Max Financial Services (MFSL) Stock Overview
Through its subsidiary, engages in life insurance business in India. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 4/6 |
| Past Performance | 1/6 |
| Financial Health | 2/6 |
| Dividends | 0/6 |
MFSL Community Fair Values
Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Max Financial Services Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹1,725.60 |
| 52 Week High | ₹1,892.50 |
| 52 Week Low | ₹1,433.60 |
| Beta | 0.64 |
| 1 Month Change | 8.71% |
| 3 Month Change | -6.96% |
| 1 Year Change | 16.27% |
| 3 Year Change | 146.97% |
| 5 Year Change | 84.27% |
| Change since IPO | 3,553.61% |
Recent News & Updates
Analysis Article • May 15
Max Financial Services Limited Just Missed Earnings - But Analysts Have Updated Their Models
As you might know, Max Financial Services Limited ( NSE:MFSL ) last week released its latest yearly, and things did not...
Narrative Update • May 13
MFSL: Planned Capital Raise For Subsidiary Will Support 2026 Outlook
Analysts have trimmed their price target for Max Financial Services slightly from ₹2,055.48 to ₹2,050.56, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News A board meeting is scheduled for March 12, 2026, to consider, evaluate, and approve raising further capital to meet the funding requirements of material subsidiary Axis Max Life Insurance Limited, including the potential issuance of equity shares and other eligible securities through various modes (Key Developments).Narrative Update • Apr 25
MFSL: Planned Amalgamation Will Support 2026 Outlook
Analysts have kept their price target for Max Financial Services steady at about ₹2,055, citing largely unchanged fair value assumptions along with only small adjustments to revenue growth, profit margin and future P/E expectations. What's in the News Board meeting on Jan 28, 2026, to discuss and provide in principle approval for a potential amalgamation between Max Financial Services and its subsidiary Axis Max Life Insurance Limited (AMLI) (company event filing).Narrative Update • Apr 09
MFSL: Planned Amalgamation And Capital Plans Will Support 2026 Outlook
Analysts have adjusted the fair value estimate for Max Financial Services slightly lower from ₹2,096.20 to ₹2,055.48, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News Board meeting scheduled for Jan 28, 2026, to discuss and provide in principle approval for a potential amalgamation between Max Financial Services and its subsidiary Axis Max Life Insurance Limited, AMLI (Key Developments).Recent updates
Analysis Article • May 15
Max Financial Services Limited Just Missed Earnings - But Analysts Have Updated Their Models
As you might know, Max Financial Services Limited ( NSE:MFSL ) last week released its latest yearly, and things did not...Narrative Update • May 13
MFSL: Planned Capital Raise For Subsidiary Will Support 2026 Outlook
Analysts have trimmed their price target for Max Financial Services slightly from ₹2,055.48 to ₹2,050.56, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News A board meeting is scheduled for March 12, 2026, to consider, evaluate, and approve raising further capital to meet the funding requirements of material subsidiary Axis Max Life Insurance Limited, including the potential issuance of equity shares and other eligible securities through various modes (Key Developments).Narrative Update • Apr 25
MFSL: Planned Amalgamation Will Support 2026 Outlook
Analysts have kept their price target for Max Financial Services steady at about ₹2,055, citing largely unchanged fair value assumptions along with only small adjustments to revenue growth, profit margin and future P/E expectations. What's in the News Board meeting on Jan 28, 2026, to discuss and provide in principle approval for a potential amalgamation between Max Financial Services and its subsidiary Axis Max Life Insurance Limited (AMLI) (company event filing).Narrative Update • Apr 09
MFSL: Planned Amalgamation And Capital Plans Will Support 2026 Outlook
Analysts have adjusted the fair value estimate for Max Financial Services slightly lower from ₹2,096.20 to ₹2,055.48, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News Board meeting scheduled for Jan 28, 2026, to discuss and provide in principle approval for a potential amalgamation between Max Financial Services and its subsidiary Axis Max Life Insurance Limited, AMLI (Key Developments).Narrative Update • Mar 26
MFSL: Planned Amalgamation Will Support 2026 Outlook Confidence
Analysts have maintained their price target on Max Financial Services at ₹2,096, highlighting unchanged assumptions around fair value, discount rate, revenue growth, profit margin and future P/E in their latest review. What's in the News Board meeting on Mar 12, 2026 to evaluate raising further capital to fund material subsidiary Axis Max Life Insurance Limited, including a potential issue of equity shares and other equity linked or convertible securities (company filing) Special shareholders meeting via postal ballot on Mar 21, 2026 to consider appointing Bharat Anand as an independent director and address other agenda items (company filing) Board meeting on Jan 28, 2026 to discuss and provide in principle approval for a potential amalgamation between Max Financial Services and subsidiary Axis Max Life Insurance Limited (company filing) Board meeting on Feb 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ending Dec 31, 2025, along with the limited review report from statutory auditors (company filing) Valuation Changes Fair Value: Fair value remains unchanged at ₹2,096.20, indicating no revision to the core valuation estimate.Narrative Update • Mar 10
MFSL: Potential Amalgamation And Capital Raise Will Support 2026 Confidence
Analysts have adjusted their price target on Max Financial Services slightly higher to around ₹2,096 from about ₹2,091, citing updated assumptions on fair value, profit margins and future P/E levels. What's in the News Board meeting on Mar 12, 2026 to consider raising further capital to fund material subsidiary Axis Max Life Insurance and to evaluate issuing equity shares or other equity linked or convertible securities through permissible modes (Key Developments).Narrative Update • Feb 24
MFSL: Potential Amalgamation Will Support Confidence In 2026 Earnings
Analysts have lifted their price target for Max Financial Services from ₹1,936.84 to ₹2,091.04, citing updated assumptions on revenue growth, profit margin, and future P/E that feed into their refreshed fair value framework. What's in the News A board meeting is scheduled for Jan 28, 2026 at 15:30 IST to discuss and provide in-principle approval for a potential amalgamation between Max Financial Services and Axis Max Life Insurance Limited, a subsidiary of the company (Key Developments).Narrative Update • Feb 10
MFSL: Upcoming Merger Talks And Steady Outlook Will Support 2026 Earnings Confidence
Analysts have nudged their price target for Max Financial Services slightly higher to ₹1,936.84 from ₹1,924.42, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E expectations. What's in the News A board meeting is scheduled on January 28, 2026 at 15:30 IST to discuss and consider in-principle approval for a potential amalgamation between Max Financial Services and Axis Max Life Insurance Limited, a subsidiary of the company (Key Developments).Narrative Update • Jan 26
MFSL: Upcoming Board Decisions Will Support Confidence In 2026 Earnings
Analysts have maintained their price view on Max Financial Services with an unchanged fair value estimate of ₹1,924.42. They cite stable assumptions around growth, profitability and future P/E as the basis for keeping targets steady.Narrative Update • Jan 11
MFSL: Upcoming Board And Shareholder Decisions Will Support Future Earnings Confidence
Analysts have raised their price target for Max Financial Services from ₹1,886.52 to ₹1,924.42, citing slightly higher revenue growth assumptions and a modestly richer future P/E multiple, partly offset by a small adjustment to profit margin expectations. What's in the News Board meeting scheduled on Feb 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ending Dec 31, 2025 (company filing).Narrative Update • Dec 26
MFSL: Upcoming Governance Events Will Support Confident Future Earnings Outlook
Analysts have modestly revised their price target for Max Financial Services to ₹1,886.52, reflecting stable assumptions on growth, profitability, and valuation multiples that support a largely unchanged fair value outlook. What's in the News Board meeting scheduled for February 11, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025 (Key Developments) Extraordinary shareholders meeting on December 21, 2025, via postal ballot to consider the appointment of Mr. Pradeep Pant as Independent Director and approve his remuneration as a special resolution (Key Developments) Company reiterates its 2026 earnings guidance, maintaining previously communicated sales and margin targets (Key Developments) Valuation Changes The fair value estimate is unchanged at approximately ₹1,886.5 per share, indicating no material reassessment of intrinsic value.Analysis Article • Dec 22
What Max Financial Services Limited's (NSE:MFSL) P/S Is Not Telling You
It's not a stretch to say that Max Financial Services Limited's ( NSE:MFSL ) price-to-sales (or "P/S") ratio of 1.2x...Narrative Update • Dec 12
MFSL: Upcoming Meetings And Stable Outlook Will Guide Future Performance
Analysts have modestly revised their price target on Max Financial Services higher to ₹1,886.52, reflecting unchanged assumptions on discount rate, revenue growth, profit margin, and long term valuation multiples, while reaffirming confidence in the company’s earnings trajectory. What's in the News Max Financial Services has scheduled a Special/Extraordinary Shareholders Meeting on December 21, 2025, to be conducted via postal ballot in India (company filing).Narrative Update • Nov 27
MFSL: Upcoming Meetings And Guidance Updates Will Shape Future Performance
Analysts have raised their price target for Max Financial Services from ₹1,810.04 to ₹1,886.52, citing stable revenue growth forecasts and minor adjustments to profit margin estimates. What's in the News A board meeting is scheduled for November 11, 2025, to review and approve the unaudited financial results for the quarter and half year ending September 30, 2025 (Key Developments).Narrative Update • Nov 13
MFSL: Profit Margins Will Improve While Revenue Growth Moderates Modestly
Analysts have revised their price target for Max Financial Services upward from ₹1,775.95 to ₹1,810.04. They cite modest improvements in profit margin and fair value, even though revenue growth estimates are slightly lower and the discount rate is marginally higher.Narrative Update • Sep 05
Bancassurance Partnerships And Digital Channels Will Unlock New Value
With both the Future P/E ratio and Net Profit Margin essentially unchanged, the consensus analyst price target for Max Financial Services remains steady at ₹1776. What's in the News Board meeting scheduled to consider and approve unaudited standalone and consolidated financial results for the quarter ending June 30, 2025.Analysis Article • Sep 05
Investors Holding Back On Max Financial Services Limited (NSE:MFSL)
It's not a stretch to say that Max Financial Services Limited's ( NSE:MFSL ) price-to-sales (or "P/S") ratio of 1.1x...
New Narrative • Dec 12
Axis Bank Rebranding And Product Innovations Will Drive Revenue Growth And Improve Profit Margins
Strategic partnership with Axis Bank and new product launches are boosting brand recognition and potential revenue growth.Shareholder Returns
| MFSL | IN Insurance | IN Market | |
|---|---|---|---|
| 7D | 6.7% | 3.1% | 2.0% |
| 1Y | 16.3% | -3.7% | 0.4% |
Return vs Industry: MFSL exceeded the Indian Insurance industry which returned -4.5% over the past year.
Return vs Market: MFSL exceeded the Indian Market which returned 0.1% over the past year.
Price Volatility
| MFSL volatility | |
|---|---|
| MFSL Average Weekly Movement | 4.7% |
| Insurance Industry Average Movement | 4.4% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in IN Market | 10.2% |
| 10% least volatile stocks in IN Market | 4.8% |
Stable Share Price: MFSL has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: MFSL's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1988 | 10 | Venkatraman Krishnan | www.maxfinancialservices.com |
Max Financial Services Limited, through its subsidiary, engages in life insurance business in India. The company operates through Business Investments and Others, and Life Insurance segments. It offers participating and nonparticipating and linked products covering life insurance, pension and health benefits, including riders for individual and group through individual agents, corporate agents, banks, brokers, and other channels.
Max Financial Services Limited Fundamentals Summary
| MFSL fundamental statistics | |
|---|---|
| Market cap | ₹592.65b |
| Earnings (TTM) | ₹828.50m |
| Revenue (TTM) | ₹476.96b |
715.3x
P/E Ratio1.2x
P/S RatioIs MFSL overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MFSL income statement (TTM) | |
|---|---|
| Revenue | ₹476.96b |
| Cost of Revenue | ₹418.10b |
| Gross Profit | ₹58.86b |
| Other Expenses | ₹58.04b |
| Earnings | ₹828.50m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.41 |
| Gross Margin | 12.34% |
| Net Profit Margin | 0.17% |
| Debt/Equity Ratio | 28.9% |
How did MFSL perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/26 13:16 |
| End of Day Share Price | 2026/05/26 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Max Financial Services Limited is covered by 47 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | 360 ONE Capital Market Private Limited |
| Swarnabha Mukherjee | 360 ONE Capital Market Private Limited |
| Raghav Garg | Ambit Capital |