Max India Q2 FY26: revenue up, losses widen; going concern flag on UK arm

Going-concern doubtEmphasis of matterNet loss reportedExceptional itemRelated-party transactionsNegative operating cash flowResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹212.00

prior close

₹206.35

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.7% vs market

Holding Company peers, median of 13sector-0.3%-1.5% vs sector

On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 1.5 pts less than its Holding Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

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15d

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AI summary

Max India Q2 FY26 consolidated revenue Rs 45.16 cr, up 5.6 percent YoY; H1 revenue Rs 81.83 cr, up 18.2 percent. Loss widened to Rs 34.80 cr in Q2 (from Rs 22.73 cr); H1 loss Rs 60.34 cr versus Rs 49.70 cr. Going concern flagged at UK unit Max UK over shutdown. Emphasis of matter on CBPL joint venture Noida disputes; about Rs 176 cr paid to NOIDA under protest. Exceptional items include Rs 9.53 cr profit on office floor sale to a promoter group firm. Rights issue raised about Rs 124 cr.

Likely market impact

Revenue growing but losses widening; UK arm shutdown and CBPL legal issues raise concern. Rights issue capital raise is a positive.