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Max Financial Services Limited (MFSL)

NSE · Financial Services · Insurance - Life

₹1,284.40+0.86%
Last close · 2026-11-06

Latest quarter · ended 2026-09-30

Revenue
₹11,605 cr
Revenue YoY
+18.5%
Net profit
₹80 cr
Profit YoY
+1839.8%
EPS
₹2.33
EPS estimate
₹0.00
Net margin
0.7%

EPS came in at 2.33 against a street estimate of 0.00 — a beat of 232900.0%.

Key statistics

Market cap
₹43,950 cr
P/E
237.2
Forward P/E
35.0
P/B
7.15
Book value
₹166.71
EPS (TTM)
₹5.37
52-week high
₹1,892.50
52-week low
₹1,172.60
50-day MA
₹1,389.32
200-day MA
₹1,569.65
Beta
0.74

Analyst view

with an average price target of ₹1,839.60.

From the latest earnings call · 2026-10-28

CONFIDENT Axis Max Life delivered strong H1 growth, higher VNB margins and improving profitability, while management expects better H2 growth and remains confident on regulatory cost adjustments. Q2 FY27 No geographic regions were discussed; the call focused on channels, products and customer segments. Analysts focused on VNB-margin durability, Axis Bank momentum, annuity versus non-par growth, protection economics and regulatory expense caps. Management emphasized mix improvement, operating leverage, product launches and efficiency actions. 2026-10-28…

Full summary in the app.

Shareholding

Promoters
1.25%
Institutions
92.32%

Largest named holders

HolderStake
Mitsui Sumitomo Insurance Company21.86%
HDFC Mutual Fund - HDFC Nifty Large Midc AP 250 Index Fund9.24%
Nippon Life India Trustee Ltd-a/c Nippon India Nifty 500 EQ Weight Index Fund4.97%
DSP Nifty 500 Index Fund4.30%
Smallcap World Fund, Inc3.00%

Recent filings & reports

DocumentDate
Q1 FY27 earnings call
MAX FINANCIAL SERVICES LIMITED – Q1 FY27 SUMMARY HEADLINE NUMBERS • Gross Written Premium (Axis Max Life): INR 10,610 crore, up 19% YoY • Revenue (M
2026-08-20
Investor presentation · Q1 FY27
MAX FINANCIAL SERVICES LIMITED — Q1 FY'27 INVESTOR SUMMARY HEADLINE NUMBERS • Consolidated Revenue (excluding investment income): Rs 7,289 cr, up 18
2026-08-13
Quarterly results · Q1 FY27
MAX FINANCIAL SERVICES LIMITED – Q1 FY2026-27 RESULTS SUMMARY HEADLINE NUMBERS • Total Revenue from Operations: Rs. 14,969.51 crores (Q1 FY2026-27)
2026-08-13
Annual report FY2026
MAX FINANCIAL SERVICES LIMITED – FY 2025-26 SUMMARY HEADLINE NUMBERS • Embedded Value (EV): ₹28,871 crores (Axis Max Life Insurance - AMLI) • Operat
2026-07-27
Quarterly results · Q4 FY26
MAX FINANCIAL SERVICES LIMITED – DOCUMENT SUMMARY HEADLINE NUMBERS • No specific financial numbers provided in this document • Document dated May 26,
2026-05-27
Investor presentation · Q4 FY26
MAX FINANCIAL SERVICES LIMITED – FY'26 INVESTOR SUMMARY HEADLINE NUMBERS • Total APE (excluding Group Term Life): Rs 10,502 cr (FY'25: Rs 8,770 cr)
2026-05-12
Investor presentation · Q3 FY26
MAX FINANCIAL SERVICES LIMITED – INVESTOR SUMMARY HEADLINE NUMBERS • Total APE (9M FY'26): Rs 69.08 billion vs Rs 57.31 billion (9M FY'25) – 20% gro
2026-03-18
Q3 FY26 earnings call
MAX FINANCIAL SERVICES LIMITED – Q3 & 9M FY '26 SUMMARY HEADLINE NUMBERS • Consolidated PAT (MFSL level): INR 137 crore for 9M FY '26 (lower than pr
2026-02-18

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Data updated 2026-11-07.