Max India Limited

Financial Services›Financial Services›Finance›Holding Company

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Key metrics

Price as of 2026-07-17

Stock price
₹164.24
Market cap
863 Cr
P/B
2.11

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Share price

NSE closing price from historical market data.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · NSE preferred when both exchanges report the same period · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Sales41 Cr90 Cr131 Cr176 Cr26 Cr69 Cr35 Cr42 Cr37 Cr45 Cr43 Cr66 Cr
Operating expenses (approx.)48 Cr96 Cr150 Cr211 Cr49 Cr108 Cr73 Cr77 Cr52 Cr70 Cr74 Cr73 Cr
EBITDA-8 Cr-6 Cr-20 Cr-35 Cr-22 Cr-39 Cr-38 Cr-36 Cr-15 Cr-25 Cr-31 Cr-7 Cr
OPM %-18.8%-7.1%-15.2%-20.1%-84.2%-55.9%-109.1%-86.3%-41.7%-56.0%-71.2%-10.7%
Other income5 Cr11 Cr14 Cr19 Cr6 Cr10 Cr4 Cr4 Cr5 Cr5 Cr7 Cr6 Cr
Interest1 Cr2 Cr3 Cr5 Cr1 Cr3 Cr2 Cr3 Cr4 Cr4 Cr3 Cr3 Cr
Depreciation2 Cr5 Cr7 Cr10 Cr4 Cr9 Cr5 Cr5 Cr6 Cr6 Cr6 Cr7 Cr
Profit before tax-11 Cr-13 Cr-30 Cr-50 Cr-28 Cr-50 Cr-45 Cr-44 Cr-25 Cr-35 Cr-40 Cr-17 Cr
Tax %-17.3%-36.7%-20.1%-14.7%-0.4%-1.6%-0.4%-1.8%-4.0%5.6%-3.6%-2.5%
Net profit-12 Cr-17 Cr-35 Cr-56 Cr-27 Cr-50 Cr-45 Cr-46 Cr-26 Cr-34 Cr-43 Cr-19 Cr
EPS (₹)₹-2.84₹-3.93₹-8.08₹-13.08₹-6.25₹-11.51₹-10.33₹-10.67₹-5.44₹-6.52₹-8.17₹-3.67

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales87 Cr230 Cr201 Cr176 Cr145 Cr191 CrSign in for TTM
Operating expenses (approx.)109 Cr229 Cr201 Cr230 Cr258 Cr269 CrSign in for TTM
EBITDA-22 Cr1 Cr0.50 Cr-54 Cr-112 Cr-78 CrSign in for TTM
OPM %-25.2%0.5%0.2%-31.0%-77.3%-41.1%Sign in for TTM
Other income7 Cr8 Cr12 Cr19 Cr19 Cr23 CrSign in for TTM
Interest8 Cr10 Cr6 Cr5 Cr8 Cr14 CrSign in for TTM
Depreciation20 Cr9 Cr8 Cr10 Cr19 Cr25 CrSign in for TTM
Profit before tax-50 Cr-18 Cr-2 Cr-50 Cr-139 Cr-117 CrSign in for TTM
Tax %13.1%10.5%-419.3%-14.7%-1.3%-0.8%Sign in for TTM
Net profit-44 Cr-18 Cr-10 Cr-56 Cr-140 Cr-122 CrSign in for TTM
EPS (₹)₹-8.11₹-3.35₹-2.18₹-13.08₹-32.50₹-23.85Sign in for TTM
Dividend payout %——————Sign in for TTM
Sign in for TTM

Trailing twelve months totals and margin rows

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital54 Cr54 Cr43 Cr43 Cr44 Cr53 Cr
Reserves599 Cr583 Cr499 Cr449 Cr315 Cr356 Cr
Borrowings——22 Cr1 Cr0.49 Cr0.66 Cr
Other liabilities344 Cr217 Cr189 Cr191 Cr274 Cr260 Cr
Total liabilities998 Cr854 Cr753 Cr684 Cr633 Cr669 Cr
Fixed assets (net)——71 Cr72 Cr56 Cr97 Cr
CWIP——0.0000 Cr10 Cr21 Cr2 Cr
Investments——83 Cr63 Cr53 Cr34 Cr
Other assets——462 Cr343 Cr261 Cr557 Cr
Total assets998 Cr854 Cr753 Cr684 Cr633 Cr669 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity—67 Cr69 Cr-102 Cr-128 Cr-95 Cr
Cash from investing—32 Cr124 Cr159 Cr47 Cr-50 Cr
Cash from financing—-94 Cr-119 Cr-29 Cr-13 Cr148 Cr
Net cash flow—5 Cr75 Cr27 Cr-93 Cr4 Cr
Free cash flow (OCF − Capex)—63 Cr66 Cr-131 Cr-163 Cr-146 Cr

Ratios

Ratios as reported or derived per annual period.

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-6.4%-1.2%-1.4%-13.1%-36.5%-25.3%
ROE %-6.7%-2.8%-1.9%-11.5%-38.8%-29.8%
Debtor days——510——
Inventory days——4145170140110
Days payable——1082653——
Cash conversion cycle——3067-473140110
Debt / equity0.000.000.040.00240.00140.0016
Current ratio——2.862.471.582.35
Net debt / EBITDA—0.00-132.62———

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