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India
As of 18 Sept 2026, 03:30 pm
On August 24, 2026, SEBI issued a final order concerning a show cause notice dated October 24, 2024. This order disposed of proceedings against Max Financial Services Limited and 11 other parties without imposing any penalties or directions. Settlement applications from 13 additional present or former non-executive directors are still pending.
On September 18, 2026, Max Financial Services Limited disclosed an ESG rating of 71 out of 100 from Niche Ninety Nine Capability and Certifications (OPC) Private Limited. This rating was based on public data without company engagement. Previously, on September 10, 2026, the company received an ESG rating of 70 and a Core ESG rating of 77 from Crisil ESG Ratings & Analytics Limited, also based on public data without company engagement.
As of September 18, 2026, the daily trend for Max Financial Services Limited shows a closing price of ₹1559.0. The 20-day Exponential Moving Average (EMA) is ₹1521.24, and the 50-day EMA is ₹1542.6. The Supertrend indicator is at ₹1568.93, with a 'bearish' direction. On a weekly basis, the Supertrend is ₹1761.18, also indicating a 'bearish' direction.
As of September 18, 2026, Max Financial Services Limited's returns show a 0% return over the last day and 1% over the last 10 days. The return over the last month was -2%, and over the last 3 months was -8%. The year-to-date return was -7%, while the return since the start of trading was 41%.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | PEAK₹2.78 per share | ₹-0.77 per share | ₹1.07 per share | ₹0.12 per share | ₹2.03 per share |
| Comprehensive Income For The Period | PEAK₹153.38 crore | -₹83.12 crore | ₹31.55 crore | -₹8.38 crore | ₹95.41 crore |
| Current Tax | ₹12.86 crore | ₹10.52 crore | ₹9.21 crore | PEAK₹13.24 crore | ₹10.28 crore |
| Deferred Tax | PEAK₹6.77 crore | -₹15.39 crore | -₹3.90 crore | -₹12.85 crore | ₹4.22 crore |
| Diluted Earnings Loss Per Share From Continuing And Discontinued Operations | PEAK₹2.78 per share | ₹-0.77 per share | ₹1.07 per share | ₹0.12 per share | ₹2.03 per share |
| Expenses | PEAK₹14,838.69 crore | ₹10,843.55 crore | ₹14,217.37 crore | ₹9,792.32 crore | ₹12,723.42 crore |
The quarter moved from a loss to a profit as revenue from operations grew and expenses remained slightly below revenue. The improvement in profit was accompanied by a positive swing in other comprehensive income, lifting total comprehensive income above both the previous quarter and the year-ago level.
Exchange disclosures and regulatory announcements for Max Financial Services.
On September 18, 2026, Max Financial Services Limited disclosed that Niche Ninety Nine Capability and Certifications (OPC) Private Limited has assigned it an ESG rating of 71 on a 0-100 scale. This rating, independently prepared by Niche based on public data without engagement from the company, reflects its performance on Environmental, Social and Governance parameters.
On September 10, 2026, Max Financial Services Limited received an independent ESG Rating of 70 and a Core ESG Rating of 77 from Crisil ESG Ratings & Analytics Limited on a scale of 0-100. The company voluntarily disclosed these ratings to the BSE and NSE on September 11, 2026, noting that Crisil prepared the assessment based on public domain data without being engaged by the firm.
Max Financial Services Limited announced that its senior management will participate in a physical Jefferies India Forum group meeting on September 18, 2026, in Gurgaon. The company confirmed that no unpublished price-sensitive information is intended to be discussed during the interaction and noted that an investor presentation is available on its website. The filing, dated September 9, 2026, further stated that the meetings are subject to change due to exigencies.
On August 25, 2026, Max Financial Services Limited notified the BSE and NSE regarding the loss of 10,300 equity shares held by Mr. K. K. Ramsundar, pursuant to SEBI Listing Regulations. The company published a public notice in newspapers to invite objections within 15 days before issuing duplicate certificates. This filing serves as a routine compliance disclosure for the intimation of lost share certificates.
On August 24, 2026, SEBI issued a final order disposing of proceedings against Max Financial Services Limited and 11 other noticees regarding a show cause notice dated October 24, 2024, without imposing any penalty or directions. The order specifically covered Noticees 1 through 12, while settlement applications filed by 13 additional present or former non-executive directors remain pending with no final order yet issued.
On August 13, 2026, Max Financial Services Limited reported that Axis Bank completed an equity infusion of INR 381 crore to acquire an additional 0.98% stake in Axis Max Life Insurance, raising its total holding to 19.99% and boosting the insurer's solvency ratio to 198%. During the quarter ended June 30, 2026, Axis Max Life achieved a 17% growth in individual adjusted first-year premium and expanded its Value of New Business (VNB) margin from 20.3% to 23.2%, resulting in a 33% increase in VNB value. The company also announced plans to redeem existing sub-debt and re-raise capital, while maintaining an enabling approval for a Qualified Institutional Placement (QIP) valid until May 2027 to support future growth requirements.
Max Financial Services Limited held its 38th Annual General Meeting on August 19, 2026, via video conferencing from 10:00 AM to 10:59 AM IST. Chairman Analjit Singh chaired the meeting, which transacted five items of ordinary and special business, including the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, the reappointment of Mr. Analjit Singh as a director, and approval of remuneration for independent directors Mr. Jai Arya and Sir Richard Stagg. Remote e-voting was held from August 15 to August 18, 2026, with voting results to be announced within two working days.
Max Financial Services Limited published newspaper advertisements on August 15, 2026, regarding its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, as approved by the Board on August 13, 2026.
Recent market and company developments associated with Max Financial Services.
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Life insurers displayed impressive growth in new business premiums for August, with an overall year-on-year increase of thirty-three percent. This surge was predominantly driven by the single-premium and group business sectors, although retail-weighted premiums grew at a more moderate rate. Experts in the industry predict a return to more typical growth patterns in the following months.
Sebi said the disclosure-related charges could not be sustained because there was no material establishing violations of the specific provisions applicable at the time.
SEBI, max financial, max life, india
While things are changing, insurance is still seen as a bit of a savings and tax product. We are focusing on making protection and annuity more relevant across proprietary and partnership channels, where we are looking at growth of 15% or 16%. The discussion is around protection rather than just premium. We've started focusing very sharply on the young Indian middle clas, says Sumit Madan.
Q1 Results Today, 14th August 2026 Live Updates: Follow Q1FY27 live updates from businessline
Comprehensive Section Breakdown for Max Financial Services
Strategic Vision: Indian holding company focused on life insurance sector.
Category: Financial Services
Offers comprehensive protection and long-term savings life insurance solutions through Axis Max Life Insurance Company Limited.
Key Products & Services: Axis Max Life Insurance
• Partnership with a large private sector bank for distribution.
Max Financial Services Limited reported a net profit of ₹118.29 crore for the first quarter of FY2026-27 ended June 30, 2026, compared with a loss of ₹31.52 crore in the preceding quarter and a profit of ₹86.45 crore in the year-ago quarter. Revenue from operations rose 16.8% year on year, while expenses rose 16.6%, leaving expenses just below revenue. Total comprehensive income was ₹153.38 crore, supported by a positive swing in other comprehensive income.
Revenue from operations was ₹14,969.51 crore in the quarter, up 16.8% from ₹12,821.65 crore a year earlier and up 38.6% from ₹10,801.94 crore in the preceding quarter. Expenses were ₹14,838.69 crore, up 16.6% year on year and 36.8% sequentially.
Expenses were 99.1% of revenue from operations, compared with 99.2% in the same quarter last year and 100.4% in the previous quarter. The company’s revenue from operations exceeded expenses by ₹130.82 crore in the quarter; after adding other income of ₹7.10 crore, profit before tax was ₹137.92 crore. In the preceding quarter, revenue from operations was ₹41.61 crore below expenses.
Profit before tax improved to ₹137.92 crore from a loss of ₹38.07 crore in the previous quarter and a profit of ₹101.48 crore in the year-ago quarter. Net profit was ₹118.29 crore, compared with a loss of ₹31.52 crore in the previous quarter and a profit of ₹86.45 crore in the year-ago quarter.
Basic and diluted earnings per share were ₹2.78, compared with -₹0.77 in the previous quarter and ₹2.03 in the year-ago quarter. Other income was ₹7.10 crore in the quarter, up from ₹3.25 crore a year earlier and ₹3.54 crore in the preceding quarter.
Total comprehensive income was ₹153.38 crore, up 60.8% from ₹95.41 crore a year earlier and a turnaround from -₹83.12 crore in the preceding quarter. Other comprehensive income was ₹35.09 crore, compared with ₹8.96 crore a year earlier and -₹51.60 crore in the preceding quarter. Net profit and other comprehensive income together accounted for the ₹153.38 crore total.
Tax expense was ₹19.63 crore, compared with ₹14.50 crore in the year-ago quarter and a tax benefit of ₹4.87 crore in the preceding quarter. The tax expense was about 14% of profit before tax, similar to the year-ago quarter. Finance costs were ₹35.53 crore, up from ₹19.68 crore a year earlier and little changed from ₹35.13 crore in the previous quarter.
Core Thesis: The joint venture with Axis Bank leverages the bank's extensive reach and customer base to distribute life insurance products.
• Joint Venture with Axis Bank: Axis Bank's broad financial services reach and extensive physical and virtual network significantly contribute to the distribution capabilities of Axis Max Life Insurance. • Multi-channel Distribution: Insurance solutions are facilitated through a network that includes agency and third-party distribution partners. • Core Values: The company is guided by values of 'Sevabhav', 'Excellence', and 'Credibility'.