| 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 | Dec 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 | 14,267 |
| 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 | 14,181 |
| 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 | 87 |
| 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 % | 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 | 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 | 36 |
| 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 | 50 |
| 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 | 5 |
| 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 | 45 |
| 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 | 1.07 |
Max Financial Services
Max Financial Services
1,568.70
-70.60
(-4.31%)
Market Cap
54,138.15 Cr
PE Ratio
322.48
Volume
8,91,585.00
Day High - Low
1,630.50 - 1,553.50
52W High-Low
1,892.50 - 1,085.00
Key Fundamentals
Market Cap
54,138.15 Cr
EPS
9.53
PE Ratio
322.48
PB Ratio
10.66
Book Value
153.68
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 from26 analysts
Actual
Company News
View All News
Max Financial Services shareholders approve appointment of Bharat Anand as Independent Director and remuneration of Rs. 20 lakhs per annum through postal ballot with overwhelming majority.
Max Financial Services Limited has published a public notice regarding the loss of share certificate for 860 equity shares held by Syed Shamshad Husain, in compliance with SEBI regulations.
Max Financial Services discloses Corporate Identity Number change for material subsidiary Axis Max Life Insurance following registered office relocation from Punjab to Haryana.
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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 |
|---|---|---|---|---|---|---|---|---|
749.90 | #1 4,74,311.58 | #1 9.28 | #1 8,98,311.90 | #1 3.86 | #1 48,320 | 17.25 | 35.84 | |
1,833.30 | 1,83,848.79 | 76.65 | 1,18,244.90 | -11.54 | 2,413 | 4.70 | 38.11 | |
598.60 | 1,29,154.88 | 71.17 | 97,385.10 | -4.54 | 1,811 | -0.74 | 26.53 | |
534.35 | 77,351.50 | 58.39 | 71,350.30 | -22.21 | 1,186 | #1 19.14 | 21.37 | |
1,568.70 | #5 54,138.15 | #6 322.48 | #5 46,497.20 | #2 -0.25 | #5 407 | #6 -35.82 | 37.48 | |
141.89 | 13,479.55 | 112.15 | 10,825.00 | -9.48 | 117 | -5.80 | 49.20 |
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 Equity & 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 |
Announcements
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication2 days ago
2 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation5 days ago
5 days agoDisclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI LODR) For Change In Corporate Identity Number Of Axis Max Life Insurance The Material Subsidiary Of The Company9 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association10 days ago
10 days agoAnnouncement under Regulation 30 (LODR)-Raising of Funds10 days ago
10 days agoBoard Meeting Outcome for Outcome Of The Meeting Of The Board Of Directors Pursuant To Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 (Listing Regulations)10 days ago
10 days agoClosure of Trading WindowMar 07, 2026
Mar 07, 2026Board Meeting Intimation for Prior Intimation Of The Meeting Of The Board Of Directors (Board) Of Max Financial Services Limited (Company) Pursuant To Regulation 29(1)(D) Of The SEBI(LODR) Regulations 2015 (Listing Regulations)Mar 07, 2026
Mar 07, 2026Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) Mar 06, 2026
Mar 06, 2026Announcement under Regulation 30 (LODR)-Newspaper PublicationFeb 25, 2026
Feb 25, 2026Announcement under Regulation 30 (LODR)-Newspaper PublicationFeb 20, 2026
Feb 20, 2026Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) - ESG RatingFeb 19, 2026
Feb 19, 2026Shareholder Meeting / Postal Ballot-Notice of Postal BallotFeb 19, 2026
Feb 19, 2026Announcement under Regulation 30 (LODR)-Earnings Call TranscriptFeb 18, 2026
Feb 18, 2026Announcement under Regulation 30 (LODR)-Newspaper PublicationFeb 13, 2026
Feb 13, 2026Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI LODR) For Shifting Of Registered Office Of Axis Max Life Insurance The Material Subsidiary Of The CompanyFeb 12, 2026
Feb 12, 2026Submission Of Audio Recording Of Earnings Conference CallFeb 12, 2026
Feb 12, 2026Announcement under Regulation 30 (LODR)-Change in DirectorateFeb 11, 2026
Feb 11, 2026Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseFeb 11, 2026
Feb 11, 2026Announcement under Regulation 30 (LODR)-Investor PresentationFeb 11, 2026
Feb 11, 2026Announcement under Regulation 30 (LODR)-Investor PresentationFeb 11, 2026
Feb 11, 2026Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2025
Feb 11, 2026
Feb 11, 2026Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2025
Feb 11, 2026
Feb 11, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationFeb 05, 2026
Feb 05, 2026Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations)Jan 28, 2026
Jan 28, 2026Announcement 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, 2025Mutual Fund Holdings
Technical Indicators
RSI(14)
Neutral 37.48
ATR(14)
Less Volatile 46.79
STOCH(9,6)
Neutral 22.52
STOCH RSI(14)
Oversold 19.39
MACD(12,26)
Bearish -15.93
ADX(14)
Strong Trend 30.86
UO(9)
Bearish 43.50
ROC(12)
Downtrend And Accelerating -6.21
WillR(14)
Oversold -84.41
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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