| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 3,557 | 4,316 | 4,503 | 7,137 | 3,949 | 4,686 | 5,366 | 4,266 | 5,517 | 7,020 | 8,990 | 9,760 | 5,943 | 9,327 | 6,955 | 8,962 | 3,276 | 9,323 | 8,898 | 9,934 | 9,172 | 10,189 | 12,359 | 14,897 | 11,801 | 13,375 | 8,926 | 12,396 | 12,825 | 9,799 |
| Expenses | 3,480 | 4,163 | 4,426 | 6,935 | 3,885 | 4,614 | 5,186 | 4,127 | 5,365 | 6,923 | 8,709 | 9,692 | 5,857 | 9,270 | 6,843 | 8,799 | 3,185 | 9,238 | 8,573 | 9,865 | 9,043 | 10,021 | 12,146 | 14,945 | 11,609 | 13,199 | 8,834 | 12,358 | 12,704 | 9,771 |
| EBITDA | 77 | 154 | 77 | 202 | 64 | 72 | 179 | 139 | 152 | 97 | 281 | 69 | 86 | 57 | 112 | 163 | 91 | 85 | 325 | 69 | 128 | 168 | 213 | -48 | 192 | 175 | 92 | 38 | 121 | 28 |
| Operating Profit % | 2 % | 4 % | 2 % | 3 % | 2 % | 2 % | 3 % | 3 % | 3 % | 1 % | 3 % | 1 % | 1 % | 1 % | 2 % | 2 % | 3 % | 1 % | 4 % | 1 % | 1 % | 1 % | 2 % | -0 % | 2 % | 1 % | 1 % | 0 % | 1 % | 0 % |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 8 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 9 | 9 | 9 | 10 | 9 | 9 | 9 | 9 | 14 | 11 | 9 | 13 | 10 | 15 | 20 | 21 |
| Profit Before Tax | 50 | 154 | 77 | 201 | 63 | 71 | 177 | 131 | 151 | 96 | 280 | 67 | 84 | 50 | 101 | 153 | 80 | 74 | 315 | 58 | 118 | 158 | 198 | -59 | 182 | 162 | 81 | 22 | 101 | 6 |
| Tax | 17 | 29 | 18 | 1 | 9 | 6 | 30 | 124 | -31 | 15 | 52 | -3 | 49 | 2 | 11 | 9 | 12 | 12 | 45 | 6 | 17 | -12 | 27 | -9 | 26 | 23 | 11 | -16 | 15 | 0 |
| Net Profit | 33 | 125 | 59 | 200 | 54 | 64 | 148 | 7 | 182 | 81 | 227 | 70 | 36 | 48 | 91 | 144 | 69 | 62 | 269 | 53 | 101 | 170 | 171 | -50 | 156 | 139 | 70 | 38 | 86 | 6 |
| EPS in ₹ | 0.36 | 3.08 | 1.46 | 4.88 | 1.26 | 1.56 | 3.91 | -1.34 | 4.85 | 2.10 | 6.20 | 2.13 | 0.61 | 1.15 | 2.55 | 3.41 | 1.63 | 1.49 | 6.52 | 1.33 | 2.54 | 4.29 | 4.30 | -1.28 | 3.69 | 3.26 | 1.63 | 0.91 | 2.03 | 0.12 |
Max Financial Services
Max Financial Services
1,704.60
+3.10
(0.18%)
Market Cap
58,828.26 Cr
PE Ratio
292.34
Volume
4,84,599.00
Day High - Low
1,720.70 - 1,686.20
52W High-Low
1,752.20 - 950.00
There are 1 new updates from the company1 day ago
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Key Fundamentals
Market Cap
58,828.26 Cr
EPS
9.53
PE Ratio
292.34
PB Ratio
11.05
Book Value
195.21
EBITDA
500.30
Dividend Yield
0.00 %
Industry
Insurance Sector
Life Insurance Return on Equity
6.35
Debt to Equity
0.17
Analyst Rating and Forecast
- By Refinitiv from24 analysts
Actual
Company News
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Max Financial Services Limited announces earnings conference call for February 12, 2026 at 9:00 AM IST to discuss Q3 & 9M FY26 financial results with investors and analysts.
Max Financial Services receives regulatory green light for potential merger with Axis Max Life Insurance, marking significant development in insurance sector consolidation.
Max Financial Services witnessed a significant NSE block trade worth ₹33.44 crores involving 207,569 shares at ₹1610.90 per share, indicating substantial institutional activity.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
901.85 | #1 5,70,419.92 | #1 10.40 | #1 8,98,311.90 | #1 3.86 | #1 48,320 | 17.25 | 70.49 | |
1,996.70 | 2,00,235.03 | 81.55 | 1,18,244.90 | -11.54 | 2,413 | 4.70 | 44.34 | |
703.50 | 1,51,788.28 | 82.25 | 97,385.10 | -4.54 | 1,811 | -0.74 | 33.27 | |
651.35 | 94,288.20 | 69.30 | 71,350.30 | -22.21 | 1,186 | #1 19.14 | 49.51 | |
1,704.60 | #5 58,828.26 | #6 292.34 | #5 46,497.20 | #2 -0.25 | #5 407 | #6 -95.76 | 59.82 | |
144.89 | 13,764.55 | 111.27 | 10,825.00 | -9.48 | 117 | -5.80 | 52.47 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
-0.25 %
Net Income Growth
3.38 %
Cash Flow Change
36.82 %
ROE
-29.52 %
ROCE
-28.75 %
EBITDA Margin (Avg.)
9.09 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 35,503 | 38,147 | 46,739 | 55,842 | 67,156 | 74,526 | 98,066 | 1,17,749 | 1,31,824 | 1,62,774 | 1,89,999 |
| Fixed Assets | 1,200 | 349 | 691 | 556 | 556 | 641 | 639 | 616 | 614 | 612 | 610 |
| Current Assets | 4,720 | 3,926 | 6,368 | 2,623 | 3,356 | 5,310 | 5,652 | 7,337 | 7,850 | 9,201 | 9,548 |
| Capital Work in Progress | 39 | 37 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2,851 | 2,407 | 4,683 | 52,661 | 63,245 | 68,566 | 91,766 | 1,09,794 | 1,23,356 | 1,52,959 | 1,79,841 |
| Other Assets | 31,413 | 35,354 | 41,362 | 2,624 | 3,356 | 5,320 | 5,661 | 7,338 | 7,854 | 9,203 | 9,548 |
| Total Liabilities | 35,503 | 38,147 | 46,739 | 55,842 | 67,156 | 74,526 | 98,066 | 1,17,749 | 1,31,824 | 1,62,774 | 1,89,999 |
| Current Liabilities | 4,574 | 4,418 | 5,196 | 53,204 | 64,267 | 71,705 | 94,400 | 1,12,738 | 1,27,333 | 1,57,876 | 1,82,558 |
| Non Current Liabilities | 27,010 | 31,061 | 38,460 | 36 | 57 | 3 | 60 | 526 | 523 | 528 | 1,038 |
| Total Equity | 3,919 | 2,668 | 3,084 | 2,602 | 2,833 | 2,819 | 3,605 | 4,485 | 3,969 | 4,370 | 6,403 |
| Reserve & Surplus | 3,249 | 1,912 | 2,281 | 1,766 | 2,005 | 2,093 | 3,274 | 3,866 | 3,450 | 3,797 | 5,206 |
| Share Capital | 53 | 53 | 54 | 54 | 54 | 54 | 69 | 69 | 69 | 69 | 69 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -119 | 74 | 20 | 466 | -137 | 78 | -51 | 49 | -1,866 | 986 | 610 |
| Investing Activities | -2,311 | -3,541 | -6,290 | -6,951 | -8,789 | -4,991 | -6,852 | -8,835 | -11,555 | -5,001 | -9,703 |
| Operating Activities | 2,579 | 3,802 | 6,526 | 7,534 | 8,826 | 5,452 | 6,892 | 8,496 | 9,922 | 6,104 | 8,352 |
| Financing Activities | -388 | -187 | -215 | -116 | -174 | -383 | -92 | 388 | -233 | -117 | 1,961 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 |
| Promoter | 16.99 % | 14.72 % | 14.72 % | 14.72 % | 14.72 % | 14.72 % | 14.72 % | 11.45 % | 10.15 % | 10.15 % | 6.52 % | 6.52 % | 6.52 % | 6.52 % | 3.34 % | 3.34 % | 1.74 % | 1.74 % | 1.71 % | 1.25 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 21.86 % | 21.86 % | 21.86 % | 21.86 % | 51.54 % | 21.86 % | 47.71 % | 46.60 % | 46.24 % | 47.50 % | 44.75 % | 44.72 % | 44.78 % | 45.14 % |
| DIIs | 28.11 % | 27.48 % | 26.31 % | 28.13 % | 30.91 % | 30.31 % | 30.59 % | 36.00 % | 34.06 % | 33.28 % | 35.10 % | 36.06 % | 39.92 % | 40.74 % | 44.00 % | 42.69 % | 47.30 % | 47.29 % | 47.26 % | 47.35 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 6.87 % | 6.61 % | 6.48 % | 6.43 % | 6.21 % | 6.08 % | 5.80 % | 5.64 % | 5.34 % | 5.23 % | 4.67 % | 4.21 % | 4.35 % | 4.53 % | 4.59 % | 4.65 % | 4.58 % | 4.57 % | 4.56 % | 4.53 % |
| Others | 48.03 % | 51.19 % | 52.49 % | 50.71 % | 48.16 % | 48.89 % | 27.03 % | 25.04 % | 28.59 % | 29.49 % | 2.17 % | 31.33 % | 1.50 % | 1.60 % | 1.84 % | 1.82 % | 1.62 % | 1.68 % | 1.69 % | 1.74 % |
| No of Share Holders | 0 | 63,253 | 64,363 | 70,706 | 66,724 | 69,014 | 68,088 | 69,805 | 81,463 | 67,708 | 63,966 | 59,682 | 65,260 | 67,021 | 65,804 | 68,531 | 68,062 | 80,467 | 76,239 | 75,636 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 11 Feb 2026 |  Quarterly Result Announcement | NA | 11 Feb 2026 | 1,678.50 | 1,698.50 |
| 23 Aug 2024 |  Annual General Meeting | NA | 23 Aug 2024 | 1,108.25 | 1,057.85 |
| 22 Oct 2024 | Quarterly Result Announcement | NA | 22 Oct 2024 | 1,179.60 | 1,193.30 |
| 04 Feb 2025 | Quarterly Result Announcement | NA | 04 Feb 2025 | 1,102.85 | 1,083.45 |
| 13 May 2025 | Quarterly Result Announcement | NA | 13 May 2025 | 1,157.25 | 1,294.25 |
| 07 Aug 2025 | Quarterly Result Announcement | NA | 07 Aug 2025 | 1,626.80 | 1,489.60 |
| 18 Sept 2025 | Annual General Meeting | NA | 18 Sept 2025 | 1,638.70 | 1,537.90 |
| 11 Nov 2025 | Quarterly Result Announcement | NA | 11 Nov 2025 | 1,564.70 | 1,619.10 |
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1 day ago
1 day agoDisclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)9 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Newspaper PublicationJan 23, 2026
Jan 23, 2026Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jan 07, 2026
Jan 07, 2026Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) - ESG RatingJan 05, 2026
Jan 05, 2026Closure of Trading WindowDec 26, 2025
Dec 26, 2025Board Meeting Intimation for Board Meeting Intimation For Consideration Of Un-Audited Financial Results Of The Company For The Quarter And Nine Months Ending December 31 2025Dec 26, 2025
Dec 26, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportDec 22, 2025
Dec 22, 2025Clarification On The Postal Ballot Notice Of Max Financial Services Limited (MFSL Or Company) Dated November 11 2025 Dec 12, 2025
Dec 12, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationDec 08, 2025
Dec 08, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 22, 2025
Nov 22, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotNov 21, 2025
Nov 21, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 18, 2025
Nov 18, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 13, 2025
Nov 13, 2025Submission Of Audio Recording Of Earnings Conference CallNov 12, 2025
Nov 12, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateNov 11, 2025
Nov 11, 2025Disclosure Under Regulation 30(5) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Nov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Investor PresentationNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseNov 11, 2025
Nov 11, 2025Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Nov 11, 2025
Nov 11, 2025Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Nov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 30, 2025
Oct 30, 2025Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) - ESG RatingOct 22, 2025
Oct 22, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 08, 2025
Oct 08, 2025Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) - ESG RatingOct 07, 2025
Oct 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 06, 2025
Oct 06, 2025Disclosure Under The Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI LODR) For Appointment Of Director In Axis Max Life Insurance The Material Subsidiary Of The CompanyOct 01, 2025
Oct 01, 2025Appointment of Company Secretary and Compliance OfficerSep 30, 2025
Sep 30, 2025Closure of Trading WindowSep 26, 2025
Sep 26, 2025Board Meeting Intimation for Board Meeting For Consideration Of Un-Audited Financial Results Of The Company For The Quarter And Half Year Ending September 30 2025Sep 26, 2025
Sep 26, 2025Disclosure Under The Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)Sep 24, 2025
Sep 24, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 19, 2025
Sep 19, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 18, 2025
Sep 18, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 15, 2025
Sep 15, 2025Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 - Update On Goods & Service Tax ReformsSep 05, 2025
Sep 05, 2025Disclosure Under The Extant Provisions Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015Sep 03, 2025
Sep 03, 2025Change In Director At Axis Max Life Insurance LimitedSep 02, 2025
Sep 02, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 26, 2025
Aug 26, 2025AGM Notice For The 37Th Annual General Meeting Of The Company Scheduled To Be Held On Thursday September 18 2025 At 1500 Hrs. (IST) Through Video Conference (VC)/Other Audio Visual Means (OAVM)Aug 25, 2025
Aug 25, 2025Book Closure Intimation For The Annual General Meeting To Be Held On Thursday September 18 2025Aug 25, 2025
Aug 25, 202537Th Annual General Meeting Of The Company Scheduled To Be Held On Thursday September 18 2025 At 1500 Hrs. (IST) Through Video Conference (VC)/Other Audio Visual Means (OAVM)Aug 25, 2025
Aug 25, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 25, 2025
Aug 25, 2025Reg. 34 (1) Annual Report.Aug 25, 2025
Aug 25, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 09, 2025
Aug 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 08, 2025
Aug 08, 2025Submission Of Audio Recording Of Earnings Conference CallAug 08, 2025
Aug 08, 2025Mutual Fund Holdings
Technical Indicators
RSI(14)
Neutral 59.34
ATR(14)
Less Volatile 44.20
STOCH(9,6)
Neutral 79.80
STOCH RSI(14)
Overbought 98.39
MACD(12,26)
Bullish 10.72
ADX(14)
Weak Trend 22.00
UO(9)
Bearish 62.26
ROC(12)
Uptrend And Accelerating 4.73
WillR(14)
Overbought -7.83
About Max Financial Services
Max Financial Services Limited (MFSL) is an Indian holding company that owns and manages an 87% stake in Max Life Insurance Company Limited. MFSL is part of the $4 billion Max Group and is primarily engaged in making investments in Max Life Insurance and providing management advisory services to group...more
Chairperson NameAnaljit Singh
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