Insurance Sales (Rs. Crore)
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Source: Insurance Regulatory & Development Authority, Adjusted to include only 10% of Single PremiumAll Others include: Kotak Life, ING Vysya, Metlife, Shriram Life, Sahara, Bharti AXA, 1 US$ = Rupees 45
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Established Ourselves amongst the Leading Agency Sales Force
Source: IRDA Journal, media reports and team inputs
New Business Apr - Dec 2006
(Agency) (Rs. Crore)Agents Premium per Agent * (Rs.) Cases per Agent *
1611 130,000 13771 0.8
940 109,000 9580 0.7
418 17,490 26555 1.6
415 65,000 7093 0.3
301 25,000 13365 0.6
282 30,000 10433 0.7
207 11,000 20953 1.1
204 12,500 18172 0.7
176 21,500 9112 0.4
161 35,000 5115 0.4
147 14,000 11684 0.5
69 10,000 7624 0.3
Adjusted Single premium
* In terms of highest new business premium (Agency)
Rank 3 Rank 1Rank 1
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MNYL Footprint
Actual customer base spread
over 200 cities
Cities OfficesOwn 87 122
Franchisees 7 10
Delhi
Hyderabad
Bangalore
Ahmedabad
Mumbai
Chennai
Kolkata
Jaipur
Surat
Noida
Gurgaon
Rajkot
Jodhpur
Coimbatore
Udaipur
Aurangabad
Baroda
Cochin
Trivandrum
Thane
IndoreNagpur
ChandigarhPunjab
Visakhapatnam
Wide Reach EstablishedFaridabad
Mangalore
Lucknow
Pune
Nasik
Dehradun
Vijaywada
Bhopal
Bhubaneswar
31 Offices
Dedicated to Rural Business
Meerut
Overall Presence
94 132
Jamshedpur
HO
Patna
Dehradun
RanchiAsansol
Raipur
Siliguri
Guwhati
KarnalKanpur
Rajahmundry
Madurai
Panaji
BhavnagarVapi
Kohlapur
Gwalior
Varanasi
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Max New York Life Insurance
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Neeman Medical International Contract Research Organization (CRO)
Neeman Medical International – Service offerings include
n Site Management
n Project Management
n Data Management, includes Bio-Statistics and Report Writing
n Monitoring Services
n Clinical Trial Material Supply Chain Management Services
Neeman Medical International is a value added Clinical Research ServiceOrganization. Neeman’s goal is to provide highly competent GCP/ICHcompliant Investigators in several geographies, who have access to patientsand dedicated Clinical Research Coordinators. This allows Neeman toaccelerate patient enrollment and generate high quality data
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Neeman Medical InternationalBusiness Highlightsn 6 out of top 10 pharma companies are Neeman’s customers
Phase – IV award in the Data Management space from one of the top 3 pharma majors.
n Discussions underway with pharma majors for making Neeman a preferred serviceprovider
Preferred provider relationship with 3 Pharma majors in place
n Alliances with CROs in Europe for business expansion
n Client base doubles up from 14 to 28
n Number of awards swell 177 % from 22 in previous year to 61 up to Dec’ 06
n Order Book pipeline of over $6.5 Million
n Network of 600 GCP/ICH Principal Investigators with access to 25,000 beds and 6-8million patients
n Impressive operating standardsSuccessfully completed 4th US FDA-GCP audit for highest enrollmentsPatient retention rate continues to be over 98%
n Favorable Patent Regulations in India to catalyze exponential growth
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Neeman – Select List of Partners
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Max HealthStaff International
Max HealthStaff International Limited is an international healthcare staffingcompany, founded on world-class quality and service excellence.
It is committed to becoming India's leading healthcare staffing company,offering professionals to healthcare institutions in India and abroad.
Big Gap in Demand/Supply of Healthcare Resources in US, particularly nurses…projected to increase further
Current Shortage of Nurses: 200,000Increasing every year – Expected to beover 400,000 by 2008 and 850,000 by 2020
Shortage of allied healthcare staffingresources such as occupational andphysical therapists, pharmacists,radiographers etc. estimated to be morethan 360,000 by 2008
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n First of its kind large scale corporate business initiative in India for providing end toend placement solutions. Has begun placement of nursing staff, will soon expandinto other allied healthcare resources
n Annuity based revenue model with cash inflows expected for periods upto 36months for each placed candidate
n 6 Sourcing and Training Centers across Delhi, Chandigarh and KeralaChennai sourcing and training centre to commence operations soon
n Customer ProfileLeading Healthcare staffing companies, including publicly listed companies in USNon-exclusive contracts provides sufficient operational and strategic flexibility to thebusiness
n 50 Nurses already placed in the US – Established proof of concept
n Over 600 nurses in pipeline… growing rapidlyOver 100 NCLEX-RN cleared nurses in the pipelineNCLEX results at 85% – best in the Industry
n Monthly revenue rate of Rs. 30 Lacs…expected to grow continuously
n Currently focusing on US, will expand to Middle East shortly
Max HealthStaff International
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Max Speciality Products
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n Generates revenue of Rs. 134 Crore and PBT of Rs. 10 Crore for FY 05-06Revenue from BOPP business at Rs. 125 Crore, grows 7%Revenue from MaxFoils at Rs. 9 Crore, grows 42%
n EBITDA to net sales at 14%
n Expansion Underway…3rd Metalliser commissioned ahead of schedule in August’06, currently running at80% capacityNew BOPP capacity expansion – 20,000 TPA in advanced stage of implementationand currently on schedule – to be operational in first quarter FY07-08Expansion to cost Rs. 121 Crore…Funded 66% through debt
Max Speciality Products
Manufacturer / Supplier of Niche (high contribution) and High BarrierSpeciality polymer films.n Capture value by producing Value Added productsn Long term relationship with Blue chip customers in FMCG sectorn Pioneer in introduction of new products / technology in Indian Has a footprint in select export marketsn Industry CAGR of 20%
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