Life Insurance company Max Financial Services announced Q4FY26 & FY26 results Consolidated Financial Highlights: Total Revenue from operations for Q4FY26 stood at Rs 10,801.94 crore, representing a decrease of 24.25% QoQ from Rs 14,258.93 crore in Q3FY26 and a decrease of 12.72% YoY from Rs 12,375.76 crore in Q4FY25. Total Income for the quarter was Rs 10,805.48 crore, compared to Rs 14,267.43 crore in Q3FY26 and Rs 12,396.08 crore in Q4FY25. For FY26, Total Revenue from operations was Rs 47,674.11 crore, showing a growth of 2.59% over Rs 46,468.91 crore in FY25. The Group reported a Net Loss for the period of Rs 31.52 crore in Q4FY26, as against a Net Profit of Rs 44.76 crore in Q3FY26 and a Net Profit of Rs 38.28 crore in Q4FY25. For the full year FY26, Net Profit for the period was Rs 105.56 crore, a decrease of 73.83% compared to Rs 403.38 crore in FY25. Total Comprehensive Loss for Q4FY26 was Rs 83.12 crore, compared to a Total Comprehensive Income of Rs 31.55 crore in Q3FY26 and Rs 54.73 crore in Q4FY25. Basic Earnings Per Share (EPS) from continued operations for Q4FY26 was Rs -0.81, while the full-year FY26 EPS stood at Rs 2.42, compared to Rs 9.61 in FY25. Standalone Financial Highlights: Total Revenue from operations for Q4FY26 was Rs 17.00 crore, reflecting a significant increase from Rs 2.93 crore in Q3FY26 and Rs 3.74 crore in Q4FY25. For the full year FY26, Standalone Total Revenue from operations stood at Rs 25.79 crore, up 66.71% from Rs 15.47 crore in FY25. Net Profit for the quarter Q4FY26 was Rs 10.17 crore, compared to Rs 1.65 crore in Q3FY26 and a Net Loss of Rs 2.59 crore in Q4FY25. Standalone Net Profit for FY26 was Rs 5.90 crore, compared to a Net Loss of Rs 9.22 crore in the previous year FY25. Total Comprehensive Income for Q4FY26 was Rs 10.23 crore, while for the full year FY26 it was Rs 6.01 crore. Business Highlights & Segment Performance: Life Insurance Segment Performance: The Life Insurance segment recorded a revenue of Rs 10,802.09 crore in Q4FY26 compared to Rs 12,374.53 crore in Q4FY25. For FY26, segment revenue was Rs 47,671.49 crore compared to Rs 46,463.97 crore in FY25. The segment reported a loss of Rs 2.68 crore for Q4FY26, while the full-year FY26 segment results (profit) stood at Rs 221.56 crore compared to Rs 470.08 crore in FY25. Business Investments Segment Performance: Segment revenue for Q4FY26 was Rs 20.22 crore, and for the full year FY26, it was Rs 38.71 crore. The segment recorded a loss of Rs 3.78 crore in Q4FY26 and a loss of Rs 12.23 crore for the full year FY26. Capital Infusion & Axis Bank Transaction: Axis Bank collectively holds 19.02% of the equity share capital of Axis Max Life Insurance Limited (AMLI) as of March 31, 2026. On April 2, 2026, the Board of Directors of AMLI recommended the issuance of 2,50,56,200 equity shares to Axis Bank on a preferential basis for an aggregate investment of Rs 389 crore to meet funding requirements. Fund Raising: During the quarter ended September 30, 2025, AMLI raised Rs 800 crore through the issuance of unsecured, subordinated, listed, rated, redeemable, taxable, non-cumulative, non-convertible debentures (NCDs) at a coupon rate of 7.95%. Amalgamation: The Board of Directors has accorded in-principle approval for the amalgamation of the Company with its subsidiary, AMLI, on January 28, 2026. Voluntary Liquidation: Max Life Pension Fund Management Limited (MLPFM) has applied for the surrender of its registration and is currently undergoing voluntary liquidation. Result PDF
Conference Call with Max Financial Services Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Life Insurance company Max Financial Services announced Q3FY26 results Revenue: Rs 14,258.93 crore against Rs 8,922.67 crore during Q3FY25, change 60%. PBT: Rs 50.06 crore against Rs 80.94 crore during Q3FY25, change -38%. PAT: Rs 44.76 crore against Rs 69.81 crore during Q3FY25, change -36%. EPS: Rs 1.07 for Q3FY26. Result PDF
Conference Call with Max Financial Services Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.
Life Insurance company Max Financial Services announced Q1FY26 results Max Financial Services Limited reports 18% growth in consolidated revenue excluding investment income. Axis Max Life Insurance Limited’s private industry market share increased by 121 bps to 10%. Individual Adjusted First Year Premium at Rs 1,553 crore, grew 23%. Gross Written Premium: Rs 6,397 crore, up 18% YoY. VNB (measure of profitability) at Rs 335 crore, up 32% YoY; New business margin improved by 260 bps to 20.1%. Embedded Value at Rs 26,478 crore, grows 20% with an Operating RoEV of 14.3%. Individual New Business Sum Assured grew by 26%. Assets Under Management (AUM) at Rs 1,83,211 crore, up by 14%. New retail policy sales increase by 10%. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said: "We have started the fiscal on a positive momentum, achieving a 23% YoY increase in Individual Adjusted First Year Premium. This robust growth is built on a foundation of a balanced product mix, a wide-reaching and diversified distribution network, and a relentless focus on innovation to meet the emergent customer needs. Our New Business Margin improved significantly to 20.1% in the first quarter, while the Value of New Business (VNB) saw a 32% year-on-year growth reflecting a proactive and strategic market approach, delivering a 121 basis point gain in Axis Max Life’s private industry market share. This performance not only demonstrates our operational efficiency but also the ability to generate sustainable, long-term value. As we move forward, our aspiration is clear and ambitious: to continue outpacing the industry growth while marching towards the goal of being among the top 3 private life insurers in India." Result PDF