MFSL
1 call
Concalls & earnings callsMax Financial Services Limited
Every summarised call, newest first. Latest is Q1 FY27, held 20 Aug 2026.
Latest quarter
Q1 FY27 snapshot
Open full brief →The company delivered strong growth and margin expansion, driven by a mix shift towards protection and annuity products, alongside benefits from a favorable yield curve.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Individual APE Growth | 15% | — | |
| VNB Margin | 23.2% | improved from 20.3% in Q1 FY26 | |
| Value of New Business (VNB) Growth | 33% | — | |
| Solvency Ratio | 198% | — |
Latest guidance
- Expect to outperform the industry.
- Focus on delivering VNB growth that outpaces APE growth.
- Confident in sustaining year-on-year margin profiles through FY27.
Said on the Q1 FY27 call.
Filed results
Reported quarterly history
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹8,923.21 Cr-27.8% YoY-33.3% QoQ | ₹69.81 Cr-59.2% YoY-49.9% QoQ | ₹1.62-62.3% YoY-50.3% QoQ |
| Q2 FY25 | ₹13,372.39 Cr+31.6% YoY+13.3% QoQ | ₹139.34 Cr-18.2% YoY-10.6% QoQ | ₹3.26-24% YoY-11.7% QoQ |
| Q1 FY25 | ₹11,798.84 Cr+28.7% YoY-20.7% QoQ | ₹155.94 Cr+54.2% YoYTurned profitable QoQ | ₹3.69+45.3% YoYTurned positive QoQ |
| Q4 FY24 | ₹14,887.81 Cr+49.9% YoY+20.5% QoQ | ₹-50.08 CrTurned loss-making YoYTurned loss-making QoQ | ₹-1.28Turned negative YoYTurned negative QoQ |
| Q3 FY24 | ₹12,355.67 Cr+38.9% YoY+21.6% QoQ | ₹171.21 Cr-36.4% YoY+0.5% QoQ | ₹4.30-34% YoY+0.2% QoQ |
Call history
- Q1 FY27Positive tone
The company delivered strong growth and margin expansion, driven by a mix shift towards protection and annuity products, alongside benefits from a favorable yield curve.
- Individual APE Growth
- 15%
- VNB Margin
- 23.2%improved from 20.3% in Q1 FY26