Max Financial Services
Max Financial Services Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Max Financial Services Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Max Financial Services Ltd trades at a P/E of 674.79× and P/B of 19.81×, against the Financial Services sector median P/E of 17.67×.
Valuation
Profitability
Growth
Financial Health
Max Financial Services Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Max Financial Services Ltd, switchable between annual and quarterly views, consolidated or standalone.
Max Financial Services Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹54,252.04 Cr and reported EPS of ₹2.34.
| Period | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 18,240 | 31,274 | 31,181 | 31,413 | 46,576 | 46,469 | 47,674 |
| Other Income | 2 | 14 | 6 | 18 | 42 | 28 | 22 |
| Total Income | 18,242 | 31,288 | 31,188 | 31,431 | 46,618 | 46,497 | 47,696 |
| Gross Profit | 18,240 | 31,274 | 31,181 | 31,413 | 46,576 | 46,469 | 47,674 |
| +Operating Expenses | 17,716 | 30,745 | 30,771 | 30,862 | 46,162 | 45,998 | 47,464 |
| EBITDA | 524 | 529 | 410 | 550 | 415 | 471 | 210 |
| +Non-Operating Expenses | 12 | 6 | 30 | 42 | 47 | 50 | 114 |
| Profit Before Tax (PBT) | 442 | 593 | 389 | 527 | 415 | 450 | 120 |
| +Tax Expense | 170 | 33 | 70 | 75 | 22 | 43 | 15 |
| Profit After Tax (PAT) | 273 | 560 | 318 | 452 | 393 | 403 | 106 |
| Earnings Per Share (EPS) | 5.38 | 12.33 | 7.34 | 10.97 | 9.85 | 9.48 | 2.43 |
| Diluted Shares Outstanding (Nos.) | 27 | 35 | 35 | 35 | 35 | 35 | 35 |
| +Banking Income | 18,242 | 31,288 | 31,188 | 31,431 | 46,618 | 46,497 | 47,696 |
| +Additional Disclosures | 17,940 | 30,825 | 30,852 | 30,969 | 46,258 | 46,145 | 47,529 |
| Sales Growth % | — | 71.46 | -0.30 | 0.74 | 48.27 | -0.23 | 2.59 |
| YoY Sales Growth % | — | 71.46 | -0.30 | 0.74 | 48.27 | -0.23 | 2.59 |
| Employee Cost % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Cost % | 97 | 98 | 99 | 98 | 99 | 99 | 99 |
| OPM % | 3 | 2 | 1 | 2 | 1 | 1 | 0 |
| Tax % | 38 | 6 | 18 | 14 | 5 | 10 | 13 |
| Profit Growth % | — | 105.15 | -43.12 | 41.93 | -13.12 | 2.75 | -73.83 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| +Additional Fields | 512 | 524 | 405 | 546 | 411 | 468 | 208 |
Max Financial Services segment analysis: revenue and profit mix.
Disclosed business segments at Max Financial Services with their share of revenue and profit, switchable between consolidated and standalone reporting.
Max Financial Services discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Max Financial Services Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Max Financial Services Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Max Financial Services Ltd's investment case rests on 6 positive markers and 8 flagged concerns drawn from the latest reported filings.
What you're getting.
Max Financial Services (MFSL) exhibits a low debt-to-equity ratio of 0.19, indicating a healthy financial structure and lower risk compared to higher-debt companies in the sector. This suggests a manageable debt burden and improved financial stability.
Despite recent quarterly profit variability, MFSL's Return on Equity (ROE) stands at 7.26%, signifying that the company is generating reasonable returns on shareholder investments. This metric is a key indicator of profitability and efficiency.
The company's quarterly sales growth shows an 8.67% increase in the most recent quarter, suggesting potential for continued revenue expansion and market share growth. This positive trend indicates underlying business momentum.
The significant presence of FIIs (44.78%) and DIIs (47.26%) indicates substantial institutional investor confidence in MFSL's long-term prospects and potential for growth, despite low promoter holding.
The Indian life insurance sector, where MFSL operates, presents significant growth opportunities due to low insurance penetration and rising disposable incomes, potentially driving future policy sales and revenue expansion.
What can break it.
MFSL exhibits a high Price-to-Earnings (PE) ratio of 193.00, suggesting the stock might be overvalued compared to its earnings. Investors should carefully assess the valuation and potential risks associated with this high PE ratio.
The recent quarterly profit variation shows a significant -45.20% decrease, raising concerns about the company's short-term profitability and the sustainability of its earnings growth. This volatility needs further investigation.
The low promoter holding of 1.71% raises concerns about potential corporate governance issues and the lack of strong promoter support. This could impact the company's long-term strategic direction and stability.
The stock price has shown volatility, with a 52-week high of 1679.00 and a low of 950.00. This price fluctuation indicates market uncertainty and potential investment risk for short-term investors.
The company's long-term recommendation is 'Avoid' due to weak fundamentals, scoring only 24% with a high-risk level. This suggests significant financial concerns, making it unsuitable for long-term investment strategies.
What would change my mind.
Trim if P/E re-rates above 877 (~49.6× the sector multiple of 17.7). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 13.17. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 8%. The operating engine is no longer compounding capital efficiently.
Max Financial Services Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Max Financial Services Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Max Financial Services Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Max Financial Services Ltd — derived from the live tape, not yesterday's close.
Max Financial Services Ltd last traded at ₹1,579 with an intraday range of ₹1,548.1–₹1,592.5 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1579.00| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1687.10 | +108.10 | +6.85% |
| R3 | 1642.70 | +63.70 | +4.03% |
| R2 | 1617.60 | +38.60 | +2.44% |
| R1 | 1598.30 | +19.30 | +1.22% |
| PIVOT | 1573.20 | -5.80 | -0.37% |
| CURRENT | 1579.00 | — | — |
| S1 | 1465.10 | -113.90 | -7.21% |
| S2 | 1509.50 | -69.50 | -4.40% |
| S3 | 1528.80 | -50.20 | -3.18% |
| S4 | 1553.90 | -25.10 | -1.59% |
MFSL is trading Above CPR, indicating Bullishness
CPR is Average
Day's range: 1573.9 ~ 1592.5
Trading Inside opening range
Max Financial Services Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Max Financial Services Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Max Financial Services Ltd stood at 61.7% of traded volume, against a 20-day average of 54.0%.
Max Financial Services announcements: results, concalls, ratings, M&A.
Filings Max Financial Services sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Max Financial Services files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 150 documents below.
Copy of Newspaper Publication
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
Shareholders meeting
Max Financial Services Limited has informed the Exchange regarding Notice of Postal Ballot
Reply to Clarification- Financial results
The Exchange had sought clarification from Max Financial Services Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI…
Updates
Max Financial Services Limited has informed the Exchange regarding 'Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026'.
Copy of Newspaper Publication
Max Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
Investor decks & rating reports.
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Max Financial Services insider trading: promoter and management activity.
Promoter, director and designated-employee transactions in Max Financial Services as reported to SEBI — buying and selling signals from the people who know the business best.
Max Financial Services insider activity below tracks 5 reported promoter, director and designated-employee transactions under SEBI Regulation 7(2).
| Insider | Category | Txn Date | Action | Quantity | Value (₹) | Price |
|---|---|---|---|---|---|---|
| Max Financial Employees Welfare Trust | Insider | 04 Jun 2025 | buy | +8.7 K | ₹1.31 Cr | ₹1,513.57 |
| Max Financial Employees Welfare Trust | Insider | 02 Jun 2025 | buy | +91.8 K | ₹14.03 Cr | ₹1,528.79 |
| Max Financial Employees Welfare Trust | Insider | 20 May 2025 | buy | +1.05 L | ₹14.49 Cr | ₹1,379.66 |
| Max Financial Employees Welfare Trust | Insider | 19 May 2025 | buy | +1.75 L | ₹24.08 Cr | ₹1,372.80 |
| MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED | Insider | 27 Mar 2025 | sell | −55.00 L | ₹611.6 Cr | ₹1,112.00 |
Max Financial Services dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Max Financial Services has declared, sequenced by announce and record date.
Max Financial Services corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Max Financial Services Ltd: business, sector, key facts.
What Max Financial Services Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Max Financial Services Ltd operates in the Financial Services, listed as NSE: MFSL, BSE: 500271.
Max Financial Services Limited (MFSL) is a prominent Indian financial services company primarily focused on providing business investment and management advisory services. Its operations are segmented into two key areas: Business Investments and Others, and Life Insurance. The company's core strength lies in its diverse portfolio of financial products and services designed to cater to a broad spectrum of individual and corporate clients.
The Life Insurance segment constitutes a significant portion of MFSL's business. This segment offers a comprehensive range of life insurance products, including both participating and non-participating policies, along with linked products. These products cover various life-cycle needs, such as life insurance protection, pension planning, and health benefits. Further enhancing the appeal of these core products, MFSL provides various riders to customize insurance coverage according to specific client requirements. These products are offered to both individual customers and groups, demonstrating MFSL's capacity to serve diverse client profiles.
Beyond life insurance, MFSL engages in Business Investments and Other activities. This segment encompasses diverse ventures and investments, contributing to the company's overall financial performance. While specifics about the nature of these investments are limited in the provided information, their inclusion underscores MFSL's commitment to diversification and strategic growth beyond its core life insurance business.
MFSL leverages a multi-channel distribution strategy to reach its clientele effectively. The company utilizes a robust network of individual agents, corporate agents, banks, brokers, and other channels. This diversified approach maximizes market penetration and ensures accessibility to a broader customer base, contributing to the company's market reach and competitive advantage.
In summary, Max Financial Services Limited operates as a multifaceted financial services provider with a focus on life insurance and strategic investments. Its broad product range, diverse distribution network, and dual-segment operational structure position it as a significant player within the Indian financial landscape. Established in 1988 and headquartered in Noida, India, MFSL continues to grow and adapt to the evolving needs of the Indian financial market.
Questions investors ask about Max Financial Services Ltd (MFSL).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Max Financial Services Ltd (MFSL)?
The current share price of Max Financial Services Ltd (MFSL) is ₹1,579. Today, the stock has gained by ₹16.90 (1.08%), trading in a range of ₹1,548.1 to ₹1,592.5. The stock opened at ₹1,573.9 with a trading volume of 5,29,818 shares.
02Is Max Financial Services Ltd stock a good investment for long-term?
Max Financial Services Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹54,252.04 crores, P/E ratio of 674.79, ROE of 1.63%, and ROCE of 8.13%. The dividend yield stands at 0.00%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Max Financial Services Ltd stock?
The 52-week high price of Max Financial Services Ltd (MFSL) is ₹0, while the 52-week low is ₹0. Currently trading at ₹1,579, the stock is Infinity% away from its 52-week low and -Infinity% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Max Financial Services Ltd stock at the current price?
Whether to buy Max Financial Services Ltd stock at ₹1,579 depends on multiple factors. The stock is currently trading with a P/E ratio of 674.79 and P/B ratio of 19.81. Today's performance shows a gain of 1.08%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Max Financial Services Ltd and when is the next dividend?
Max Financial Services Ltd offers a dividend yield of 0.00%, which means for every ₹100 invested at the current price of ₹1,579, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹2.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Max Financial Services Ltd?
Max Financial Services Ltd's key financial metrics include: P/E Ratio: 674.79, P/B Ratio: 19.81, ROE: 1.63%, ROCE: 8.13%, Dividend Yield: 0.00%, EPS: ₹2.34, Book Value: ₹79.7, and Debt-to-Equity: 12.67. The company's market cap stands at ₹54,252.04 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Max Financial Services Ltd stock performing today in the market?
Max Financial Services Ltd stock opened at ₹1,573.9 and is currently trading at ₹1,579, showing a gain of ₹16.90 (1.08%). The intraday high is ₹1,592.5 and low is ₹1,548.1. The trading volume stands at 5,29,818 shares, indicating moderate market participation today.
08What is the P/E ratio of Max Financial Services Ltd and what does it indicate?
Max Financial Services Ltd has a Price-to-Earnings (P/E) ratio of 674.79, which means investors are willing to pay ₹674.79 for every ₹1 of earnings. With an EPS of ₹2.34, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Max Financial Services Ltd (MFSL) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
Related
Peers, sector trends, screeners and strategy playbooks contextual to this stock.
- Authum Investment & Infrastructure (AIIL) Share PricePeer
- AKCapital Services (AKCAPIT) Share PricePeer
- Algoquant Fintech (ALGOQUANT) Share PricePeer
- ARSSBL (ARSSBL) Share PricePeer
- Ashika Credit Capital (ASHIKA) Share PricePeer
- Other overvalued NSE stocksScreener
- Top Gainers TodayScreener
- EMA Crossover ScreenerScreener
- Stock Quality ScorecardScreener
- All Technical ScreenersScreener
- All Trading StrategiesStrategy