Business Update Positive

2026-11-03 12:56

Financial Performance & Key Metrics - MFSL consolidated PAT surged 137% YoY to ₹219 Cr in H1 FY27; revenue excluding investment income grew 16% to ₹17,484 Cr. - Gross Written Premium (GWP) grew 17% YoY to ₹18,066 Cr; AUM reached ₹2.06 lakh Cr (+11% YoY). - H1 FY27 VNB grew 21% YoY to ₹1,180 Cr with VNB margins expanding 210 bps to 25.4% (Q2 FY27 VNB margin stood at 27%). - Embedded Value reached ₹31,437 Cr (+17% YoY); Operating RoEV improved 100 bps to 17.3% and Solvency ratio remained comfortable at 197%. Growth Drivers & Product Mix - Annuity business registered 130% YoY growth in Q2 FY27, bolstered by the newly launched 'Smart RISE' product contributing ~8% of total APE. - Retail Pure Protection grew 31% YoY in Q2, while Individual New Business Sum Assured grew 18% YoY in H1 FY27. - Group Credit Life grew 41% YoY in Q2 FY27, with newer partnerships contributing over 35% of its APE. - Deployed 47 enterprise AI solution tracks delivering ₹1,000 Cr in risk avoidance and frictionless underwriting on 50% of protection policies. Management Guidance & Outlook - Management expects FY27 VNB margins to track towards the upper end of 26% (guidance range 25-26%) supported by operating leverage and product mix. - Second-half APE growth expected to accelerate relative to H1 FY27. - On proposed regulatory EoM limits and commission resets, management expressed confidence in navigating the glide path to 15% via distribution commission realignment and operational efficiencies, with ~90-95% of business insulated from adverse impact. - Channel growth at Axis Bank is targeted to rebound towards ~65% counter share supported by the 'Parivartan Plus' transformation program.

Business Update Positive

2026-11-03 12:46

Current Performance & Financial Metrics - MFSL revenue excluding investment income rose 16% YoY to ₹17,484 Cr, with consolidated PAT up 137% YoY to ₹219 Cr in H1 FY27. - H1 FY27 VNB grew 21% YoY to ₹1,180 Cr with VNB margin expanding 210 bps to 25.4% (Q2 FY27 VNB margin stood at 27.0%). - Solvency ratio remains comfortable at 197% following ₹686 Cr debt raise, with AUM at ₹2.06 lakh Cr (+11% YoY). Management Guidance & Outlook - Reaffirmed VNB margin guidance of 25%–26%, indicating higher confidence of finishing closer to 26% for FY27. - Expects accelerated APE growth and margin expansion in H2 FY27 aided by seasonal volume pickup and operating leverage. - Axis Bank counter share expected to normalize back to ~65% in H2 FY27 supported by the Parivartan Plus transformation program. Growth Drivers & Business Mix - Annuity segment expanded 130% YoY in Q2 FY27, driven by the launch of the variable annuity plan 'Smart RISE'. - Retail protection grew 31% YoY in Q2, maintaining a rank of #3 in private industry individual sum assured. - E-commerce proprietary channel registered 29% growth, while GIFT City digital onboarding for NRIs gained strong scale. Regulatory & EoM Framework - Confident in complying with proposed Expenses of Management (EoM) caps via commission realignments and 5%–7% efficiency/cost offsets. - Assesses that 90%–95% of its business profile will remain largely insulated or benefit from industry distribution consolidation.

Routine Neutral

2026-10-28 14:32

- Max Financial Services Limited informed the exchanges about the submission of the audio recording for the earnings conference call held on October 28, 2026. - The call discussed the financial performance for the quarter and half year ended September 30, 2026. - The audio recording is made available on the company website.

Business Update Neutral

2026-10-28 14:27

- Max Financial Services Limited hosted an earnings conference call with investors and analysts on October 28, 2026. - The senior management discussed the performance for the quarter and half year ended September 30, 2026. - The audio recording of the earnings call has been made available on the company website.

Business Update Positive

2026-10-27 19:29

- Max Financial Services Limited reported consolidated revenue including investment income at ₹26,582 Cr, up 17% YoY for H1 FY27. - Consolidated Profit After Tax (PAT) stood at ₹219 Cr, reflecting a growth of 137% YoY. - Axis Max Life Insurance Total APE grew 11% YoY to ₹4,638 Cr, and Value of New Business (VNB) grew 21% YoY to ₹1,180 Cr. - Gross Written Premium for Axis Max Life reached ₹18,066 Cr, up 17% YoY, backed by robust renewal premium growth of 18% to ₹11,247 Cr.

Financials Positive

2026-10-27 19:28

Max Financial Services reported consolidated revenue including investment income at ₹26,582 Cr, up 17% in H1 FY27. - MFSL revenue excluding investment income grew 16% to ₹17,484 Cr, with Consolidated Profit After Tax up 137% at ₹219 Cr in H1 FY27. - Axis Max Life Insurance H1 FY27 Total APE grew 11% YoY to ₹4,638 Cr and VNB grew 21% YoY to ₹1,180 Cr with an NBM of 25.4%. - Gross Written Premium for Axis Max Life increased 17% YoY to ₹18,066 Cr and Profit Before Tax stood at ₹234 Cr vs ₹172 Cr.

Business Update Positive

2026-10-27 19:16

- Max Financial Services reports 16% YoY growth in consolidated revenue excluding investment income for H1 FY27. - Axis Max Life Insurance reports Value of New Business (VNB) at ₹1,180 crores, up 21.1% YoY with margins expanding by 210 bps to 25.4%. - Individual Adjusted First Year Premium grew 12% YoY to ₹4,368 crores, with Gross Written Premium up 17% YoY to ₹18,066 crores. - Assets Under Management (AUM) stood at ₹2.06 lakh crores, marking an 11% YoY increase as of September 30, 2026.

Business Update Positive

2026-10-27 19:14

- Max Financial Services reported consolidated revenue excluding investment income of ₹17,484 crores, up 16% YoY for H1 FY'27. - Consolidated PAT stood at ₹219 crores in H1 FY'27, up 137% YoY. - Axis Max Life's Value of New Business (VNB) grew 21% YoY to ₹1,180 crores, with VNB margin expanding by 210 bps to 25.4%. - Individual Adjusted First Year Premium grew 12% YoY to ₹4,368 crores. - Gross Written Premium increased 17% YoY to ₹18,066 crores, and Assets Under Management reached ₹2.06 lakh crores.

Financials Neutral

2026-10-27 19:03

Q2 FY27 Consolidated Revenue ₹11,601.09Cr vs ₹9,791.59Cr (▲18% YoY) EBITDA ₹135.45Cr vs ₹21.01Cr (▲545% YoY) PAT ₹100.30Cr vs ₹5.87Cr (▲1609% YoY) EBITDA Margin 1.17% vs 0.21% (▲96bps)

Financials Positive

2026-10-27 19:02

Q2 FY27 Consolidated Revenue ₹11,601.09Cr vs ₹9,791.59Cr (▲18% YoY) EBITDA ₹135.45Cr vs ₹21.01Cr (▲545% YoY) PAT ₹100.30Cr vs ₹5.87Cr (▲1609% YoY) EBITDA Margin 1.17% vs 0.21% (▲96bps)

Financials Neutral

2026-10-27 18:55

Q2 FY27 Consolidated Revenue ₹11,601.09Cr vs ₹9,791.59Cr (▲18% YoY) EBITDA ₹135.45Cr vs ₹21.01Cr (▲545% YoY) PAT ₹100.30Cr vs ₹5.87Cr (▲1609% YoY) EBITDA Margin 1.17% vs 0.21% (▲96bps)

Financials Positive

2026-10-27 18:54

Q2 FY27 Consolidated Revenue ₹11,601.09 Cr vs ₹9,791.59 Cr (▲18.5% YoY) EBITDA ₹135.45 Cr vs ₹21.01 Cr (▲544.7% YoY) PAT ₹100.30 Cr vs ₹5.87 Cr (▲1608.7% YoY) EBITDA Margin 1.17% vs 0.21% (▲96bps)

Business Update Neutral

2026-10-19 14:35

Concall Schedule Concall Date: October 28, 2026 Concall Time: 10:00 AM IST

Business Update Neutral

2026-10-19 14:25

Concall Schedule Concall Date: October 28, 2026 Concall Time: 10:00 AM IST

Business Update Positive

2026-10-16 16:11

- Max Financial Services Limited has been assigned an ESG Rating of 71 on a scale of 0-100 by NSE Sustainability Ratings & Analytics Limited (NSE SRA). - The rating was independently prepared by NSE SRA based on public domain data without company engagement. - The company voluntarily disclosed this information to the stock exchanges on October 16, 2026.

Business Update Positive

2026-10-16 16:10

- Max Financial Services Limited has received an ESG Rating of 71 on a scale of 0-100 from NSE Sustainability Ratings & Analytics Limited (NSE SRA). - The rating was independently prepared by NSE SRA based on publicly available data and published on October 16, 2026. - The company voluntarily disclosed this information to the stock exchanges in line with good governance principles.

Business Update Positive

2026-09-28 19:42

- Axis Max Life Insurance Limited (material subsidiary of Max Financial Services) has allotted 68,600 non-convertible debentures (NCDs) aggregating to ₹686.30 crores on a private placement basis. - The debentures have a face value of ₹1,00,000 each with a tenure of 10 years and a call option after 5 years. - The proceeds will be utilized by the subsidiary as subordinated debt instruments.

Business Update Positive

2026-09-28 19:41

- Axis Max Life Insurance Limited (material subsidiary of Max Financial Services Ltd) has allotted 68,600 non-convertible debentures (NCDs) aggregating to ₹686.30 crores on a private placement basis. - The debentures carry a face value of ₹1,00,000 each with a tenure of 10 years and a call option at the end of 5 years. - The proceeds will be utilized in accordance with applicable regulations.

Governance Neutral

2026-09-25 10:35

- Board meeting scheduled on October 27, 2026, to approve Q2/H1 unaudited financial results. - Trading window will remain closed for designated persons from October 1, 2026, to October 29, 2026.

Governance Neutral

2026-09-25 10:31

- Board meeting scheduled on Tuesday, October 27, 2026, to consider and approve Q2 and H1 unaudited financial results. - Trading window will remain closed from October 1, 2026, to October 29, 2026.

Governance Neutral

2026-09-25 10:29

- Board meeting scheduled on October 27, 2026, to consider Q2/H1 FY27 financial results. - Trading window closure for designated persons is effective from October 1, 2026, until October 29, 2026.

Business Update Positive

2026-09-18 12:32

- Max Financial Services received an ESG Rating of "71" (on a scale of 0-100) from Niche Ninety Nine Capability and Certifications. - The rating reflects the company's performance on Environmental, Social, and Governance parameters. - The company voluntarily disclosed this independently prepared rating.

Business Update Positive

2026-09-18 12:30

- Max Financial Services received an ESG Rating of '71' (on a scale of 0-100) from Niche Ninety Nine Capability and Certifications (OPC) Private Limited. - Niche independently prepared the report based on public domain data. - The company is voluntarily disclosing this information to stock exchanges for wider dissemination.

Business Update Positive

2026-09-11 14:51

- Max Financial Services received an ESG Rating of '70' and Core ESG Rating of '77' from Crisil on a scale of 0-100 (100 being the highest). - The company is voluntarily disclosing these ratings, reflecting its performance on Environmental, Social, and Governance parameters.

Business Update Positive

2026-09-11 14:47

- Max Financial Services received an independent ESG Rating of '70' and Core ESG Rating of '77' from Crisil on a scale of 0-100, 100 being the highest. The company is voluntarily disclosing this.

Business Update Neutral

2026-09-09 12:54

- Investor/Analyst Meet Schedule - Date: 18th Sep 2026 - Event: Jefferies India Forum - Type: Group Meetings - Location: Gurgaon

Business Update Neutral

2026-09-09 12:51

- Investor/Analyst Meet Schedule - Date: 18th Sep 2026 - Event: Jefferies India Forum (Group Meetings) - Location: Gurgaon

Governance Positive

2026-08-25 12:16

- SEBI issued a final order on Aug 24, 2026, disposing of proceedings against Max Financial Services Limited and 11 other noticees, without penalty, regarding a Show Cause Notice from Oct 2024. - Settlement applications for 13 other non-executive/independent directors are still pending.

Governance Positive

2026-08-25 12:13

- Max Financial Services Limited received SEBI's Final Order dated August 24, 2026, regarding a Show Cause Notice. - SEBI disposed of proceedings against the company and Noticee no. 1 to 12 without issuing any direction or penalty. - Settlement applications for 13 other non-executive/independent directors are still under process.

Business Update Positive

2026-08-20 16:12

- Individual adjusted first year premium grew by 17% and APE grew by 15% in Q1 FY27. - Group Credit Life segment saw 57% growth, Protection and health business grew 44%, and Annuities business delivered 116% growth. - Value of New Business (VNB) margin expanded from 20.3% in Q1 FY26 to 23.2% in Q1 FY27, driving 33% growth in VNB. - MFSL's revenue (excluding investment income) grew 18% to INR7,289 crore, with consolidated PAT at INR180 crore. - Gross Written Premium (Axis Max Life) grew 19% to INR10,610 crore. - Embedded Value grew 15% YoY to INR 30,415 crore; Solvency ratio at a robust 198%. - AUM crossed INR 2.03 lakh crore (11% increase). - Axis Bank increased its stake in Axis Max Life by 0.98% to 19.99% with an INR381 crore equity infusion. - Management aims for VNB to grow faster than APE growth in FY27, with solvency expected to remain comfortable for at least 2-3 quarters.

Business Update Positive

2026-08-20 16:06

- Q1 FY27 individual adjusted first-year premium grew 17% YoY, outperforming the industry, with APE growing 15% YoY (online business at 27%). - VNB margin expanded from 20.3% in Q1 FY26 to 23.2% in Q1 FY27 (▲290bps YoY), leading to 33% VNB growth, primarily due to higher protection mix and favorable yield curve movement. - Annuities business delivered exceptional 116% growth, supported by new product launches. - Solvency ratio reached a robust 198% following an INR381 crore equity infusion from Axis Bank, expected to remain above the risk threshold for 2-3 quarters. - Policyholder operating expense as a percentage of GWP improved by 185 bps YoY to 16%, driven by productivity enhancement initiatives. - Management guided to deliver VNB growth that outpaces APE growth in FY27 and expects to outperform the industry. - AUM surpassed INR 2 lakh crore, an 11% increase. - Max Life achieved a 99.8% individual death claim paid ratio in FY26 and was recognized as the number one life insurer in customer experience.

Governance Positive

2026-08-20 14:22

- Max Financial Services Limited's 38th AGM on August 19, 2026, saw all resolutions passed with requisite majority. This included adopting FY26 financial statements, re-appointing Mr. Analjit Singh as Director, and approving remuneration for Independent Directors Mr. Jai Arya and Sir Richard Stagg.

Governance Neutral

2026-08-19 16:49

- The 38th Annual General Meeting (AGM) of Max Financial Services Limited was held on August 19, 2026, from 10:00 A.M. to 10:59 A.M. via Video Conferencing. - Shareholders adopted the audited standalone and consolidated financial statements for the year ended March 31, 2026. - Mr. Analjit Singh was re-appointed as a Director. - Remuneration for Independent Directors Mr. Jai Arya and Sir Richard Stagg was approved.

Business Update Neutral

2026-08-13 23:00

- An earnings conference call was held on August 13, 2026, where Senior Management discussed performance for the quarter ended June 30, 2026. - The audio recording of the conference call has been uploaded on the company's website.

Business Update Neutral

2026-08-13 22:03

- Audio recording of the earnings conference call held on August 13, 2026, discussing performance for the quarter ended June 30, 2026, has been uploaded. - The recording is accessible via the company's website at https://maxfinancialservices.com/static/uploads/financials/recording-earnings-call-q1fy27.mp3

Governance Negative

2026-08-13 19:19

CRITICAL RED FLAG DETECTED

- Max Financial Services received a notice and fine of ₹4,720 from Stock Exchanges for temporary non-compliance with SEBI Regulation 19 (NRC composition) for 2 days in Q4 FY26 due to an Independent Director's retirement. Compliance was restored by April 9, 2026, with a new appointment. The Board acknowledged the temporary, procedural deviation.

Governance Negative

2026-08-13 19:12

CRITICAL RED FLAG DETECTED

- Max Financial Services Limited notified temporary non-compliance with SEBI Regulation 19 on Nomination and Remuneration Committee (NRC) composition. - The non-compliance occurred from March 29 to April 9, 2026, due to an Independent Director's retirement and subsequent delay in appointment. - The issue was rectified by April 9, 2026, and the company paid a total fine of ₹9,440 (including GST) to the stock exchanges for the lapse.

Financials Positive

2026-08-13 18:57

- Q1 FY27 Consolidated Revenue (excluding investment income) ₹7,289Cr vs ₹6,177Cr (▲18% YoY) - Value of New Business (VNB) ₹446Cr vs ₹335Cr (▲33% YoY) - PAT ₹118Cr vs ₹86Cr (▲37% YoY) - New Business Margin 23.2% vs 20.1% (▲315bps)

Financials Positive

2026-08-13 18:56

- Q1 FY27 Consolidated Revenue (excluding investment income) ₹7,289 Cr vs ₹6,177 Cr (▲18% YoY) - Q1 FY27 Consolidated PAT ₹1,118 Cr vs ₹816 Cr (▲37% YoY)

Financials Positive

2026-08-13 18:53

- Q1 FY27 Consolidated Revenue (including investment income) ₹14,977 Cr vs ₹12,801 Cr (▲17% YoY) - Q1 FY27 Consolidated PAT ₹118 Cr (Previous year's PAT for YoY comparison not reported) - Q1 FY27 Axis Max Life Insurance's Value of New Business (VNB) ₹446 Cr vs ₹335 Cr (▲33% YoY) - Q1 FY27 Axis Max Life Insurance's New Business Margin (NBM) 23.2% vs 20.1% (▲315 bps)

Financials Positive

2026-08-13 18:51

- Q1 FY27 MFSL Consolidated Revenue (excl. investment income) ₹7,289Cr (▲18% YoY) - MFSL Consolidated PAT ₹118Cr - Axis Max Life Insurance Gross Written Premium ₹7,607Cr vs ₹6,397Cr (▲19% YoY) - Axis Max Life Insurance Profit Before Tax ₹91Cr vs ₹74Cr (▲23% YoY) - Axis Max Life Insurance New Business Margin 23.2% vs 20.1% (▲315bps) - Axis Max Life Insurance Policyholder Opex to GWP Ratio 16.0% vs 17.8% (▼185bps)

Financials Positive

2026-08-13 18:47

CRITICAL RED FLAG DETECTED

- Q1 FY27 Consolidated Revenue ₹14,969.51Cr vs ₹12,821.65Cr (▲16.75% YoY) - EBITDA ₹166.85Cr vs ₹118.59Cr (▲40.70% YoY) - PAT ₹118.29Cr vs ₹86.45Cr (▲36.83% YoY) - EBITDA Margin 1.12% vs 0.92% (▲20bps)

Financials Neutral

2026-08-13 18:42

CRITICAL RED FLAG DETECTED

- Q1 FY27 Consolidated Revenue ₹14,969.51Cr vs ₹12,821.65Cr (▲17% YoY) - EBITDA ₹166.85Cr vs ₹118.59Cr (▲41% YoY) - PAT ₹95.56Cr vs ₹69.64Cr (▲37% YoY) - EBITDA Margin 1.11% vs 0.92% (▲19bps) - The company has received a Show Cause Notice from SEBI alleging non-compliances with various regulations, the outcome of which is pending.

Financials Negative

2026-08-13 18:40

CRITICAL RED FLAG DETECTED

- Q1 FY27 Consolidated Revenue ₹14,969.51Cr vs ₹12,821.65Cr (▲16.75% YoY) - EBITDA ₹166.85Cr vs ₹118.59Cr (▲40.70% YoY) - PAT ₹118.29Cr vs ₹86.98Cr (▲36.00% YoY) - EBITDA Margin 1.11% vs 0.92% (▲19bps) - Company received a Show Cause Notice from SEBI regarding alleged non-compliances with SEBI regulations, for which no financial impact has been given in these results.

Financials Negative

2026-08-13 18:30

CRITICAL RED FLAG DETECTED

- Q1 FY27 Consolidated Revenue ₹14,969.51Cr vs ₹12,821.65Cr (▲16.8% YoY) - EBITDA ₹166.85Cr vs ₹118.59Cr (▲40.7% YoY) - PAT ₹118.29Cr vs ₹86.98Cr (▲36.0% YoY) - EBITDA Margin 1.11% vs 0.92% (▲19bps) - The company has received a Show Cause Notice from SEBI alleging non-compliances with certain provisions of the SEBI Act and other regulations, with the outcome pending.

Business Update Negative

2026-08-08 16:39

CRITICAL RED FLAG DETECTED

- Max Financial Services Limited's material subsidiary, Axis Max Life Insurance Limited, received Show Cause Notices from the GST Department. - Notices allege wrongful Input Tax Credit availment for FY 2020-21 to FY 2024-25, proposing a demand of ~INR 35.29 Cr. - The company believes it complied with laws and will file a response; states no immediate impact on operations.

Business Update Neutral

2026-08-07 16:16

- Investor/Analyst Meet Schedule - On 14th Aug 2026, senior management will participate in physical group meetings with Emkay Global in Mumbai. - On 18th Aug 2026, senior management will participate in physical group meetings with Axis Capital in Singapore. - No unpublished price-sensitive information (UPSI) is intended to be discussed during these interactions.

Routine Neutral

2026-08-04 11:47

New Filing detected. See link for details.

Routine Positive

2026-08-04 11:45

- Max Financial Services Ltd's material subsidiary, Axis Max Life Insurance Ltd, completed the full redemption of 4,960 Non-Convertible Debentures (ISIN INE511N08016) worth INR 496 Crores on July 31, 2026, by exercising a call option. - Timely interest payment of INR 37.2 Crores was also made on the same NCDs. - The outstanding amount for these NCDs is now Nil, and the NCDs' credit ratings were reaffirmed at AA+ (Stable).

Routine Neutral

2026-08-01 11:16

- Axis Max Life Insurance Limited (material subsidiary) made payment of Interest and Redemption amount to debenture holders on July 31, 2026. - The payment was due on August 2, 2026, with a record date of July 16, 2026.

Routine Neutral

2026-07-27 14:26

New Filing detected. See link for details.

Governance Neutral

2026-07-27 14:17

- Notice for the 38th Annual General Meeting (AGM) to be held on August 19, 2026, at 10:00 AM (IST) via video conference. - Annual Report for FY 2025-26 has been submitted. - Register of Members to remain closed from August 13-19, 2026. - E-voting facility available from August 15-18, 2026.

Governance Neutral

2026-07-27 14:06

- Notice for the 38th Annual General Meeting (AGM) for FY 2025-26. - AGM to be held on Wednesday, August 19, 2026, at 10:00 A.M. (IST) via Video Conference/Other Audio Visual Means. - E-voting period is from Saturday, August 15, 2026, at 09:00 hrs. (IST) to Tuesday, August 18, 2026, at 17:00 hrs. (IST). - The Annual Report and AGM notice are available on the company's website.

Business Update Neutral

2026-07-27 13:56

- Max Financial Services Limited submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026. - The report was filed with stock exchanges on July 27, 2026, as per Regulation 34(2)(f) of SEBI Listing Regulations. - The BRSR is consolidated for MFSL and its material subsidiary, Axis Max Life Insurance Limited.

Routine Neutral

2026-07-08 10:27

- Max Financial Services Limited announced that its material subsidiary, Axis Max Life Insurance, has fixed July 16, 2026, as the record date. - This is for the payment of interest and redemption amount on 4,960 non-convertible debentures (ISIN INE511N08016) due on August 2, 2026. - A total of ₹533.2 Crores (₹496 Cr redemption + ₹37.2 Cr interest) is payable at a 7.50% coupon rate.

Governance Positive

2026-07-06 14:46

- Postal Ballot results declared on July 6, 2026. - Shareholders approved Mr. V. Krishnan's tenure extension as Manager (99.66% in favour) for two years. - Mr. Toru Nakabayashi's appointment as Non-executive Director was regularized (98.46% in favour).

Business Update Positive

2026-07-01 12:39

- Axis Max Life Insurance Ltd. (a subsidiary of Max Financial Services) to exercise call option for 4,960 NCDs (ISIN: INE511N08016) aggregating to ₹496 Crores. - The debentures will be redeemed on August 2, 2026, with payment on July 31, 2026, along with accrued interest.

Financials Neutral

2026-06-25 11:09

- Board meeting on August 13, 2026, to consider and approve un-audited financial results for the quarter ended June 30, 2026. - Trading window for dealing in shares will be closed from July 1, 2026, to August 15, 2026.

Governance Neutral

2026-06-05 13:59

- Max Financial Services seeks shareholder approval via postal ballot for: - Extending Mr. V. Krishnan's Manager tenure for 2 years (Jul 1, 2026-Jun 30, 2028) with ₹2.30 Cr annual remuneration and ₹25 Lac incentive. - Regularizing Mr. Toru Nakabayashi as a Non-Executive Director. - E-voting: June 6 - July 5, 2026.

Ownership Positive

2026-06-01 19:57

- Max Financial Services Ltd's subsidiary, Axis Max Life, allotted 2.5 Cr equity shares to Axis Bank for ~₹380.6 Cr on June 1, 2026. - MFSL's stake in Axis Max Life reduced to ~80.01%, Axis Bank's increased to ~17.23%.

Financials Neutral

2026-05-27 11:29

Max Financial Services Limited responded to observations from the National Stock Exchange regarding its Q4 FY26 financial results XBRL filing. The company clarified that 'unaudited' quarterly figures were inadvertently marked 'audited' and standalone EPS for continuing operations was incorrectly mapped in the XBRL utility. The company stated these were inadvertent errors, confirmed the PDF filings were accurate, and has since rectified and resubmitted the XBRL utility.

Routine Negative

2026-05-21 11:00

CRITICAL RED FLAG DETECTED

Max Financial Services Limited submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report highlights ongoing adjudication by SEBI concerning allegations of fraudulent and manipulative transactions worth ₹3,911.95 crores benefiting Axis Bank and its group entities, and issues related to due diligence and disclosures. This matter is currently pending and not yet finalized.

Routine Neutral

2026-05-13 17:15

Max Financial Services Limited announced a change in its Corporate Identity Number (CIN) from L24223PB1988PLC008031 to L24223HR1988PLC145368. This change, effective May 12, 2026, is a result of the company's Registered Office being shifted from the state of Punjab to Haryana, as confirmed by a Certificate of Registration from the Regional Director.

Financials Positive

2026-05-13 14:43

Max Financial Services Limited (MFSL) reported consolidated revenue (excluding investment income) of ₹38,039 Cr (▲17% YoY) and consolidated PAT of ₹106 Cr for FY'26. Its subsidiary, Axis Max Life, achieved a 19% YoY growth in Individual Adjusted First Year Premium to ₹9,885 Cr and a 26% YoY increase in Value of New Business (VNB) to ₹2,647 Cr. New Business Margins expanded by 120 bps to 25.2%.

Financials Neutral

2026-05-12 20:17

Max Financial Services Limited announced the independent actuarial opinion on Embedded Value (EV) results for its subsidiary, Axis Max Life Insurance Limited, as at March 31, 2026. The EV stood at INR 28,870.5 crore, and the Value of One Year's New Business for FY26 was INR 2,647.1 crore. Willis Towers Watson Advisory LLP confirmed the calculations complied with actuarial standards.

Routine Neutral

2026-05-12 19:23

New Filing detected. See link for details.

Governance Neutral

2026-05-12 19:16

The Board of Directors of Max Financial Services Limited announced the resignation of Mr. Mitsuru Yasuda as a Non-Executive Non-Independent Director, effective May 12, 2026, due to internal personnel re-assignment at Mitsui Sumitomo Insurance Co., Ltd. Concurrently, Mr. Toru Nakabayashi was appointed as an Additional Non-Executive Non-Independent Director, also nominated by Mitsui Sumitomo, effective May 13, 2026. Additionally, the Board approved the re-appointment of Mr. V. Krishnan as Manager (KMP) for a further two years from July 1, 2026, and M/s MGC & KNAV Global Risk Advisory LLP as Internal Auditors for FY 2026-27.

Governance Neutral

2026-05-12 19:14

The Board of Directors of Max Financial Services Limited announced the resignation of Mr. Mitsuru Yasuda as a Non-Executive Non-Independent Director, effective May 12, 2026, due to internal re-assignment at Mitsui Sumitomo Insurance Co. Ltd. Mr. Toru Nakabayashi was appointed as an Additional Non-Executive Non-Independent Director, effective May 13, 2026, representing Mitsui Sumitomo. The Board also approved extending the term of Mr. V. Krishnan as Manager (KMP) for two years from July 1, 2026, subject to shareholder approval, and re-appointed M/s MGC & KNAV Global Risk Advisory LLP as Internal Auditors for FY 2026-27.

Governance Neutral

2026-05-12 19:14

Max Financial Services Limited announced the resignation of Mr. Mitsuru Yasuda as a Non-Executive Non-Independent Director, effective May 12, 2026, due to internal re-assignment at Mitsui Sumitomo. Concurrently, Mr. Toru Nakabayashi was appointed as an Additional Non-Executive Non-Independent Director, effective May 13, 2026. The company also extended the term of Mr. V. Krishnan as Manager (KMP) for two years from July 1, 2026, and re-appointed M/s MGC & KNAV Global Risk Advisory LLP as Internal Auditors for FY 2026-27.

Governance Neutral

2026-05-12 19:09

Max Financial Services Limited announced the resignation of Mr. Mitsuru Yasuda as a Non-Executive Non-Independent Director, effective May 12, 2026, due to internal re-assignment and professional commitments at Mitsui Sumitomo Insurance Co. Ltd. Mr. Toru Nakabayashi has been appointed as an Additional Non-Executive Non-Independent Director in his place, effective May 13, 2026. The company also approved the extension of Mr. V. Krishnan's term as Manager (KMP) for a further two years from July 1, 2026, and the re-appointment of M/s MGC & KNAV Global Risk Advisory LLP as Internal Auditors for FY2026-27.

Financials Negative

2026-05-12 18:45

CRITICAL RED FLAG DETECTED

Max Financial Services Limited reported consolidated financial results for the quarter ended March 31, 2026. Consolidated Revenue was ₹10,801.94Cr vs ₹12,375.76Cr (▼12.72% YoY). EBITDA was (₹5.99Cr) vs ₹19.77Cr (▼130.30% YoY), and Net Profit (PAT) was (₹31.52Cr) vs ₹38.28Cr (▼182.35% YoY), indicating a significant shift from profit to loss. The EBITDA Margin contracted from 0.16% to -0.055% (▼21.5bps).

Financials Negative

2026-05-12 18:44

CRITICAL RED FLAG DETECTED

Max Financial Services Limited reported consolidated revenue from operations for Q4 FY26 at ₹10,801.94 Cr, a decline of 12.72% YoY from ₹12,375.76 Cr in Q4 FY25. The company posted an EBITDA loss of ₹2.45 Cr in Q4 FY26, compared to an EBITDA profit of ₹40.09 Cr in Q4 FY25. Net Profit (PAT) for the quarter was a loss of ₹31.52 Cr, a significant drop from a profit of ₹38.28 Cr in Q4 FY25. The EBITDA Margin contracted from 0.32% to -0.02%.

Governance Neutral

2026-05-11 21:43

Max Financial Services Limited announced the appointment of Mr. Subrat Mohanty as Non-Executive Director and Chairman of the Board of Directors of its material subsidiary, Axis Max Life Insurance Limited. The Insurance Regulatory and Development Authority of India (IRDAI) approved the appointment on May 11, 2026, with effect from May 8, 2026, for a period of five years.

Governance Positive

2026-05-10 20:30

Max Financial Services Limited declared the results of its postal ballot on May 10, 2026. Shareholders approved all four resolutions with the requisite majority. Key approvals include increasing the authorized share capital to INR 75 Crores, raising funds via equity/other securities, modifying prior arrangements with Axis Bank for Max Life Insurance Limited, and approving a material related party transaction worth INR 389 Crores for Axis Bank's subscription of Max Life Insurance Limited equity shares.

Business Update Negative

2026-05-10 16:29

Max Financial Services Limited announced the cancellation of its Q4 FY26 earnings call for the quarter ended March 31, 2026, which was previously scheduled for May 13, 2026. The company reaffirmed its commitment to fair and transparent communication and due disclosure processes.

Governance Neutral

2026-05-07 16:35

Max Financial Services Limited announced a change in the board of its material subsidiary, Axis Max Life Insurance Limited. Mr. Mitsuru Yasuda, a Non-executive Director, resigned effective May 6, 2026. Concurrently, Mr. Toru Nakabayashi was appointed as an Additional Director (Non-executive) on the board of Axis Max Life, effective May 7, 2026. Mr. Nakabayashi, nominated by Max Financial Services Limited, has over 20 years of experience in the insurance sector.

Business Update Neutral

2026-05-04 14:01

Max Financial Services Limited (MFSL) will host an earnings conference call for investors and analysts on Wednesday, May 13, 2026, at 9:00 a.m. (IST). The call will discuss the Company's Q4 & FY26 financial results, with participation from senior management of MFSL and Axis Max Life Insurance Limited.

Governance Positive

2026-04-10 14:23

Max Financial Services Limited submitted a Notice of Postal Ballot (e-voting April 11 - May 10, 2026) to seek shareholder approval for increasing authorized share capital from ₹70 Cr to ₹75 Cr and raising funds up to ₹1,600 Cr by issuing equity/other securities.

Routine Neutral

2026-04-09 13:57

New Filing detected. See link for details.

Routine Neutral

2026-04-06 14:28

Max Financial Services Limited submitted a Confirmation Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended March 31, 2026. It confirms the timely processing of securities for dematerialization and updates to the Register of Members by Mas Services Limited.

Governance Neutral

2026-04-03 17:08

Axis Max Life Insurance Limited (a material subsidiary of Max Financial Services Limited) has appointed Mr. Sanjay Vij as an Additional Independent Director for a period of five years, effective April 6, 2026. He replaces Mr. Rajesh Khanna, who is retiring as an Independent Director on April 5, 2026. The appointment will be regularized at the upcoming AGM.

Ownership Positive

2026-04-02 23:28

Axis Max Life Insurance Limited announced on April 2, 2026, that its Board approved a preferential issuance of equity shares worth up to ₹389 crores to Axis Bank Limited. This capital infusion is intended to meet funding requirements and support future growth initiatives, increasing Axis Bank's collective stake to 19.99%.

Governance Negative

2026-03-29 17:58

CRITICAL RED FLAG DETECTED

Mr. K. Narasimha Murthy will retire as an Independent Director on March 29, 2026, upon completion of his tenure. Shareholders did not approve his re-appointment for a second term at the 37th AGM, as the resolution failed to achieve the requisite 75% majority.

Financials Neutral

2026-03-26 22:09

Max Financial Services Limited announced a Board Meeting on May 12, 2026, to consider and approve its audited financial results for the financial year ended March 31, 2026. The trading window will be closed from April 1, 2026, until May 14, 2026.

Governance Neutral

2026-03-24 14:16

Max Financial Services Limited received regulatory approval on March 24, 2026, to shift its registered office from Punjab to Haryana, following an AGM resolution on Sep 18, 2025, and an RD Order dated Feb 17, 2026. The company is now filing e-forms.

Business Update Neutral

2026-03-23 17:27

Max Financial Services' senior management will participate in investor conferences (Non Deal Roadshow) in Hong Kong on March 30 & 31, 2026. No unpublished price-sensitive information is intended to be discussed, and the investor presentation is already available on the company website.

Governance Neutral

2026-03-21 20:55

Max Financial Services Limited members approved the appointment and remuneration of Mr. Bharat Anand (DIN: 02806475) as an Independent Director via postal ballot on March 21, 2026, with requisite majority.

Business Update Positive

2026-03-18 06:55

Max Financial Services Ltd.'s Investor Presentation highlights Axis Max Life Insurance's strong market position, #1 claims paid ratio (99.70%), ~1.9 Trillion AUM, and consistent growth, including a 15% 5-Yr CAGR in individual new business and 21% AUM CAGR.

Routine Neutral

2026-03-13 17:56

Axis Max Life Insurance Limited, a material subsidiary of Max Financial Services, has changed its Corporate Identity Number (CIN) from U74899PB2000PLC045626 to U74899HR2000PLC143012, effective March 12, 2026, following a change of its registered office from Punjab to Haryana.

Business Update Positive

2026-03-12 17:26

Max Financial Services Limited's Board approved raising up to ₹2,000 Crores via Qualified Institutional Placement (QIP) or other methods to fund its subsidiary, Axis Max Life Insurance Limited's growth and general corporate purposes. The Board also approved increasing the Authorized Share Capital from ₹70 Crores to ₹75 Crores, subject to shareholder approval via postal ballot.

Business Update Positive

2026-03-12 17:25

Max Financial Services Limited Board, on March 12, 2026, approved raising up to ₹2,000 Crores via Qualified Institutional Placement (QIP) to fund its subsidiary, Axis Max Life Insurance Limited's growth and general corporate purposes. They also approved increasing authorized share capital.

Business Update Positive

2026-03-12 17:24

Board approved raising up to ₹2,000 Crores via QIP for subsidiary Axis Max Life Insurance's business growth and expansion. Also approved increasing Authorized Share Capital from ₹70 Cr to ₹75 Cr, subject to shareholder approval through a postal ballot.

Governance Positive

2026-03-07 13:37

Max Financial Services Limited to hold a Board Meeting on March 12, 2026, to consider raising further capital for its material subsidiary, Axis Max Life Insurance Limited. The trading window will be closed from March 7 to March 14, 2026.

Business Update Positive

2026-03-06 17:45

Max Financial Services Limited proposes an amalgamation with its material subsidiary, Axis Max Life Insurance Limited (AMLI), to maximize shareholder value, leading to AMLI's listing and direct shareholding for MFSL shareholders. The board accorded in-principle approval on January 28, 2026, and Axis Entities have provided their in-principle no objection, pending regulatory approvals.

Business Update Positive

2026-02-19 17:31

Max Financial Services Limited received an ESG Rating of '65' (on a scale of 0-100) from NSE Sustainability Ratings & Analytics Limited (NSE SRA) on February 19, 2026, which the company is voluntarily disclosing.

Governance Neutral

2026-02-19 12:56

Max Financial Services Limited filed a postal ballot notice seeking shareholder approval for the appointment of Mr. Bharat Anand as an Independent Director and his remuneration of up to ₹20 lakhs p.a. E-voting period is from February 20, 2026 to March 21, 2026.

Business Update Positive

2026-02-18 17:08

Transcript of the Q3 & 9M FY26 Earnings Conference Call held on February 12, 2026, discussing unaudited financial results. The company reported strong premium growth, market share expansion, and strategic progress, including FDI limit increase and Axis Max Life amalgamation approval.

Business Update Neutral

2026-02-12 15:24

Max Financial Services Limited's material subsidiary, Axis Max Life Insurance Limited, will shift its registered office from Punjab to Gurugram, Haryana, effective February 16, 2026. This administrative change was approved by the Board and regulatory authorities.

Routine Neutral

2026-02-12 12:41

New Filing detected. See link for details.

Governance Positive

2026-02-11 18:43

Max Financial Services Ltd announced the appointment of Mr. Bharat Anand as an Additional Director (Non-Executive Independent Director) for a period of 5 years, effective March 29, 2026, subject to shareholder approval. The board approved this on February 11, 2026.

MFSL

Max Financial Services Limited

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