NSE: MFSL | BSE: 500271

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1377.40 -13.50 (-0.97%)

New 52W High in past week

929.7K NSE+BSE Volume

NSE 20 May, 2025 3:31 PM (IST)

47,536.1

Market Cap

0.7

Beta 1Year

Very Low volatility

Max Financial Services Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MFSL, BSE:500271 Max Financial Services Ltd.

Max Financial Services Ltd.

08 May 2019

1377.40

-0.97%

Healthy AUM growth; Asset quality stable

Buy: Max Financial Services Ltd.

Target

Motilal Oswal

Disbursement growth was 9% YoY v/s 30%+ YoY in the past two quarters. Consol. AUM grew 8% QoQ/29% YoY to INR55.6b. MEL and SME lending continued to drive loan growth (+30% YoY each). Interestingly, the 2W loan...

Max Financial Servic.. has an average target of 1190.00 from 2 brokers.

Max Financial Services Ltd.

12 Feb 2019

1377.40

-0.97%

Max Financial (3QFY19): In-line performance. Maintain BUY

Buy: Max Financial Services Ltd.

Target

HDFC Securities

Given that the distribution agreement is mutually beneficial for both Axis and MAXL, we suspect that MAXL may become an attractive takeover candidate for Axis Bank This holds optional upside value beyond our TP of Rs 595 (FY21 EV + 13.6x FY21E adj. VNB). MAXL reported a stable 3QFY19 as total APE printed Rs 8.7bn (+11.3% YoY/+1.0% QoQ). Share of protection in the mix rising to 12% (+400bps YoY), higher interest rates and better operating performance pulled 9MFY19 VNB margins (post overrun) higher to 20.4% (+240bps YoY, flat QoQ). On the back of expected 4QFY19 seasonal uptick, management is confident on closing FY19E at VNB margins of ~20.5-21.0%.

Max Financial Services Ltd. is trading above all available SMAs

Max Financial Services Ltd.

30 Nov 2018

1377.40

-0.97%

Max Financial

Hold: Max Financial Services Ltd.

Sharekhan

India as the product continues to be more of a savings/investment engine, competing with bank FDs and mutual funds (MF) rather than be seen as a safety net. Hence, a bancassurance channel becomes all the more important for the Indian insurance market. Notably, Max Financial Services (MFS) currently has a tie up with Axis Bank, and the bank is one of its primary...

Number of FII/FPI investors increased from 367 to 376 in Mar 2025 qtr.

Max Financial Services Ltd.

19 Nov 2018, 09:44PM

1377.40

-0.97%

Max Financial (2QFY19): Strong all-round performance. Maintain BUY

Buy: Max Financial Services Ltd.

HDFC Securities

MAXL has a strong franchise run by a credible management. The partnership with Axis Bank is mutually beneficial. While MAXL is open to evaluating acquisition candidates, we suspect it may become a lucrative takeover candidate for Axis Bank after the recent leadership change at the latter. This holds optional upside value beyond our TP of Rs 577 (avg of FY20-21E EV + 22.4x avg FY20-21E adj. VNB). Max reported a healthy 2QFY19. Total APE grew 30.5% YoY to Rs 8.6bn and VNB margins (post over-run) expanded 230bps YoY to 20.4%, with higher protection in the mix (+300bps YoY), rise in interest rates and better operating performance. Management is confident on improved margins in 2HFY19 with the seasonal uptick.

Max Financial Services Ltd. has gained 31.54% in the last 3 Months

Max Financial Services Ltd.

01 Nov 2018

1377.40

-0.97%

Max Financial

Hold: Max Financial Services Ltd.

Sharekhan

Max Financial Services Ltd. has gained 31.54% in the last 3 Months

Max Financial Services Ltd.

07 Aug 2018

1377.40

-0.97%

Max Financial (1QFY19): Investing to grow and de-risk. Maintain BUY

Buy: Max Financial Services Ltd.

Target

HDFC Securities

We have tweaked our APE growth assumptions as a result of which our target price increases to Rs 577 (FY20 EV + 26.5x FY20E adj. VNB). While 1QFY19 total APE grew 17% YoY to Rs 5.6bn post over-run VNB margins increased only 10bps YoY to 18.1%. Margin was dragged lower as 1Q is a seasonally slower qtr (~15% of annual premiums), product mix changed (300bps YoY improvement in protection offset by a 1300bps interchange from PAR to linked), and costs rose as a result of higher investments in proprietary channel and higher acquisition operating costs.

Max Financial Servic.. has an average target of 1190.00 from 2 brokers.

Max Financial Services Ltd.

07 Aug 2018

1377.40

-0.97%

Max Financial Services Ltd Q1FY19 results Comment

Results Update: Max Financial Services Ltd.

HDFC Securities

Operating Income increased by 992.13% to Rs. 128.98 Cr in Q1FY19 when compared to the previous quarter. Max Financial Services Ltd Q1FY19 results Comment

Max Financial Services Ltd. is trading above all available SMAs

Max Financial Services Ltd.

30 May 2018

1377.40

-0.97%

Max Financial (4QFY18): Improving margins! Maintain BUY

Buy: Max Financial Services Ltd.

HDFC Securities

We maintain BUY with a TP of Rs 665 (FY20 EV+ 26x FY20E VNB). New Business Premium and Individual APE grew at a better than expected 23.8% YoY and 27.6% YoY respectively. For FY18, VNB margin improved 140bps to 20.2% as a result of higher share of protection business, higher interest rates and better product features in the Non-par segment. During FY18, Max has delivered an impressive 20.6% RoEV (+70bps).

Max Financial Services Ltd. is trading above all available SMAs

Max Financial Services Ltd.

28 May 2018

1377.40

-0.97%

New Business Premium (NBP) grew by 23.7% yoy to Rs17.1bn in Q4FY18 (+60.5% qoq) (Emkay Es...

Buy: Max Financial Services Ltd.

Emkay

New Business Premium (NBP) grew by 23.7% yoy to Rs17.1bn in Q4FY18 (+60.5% qoq) (Emkay Est: Rs17.1bn). APE growth was also in line at Rs13.5bn (+23.9% yoy; 74.9% qoq). Renewals at Rs29.3bn came in better than expected due to improvement in 25 th Month & 37th Month persistency to 72% (+200 bps yoy) and 62% (+200 bps yoy), respectively. The 13th Month persistency remained stable at 80%....

Max Financial Services Ltd. has gained 34.41% in the last 1 Year

Is Max Financial Services Ltd. worth buying?

218 Votes:

Buy 70.64%

Sell 19.72%

Hold 9.63%

RESEARCH REPORTS

Neutral SEE REPORTS >

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Neutral SEE REPORTS >

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