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NSE:MFSL

MAX FINANCIAL SERV LTD

Financial Services › Insurance·NIFTY 200NIFTY 500NIFTY INDIA FPI 150NIFTY LARGEMIDCAP 250+12
₹1,224.60
at close · 28 Oct 2026
▼ 6.70 (-0.54%)
ThemesArtificial Intelligence· mention

Latest filings

  1. Audio recording of Q2 FY27 earnings call submitted · Investor Communications
  2. H1 FY27 profit up 137%, value of new business up 21% and margins improve · Investor Communications
  3. H1 FY27 profit rises as Axis Max Life growth and margins improve · Compliance
All filings ↓
Ask Nexa about MAX FINANCIAL SERV LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Sells life insurance almost entirely through its 80.98%-owned subsidiary Axis Max Life Insurance, which generated Rs 47,671.49 crore, or 99.9% of FY26 segment revenue. The remaining 0.1% came from Business Investments at Rs 38.71 crore. The subsidiary runs the insurance business with 28,159 employees and processed 3,554 customer complaints in FY26. Costs are dominated by other operating expenses, which represent 99.5% of revenue, with employee costs at 0.1% and capex 0.5%. The board has approved an in-principle merger of the holding company with the subsidiary.

Revenue mix · reported segments
Life Insurance99.9%
Business Investments0.1%
Operating scale
Stake in Axis Max Life Insurance
80.98%FY26
Axis Max Life Assets Under Management
Rs 1.9 lakh croreFY26
Axis Max Life Embedded Value
Rs 28,871 croreFY26
Axis Max Life New Business Premium
Rs 14,503 crore (up 19%)FY26
Axis Max Life Value of New Business
Rs 2,647 crore (up 26%)FY26
Axis Max Life Solvency Ratio
194%FY26
Who pays it
Individual and group policyholders buying life insurance products through Axis Max Life
Biggest cost
Other operating expenses at 99.5% of revenue, covering insurance operating costs
Kind of business
Holding company whose sole material subsidiary is a life insurer; financial services
Where it sits
80.98% owner of Axis Max Life Insurance, its material operating subsidiary that drives virtually all revenue
Market Cap
₹42,261 Cr
P / E (TTM)
382.7×
EV / EBITDA
—
Div Yield
—
Growth
8.8%▲
Revenue 5y CAGR
PAT -28.4% · EBITDA -17.1%
Quality
—·
ROCE (FY26)
ROE 7.1% (5y median) · margin 0.5%
Leverage
—·
Debt / Equity · not read for a lender
Revenue FY21→FY26
1.5×▲
Margin −1.6 pts
₹31,274 Cr → ₹47,674 Cr
Moves on a normal day
1.09%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 12 Insurance peersBar = share of peers beaten · tick = industry median · latest reported figures
Profit growth#4/12

Scorecard

Measured from the filed financials, judged against its Insurance peers · as of FY26 — not investment advice

Strengths
Nothing stands out in the filed numbers.
Concerns
Profit shrinking over 5 years (−28% a year)
Erratic profits — up in only 2 of the last 5 years

Charts

How has the market priced it — with filings on the timeline?

MFSL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from MAX FINANCIAL SERV LTD's filed financials and exchange disclosures

What does MAX FINANCIAL SERV LTD do?

MAX FINANCIAL SERV LTD is a Insurance company listed on NSE and BSE, trading under the symbol MFSL.

Is MAX FINANCIAL SERV LTD profitable?

Yes. Over the trailing twelve months MAX FINANCIAL SERV LTD reported a net profit of ₹137 Cr on revenue of ₹49,822 Cr.

Does MAX FINANCIAL SERV LTD pay a dividend?

Not in the latest reported year — MAX FINANCIAL SERV LTD's dividend payout for FY26 was nil.

How much does the MAX FINANCIAL SERV LTD share price move in a day?

On a typical session MAX FINANCIAL SERV LTD moves 1.09% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track MAX FINANCIAL SERV LTD's announcements?

Every NSE and BSE filing by MAX FINANCIAL SERV LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.