| 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 |
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 | 13,376 | 8,926 | 12,396 | 12,825 |
| 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 | 13,201 | 8,834 | 12,358 | 12,704 |
| 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 |
| 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 % |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
Max Financial Services
Max Financial Services
1,564.10
-17.10
(-1.08%)
There are new updates from the company1 day ago
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Market Cap
53,979.40 Cr
EPS
9.53
PE Ratio
198.31
Dividend Yield
0.00 %
Industry
Insurance52 Week High
1,674.80
52 Week Low
950.00
PB Ratio
10.24
Debt to Equity
0.17
Sector
Life Insurance
Investment Returns
In Long Term
In Short Term
1 Year
0.00%
2 Years
0.00%
3 Years
0.00%
4 Years
0.00%
5 Years
0.00%
Analyst Rating
- By Refinitiv from22 analysts
Company News
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Max Financial Services Limited disclosed that the GST council approved exemption of individual life insurance policies from GST effective September 22, 2025. The company expects the impact on its material subsidiary Axis Max Life Insurance Limited's embedded value to be less than 1%. Max Financial believes this change will improve affordability for consumers in the pure protection business and help reduce the protection gap. The company is preparing its systems and processes for the transition.
Max Financial Services Reports 32% Growth in Value of New Business for Q1 FY26Aug 14, 2025
Max Financial Services reported strong quarterly results with individual adjusted first-year premium growing 23% and value of new business increasing 32% to INR335 crore. The company's new business margin expanded from 17.5% to 20.1%. Consolidated revenue grew 18% to INR6,194 crore while profit after tax stood at INR86 crore. The company launched Smart VIBE product, reducing ULIP share from 43% to 36%. Embedded value reached INR26,478 crore, up 20%. Managing Director Prashant Tripathy announced he will step down on September 30, with Sumit Madan taking over as CEO from October 1. The company maintained its margin guidance of 24-25% for FY26.
Max Financial Services Releases Quarterly Financial ResultsAug 09, 2025
Max Financial Services Limited published its unaudited financial results for the quarter ended June 30, 2025. The Board of Directors approved the results at their meeting held on August 7, 2025. The company made both standalone and consolidated results available on stock exchange websites (NSE and BSE) and its company website, with a Quick Response code provided for easy access. The results were also published in newspapers with the QR code and weblink included.
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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 |
|---|---|---|---|---|---|---|---|---|
882.55 | #1 5,58,940.00 | #1 11.45 | #1 8,98,311.90 | #1 3.86 | #1 48,320 | 4.07 | 49.64 | |
1,818.80 | 1,82,648.50 | 73.25 | 1,18,244.90 | -11.54 | 2,413 | 14.42 | 49.92 | |
774.35 | 1,67,462.80 | 88.77 | 97,385.10 | -4.54 | 1,811 | 14.47 | 52.98 | |
603.70 | 87,520.30 | 69.19 | 71,350.30 | -22.21 | 1,186 | #1 34.20 | 45.37 | |
1,564.10 | #5 53,979.40 | #5 198.31 | #5 46,497.20 | #2 -0.25 | #5 407 | #5 -44.58 | 47.28 |
Automatic Screeners on ScanX
Forecast
Actual
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 |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 18 Sept 2025 |  Annual General Meeting | NA | 18 Sept 2025 | 1,638.70 | 1,580.65 |
| 15 Jan 2016 |  Change Of Name | NA | 15 Jan 2016 | 0.00 | 0.00 |
| 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 |
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1 day ago
1 day agoDisclosure 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, 2025Change In Director At Axis Max Life Insurance LimitedAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance OfficerAug 07, 2025
Aug 07, 2025Appointment Of M/S. Sanjay Grover And Associates Practising Company Secretaries (Firm Regn No. P2001DE052900) Having Peer Review Certificate No. 6311/2024 As Secretarial Auditors Of The CompanyAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of AssociationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Change in Registered Office AddressAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 07, 2025
Aug 07, 2025Unaudited Financial Results For The Quarter Ended June 30 2025Aug 07, 2025
Aug 07, 2025Board Meeting Outcome for Outcome Of Board Meeting On Unaudited Financial Results For The Quarter Ended June 30 2025Aug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 30, 2025
Jul 30, 2025Intimation Of The Approval Received From The Stock Exchanges On The Application For Re-Classification Of Ms. Neelu Analjit Singh From Promoter And Promoter Group To Public Category As Per Regulation 31(A)(3) Of The SEBI (Listing Obligations And DisclosureJul 29, 2025
Jul 29, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 25, 2025
Jul 25, 2025Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011Jul 17, 2025
Jul 17, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 07, 2025
Jul 07, 2025Reporting Cyber ThreatJul 02, 2025
Jul 02, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 27, 2025
Jun 27, 2025Closure of Trading WindowJun 26, 2025
Jun 26, 2025Board Meeting Intimation for Disclosure Under Listing Regulations - Board Meeting For Consideration Of Un-Audited Financial Results Of The Company For The Quarter Ending June 30 2025Jun 26, 2025
Jun 26, 2025Appointment Of Mr. Sumit Madan As The Managing Director & Chief Executive Officer Of Axis Max Life Insurance Limited (Axis Max Life) The Subsidiary Company Of The Company Effective October 1 2025Jun 10, 2025
Jun 10, 2025Disclosure Under Listing Regulations - Grant Of OptionsJun 09, 2025
Jun 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 04, 2025
Jun 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 04, 2025
Jun 04, 2025Early Retirement Of Mr. Prashant Tripathy From The Office Of Managing Director & Chief Executive Officer (MD & CEO) Of Axis Max Life Insurance Limited (Axis Max Life Or The Company) The Material Subsidiary Of The Company
May 28, 2025
May 28, 2025Disclosure Under Listing Regulations - Grant Of OptionsMay 26, 2025
May 26, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 23, 2025
May 23, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 19, 2025
May 19, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 19, 2025
May 19, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 16, 2025
May 16, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 15, 2025
May 15, 2025Newspaper Publications Of Audited Financial ResultsMay 15, 2025
May 15, 2025Submission Of Audio Recording Of Earnings Conference CallMay 14, 2025
May 14, 2025General Update Under SEBI (LODR) Regulations 2015May 13, 2025
May 13, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseMay 13, 2025
May 13, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 13, 2025
May 13, 2025Re-Appointment Of M/S MGC & KNAV Global Risk Advisory LLP As Internal Auditors Of The Company For The Financial Year 2025-26.May 13, 2025
May 13, 2025Technical Indicators
RSI(14)
Neutral 47.28
ATR(14)
Less Volatile 35.83
STOCH(9,6)
Neutral 38.32
STOCH RSI(14)
Neutral 24.48
MACD(12,26)
Bearish -5.52
ADX(14)
Weak Trend 18.03
UO(9)
Bearish 48.17
ROC(12)
Downtrend And Accelerating -1.71
WillR(14)
Neutral -73.14
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TRUSTMF Flexi Cap Fund Direct - Growth 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 companies. Max Life Insurance is a joint venture between MFSL and Mitsui Sumitomo Insurance, offering long-term savings, protection, and retirement solutions through agency and multi-channel distribution partners. MFSL's investor base includes global financial institutions. As of March 31, 2023, MFSL had two operating subsidiaries: Max Life Insurance Company Limited and Max Life Pension Fund Management Limited. Max Life's assets under management were Rs 1,22,857 crore as of March 31, 2023, with a gross written premium of Rs 25,342 crore for the year.
Chairperson NameAnaljit Singh
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