Flash Finance

Max Financial Services LimitedMFSLCorporate

Finance & Investments Latest results: Jun 2026 14 quarters of data
Consolidated Standalone
₹1,294.90
MCap ₹44,454 Cr · P/E 323.8
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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.
₹14,970 Cr
Sales · Jun 2026
+16.7% YoY
₹167 Cr
Operating Profit · Jun 2026
+40.2% YoY
1.1%
OPM % · Jun 2026
+22.2% YoY
₹118 Cr
Net Profit · Jun 2026
+37.5% YoY
₹2.78
EPS · Jun 2026
+37.6% YoY

📝 Max Financial Services Limited — results explained

Quarter ended June 2026 (Q1 FY27)

Max Financial Services Limited reported revenue of ₹14,970 crore for the quarter ended June 2026 (Q1 FY27), up 16.7% from ₹12,822 crore in the same quarter last year, and up 38.6% sequentially over the March 2026 quarter.

Net profit rose 37.5% year-on-year to ₹118 crore, from ₹86 crore. Earnings per share (EPS) came in at ₹2.78.

Operating profit stood at ₹167 crore — an operating margin (OPM) of 1.1%, compared with 0.9% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Max Financial Services Limited posted revenue of ₹47,675 crore, a growth of 2.6% over FY25, with a net profit of ₹105 crore (down 73.9% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹49,823 crore with a net profit of ₹137 crore.

Valuation snapshot

At the current price of ₹1,294.90, MFSL has a market capitalisation of ₹44,454 crore and a trailing P/E of about 323.8.

Within the Finance & Investments industry, it is the 6th-largest of the 117 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 1.25%, foreign institutional investors (FIIs) 48.62%, domestic institutional investors (DIIs) 43.70%, public shareholders 6.44% of Max Financial Services Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close
Valuation
Market Cap ?
₹44,454 Cr
Current Price ?
₹1,294.9
P/E ?
323.79above ind
Industry P/E ?
18.90
P/B ?
8.42
P/S ?
0.89
P/FCF ?
3.96
Enterprise Value ?
₹46,313 Cr
EV/EBITDA ?
178.23
PEG ?
N/A
Earnings Yield ?
0.6%
Dividend Yield ?
0.00%
Profitability & Returns
Sales (TTM) ?
₹49,823 Cr
OPM ?
0.5%
Profit after tax (TTM) ?
₹137 Cr
EPS (TTM) ?
₹4.00
ROCE ?
3.0%
ROE ?
2.6%
ROA ?
0.1%
Growth
Sales — latest qtr ?
₹14,970 Cr
PAT — latest qtr ?
₹118 Cr
YoY qtr sales growth ?
16.7%
YoY qtr profit growth ?
37.5%
Sales growth (3y) ?
15%
Sales growth (5y) ?
9%
Profit growth (3y) ?
-40%
Profit growth (5y) ?
-28%
Financial Health
Debt ?
₹1,859 Cr
Debt to Equity ?
0.35
Interest Coverage ?
1.9
Current Ratio ?
N/A
Ownership
Promoter holding ?
1.25%
Change in promoter holding ?
-0.49%
Pledged percentage ?
N/A
Market
Return 3 months ?
-15.8%
Return 6 months ?
-23.1%

🗓️ Quarterly results (14 quarters · ₹ Cr)

same fiscal quarter as Jun bestweakest per row · for costs (interest, NPAs) low is best
Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026 YoY % QoQ %
Sales 9,9299,16810,16512,35614,88811,79913,3728,92312,37612,8229,79214,25910,80214,970 +16.7% +38.6%
Operating Profit 64125144209-5719017389201192178-6167 +40.2% +2880.8%
Other Income 53254101231837957 +136.7% +42.0%
Interest 999141191310152021363536 +77.7% +1.5%
Depreciation 11111111111100 -50.0% —
Profit Before Tax 58118158198-591821628122101650-36138 +36.6% +483.1%
Net Profit 52101170171-50156139703886645-32118 +37.5% +469.7%
EPS 1.332.544.294.30-1.283.693.261.620.912.020.121.06-0.762.78 +37.6% +465.8%
OPM % 0.6% 1.4% 1.4% 1.7% -0.4% 1.6% 1.3% 1.0% 0.2% 0.9% 0.2% 0.5% -0.1% 1.1% +22.2% +1200.0%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹46,470 Cr ₹47,675 Cr ₹49,823 Cr +2.6%
Operating Profit ₹472 Cr ₹212 Cr ₹260 Cr -55.1%
OPM % 1.02% 0.44% 0.52% -56.9%
NPM % 0.87% 0.22% 0.28% -74.7%
Other Income ₹24 Cr ₹24 Cr ₹28 Cr +0.0%
Depreciation ₹4 Cr ₹3 Cr ₹2 Cr -25.0%
Interest ₹47 Cr ₹112 Cr ₹128 Cr +138.3%
EBIT ₹468 Cr ₹209 Cr ₹257 Cr -55.3%
PBT ₹447 Cr ₹121 Cr ₹158 Cr -72.9%
Tax — — ₹20 Cr —
Net Profit ₹403 Cr ₹105 Cr ₹137 Cr -73.9%
EPS ₹9.48 ₹2.44 ₹3.20 -74.3%
Material Cost — — — —
Employee Cost — — ₹10 Cr —
Extraordinary Items — — — —

🏛️ Balance Sheet (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Equity Capital 69696969 +0.0%
Reserves 3,4503,7975,2065,213 +0.1%
Borrowings 5235231,0261,859 +81.2%
Other Liabilities 127,783158,383183,698191,795 +4.4%
Total Liabilities 131,824162,771189,999198,936 +4.7%
Fixed Assets 614612610607 -0.5%
CWIP 0000 —
Investments 123,355152,959179,8419,716 -94.6%
Other Assets 7,8549,2019,548188,613 +1875.4%
Total Assets 131,824162,771189,999198,936 +4.7%

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 9,9226,1048,35211,473 +37.4%
Cash from Investing Activity -11,555-5,001-9,703-11,125 -14.7%
Cash from Financing Activity -233-1171,961567 -71.1%
Net Cash Flow -1,866986610915 +50.0%
Free Cash Flow 9,7505,8838,13611,235 +38.1%
CFO/OP 1,809%1,436%1,757%5,441% +209.7%

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 0000 —
Cash Conversion Cycle 0000 —
Working Capital Days -1,402-1,172-1,36836 +102.6%
ROCE % 12%10%8%3% -62.5%

👥 Shareholding (latest 5 periods)

Metric Jun 2025Sep 2025Dec 2025Mar 2026Sep 2026 % Chg
Promoters 1.74%1.71%1.25%1.25%1.25% +0.0%
FIIs 44.71%44.78%45.13%47.88%48.62% +1.5%
DIIs 47.29%47.26%47.35%44.74%43.70% -2.3%
Public 6.25%6.24%6.26%6.11%6.44% +5.4%
No. of Shareholders 80,46776,23975,63677,06985,147 +10.5%

⚖️ Peer comparison

Industry: Finance & Investments · top 25 of 117 companies · full page →
# Company CMP MCap (Cr) P/E Sales TTM NP TTM OPM% NPM% Sales YoY% NP YoY% Qtr Rev Δ% Qtr NP Δ%
1 LICI Life Insurance ₹398.20 503,723 8.4 881,845 60,055 -7.5% 6.8% 10.0% 18.9% -43.2% 24.0%
2 SBILIFE SBI Life ₹1,671.70 167,740 67.9 112,315 2,471 0.7% 2.2% -3.9% 2.4% -82.4% -1.1%
3 ICICIGI ICICI Lombard ₹1,508.90 75,386 29.5 27,196 2,556 5.4% 9.4% 12.7% 10.6% -3.2% 15.4%
4 ICICIPRULI ICICI Prudential ₹496.90 72,089 44.8 63,356 1,608 0.3% 2.5% -10.5% 35.7% -79.7% 62.1%
5 GICRE General Insurance ₹337.75 59,255 6.7 51,723 8,877 16.9% 17.2% 6.8% 30.0% -8.6% -31.1%
6 MFSL Max Financial ₹1,585.90 54,444 492.4 49,823 137 0.5% 0.3% 2.6% -73.9% 16.7% 37.5%
7 STARHEALTH Star Health ₹555.55 32,689 38.7 18,509 844 4.4% 4.6% 10.7% -13.8% 16.2% 109.0%
8 NIACL New India ₹171.56 28,273 36.7 49,363 771 -1.3% 1.6% 14.3% 36.4% -3.6% -160.7%
9 GODIGIT Go Digit ₹250.90 23,196 47.1 10,128 492 0.7% 4.9% 6.8% 28.0% 5.5% -37.4%
10 FIVESTAR Five-Star Business ₹549.40 16,218 14.7 3,293 1,103 11.0% 33.5% 13.3% 2.3% 5.9% 2.0%
11 NIVABUPA Niva Bupa ₹74.77 13,830 38.1 7,598 360 4.2% 4.7% 24.6% -38.5% 65.8% 251.4%
12 PRUDENT Prudent Corporate ₹3,123.30 12,933 52.8 1,372 246 24.2% 17.9% 19.5% 13.8% 18.2% 43.8%
13 EDELWEISS Edelweiss Financial ₹126.74 11,996 17.1 10,508 711 27.5% 6.8% 12.5% 27.1% 3.7% 30.5%
14 IIFLCAPS IIFL Capital ₹344.80 10,867 18.8 2,433 572 35.0% 23.5% 0.6% -20.8% 2.3% 4.6%
15 SBFC SBFC Finance ₹87.70 9,745 20.1 1,783 480 9.8% 26.9% 28.6% 30.7% 26.7% 28.8%
16 RELIGARE Religare Enterprises ₹223.35 7,700 n/m 8,953 18 0.7% 0.2% 14.8% -60.3% 26.5% -687.3%
17 PAISALO Paisalo Digital ₹76.83 7,023 29.4 943 237 0.0% 25.1% 22.0% 19.1% 33.8% 56.5%
18 FEDFINA Fedbank Financial ₹150.76 5,655 12.9 2,563 434 12.9% 16.9% 7.1% 52.2% 34.3% 63.4%
19 MASFIN MAS Financial ₹288.85 5,241 13.3 2,092 398 7.1% 19.0% 24.8% 19.4% 20.3% 26.6%
20 NORTHARC Northern Arc ₹301.00 4,865 12.0 2,705 404 0.0% 14.9% 14.8% 34.2% 22.7% 250.0%
21 PILANIINVS Pilani Investment ₹4,020.00 4,451 — 248 -12 87.1% -4.9% -6.4% -68.5% -70.9% -1075.5%
22 SHAREINDIA Share India ₹183.78 4,022 11.1 1,577 364 40.1% 23.1% 1.5% -1.2% 31.4% 48.1%
23 KIRLOSIND Kirloskar Industries ₹3,690.00 3,878 50.6 113 76 71.5% 67.0% 9.0% -2.1% -27.9% -9.4%
24 INDOSTAR IndoStar Capital ₹239.15 3,866 — 1,417 -395 6.6% -27.8% 74.4% 15.7% -76.0% -97.9%
25 MUTHOOTMF Muthoot Microfin ₹179.17 3,006 12.5 2,493 245 4.3% 9.8% -7.1% 176.6% 20.0% 1250.0%
❓ Frequently asked questions
What was Max Financial Services Limited's revenue in Q1 FY27?
Max Financial Services Limited reported revenue of ₹14,970 crore for the quarter ended June 2026 (Q1 FY27), up 16.7% from ₹12,822 crore in the same quarter last year, and up 38.6% sequentially over the March 2026 quarter.
What was Max Financial Services Limited's net profit in Q1 FY27?
Net profit rose 37.5% year-on-year to ₹118 crore, from ₹86 crore. Earnings per share (EPS) came in at ₹2.78.
What is MFSL's market capitalisation and P/E ratio?
At the current price of ₹1,294.90, MFSL has a market capitalisation of ₹44,454 crore and a trailing P/E of about 323.8.
Who owns Max Financial Services Limited? (shareholding pattern)
As of Sep 2026, promoters held 1.25%, foreign institutional investors (FIIs) 48.62%, domestic institutional investors (DIIs) 43.70%, public shareholders 6.44% of Max Financial Services Limited.
TTM ends 2026-06-30. Amounts are ₹ crore unless stated otherwise. Figures are extracted by AI from public quarterly filings; gaps are filled from public market data. Live price refreshed about twice a day from exchange data. Educational information only — not financial advice.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI