Max India Limited

BSE: MAXIND543223ISIN INE0CG601016

Financial Services
Holding Company
BSE Financial Services

Share price

₹146.80+3.90 (+2.73%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded. Earlier history is omitted pending corporate-action verification.

52W high: ₹217.00
52W low: ₹121.00
Off 52W high: -32.35%
1M return: -2.39%
3M return: -14.25%
6M return: -10.13%
1Y return: -30.79%
20D avg volume: 2,807
50 DMA: ₹151.45
200 DMA: ₹157.01

Key ratios Consolidated

Market cap: ₹826.79 Cr
Current price: ₹146.80
52W high / low: ₹217.00 / ₹121.00
Face value: ₹10.00
P/E: -6.85
P/B: 2.09
EPS (TTM): ₹-21.43
Book value / share: ₹70.07
ROE: —
ROCE: -20.40%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-24.83 Cr
Interest cover: -7.50
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 35.2 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	86.79	59.74	65.63	43.10	45.16	36.67	41.52	34.74	42.77	26.46	45.04	40.69
	8.71	8.88	6.41	6.71	5.01	4.67	3.95	4.35	4.72	5.66	4.62	3.84
	95.50	68.62	72.04	49.81	50.17	41.34	45.47	39.09	47.49	32.12	49.66	44.53
	117.31	103.65	88.91	87.17	85.42	73.81	89.40	71.45	70.23	59.82	69.43	61.82
	29.30	13.14	11.24	10.65	13.62	15.81	17.55	13.11	8.44	4.18	5.28	3.48
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	28.10	25.43	19.30	25.27	25.14	25.05	26.39	24.00	22.74	23.44	22.23	19.53
	3.01	2.72	2.76	3.45	4.06	3.52	2.83	2.04	1.70	1.49	1.26	1.36
	7.38	7.37	7.30	6.09	5.94	5.77	5.25	5.03	4.61	3.93	2.98	2.43
	55.55	54.87	42.82	39.53	35.86	30.72	41.12	11.13	11.90	10.16	16.89	23.37
	-21.81	-35.03	-16.87	-37.36	-35.25	-32.47	-43.93	-32.36	-22.74	-27.70	-19.77	-17.29
	-0.02	-0.03	-0.20	-2.87	-0.03	7.88	0.00	-12.60	0.00	0.00	0.02	0.00
	-21.83	-35.06	-17.07	-40.23	-35.28	-24.59	-43.93	-44.96	-22.74	-27.70	-19.75	-17.29
	0.56	0.69	0.43	1.43	-1.96	0.98	0.79	0.19	0.73	0.10	1.26	1.29
	-22.25	-36.28	-19.29	-42.85	-34.07	-25.64	-46.09	-44.60	-22.73	-26.97	-21.57	-17.90
	-4.02	-6.91	-3.67	-8.17	-6.52	-5.44	-10.67	-10.33	-5.27	-6.25	-5.00	-4.15
Key metrics
	-11.44	-24.97	-7.01	-30.69	-25.28	-15.30	-35.85	-37.89	-16.43	-22.28	-15.51	-13.50
	-13.20%	-41.80%	-10.70%	-71.20%	-56.00%	-41.70%	-86.30%	-109.10%	-38.40%	-84.20%	-34.40%	-33.20%
	-25.60%	-60.70%	-29.40%	-99.40%	-75.40%	-69.90%	-111.00%	-128.40%	-53.10%	-101.90%	-47.90%	-44.00%
	-3.80%	—	-2.80%	—	-5.50%	—	-8.80%	—	—	—	—	—
	92.20%	62.90%	58.10%	24.10%	5.60%	38.60%	-7.80%	-14.60%	—	—	—	—
	34.70%	-41.50%	58.10%	3.90%	-49.90%	4.90%	-113.70%	-149.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	255.26	190.56	145.49	175.63	201.03	229.88
	30.71	22.80	18.68	19.11	12.42	7.56
	285.97	213.36	164.17	194.74	213.45	237.44
	397.04	335.31	290.90	244.87	215.21	250.39
	64.33	51.32	43.28	13.16	4.48	4.48
	0.00	0.00	0.00	—	—	—
	98.10	94.76	96.57	78.20	54.32	57.79
	11.94	13.79	8.06	4.59	6.23	10.28
	28.14	25.10	18.82	10.15	8.45	8.99
	192.77	148.93	134.73	57.73	—	49.61
	-111.07	-121.95	-126.73	-50.13	-1.76	-12.95
	-3.12	4.78	-12.60	0.02	0.00	-5.13
	-114.19	-117.17	-139.33	-50.11	-1.76	-18.08
	3.11	0.88	1.81	7.35	7.38	1.89
	-120.67	-121.85	-140.39	-56.38	-10.40	-18.04
	-22.77	-23.85	-32.50	-13.08	-2.18	-3.35
Key metrics
	-74.11	-78.28	-112.45	-35.37	12.92	1.19
	-29.03%	-41.10%	-77.30%	-20.10%	6.40%	0.50%
	-47.27%	-63.90%	-96.50%	-32.10%	-5.20%	-7.80%
	—	-20.40%	-28.10%	—	—	—
	61.46%	31.00%	-17.20%	-12.60%	-12.60%	—
	—	13.20%	-149.00%	-442.10%	42.40%	—
	—	-146.05	-163.48	—	—	—
	—	0.78	0.91	—	—	—
	—	0.00	0.00	—	—	—
	—	-24.83	-21.27	—	—	—
	—	35.2	19.7	—	—	—
Balance sheet
	—	669.25	632.85	—	—	—
	—	380.56	260.54	—	—	—
	—	26.58	22.70	—	—	—
	—	37.10	22.20	—	—	—
	—	15.52	16.64	—	—	—
	—	40.27	33.80	—	—	—
	—	96.73	55.94	—	—	—
	—	34.24	30.99	—	—	—
	—	161.71	165.25	—	—	—
	—	1.75	1.43	—	—	—
	—	0.66	0.49	—	—	—
	—	1.09	0.94	—	—	—
	—	408.30	358.69	—	—	—
Cash flow
	—	-94.72	-127.60	—	—	—
	—	-49.72	46.82	—	—	—
	—	148.32	-12.55	—	—	—
	—	51.33	35.88	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	1.28	1.51	1.76	3.13	3.14	2.85	3.30	4.59	5.41	5.83	7.72	7.58
	0.02	0.03	0.10	0.01	0.04	0.68	0.15	0.07	0.09	1.35	0.02	0.17
	1.30	1.54	1.86	3.14	3.18	3.53	3.45	4.66	5.50	7.18	7.74	7.75
	5.63	5.37	5.79	5.18	6.09	5.40	6.57	5.99	6.22	6.52	8.92	7.72
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	3.41	2.95	1.72	2.54	2.49	2.73	3.14	2.86	3.07	3.16	4.13	2.66
	0.12	0.12	0.08	0.13	0.13	0.83	0.20	0.20	0.20	0.20	0.21	0.26
	0.26	0.25	0.26	0.28	0.35	0.38	0.38	0.80	0.82	0.78	0.72	0.75
	1.84	2.05	3.73	2.23	3.12	1.46	2.85	0.77	0.72	0.72	1.79	2.31
	-4.33	-3.83	-3.93	-2.04	-2.91	-1.87	-3.12	-1.33	-0.72	0.66	-1.18	0.03
	0.23	-0.03	-0.03	-0.50	-0.03	7.88	0.00	—	—	0.05	-7.40	7.28
	-4.10	-3.86	-3.96	-2.54	-2.94	6.01	-3.12	-1.33	-0.72	0.71	-8.58	7.31
	-0.23	-0.08	-0.28	0.66	-2.52	0.30	0.27	0.38	0.02	0.22	0.34	0.05
	-3.87	-3.78	-3.68	-3.20	-0.42	5.71	-3.39	-0.95	-0.74	0.93	-8.24	7.36
	-0.70	-0.72	-0.70	-0.61	-0.08	1.21	-0.78	-0.22	-0.18	0.22	-1.90	1.70
Key metrics
	-3.72	-3.49	-3.62	-2.13	-2.46	7.22	-2.54	-0.33	0.30	1.69	-7.65	8.32
	-290.60%	-231.10%	-205.70%	-68.10%	-78.30%	253.30%	-77.00%	-7.20%	5.50%	29.00%	-99.10%	109.80%
	-302.30%	-250.30%	-209.10%	-102.20%	-13.40%	200.40%	-102.70%	-20.70%	-13.70%	16.00%	-106.70%	97.10%
	-0.40%	—	-0.40%	—	-0.30%	—	-0.30%	—	—	—	—	—
	-59.20%	-47.00%	-46.70%	-31.80%	-42.00%	-51.10%	-57.30%	-39.40%	—	—	—	—
	-821.40%	-166.20%	-8.60%	-236.80%	43.20%	514.00%	58.90%	-112.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	7.68	10.88	19.13	31.23	32.54	32.61
	0.16	0.83	1.66	1.03	0.50	1.25
	7.84	11.71	20.79	32.26	33.04	33.86
	21.97	22.46	25.30	30.50	26.23	26.23
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	10.62	9.48	12.23	12.60	10.02	9.79
	0.45	1.16	0.80	0.59	0.24	0.16
	1.05	1.28	2.78	2.68	2.24	2.17
	9.85	10.54	9.49	7.15	13.73	14.11
	-14.13	-10.75	-4.51	1.76	6.81	7.63
	-0.33	7.32	0.05	-0.12	4.50	—
	-14.46	-3.43	-4.46	1.64	11.31	7.63
	0.07	1.84	-0.31	0.41	0.85	1.33
	-14.53	-1.59	-4.15	1.23	12.16	6.30
	-2.73	-0.31	-0.96	0.29	2.56	1.17
Key metrics
	-12.96	-0.99	-0.88	4.91	13.79	9.96
	-168.75%	-9.10%	-4.60%	15.70%	42.40%	30.50%
	-189.19%	-14.60%	-21.70%	3.90%	37.40%	19.30%
	—	-0.20%	-0.40%	—	—	—
	-44.67%	-43.10%	-38.70%	-4.00%	-0.20%	—
	-1,629.47%	61.70%	-437.40%	-89.90%	93.00%	—
	—	-24.56	-10.60	—	—	—
	—	15.23	2.25	—	—	—
	—	0.00	0.00	—	—	—
	—	-3.76	-0.21	—	—	—
	—	-22.8	-0.8	—	—	—
Balance sheet
	—	1,043	885.94	—	—	—
	—	81.52	23.66	—	—	—
	—	3.76	0.21	—	—	—
	—	0.03	0.88	—	—	—
	—	0.00	0.00	—	—	—
	—	1.34	1.52	—	—	—
	—	1.87	2.55	—	—	—
	—	0.71	0.92	—	—	—
	—	3.28	10.42	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	1,033	864.80	—	—	—
Cash flow
	—	-24.21	-9.32	—	—	—
	—	-138.36	7.71	—	—	—
	—	166.12	1.62	—	—	—
	—	0.35	1.28	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -30.59%
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -44.67%
Profit YoY (TTM): -1,629.47%

Consolidated

Sales CAGR 3Y: -1.77%
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +61.46%
Profit YoY (TTM): +19.77%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 48.22%

Quarter	September 2026	June 2026
Promoter %	48.22%	48.33%

Holder	Type	Holding	Previous	Change
MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED	Promoter	39.90%	39.98%	-0.08%
SIVA FINVEST PRIVATE LIMITED	Promoter Group	6.35%	—	—
SINGULARITY EQUITY FUND I	Public	4.08%	4.08%	0.00%
HABROK INDIA MASTER LP	Public	3.17%	3.17%	0.00%
CASSINI PARTNERS, L.P. MANAGED BY HABROK CAPITAL MANAGEMENT LLP	Public	2.59%	2.59%	0.00%
ANALJIT SINGH	Promoter	1.84%	1.85%	-0.01%
P & Y CAPITAL TRUST	Public	1.08%	1.07%	+0.01%
NIVEDITA RITESH OSWAL	Public	1.00%	1.05%	-0.05%
PIYA SINGH	Promoter	0.05%	0.05%	0.00%
TARA SINGH VACHANI	Promoter	0.04%	0.04%	0.00%
NEELU ANALJIT SINGH	Promoter	0.04%	0.04%	0.00%
SAHIL VACHANI	Promoter Group	0.00%	0.00%	0.00%
ABK Consultants Private Limited	Promoter Group	0.00%	0.00%	0.00%
Max Learning Ventures Private Limited	Promoter Group	0.00%	0.00%	0.00%
Shakyasimha Ventures Private Limited	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Bajaj Finserv Limited	2,81,162	1,755.00	12.87	—	+15.67% TTM	+13.50% TTM	-15.34%
Bajaj Holdings & Investment Limited	1,16,259	10,446.15	12.32	—	-6.95% TTM	+8.58% TTM	-13.49%
Choice International Ltd	16,617	745.90	63.05	17.80%	+33.18% TTM	+39.68% TTM	-7.83%
Edelweiss Financial Services Ltd.	11,548	122.00	16.22	—	+13.96% TTM	+28.73% TTM	+9.81%
JM Financial Limited	10,905	113.95	9.82	—	-5.25% TTM	+6.26% TTM	-31.15%
Kama Holdings Limited	6,896	2,149.05	3.18	—	+12.91% TTM	+50.72% TTM	-27.24%
Rane Holdings Ltd.	2,123	1,486.95	16.64	16.20%	+25.82% TTM	-50.72% TTM	-5.06%
BF Investment Limited	1,501	398.45	3.85	—	+22.65% TTM	+398.66% TTM	-14.60%
Balmer Lawrie Investments Ltd.	1,429	64.38	5.09	—	+8.80% TTM	+3.57% TTM	-18.45%
ABANS FINANCIAL SERVICES LIMITED	1,031	201.30	7.45	11.20%	+427.79% TTM	+18.23% TTM	-0.35%
Max India Limited	827	146.80	-6.85	-20.40%	+61.46% TTM	+19.77% TTM	-30.79%
GFL LIMITED	560	51.00	9.24	—	+10.50% TTM	+205.91% TTM	-18.40%
NISUS FINANCE SERVICES CO LIMITED	437	183.15	—	26.90%	—	—	-47.59%
TAMBOLI INDUSTRIES LIMITED	303	305.30	28.51	11.10%	+14.87% TTM	+39.87% TTM	+103.33%
ALAN SCOTT ENTERPRISES LIMITED	166	291.00	-40.61	-7.60%	+4.60% TTM	-260.15% TTM	—
BIL VYAPAR LIMITED	13	4.20	-387.49	0.00%	—	-100.59% TTM	-63.06%

Filings & corporate actions

Recent announcements

Newspaper Publication4 Nov 2026 · Company Update / Newspaper Publication
Submission of Audio Recording of Earnings Conference Call3 Nov 2026 · Company Update / Analyst / Investor Meet
As per detailed disclosure enclosed.3 Nov 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
As per detailed disclosure enclosed.3 Nov 2026 · Company Update / Monitoring Agency Report
As per detailed disclosure enclosed.3 Nov 2026 · Company Update / Investor Presentation
As per detailed disclosure enclosed.3 Nov 2026 · Result / Financial Results
As per detailed disclosure enclosed.3 Nov 2026 · Board Meeting / Outcome of Board Meeting
Schedule of Earnings Conference Call29 Oct 2026 · Company Update / Analyst / Investor Meet
Max India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve To consider the un-audited financial ....29 Oct 2026 · Board Meeting / Board Meeting
Announcement under Regulation 30 (LODR)-Press Release29 Oct 2026 · Company Update / Press Release / Media Release
As per detailed disclosure enclosed.14 Oct 2026 · Company Update / General
Announcement under Regulation 30 (LODR)-Press Release13 Oct 2026 · Company Update / Press Release / Media Release
As per detailed disclosure enclosed.12 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
As per detailed disclosure enclosed.28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
As per detailed disclosure enclosed.5 Sep 2026 · Company Update / Analyst / Investor Meet
As per detailed disclosure enclosed.20 Aug 2026 · AGM/EGM / AGM
As per detailed disclosure enclosed.19 Aug 2026 · Company Update / Earnings Call Transcript
As per detailed disclosure enclosed.19 Aug 2026 · AGM/EGM / AGM
As per detailed disclosure enclosed.12 Aug 2026 · Company Update / Analyst / Investor Meet
As per detailed disclosure enclosed.12 Aug 2026 · Company Update / Newspaper Publication
Monitoring Agency Report11 Aug 2026 · Company Update / Monitoring Agency Report
Investor Release Q1 FY 2711 Aug 2026 · Company Update / Investor Presentation
Statement of Deviation & Variation11 Aug 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Financial Results Q1 FY 2711 Aug 2026 · Result / Financial Results
Outcome of Board Meeting11 Aug 2026 · Board Meeting / Outcome of Board Meeting
As per detailed disclosure enclosed.7 Aug 2026 · Company Update / Analyst / Investor Meet
Max India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve As per detailed disclosure enclosed.5 Aug 2026 · Board Meeting / Board Meeting
As per detailed disclosure enclosed.5 Aug 2026 · Company Update / Allotment of ESOP / ESPS
As per detailed disclosure enclosed.29 Jul 2026 · Company Update / Newspaper Publication
As per detailed disclosure enclosed.28 Jul 2026 · Company Update / General
As per detailed disclosure enclosed.28 Jul 2026 · Company Update / General
As per detailed disclosure enclosed.28 Jul 2026 · Others / Reg. 34 (1) Annual Report
As per detailed disclosure enclosed.28 Jul 2026 · AGM/EGM / AGM
As per detailed disclosure enclosed.24 Jul 2026 · Company Update / Newspaper Publication
As per detailed disclosure enclosed.23 Jul 2026 · Corp Action / Conversion of Securities
As per detailed disclosure enclosed.23 Jul 2026 · Company Update / Allotment of Equity Shares
As per detailed disclosure enclosed.17 Jul 2026 · Company Update / Press Release / Media Release
As per detailed disclosure enclosed.13 Jul 2026 · AGM/EGM / Postal Ballot
As per detailed disclosure enclosed.13 Jul 2026 · AGM/EGM / Postal Ballot
As per detailed disclosure enclosed.6 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Corporate actions

Purpose	Ex date	Record date	Payment date
Right Issue of Equity Shares	29 Apr 2025	29 Apr 2025	—

Board meetings

3 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results