Max Financial Services Limited has informed the Exchange regarding Outcome of Board Meeting held on May 13, 2025.
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Max Financial Services reported audited consolidated and standalone financial results for Q4 FY25 and full year FY25. Consolidated total income for FY25 stood at Rs. 46,497.24 crores, marginally down from Rs. 46,613.54 crores in FY24. Profit before tax rose about 8% to Rs. 450.10 crores (vs Rs. 416.10 crores), and consolidated profit after tax (continuing operations) was Rs. 406.74 crores vs Rs. 393.52 crores. Profit attributable to owners dipped to Rs. 327.21 crores (vs Rs. 340.08 crores) and EPS was Rs. 9.61 (vs Rs. 9.92). The subsidiary Axis Max Life Insurance (AMLI) raised Rs. 500 crores via subordinated NCDs at 8.34% coupon, and Axis Bank's stake in AMLI now stands at 19.02%, with Max Financial's holding at 80.98%. The subsidiary also received an income tax refund of Rs. 94.13 crores. The pension fund management subsidiary (MLPFM) is being wound up with PFRDA approval, treated as discontinued operations.
The SEBI show cause notice flag in the auditor's 'Emphasis of Matter' is a key concern for shareholders, though no financial impact has been booked yet and the company maintains it has complied with regulations. Underlying business performance is steady with modest profit growth, but the Axis Bank stake increase and ongoing SEBI matter are important developments to watch.