Max India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Assisted Care: 56.8% • Senior Living: 38.4% • Business Investments: 4.7%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
CONS
- Company is loss-making at the operating / net level
- Company has a low return on capital employed of -0.1%
- Company has a low return on equity of -0.2% over last 3 years
- Company's sales have been declining over the last five years
- Operating margins have contracted to -84.0% from 28.6%
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1917.30 | 30.28 | 307163.22 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 546.65 | 22.13 | 46422.91 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.75 | 10.74 | 28650.15 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13000.05 | 13.35 | 26301.84 | 0.66 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 266.10 | 22.71 | 25602.92 | 0.08 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13002.55 | 53.35 | 14860.05 | 1.69 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11435.95 | 92.40 | 12693.48 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 124.75 | 11.48 | 11938.08 | 2.61 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 437.25 | 19.95 | 9711.49 | 2.55 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 256.95 | 161.25 | 8857.93 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2282.95 | 7.87 | 7326.12 | 1.82 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| MAXIND | 146.45 | 0.00 | 824.82 | 0.00 | -36.28 | -41.50 | 59.74 | 62.91 | -27.83 | -57.50 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 8 | 8 | 8 | 6 | 5 | 5 | 3 | 3 | 3 | 3 | 2 | 2 | |
| 7 | 6 | 7 | 8 | 6 | 5 | 5 | 6 | 4 | 6 | 5 | 5 | 5 | |
| Operating Profit | 2 | 2 | 1 | -0 | 0 | 0 | -0 | -2 | -1 | -2 | -2 | -4 | -4 |
| OPM % | 18.79% | 24.09% | 11.48% | -3.50% | 4.97% | 3.88% | -8.71% | -70.91% | -47.02% | -78.66% | -52.40% | -209.66% | -255.63% |
| 1 | 0 | 7 | -7 | 1 | 0 | 0 | -0 | 9 | 0 | -0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 2 | 1 | 7 | -9 | 1 | -1 | -1 | -3 | 6 | -3 | -3 | -4 | -4 |
| Tax % | 21.08% | 36.00% | -0.68% | 3.96% | -30.99% | -2.78% | 28.57% | -8.65% | 4.99% | 85.71% | -25.98% | 7.07% | 2.07% |
| Net Profit | 1 | 1 | 7 | -8 | 1 | -1 | -1 | -3 | 6 | -0 | -3 | -4 | -4 |
| 0.31 | 0.18 | 1.70 | -1.90 | 0.21 | -0.17 | -0.21 | -0.76 | 1.21 | -0.08 | -0.61 | -0.70 | -0.72 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 74 | 34 | 33 | 33 | 31 | 19 | 11 | 10 | |
| 78 | 26 | 24 | 24 | 27 | 21 | 20 | 21 | |
| Operating Profit | -5 | 8 | 9 | 9 | 4 | -2 | -9 | -12 |
| OPM % | -6.41% | 22.90% | 26.71% | 27.02% | 12.85% | -11.76% | -84.04% | -122.22% |
| -112 | -7 | 1 | 5 | 1 | 1 | 8 | -0 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Depreciation | 3 | 3 | 2 | 2 | 3 | 3 | 1 | 1 |
| Profit before Tax | -120 | -3 | 8 | 11 | 2 | -4 | -3 | -13 |
| Tax % | -2.57% | 429.80% | 17.47% | -7.47% | 24.88% | 6.92% | 53.63% | 16.69% |
| Net Profit | -123 | 9 | 6 | 12 | 1 | -4 | -2 | -11 |
| EPS | 0.00 | 1.61 | 1.17 | 2.55 | 0.29 | -0.95 | -0.30 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -20%
- 3 Years:
- -31%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 3%
- 1 Year:
- -33%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 0%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 54 | 54 | 54 | 43 | 43 | 44 | 53 |
| 865 | 874 | 881 | 812 | 815 | 814 | 935 | |
| 2 | 1 | 0 | 1 | 8 | 8 | 4 | |
| Trade Payables | 3 | 1 | 3 | 2 | 1 | 1 | 1 |
| 8 | 9 | 10 | 11 | 14 | 20 | 49 | |
| Total Liabilities | 932 | 939 | 947 | 868 | 881 | 886 | 1,041 |
| 94 | 98 | 30 | 31 | 35 | 7 | 6 | |
| 735 | 675 | 577 | 523 | 623 | 779 | 956 | |
| 0 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Cash & Bank | 0 | 1 | 0 | 0 | 74 | 0 | 40 |
| 103 | 165 | 340 | 313 | 149 | 99 | 40 | |
| Total Assets | 932 | 939 | 947 | 868 | 881 | 886 | 1,041 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 5 | 6 | -13 | -14 | -17 | -9 | -24 | |
| Cash from Investing | -11 | -18 | 8 | 109 | 17 | 8 | -138 |
| Cash from Financing | 2 | -0 | -0 | -92 | 0 | 1 | 166 |
| -6 | 1 | -1 | -0 | -0 | 0 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Max India Limited has informed the Exchange about Schedule of meet
2026-08-20 - Max India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 19, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-19 - Max India Limited has informed the Exchange about Transcript of Investor Call held on August 12, 2026.
2026-08-19 - Max India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 19, 2026
2026-08-12 - Max India Limited has informed the Exchange about Link of Recording
2026-08-12 - Max India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Monitoring Agency Report Q1 FY 27
2026-08-11 - Max India Limited has informed the Exchange about Investor Presentation
2026-08-11 - Max India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
News
Recent coverage and analyst commentary for MAXIND
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