Max Financial Services Limited
Max Financial Services Limited (MFSL) financial statements and selected valuation metrics from NSE/BSE exchange filings through 30 June 2026.
Financial Services›Financial Services›Insurance›Life Insurance
maxfinancialservices.com(opens the company website in a new tab)Key metrics
Price as of 2026-09-02
Stock price
₹1505.00
Market cap
51,733 Cr
Stock P/E
293.5
P/B
8.02
Dividend yield
0.1%
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Share price
NSE closing price from historical market data.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · NSE preferred when both exchanges report the same period · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 79 Cr | 76 Cr | 89 Cr | 113 Cr | 115 Cr | 123 Cr | 124 Cr | 132 Cr | 131 Cr | 128 Cr | 135 Cr | 141 Cr |
| Other income | 25 Cr | 4 Cr | 11 Cr | 3 Cr | 4 Cr | 4 Cr | 20 Cr | 3 Cr | 7 Cr | 9 Cr | 4 Cr | 7 Cr |
| Net operating income | 104 Cr | 80 Cr | 99 Cr | 116 Cr | 119 Cr | 127 Cr | 144 Cr | 135 Cr | 138 Cr | 137 Cr | 138 Cr | 148 Cr |
| Employee cost | 0.03 Cr | 18 Cr | 6 Cr | 7 Cr | 9 Cr | 9 Cr | 7 Cr | 12 Cr | 9 Cr | 12 Cr | 12 Cr | 10 Cr |
| Other expenses | 10,025 Cr | 12,129 Cr | 14,940 Cr | 11,604 Cr | 13,191 Cr | 8,826 Cr | 12,350 Cr | 12,691 Cr | 9,763 Cr | 14,169 Cr | 10,795 Cr | 14,793 Cr |
| Provisions & contingencies | — | — | — | — | — | — | — | — | — | — | — | — |
| Depreciation | 0.78 Cr | 0.76 Cr | 0.66 Cr | 0.72 Cr | 0.72 Cr | 0.81 Cr | 0.71 Cr | 0.68 Cr | 0.62 Cr | 0.52 Cr | 0.49 Cr | 0.50 Cr |
| Profit before tax | 158 Cr | 198 Cr | -59 Cr | 182 Cr | 162 Cr | 81 Cr | 22 Cr | 101 Cr | 6 Cr | 50 Cr | -36 Cr | 138 Cr |
| Tax % | -7.6% | 13.5% | 15.7% | 14.2% | 14.0% | 13.5% | -71.9% | 14.4% | 6.2% | 10.6% | 13.5% | 14.2% |
| Net profit | 170 Cr | 171 Cr | -50 Cr | 156 Cr | 139 Cr | 70 Cr | 38 Cr | 86 Cr | 6 Cr | 45 Cr | -32 Cr | 118 Cr |
| EPS (₹) | ₹4.29 | ₹4.30 | ₹-1.28 | ₹3.69 | ₹3.26 | ₹1.62 | ₹0.91 | ₹2.03 | ₹0.12 | ₹1.07 | ₹-0.77 | ₹2.78 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2020BSE balance sheet (this exchange's own filing had none for this period) | Mar 2021BSE balance sheet (this exchange's own filing had none for this period) | Mar 2022BSE balance sheet (this exchange's own filing had none for this period) | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 170 Cr | 212 Cr | 202 Cr | 265 Cr | 327 Cr | 475 Cr | 526 Cr | Sign in for TTM |
| Other income | 2 Cr | 14 Cr | 6 Cr | 18 Cr | 42 Cr | 28 Cr | 22 Cr | Sign in for TTM |
| Net operating income | 172 Cr | 226 Cr | 208 Cr | 283 Cr | 369 Cr | 503 Cr | 548 Cr | Sign in for TTM |
| Employee cost | 36 Cr | 61 Cr | 37 Cr | 29 Cr | 35 Cr | 28 Cr | 45 Cr | Sign in for TTM |
| Other expenses | 17,680 Cr | 30,684 Cr | 30,734 Cr | 30,833 Cr | 46,127 Cr | 45,970 Cr | 47,419 Cr | Sign in for TTM |
| Provisions & contingencies | — | — | — | — | — | — | — | Sign in for TTM |
| Depreciation | 11 Cr | 5 Cr | 5 Cr | 5 Cr | 3 Cr | 3 Cr | 2 Cr | Sign in for TTM |
| Profit before tax | 442 Cr | 593 Cr | 389 Cr | 527 Cr | 415 Cr | 447 Cr | 121 Cr | Sign in for TTM |
| Tax % | 38.3% | 5.6% | 18.1% | 14.3% | 5.4% | 9.7% | 12.6% | Sign in for TTM |
| Net profit | 273 Cr | 560 Cr | 318 Cr | 452 Cr | 393 Cr | 403 Cr | 106 Cr | Sign in for TTM |
| EPS (₹) | ₹5.38 | ₹14.51 | ₹7.34 | ₹10.97 | ₹9.85 | ₹9.53 | ₹2.45 | Sign in for TTM |
| Dividend payout % | — | — | 10.1% | 0.0% | 0.0% | 0.0% | 0.0% | Sign in for TTM |
Sign in for TTM
Trailing twelve months totals and margin rows
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2020BSE balance sheet (this exchange's own filing had none for this period) | Mar 2021BSE balance sheet (this exchange's own filing had none for this period) | Mar 2022BSE balance sheet (this exchange's own filing had none for this period) | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity capital | 54 Cr | 69 Cr | 69 Cr | 69 Cr | 69 Cr | 69 Cr | 69 Cr |
| Reserves | 2,093 Cr | 3,274 Cr | 3,866 Cr | 3,450 Cr | 3,797 Cr | 5,206 Cr | 5,213 Cr |
| Borrowings | — | — | 521 Cr | 521 Cr | 521 Cr | 1,025 Cr | 1,858 Cr |
| Other liabilities | 71,707 Cr | 94,527 Cr | 1,12,743 Cr | 1,27,335 Cr | 1,57,883 Cr | 1,82,570 Cr | 1,90,657 Cr |
| Total liabilities | 74,526 Cr | 98,132 Cr | 1,17,749 Cr | 1,31,824 Cr | 1,62,773 Cr | 1,89,999 Cr | 1,98,936 Cr |
| Fixed assets (net) | 22 Cr | 22 Cr | 3 Cr | 2 Cr | 1 Cr | 2 Cr | 0.96 Cr |
| CWIP | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Investments | 3,462 Cr | 4,151 Cr | 6,108 Cr | 5,516 Cr | 5,965 Cr | 9,218 Cr | 9,796 Cr |
| Loans & advances | 0.01 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Trade receivables | 3 Cr | 3 Cr | 0 Cr | 0 Cr | 0.05 Cr | 0 Cr | 0 Cr |
| Cash & bank | 447 Cr | 507 Cr | 569 Cr | 987 Cr | 858 Cr | 1,071 Cr | 2,137 Cr |
| Other assets | 70,591 Cr | 93,449 Cr | 1,11,069 Cr | 1,25,319 Cr | 1,55,950 Cr | 1,79,709 Cr | 1,87,001 Cr |
| Total assets | 74,526 Cr | 98,132 Cr | 1,17,749 Cr | 1,31,824 Cr | 1,62,773 Cr | 1,89,999 Cr | 1,98,936 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2020BSE balance sheet (this exchange's own filing had none for this period) | Mar 2021BSE balance sheet (this exchange's own filing had none for this period) | Mar 2022BSE balance sheet (this exchange's own filing had none for this period) | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | — | — | 8,496 Cr | 9,922 Cr | 6,107 Cr | 8,352 Cr | 11,473 Cr |
| Cash from investing | — | — | -8,835 Cr | -9,228 Cr | -5,004 Cr | -9,703 Cr | -11,125 Cr |
| Cash from financing | — | — | 388 Cr | -233 Cr | -117 Cr | 1,961 Cr | 567 Cr |
| Net cash flow | — | — | 48 Cr | 462 Cr | 986 Cr | 610 Cr | 915 Cr |
| Free cash flow (OCF − Capex) | — | — | 8,368 Cr | 9,922 Cr | 5,884 Cr | 8,134 Cr | 11,228 Cr |
Ratios
Ratios as reported or derived per annual period.
| Metric | Mar 2020BSE balance sheet (this exchange's own filing had none for this period) | Mar 2021BSE balance sheet (this exchange's own filing had none for this period) | Mar 2022BSE balance sheet (this exchange's own filing had none for this period) | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| ROCE % | 20.6% | 17.7% | 8.3% | 12.6% | 9.4% | 6.7% | 2.8% |
| ROE % | 6.8% | 12.7% | 6.2% | 9.5% | 7.8% | 5.1% | 1.3% |
| Debtor days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days payable | — | — | — | — | — | — | — |
| Cash conversion cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.13 | 0.12 | 0.19 | 0.35 |
| Current ratio | — | — | — | — | — | — | — |
| Net debt / EBITDA | 0.00 | 0.00 | 0.00 | -0.85 | -0.80 | -0.10 | -1.32 |
Regulatory ratios (standalone basis)
RBI/Basel III ratios — NPA, CET1, CRAR, NIM, ROA — for the licensed banking entity. Always sourced from the standalone filing, even on the consolidated view, since these have no consolidated-group definition.
| Metric | Mar 2020BSE balance sheet (this exchange's own filing had none for this period) | Mar 2021BSE balance sheet (this exchange's own filing had none for this period) | Mar 2022BSE balance sheet (this exchange's own filing had none for this period) | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Gross NPA | — | — | — | — | — | — | — |
| Gross NPA % | — | — | — | — | — | — | — |
| Net NPA | — | — | — | — | — | — | — |
| Net NPA % | — | — | — | — | — | — | — |
| CET1 % | — | — | — | — | — | — | — |
| Additional Tier 1 % | — | — | — | — | — | — | — |
| Capital adequacy % | — | — | — | — | — | — | — |
| NIM % | — | — | — | — | — | — | — |
| ROA % | — | — | — | — | — | — | — |
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