Max Financial Services Limited

Web: maxfinancialservices.com NSE: MFSL BSE: 500271 SECTOR: Financial Services - Insurance

1736 10(1%)

Near 52W High of 1892

Volume

9L as on 26, May

Open

1,581

High

1,113

Low

1,098

1,727

VWAP

1,728

52 Week High

1,892

52 Week Low

1,158

Viand Research Rating

Quality Score

00/00

Growth Score

00/00

Valuation Score

00/00

Momentum Score

00/00

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

59,922

No. of Shares

34.5

P/E

-3590.46

P/B

6.1

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

-0.17

ROCE

Profit Growth

Listing Date

17-May-00

Promoter Holding

1.25%

FII Holding

47.88%

DII Holding

44.74%

Price Chart

Price Performance

1 Week7%

1 Month9%

3 Months7%

6 Months1%

1 Year16%

YTD3%

Moving Average

5 Day SMA1,676

10 Day SMA1,643

20 Day SMA1,643

30 Day SMA1,644

50 Day SMA1,624

61 Day SMA1,653

80 Day SMA1,673

200 Day SMA1,642

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	1,815	1,744	1,775	1,822
Resistance 2	1,775	1,739	1,751	1,779
Resistance 1	1,751	1,733	1,736	1,758
Pivot Point	1,711	1,727	1,711	1,714
Support 1	1,687	1,721	1,687	1,694
Support 2	1,647	1,715	1,672	1,650
Support 3	1,623	1,709	1,647	1,629

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	Div Yld %
1	HDFCBANK	12,11,614	787	2%	1%	22%	19%	16	0	0	0
2	ICICIBANK	9,24,275	1289	3%	3%	7%	11%	16	0	0	0
3	SBIN	8,95,185	970	2%	12%	1%	22%	12	0	0	0
4	BAJFINANCE	5,82,095	935	1%	1%	8%	2%	28	0	0	0
5	LICI	5,34,146	844	6%	6%	4%	2%	9	0	0	0
6	AXISBANK	4,05,648	1304	5%	5%	1%	9%	14	0	0	0
7	KOTAKBANK	3,87,315	389	2%	5%	81%	81%	20	0	0	0
8	BAJAJFINSV	2,89,972	1812	3%	2%	13%	11%	14	0	0	0
9	SHRIRAMFIN	2,26,801	964	3%	6%	11%	44%	19	0	0	0
10	SBILIFE	1,89,349	1888	0%	7%	7%	5%	77	0	0	0
Load More

Shareholding Pattern (%)

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021
Promoters	(0.01) 1.25%	(-0.51) 1.25%	(0.01) 1.71%	(0.01) 1.74%	(-1.61) 1.74%	(0.01) 3.34%	(-3.21) 3.34%	(0.01) 6.52%	(0.01) 6.52%	(0.01) 6.52%	(-3.61) 6.52%	(0.01) 10.14%	(-1.31) 10.14%	(-3.31) 11.45%	(0.01) 14.72%	(0.01) 14.72%	(0.01) 14.72%	(0.01) 14.72%	(0.01) 14.72%
FIIs	(2.81) 47.88%	(0.41) 45.13%	(0.11) 44.78%	(0.01) 44.71%	(-2.81) 44.75%	(1.31) 47.50%	(-0.41) 46.23%	(-1.11) 46.60%	(-3.21) 47.70%	(-0.61) 50.89%	(3.11) 51.54%	(0.81) 48.46%	(2.91) 47.70%	(-1.01) 44.80%	(22.01) 45.76%	(0.51) 23.76%	(-2.81) 23.26%	(-1.61) 26.08%	(0.01) 27.72%
DIIs	(-2.61) 44.74%	(0.11) 47.35%	(0.01) 47.26%	(0.01) 47.29%	(4.61) 47.29%	(-1.31) 42.69%	(3.31) 43.99%	(0.81) 40.74%	(3.01) 39.92%	(1.81) 36.89%	(0.81) 35.09%	(0.31) 34.34%	(-1.91) 34.06%	(4.31) 36.00%	(-21.61) 31.71%	(-0.71) 53.28%	(2.91) 54.02%	(1.81) 51.17%	(0.01) 49.37%
Public	6.11%	6.26%	6.24%	6.25%	6.21%	6.47%	6.42%	6.14%	5.84%	5.69%	6.85%	7.05%	8.09%	7.74%	7.81%	8.24%	8.00%	8.03%	8.19%
No. of Shareholders	77,069	75,636	76,239	80,467	68,062	68,531	65,804	67,021	65,260	59,682	63,966	67,708	81,463	70,914	69,805	68,088	69,014	66,724	70,706

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021	Jun 2021
Sales	10802	14259	9792	12822	12376	8923	13372	11799	14888	12356	10165	9168	9929	8896	9316.09	3272	8960	6954	9325	5942
Expenses	10808	14181	9771	12703	12356	8834	13199	11608	14945	12146	10021	9043	9865	8573	9238.12	3185	8799	6843	9270	5857
Operating Profit	-6	78	21	119	20	89	173	190	-57	209	144	125	64	322	77.97	87	161	111	55	85
OPM %	0	1	0	1	0	1	1	2	0	2	1	1	1	4	0.84	3	2	2	1	1
Other Income	5	9	7	3	18	3	2	1	10	4	25	3	5	3	6.5	4	3	1	2	1
Interest	35	36	21	20	15	10	13	9	11	14	9	9	9	9	9.47	9	9	9	6	0
Depreciation	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1.17	1	1	1	1	1
Profit before tax	-36	50	6	101	22	81	162	182	-59	198	158	118	58	315	73.83	80	153	101	50	84
Tax %	-13	11	6	14	-73	14	14	14	-15	14	-8	14	10	14	16.55	15	6	10	4	58
Net Profit	-32	45	6	86	38	70	139	156	-50	171	170	101	52	269	61.61	68	144	91	48	36
EPS in Rs	-0.76	1.06	0.12	2.02	0.91	1.62	3.26	3.69	-1.28	4.3	4.29	2.54	1.33	6.52	1.49	1.63	3.41	2.17	1.15	0.61

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Sales	47674	46469	46576	31415	31182	31275	18240	19510	16338	15247	11710	14907	11619	10554
Expenses	47462	45994	46150	30862	30769	30689	17788	19003	15807	14476	11179	14188	11167	9402
Operating Profit	212	476	426	554	413	585	452	507	531	771	531	718	452	1152
OPM %	0	1	1	2	1	2	2	3	3	5	5	5	4	11
Other Income	23	21	36	16	6	13	2	3	1	2	2	30	54	61
Interest	112	47	44	37	25	0	0	27	0	9	8	82	93	84
Depreciation	2	3	3	5	5	5	11	2	2	63	60	154	138	137
Profit before tax	121	447	415	527	389	593	442	481	530	702	465	512	274	991
Tax %	13	10	5	14	18	6	38	13	17	15	15	29	24	14
Net Profit	106	403	393	452	318	560	273	416	442	593	393	365	209	850
EPS in Rs	2.43	9.48	9.85	10.97	7.34	12.33	5.38	9.75	10.67	14.79	9.47	10.49	5.24	29.53
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	38	48	69	41

Cash Flows

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Cash from Operating Activity	11473	8352	6104	9922	8496	6892	5452	8826	7534	6526	3802	2579	2160	1887
Cash from Investing Activity	-11125	-9703	-5001	-11555	-8835	-6852	-4991	-8789	-6951	-6290	-3541	-2311	-1908	-1796
Cash from Financing Activity	567	1961	-117	-233	388	-92	-383	-174	-116	-215	-187	-388	-213	-220
Net Cash Flow	915	610	986	-1866	48	-51	78	-137	466	20	74	-119	39	-129

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Equity Capital	69	69	69	69	69	69	69	69	54	54	54	53	53	53	53	53
Reserves	5213	5235	5206	5100	3797	3450	3866	3274	2093	2005	1766	2281	1912	3249	2931	2850
Borrowings	1859	1829	1026	504	523	523	522	3	3	0	0	0	0	543	767	801
Other Liabilities	191795	189739	183698	177119	158383	127783	113291	94710	72377	65097	54022	44405	36181	31658	25366	21020
Total Liabilities	198936	196872	189999	182791	162771	131824	117747	98057	74526	67156	55842	46739	38147	35503	29117	24724
Fixed Assets	607	608	610	611	612	614	616	639	641	556	556	740	349	1200	1592	1597
CWIP	0	0	0	0	0	0	0	0	0	0	0	3	37	39	55	92
Investments	9716	10174	179841	7613	152959	123355	109794	91766	68566	63245	52683	44059	36102	32015	25134	21091
Other Assets	188613	186089	9548	174568	9201	7854	7337	5652	5320	3356	2602	1938	1660	2249	2336	1943
Total Assets	198936	196872	189999	182791	162771	131824	117747	98057	74526	67156	55842	46739	38147	35503	29117	24724

OI Chart

Price

Delivery

#	Date	1434 22% 1748	Value (Cr)	Q/T 18	Del 52	Del 87
1	27-May	1682	118	19	55	65
2	26-May	1726	154	28	60	92
3	25-May	1727	87	14	42	37
4	22-May	1680	184	22	51	94
5	21-May	1626	72	13	45	33
6	20-May	1625	82	17	62	51
7	19-May	1618	104	11	55	58
8	18-May	1602	78	12	48	37
9	15-May	1604	95	13	54	51
10	14-May	1631	136	19	47	64
11	13-May	1598	187	17	37	68
12	12-May	1654	93	12	57	53
13	11-May	1696	158	17	67	106
14	8-May	1700	108	16	59	64
15	7-May	1707	116	18	53	61
16	6-May	1653	100	14	50	50
17	5-May	1596	66	14	49	33
18	4-May	1607	86	13	57	49
19	30-Apr	1586	67	15	60	40
20	29-Apr	1610	54	11	50	27
21	28-Apr	1611	62	14	42	26
22	27-Apr	1603	89	13	63	56
23	24-Apr	1587	126	19	57	71
24	23-Apr	1595	99	15	64	63
25	22-Apr	1627	126	18	62	78
26	21-Apr	1649	108	15	52	56
27	20-Apr	1689	181	22	66	119
28	17-Apr	1683	145	18	63	91
29	16-Apr	1695	147	14	64	94
30	15-Apr	1700	152	16	63	96
31	13-Apr	1646	91	13	54	49
32	10-Apr	1655	173	26	66	114
33	9-Apr	1607	164	18	54	88
34	8-Apr	1587	241	15	56	136
35	7-Apr	1491	84	8	52	44
36	6-Apr	1499	119	11	52	61
37	2-Apr	1464	135	18	63	84
38	1-Apr	1477	244	16	56	137
39	30-Mar	1491	188	16	59	111
40	27-Mar	1557	129	12	59	76
41	25-Mar	1586	165	16	60	98
42	24-Mar	1584	246	16	60	148
43	23-Mar	1568	228	17	60	136
44	20-Mar	1639	170	21	68	116

Daily Market Cap

Date	Total Market Cap	Change	Chg %
26-May	59,922c	356c	0.60
25-May	59,567c	2,229c	3.89
22-May	57,337c	1,239c	2.21
21-May	56,098c	328c	0.58
20-May	56,426c	518c	0.93
19-May	55,909c	601c	1.09
18-May	55,308c	345c	0.62
15-May	55,653c	500c	0.89
14-May	56,154c	818c	1.48
13-May	55,336c	2,157c	3.75
12-May	57,493c	873c	1.50
11-May	58,366c	649c	1.10
07-May	59,015c	2,357c	4.16
06-May	56,658c	1,698c	3.09
05-May	54,960c	538c	0.97
04-May	55,498c	846c	1.55
30-Apr	54,652c	977c	1.76
29-Apr	55,629c	62c	0.11
28-Apr	55,567c	1,039c	1.91
24-Apr	54,528c	1,301c	2.33
23-Apr	55,829c	752c	1.33
22-Apr	56,582c	500c	0.88
21-Apr	57,082c	1,129c	1.94
20-Apr	58,211c	569c	0.99
17-Apr	57,641c	904c	1.54
16-Apr	58,545c	162c	0.28
15-Apr	58,708c	0	0

Stock Checklist

Price is above from 52 week high low average: 57%

Stock is trading above all short term SMAs: YES

Stock is trading above all long term SMAs: YES

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: YES

Promoters are buying the stock: NO

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