Max Financial Services Ltd. (MFS), formerly known as Max India Ltd., is the holding company for Max Life, a private life insurance company. The company operates in the business of investments and offering consultancy services to its subsidiaries. Max Life Insurance Company Ltd. offers life insurance and retirement solutions for protections and long-time savings. Max Financial Services Ltd. is listed for trading in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Max Financial Services Ltd. has a market capitalisation, as of 16 August 2018, a little more than Rs.12,400 crore.
Company’s Wealth and Recent Performance
- Max Financial Services Ltd. reported consolidated revenues of Rs.3,099 crore, up by 21% compared to the previous year.
- The company’s net profit before tax of Rs.78 crore, down by 10% as against the previous year.
- Max life, the company’s sole subsidiary, reported revenues of Rs.3,085 crore, up by 20% compared to the corresponding quarter last year.
- The business also reported its Embedded Value based on market consolidation mechanism at Rs.7,645 crore with an Operating Return on EV of 15%.
- Max Life’s asset management, as of 30 June 2018, was at Rs.53,940 crore, up by 18% compared to the previous year.
- Max Life reported Individual Adjusted Sales of Rs.527 crore, up by 15%, while its Total Sales stood at Rs.641 crore, up by 16% compared to last year.
- The company also reported a Solvency Surplus of Rs.1,911 crore with an impressive Solvency Ratio of 262%.
- The company’s digital and online sales channel accounts for nearly one in four new customers being included in the firm’s portfolio.
Max Financial Services Ltd. Stock Trends in 2018
- The stock market opened for trading on the 1st of January 2018 and the stock price of the company stood at Rs.597.05 which declined by the end of the month to stand at Rs.534.25.
- On the 2nd of February, it opened at Rs.535 and dropped significantly towards the end of the month to close at Rs.495.45.
- On the 1st of March, the share price of the company stood at Rs.494.95 and slipped to a touch a new low of Rs.425.25 on the 20th of the month before it recovered to close the month at Rs.453.45.
- When the market opened for trading on the 2nd of April, the price stood at Rs.460.40 but declined to Rs.425.65 on the 16th before it inclined considerably to end the month at Rs.515.70.
- On the 1st of May, the price of the stock stood at Rs.515.70 and declined to Rs.459.35 on the 24th; however, it recovered and ended the month at Rs.490.10.
- The price on the 1st of June stood at Rs.481.80 and slipped significantly to end at Rs.432.55 on the 29th of the month.
- On the 2nd of July, the price stood at Rs.429.95 and inclined considerably to close the month at Rs.497.20.
Max Financial Services Ltd. Stock Trends in 2016 and 2017
- When the stock market opened for trading on the 1st of January 2016, the price of the company’s share stood at Rs.523.85 and dropped significantly by more than 150 points to end at Rs.365.70. On the 1st of February, the price stood at Rs.371.15 and the price fluctuated over the course of the month to end at Rs.336.40. On 1 March, the price of the stock stood at Rs.325.15 before ending the month at Rs.344.05.
- On the 1st of April, it stood at Rs.344.90 and inclined to end the month at Rs.365.20. On the 2nd of May, the price stood at Rs.372.75 and ended nearly 30 points lower by the end of the month. On 1 June, the stock opened for trading at Rs.369.50 and rose to touch Rs.552.05 on the 27th of the month; however, it closed at Rs.532.75.
- The company’s stock price stood at Rs.529.15 on the 1st of July and inclined to touch Rs.579.95 on the last day of the month. The price stood at Rs.556.30 on the 1st of August and dropped to Rs.498.95 on the 19th before recovering to end the month at Rs.579.80. When the market opened for trading on the 1st of September, the share price stood at Rs.568.95 and ended at Rs.555.60.
- On the 3rd of October, the stock was valued at Rs.558.55 and ended the month a little more than 5 points. On the 1st of November, the stock price stood at Rs.558.20 and closed at Rs.534.05 on the last day of the month. In December, it fluctuated over the course of the month to end at Rs.548.75.
- When the market was open on the 2nd of January 2017 for trading, the price of the stock was at Rs.557.55 and closed at Rs.564.65on the last day of the month. On the 1st of February, the price stood at Rs.581.70 and rose to touch an all-time high of Rs.627.35 before it declined to end the month at Rs.563.60. On the 1st of March, the price stood at Rs.563.65 and fluctuated during the month to end at Rs.576.95.
- On the 3rd of April, the price of the stock opened for trading at Rs.577.65 and touched Rs.659 on the 17th of the month and closed at Rs.655.90 on the last day. On the 1st of May, the stock price opened at Rs.655.90 and declined to end the month at Rs.583.70. During the month of June, the stock opened for trading at Rs.609.70 and ended the month a little more than 20 points.
- On the 3rd of July, the company’s share price opened for trading at Rs.631.10 and dropped to end the month at Rs.609.45. The stock opened at Rs.605.10 on the 1st of August and remained steady to end the month at Rs.601.55. On the 1st of September, the price stood at Rs.610.45 and inclined to touch Rs.646.55 on the 19th before it declined to touch Rs.590.90 on the last day of the month.
- On the 2nd of October, the stock price closed at Rs.590.90 and dropped by nearly 3 points by the end of the month. In November, the stock price stood at Rs.578.55 on the 1st before it slipped to Rs.552.15 on the last day of the month. On the last month of the year, the stock price opened for trading at Rs.547.15 on the 1st of the month and closed more than 30 points.
Should You Invest in Max Financial Services Ltd.?
- With a market cap of over Rs.12,400 crore, Max Financial Services Ltd operates in the finance sector.
- The company posted a Standalone sales of Rs.128.98 crore during the quarter ended on 30 June 2018, up by 992.13% compared to the previous quarter sales of Rs.11.81 crore and up by 40.73% from previous year’s same quarter sales of Rs.91.65 crore.
- The financial services company reported a net profit after tax of Rs.75.44 crore in the latest quarter.
- For the year ending 31 March 2017, the company’s key revenue segment included income from the dividend of Rs.220.65 crore to the sales value, while income from shared services stood at Rs.21.22 crore, income from the sale of shares and securities stood at Rs.12.91 crore and interest contributed Rs.14 crore to the sales value.
- The stock of the company has performed well in the recent quarter reflecting the leadership team’s commitment towards the success of the organisation.
Max Financial Services Ltd. is engaged in the business of investments and consultancy services to its subsidiaries and conducts its operations mainly through its subsidiary, Max Life Insurance Co. Ltd. Max Life offers nearly 20 products and over seven riders and has a presence in approximately 540 districts of India through its multi-channel distribution that includes Agency distribution, Bancassurance, e-Commerce and Partnership distribution.
Max Financial Services Ltd. was incorporated in 1988. The company was a joint venture by Max India Ltd., Ranbaxy Laboratories Ltd., Montari Industries Ltd. and Punjab State Industrial Development Corporation Ltd. In 2002, the company forayed into the healthcare sector and Max Healthcare was recast as a separate company. In 2010, the company was present in both the life insurance and healthcare sectors. In 2016, the name Max India Ltd. was changed to Max Financial Services Ltd. and the symbol MAX was changed to MFSL.
Management Team of Max Financial Services Ltd.
Mr. Rahul Khosla is the Executive President of Max Financial Services Ltd. and comes with deep management experience developed over a global career of more than three decades. He is also the current President of Max Group in addition to the post of Chairman of the Boards of Max India, Max Life Insurance and Max Healthcare. He is responsible for group strategies, performance, overall management of group capital, corporate governance, human capital, among others. He an Economics graduate from St. Stephen’s College, Delhi and completed his schooling at St. Xavier’s in Delhi. He is also a Fellow Member of the Institute of Chartered Accountants of India.
Mr. Mohit Talwar is the Managing Director of Max Financial Services Ltd. and Max India. He is also the Vice Chairman of Max Ventures and Industries Ltd. and Chairman of Max Speciality Films. In addition, he serves on the Boards of Max Healthcare, Max Life Insurance, Max Bupa and Antara Senior Living. Mr. Talwar has extensive experience in Corporate Finance and Investment Banking and has spent more than 24 years in Wholesale Banking in Standard Chartered, Bank of Nova Scotia and ANZ Grindlays. He has a Post Graduation in Arts and Hospitality Management from St. Stephen’s College and has completed his management studies in Hospitality from the Oberoi School.
Max Financial Services Ltd. in NSE, BSE and Listings
The equity shares of Max Financial Services Ltd. is available for trading in the NSE and BSE, the codes for trading are as follows:
- NSE Code: MFSL
- BSE Code: 500271
- BSE Group: A
- ISIN: INE180A01020
- Sector: Finance - Investments
Max Financial Services Ltd. Stock Indices:
- S&P CNX 500
- CNX Midcap
1, Dr. Jha Marg,
Okhla Phase III,
New Delhi - 110020
Telephone: + 91 11 42598000, + 91 11 26933601-10
fax:+ 91 11 26324126
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