Max India Limited
NSE: MAXINDINE0CG601016·Financial Services·www.maxindia.com ↗·Mcap ₹843 Cr·Listed 2020
₹148.45▼ ₹0.77  (−0.52%)
52W: ₹120 – ₹229 · Vol: 16.9K shares · Close 25 Sept
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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 FY21
₹ croreQ1 FY27Q4 FY26Q3 FY26Q2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25Q4 FY24Q3 FY24Q2 FY24Q1 FY24Q4 FY23Q3 FY23Q2 FY23Q4 FY22Q3 FY22Q2 FY22Q1 FY22Q4 FY21Q3 FY21Q2 FY21Q1 FY21
Revenue from operations59.765.643.145.236.741.534.742.826.54540.749.240.756.443.15850.141.782.855.332.732.728.825.5
Other income8.96.46.754.744.44.75.74.63.85.84.83.83.131.41.12.62.51.51.51.93.4
Total expenses10488.987.285.473.889.471.570.259.869.461.857.156.658.350.459.456.247.384.96246.846.846.842.5
EBITDA−33.8−13.2−34.5−30.3−27.9−39.8−29.6−21.2−27.9−20.2−17.3−4.5−12.51.8−32.6−2.8−1.43.5−0.5−5.7−5.7−7.2−8.5
EBITDA margin-56.6%-20.1%-80.1%-67.0%-75.9%-95.9%-85.3%-49.5%-105.6%-44.7%-42.6%-9.2%-30.7%3.1%-6.9%4.4%-5.5%-3.5%4.2%-1.0%-17.6%-17.6%-24.9%-33.3%
Finance costs2.72.83.54.13.52.821.71.51.31.4111.51.61.51.123.43.92.65.786.2
Depreciation7.47.36.15.95.85.354.63.932.42.32.42.22.82.52.32.22.22.25.72.62.82.3
Profit before tax−35.1−17.1−40.2−35.3−24.6−43.9−45−22.7−27.7−19.8−17.3−2−11.11.8−4.31.6−4.8−4.50.5−9.3−12.6−12.6−16.2−20.9
Tax0.70.41.4−210.80.20.70.11.31.32.91.95.6−3.53.4−3.90.80.50.70.30.30.9−7.6
Net profit−36.3−19.3−42.9−34.1−25.6−46.1−44.6−22.7−27−21.6−17.9−4.7−12.2−4.2−0.8−2.2−1.6−5.7−0.6−10.2−13−13−17.3−13.4
Net margin-60.7%-29.4%-99.4%-75.4%-69.9%-111.0%-128.4%-53.1%-101.9%-47.9%-44.0%-9.5%-30.0%-7.4%-1.8%-3.9%-3.1%-13.7%-0.7%-18.5%-39.7%-39.7%-60.1%-52.4%
EPS (₹)-6.91-3.67-8.17-6.52-5.44-10.67-10.33-5.27-6.25-5.00-4.15-1.09-2.84-0.62-0.24-0.46-0.29-1.05-0.11-1.90-2.41-2.41-3.21-2.49
Net profit YoY−41.5%+58.1%+3.9%−49.9%+4.9%−113.7%−149.2%−383.6%−120.9%−416.0%−2255.3%−109.8%–−167.9%+86.7%−300.0%+88.0%+56.1%+96.8%+23.6%––––

Annual results

financial years ending March · from the fourth-quarter filings
₹ croreFY26FY25FY24FY23FY22FY21
Revenue from operations19114517620123087
Other income22.818.719.112.47.66.8
Total expenses335291245215250136
EBITDA−106−119−54.50.5−1.2−21.4
EBITDA margin-55.6%-81.5%-31.0%0.2%-0.5%-24.6%
Finance costs13.88.14.66.210.37.8
Depreciation25.118.810.28.5919.9
Profit before tax−117−139−50.1−1.8−18.1−49.6
Tax0.91.87.47.4−1.9−6.5
Net profit−122−140−56.4−10.4−18−43.6
Net margin-63.9%-96.5%-32.1%-5.2%-7.8%-50.2%
EPS (₹)-23.85-32.50-13.08-2.18-3.35-8.11
Net profit YoY+13.2%−149.0%−442.1%+42.4%+58.7%–
EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore
₹ croreFY26FY25FY24FY23FY22
Operating cash flow−94.7−128−10269.466.5
Investing cash flow−49.746.815912432.3
Financing cash flow148−12.6−29−119−93.9
Capital expenditure51.335.928.83.73
Free cash flow (CFO − capex)−146−163−13165.863.5

Net profit trend

annual, ₹ crore
FY21
₹−43.6
FY22
₹−18+59%
FY23
₹−10.4+42%
FY24
₹−56.4−442%
FY25
₹−140−149%
FY26
₹−122+13%

Result filings

as filed with NSE · PDF and XBRL
PeriodBasisFiledDocuments
Q1 FY27Consolidated11 Aug 2026PDF on NSE XBRL
Q1 FY27Standalone11 Aug 2026PDF on NSE XBRL
Q4 FY26Consolidated28 May 2026PDF on NSE XBRL
Q4 FY26Standalone28 May 2026PDF on NSE XBRL
Q3 FY26Consolidated10 Feb 2026PDF on NSE XBRL
Q3 FY26Standalone10 Feb 2026PDF on NSE XBRL
Q2 FY26Consolidated13 Nov 2025 PDF XBRL
Q2 FY26Standalone13 Nov 2025 PDF XBRL
Q1 FY26Consolidated5 Aug 2025PDF on NSE XBRL
Q1 FY26Standalone5 Aug 2025PDF on NSE XBRL

Annual reports

NSE archive
Key ratios
P/E (TTM)-5.9×
P/B5Y avg 1.78×1.91×
ROEFY26, on average equity-31.8%
Net margin-63.9%
Debt / equity0.00×
Revenue CAGR (3Y)-1.8%
Profit CAGR (3Y)–
EPS (TTM)₹-25.23
Market cap₹780 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.91×
vs 8-point avg 1.78× (+7%)
0.75× low1.78× avg2.86× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹669 Cr+6%
Net worth₹408 Cr+14%
Total borrowings₹2 Cr+22%
Cash & bank balances₹27 Cr+17%
Investments₹34 Cr−36%
Inventories₹16 Cr−7%
Trade receivables₹37 Cr+67%
Trade payables₹34 Cr+10%
Change vs the same date a year earlier.
Revenue mix FY26
Assisted Care56.2%result ₹−112 Cr
Senior Living38.1%result ₹−0.9 Cr
Business Investments5.6%result ₹−11.5 Cr
Segment revenue as reported, before inter-segment eliminations.
Shareholding 23 Jul 2026
%Jul 26Jun 26Mar 26Dec 25Sept 25Jun 25May 25Mar 25Dec 24Sept 24Jun 24Mar 24
Promoter48.3349.7749.8249.8950.0550.1650.4550.4550.9450.9450.9450.94
FII6.817.067.077.087.087.137.146.636.777.419.019.54
DII5.961.661.631.581.430.980.950.810.950.820.820.82
Retail32.3634.7134.4834.4034.5334.5334.0934.9234.8234.4232.9833.01
Other public6.546.807.007.056.917.207.377.196.526.416.255.69
36,645 shareholders · NSE shareholding pattern filings.