| 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 |
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 | 14,899 | 11,802 | 13,376 | 8,927 |
| 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 | 14,946 | 11,610 | 13,201 | 8,836 |
| 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 |
| 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 % |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 | 1.62 |
Max Financial Services
1,040.10
-12.45
(-1.18%)
Market Cap
35,895.39 Cr
EPS
9.85
PE Ratio
144.06
Dividend Yield
0.00 %
Industry
Insurance52 Week High
1,306.45
52 Week low
864.00
PB Ratio
7.02
Debt to Equity
0.14
Sector
Life Insurance
Live Chart 
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 from19 analysts
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 |
|---|---|---|---|---|---|---|---|---|
| 745.40 | 4,71,465.33 | 10.87 | 8,64,897.70 | 8.57 | 40,916 | 16.69 | 38.89 | |
| 1,434.25 | 1,43,718.31 | 57.64 | 1,33,665.10 | 62.23 | 1,894 | 71.16 | 49.29 | |
| 629.80 | 1,35,583.52 | 76.64 | 1,02,006.60 | 42.38 | 1,574 | 14.64 | 53.60 | |
| 548.65 | 79,291.16 | 79.50 | 91,712.50 | 78.53 | 851 | 43.19 | 35.98 | |
| 1,040.10 | 35,895.39 | 144.06 | 46,618.30 | 48.32 | 393 | -59.23 | 47.19 |
Growth Rate
Revenue Growth
48.32 %
Net Income Growth
-13.12 %
Cash Flow Change
-38.45 %
ROE
-21.07 %
ROCE
-25.54 %
EBITDA Margin (Avg.)
-45.30 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| 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 |
| Fixed Assets | 1,200 | 349 | 691 | 556 | 556 | 641 | 639 | 616 | 614 | 612 |
| Current Assets | 4,720 | 3,926 | 6,368 | 2,623 | 3,356 | 5,310 | 5,652 | 7,337 | 7,850 | 9,149 |
| Capital Work in Progress | 39 | 37 | 3 | 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 | 1,53,010 |
| Other Assets | 31,413 | 35,354 | 41,362 | 2,624 | 3,356 | 5,320 | 5,661 | 7,338 | 7,854 | 9,151 |
| 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 |
| 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 |
| Non Current Liabilities | 27,010 | 31,061 | 38,460 | 36 | 57 | 3 | 60 | 526 | 523 | 528 |
| Total Equity | 3,919 | 2,668 | 3,084 | 2,602 | 2,833 | 2,819 | 3,605 | 4,485 | 3,969 | 4,370 |
| Reserve & Surplus | 3,249 | 1,912 | 2,281 | 1,766 | 2,005 | 2,093 | 3,274 | 3,866 | 3,450 | 3,797 |
| Share Capital | 53 | 53 | 54 | 54 | 54 | 54 | 69 | 69 | 69 | 69 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Net Cash Flow | -119 | 74 | 20 | 466 | -137 | 78 | -51 | 49 | -1,866 | 986 |
| Investing Activities | -2,311 | -3,541 | -6,290 | -6,951 | -8,789 | -4,991 | -6,852 | -8,835 | -11,555 | -5,004 |
| Operating Activities | 2,579 | 3,802 | 6,526 | 7,534 | 8,826 | 5,452 | 6,892 | 8,496 | 9,922 | 6,107 |
| Financing Activities | -388 | -187 | -215 | -116 | -174 | -383 | -92 | 388 | -233 | -117 |
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 |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 % |
| 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 |
Dividend History
Dividends per share (FY)
Dividend yield (FY) %
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Corporate Action
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Announcements
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011
Intimation Pertaining To Request Received For Re-Classification Of Shareholding From Promoter And Promoter Group To Public Category As Per Regulation 31(A)(3) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Intimation Pertaining To Request Received For Re-Classification Of Shareholding From Promoter And Promoter Group To Public Category As Per Regulation 31(A)(3) Of The SEBI (Listing Obligations And Disc
Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (Listing Regulations)
Disclosure Under The Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)
Updates
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
General Update Under SEBI (LODR) Regulations 2015
Announcement under Regulation 30 (LODR)-Newspaper Publication
Submission Of Audio Recording Of Earnings Conference Call
Integrated Filing (Financial)
Disclosure Under The Extant Provisions Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)
Disclosure Under The Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)
Announcement under Regulation 30 (LODR)-Investor Presentation
Announcement under Regulation 30 (LODR)-Press Release / Media Release
Board Meeting Outcome for Outcome Of The Board Meeting On Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2024
Declaration Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2024
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018
Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 - Completion Of Tenure Of Independent Director
Disclosure Under The Extant Provisions Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Clarification On Media Broadcast - Max Financial Services Limited ('Company')
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Announcement under Regulation 30 (LODR)-Newspaper Publication
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Announcement under Regulation 30 (LODR)-Newspaper Publication
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Disclosure Under SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('Listing Regulations') On Receipt Of Show Cause Notice From SEBI In The Matter Of Max Financial Services Limited.
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Disclosure Under SEBI (Listing Obligations And Disclosure Requirements Regulations), 2015 ('Listing Regulations') On Receipt Of Show Cause Notice From SEBI In The Matter Of Max Financial Services Limited
Announcement under Regulation 30 (LODR)-Change in Directorate
Submission Of Audio Recording Of Earnings Conference Call
Announcement under Regulation 30 (LODR)-Newspaper Publication
Announcement under Regulation 30 (LODR)-Investor Presentation
Announcement under Regulation 30 (LODR)-Press Release / Media Release
Disclosure Under The Extant SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Regarding Proposal For The Inclusion Of The Word 'Axis' As Part Of The Corporate Name And Brand Identity Of Max Life Insurance Company Limited
Announcement under Regulation 30 (LODR)-Change in Directorate
Board Meeting Outcome for Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Financial Results For The Quarter And Half Year Ended September 30, 2024
Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Financial Results For The Quarter And Half Year Ended September 30, 2024
Announcement under Regulation 30 (LODR)-Newspaper Publication
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Technical Indicators
RSI(14)
Neutral 50.03
ATR(14)
Volatile 38.39
STOCH(9,6)
Neutral 78.68
STOCH RSI(14)
Neutral 72.09
MACD(12,26)
Bullish 5.56
ADX(14)
Weak Trend 21.48
UO(9)
Bearish 68.15
ROC(12)
Uptrend And Accelerating 1.57
WillR(14)
Neutral -27.50
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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