Max Financial Services DuPont analysis

Profitability Growth Credit Liquidity Working capital Dividend yield DuPont CAGR

Per cent unless marked ×

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

5-step DuPont — ROE = tax burden × interest burden × EBIT margin × turnover × leverage						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	0.90×	0.88×	0.90×	0.95×	0.86×
	0.69×	0.57×	0.96×	1.00×	0.97×
	0.7%	0.4%	1.0%	0.9%	1.7%
	0.25×	0.25×	0.26×	0.32×	0.25×
	30.23×	30.99×	29.67×	37.25×	33.22×
	3.4%	1.7%	6.7%	10.0%	11.9%
	1.6%	1.6%	6.8%	8.2%	9.6%

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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

Profitability Growth Credit Liquidity Working Capital Yield Analysis DuPont

Ratios — % unless marked × 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
5-Step DuPont — ROE = Tax Burden × Interest Burden × EBIT Margin × Turnover × Leverage
Tax Burden (Net Income/Pretax) ×	0.86	0.95	0.90	0.88	0.90
Interest Burden (Pretax/EBIT) ×	0.97	1.00	0.96	0.57	0.69
EBIT Margin %	1.74	0.89	1.01	0.44	0.72
Asset Turnover ×	0.25	0.32	0.26	0.25	0.25
Financial Leverage (Assets/Equity) ×	33.22	37.25	29.67	30.99	30.23
ROE (5-step product, year-end total equity) %	11.95	10.05	6.70	1.72	3.39
ROE (owners' profit / average owners' equity) %	9.58	8.16	6.79	1.59	1.59

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%.