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Max Financial Services Ltd is a leading Indian financial services holding company focused primarily on life insurance. The company derives most of its value from its majority stake in Axis Max Life Insurance, one of India’s prominent private life insurers. Its business model centers on long-term insurance underwriting, premium growth, and investment income through its subsidiary. Axis Max Life offers protection, savings, retirement, child, and wealth-linked insurance products. Distribution is driven by a diversified mix of agency, bancassurance, and digital channels. Max Financial Services plays a strategic and governance role rather than selling products directly to customers.
Nothing flagged for monitoring
“Operates in NBFC — Lending & Credit.”
₹47,674 Cr revenue.
COGS 0.0%, employees 0.1%.
“maintaining our earlier sales and margin guidance.”
“maintaining your E and B guidance of 25 24 to 25 percentage.”
“individual adjusted first year premium grew by 18% in H1 FY 'twenty six, which in fact is more than twice that of the private sector growth at 8%, while the overall industry expanded by just 2%.”
| KPI | Company | Sector Median |
|---|---|---|
| ROE | 1.6%▼ | 2.8% |
| ROCE | 0.1%▼ | 4.2% |
| Net Margin | 0.2%▼ | 11.9% |
| EBITDA Margin | 0.5%▼ | 29.0% |
| Debt To Equity | 0.35x▲ | 0.09x |
| Rev Growth 3yr | 14.9%▲ | 12.2% |
| EPS Growth 3yr | -39.5%▼ | 12.6% |
Historical valuation data not available.
| (₹ Cr) | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| ₹47,674 Cr +2.6% | ₹46,469 Cr -0.2% | ₹46,576 Cr +48.3% | ₹31,413 Cr +0.7% | ₹31,181 Cr -0.3% | ₹31,274 Cr +71.5% | ₹18,240 Cr | |
| ₹22 Cr -21.2% | ₹28 Cr -32.7% | ₹42 Cr +128.9% | ₹18 Cr +185.6% | ₹6 Cr -54.4% | ₹14 Cr +692.7% | ₹2 Cr | |
| Total Income | ₹47,696 Cr +2.6% | ₹46,497 Cr -0.3% | ₹46,618 Cr +48.3% | ₹31,431 Cr +0.8% | ₹31,188 Cr -0.3% | ₹31,288 Cr +71.5% | ₹18,242 Cr |
| ₹47,577 Cr +3.3% | ₹46,047 Cr -0.3% | ₹46,203 Cr +49.5% | ₹30,904 Cr +0.3% | ₹30,799 Cr +0.3% | ₹30,695 Cr +72.5% | ₹17,799 Cr | |
| Profit Before Tax | ₹120 Cr -73.4% | ₹450 Cr +8.5% | ₹415 Cr -21.3% | ₹527 Cr +35.6% | ₹389 Cr -34.4% | ₹593 Cr +34.0% | ₹442 Cr |
| ₹15 Cr -64.6% | ₹43 Cr +95.0% | ₹22 Cr -70.5% | ₹75 Cr +7.2% | ₹70 Cr +111.9% | ₹33 Cr -80.5% | ₹170 Cr | |
| Net Profit | ₹106 Cr -73.8% | ₹403 Cr +2.8% | ₹393 Cr -13.1% | ₹452 Cr +41.9% | ₹318 Cr -43.1% | ₹560 Cr +105.1% | ₹273 Cr |
| Profit (Owners) | ₹92 Cr -71.8% | ₹327 Cr -3.8% | ₹340 Cr -10.1% | ₹378 Cr +49.4% | ₹253 Cr -40.4% | ₹425 Cr +193.4% | ₹145 Cr |
| Minority Interest | ₹13 Cr -82.4% | ₹76 Cr +45.1% | ₹53 Cr -28.5% | ₹73 Cr +12.9% | ₹65 Cr -51.6% | ₹134 Cr +5.1% | ₹128 Cr |
| Other Comprehensive Income | (₹70 Cr) ↓ Decline | ₹25 Cr | ₹2 Cr ↑ Recovery | (₹8 Cr) +33.1% | (₹12 Cr) -172.5% | (₹4 Cr) ↓ Decline | ₹13 Cr |
| EPS | ₹2.68 | ₹9.48 | ₹9.85 | ₹10.97 | ₹7.34 | ₹12.33 | ₹5.38 |
| Diluted Shares | ₹35 Cr | ₹35 Cr | ₹35 Cr | ₹35 Cr | ₹35 Cr | ₹35 Cr | ₹27 Cr |
| Impairment On Financial Instruments | (₹1 Cr) +13.4% | (₹1 Cr) +71.1% | (₹5 Cr) -733.9% | (₹0.59 Cr) +65.9% | (₹2 Cr) +96.9% | (₹55 Cr) ↓ Decline | ₹71 Cr |
| Profit Loss From Discontinued Operations After Tax | ₹1 Cr ↑ Recovery | (₹3 Cr) | ₹0.00 Cr | ₹0.00 Cr | ₹0.00 Cr | ₹0.00 Cr | ₹0.00 Cr |
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Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the extant provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ...
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
Max Financial Services Limited has informed the Exchange regarding Notice of 38th Annual General Meeting to be held on August 19, 2026
Max Financial Services Limited has informed the Exchange regarding 'Book Closure intimation for the 38th Annual General Meeting of the Company scheduled to be held on Wednesday, August 19, 2026, at 10...
Annual General Meeting of the Company to be held on Wednesday, August 19, 2026, at 10:00 A.M.
Max Financial Services Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the financial year ended March 31, 2026'.
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the extant provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ...
Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the extant provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ...
Max Ventures Investments Holdings Private Ltd has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares...
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
Max Financial Services Limited has informed the Exchange regarding Notice of Postal Ballot
The Exchange had sought clarification from Max Financial Services Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) ...
Max Financial Services Limited has informed the Exchange regarding 'Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026'.
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication