NSE MFSL · BSE 500271 · Insurance (Accident & Health) · NIFTY 500

Max Financial Services Share Price

Market closed · NSE price as of Mon 28 Sep
₹1,444.00 ▼ −₹14.00 · 0.96%
Day range · 28 Sep
₹1,432.00Low₹1,459.15High
52-week range
₹1,360.00Low · 24 Sep 2026₹1,891.35High · 23 Feb 2026

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 ₹1,444.00 on the NSE, down 0.96% on the day. That is 23.7% below the 52-week high of ₹1,891.35 and 6.2% above the 52-week low of ₹1,360.00. The stock trades at 453.41× earnings, above the sector average of 10.67. Its market value is ₹49,835 Cr.

NSE closing prices — daily for the last year, weekly before that — ending at the latest price (Mon 28 Sep). Hover, tap or use the arrow keys to read a day.

Price returns

1 Day▼ −0.96%
1 Week▼ −7.97%
This month▼ −8.21%
3 Months▼ −10.39%
6 Months▼ −7.26%
This year▼ −13.63%
1 Year▼ −6.35%

Share price growth a year (CAGR): 3 years ▲ +16.3% · 5 years ▲ +6.7% · 10 years ▲ +9.8%

Against the market: 1 Month ▼ −2.55% · 3 Months ▼ −5.60% · 6 Months ▼ −6.76% · This year ▲ +0.58% · 1 Year ▲ +2.28%

Shading grows with the size of the move. We ask our data provider for a newer price every 15 minutes while the market is open (9:15 AM–3:30 PM IST); next check from Mon 26 Oct, 9:15 AM. Its quotes are not real-time — the time at the top shows how current the price is.

Moving averages — price is above 0 of 6

  1. 300-day average₹1,628.43 ▼ price 11.3% below
  2. 100-day average₹1,578.06 ▼ price 8.5% below
  3. 50-day average₹1,528.50 ▼ price 5.5% below
  4. 20-day average₹1,516.76 ▼ price 4.8% below
  5. 5-day average₹1,510.82 ▼ price 4.4% below
  6. 10-day average₹1,505.76 ▼ price 4.1% below
  7. Today's price₹1,444.00

Each average is the mean closing price over that many trading days; averages above the current price sit higher on the ladder.

Max Financial Services Financial Results

Revenue and net profit in ₹ crore, with the full statements underneath.

Revenue₹ crore
47,792
Net profit₹ crore · losses below zero
425
84

Year by year

Fiscal yearRevenueGrowthNet profitNet marginEPSDividend
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 —

Balance sheet — FY26

Owes (liabilities)Shareholders' equity
97%
  • 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

Operating activities
▲ ₹11,473 Cr
Investing activities
▼ −₹11,125 Cr
Financing activities
▲ ₹567 Cr
Free cash flow
▲ ₹11,228 Cr
Net change in cash
▲ ₹915 Cr

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
₹ croreFY20FY21FY22FY23FY24FY25FY26
Total revenue18,235.0331,182.7631,142.0031,316.0639,195.5547,776.1347,792.12
Cost of revenue———————
Gross profit———————
Operating expenses17,733.8830,618.3730,663.7430,768.5446,028.3445,862.4547,348.63
Operating income501.15564.38478.25547.53−6,832.801,913.69443.49
Depreciation153.02160.14178.70175.82211.31235.88333.12
Profit before tax442.49592.89388.66527.21416.11450.11119.79
Tax169.6333.1470.2575.3122.5643.3615.33
Net profit144.99425.39253.37378.49340.11327.2383.99
EPS (₹)5.3814.517.3410.979.939.632.41
Dividend per share (₹)———————

Max Financial Services vs Peers

Side by side with other insurance (accident & health) companies. The small bars compare each column.

CompanyPriceChangeMarket capP/EP/BROE (5 yr)Net marginDiv. yield
Max Financial Services This stock ₹1,444.00 ▼ −0.96% ₹49,835 Cr 453.41 9.34 6.63% 0.27% 0.00%
Max India ₹157.00 ▲ +7.06% ₹882 Cr — 2.11 −13.45% −63.94% —

Peer prices and ratios as last reported by the data provider. Company names link to their own pages.

Shareholding Pattern

Who owns Max Financial Services shares, quarter by quarter (latest on top).

PromoterFIIMFOther
Jun '26
48.1%
36.8%
13.9%
Mar '26
Dec '25
Sep '25
HolderSep '25Dec '25Mar '26Jun '26Change
Promoter1.71%1.25%1.25%1.25% 0.00 pts
FII44.78%45.13%47.88%48.06% ▲ +0.18 pts
MF38.66%39.49%36.99%36.76% ▼ −0.23 pts
Other14.85%14.13%13.88%13.93% ▲ +0.05 pts

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.

Max Financial ServicesBenchmarkRule-of-thumb bands

Valuation The price against earnings, book value and sales

P/E (TTM)Price ÷ yearly earnings per share
453.41
▲ 4,149% above the sector average of 10.67
P/E, 12-month rangeLow 51.92 · high 614.90
71%
Today's P/E sits 71% of the way from its low to its high
P/BPrice ÷ book value per share
9.34
P/SMarket cap ÷ last 12 months' revenue
1.00
P/CFPrice ÷ cash flow per share
110.50

Profitability Of every ₹100 of sales, how much is kept?

Operating marginKept after running costs
0.62%
▲ above its 5-yr average of −1.75%
Pre-tax marginKept before tax
0.31%
▼ below its 5-yr average of 0.96%
Net marginKept as profit
0.27%
▼ below its 5-yr average of 0.85%

Returns & efficiency How well does it use its money?

Return on equityProfit on shareholders' money
1.57%
▼ below its 5-yr average of 6.63%
Return on assetsProfit on everything it owns
0.05%
▼ below its 5-yr average of 0.22%
Return on capital employedProfit before interest and tax on equity + debt
1.67%

Growth Is the business getting bigger?

Revenue — last 12 months
+4.9%
▲ growing
Revenue — 3 yr, a year
+15.1%
▲ growing
Revenue — 5 yr, a year
+8.9%
▲ growing
Net profit — 3 yr, a year
−39.5%
▼ shrinking (off the scale)
Net profit — 5 yr, a year
−27.7%
▼ shrinking (off the scale)
EPS — last 12 months
−60.3%
▼ shrinking (off the scale)
EPS — 3 yr, a year
−39.6%
▼ shrinking (off the scale)
EPS — 5 yr, a year
−30.1%
▼ shrinking (off the scale)
Book value — 5 yr, a year
+9.8%
▲ growing

Financial strength Can it pay its bills and debts?

Debt to equityBorrowings for every ₹1 of shareholders' money — a lender's loans are funded this way
0.44×
• Normal for a lender
Payout ratioShare of profit paid as dividend
0.00%
• Keeps most

Per share What each share stands for

EPS (TTM)
₹3.21
Book value
₹154.66
Cash flow
₹13.26
Dividend
₹0.00
Revenue
₹1,448.93

The share price is 9.34× 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

P/E excluding extraordinary items, most recent fiscal year603.78
Current Dividend Yield - Common Stock Primary Issue, LTM0.00
Price to Book - most recent fiscal year9.43
P/E Basic excluding extraordinary items - TTM501.45
P/E including extraordinary items - TTM454.69
P/E excluding extraordinary items low, trailing 12 months51.92
Price to Tangible Book - most fiscal year11.47
Price to sales - most recent fiscal year1.05
Price to Cash Flow per share - trailing 12 month110.50
Price to Free Cash Flow per Share - most recent fiscal year4.48
P/E Normalized, most recent fiscal year650.46
P/E excluding extraordinary items high, trailing 12 months614.90
P/E excluding extraordinary items, most recent fiscal year quarter461.56
Price to sales - trailing 12 month1.01
Net Debt, LFY−627.10

Per share

Cash Flow per share - trailing 12 month13.26
Cash Flow per share - most recent fiscal year12.80
EPS including extraordinary items - trailing 12 month3.21
EPS including extraordinary items - most recent fiscal year2.45
EBITD per share - trailing 12 month18.22
Revenue/share - trailing 12 month1,448.93
EPS excluding extraordinary items - trailing 12 month3.16
EPS Basic excluding extraordinary items - most recent fiscal year2.41
EPS Basic excluding extraordinary items - trailing 12 month3.16
Book value per share - most recent fiscal year154.67
Revenue/share - most recent fiscal year1,392.61
EPS Normalized - most recent fiscal year2.24
Book value (tangible) per share - most recent fiscal year128.49
Dividends per share - trailing 12 month0.00
EPS excluding extraordinary items - most recent fiscal year2.41
Cash per share - most recent fiscal year70.36

Margins

Operating margin - trailing 12 month0.62
Operating margin - 1st historical fiscal year0.93
Operating Margin - 5 year average−1.75
Net Profit Margin % - 1st historical fiscal year0.22
Net Profit Margin % - trailing 12 month0.27
Net Profit Margin - 5 year average0.85
Pretax Margin - 5 year average0.96
Pretax margin - 1st historical fiscal year0.25
Pretax margin - trailing 12 month0.31
Free Operating Cash Flow/Revenue, 5 Year Average21.99

Growth

EPS Change %, TTM over TTM−60.30
Revenue growth rate, 5 year8.92
EPS growth rate, 5 year−30.13
Revenue Change % - most recent quarter 1 year ago16.73
Growth rate% - EPS, 3 year−39.61
Revenue/share (5 yr growth)5.54
Free Operating Cash Flow, 5 Year CAGR10.52
Tangible Book Value, Total Equity, 5 Year CAGR10.38
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year Interim CAGR−0.49
Capital Spending growth rate, 5 year24.13
Revenue Change %, TTM over TTM4.94
Growth rate% - Revenue, 3 year15.13
Book value per share growth rate, 5 year9.81
EPS Change % - most recent quarter 1 year ago35.91
Net Profit Margin growth rate, 5 year−34.37
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR3.87
Total Debt, 5 Year CAGR53.08

Financial strength

Net Interest coverage - most recent fiscal year1.28
Free Cash Flow - most recent fiscal year1,12,282.60
LT debt/equity - most recent fiscal year0.43
Payout ratio - trailing 12 month0.00
Total debt/total equity - most recent fiscal year0.44
Net Interest coverage - trailing 12 month1.72
Payout ratio - most recent fiscal year0.00

Returns & efficiency

Return on average equity - 5 year average6.63
Net Income/employee - trailing 12 month13,57,68,800.00
Revenue/employee - most recent fiscal year47,79,21,20,000.00
Return on average assets - most recent fiscal year0.05
Revenue/employee - trailing 12 month49,75,85,40,000.00
Return on average assets - 5 year average0.22
Net Income/employee - most recent fiscal year10,44,58,800.00
Asset turnover - most recent fiscal year0.25
Return on average equity - most recent fiscal year1.57

Price & volume

Market Cap49,907.04
52 week Low Date24 Sep 2026
Price - 1 Day % Change3.40
Relative (S&P500) price percent change - 13 week−5.60
Avg trading volume last 10 days1.99
Price - 13 week price percent change−9.52
Price - 52 week price percent change−6.87
Avg Trading Volume Last 3 months20.53
Price - 5 Day % Change−6.48
Price % Change Month To Date−7.32
Relative (S&P500) price percent change - 04 week−2.55
52 week High Date23 Feb 2026
Price - 26 week price percent change−6.36
PDATE25 Sep 2026
Price - YTD price percent change−12.79
Relative (S&P500) price percent change - 52 week2.28
NPRICE1,458.00
Relative (S&P500) price percent change - 26 week−6.76
52 week Low1,360.10
52 week High1,892.50
Beta0.79
Relative (S&P500) price percent change - Year to Date0.58

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 5 older events
  • MeetingPostal Ballot
  • BoardQuarterly Results
  • MeetingAnnual General Meeting
  • BoardAudited 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₹49,835 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.

Stock data comes from the exchange feed via our data provider. It is not real-time and can be delayed, so check the price with your broker before you trade. This page is for information and education only. It is not investment advice, research or a recommendation to buy, sell or hold any security. Investments in the securities market are subject to market risks; read all related documents carefully before investing. See all stocks →

Frequently Asked Questions

Max Financial Services (NSE: MFSL) last traded at ₹1,444.00 on the NSE, down 0.96% (₹14.00) on the day, as of 28 Sep 2026. The day's range was ₹1,432.00 – ₹1,459.15.

Max Financial Services's 52-week high is ₹1,891.35 (23 Feb 2026) and its 52-week low is ₹1,360.00 (24 Sep 2026). At ₹1,444.00 the share is 23.7% below its high and 6.2% above its low.

Max Financial Services's market capitalisation is ₹49,835 Cr (₹49,835 Cr). It is part of the NIFTY 500 index.

Max Financial Services's P/E ratio (trailing 12 months) is 453.41. The sector average is 10.67, so investors pay 4,149% more for each rupee of its earnings than for the average company in its sector. Its earnings per share (TTM) are ₹3.21.

Max Financial Services shares are down 6.35% over the last year, down 13.63% so far this year, down 7.26% over 6 months, down 10.39% over 3 months. Over the last year the stock did 2.28% better than the market.

In FY26 (year to Mar 2026), Max Financial Services reported revenue of ₹47,792 Cr (up 0.03% on the year before) and a net profit of ₹84 Cr. Earnings per share were ₹2.41.

There is no dividend on record for Max Financial Services in the data shown on this page.

As of Jun 2026: Promoter 1.25%, FII 48.06%, MF 36.76%, Other 13.93%.

Max Financial Services's listed peers in Insurance (Accident & Health) include Max India. By market capitalisation it ranks #1 of 2 in this group.

No. Max Financial Services has debt — its debt-to-equity ratio is 0.44 and total debt was ₹2,340 Cr in FY26. As a lender it borrows to fund its loans, so debt is part of its business.