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Max Financial Services Ltd

Updated on October 15, 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₹15,885 Cr.
Current Price ₹574.3 as on 21 Oct 20
52 Week High / Low Price₹641.9 / ₹276.35
Face Value₹2
Stock P/E200.84
Book Value₹84.59
Dividend Yield0.00 %
ROCE18.52 %
ROE12.73 %
Sales Growth (3yrs)24.62 %
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 6.95 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 7.80% for last 3 years. Promoters have pledged 91.52% 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 Finance ₹3,018 41.78 ₹210,170.41 Cr. 0.29 ₹962.32 Cr. -19.49 14.52 6648.20 11.95
2. Bajaj Finserv ₹3,018 26.35 ₹98,511.55 Cr. 0.08 ₹1,215.15 Cr. 43.75 15.63 14189.99 12.65
3. SBI Cards ₹895.3 60.93 ₹75,848.93 Cr. 0.12 ₹393.29 Cr. 13.80 4.06 2152.20 15.18
4. HDFC AMC ₹2,048.75 40.31 ₹51,319.04 Cr. 1.16 ₹302.36 Cr. 3.62 -18.42 411.49 46.82
5. Muthoot Finance ₹1,213.2 13.39 ₹45,993.68 Cr. 1.31 ₹853.51 Cr. 53.46 25.96 2604.48 16.01
6. Bajaj Holdings ₹3,018 9.93 ₹29,812.37 Cr. 1.49 ₹679.13 Cr. 1.47 14.84 90.25 12.16
7. Cholaman.Inv.&Fn 16.27 ₹19,031.2 Cr. 0.73 ₹431.3 Cr. 36.85 3.93 2125.55 10.30
8. Max Financial 200.84 ₹15,884.68 Cr. 0.00 -₹21.89 Cr. -112.76 -95.29 9.24 18.52

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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

Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020
Sales -26131121298176101969802309
YOY Sales Growth %103%27%69%37%-70%34%-16%52%14%-55%2,205%-95%
Expenses -3432262664361202435183231
Employee Cost %83.30%8.65%61.01%9.16%151.87%7.00%405.62%3.89%75.96%6.78%1.35%46.43%
Operating Profit-8100-14103-56140-110172-2663198-21
OPM %-31%76%-120%80%-724%79%-1,099%88%-299%78%86%-231%
Other Income0000000000-00
Interest-0-0-027-0-0-000000
Depreciation000000011181
Profit before tax-899-1575-56140-110172-2762190-22
Tax %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%65%-0%
Net Profit-899-1575-56140-110172-276267-22
EPS in Rs-0.303.71-0.562.81-2.105.21-4.096.37-1.012.292.47-0.81
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 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020TTM
Sales -3493324617421,508990582201256264317495328
Sales Growth %25%-5%39%61%103%-34%-41%-66%27%3%20%56%
Expenses -3763284377088297751118410011823989115
Material Cost %66.93%64.82%60.18%64.95%34.25%52.89%0.00%0.00%0.00%0.00%0.00%0.00%
Manufacturing Cost %12.94%13.78%11.44%11.23%6.21%9.11%0.80%1.72%1.36%1.59%1.25%0.00%
Employee Cost %9.71%10.24%12.08%8.36%5.46%8.04%9.37%16.95%14.87%20.68%24.47%4.62%
Other Cost %18.19%9.92%11.09%10.89%9.04%8.25%8.99%23.07%23.00%22.57%49.67%4.32%
Operating Profit-274243467921547011715514578406213
OPM %-8%1%5%5%45%22%81%58%61%55%25%82%65%
Other Income662623712103010000
Interest161567311722-0-0-0-02700
Depreciation121315232424422221010
Profit before tax103-35-1364918046911515414449396203
Tax %-110%123%-21%-17%14%-3%17%-0%-0%-0%-0%31%
Net Profit22-1-42-155611853911151541444927379
EPS in Rs0.98-0.00-0.00-0.0019.956.9514.674.325.765.361.8310.122.94
Dividend Payout %-0%-0%-0%-0%58%52%34%83%-0%-0%-0%-0%

Compounded Sales Growth

  • 10 Years:: 4.06%
  • 5 Years:: -3.18%
  • 3 Years:: 24.62%
  • TTM:: -15.94%

Compounded Profit Growth

  • 10 Years:: 35.20%
  • 5 Years:: -6.97%
  • 3 Years:: 20.96%
  • TTM:: -45.64%

Return on Equity

  • 10 Years:: 15.73%
  • 5 Years:: 5.89%
  • 3 Years:: -1.27%
  • 1 Year:: 39.45%

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 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Share Capital -444646535353535353545454
Equity Capital444646535353535353545454
Reserves2,0182,1642,1382,8193,0333,1333,4001,6171,7751,8661,9462,226
Borrowings101604624119156181-0-0-0-0-03
Other Liabilities -4113018383149157566929151196243
Trade Payables31245349507311912101410
Advance from Customers01121200000
Other liability items11105129329882456017141181232
Total Liabilities2,2052,9452,9913,0733,3913,5243,5101,7391,8572,0712,1962,526
Fixed Assets -17418432932531330013933313026
Gross Block249.21271.26430.55448.66458.14468.3029.2519.7745.8633.0733.98
Accumulated Depreciation74.9487.12101.17123.75145.59168.2816.1311.0413.211.883.53
CWIP26221012250-0-00-0-0
Investments1,6902,5831,9712,3082,7332,7443,3191,7051,7961,9642,1312,468
Other Assets -3151556914403344551782629753432
Inventories28.0425.4641.5648.5144.9366.150.000.000.000.000.000.00
Trade receivables52.9061.2075.25119.52138.22153.890.009.237.696.6921.8019.25
Cash Equivalents166.3314.44457.69178.167.7012.2463.693.009.782.963.101.94
Loans n Advances86.7474.95130.39103.76144.78116.7129.774.713.3962.747.210.01
Other asset items-18.96-20.60-14.32-9.55-1.41105.7684.458.837.672.761.7010.46
Total Assets2,2052,9452,9913,0733,3913,5243,5101,7391,8572,0712,1962,526

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 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Cash from Operating Activity --159-27-43-212-53117-57160126141396
Profit from operations1213236-64-30108-55-65-77-129-55
Receivables-19-5-14-43-18-160021-153
Inventory-03-16-73-21000000
Payables-7-114-5224-013-24-4
Loans Advances00-388-23-853-8-3010
Other WC items0012-87-137222205280455
Working capital changes-26-4-43-55-29-22561224204270453
Direct taxes-1-0-75-119-1-47-31-1-0-2
Other operating items-0-00000000000
Cash from Investing Activity -384-8841551335715840121-105-161-166-399
Fixed assets purchased-31-21-125-16-24-98-9-0-1-1-1-5
Fixed assets sold000001101000
Investments purchased-2,289-6,314-1,912-1,438-1,765-670-1,992-867-1,057-449-686-540
Investments sold2,6595,4472,5431,1072,0197041,946833952289522334
Interest received63928521400000
Dividends received390007020401670000
Invest in subsidiaries00000000000-190
Other investing items00-360332511680-12-00-01
Cash from Financing Activity --211723-4671-275-102-157-75-4828243
Proceeds from shares0.00236.700.000.000.000.140.060.100.0627.6324.193.45
Proceeds from debentures0.00521.930.000.000.000.000.000.000.000.000.000.00
Proceeds from borrowings1.271.27101.5516.8959.9847.700.000.000.000.000.000.00
Repayment of borrowings-22.05-20.66-81.40-0.45-22.25-23.37-2.070.000.000.000.000.00
Interest paid fin-15.93-10.49-65.68-32.05-15.98-19.980.000.000.000.000.000.00
Dividends paid0.000.000.000.00-265.52-106.38-154.57-74.75-48.070.000.000.00
Other financing items-174.15-5.930.0286.71-31.460.000.000.000.000.000.000.00
Net Cash Flow159-1528341-13031-117-70-0

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Ratios

Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
ROCE %1%-0%1%1%21%6%14%4%9%8%4%19%
Debtor Days556760593357-0171192514
Inventory Turnover9.248.999.0811.6012.1410.330.02

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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.