Max Financial Services Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025. The Board of Directors approved these results on February 11, 2026. The results reflect key movements in revenue and expenses, particularly noting the impact of uncertain legal matters pending resolution, for which no financial adjustment has been made in the current reporting period.
Unaudited Results Approval
The Board of Directors of Max Financial Services Limited convened today, February 11, 2026, to inter-alia approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The meeting commenced at 1645 hours (IST) and concluded at 1715 hours (IST).
Consolidated Financial Highlights (Q3 FY2026 vs. Q3 FY2025)
The consolidated performance shows significant figures:
- Total Income for the quarter ending December 31, 2025, stood at Rs. 14,267.43 Crores, compared to Rs. 8,925.79 Crores for the same period last year.
- Profit After Tax from continuing operations for the quarter was Rs. 44.75 Crores, against Rs. 70.01 Crores previously.
- Total Comprehensive Income for the nine months ended December 31, 2025, reached Rs. 373.43 Crores.
Standalone Performance Summary (Q3 FY2026 vs. Q3 FY2025)
Key standalone (Loss) figures for the quarter:
- (Loss) Before Tax was reported at (Rs. 1.49 Crores) for the quarter ending December 31, 2025, compared to (Rs. 4.27 Crores) for the nine-month period ended December 31, 2025.
- The standalone Basic Earnings Per Share (EPS) for the quarter was Rs. 0.05.
Segmental Performance Overview
The company’s revenue is categorized primarily into two segments:
- Life Insurance: Segment Revenue for the nine months ending December 31, 2025, was Rs. 36,869.40 Crores.
- Business Investments: Segment Revenue for the nine months ending December 31, 2025, was Rs. 18.49 Crores.
- The consolidated Profit Before Tax (excluding discontinuing operations) for the nine months reached Rs. 157.84 Crores.
Key Operational Notes and Uncertainties
Several significant items require attention based on the accompanying notes:
- Legal Uncertainty: Note 5 specifically addresses an uncertainty related to a show cause notice received from the regulator regarding alleged non-compliances in prior years. No financial impact has been accounted for pending the outcome of this matter.
- Subsidiary Reporting: The consolidated results include figures from subsidiaries, notably Axis Max Life Insurance Limited (AMLI), where actuarial valuations regarding life policy liabilities comply with relevant accounting standards.
- Labor Code Impact: The implementation of the New Labour Codes led to the recognition of an incremental employee benefit expense of Rs. 96.52 Crores for the period ending December 31, 2025, based on early compliance assessments.
- Proposed Amalgamation: The Board granted in-principle approval on January 28, 2026, for the potential amalgamation of the Company into AMLI, subject to regulatory approvals enabled by recent legislative amendments.
Source: BSE
