Live Max Financial Services Share Price Chart

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L 996

VOL 3559

Max Financial Services Performance

Days Range

Low: ₹983.30
High: ₹999.65
Previous Close ₹987.80
Open ₹996.00
Volume 6,32,853
Day’s Range ₹983.30 - ₹999.65
52W Range ₹668.30 - ₹1,092.00
Market Cap ₹34,099 Cr

Max Financial Services Fundamentals

ROCE (TTM) 8.8
P/E Ratio (TTM) 100.31
P/B Ratio 8.82
Industry P/E 19.19
Debt to Equity 0.14
ROE 8.8
EPS (TTM) 9.85
Dividend Yield 0
Book Value 112.03
Face Value 2

Max Financial Services Financials

Jun 2023Sep 2023Dec 2023Mar 2024
Expenses9,053.4610,030.912,161.2314,957.91
Profit before tax118158.24197.97-59.39
Operating Profit101.13170.32171.21-50.08
Net Profit101.13170.32171.21-50.08
EPS in Rs2.544.294.3-1.28

About Max Financial Services

History

Max Financial Services Ltd, incorporated in February 1988, is part of the Max Group, a prominent business conglomerate in India focusing on Life Insurance. It owns and actively manages an 87% majority stake in Max Life Insurance, which is India’s largest non-bank, private life insurance company. The company was listed on the BSE on November 1st, 1989.

Max Financial Services (MFS) was formed after the demerger of Max India Limited in January 2016. The demerger resulted in 3 separate entities: Max Financial Services (life insurance), Max India (healthcare and allied businesses), and Max Ventures & Industries (manufacturing industries and new entrepreneurial ventures).

Max Financial Services continued to evolve with strategic partnerships and investments. In July 2017, the proposed merger with HDFC Standard Life Insurance Company Ltd. (HDFC Life) was called off. The company entered into partnerships, such as the one with Axis Bank, in February 2020.

The company increased its equity stake in Max Life over the years. Notable investments include issuing equity shares to Mitsui Sumitomo Insurance Company Limited (MSI) in March 2020. In April 2021, Max Life entered into a long-term strategic partnership with Axis Bank, with Axis Bank acquiring a 29% equity stake in Max Life.

As of March 31, 2023, the company has notable group shareholders, including MSI, Ward Ferry, New York Life, Baron, GIC, Vanguard, Mirae Capital, and the Asset Management Companies of Nippon, HDFC, ICICI, Prudential, Kotak, Motilal Oswal, Sundaram, and DSP.

Business Segments 

Max Financial Services Ltd. is a diversified financial services company with 2 primary business segments:

  • Life Insurance: Max Life Insurance Company Limited is India’s largest non-bank-owned private life insurance company. It offers a comprehensive range of individual and group life insurance products, as well as pension plans and annuity products. Max Life has a strong distribution network and a growing presence in the online and digital spaces.
  • Business Investments: Max Financial Services also invests in other companies, primarily in the financial services sector. These investments provide the company with a diversified income stream and help expand its reach into new markets.

Subsidiaries of Max Financial Services Limited

Max Life Insurance Company Limited provides comprehensive life insurance solutions for protection and long-term savings. They reach customers through various channels, including agencies and third-party partners. Max Financial Services Limited, the company behind Max Life Insurance, is committed to social responsibility through initiatives like the Max India Foundation, focusing on empowering children with education and livelihood skills.

Moreover, Max Financial Services holds a significant stake in Max Life Insurance, a successful 70:30 joint venture with Axis Bank. This partnership has effectively served over 19 lakh customers with long-term savings and protection products.

Key Personnel

Mr. Analjit Singh, Founder and Chairman

Mr Analjit Singh is the Founder and Chairman of Max Group and has diverse interests in life insurance (Max Life), real estate (Max Estates), and senior living (Antara). Renowned for successful joint ventures with global firms, including Mitsui Sumitomo, New York Life, and Bupa, he also founded Leeu Collection, a group of boutique hotels with a significant presence in wine and viticulture. Awarded the Padma Bhushan, he served as the Honorary Consul General of the Republic of San Marino in India and as a Director on the Board of Sofina NV/SA, Belgium. Until August 2018, he was the non-executive Chairman of Vodafone India.

Management Outlook 

  • Max Financial Services Ltd anticipates India’s insurance sector to be the world’s sixth-largest by 2032, with a projected annual average surge of 14% in total premiums over the next decade. The life insurance segment is expected to exhibit significant growth, registering a substantial 9% annual growth (realistically) by 2032, positioning India as the fifth-largest life insurance market globally.
  • The pandemic has heightened awareness of the need for life insurance, increasing demand in the sector. The recent increase in the Foreign Direct Investment (FDI) limit for insurance companies is expected to attract long-term capital, global technology, processes, and international best practices.
  • Collaboration with Axis Bank as a co-promoter since FY 2022 positions Max Life strategically, combining the strengths of the third-largest private bank and the fourth-largest private life insurer in India.
  • Max Life’s 3-year business plan for FY24-26 focuses on Sustainable and Profitable Growth, Product Innovation to drive margins, Customer Centricity, Digitisation, and Human Capital. The management team has undertaken a comprehensive review to redefine growth ambitions and enhance the strategic framework for consistent and profitable growth.
  • The company is committed to ensuring the financial protection of the community by leading with agility and transitioning business processes onto digital channels. Consumer receptiveness drives digital adoption in the industry, showcasing comfort in engaging through online channels.
Parent Organisation Analjit Singh
Founded 1988
Managing Director Analjit Singh
NSE Symbol MFSL

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Max Financial Services FAQs

What is the Share price of Max Financial Services (MFSL)?

Max Financial Services (MFSL) share price as of June 14, 2024, on NSE is Rs 993.10 (NSE) and Rs 992.95 (BSE) on BSE.

Can I buy Max Financial Services (MFSL) shares?

Yes, You can buy Max Financial Services (MFSL) shares by opening a Demat account with Angel One.

How do I buy Max Financial Services (MFSL) from Angel One?

Max Financial Services (MFSL) share can be brought through the following modes:
  1. Direct investment: You can buy Max Financial Services (MFSL) shares by opening a Demat account with Angel One.
  2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Max Financial Services (MFSL) shares.

Is Max Financial Services a Debt free Company?

No, Max Financial Services is not a debt free company.

What is the main business of Max Financial Services?

The main business of Max Financial Services is to serve as the holding company of Max Life Insurance, which is India’s first listed insurance company solely focussed on life insurance services.

Who are the promoters of Max Financial Services?

Some of the promoters of Max Financial Services include Max Ventures Investment Holdings Private Limited, Neelu Analjit Singh, Tara Singh Vachani, Piya Singh, Veer Singh, and Analjit Singh.

What are the Subsidiaries that comes under Max Financial Services?

The only subsidiary that comes under Max Financial Services is Max Life Insurance Company Limited.