Max Financial

Why is Max Financial Services Ltd falling/rising?

As of 06-Aug, Max Financial Services Ltd's stock price has risen slightly to 1,524.80, but the overall outlook is concerning due to declining profitability, mixed long-term performance, and high valuations compared to peers.

As of 06-Aug, Max Financial Services Ltd is experiencing a slight rise in its stock price, currently at 1,524.80, reflecting a change of 2.05 (0.13%) upwards. This increase can be attributed to the stock outperforming its sector by 0.41% today and having gained consecutively over the last two days, with a total return of 1.37% during this period. <BR><BR>However, despite this recent uptick, the stock has shown a mixed performance over longer periods. In the past week, it has increased by 1.09%, but over the past month, it has declined by 3.53%. Year-to-date, the stock is down 8.85%, and while it has generated a modest return of 2.36% over the past year, its profitability has significantly decreased, with profits falling by 75%. <BR><BR>The company has also reported negative results for the last four consecutive quarters, with a substantial drop in operating profit at an annual rate of -17.14%. The latest quarterly figures show a net profit after tax of Rs -28.03 crore, a decline of -184.3%, and net sales falling by -12.72%. <BR><BR>Additionally, the stock's valuation appears expensive, trading at a premium compared to its peers, with a price-to-book value of 10 and a return on equity of only 1.6. Furthermore, 26.92% of promoter shares are pledged, which can exert additional downward pressure on the stock in a falling market.<BR><BR>In summary, while there is a short-term rise in the stock price, the overall outlook remains concerning due to poor long-term growth, declining profitability, and high valuations relative to peers.

Which are the latest news on Max Financial?

Should I buy, sell or hold Max Financial Services Ltd?

How big is Max Financial?

As of 10th June, Max Financial Services Ltd has a market capitalization of 55,793.00 Cr, with recent Net Sales of 47,674.11 Cr and a Net Profit of 83.97 Cr. Shareholder's Funds were 5,274.52 Cr, and Total Assets amounted to 1,89,998.69 Cr.

As of 10th June, Max Financial Services Ltd has a market capitalization of 55,793.00 Cr, categorizing it as a Mid Cap company.<BR><BR>In the latest four quarters, the company reported Net Sales of 47,674.11 Cr and a Net Profit of 83.97 Cr.<BR><BR>For the latest annual period ending March 2025, Shareholder's Funds were 5,274.52 Cr, and Total Assets amounted to 1,89,998.69 Cr.

Who are in the management team of Max Financial?

The management team of Max Financial includes Chairman Analjit Singh and various directors, such as Aman Mehta, Dinesh Kumar Mittal, and K Narasimha Murthy, among others, bringing diverse expertise to the company.

The management team of Max Financial includes the following individuals:<BR><BR>1. **Analjit Singh** - Chairman (Non-Executive)<BR>2. **Aman Mehta** - Non-Executive & Independent Director<BR>3. **Dinesh Kumar Mittal** - Non-Executive & Independent Director<BR>4. **Sahil Vachani** - Non-Executive Director<BR>5. **Jai Arya** - Non-Executive & Independent Director<BR>6. **Charles Richard Vernon Stagg** - Non-Executive & Independent Director<BR>7. **Hideaki Nomura** - Director<BR>8. **Mitsuru Yasuda** - Director<BR>9. **K Narasimha Murthy** - Independent Director<BR>10. **Gauri Padmanabhan** - Independent Director<BR><BR>This diverse board brings a range of expertise and perspectives to the company.

Who are the peers of the Max Financial?

Max Financial's peers include SBI Life Insurance, HDFC Life Insurance, ICICI Lombard, ICICI Prudential Life, General Insurance, Star Health Insurance, Go Digit General, New India Assurance, and Niva Bupa Health. Management risk varies from excellent at ICICI Lombard and Go Digit to below average at New India Assurance, with Star Health Insurance showing the highest 1-year return at 12.71% and HDFC Life Insurance the lowest at -28.60%.

Peers: The peers of Max Financial are SBI Life Insuran, HDFC Life Insur., ICICI Lombard, ICICI Pru Life, General Insuranc, Star Health Insu, Go Digit General, New India Assura, and Niva Bupa Health.<BR><BR>Quality Snapshot: Excellent management risk is observed at ICICI Lombard and Go Digit General, while Average management risk is found at SBI Life Insuran, HDFC Life Insur., ICICI Pru Life, General Insuranc, Max Financial, Star Health Insu, and Niva Bupa Health, and Below Average management risk is noted at New India Assura. Growth is rated as Good for Go Digit General and Niva Bupa Health, Average for SBI Life Insuran, HDFC Life Insur., ICICI Lombard, General Insuranc, and Max Financial, and Below Average for ICICI Pru Life, Star Health Insu, and New India Assura. All peers have an Excellent capital structure.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Star Health Insu at 12.71%, while the lowest is HDFC Life Insur. at -28.60%. Max Financial's 1-year return is 2.83%, which is higher than HDFC Life Insur. but lower than Star Health Insu. Additionally, the six-month return is negative for HDFC Life Insur., ICICI Pru Life, Go Digit General, and New India Assura.

What does Max Financial do?

Max Financial Services Ltd is a holding company focused on the insurance sector, primarily through its majority stake in Max Life Insurance. As of March 2026, it reported net sales of ₹10,802 Cr and a net profit of -₹26 Cr, with a market cap of ₹55,793 Cr.

Overview:<BR>Max Financial Services Ltd is a holding company primarily engaged in the insurance sector, specifically through its majority stake in Max Life Insurance Company Limited, and operates within the mid-cap market.<BR><BR>History:<BR>Max Financial Services Limited was originally incorporated as 'Max India Limited' on February 24, 1988, and changed its name to Max Financial Services Limited on January 15, 2016. The most recent quarterly results reported net sales and net profit for the period ending March 2026.<BR><BR>Financial Snapshot:<BR>- Net Sales: 10,802 Cr (Quarterly Results - Mar 2026)<BR>- Net Profit: -26 Cr (Quarterly Results - Mar 2026)<BR>- Market Cap: INR 55,793 Cr (Mid Cap)<BR><BR>Key Metrics:<BR>- P/E: 668.00<BR>- Industry P/E: 20<BR>- Dividend Yield: 0.00%<BR>- Debt-Equity: 0.35<BR>- Return on Equity: 1.57%<BR>- Price to Book: 10.45<BR><BR>Contact Details:<BR>Address: Bhai Mohan Singh Nagar, Railmajra Tehsil Balachaur Nawanshahr Punjab : 144533<BR>Tel: 91-01881-462000<BR>Email: investorhelpline@maxindia.com<BR>Website: http://www.maxfinancialservices.com

Are Max Financial Services Ltd latest results good or bad?

Max Financial Services Ltd's latest results are concerning, reporting a consolidated net loss of ₹26.35 crores in Q4 FY26, a 184.16% decline year-on-year, with net sales down 12.72% and negative operating margins. This indicates significant operational challenges and underperformance compared to industry peers.

Max Financial Services Ltd's latest results are concerning and can be classified as bad. In the fourth quarter of FY26, the company reported a consolidated net loss of ₹26.35 crores, which represents a dramatic decline of 184.16% year-on-year. This marks a significant deterioration in profitability, as the company faced declining revenues and compressed margins.<BR><BR>Net sales for the quarter fell to ₹10,801.94 crores, down 12.72% compared to the same period last year, and operating margins dropped to negative territory at -0.06%. These figures indicate serious operational challenges, as the company has struggled to maintain profitability amidst rising interest expenses and declining sales.<BR><BR>Additionally, the return on equity of 7.79% is below the average for its peers in the insurance sector, further highlighting the company's underperformance. The stock has also seen a decline in value, trading down 1.82% following the results announcement, which reflects investor sentiment regarding its financial health.<BR><BR>Overall, the combination of losses, declining sales, and negative operating margins suggests that Max Financial Services is currently navigating a difficult period, raising concerns about its future performance and stability.

Is Max Financial technically bullish or bearish?

As of December 4, 2025, Max Financial's trend is mildly bullish, supported by bullish MACD and moving averages, but tempered by bearish momentum in the weekly RSI and mixed signals from KST, indicating a cautious outlook.

As of 4 December 2025, the technical trend for Max Financial has changed from bullish to mildly bullish. The current stance is mildly bullish, supported by a bullish MACD on both weekly and monthly time frames, and bullish moving averages on the daily chart. However, the weekly RSI indicates bearish momentum, which tempers the overall bullish outlook. The Bollinger Bands are also showing a mildly bullish trend on both weekly and monthly charts. KST is mildly bearish on the weekly but bullish on the monthly, indicating mixed signals. Dow Theory shows no trend on both weekly and monthly time frames, and OBV is neutral. Overall, while there are bullish indicators, the presence of bearish signals in the RSI and KST suggests caution.

How has been the historical performance of Max Financial?

Max Financial's historical performance shows fluctuating net sales, peaking at 46,468.91 Cr in March 2025, with operating profit rising to 472.00 Cr, despite a slight decline in profit after tax to 406.74 Cr. Total assets increased significantly, indicating growth, while cash flow from operations improved, enhancing liquidity.

Answer:<BR>Max Financial's historical performance shows a fluctuating trend in net sales and profits over the years, with net sales reaching 46,468.91 Cr in March 2025, a slight decrease from 46,575.62 Cr in March 2024, but a significant increase from 31,412.67 Cr in March 2023. The total operating income mirrored this trend, with 46,468.91 Cr in March 2025 compared to 46,575.62 Cr in the previous year. Operating profit (PBDIT) excluding other income was 472.00 Cr in March 2025, up from 424.93 Cr in March 2024, although it was lower than the 550.90 Cr recorded in March 2023. Profit before tax also showed a positive trend, increasing to 450.10 Cr in March 2025 from 416.10 Cr in March 2024, while profit after tax was 406.74 Cr in March 2025, slightly up from 393.52 Cr in March 2024. The consolidated net profit for March 2025 was 327.21 Cr, down from 340.08 Cr in March 2024. The company's total assets grew to 1,89,998.69 Cr in March 2025 from 1,62,771.45 Cr in March 2024, while total liabilities also increased to 1,89,998.69 Cr from 1,62,771.45 Cr in the same period. Cash flow from operating activities improved to 8,351.00 Cr in March 2025 from 6,104.00 Cr in March 2024, contributing to a net cash inflow of 609.00 Cr in March 2025.<BR><BR>Breakdown:<BR>Max Financial's net sales have shown a general upward trajectory, peaking at 46,468.91 Cr in March 2025, although it experienced a slight decline from the previous year. The operating profit, while fluctuating, increased to 472.00 Cr in March 2025, indicating improved operational efficiency despite a drop in profit after tax to 406.74 Cr. The total assets of the company have significantly increased, reflecting growth in its financial base, while total liabilities rose correspondingly, indicating a potential increase in leverage. Cash flow from operating activities also saw a positive shift, enhancing the company's liquidity position. Overall, while there are fluctuations in profitability, the growth in sales and assets suggests a robust operational framework for Max Financial.

How has been the historical performance of Max Financial?

Max Financial's net sales reached 46,468.91 Cr in March 2025, showing growth from the previous year despite a slight decline from March 2024. While profit before tax and profit after tax increased, consolidated net profit fell to 327.21 Cr, indicating profitability challenges despite improved sales and cash flow.

Answer:<BR>Max Financial has shown a varied historical performance over the years, with net sales reaching 46,468.91 Cr in March 2025, slightly down from 46,575.62 Cr in March 2024 but significantly higher than 31,412.67 Cr in March 2023. The total operating income mirrored this trend, with a peak in March 2024 before a slight decline in March 2025. The operating profit (PBDIT) for March 2025 was 452.97 Cr, down from 462.85 Cr in the previous year, while profit before tax increased to 450.10 Cr from 416.10 Cr. The profit after tax also saw a rise to 406.74 Cr in March 2025 from 393.52 Cr in March 2024. However, the consolidated net profit decreased to 327.21 Cr in March 2025 from 340.08 Cr in March 2024, reflecting a decline in profitability despite an increase in sales. <BR><BR>In terms of assets and liabilities, total assets rose to 1,89,998.69 Cr in March 2025 from 1,62,771.45 Cr in March 2024, while total liabilities also increased to 1,89,998.69 Cr from 1,62,771.45 Cr. The company’s cash flow from operating activities improved to 8,351.00 Cr in March 2025 from 6,104.00 Cr in March 2024, contributing to a net cash inflow of 609.00 Cr, although this was lower than the previous year's inflow of 986.00 Cr. Overall, while Max Financial has experienced growth in sales and operating cash flow, its profitability metrics have shown some fluctuations, indicating a need for strategic adjustments moving forward. <BR><BR>Breakdown:<BR>Max Financial's net sales have shown a consistent upward trend, reaching 46,468.91 Cr in March 2025, although this represents a slight decline from the previous year. The total operating income followed a similar pattern, peaking in March 2024 before a minor drop. Operating profit (PBDIT) decreased to 452.97 Cr in March 2025, while profit before tax increased to 450.10 Cr, indicating improved operational efficiency despite lower sales. Profit after tax rose to 406.74 Cr, yet the consolidated net profit fell to 327.21 Cr, reflecting challenges in maintaining profitability. On the balance sheet, total assets increased significantly to 1,89,998.69 Cr, alongside a rise in total liabilities, indicating a growing financial footprint. Cash flow from operating activities improved, leading to a net cash inflow, although it was lower than the previous year, suggesting potential areas for improvement in cash management.

Who are the top shareholders of the Max Financial?

The top shareholders of Max Financial include foreign institutional investors (FIIs) with 44.75% and mutual funds with 39.88%. Mitsui Sumitomo Insurance Company Limited is the largest public shareholder at 21.86%, while Max Ventures Investment Holdings Private Limited is the main promoter with 1.62%.

The top shareholders of Max Financial include a mix of foreign institutional investors (FIIs) and mutual funds. FIIs hold a significant portion, accounting for 44.75% of the shares. Mutual funds are also substantial shareholders, with 39.88% held across 32 schemes. <BR><BR>Among individual shareholders, Mitsui Sumitomo Insurance Company Limited stands out as the highest public shareholder, holding 21.86% of the shares. The promoter with the highest holding is Max Ventures Investment Holdings Private Limited, which holds 1.62%. Additionally, individual investors collectively own 4.58% of the company. <BR><BR>Overall, the majority of the shares are held by FIIs, indicating strong foreign interest in Max Financial.

Is Max Financial overvalued or undervalued?

As of January 2, 2025, Max Financial is considered very expensive and overvalued with a PE ratio of 158.37 and significantly higher valuation ratios compared to industry peers, indicating that investors may be overestimating its future growth potential despite recent strong stock performance.

As of 2 January 2025, the valuation grade for Max Financial has moved from fair to very expensive. The company is currently deemed overvalued based on its high valuation ratios, including a PE ratio of 158.37, an EV to EBIT of 111.74, and an EV to EBITDA of 111.04. These figures starkly contrast with its peers, such as Life Insurance, which has a PE ratio of 12.54 and an EV to EBITDA of 9.89, indicating a significant premium for Max Financial compared to the industry average.<BR><BR>In comparison to other competitors, Bajaj Finance is also categorized as very expensive with a PE ratio of 35.01, while SBI Life Insurance is considered very attractive with a PE of 74.03. Given these metrics, Max Financial's current valuation appears unsustainable, especially when considering its relatively low ROE of 6.24% and ROCE of 9.00%. Although the stock has outperformed the Sensex over various time frames, including a 60.80% return over the past year compared to the Sensex's 7.62%, the current valuation suggests that investors may be overestimating future growth potential.

When is the next results date for Max Financial?

No Upcoming Board Meetings

Has Max Financial declared dividend?

Yes, Max Financial Services Ltd has declared a dividend of 90% (₹1.8 per share) with an ex-date of September 19, 2016. However, the dividend yield is 0%, indicating that returns have primarily come from price appreciation rather than dividend income.

Max Financial Services Ltd has declared a dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 90%<BR>- Amount per share: 1.8<BR>- Ex-date: Sep-19-2016<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was 30.15%, the dividend return was 0%, resulting in a total return of 30.15%.<BR><BR>In the 1-year period, the price return was 63.09%, the dividend return was 0%, resulting in a total return of 63.09%.<BR><BR>In the 2-year period, the price return was 119.47%, the dividend return was 0%, resulting in a total return of 119.47%.<BR><BR>In the 3-year period, the price return was 85.7%, the dividend return was 0%, resulting in a total return of 85.7%.<BR><BR>In the 4-year period, the price return was 58.23%, the dividend return was 0%, resulting in a total return of 58.23%.<BR><BR>In the 5-year period, the price return was 219.9%, the dividend return was 0%, resulting in a total return of 219.9%.<BR><BR>Overall, while Max Financial Services Ltd has declared a dividend, the dividend yield remains at 0%, indicating that the returns have been primarily driven by price appreciation rather than dividend income. The total returns over various periods show significant growth, particularly over the 5-year period.