GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
M

Max India MAXIND.NS · INR

Health Care · NSE · 🇮🇳 India

Compare

149.38

+1.16%

Close of 9 Nov 2026, in INR

Search any instrument

Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in INR, from our data supplier.

FY2026

Revenue

₹1.91bn

FY2017FY2026

Net income

−₹1.22bn

FY2017FY2026

Free cash flow

−₹1.36bn

FY2017FY2026

Shareholders' equity

₹4.08bn

FY2017FY2026

Income statement

Fiscal years

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue₹1.91bn₹1.45bn₹1.58bn₹2.13bn₹1.69bn₹1.21bn₹1.83bn₹1.50bn₹2.26bn₹14.41bn
Operating income−₹1.31bn−₹1.31bn−₹642.0m₹439.9m−₹77.5m−₹281.2m₹427.0m−₹262.4m−₹607.7m₹7.50bn
Net income−₹1.22bn−₹1.40bn−₹563.8m−₹104.0m−₹161.4m−₹531.2m₹2.55bn−₹862.7m−₹423.8m−₹462.0m
Diluted earnings per share-23.21-26.77-13.06-2.41-3.75-9.7847.31-16.04-7.88-8.80

Balance sheet

At each fiscal year end

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Total assets₹6.69bn₹6.33bn₹6.84bn₹7.53bn₹8.54bn₹9.98bn₹10.24bn₹23.35bn₹23.49bn₹23.72bn
Cash and short-term investments₹943.8m₹1.43bn₹2.96bn₹3.86bn₹3.99bn₹4.47bn₹4.36bn₹453.8m₹4.21bn₹5.97bn
Total liabilities₹2.61bn₹2.74bn₹1.92bn₹2.11bn₹2.17bn₹3.44bn₹3.18bn₹10.52bn₹9.29bn₹9.77bn
Debt₹962.1m₹1.02bn₹435.7m₹453.0m₹607.6m₹1.45bn₹1.82bn₹1.94bn₹2.14bn₹2.48bn
Shareholders' equity₹4.08bn₹3.59bn₹4.92bn₹5.42bn₹6.37bn₹6.53bn₹7.06bn₹11.70bn₹12.90bn₹12.68bn
Shares outstanding53m52m43m43m43m54m54m54m54m53m

Cash flow

Fiscal years

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash from operations−₹846.6m−₹1.12bn−₹1.02bn₹694.1m₹665.0m₹726.7m₹349.4m−₹25.4m₹311.1m₹778.2m
Capital spending−₹513.3m−₹358.8m−₹287.5m−₹36.6m−₹67.0m−₹117.5m−₹1.64bn−₹1.64bn−₹363.7m−₹2.54bn
Free cash flow−₹1.36bn−₹1.47bn−₹1.31bn₹657.5m₹598.0m₹609.2m−₹1.29bn−₹1.66bn−₹52.6m−₹1.76bn

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue₹597.4m₹656.3m₹431.0m₹451.6m₹366.7m₹415.2m₹347.4m₹427.7m
Operating income−₹224.0m−₹205.2m−₹379.7m−₹362.0m−₹336.2m−₹411.0m−₹423.7m−₹257.6m
Net income−₹362.8m−₹192.9m−₹428.5m−₹340.7m−₹256.4m−₹460.9m−₹446.0m−₹227.3m
Diluted earnings per share-6.91-3.67-8.17-6.50-4.89-8.79-10.33-5.26
Cash from operations———−₹457.0m————
Capital spending———−₹198.0m————
Free cash flow———−₹655.0m————
Total assets—₹6.69bn—₹8.38bn₹7.14bn₹6.33bn—₹6.58bn
Cash and short-term investments₹1.07bn₹943.8m₹3.57bn₹3.57bn₹1.88bn₹1.43bn₹2.49bn₹2.49bn
Debt—₹102.0m—₹1.13bn—₹132.7m—₹64.4m
Shareholders' equity₹4.08bn₹4.08bn₹4.67bn₹4.67bn₹3.59bn₹3.59bn₹4.45bn₹4.45bn

Financial ratios

Data as of 8 Oct 2026

FY2026FY2025FY2024FY2023FY2022FY2021
Operating margin-56.2%-90.2%-30.3%-6.1%-2.5%-28.8%
Net margin-63.9%-96.5%-35.7%-4.9%-6.9%-54.5%
Return on equity-29.8%-39.1%-11.5%-1.9%-2.5%-8.1%
Return on assets-18.2%-22.2%-8.2%-1.4%-1.9%-5.3%
Free cash flow yield-4.0%-9.1%-10.8%10.7%10.7%9.8%
Revenue growth31.0%-7.8%-25.8%-9.4%140.6%-46.8%
Earnings growth-13.2%149.0%442.1%-35.5%-69.6%-120.9%
Current ratio2.35x1.58x2.47x2.84x3.58x3.22x
Debt to equity0.02x0.02x0.01x0.05x0.07x0.19x
Equity ratio61.0%56.7%71.9%72.0%74.6%65.5%
Interest coverage-7.77x-16.29x-10.42x-2.08x-0.57x-1.15x
Buybacks as a share of market value-0.1%-21.5%-0.0%-0.3%20.7%-0.9%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-3.6%9.5%-15.1%
Operating income—36.0%—
Net income127.1%18.1%6.6%

Average margins

Over each period

1 year3 years5 years10 years
Operating margin-77.8%-39.9%-31.9%21.8%
Net margin-78.0%-46.6%-40.0%-9.6%

Valuation history

At each fiscal year end

FY2026FY2025FY2024FY2023FY2022FY2021FY2020
Price to earnings-6.5-6.9-20.8-67.7-27.8-7.61.3
Price to sales4.16.77.43.32.63.41.8

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years.

  • 100-to-80 reverse split · 26 Jul 2022

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.