Max Financial Services has announced its financial results for FY26. The company reported a consolidated Profit After Tax (PAT) of ₹106 crore. Consolidated revenue excluding investment income stood at ₹38,039 crore, representing 17% year-on-year growth, while total revenue including investment income reached ₹47,696 crore. The Board of Directors, at its meeting held on May 12, 2026, approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. Subsequently, on May 14, 2026, the company published newspaper advertisements in compliance with Regulation 33 read with Regulation 47(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Disclosure

The audited financial results are available on the Stock Exchange websites — www.nseindia.com and www.bseindia.com — as well as on the company's website. The publication was confirmed by Siddhi Suneja, Company Secretary & Compliance Officer, and the results were approved under the authority of Analjit Singh, Chairman (DIN: 00029641), from Cape Town, South Africa, on May 12, 2026.

Axis Max Life Performance

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Limited and a key subsidiary of Max Financial Services, reported significant operational growth during the fiscal year. The Individual Adjusted First Year Premium grew by 19% year-on-year to ₹9,885 crore, outpacing the private industry growth of 12%. This performance contributed to a 56 basis points increase in the company's private market share, bringing it to 10.4%. The Gross Written Premium for the year reached ₹38,877 crore, an increase of 17% compared to the previous year. Individual renewal premium grew by 16% to ₹24,374 crore during the period.

The Value of New Business (VNB), a measure of profitability, increased by 26% to ₹2,647 crore. The New Business Margin improved to 25.2% from 24.0% in the prior year. The Embedded Value stood at ₹28,871 crore, growing by 15%, with an Operating Return on Embedded Value (RoEV) of 18.7%.

Key Financial Metrics

The following table outlines the comprehensive financial summary for Axis Max Life for FY26:

Operational Highlights

Axis Max Life secured 60 new business partnerships during the fiscal year. The 20% YoY growth in Annualized Premium Equivalent (APE) was driven by a 28% YoY increase in the Proprietary channel, a 14% growth in Total Partnership APE, and a 90% growth in New Partnership APE. The Individual New Business Sum Assured grew by 42% to ₹5,43,210 crore. The Assets Under Management (AUM) reached ₹1.89 lakh crore, an 8% increase from the previous year. The number of policies issued grew 18% to 935,000.

Management Commentary

Sumit Madan, Managing Director and CEO of Axis Max Life, commented on the results: "Axis Max Life has delivered a double-digit Individual Adjusted FYP growth of 19% in the fiscal, ahead of private industry growth of 12%. This is underpinned by the growth across our proprietary and partnership verticals. This has led our market share to expand by 56 bps and is at 10.4% in FY'26, thus maintaining our market position."

Source: None/Company/INE180A01020/fba5c530d4ed4f93.pdf

Max Financial Services Limited has informed the stock exchanges of a change in its Corporate Identity Number, following the relocation of its registered office from the state of Punjab to Haryana. The intimation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was received by the company on May 13, 2026, at 10:22 hrs IST.

Change in Corporate Identity Number

The company's CIN has been updated as detailed below, reflecting the jurisdictional shift from the Registrar of Companies, Chandigarh, to the Registrar of Companies, Haryana.

Background and Regulatory Process

The change in CIN is a consequence of the company altering the provisions of its Memorandum of Association by way of a special resolution, specifically with respect to the place of its registered office. The registered office has been moved from Punjab to Haryana, outside the jurisdiction of the existing Registrar of Companies, Chandigarh, to the Registrar of Companies, Haryana. This alteration was confirmed by an order of the Regional Director bearing the date February 17, 2026.

The disclosure is in continuation of the company's earlier intimations to the exchanges dated August 07, 2025, March 24, 2026, and April 9, 2026, related to this matter. The Certificate of Registration of the Regional Director's order for Change of State was issued under Section 13(5) of the Companies Act, 2013, and was digitally signed by the Registrar of Companies, ROC Haryana, on May 12, 2026.

Updated Registered Office Details

Following the relocation, the company's registered office address and corporate details have been updated as follows:

The intimation was signed by Siddhi Suneja, Company Secretary and Compliance Officer of Max Financial Services Limited, on May 13, 2026. The company has requested the exchanges to take the aforesaid change on record.