Max India
MAXIND NSE
Max India
Financial ServicesNSE: MAXIND BSE: 543223 Holding Company
Key Fundamentals
MicrocapHolding CompanyFinancial ServicesMarket Cap
₹764 Cr
Volatility
Moderate
P/E Ratio
-6.2
EBITDA
₹-83.10 Cr
Return on Equity
-29.84%
Debt to Equity
0.23
Book Value
₹77.93
EPS
₹0
52W High
₹241.57
52W Low
₹120
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
6- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -1.50%
- The company has delivered a poor sales growth of 10.6% over past five years.
- Company has a low return on equity of -23.3% over last 3 years.
- Debtor days have increased from 41.0 to 64.0 days.
- Working capital days have increased from 12.6 days to 231 days
Growth Rate
Revenue Growth
29.96% higher than
3Y
Net Income Growth
-13.25% lower than
3Y
Cash Flow Change
25.77% higher than
3Y
ROE
-23.76% higher than
3Y
ROCE
-24.33% lower than
3Y
EBITDA Margin (Avg.)
-35.77% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 41 | 49 | 41 | 45 | 26 | 43 | 35 | 42 | 37 | 45 | 43 | 66 | 60 |
| Expenses | 53 | 54 | 58 | 66 | 54 | 64 | 64 | 82 | 65 | 76 | 79 | 81 | 94 |
| Operating Profit | -12 | -5 | -17 | -21 | -28 | -21 | -30 | -41 | -28 | -31 | -36 | -15 | -34 |
| OPM % | -31% | -9% | -43% | -46% | -106% | -49% | -85% | -98% | -76% | -69% | -83% | -23% | -58% |
| Other Income | 6 | 6 | 5 | 5 | 6 | 5 | -8 | 4 | 13 | 5 | 4 | 6 | 9 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 4 | 4 | 3 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 3 | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 7 |
| PBT | -10 | -2 | -17 | -20 | -27 | -22 | -44 | -45 | -25 | -36 | -41 | -19 | -36 |
| Tax % | 19% | 160% | 8% | 6% | 0% | 3% | 0% | 2% | 4% | -5% | 3% | 2% | 2% |
| Net Profit | -12 | -5 | -18 | -22 | -27 | -23 | -45 | -46 | -26 | -34 | -43 | -19 | -36 |
| EPS in Rs | -2.38 | -0.91 | -3.48 | -4.2 | -5.25 | -4.42 | -8.68 | -8.88 | -4.91 | -6.52 | -8.17 | -3.67 | -6.91 |
Profit & Loss
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 213 | 128 | 233 | 212 | 191 | 163 | 211 | 214 |
| Expenses | 266 | 150 | 233 | 202 | 229 | 264 | 299 | 330 |
| Operating Profit | -53 | -22 | 1 | 10 | -38 | -101 | -88 | -116 |
| OPM % | -25% | -17% | 0.3% | 4.8% | -20% | -62% | -42% | -54% |
| Other Income | 325 | -7 | -1 | 1 | 4 | -11 | 6 | 24 |
| Interest | 27 | 24 | 10 | 6 | 5 | 8 | 14 | 13 |
| Depreciation | 8 | 10 | 7 | 8 | 10 | 19 | 25 | 27 |
| PBT | 237 | -64 | -18 | -3 | -49 | -139 | -121 | -132 |
| Tax % | 2% | -17% | -11% | 245% | 15% | 1% | 1% | — |
| Net Profit | 232 | -53 | -16 | -10 | -56 | -140 | -122 | -132 |
| EPS in Rs | 29,706 | -8.3 | -2.52 | -2.03 | -10.97 | -27.05 | -23.2 | -25.27 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 54 | 54 | 54 | 43 | 43 | 44 | 53 |
| Reserves | 652 | 599 | 588 | 499 | 449 | 315 | 356 |
| Borrowings | 182 | 145 | 61 | 45 | 44 | 102 | 96 |
| Other Liabilities | 136 | 198 | 156 | 166 | 148 | 172 | 165 |
| Total Liabilities | 1,024 | 996 | 858 | 753 | 684 | 633 | 669 |
| Fixed Assets | 144 | 156 | 159 | 159 | 193 | 170 | 195 |
| CWIP | 1 | 0 | 0 | 0 | 10 | 21 | 2 |
| Investments | 414 | 334 | 178 | 83 | 63 | 53 | 34 |
| Other Assets | 465 | 506 | 522 | 511 | 418 | 389 | 438 |
| Total Assets | 1,024 | 996 | 858 | 753 | 684 | 633 | 669 |
Cash Flow
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | -19 | 73 | 66 | 69 | -102 | -128 | -95 |
| Investing | -526 | 13 | 18 | 124 | 159 | 47 | -50 |
| Financing | 557 | -73 | -94 | -119 | -29 | -13 | 148 |
| Net Cash Flow | 12 | 12 | -10 | 75 | 27 | -93 | 4 |
| Free Cash Flow | -209 | 61 | 64 | 66 | -131 | -163 | -127 |
| CFO/OP | -15 | -326 | 7,765 | 690 | 241 | 126 | 103 |
Ratios
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 21 | 9 | 5 | 9 | 50 | 64 |
| Inventory Days | 1,682 | 6,515 | 384 | 223 | 38 | 186 | 107 |
| Days Payable | 149 | 631 | 28 | 48 | 148 | 346 | 236 |
| Cash Conversion Cycle | 1,557 | 5,906 | 365 | 180 | -100 | -111 | -65 |
| Working Capital Days | 493 | 581 | 342 | 249 | -99 | -93 | 231 |
| ROCE % | — | -4% | 0% | 1% | -8% | -24% | -23% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Max India insights
59 extracted metrics + investor summaries across FY20–FY26.
Documents
2
Announcement under Regulation 30 (LODR)-Change in Management
9 Apr - Max India appoints Ms. Mrinalini Mirchandani as independent director for 5 years from April 15, 2026. 9 Apr - Max India appoints Ms. Mrinalini Mirchandani as independent director for 5 years from April 15, 2026.
3
Announcement under Regulation 30 (LODR)-Change in Directorate
9 Apr - Ms. Mrinalini Mirchandani appointed Independent Director from April 15, 2026 to April 14, 2031, subject to approval. 9 Apr - Ms. Mrinalini Mirchandani appointed Independent Director from April 15, 2026 to April 14, 2031, subject to approval.
4
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
6 Apr - Filed Regulation 74(5) certificate for quarter ended March 31, 2026. 6 Apr - Filed Regulation 74(5) certificate for quarter ended March 31, 2026.
5
Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 Mar - March 31, 2026: AGEasy launches Smart Liquid Distribution™ adult diaper pants, patent-pending, up to 12-hour protection, ISI-marked. 31 Mar - March 31, 2026: AGEasy launches Smart Liquid Distribution™ adult diaper pants, patent-pending, up to 12-hour protection, ISI-marked.
1
Disclosure Under Listing Regulations - Submission Of Audio Recording Of Earnings Conference Call 26 May 2023
2
Disclosure Under Listing Regulations - Submission Of Audio Recording Of Earnings Conference Call 2 Feb 2023
Frequently Asked Questions about Max India
What does Max India Ltd do?
Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs. [1]
Where is Max India Ltd (MAXIND) listed?
Max India Ltd trades as MAXIND on the NSE and under code 543223 on the BSE.
Which sector does Max India Ltd belong to?
Max India Ltd is classified under the Financial Services sector, in the Holding Company industry.
What is the market capitalisation of Max India Ltd?
Max India Ltd has a market capitalisation of ₹764.16 Cr, which places it in the Small Cap band.
What is the PE ratio of Max India Ltd?
Max India Ltd trades at a PE ratio of -6.20, on earnings per share of ₹0, against a book value of ₹77.93 per share.
What is the 52-week high and low of Max India Ltd?
Over the last 52 weeks Max India Ltd has traded between ₹120 and ₹241.57.
What is the Return on Equity (ROE) of Max India Ltd?
Max India Ltd reported a return on equity of -29.84%. Its debt-to-equity ratio is 0.23.
Company Information
Max India is the holding company of Max Group’s Senior Care business Antara, an integrated service provider for all senior care needs. [1]
Website maxindia.com
CEO Mr. Analjit Singh BA, BS, MBA
Employees 19
Listed 2020-08-28
Face Value ₹ 10
Issued Size 5,24,50,362
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