Max Financial Services Ltd (MFSL)
₹1,200.00
Mkt cap
₹41,414 Cr
P/E ratio
225.00
P/B
7.23
Div yield
0.00%
ROE
1.52%
ROCE
2.87%
EPS (TTM)
₹5.33
Book value
₹166
52W range
1,174–1,893
Sector
Financial Services
Price history
Previous close
Max Financial Services Limited incorporated on 24 February, 1988 is part of India’s leading business conglomerate – the Max Group. Company is primarily engaged in growing and nurturing business investments and providing management advisory services to Indian group companies. [1] It owns and actively manages an 81.83% majority stake in Max Life Insurance, India’s largest non-bank life insurer and 4th largest private life insurance company. [2]
NSE MFSLBSE 500271
Health check
Cautious
ValuationExpensive
ProfitabilityWeak
GrowthModerate
TechnicalsBearish
52-week range
−36.59% from high₹1,200
₹1,174+2.21% from low₹1,893
Current
₹1,200.00
Prev close
₹1,212.00
Day
−0.99%
Price performance
1D
−0.99%
1W
−0.93%
1M
−13.82%
3M
−20.57%
6M
−25.48%
1Y
−21.66%
YTD
−28.19%
Financials
Revenue, profit & margin
P/E ratio
225.0×
MFSL is 280% above the sector median of 59.2×
MFSL225.0×
Sector median59.2×
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10,165 | 12,356 | 14,888 | 11,799 | 13,372 | 8,923 | 12,376 | 12,822 | 9,792 | 14,259 | 10,802 | 14,970 | 11,601 | |
| Expenses | 10,021 | 12,146 | 14,945 | 11,608 | 13,199 | 8,834 | 12,356 | 12,703 | 9,771 | 14,181 | 10,808 | 14,803 | 11,466 | |
| Operating Profit | 144 | 209 | -57 | 190 | 173 | 89 | 20 | 119 | 21 | 78 | -6 | 167 | 135 | |
| OPM % | 1.4% | 1.7% | -0.4% | 1.6% | 1.3% | 1.0% | 0.2% | 0.9% | 0.2% | 0.6% | -0.1% | 1.1% | 1.2% | |
| Other Income | 25 | 4 | 10 | 1 | 2 | 3 | 18 | 3 | 7 | 9 | 5 | 7 | 4 | |
| Interest | 9 | 14 | 11 | 9 | 13 | 10 | 15 | 20 | 21 | 36 | 35 | 36 | 30 | |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | |
| Profit before tax | 158 | 198 | -59 | 182 | 162 | 81 | 22 | 101 | 6 | 50 | -36 | 138 | 109 | |
| Tax % | -8% | 14% | -15% | 14% | 14% | 14% | -73% | 14% | 6% | 11% | -13% | 14% | 8% | |
| Net Profit | 170 | 171 | -50 | 156 | 139 | 70 | 38 | 86 | 6 | 45 | -32 | 118 | 100 | |
| EPS in Rs | 4.29 | 4.30 | -1.28 | 3.69 | 3.26 | 1.62 | 0.91 | 2.02 | 0.12 | 1.06 | -0.76 | 2.77 | 2.32 | |
| Raw PDF |
Earnings
Results dates & reactionsNo upcoming results date on calendar.
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move +0.90% · closed higher next day 36 of last 58
| Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26† | Q1FY27 | Q2FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Broadcast | 6 Feb '24◦ | 7 May '24◦ | 13 Aug '24◦ | 22 Oct '24◦ | 4 Feb '25◦ | 13 May '25◦ | 7 Aug '25◦ | 11 Nov '25◦ | 11 Feb '26◦ | 12 May '26◦ | 13 Aug '26◦ | 27 Oct '26◦ |
| Earnings day | +5.18% | +1.36% | −1.17% | +8.67% | +1.60% | +3.73% | +3.10% | +5.09% | +4.58% | −3.37% | +1.70% | −0.54% |
| +1 day | +9.09% | −0.72% | −3.35% | +10.03% | +0.65% | +5.29% | +3.42% | +4.40% | +5.24% | −1.35% | +3.92% | −1.57% |
| +5 days | +6.09% | +3.18% | +0.50% | +7.04% | −0.91% | +8.26% | +8.99% | +1.99% | +5.65% | −1.71% | +4.80% | — |
| +15 days | +5.62% | +0.22% | +6.15% | +5.31% | −6.79% | +16.70% | +7.91% | +1.79% | −1.88% | −4.37% | +2.38% | — |
| +30 days | +4.27% | +1.83% | +13.57% | +1.34% | +3.56% | +26.18% | +5.29% | +2.63% | −14.04% | −2.56% | −4.52% | — |
| Filing | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL |
Corporate actions
Last 6 monthsNo recent corporate actions
Dividends, splits, and bonuses in the last six months show up here.
Shareholding
as of Sep 20261.25%Promoter
Promoters1.25%
FIIs48.61%0.55
DIIs43.70%0.64
Public6.43%0.08
Ownership trend
Peers
6 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| Life Insurance | ₹383.25 | 8.07 | 4,84,811 | 2.61% | 13,584 | +23.98% | 2,39,866 | +6.76% | 35.14% |
| SBI Life Insuran | ₹1,658.60 | 62.67 | 1,66,425 | 0.16% | 549 | +11.05% | 24,620 | +6.51% | 14.95% |
| HDFC Life Insur. | ₹524.90 | 55.67 | 1,14,039 | 0.40% | 522 | +16.35% | 24,437 | +18.33% | 10.30% |
| ICICI Life Insurance | ₹410.00 | 33.82 | 59,501 | 0.40% | 374 | +25.05% | 12,031 | +0.81% | 8.38% |
| Max Financial | ₹1,200.00 | 224.74 | 41,414 | 0.00% | 100 | +1,826.68% | 11,601 | +18.48% | 2.87% |
| Canara HSBC | ₹121.41 | 86.35 | 11,534 | 0.33% | 43 | +5.49% | 2,555 | +8.81% | 8.35% |
| Median: 6 Co. | ₹467.45 | 59.17 | 86,770 | 0.36% | 448 | +20.16% | 18,234 | +7.79% | 9.34% |
Filings
Annual reports15
Concall transcripts79
PPTOct 2026RECOct 2026TranscriptAug 2026PPTAug 2026RECAug 2026PPTMay 2026TranscriptMar 2026PPTMar 2026PPTFeb 2026PPTFeb 2026TranscriptNov 2025PPTNov 2025RECNov 2025TranscriptAug 2025PPTAug 2025TranscriptMay 2025PPTMay 2025RECMay 2025TranscriptFeb 2025PPTFeb 2025TranscriptOct 2024PPTOct 2024TranscriptAug 2024PPTAug 2024
Announcements5
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 OctAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 28 Oct - Audio recording of Q2 FY27 earnings call uploaded after October 28, 2026 investor discussion.Announcement under Regulation 30 (LODR)-Investor Presentation 27 Oct - As per the Investor Release attachedAnnouncement under Regulation 30 (LODR)-Press Release / Media Release 27 Oct - Max Financial reported H1 FY27 revenue up 16%, PAT up 137%, and Axis Max Life VNB up 21%.Approval Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 27 Oct