MFSL
500271Disclosure Under The Extant Provisions Of The SEBI (Listing Obligations And Disclosure Requirements Regulations), 2015 ('SEBI Listing Regulations') On Receipt Of Final Order From SEBI In Relation To The Show Cause Notice Issued On October 24, 2024
As per the disclosure attached
Max Financial Services Ltd (MFSL) is a leading non-banking financial services holding company headquartered in India, primarily engaged in the life insurance sector. It is the parent company of Max Life Insurance, India's largest non-bank owned private life insurer. Through its subsidiaries and associates, MFSL focuses on providing a comprehensive range of life insurance and related financial solutions catering to individuals and groups across urban and semi-urban markets.
Disclosure Under The Extant Provisions Of The SEBI (Listing Obligations And Disclosure Requirements Regulations), 2015 ('SEBI Listing Regulations') On Receipt Of Final Order From SEBI In Relation To The Show Cause Notice Issued On October 24, 2024
As per the disclosure attached
Announcement under Regulation 30 (LODR)-Newspaper Publication
As per the disclosure attached
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
As per the disclosure attached
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
Scrutinizer Report and Voting Results of the 38th Annual General Meeting of the Company held on August 19, 2026
Shareholder Meeting / Postal Ballot-Outcome of AGM
Summary of the proceedings of the Thirty-eighth Annual General Meeting of the Company held on August 19, 2026
Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper publications of unaudited financial results for the quarter ended June 30, 2026
Submission Of Link To The Audio Recording Of Earnings Conference Call
As per the disclosure attached
Disclosure Under The Provisions Of Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI LODR')
As per the disclosure attached
Announcement under Regulation 30 (LODR)-Press Release / Media Release
As per Press Release attached
Announcement under Regulation 30 (LODR)-Investor Presentation
As per the Investor Presentation attached
Approval Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30, 2026
As per the disclosure attached
Board Meeting Outcome for Outcome Of Board Meeting - Approval Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30, 2026
Approval of unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2026
Disclosure Under The Provisions Of Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI LODR') Regarding Axis Max Life Insurance Limited ('Axis Max Life'), The Material Subsidiary Of The Company
As per the disclosure attached
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
As per the disclosure attached
Disclosure Under The Extant Provisions Of Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI LODR') Regarding Axis Max Life Insurance Limited ('Axis Max Life'), The Material Subsidiary Of The Company
As per the disclosure attached
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
As per the disclosure attached
Max Financial Services Ltd
About
Max Financial Services Ltd (MFSL) is a leading non-banking financial services holding company headquartered in India, primarily engaged in the life insurance sector. It is the parent company of Max Life Insurance, India's largest non-bank owned private life insurer. Through its subsidiaries and associates, MFSL focuses on providing a comprehensive range of life insurance and related financial solutions catering to individuals and groups across urban and semi-urban markets.
With a legacy anchored in the 2016 demerger from Max India, Max Financial Services has built a robust pan-India footprint through strategic partnerships and bancassurance alliances with leading financial institutions including Axis Bank, Yes Bank, and others. The company's operations emphasize digital transformation, customer-centric innovation, and responsible growth, aiming to drive long-term value for shareholders and policyholders.
Business Model & Strategy
Max Financial Services Ltd generates revenues primarily through its stake in Max Life Insurance, which offers a diversified portfolio including protection, savings, retirement, and group insurance products. The company earns income via premium collections, investment income, and management of policyholder funds. As a holding company, it steers strategy, compliance, and capital allocation, while leveraging synergies across its insurance and financial services ventures.
Core growth initiatives center on expanding distribution through multi-channel strategies—bancassurance, agency, digital, and corporate partnerships. Digital innovation is prioritized to improve customer experience, underwriting, and cost efficiencies. The company is strategically focused on scaling market share in underpenetrated geographies, launching need-based insurance products, and enhancing value via prudent risk and capital management.
Management Overview
10 MembersMr.Analjit Singh
Non-Executive - Non Independent Director-Chairperson related to PromoterMr.Sahil Vachani
Non-Executive - Non Independent DirectorMr.Jai Arya
Non-Executive - Independent Director-Shareholder DirectorMr.Charles Richard Vernon Stagg
Non-Executive - Independent Director-Shareholder DirectorMr.Hideaki Nomura
Non-Executive - Nominee DirectorMr.Mitsuru Yasuda
Non-Executive - Nominee DirectorMr.K Narasimha Murthy
Non-Executive - Independent Director-Shareholder DirectorMs.Malini Thadani
Non-Executive - Independent Director-Shareholder DirectorMr.Nishant Kumar Gehlawat
Chief Financial OfficerMr.Piyush Soni
Company Secretary & Compliance OfficerAwards & Recognition
4 Awards- Winner of 'Claims and Customer Service Excellence Award' at BFSI Awards 2024
- Recognized among India's Most Trusted Financial Brands 2024 by Brand Equity
- Max Life Insurance ranked in top quartile of private life insurers in persistency and claims settlement by IRDAI
- Member of FTSE4Good Emerging Index for strong ESG performance (2023-2025)
Market Information
Company Timeline
36+ Years of Excellence | 7 Major Milestones
Incorporation of Max India Limited (predecessor entity)
Max Life Insurance commences operations as joint venture with New York Life
Max Financial Services demerges from Max India, focusing on life insurance and financial services
Restructuring completed; MFSL listed as a separate entity on NSE and BSE
Axis Bank increases stake in Max Life Insurance partnership
Expansion of digital and partnership-led distribution channels
Recognized for sustained leadership in claims settlement and ESG performance
The Next Evolution
Contact Information
Registered Office
419,, Bhai Mohan Singh Nagar, Village Railmajra, Tehsil Balachaur
Tel: 01881-462000, 462001,
Fax: 01881-273607,
Email: vkrishnan@maxindia.com
Website: maxfinancialservices.com
Corporate Actions
4| Purpose | Ex Date | Record Date | BC Start | BC End |
|---|---|---|---|---|
Final Dividend ₹1.80 per share | 19 Sep 2016 Monday | - | 21 Sep 2016 Wednesday | 27 Sep 2016 Tuesday |
Spin Off | 27 Jan 2016 Wednesday | 28 Jan 2016 Thursday | - | - |
Interim Dividend ₹1.80 per share | 19 Nov 2015 Thursday | 20 Nov 2015 Friday | - | - |
Final Dividend ₹1 per share | 15 Sep 2015 Tuesday | - | 17 Sep 2015 Thursday | 23 Sep 2015 Wednesday |
₹52,630 Cr.
₹1,541
₹1,893 / 1,434
660.17
₹186.02
8.2
₹2.31
₹2.00
N/A
Manage Ratio
FINANCIALS
| Annual Results | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | - | - | - | - | 18,242 | 31,288 | 31,188 | 31,431 | 46,618 | 46,497 | 47,696 | 49,848 |
| Expenses | - | - | - | - | 17,799 | 30,695 | 30,799 | 30,904 | 46,203 | 46,047 | 47,577 | 49,692 |
| Profit | - | - | - | - | 273 | 560 | 318 | 452 | 393 | 403 | 106 | 137 |
| Tax | - | - | - | - | 170 | 33 | 70 | 75 | 22 | 43 | 15 | 20 |
| EPS | - | - | - | - | 5 | 15 | 7 | 11 | 10 | 10 | 2 | 2.78 |
| Ratios | - |
Cash Flow
Consolidated Figures in Rs. Crores
| Annual Balance Sheet | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | - | - | - | - | 74,526 | 98,132 | 1,17,749 | 1,31,824 | 1,62,773 | 1,89,999 | 1,98,936 | - |
| Equity And Liabilities | - | - | - | - | 74,526 | 98,132 | 1,17,749 | 1,31,824 | 1,62,773 | 1,89,999 | 1,98,936 | - |
Shareholding Pattern
Numbers in Percentages
| Quarterly SHP Announcement Date | Mar 2016 12 Apr '16 | Mar 2017 31 Mar '17 | Mar 2018 31 Mar '18 | Mar 2019 18 Apr '19 | Mar 2020 18 Apr '20 | Mar 2021 09 Apr '21 | Mar 2022 12 Apr '22 | Mar 2023 11 Apr '23 | Mar 2024 12 Apr '24 | Mar 2025 07 Apr '25 | Mar 2026 14 Apr '26 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Goverments | - | - | - | - | - | - | - | - | - | - | - | - |
| Promoter And Promoter Group | - | - | - | 28.33% | 28.31% | 16.99% | 14.72% | 10.15% | 6.52% | 1.74% | 1.25% | - |
| Non Institutions | - | - | - | 9.94% | 12.10% | 8.54% | 8.00% | 8.08% | 5.85% | 6.21% | 6.12% | - |
| FII | - | - | - | - | - | - | - | 47.71% | 47.71% | 44.75% | 47.88% | - |
| DII | - | - | - | - | - | - | - | 34.06% | 39.92% | 47.30% | 44.75% | - |
| Total | - | - | - | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | - |
Max Financial Services Ltd
Max Financial Services Ltd
Max Financial Services Ltd (MFSL) is a leading non-banking financial services holding company headquartered in India, primarily engaged in the life insurance sector. It is the parent company of Max Life Insurance, India's largest non-bank owned private life insurer. Through its subsidiaries and associates, MFSL focuses on providing a comprehensive range of life insurance and related financial solutions catering to individuals and groups across urban and semi-urban markets.
With a legacy anchored in the 2016 demerger from Max India, Max Financial Services has built a robust pan-India footprint through strategic partnerships and bancassurance alliances with leading financial institutions including Axis Bank, Yes Bank, and others. The company's operations emphasize digital transformation, customer-centric innovation, and responsible growth, aiming to drive long-term value for shareholders and policyholders.
Max Financial Services Ltd generates revenues primarily through its stake in Max Life Insurance, which offers a diversified portfolio including protection, savings, retirement, and group insurance products. The company earns income via premium collections, investment income, and management of policyholder funds. As a holding company, it steers strategy, compliance, and capital allocation, while leveraging synergies across its insurance and financial services ventures.
Core growth initiatives center on expanding distribution through multi-channel strategies—bancassurance, agency, digital, and corporate partnerships. Digital innovation is prioritized to improve customer experience, underwriting, and cost efficiencies. The company is strategically focused on scaling market share in underpenetrated geographies, launching need-based insurance products, and enhancing value via prudent risk and capital management.
Winner of 'Claims and Customer Service Excellence Award' at BFSI Awards 2024
Recognized among India's Most Trusted Financial Brands 2024 by Brand Equity
Max Life Insurance ranked in top quartile of private life insurers in persistency and claims settlement by IRDAI
Member of FTSE4Good Emerging Index for strong ESG performance (2023-2025)
Incorporation of Max India Limited (predecessor entity)
Max Life Insurance commences operations as joint venture with New York Life
Max Financial Services demerges from Max India, focusing on life insurance and financial services
Restructuring completed; MFSL listed as a separate entity on NSE and BSE
Axis Bank increases stake in Max Life Insurance partnership
Expansion of digital and partnership-led distribution channels
Recognized for sustained leadership in claims settlement and ESG performance
Peer Comparison
| S.No. | Company Name | CMP (₹) | Market Cap (₹ Cr) | Div Yld (%) | NP Qtr (₹ Cr) | Qtr Profit Var (%) | Sales Qtr (₹ Cr) | Qtr Sales Var (%) | ROCE (%) | ROE (%) | Book Value (₹) | EPS TTM (₹) | TTMPE Ratio (₹) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Not Found Data | |||||||||||||
Coming Soon
Heatmap View
Premium Feature| Company | CMP (₹) | MCap (₹ Cr) | EPS TTM (₹) | ||||||||||
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Financial Ratios
Premium Feature| Company Name | P/E (TTM) | EPS (₹) | D/E | NPM | GPM | ROE (%) | ROCE (%) | P/B | |||||
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Coming Soon