Max Financial Services Limited
Max Financial Services Limited, through its subsidiary, engages in life insurance business in India. The company operates through Business Investments and Others, and Life Insurance segments. It offers participating and nonparticipating and linked products covering life insurance, pension and health benefits, including riders for individual and group through individual agents, corporate agents, banks, brokers, and other channels. The company is also involved treasury investment activities; and provision of management advisory services. Max Financial Services Limited was incorporated in 1988 and is based in Noida, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockStrengths1
- Strong operating cash conversion β CFO/PAT ratio of 0.91
Concerns1
- Operating margin declining for 3 consecutive years (38.0% β -47.0% β -49.0%)
Rule-based from financial data. Not advice.
Monthly Returns
Year-to-Date ROI
Historical Volatility
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ16.00 Cr | β | βΉ-9.00 | β | β | -0.1% | -23.8% | -18.2% |
| Mar 2024 | βΉ21.00 Cr | β | βΉ-11.00 | β | β | -0.2% | -63.8% | -178.6% |
| Mar 2023 | βΉ58.00 Cr | β | βΉ14.00 Cr | β | β | 0.2% | -71.0% | -86.4% |
| Mar 2022 | βΉ200.00 Cr | β | βΉ103.00 Cr | β | β | 1.5% | -34.9% | 4.0% |
| Mar 2021 | βΉ307.00 Cr | β | βΉ99.00 Cr | β | β | 1.5% | -38.0% | -63.7% |
| Mar 2020 | βΉ495.00 Cr | β | βΉ273.00 Cr | β | β | 12.0% | 56.2% | 457.1% |
| Mar 2019 | βΉ317.00 Cr | β | βΉ49.00 Cr | β | β | 2.5% | 20.1% | -66.0% |
| Mar 2018 | βΉ264.00 Cr | β | βΉ144.00 Cr | β | β | 7.5% | 3.1% | -6.5% |
| Mar 2017 | βΉ256.00 Cr | β | βΉ154.00 Cr | β | β | 8.4% | 27.4% | 33.9% |
| Mar 2016 | βΉ201.00 Cr | β | βΉ115.00 Cr | β | β | 6.9% | -65.5% | -70.6% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | TTM |
|---|---|
| Revenue / Net Sales | 14 |
| Total Expenses | 23 |
| EBIT / Operating Profit | -9 |
| OPM % | -68% |
| Other Income | 1 |
| Finance Costs | 0 |
| Depreciation & Amortisation | 1 |
| Profit Before Tax | -10 |
| Tax % | - |
| Net Profit / PAT | -10 |
| EPS (βΉ) | -0.30 |
| Dividend Payout % | - |
Peer Comparison
Financials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Max Financial Services Limitedthis co. | βΉ56.81 K Cr | βΉ16.00 Cr | 0.00 | 8.44 | -5680.14 | -23.8% |
| HDFC Bank Ltd. | βΉ14.43 L Cr | βΉ3.01 L Cr | 20.30 | 2.78 | β | 16.3% |
| ICICI Bank Ltd. | βΉ10.28 L Cr | βΉ1.63 L Cr | 20.70 | 3.32 | β | 14.3% |
| State Bank Of India | βΉ9.49 L Cr | βΉ4.62 L Cr | 13.30 | 1.83 | β | 11.4% |
| Bajaj Finance Limited | βΉ5.91 L Cr | βΉ61.95 K Cr | 36.80 | 6.33 | β | 32.0% |
| LIFE INSURANCE CORPORATION OF INDIA | βΉ5.26 L Cr | βΉ8.87 L Cr | 10.30 | 3.73 | 9.87 | 5.2% |
| Kotak Mahindra Bank Ltd. | βΉ4.24 L Cr | βΉ52.92 K Cr | 31.70 | 3.39 | β | 15.5% |
| Industry Average | β | βΉ30.80 K Cr | 45.91 | 4.87 | 70.91 | 14.6% |