NSE MFSL · BSE 500271 · Insurance (Accident & Health) · NIFTY 500
Max Financial Services Share Price
Max Financial Services Overview
Where the price stands, how it has moved and how it sits against its averages.
Max Financial Services shares last traded at ₹1,411.20 on the NSE, down 9.81% on the day. That is 25.4% below the 52-week high of ₹1,891.35 and 0.2% above the 52-week low of ₹1,408.05. The stock trades at 501.45× earnings, above the sector average of 11.64. Its market value is ₹48,420 Cr.
Price returns
Against the market: 1 Month ▲ +1.13% · 3 Months ▼ −3.26% · 6 Months ▼ −0.86% · This year ▲ +6.47% · 1 Year ▲ +8.23%
Shading grows with the size of the move. Prices refresh every 15 minutes while the market is open (9:15 AM–3:30 PM IST); next update from Mon 28 Sep, 9:15 AM.
Moving averages — price is above 0 of 6
- 300-day average₹1,631.58 ▼ price 13.5% below
- 100-day average₹1,581.78 ▼ price 10.8% below
- 5-day average₹1,544.76 ▼ price 8.6% below
- 50-day average₹1,536.98 ▼ price 8.2% below
- 20-day average₹1,533.34 ▼ price 8.0% below
- 10-day average₹1,507.38 ▼ price 6.4% below
- Today's price₹1,411.20
Averages above today's price sit higher on the ladder. Price above most of its averages is usually read as an upward trend.
Max Financial Services Financial Results
Revenue and net profit in ₹ crore, with the full statements underneath.
Year by year
| Fiscal year | Revenue | Growth | Net profit | Net margin | EPS | Dividend |
|---|---|---|---|---|---|---|
| FY 2026 | ₹47,792 Cr | ▲ +0.0% | ₹84 Cr | 0.2% | ₹2.41 | — |
| FY 2025 | ₹47,776 Cr | ▲ +21.9% | ₹327 Cr | 0.7% | ₹9.63 | — |
| FY 2024 | ₹39,196 Cr | ▲ +25.2% | ₹340 Cr | 0.9% | ₹9.93 | — |
| FY 2023 | ₹31,316 Cr | ▲ +0.6% | ₹378 Cr | 1.2% | ₹10.97 | — |
| FY 2022 | ₹31,142 Cr | ▼ −0.1% | ₹253 Cr | 0.8% | ₹7.34 | — |
| FY 2021 | ₹31,183 Cr | ▲ +71.0% | ₹425 Cr | 1.4% | ₹14.51 | — |
| FY 2020 | ₹18,235 Cr | — | ₹145 Cr | 0.8% | ₹5.38 | — |
Quarter by quarter
| Quarter | Revenue | vs prev. qtr | Net profit | Net margin | EPS |
|---|---|---|---|---|---|
| Q1 FY27 | ₹14,949 Cr | ▲ +38.6% | ₹96 Cr | 0.6% | ₹2.78 |
| Q4 FY26 | ₹10,787 Cr | ▼ −24.3% | −₹26 Cr | −0.2% | −₹0.81 |
| Q3 FY26 | ₹14,244 Cr | ▲ +45.7% | ₹37 Cr | 0.3% | ₹1.07 |
| Q2 FY26 | ₹9,778 Cr | ▼ −23.7% | ₹4 Cr | 0.0% | ₹0.12 |
| Q1 FY26 | ₹12,807 Cr | ▲ +3.7% | ₹70 Cr | 0.5% | ₹2.05 |
| Q4 FY25 | ₹12,354 Cr | ▲ +38.8% | ₹31 Cr | 0.3% | ₹1.01 |
| Q3 FY25 | ₹8,902 Cr | ▼ −33.3% | ₹56 Cr | 0.6% | ₹1.63 |
| Q2 FY25 | ₹13,352 Cr | — | ₹113 Cr | 0.8% | ₹3.27 |
Balance sheet — FY26
- Total assets₹1,98,936 Cr
- Total liabilities₹1,93,654 Cr
- Shareholders' equity₹5,282 Cr
- Total debt₹2,340 Cr
- Revenue growth, 5 yr8.92% a year
- EPS growth, 5 yr−30.13% a year
- Operating margin (TTM)0.62%
- Net margin (TTM)0.27%
Cash flow — FY26
Right of the line = cash coming in, left = cash going out. Free cash flow = cash from operations minus capital spending.
Full financial statements, FY20–FY26
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Total revenue | 18,235.03 | 31,182.76 | 31,142.00 | 31,316.06 | 39,195.55 | 47,776.13 | 47,792.12 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Operating expenses | 17,733.88 | 30,618.37 | 30,663.74 | 30,768.54 | 46,028.34 | 45,862.45 | 47,348.63 |
| Operating income | 501.15 | 564.38 | 478.25 | 547.53 | −6,832.80 | 1,913.69 | 443.49 |
| Depreciation | 153.02 | 160.14 | 178.70 | 175.82 | 211.31 | 235.88 | 333.12 |
| Profit before tax | 442.49 | 592.89 | 388.66 | 527.21 | 416.11 | 450.11 | 119.79 |
| Tax | 169.63 | 33.14 | 70.25 | 75.31 | 22.56 | 43.36 | 15.33 |
| Net profit | 144.99 | 425.39 | 253.37 | 378.49 | 340.11 | 327.23 | 83.99 |
| EPS (₹) | 5.38 | 14.51 | 7.34 | 10.97 | 9.93 | 9.63 | 2.41 |
| Dividend per share (₹) | — | — | — | — | — | — | — |
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Total assets | 74,526.22 | 98,065.59 | 1,17,748.55 | 1,31,823.78 | 1,62,773.47 | 1,90,179.65 | 1,98,935.55 |
| Current assets | — | — | — | — | — | — | — |
| Cash & short-term investments | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Property, plant & equipment | 404.38 | 345.88 | 297.21 | 385.72 | 407.41 | 510.75 | 584.85 |
| Total liabilities | 72,379.70 | 94,722.63 | 1,13,813.94 | 1,28,305.54 | 1,58,907.54 | 1,84,905.13 | 1,93,653.76 |
| Current liabilities | — | — | — | — | — | — | — |
| Total debt | 319.22 | 278.39 | 768.01 | 821.18 | 836.22 | 1,437.22 | 2,340.04 |
| Total equity | 2,146.52 | 3,342.96 | 3,934.61 | 3,518.24 | 3,865.93 | 5,274.52 | 5,281.79 |
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| From operations | 9,467.54 | 6,892.24 | 8,495.86 | 9,922.29 | 6,104.36 | 8,351.60 | 11,472.70 |
| From investing | −9,008.93 | −6,851.53 | −8,835.38 | −11,555.05 | −5,001.31 | −9,703.11 | −11,124.61 |
| From financing | −380.23 | −92.15 | 387.97 | −232.76 | −116.98 | 1,961.41 | 566.68 |
| Capital expenditure | −127.83 | −82.96 | −128.00 | −173.93 | −222.81 | −218.08 | −244.44 |
| Dividends paid | — | — | — | — | — | — | — |
| Net change in cash | 78.38 | −51.43 | 48.45 | −1,865.53 | 986.06 | 609.90 | 914.77 |
What Analysts Say
Recommendations from 26 analysts who cover Max Financial Services.
▲ 26 bullish (100.0%) · 0 hold (0.0%) · ▼ 0 bearish (0.0%)
Votes
How the votes changed
| Rating | 3M ago | 2M ago | 1M ago | 1W ago | Now | 3-month change |
|---|---|---|---|---|---|---|
| Strong Buy | 12 | 12 | 12 | 12 | 12 | — |
| Buy | 15 | 15 | 14 | 14 | 14 | ▼ −1 |
| Hold | 0 | 0 | 0 | 0 | 0 | — |
| Sell | 0 | 0 | 0 | 0 | 0 | — |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | — |
Analyst ratings are opinions, not a guarantee of returns.
Max Financial Services vs Peers
Side by side with other insurance (accident & health) companies. The small bars compare each column.
| Company | Price | Change | Market cap | P/E | P/B | ROE (5 yr) | Net margin | Div. yield | Rating |
|---|---|---|---|---|---|---|---|---|---|
| Max Financial Services | ₹1,411.20 | ▼ −9.81% | ₹48,420 Cr | 501.45 | 10.10 | 6.63% | 0.27% | 0.00% | This stock |
| Max India | ₹150.15 | ▲ +0.33% | ₹843 Cr | — | 2.11 | −13.45% | −63.94% | — | Neutral |
Rating = the data provider's overall technical view of each peer. Company names link to their own pages.
Max Financial Services Key Metrics
Each ratio placed against a benchmark — the sector average, the company's own 5-year average, or a common rule of thumb.
Valuation Is the price reasonable?
Profitability Of every ₹100 of sales, how much is kept?
Returns & efficiency How well does it use its money?
Growth Is the business getting bigger?
Financial strength Can it pay its bills and debts?
Per share What each share stands for
The share price is 9.12× the book value behind each share.
Benchmarks: sector averages and 5-year averages come from the data provider; the debt and liquidity bands are common rules of thumb, not investment advice.
All 96 metrics from the data provider
Valuation
Per share
Margins
Growth
Financial strength
Returns & efficiency
Price & volume
Dividends & Corporate Events
Payouts to shareholders, splits and bonus issues, and company meetings — newest first.
- Dividend yield0.00%
- Payout ratio0.00%
No dividends on record.
Corporate calendar
- MeetingAnnual General Meeting
- BoardQuarterly Results
- MeetingPostal Ballot
- MeetingPostal Ballot
- BoardAudited Results
- MeetingPostal Ballot
- BoardPreferential issue of shares
- BoardQuarterly Results
Show 6 older events
- MeetingPostal Ballot
- BoardQuarterly Results
- MeetingAnnual General Meeting
- BoardAudited Results
- BoardQuarterly Results
- BoardQuarterly Results
About Max Financial Services
Insurance (Accident & Health)
Max Financial Services Limited is an India-based holding company. The Company is primarily engaged in growing and nurturing business investments and providing management advisory services to its group companies. Its business is categorized into two segments: Life Insurance and Business Investments and Others. The Life Insurance segment represents the life insurance business conducted across India by the Company’s subsidiary. The Business Investments and others segment is represented by treasury investments. The Company has an investment in its subsidiary, Axis Max Life Insurance Limited, which is a non-bank private life insurance company engaged in the business of life insurance and annuities. The subsidiary offers participating, non-participating, and linked products covering life insurance, pensions, and health benefits, including riders for individual and group segments. These products are distributed through individual agents, corporate agents, banks, brokers, and other channels.
Key people
- Nishant Kumar GehlawatChief Financial Officer
- Siddhi SunejaCompliance Officer, Company Secretary
- V. KrishnanManager
Company facts
- NSE symbolMFSL
- BSE code500271
- ISININE180A01020
- IndustryInsurance (Accident & Health)
- IndexNIFTY 500
- Market cap₹48,420 Cr
- Revenue (FY26)₹47,792 Cr
- Net profit (FY26)₹84 Cr
In the News
Recent headlines about Max Financial Services — they open on Mint in a new tab.
- PB Fintech leads slump in insurance stocks on IRDAI's fee cap plan
The IRDAI has proposed measured that could slash insurance fee income for banks and digital brokers by as much as 90% in high-margin categories.
24 Sep 2026 · 1 min read · Mint ↗ - Sebi drops fraud, disclosure charges in Max-Axis Bank case
Sebi said the disclosure-related charges could not be sustained because there was no material establishing violations of the specific provisions applicable at the time.
24 Aug 2026 · 1 min read · Mint ↗ - Bajaj Finance, HDFC Life to Nippon Life India AMC: Mirae Asset Sharekhan recommends 11 BFSI stocks to buy for long term
Mirae Asset Sharekhan recommends 11 BFSI stocks poised for long-term gains, spotlighting factors like cleaned balance sheets and a rise in profitability. Discover which stocks made the list.
24 Aug 2026 · 2 min read · Mint ↗ - Axis Max Life reports 17% YoY growth in Individual Adjusted FYP in 3M FY’27; VNB increases by 33% YoY
Max Financial Services' Q1 FY'27 showed consolidated revenue of ₹14,977 crores, while Axis Max Life reported a 44% surge in the Protection and Health sector and a 116% increase in annuity business, reflecting strong growth and operational efficiency across multiple channels.
18 Aug 2026 · 7 min read · Mint ↗ - Axis Max Life sees margin gains holding firm as product mix settles
CEO Sumit Madan rules out near-term product changes as VNB margins surge to 23.2%, buoyed by strong demand for retirement products, protection sales, and channel expansion.
18 Aug 2026 · 3 min read · Mint ↗ - From Gift Nifty to Kospi rally, oil prices: 7 key things that changed for Indian stock market overnight
Gift Nifty was trading around the 24,423.50 level, down nearly 50 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
13 Aug 2026 · 4 min read · Mint ↗ - HDFC Mid Cap Fund tops ₹1 trillion AUM: Is it still worth considering?
Find out how HDFC Mid Cap Fund outperformed and rewarded its investors.
2 Aug 2026 · 4 min read · Mint ↗ - The Street resets its Nifty 500 bets. Here are the winners
The optimism reflects the underperformance of Indian equities relative to other emerging markets and the US, along with a moderation in valuations.
24 Jul 2026 · 3 min read · Mint ↗
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