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Max Financial Services Ltd

Updated on July 3, 2020

Stock/Share Code - MFSL

Max Financial Services is primarily engaged in making business investments in its subsidiary and providing management advisory services to the group companies.

Below is the details of MFSL Max Financial Services Ltd

Market Cap₹12,949 Cr.
Current Price ₹560.1 as on 9 Jul 20
52 Week High / Low Price₹611.9 / ₹276.35
Face Value₹2
Stock P/E47.51
Book Value₹84.59
Dividend Yield0.00 %
ROCE3.92 %
ROE2.53 %
Sales Growth (3yrs)16.48 %
SectorFinance
IndustryFinance & Investments
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company is virtually debt free. Company is expected to give good quarter
Cons: Stock is trading at 5.68 times its book value Though the company is reporting repeated profits, it is not paying out dividend Promoter holding is low: 28.31% Company has a low return on equity of 6.23% for last 3 years. Promoters have pledged 94.76% of their holding.

Max Financial Services Ltd Price Chart

Max Financial Services Ltd Price Chart

Max Financial Services Ltd Peer Comparison in Finance

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Bajaj Fin. ₹2,882 24.08 ₹117,548.98 Cr. 0.51 ₹891.57 Cr. -19.94 33.45 6511.09 13.02
2. Bajaj Finserv ₹2,882 20.81 ₹70,098.38 Cr. 0.11 ₹194.43 Cr. -76.82 2.31 13294.25 14.02
3. HDFC AMC ₹1,941.85 42.56 ₹53,722.5 Cr. 0.95 ₹249.83 Cr. -9.54 -2.13 476.13 51.64
4. SBI Cards ₹698.15 58.65 ₹50,595.69 Cr. 0.19 ₹83.54 Cr. -66.41 22.69 2433.24 15.15
5. Muthoot Finance ₹1,088.1 12.80 ₹34,595.48 Cr. 1.74 ₹803.41 Cr. 65.57 34.57 2310.00 16.22
6. Bajaj Holdings ₹2,882 7.44 ₹22,264.68 Cr. 2.00 ₹361.41 Cr. -54.34 33.05 110.46 12.16
7. Nippon Life Ind. ₹346.35 37.89 ₹15,621.09 Cr. 2.35 ₹11.88 Cr. -91.80 -21.43 254.51 28.19
8. Max Financial 47.51 ₹12,949.01 Cr. 0.00 ₹66.53 Cr. 160.69 2204.91 229.80 3.92

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Max Financial Services Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020
Sales -942613112129817610196980230
YOY Sales Growth %-29%103%27%69%37%-70%34%-16%52%14%-55%2,205%
Expenses -2634322626643612024351832
Employee Cost %14.05%83.30%8.65%61.01%9.16%151.87%7.00%405.62%3.89%75.96%6.78%1.35%
Operating Profit68-8100-14103-56140-110172-2663198
OPM %72%-31%76%-120%80%-724%79%-1,099%88%-299%78%86%
Other Income000000000000
Interest0000270000000
Depreciation000000001118
Profit before tax67-899-1575-56140-110172-2762190
Tax %0%-0%0%-0%0%-0%0%-0%0%-0%0%65%
Net Profit67-899-1575-56140-110172-276267
EPS in Rs2.51-0.303.71-0.562.81-2.105.21-4.096.37-1.012.292.47
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019TTM
Sales -2783493324617421,508990582201256264317515
Sales Growth %82.22%25.36%-4.76%38.72%60.95%103.20%-34.35%-41.23%-65.50%27.39%3.14%20.29%
Expenses -27937632843770882977511184100118239109
Material Cost %66.86%66.93%64.82%60.18%64.95%34.25%52.89%0.00%0.00%0.00%0.00%0.00%
Manufacturing Cost %13.75%12.94%13.78%11.44%11.23%6.21%9.11%0.80%1.72%1.36%1.59%1.25%
Employee Cost %8.67%9.71%10.24%12.08%8.36%5.46%8.04%9.37%16.95%14.87%20.68%24.47%
Other Cost %10.94%18.19%9.92%11.09%10.89%9.04%8.25%8.99%23.07%23.00%22.57%49.67%
Operating Profit-1-274243467921547011715514578406
OPM %-0%-8%1%5%5%45%22%81%58%61%55%25%79%
Other Income9266262371210301000
Interest151615673117220000270
Depreciation111213152324244222210
Profit before tax65103-35-1364918046911515414449396
Tax %5%-110%123%-21%-17%14%-3%17%0%0%0%0%
Net Profit6222-1-42-1556118539111515414449273
EPS in Rs2.790.980.000.000.0019.956.9514.674.325.765.361.8310.12
Dividend Payout %0%0%-0%-0%-0%58%52%34%83%0%0%0%

Compounded Sales Growth

  • 10 Years:: -0.95%
  • 5 Years:: -20.35%
  • 3 Years:: 16.48%
  • TTM:: 59.38%

Compounded Profit Growth

  • 10 Years:: 8.38%
  • 5 Years:: -23.20%
  • 3 Years:: -24.50%
  • TTM:: 451.92%

Return on Equity

  • 10 Years:: 13.11%
  • 5 Years:: 2.69%
  • 3 Years:: -8.14%
  • 1 Year:: 6.72%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Share Capital -44444646535353535353545454
Equity Capital44444646535353535353545454
Reserves1,9992,0182,1642,1382,8193,0333,1333,4001,6171,7751,8661,9462,226
Borrowings296101604624119156181000003
Other Liabilities -614113018383149157566929151196243
Trade Payables3731245349507311912101410
Advance from Customers001121200000
Other liability items2311105129329882456017141181232
Total Liabilities2,4012,2052,9452,9913,0733,3913,5243,5101,7391,8572,0712,1962,526
Fixed Assets -17417418432932531330013933313026
Gross Block237.55249.21271.26430.55448.66458.14468.3029.2519.7745.8633.0733.98
Accumulated Depreciation63.4774.9487.12101.17123.75145.59168.2816.1311.0413.211.883.53
CWIP52622101225000000
Investments2,0651,6902,5831,9712,3082,7332,7443,3191,7051,7961,9642,1312,468
Other Assets -1573151556914403344551782629753432
Inventories27.6128.0425.4641.5648.5144.9366.150.000.000.000.000.000.00
Trade receivables61.5252.9061.2075.25119.52138.22153.890.009.237.696.6921.8019.25
Cash Equivalents7.57166.3314.44457.69178.167.7012.2463.693.009.782.963.101.94
Loans n Advances57.5186.7474.95130.39103.76144.78116.7129.774.713.3962.747.210.01
Other asset items2.71-18.96-20.60-14.32-9.55-1.41105.7684.458.837.672.761.7010.46
Total Assets2,4012,2052,9452,9913,0733,3913,5243,5101,7391,8572,0712,1962,526

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Cash from Operating Activity --18-159-27-43-212-53117-57160126141
Profit from operations271213236-64-30108-55-65-77-129
Receivables-43-19-5-14-43-18-160021-15
Inventory-14-03-16-73-2100000
Payables14-7-114-5224-013-24
Loans Advances000-388-23-853-8-301
Direct taxes-2-1-0-75-119-1-47-31-1-0
Other operating items-0-0-012-87-137222205280
Cash from Investing Activity --968384-8841551335715840121-105-161-166
Fixed assets purchased-31-31-21-125-16-24-98-9-0-1-1-1
Fixed assets sold000000110100
Investments purchased-3,936-2,289-6,314-1,912-1,438-1,765-670-1,992-867-1,057-449-686
Investments sold2,9302,6595,4472,5431,1072,0197041,946833952289522
Interest received16392852140000
Dividends received6739000702040167000
Other investing items000-360332511680-12-00-0
Cash from Financing Activity -986-211723-4671-275-102-157-75-482824
Proceeds from shares1,000.000.00236.700.000.000.000.140.060.100.0627.6324.19
Proceeds from debentures0.000.00521.930.000.000.000.000.000.000.000.000.00
Proceeds from borrowings33.001.271.27101.5516.8959.9847.700.000.000.000.000.00
Repayment of borrowings-12.27-22.05-20.66-81.40-0.45-22.25-23.37-2.070.000.000.000.00
Investment subsidy0.500.000.000.000.000.000.000.000.000.000.000.00
Interest paid fin-14.37-15.93-10.49-65.68-32.05-15.98-19.980.000.000.000.000.00
Dividends paid0.000.000.000.000.00-265.52-106.38-154.57-74.75-48.070.000.00
Other financing items-20.66-174.15-5.930.0286.71-31.460.000.000.000.000.000.00
Net Cash Flow-1159-1528341-13031-117-70

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Ratios

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
ROCE %4%1%-0%1%1%21%6%14%4%9%8%4%
Debtor Days8155676059335701711925
Inventory Turnover13.6012.5412.4313.7616.4832.2717.8217.59

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.