MAXIMUS
Maximus International financials
- Market cap
- ₹136 Cr
Quarterly results
Q1 FY27: revenue up 51.6%, net profit down 12.0% 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 | 36 | 37 | 45 | 40 | 46 +28% | 43 +18% | 56 +25% | 60 +52% |
| EBITDA | 3 | 4 | 3 | 4 | 4 +3% | 3 −15% | 3 +3% | 4 +20% |
| Net profit | 2 | 3 | 2 | 2 | 3 +30% | 2 −30% | 2 +8% | 2 −12% |
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.
Performance +27.1% 1Y
1Y: ₹11.53 on 10 Sept 2025 → ₹14.65. High ₹15 (28 Aug 2026), low ₹8.96 (11 Mar 2026).
Financials, as filed
Revenue grew 30.3% a year over 2 years, FY24 to FY26. Operating margin held at 7.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹109 Cr | ₹157 Cr | ₹185 Cr |
| Operating profit | ₹8 Cr | ₹13 Cr | ₹14 Cr |
| Operating margin | 7.1% | 8.5% | 7.3% |
| Interest | ₹2 Cr | ₹3 Cr | ₹4 Cr |
| Depreciation | ₹1 Cr | ₹2 Cr | ₹2 Cr |
| Net profit | ₹8 Cr | ₹9 Cr | ₹9 Cr |
| Net margin | 7.3% | 5.8% | 5.0% |
| Cash from operations | ₹-8 Cr | ₹-15 Cr | ₹-8 Cr |
| Free cash flow | ₹-10 Cr | ₹-20 Cr | ₹-12 Cr |
| ROCE | 18.0% | 16.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹9 Cr | ₹14 Cr | ₹19 Cr | ₹28 Cr | ₹66 Cr | ₹73 Cr |
| Borrowings | ₹7 Cr | ₹7 Cr | ₹9 Cr | ₹18 Cr | ₹28 Cr | ₹39 Cr |
| Other liabilities | ₹18 Cr | ₹22 Cr | ₹36 Cr | ₹24 Cr | ₹40 Cr | ₹53 Cr |
| Total liabilities | ₹46 Cr | ₹54 Cr | ₹77 Cr | ₹82 Cr | ₹148 Cr | ₹180 Cr |
| Fixed assets | ₹11 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹12 Cr | ₹18 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹4 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹33 Cr | ₹44 Cr | ₹67 Cr | ₹71 Cr | ₹131 Cr | ₹162 Cr |
| Total assets | ₹46 Cr | ₹54 Cr | ₹77 Cr | ₹82 Cr | ₹148 Cr | ₹180 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 13% to 32,036.
- Promoters
- 57.6%
- Public
- 42.4%
Since Jun 2025
- Promoters 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Over this window promoters fell from 62.6% to 57.6% — −5.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 62.6%, Public 37.4%.Dec '23: Promoters 62.3%, Public 37.7%.Mar '24: Promoters 62.3%, Public 37.7%.Jun '24: Promoters 61.5%, Public 38.5%.Sep '24: Promoters 61.5%, Public 38.5%.Dec '24: Promoters 57.6%, Public 42.4%.Mar '25: Promoters 57.6%, Public 42.4%.Jun '25: Promoters 57.6%, Public 42.4%.Sep '25: Promoters 57.6%, Public 42.4%.Dec '25: Promoters 57.6%, Public 42.4%.Mar '26: Promoters 57.6%, Public 42.4%.Jun '26: Promoters 57.6%, Public 42.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Emrald Commercial Limited +0.35 pp 4.08% held
- Aryaman Capital Markets Limited Corporate +0.26 pp 3.96% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Maximus International Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Optimus Finance Limited | 57.58% | unchanged |
| Emrald Commercial Limited | 4.08% | +0.35 pp |
| Aryaman Capital Markets Limited Corporate | 3.96% | +0.26 pp |
| Arnav Financial Services Private Limited | 3.67% | unchanged |
| Nayan Mulchand Gosalia | 1.61% | unchanged |
| Mukesh Commercial Private Limited | 1.46% | unchanged |
| Franklin Leasing And Finance Limited | 1.40% | unchanged |
| Escorp Asset Management Limited | 1.29% | unchanged |
| Pankaj Kanaiyalal Parikh | 0.00% | unchanged |
| Gaurang Ramniklal Sanghavi | 0.00% | unchanged |
| Sonal Deepak Sadarangani | 0.00% | unchanged |
| Paresh P Thakkar | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Maximus International Limited
Guides on how to read this kind of business and the numbers that matter.