MFSL Max Financial Services Q1 FY27 results (Apr–Jun 2026) and concall
Max Financial Services Limited delivered a strong Q1 FY27, with individual adjusted first year premium growing 17% and APE up 15%. VNB margins expanded significantly to 23.2%, leading to 33% VNB growth, and consolidated PAT reached INR180 crore. The company's solvency ratio remains robust at 198% following a capital infusion from Axis Bank, and AUM grew 11% to INR 2.03 lakh crore. While offline proprietary sales saw slower growth due to specific cancellations, the company remains focused on strategic priorities and operational efficiency.
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What they filed
Q1 FY27: revenue up 2.0%, net profit up 129.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 4 | 4 | 3 | 3 −22% | 3 −32% | 17 +355% | 3 +2% |
| EBITDA | -2 | -2 | -2 | -2 | -3 −41% | -3 −87% | 12 +601% | -2 +23% |
| Net profit | -2 | -2 | -3 | -3 | -3 −38% | 2 +205% | 10 +493% | 1 +129% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
