968.40 28.15 (2.99%)
NSE Dec 01, 2021 15:31 PM
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Max Financial Services Ltd.    
10 Nov 2021
968.40
2.99%

Highlights:

  • Max Financial Services H1FY22 Consolidated Revenue^ Rises 21% To Rs 15,271 Cr
  • Max Life Total Aum Crosses Rs 1 Trillion
  • Value Of New Business Grows 24% YoY, Highest Ever Quarterly Margin Of 29.1%

    Max Life Results Highlights (H1FY22)
    • Total Assets Under Management (AUM): Rs 100,090 Cr, Up 29%
    • Gross Written Premium: Rs 8,815 Cr, Up 21%.
    • Embedded Value at Rs 12,988 Cr; Operating RoEV at 18%
    • Value of New Business at Rs 546 Cr, Up 24%.
  • Max Financial Services Limited (MFSL) today announced its financial results for the second quarter (Q2) and H1 (first half) of the financial year FY22. In the first half of the FY22, MFSL reported consolidated revenues of Rs 15,271 Cr, a growth of 21% from the year-ago period. The consolidated Profit Before Tax (PBT) stood at Rs 134 Cr, down 45% in H1FY22, primarily due to recovery in investment value in last year.
  • MFSL’s sole operating subsidiary, Max Life, achieved a landmark with its Assets Under Management (AUMs) crossing the Rs 1-trillion mark to reach Rs 100,090 Cr – an uptick of 29% from Rs 77,764 Cr in the year-ago period. Max Life registered a 25% increase in total revenues* at Rs 11,570 Cr in H1FY22.
  • During H1FY22, Max Life delivered a strong performance on new business premiums (on APE basis) as it achieved a 18% jump to Rs 2,127 Cr. Further, the renewal premium income (including group) rose 19% to Rs 5,706 Cr, taking the gross written premium to Rs 8,815 Cr, a spurt of 21% over the same period in the previous financial year.
  • This strong performance was despite a more severe impact of the second wave of COVID-19 compared with the first wave. Claim experiences were higher than expected across all lines of businesses with significantly higher variance for Protection and Group businesses.
  • Max Life maintained 4th rank in the private industry. In terms of industry performance, Max Life once again posed robust results as it grew 19% in H1FY22 compared with the year-ago period. On a 2-Year CAGR, Max Life surpassed the other private players, growing at 11% while the private industry grew 8%

Mr. Mohit Talwar, Managing Director, Max Financial Services, said, “Our robust performance in H1FY22 was driven by our constant endeavors towards customer measures despite the immense pressure on the overall sector due to the COVID-19 provisioning. Moving forward, this will continue to remain an important priority. Approval to act as Pension Fund sponsor will help us serve our customers even more comprehensively and this is in line with our focus on the retirement segment.”

He added: “Max Life crossing the Rs 1-trillion mark in the Assets Under Management category showcases the faith reposed in us by different stakeholders. Max Life will continue on this growth trajectory.”

Result PDF

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Promoters unpledged 5.47% of shares in last quarter. Total pledge stands at 56.7% of promoter holdings
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