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Max Financial Services Ltd

MFSL

NSE

₹1,281.00-1.07%19 Oct 2026

Reports

Finance Holding Company

Max Financial Services Ltd

MFSL

NSE

₹1,281.00

-1.07%

19 Oct 2026

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Finance Holding Company

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Max Financial Services is fundamentally a holding company whose entire operating business is Axis Max Life Insurance, India’s fourth-largest private life insurer - a business built to turn the long-term savings and protection needs of Indian households into a large, stable pool of assets. It began in 2000 as a joint venture with New York Life to import underwriting and agency expertise, then transformed decisively in 2021 when Axis Bank, India’s third-largest private bank, became a co-promoter, cementing a decade-old distribution partnership that now feeds more than half its new business. The recurring approach is a deliberate two-engine model: build a high-margin proprietary sales force while anchoring volume through bancassurance, and use the combined premium flow to construct a nearly two-trillion-rupee investment portfolio that generates profits for both policyholders and shareholders.

Business segments

Two engines that are really one - a life insurance factory that manufactures policies and an investment engine that powers the returns - both housed inside Axis Max Life Insurance, the sole operating business.

1. Life insurance manufacturing: where policies are designed, priced and sold

The company underwrites mortality, morbidity and longevity risk across a full shelf of savings, protection and retirement products, distributing them through a proprietary sales force and a network of bank partners led by Axis Bank.

A product for every life stage - the portfolio spans participating plans where policyholders share in insurer profits, non-participating savings with guaranteed benefits, market-linked ULIPs (unit-linked insurance plans) where the customer bears investment risk, pure term protection, health covers, and annuities that provide guaranteed retirement income. The current mix of all policies ever sold is roughly 43% endowment, 25% term, 23% ULIP, and 9% others including whole life, health and pension.
Axis Bank is the distribution backbone - the bancassurance agreement with Axis Bank, renewed in 2021 for up to 11.5 years, delivers the largest single chunk of new premiums, with Max Life consistently holding a roughly 70% counter share of life insurance sales inside Axis branches. Beyond traditional branches, the partnership now extends into the bank’s tele-calling, virtual sales and SME channels.
New partners widen the funnel - a 16-year relationship with Yes Bank and over 50 new distribution partners added in the last year across banking, broking and group segments collectively contribute a growing slice of individual premiums, while a representative office in Dubai and a newly approved GIFT City hub target the NRI segment that already brings in 12-13% of individual first-year premium.
Claims payment is the shop window - the company ranks first among private life insurers on claims paid ratio, settling 99.70% of claims in FY25, and its InstaClaim™ initiative pays nearly 55% of claims within a single day for vintage policyholders (policies in force for at least three continuous years), which feeds a Net Promoter Score of 58.

2. Investment management: the factory that turns premiums into returns

A nearly ₹1.9 trillion asset pool - the fourth-largest among private listed life insurers - is managed with a conservative debt-heavy allocation to back policyholder promises while generating shareholder surplus.

Two portfolios, two mandates - traditional (non-ULIP) assets are 86% in debt, over 95% of it in sovereign paper and AAA-rated securities, because these funds back guaranteed and participating policy benefits; linked (ULIP) assets are 66% debt and 34% equity, since investment risk sits with the policyholder. This split lets the company offer market-linked upside without putting its own balance sheet at risk.
The participating fund is the largest in the industry - policyholders in par products receive eight-ninths of the surplus generated in this segment, distributed as bonuses, while the remaining one-ninth flows to shareholders, creating a profit stream that grows with the fund’s size.
Asset-liability matching protects against rate swings - for non-par savings and group protection, cash flows of assets and liabilities are matched directly; for other books, duration matching hedges parallel shifts in the yield curve, using a deep market for long-dated government bonds plus external hedges like interest-rate futures and swaps. Over 95% of the annuity book is return-of-premium, so longevity risk - the chance policyholders outlive expectations - is negligible.
Risk models sharpen underwriting - an in-house AI-driven income estimation tool pulls alternative data from credit bureaus and account aggregators, allowing 30% of the term portfolio to be financially underwritten without physical documents, while separate proprietary models for savings and protection flag fraud and mortality risk early.

Technology and digital backbone

A cloud-native core system, pervasive AI and a mobile-first sales platform run through every part of the value chain - from onboarding to claims - and serve both proprietary and partner channels.

The first life insurer with a core system on cloud - 75% of infrastructure was on cloud by FY24, 81% of retail underwriting was automated, and 90% API coverage enables rapid partner integration, so new bancassurance tie-ups can go live faster.
Sales Navigator and mSpace arm the field force - a real-time analytics and incentive tool adopted by over 75% of sellers, plus a digital distribution platform with nearly 90% adoption across proprietary and Axis channels, give agents and bank staff pre-approved offers, next-best-product recommendations and conversational pitches generated by an AI cross-sell engine.
GenAI is cutting cost and time - a GenAI email bot handles up to 30% of customer email volume and doubled one-day ticket closures to 40%, while voice-AI transcription enables 100% automated audits and straight-through claims processing reaches 36% for non-early claims up to ₹7.5 lakhs.
Customer app builds stickiness - the mobile app has roughly 600,000 downloads, 300,000 monthly active users and a 4.8-star rating, with cumulative transactions exceeding ₹50 crore, while the e-commerce buying experience scores a Net Promoter Score of 77.

Group structure and partners

Max Financial Services is the listed holding company with an 80% stake in Axis Max Life Insurance; Axis Bank owns just under 20% and is both co-promoter and the largest distribution partner, while a proposed merger would collapse the structure into a single listed insurer.

MFSL is the listed shell - incorporated in 1988, it holds the insurance operating company and provides management advisory services to group companies, sitting inside the $5 billion Max Group alongside separately listed entities running senior care and real estate businesses.
Axis Bank became co-promoter in 2021 - after a share-swap that moved Mitsui Sumitomo’s stake from the insurance subsidiary up to the MFSL level, Axis Entities acquired 12.99% of Max Life and have since raised their holding to 19.99% through two further capital infusions totalling roughly ₹2,000 crore. Axis has the right to appoint the chairman and nominate directors to the insurer’s board.
A merger is in motion - in-principle board approval has been given to amalgamate Axis Max Life into MFSL, enabled by a 2025 amendment to the Insurance Act that permits an insurer to merge with a non-insurer subject to regulatory approval, which would simplify the group into a single listed life insurance entity.
A pension fund subsidiary extends the retirement franchise - Max Life Pension Fund Management, a wholly owned subsidiary incorporated in 2022, holds a PFRDA licence to manage National Pension System funds and had built an AUM of ₹576 crore with nearly 20,000 subscribers by FY24.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

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Quarterly Results

Profit & Loss

Balance Sheet

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Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹44,209Cr

Close Price

₹1,281.00

Industry

Finance Holding Company

Price To Earnings

400.31

Price To Sales

0.89

Revenue

₹49,822Cr

Rev Gr TTM

Revenue Growth TTM

4.91%

PAT Gr TTM

PAT Growth TTM

-58.85%

Upcoming Results on

27 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	10,165	12,356	14,888	11,799	13,372	8,923	12,376	12,822	9,792	14,259	10,802	14,970
Growth YoY Revenue Growth YoY%	9.1	38.9	49.9	28.7	31.6	-27.8	-16.9	8.7	-26.8	59.8	-12.7	16.8
Expenses ExpensesCr	10,021	12,146	14,945	11,608	13,186	8,824	12,341	12,703	9,749	14,145	10,808	14,803
Operating Profit Operating ProfitCr	144	209	-57	190	186	99	35	119	42	114	-6	167
OPM OPM%	1.4	1.7	-0.4	1.6	1.4	1.1	0.3	0.9	0.4	0.8	-0.1	1.1
Other Income Other IncomeCr	25	4	10	2	3	3	20	3	7	9	4	7
Interest Expense Interest ExpenseCr	9	14	11	9	13	10	15	20	21	36	35	36
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	0	1
PBT PBTCr	158	198	-59	182	163	81	24	101	6	50	-38	138
Tax TaxCr	-12	27	-9	26	23	11	-16	15	0	5	-5	20
PAT PATCr	170	171	-50	156	139	70	38	86	6	45	-32	118
Growth YoY PAT Growth YoY%	176.4	-36.4	-195.5	54.2	-18.2	-59.2	176.4	-44.6	-95.8	-35.9	-182.3	36.8
NPM NPM%	1.7	1.4	-0.3	1.3	1.0	0.8	0.3	0.7	0.1	0.3	-0.3	0.8
EPS EPS₹	4.3	4.3	-1.3	3.7	3.3	1.6	0.9	2.0	0.1	1.1	-0.8	2.8

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	10,165	12,356	14,888	11,799	13,372	8,923	12,376	12,822	9,792	14,259	10,802	14,970
Growth YoY Revenue Growth YoY%	9.1	38.9	49.9	28.7	31.6	-27.8	-16.9	8.7	-26.8	59.8	-12.7	16.8
Expenses ExpensesCr	10,021	12,146	14,945	11,608	13,186	8,824	12,341	12,703	9,749	14,145	10,808	14,803
Operating Profit Operating ProfitCr	144	209	-57	190	186	99	35	119	42	114	-6	167
OPM OPM%	1.4	1.7	-0.4	1.6	1.4	1.1	0.3	0.9	0.4	0.8	-0.1	1.1
Other Income Other IncomeCr	25	4	10	2	3	3	20	3	7	9	4	7
Interest Expense Interest ExpenseCr	9	14	11	9	13	10	15	20	21	36	35	36
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	0	1
PBT PBTCr	158	198	-59	182	163	81	24	101	6	50	-38	138
Tax TaxCr	-12	27	-9	26	23	11	-16	15	0	5	-5	20
PAT PATCr	170	171	-50	156	139	70	38	86	6	45	-32	118
Growth YoY PAT Growth YoY%	176.4	-36.4	-195.5	54.2	-18.2	-59.2	176.4	-44.6	-95.8	-35.9	-182.3	36.8
NPM NPM%	1.7	1.4	-0.3	1.3	1.0	0.8	0.3	0.7	0.1	0.3	-0.3	0.8
EPS EPS₹	4.3	4.3	-1.3	3.7	3.3	1.6	0.9	2.0	0.1	1.1	-0.8	2.8

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	11,696	15,228	16,337	19,510	18,240	31,274	31,181	31,413	46,576	46,469	47,674	49,822
Growth Revenue Growth%	-21.1	30.2	7.3	19.4	-6.5	71.5	-0.3	0.7	48.3	-0.2	2.6	4.9
Expenses ExpensesCr	11,179	14,476	15,807	19,003	17,788	30,690	30,769	30,862	46,151	45,997	47,462	49,505
Operating Profit Operating ProfitCr	517	752	531	506	452	584	412	551	425	472	212	317
OPM OPM%	4.4	4.9	3.3	2.6	2.5	1.9	1.3	1.8	0.9	1.0	0.4	0.6
Other Income Other IncomeCr	16	21	1	4	2	14	6	18	38	28	22	26
Interest Expense Interest ExpenseCr	8	9	0	27	0	0	25	37	44	47	112	128
Depreciation DepreciationCr	60	63	2	2	11	5	5	5	3	3	2	2
PBT PBTCr	465	702	530	481	442	593	389	527	416	450	120	156
Tax TaxCr	72	108	88	64	170	33	70	75	23	43	15	20
PAT PATCr	393	593	442	416	273	560	318	452	394	407	104	137
Growth PAT Growth%	7.8	50.9	-25.5	-5.7	-34.5	105.2	-43.1	41.9	-12.9	3.4	-74.3	-58.9
NPM NPM%	3.4	3.9	2.7	2.1	1.5	1.8	1.0	1.4	0.8	0.9	0.2	0.3
EPS EPS₹	9.5	14.8	10.7	9.8	5.4	14.5	7.3	11.0	9.9	9.5	2.5	3.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	11,696	15,228	16,337	19,510	18,240	31,274	31,181	31,413	46,576	46,469	47,674	49,822
Growth Revenue Growth%	-21.1	30.2	7.3	19.4	-6.5	71.5	-0.3	0.7	48.3	-0.2	2.6	4.9
Expenses ExpensesCr	11,179	14,476	15,807	19,003	17,788	30,690	30,769	30,862	46,151	45,997	47,462	49,505
Operating Profit Operating ProfitCr	517	752	531	506	452	584	412	551	425	472	212	317
OPM OPM%	4.4	4.9	3.3	2.6	2.5	1.9	1.3	1.8	0.9	1.0	0.4	0.6
Other Income Other IncomeCr	16	21	1	4	2	14	6	18	38	28	22	26
Interest Expense Interest ExpenseCr	8	9	0	27	0	0	25	37	44	47	112	128
Depreciation DepreciationCr	60	63	2	2	11	5	5	5	3	3	2	2
PBT PBTCr	465	702	530	481	442	593	389	527	416	450	120	156
Tax TaxCr	72	108	88	64	170	33	70	75	23	43	15	20
PAT PATCr	393	593	442	416	273	560	318	452	394	407	104	137
Growth PAT Growth%	7.8	50.9	-25.5	-5.7	-34.5	105.2	-43.1	41.9	-12.9	3.4	-74.3	-58.9
NPM NPM%	3.4	3.9	2.7	2.1	1.5	1.8	1.0	1.4	0.8	0.9	0.2	0.3
EPS EPS₹	9.5	14.8	10.7	9.8	5.4	14.5	7.3	11.0	9.9	9.5	2.5	3.2

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	53	53	54	54	54	69	69	69	69	69	69
Reserves ReservesCr	1,912	2,281	1,766	2,005	2,093	3,274	3,866	3,450	3,797	5,206	5,213
Current Liabilities Current LiabilitiesCr	4,418	5,196	53,204	64,267	71,705	94,400	1,12,738	1,27,333	1,57,875	1,82,739	1,90,657
Non Current Liabilities Non Current LiabilitiesCr	31,061	38,460	36	57	3	60	526	523	528	1,038	1,859
Total Liabilities Total LiabilitiesCr	38,147	46,739	55,842	67,156	74,526	98,066	1,17,749	1,31,824	1,62,773	1,90,180	1,98,936
Current Assets Current AssetsCr	3,926	6,368	2,623	3,356	5,310	5,652	7,337	7,850	9,201	9,729	12,286
Non Current Assets Non Current AssetsCr	34,221	40,371	53,218	63,801	69,216	92,413	1,10,412	1,23,974	1,53,573	1,80,451	1,86,650
Total Assets Total AssetsCr	38,147	46,739	55,842	67,156	74,526	98,066	1,17,749	1,31,824	1,62,773	1,90,180	1,98,936

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	53	53	54	54	54	69	69	69	69	69	69
Reserves ReservesCr	1,912	2,281	1,766	2,005	2,093	3,274	3,866	3,450	3,797	5,206	5,213
Current Liabilities Current LiabilitiesCr	4,418	5,196	53,204	64,267	71,705	94,400	1,12,738	1,27,333	1,57,875	1,82,739	1,90,657
Non Current Liabilities Non Current LiabilitiesCr	31,061	38,460	36	57	3	60	526	523	528	1,038	1,859
Total Liabilities Total LiabilitiesCr	38,147	46,739	55,842	67,156	74,526	98,066	1,17,749	1,31,824	1,62,773	1,90,180	1,98,936
Current Assets Current AssetsCr	3,926	6,368	2,623	3,356	5,310	5,652	7,337	7,850	9,201	9,729	12,286
Non Current Assets Non Current AssetsCr	34,221	40,371	53,218	63,801	69,216	92,413	1,10,412	1,23,974	1,53,573	1,80,451	1,86,650
Total Assets Total AssetsCr	38,147	46,739	55,842	67,156	74,526	98,066	1,17,749	1,31,824	1,62,773	1,90,180	1,98,936

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	3,802	6,526	7,534	8,826	5,452	6,892	8,496	9,922	6,104	8,352	11,473
Investing Cash Flow Investing Cash FlowCr	-3,503	-6,290	-6,951	-8,789	-4,991	-6,852	-8,835	-11,555	-5,001	-9,703	-11,125
Financing Cash Flow Financing Cash FlowCr	-187	-215	-116	-174	-383	-92	388	-233	-117	1,961	567
Net Cash Flow Net Cash FlowCr	112	20	466	-137	78	-51	48	-1,866	986	610	915
Free Cash Flow Free Cash FlowCr	3,803	6,528	7,535	8,828	5,452	6,893	8,497	9,924	6,106	8,354	11,479
CFO To PAT CFO To PAT%	967.0	1,099.9	1,705.0	2,119.2	1,998.0	1,231.3	2,668.3	2,195.7	1,551.1	2,053.2	10,983.0
CFO To EBITDA CFO To EBITDA%	734.8	867.5	1,419.3	1,743.3	1,205.2	1,179.4	2,062.0	1,801.1	1,436.5	1,769.4	5,421.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	3,802	6,526	7,534	8,826	5,452	6,892	8,496	9,922	6,104	8,352	11,473
Investing Cash Flow Investing Cash FlowCr	-3,503	-6,290	-6,951	-8,789	-4,991	-6,852	-8,835	-11,555	-5,001	-9,703	-11,125
Financing Cash Flow Financing Cash FlowCr	-187	-215	-116	-174	-383	-92	388	-233	-117	1,961	567
Net Cash Flow Net Cash FlowCr	112	20	466	-137	78	-51	48	-1,866	986	610	915
Free Cash Flow Free Cash FlowCr	3,803	6,528	7,535	8,828	5,452	6,893	8,497	9,924	6,106	8,354	11,479
CFO To PAT CFO To PAT%	967.0	1,099.9	1,705.0	2,119.2	1,998.0	1,231.3	2,668.3	2,195.7	1,551.1	2,053.2	10,983.0
CFO To EBITDA CFO To EBITDA%	734.8	867.5	1,419.3	1,743.3	1,205.2	1,179.4	2,062.0	1,801.1	1,436.5	1,769.4	5,421.1

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	9,200	15,411	12,175	11,713	10,387	29,655	26,018	21,915	34,570	39,607	51,489	44,209
Price To Earnings Price To Earnings	45.5	39.0	42.5	44.6	71.6	69.7	102.7	57.7	101.2	120.4	609.0	400.3
Price To Sales Price To Sales	0.8	1.0	0.8	0.6	0.6	0.9	0.8	0.7	0.7	0.8	1.1	0.9
Price To Book Price To Book	4.7	6.6	6.7	5.7	4.8	8.9	6.6	6.2	8.9	7.5	9.7	8.4
EV To EBITDA EV To EBITDA	17.1	20.0	21.8	22.1	22.0	49.9	63.0	38.6	80.5	83.7	242.0	140.1
Profitability Ratios Profitability Ratios
GPM GPM%	31.1	21.7	3.9	3.4	3.5	2.0	1.6	2.0	1.1	1.3	100.0	100.0
OPM OPM%	4.4	4.9	3.3	2.6	2.5	1.9	1.3	1.8	0.9	1.0	0.4	0.6
NPM NPM%	3.4	3.9	2.7	2.1	1.5	1.8	1.0	1.4	0.8	0.9	0.2	0.3
ROCE ROCE%	24.1	30.4	29.1	24.7	20.6	17.7	9.3	14.0	10.5	7.9	3.2	3.2
ROE ROE%	20.0	25.4	24.3	20.2	12.7	16.7	8.1	12.8	10.2	7.7	2.0	2.0
ROA ROA%	1.0	1.3	0.8	0.6	0.4	0.6	0.3	0.3	0.2	0.2	0.1	0.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	9,200	15,411	12,175	11,713	10,387	29,655	26,018	21,915	34,570	39,607	51,489	44,209
Price To Earnings Price To Earnings	45.5	39.0	42.5	44.6	71.6	69.7	102.7	57.7	101.2	120.4	609.0	400.3
Price To Sales Price To Sales	0.8	1.0	0.8	0.6	0.6	0.9	0.8	0.7	0.7	0.8	1.1	0.9
Price To Book Price To Book	4.7	6.6	6.7	5.7	4.8	8.9	6.6	6.2	8.9	7.5	9.7	8.4
EV To EBITDA EV To EBITDA	17.1	20.0	21.8	22.1	22.0	49.9	63.0	38.6	80.5	83.7	242.0	140.1
Profitability Ratios Profitability Ratios
GPM GPM%	31.1	21.7	3.9	3.4	3.5	2.0	1.6	2.0	1.1	1.3	100.0	100.0
OPM OPM%	4.4	4.9	3.3	2.6	2.5	1.9	1.3	1.8	0.9	1.0	0.4	0.6
NPM NPM%	3.4	3.9	2.7	2.1	1.5	1.8	1.0	1.4	0.8	0.9	0.2	0.3
ROCE ROCE%	24.1	30.4	29.1	24.7	20.6	17.7	9.3	14.0	10.5	7.9	3.2	3.2
ROE ROE%	20.0	25.4	24.3	20.2	12.7	16.7	8.1	12.8	10.2	7.7	2.0	2.0
ROA ROA%	1.0	1.3	0.8	0.6	0.4	0.6	0.3	0.3	0.2	0.2	0.1	0.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	BAJAJFINSV	BAJAJHLDNG	MFSL	GODREJIND	TATAINVEST	CHOLAHLDNG	TVSHLTD
Market CapitalizationMkt CapCr	2,72,350	1,25,372	44,209	34,359	30,585	25,590	22,656
Close PriceClose₹	1,700.00	11,265.00	1,281.00	1,020.00	604.50	1,362.80	11,198.00
IndustryIndustry	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company
Price To EarningsPE	26.73	14.15	400.31	29.23	102.81	9.59	11.50
Price To SalesPS	1.73	110.05	0.89	1.48	75.79	0.63	0.36
RevenueRevenueCr	1,57,642	1,139	49,822	23,225	404	40,890	62,488
Revenue Growth TTMRev Gr TTM%	14.7%	30.1%	4.9%	16.9%	31.0%	17.5%	31.7%
PAT Growth TTMPAT Gr TTM%	10.5%	5.6%	-58.9%	13.8%	31.6%	24.3%	49.4%

	BAJAJFINSV	BAJAJHLDNG	MFSL	GODREJIND	TATAINVEST	CHOLAHLDNG	TVSHLTD
Market CapitalizationMkt CapCr	2,72,350	1,25,372	44,209	34,359	30,585	25,590	22,656
Close PriceClose₹	1,700.00	11,265.00	1,281.00	1,020.00	604.50	1,362.80	11,198.00
IndustryIndustry	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company	Finance Holding Company
Price To EarningsPE	26.73	14.15	400.31	29.23	102.81	9.59	11.50
Price To SalesPS	1.73	110.05	0.89	1.48	75.79	0.63	0.36
RevenueRevenueCr	1,57,642	1,139	49,822	23,225	404	40,890	62,488
Revenue Growth TTMRev Gr TTM%	14.7%	30.1%	4.9%	16.9%	31.0%	17.5%	31.7%
PAT Growth TTMPAT Gr TTM%	10.5%	5.6%	-58.9%	13.8%	31.6%	24.3%	49.4%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26