Max India
- P/E
- Not meaningful: loss-making over the last twelve months
Key Fundamentals
MicrocapFinanceFinancial ServicesPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- −23.00%
- Debt to Equity
- 0.23
- EPS (TTM)
- −₹25.27
- Book Value
- ₹77.93
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 1.88
- ROE
- −32.80%
- Dividend Yield
- 0.00%
- EBITDA
- −₹83.10 Cr
- 52W High
- ₹215.95
- 52W Low
- ₹120.00
- Day Range
- ₹145.25 – ₹168.00
- Volume
- 2,49,245
Peer Comparison
Financial Services › Holding Company
| ₹1,756.50 | 27.70 | ₹2,81,114 Cr | 3.35 | 0.09% | 13.20% | 10.60% | ₹1,63,654 Cr | ₹20,637 Cr | |
| ₹10,433.00 | 13.11 | ₹1,15,968 Cr | 1.59 | 0.63% | 11.90% | 11.00% | ₹1,139 Cr | ₹8,993 Cr | |
| ₹745.95 | 71.45 | ₹16,587 Cr | 9.42 | 0.00% | 16.10% | 17.90% | ₹1,194 Cr | ₹251 Cr | |
| ₹121.94 | 19.14 | ₹11,783 Cr | 2.50 | 1.22% | 14.20% | 14.10% | ₹10,508 Cr | ₹711 Cr | |
| ₹113.95 | 10.48 | ₹11,024 Cr | 1.02 | 2.90% | 11.90% | 11.60% | ₹4,180 Cr | ₹1,111 Cr | |
| ₹1,475.80 | 24.95 | ₹2,162 Cr | 1.83 | 3.14% | 7.00% | 9.52% | ₹6,129 Cr | ₹127 Cr | |
| Max India (this company) | ₹146.86 | — | ₹866 Cr | 1.88 | 0.00% | −32.80% | −23.00% | ₹214 Cr | −₹132 Cr |
| Median 7 companies | ₹745.95 | 22.05 | ₹11,783 Cr | 1.88 | 0.63% | 11.90% | 11.00% | ₹4,180 Cr | ₹711 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 94/100
Category scores
- Quality
- 35
- Poor
- Returns, margins, earnings quality 22% weight
- Valuation
- 23
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 87
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 3
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 28
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 42
- Weak
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
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
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 12 | 6 | 1 |
| Oscillators | Bearish | 2 | 6 | 1 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bearish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 43.55
- Neutral
- MACD (12,26,9)
- −2.36
- Bearish
- SMA (50)
- 151.57
- Bearish
- SMA (200)
- 156.94
- Bearish
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +10.51% |
|---|---|
| 3Y | −0.16% |
| 1Y | +29.45% |
| TTM | +36.31% |
Net profit
| 5Y | Loss widened by ₹69 Cr |
|---|---|
| 3Y | Loss widened by ₹112 Cr |
| 1Y | Loss narrowed by ₹18 Cr |
| TTM | Loss narrowed by ₹8 Cr |
Operating cash flow
| 5Y | Turned negative |
|---|---|
| 3Y | Turned negative |
| 1Y | Outflow narrowed by ₹33 Cr |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | −24.52 pp |
|---|---|
| 3Y | −46.43 pp |
| 1Y | +20.25 pp |
| TTM | +22.22 pp |
Revenue by year
| Mar 2020 | ₹213 Cr |
|---|---|
| Mar 2021 | ₹128 Cr |
| Mar 2022 | ₹233 Cr |
| Mar 2023 | ₹212 Cr |
| Mar 2024 | ₹191 Cr |
| Mar 2025 | ₹163 Cr |
| Mar 2026 | ₹211 Cr |
Net profit by year
| Mar 2020 | ₹232 Cr |
|---|---|
| Mar 2021 | −₹53.00 Cr |
| Mar 2022 | −₹16.00 Cr |
| Mar 2023 | −₹10.00 Cr |
| Mar 2024 | −₹56.00 Cr |
| Mar 2025 | −₹140 Cr |
| Mar 2026 | −₹122 Cr |
Quarterly Results
₹ Cr| 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 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 41 | 49 | 41 | 45 | 26 | 43 | 35 | 42 | 37 | 45 | 43 | 66 | 60 | 87 |
| Expenses | 53 | 54 | 58 | 66 | 54 | 64 | 64 | 82 | 65 | 76 | 79 | 81 | 94 | 107 |
| Operating Profit | −12 | −5 | −17 | −21 | −28 | −21 | −30 | −41 | −28 | −31 | −36 | −15 | −34 | −20 |
| OPM % | −31% | −9% | −43% | −46% | −106% | −49% | −85% | −98% | −76% | −69% | −83% | −23% | −58% | −23% |
| Other Income | 4.83 | 6 | 3.84 | 5 | 6 | 5 | −8 | 4 | 13 | 5 | 4 | 6 | 9 | 9 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 4 | 4 | 3 | 3 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 3 | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 7 | 7 |
| PBT | −10 | −2 | −17 | −20 | −27 | −22.74 | −44.96 | −45 | −25 | −35.28 | −41 | −19 | −35.06 | −22 |
| Tax % | 19% | 160% | 8% | 6% | 0% | 3% | 0% | 2% | 4% | −5% | 3% | 2% | 2% | 3% |
| Net Profit | −12 | −5 | −18 | −22 | −27 | −23 | −45 | −46 | −26 | −34 | −43 | −19 | −36 | −22 |
| EPS (₹) | −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 | — |
Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| 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 (₹) | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | −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
₹ Cr| 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
₹ Cr| 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 across FY20–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q4 FY26 concall · May 2026PPT
- Q3 FY26 concall · Feb 2026PPT
- Q3 FY26 concall · Feb 2026Transcript PPT
- 11 Aug 2026
- Compliance 3 Nov 2026
Frequently Asked Questions about Max India
What does Max India Ltd do?
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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.
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