Max Financial Services balance sheet

As of Sep 2026

Total assets: ₹2,12,718cr+8.0% on Sep 2025
Shareholders' equity: ₹7,036cr+9.1% on Sep 2025
Total debt: ₹2,013cr+10.1% on Sep 2025
Cash and investments: ₹515cr−2.7% on Sep 2025

₹ crore except per share

Tap a line for its trend	H1 FY27Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Current assets
Non-current assets						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	0.9	1.0	1.6	1.1	1.9
	80.0	80.8	82.3	83.8	85.3
	525	525	525	525	525
	0.0	0.2	0.0	0.4	2.0
	27.4	28.7	0.0	2.3	3.9
	0.0	0.0	0.0	0.1	0.0
	515	2,137	1,071	858	987
	0.0	0.0	52.9	47.8	57.5
	2,12,718	1,98,936	1,89,999	1,62,773	1,31,824
Equity
	68.7	68.7	68.7	68.7	68.7
	5,649	5,213	5,206	3,797	3,450
	5,718	5,282	5,275	—	—
	1,318	1,138	1,129	—	—
	7,036	6,420	6,403	4,370	3,969
Liabilities
	0.0	0.0	11.2	5.9	0.0
	9.5	7.1	2.8	0.0	0.0
	2,05,682	1,92,516	1,83,595	—	—
	2,12,718	1,98,936	1,89,999	1,62,773	1,31,824
Assets — additional as-filed lines
	7.8	10.0	0.0	17.6	15.8
	2,10,195	1,96,408	1,87,610	1,60,437	1,29,612
	1,98,787	1,84,555	1,77,351	1,53,651	1,23,137
	2,523	2,527	2,389	2,336	2,212
	1,882	1,881	1,780	1,706	1,578
Liabilities — additional as-filed lines
	2,04,830	1,91,275	1,82,399	1,57,516	1,27,013
	2,00,633	1,86,821	1,79,557	1,55,535	1,26,459
	852	1,240	1,196	887	843
	718	1,067	1,112	823	832
	2,013	1,858	1,025	521	521
	124	166	70.7	58.7	10.6
Trade payables — MSME split
	3.0	5.4	0.5	0.2	0.4
	2,181	2,590	1,816	1,460	32.1

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

MFSL₹1,212.00

Max Financial Services Ltd.

· Banking & Finance

₹ CrorePeersHDFCLIFE SBILIFE ICICIPRULI INDIANB IDFCFIRSTB ICICIGI FEDERALBNK PAYTMMcap ₹41,608 Cr

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In ₹ Crore except Per Share As of	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Non-current Assets
+ Property, Plant & Equipment	1.9	1.1	1.6	1.0	0.9
+ Investment Property	85.3	83.8	82.3	80.8	80.0
+ Goodwill	525.3	525.3	525.3	525.3	525.3
+ Other Intangibles	2.0	0.4	0.0	0.2	0.0
+ Deferred Tax Assets	3.9	2.3	0.0	28.7	27.4
Current Assets
+ Trade Receivables	0.0	0.1	0.0	0.0	0.0
+ Cash & Cash Equivalents	987.0	858.1	1,070.6	2,137.2	515.2
+ Other Bank Balances	57.5	47.8	52.9	0.0	0.0
Total Assets	1,31,823.8	1,62,773.5	1,89,998.7	1,98,935.6	2,12,718.1
Equity
+ Equity Share Capital	68.7	68.7	68.7	68.7	68.7
+ Other Equity / Reserves	3,449.5	3,797.2	5,205.8	5,213.1	5,649.5
Equity — Owners of Parent	—	—	5,274.5	5,281.8	5,718.2
+ Minority Interest	—	—	1,128.7	1,138.2	1,317.6
Total Equity	3,968.5	4,369.5	6,403.2	6,420.0	7,035.8
Liabilities
+ Deferred Tax Liabilities	0.0	5.9	11.2	0.0	0.0
+ Current Tax Liabilities	0.0	0.0	2.8	7.1	9.5
Total Liabilities	—	—	1,83,595.4	1,92,515.6	2,05,682.3
Total Equity & Liabilities	1,31,823.8	1,62,773.5	1,89,998.7	1,98,935.6	2,12,718.1
Assets — additional as-filed lines
+ Current Tax Assets (net)	15.8	17.6	0.0	10.0	7.8
+ Financial Assets	1,29,612.2	1,60,437.2	1,87,609.6	1,96,408.2	2,10,195.0
+ Other Financial Assets	1,23,136.9	1,53,650.6	1,77,350.8	1,84,555.5	1,98,786.6
+ Non-financial Assets	2,211.6	2,336.3	2,389.1	2,527.3	2,523.1
+ Other Non-financial Assets	1,577.5	1,705.8	1,780.0	1,881.5	1,881.7
Liabilities — additional as-filed lines
+ Financial Liabilities	1,27,012.6	1,57,516.5	1,82,399.2	1,91,275.1	2,04,830.0
+ Other Financial Liabilities	1,26,459.4	1,55,535.3	1,79,557.4	1,86,821.4	2,00,632.6
+ Non-financial Liabilities	842.7	887.5	1,196.3	1,240.4	852.3
+ Other Non-financial Liabilities	832.1	822.9	1,111.6	1,067.0	718.4
+ Debt Securities	520.7	520.7	1,025.5	1,858.4	2,013.4
+ Provisions	10.6	58.7	70.7	166.3	124.4
Trade Payables — MSME split
+ Dues to Micro & Small Enterprises	0.4	0.2	0.5	5.4	3.0
+ Dues to Other Creditors	32.1	1,460.3	1,815.9	2,590.0	2,181.0
Other Filed Concepts — mapped but not yet placed in the schedule
Investments	5,430.9	5,880.7	9,135.3	9,715.6	10,893.3

As filed, sign as filed — read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown, so depth follows the filer: pre-Ind-AS, insurance and NBFC blocks stay hidden unless they were actually reported. Alternate tags for the same idea (e.g. two spellings of a deferred-tax element) are kept as separate lines rather than merged, because merging them would be a guess. Ratios, per-share figures and counts render as raw numbers, not ₹ Crore. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.