Nifty

:

24270.85

Sensex

:

77763.91

95.15 (0.39%)
261.79 (0.34%)

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Nifty
Sensex

:
:

24270.85
77763.91

95.15 (0.39%)
261.79 (0.34%)

Max Estates Ltd.

Construction - Real Estate

Rating :

53/99

BSE: 544008 | NSE: MAXESTATES

Watchlist

NSE BSE

432.65

03-Jul-2026

Open
High
Low
Previous Close

427.25
444.5
414.1
421.00

Volume
Traded Value (lacs)
52 Week High
52 Week Low

442860
192140269.85
564.3
305.45

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

7,070.44
450.55
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

7,234.01
N/A
2.92

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

-
-
14.35

EBITDA CAGR (%)

10 Years
5 Years
3 Years

-
-
6.99

PAT CAGR (%)

10 Years
5 Years
3 Years

-
-
28.98

P:E (Median)

8 Years
5 Years
3 Years

-
-
173.86

P:BV (Average)

8 Years
5 Years
3 Years

-
-
3.78

EV:EBITDA (Average)

8 Years
5 Years
3 Years

-
-
90.40

Earnings Forecasts:

(Updated: 27-06-2026)

Description 2026 2027 2028 2029
Adj EPS 318.2 1.57 -0.74 27.4
P/E Ratio 1.36 275.57 -584.66 15.79
Revenue - 215.26 231.2 2128
EBITDA 3671.05 48.38 0.08 603.22
Net Income 1522.2 26.67 -25.3 480.82
ROA 904.2 -0.88 - -
P/B Ratio -0.40 3.05 2.89 2.49
ROE 1.87 -0.2 -1.29 15.09
FCFF 33.16 -667.97 -691.91 648.05
FCFF Yield 5281.64 -6.92 -7.16 6.71
Net Debt 54.69 663.85 1351.8 2327.17
BVPS -1072.9 141.85 149.76 173.56

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 14.21 10.82 31.33% 13.45 7.99 68.34% 14.09 7.48 88.37% 13.72 14.81 -7.36%
Expenses 21.14 14.65 44.30% 17.74 14.24 24.58% 19.07 10.62 79.57% 15.13 12.73 18.85%
EBITDA -6.93 -3.83 - -4.29 -6.26 - -4.98 -3.14 - -1.41 2.08 -
EBIDTM -48.78% -35.34% -31.87% -78.36% -35.32% -41.95% -10.26% 14.06%
Other Income 27.35 29.43 -7.07% 28.93 31.20 -7.28% 26.96 291.60 -90.75% 43.56 13.73 217.26%
Interest 1.86 1.43 30.07% 1.28 1.26 1.59% 1.36 1.51 -9.93% 1.41 4.65 -69.68%
Depreciation 1.85 1.63 13.50% 1.62 1.65 -1.82% 1.61 1.80 -10.56% 1.82 1.88 -3.19%
PBT 16.70 22.55 -25.94% 21.74 22.03 -1.32% 19.02 285.14 -93.33% 38.93 9.28 319.50%
Tax 8.74 7.38 18.43% 6.88 5.22 31.80% 7.50 43.63 -82.81% 9.67 1.88 414.36%
PAT 7.96 15.17 -47.53% 14.87 16.81 -11.54% 11.52 241.52 -95.23% 29.25 7.41 294.74%
PATM 56.03% 140.13% 110.52% 210.46% 81.73% 3,228.86% 213.25% 50.02%
EPS 0.49 0.93 -47.31% 0.91 1.03 -11.65% 0.70 14.78 -95.26% 1.79 0.45 297.78%

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 49.43 39.78 24.26% 49.77 40.04 24.30% 48.77 40.18 21.38% 51.47 40.49 27.12%
Expenses 52.64 30.73 71.30% 46.84 28.47 64.52% 38.69 31.64 22.28% 37.56 25.26 48.69%
EBITDA -3.20 9.06 - 2.93 11.57 -74.68% 10.09 8.54 18.15% 13.92 15.23 -8.60%
EBIDTM -6.48% 22.77% 5.88% 28.89% 20.68% 21.25% 27.04% 37.62%
Other Income 21.15 37.52 -43.63% 21.68 31.85 -31.93% 25.86 12.60 105.24% 28.66 7.21 297.50%
Interest 16.19 16.55 -2.18% 15.63 14.83 5.39% 16.28 13.94 16.79% 17.32 16.55 4.65%
Depreciation 7.93 8.76 -9.47% 8.02 8.16 -1.72% 8.04 8.41 -4.40% 8.41 8.77 -4.10%
PBT -6.17 21.27 - 0.96 20.43 -95.30% 11.63 -1.21 - 16.84 -2.88 -
Tax -2.09 7.28 - 0.93 4.62 -79.87% 3.82 0.17 2,147.06% 4.90 -0.88 -
PAT -4.08 13.99 - 0.02 15.81 -99.87% 7.81 -1.38 - 11.93 -2.00 -
PATM -8.25% 35.17% 0.05% 39.50% 16.02% -3.44% 23.18% -4.93%
EPS -0.25 0.87 - 0.00 0.98 -100.00% 0.45 0.13 246.15% 0.71 0.11 545.45%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 25 Mar 24 Mar 23
Net Sales 55.47 41.10 29.37 49.29 Net Sales Growth 34.96% 39.94% -40.41% Cost Of Goods Sold 0.00 1.87 0.00 11.39 Gross Profit 55.47 39.23 29.37 37.90 GP Margin 100.00% 95.45% 100% 76.89% Total Expenditure 73.08 52.24 39.36 49.11 Power & Fuel Cost - 0.00 0.00 0.00 % Of Sales - 0% 0% 0% Employee Cost - 22.12 16.44 17.51 % Of Sales - 53.82% 55.98% 35.52% Manufacturing Exp. - 9.11 6.23 2.18 % Of Sales - 22.17% 21.21% 4.42% General & Admin Exp. - 16.78 13.70 15.14 % Of Sales - 40.83% 46.65% 30.72% Selling & Distn. Exp. - 1.04 1.90 1.40 % Of Sales - 2.53% 6.47% 2.84% Miscellaneous Exp. - 1.32 1.08 1.50 % Of Sales - 3.21% 3.68% 3.04% EBITDA -17.61 -11.14 -9.99 0.18 EBITDA Margin -31.75% -27.10% -34.01% 0.37% Other Income 126.80 365.95 47.00 49.56 Interest 5.91 8.85 14.11 11.33 Depreciation 6.90 6.96 5.26 5.14 PBT 96.39 339.01 17.64 33.27 Tax 32.79 58.11 -5.68 0.52 Tax Rate 34.02% 17.14% -32.20% 1.56% PAT 63.60 280.90 23.32 32.75 PAT before Minority Interest 63.60 280.90 23.32 32.75 Minority Interest 0.00 0.00 0.00 0.00 PAT Margin 114.66% 683.45% 79.40% 66.44% PAT Growth -77.36% 1,104.55% -28.79% EPS 3.89 17.19 1.43 2.00

Description TTM Mar 25 Mar 24 Mar 23
Net Sales 199.44 160.49 92.94 107.34 Net Sales Growth 24.27% 72.68% -13.42% Cost Of Goods Sold 3.83 4.55 0.00 21.55 Gross Profit 195.61 155.94 92.94 85.80 GP Margin 98.08% 97.16% 100% 79.93% Total Expenditure 175.73 116.09 75.17 75.67 Power & Fuel Cost - 5.76 3.40 2.51 % Of Sales - 3.59% 3.66% 2.34% Employee Cost - 17.63 12.28 15.38 % Of Sales - 10.99% 13.21% 14.33% Manufacturing Exp. - 8.13 6.65 2.59 % Of Sales - 5.07% 7.16% 2.41% General & Admin Exp. - 37.68 26.93 27.37 % Of Sales - 23.48% 28.98% 25.50% Selling & Distn. Exp. - 38.39 22.59 4.07 % Of Sales - 23.92% 24.31% 3.79% Miscellaneous Exp. - 3.95 3.32 2.21 % Of Sales - 2.46% 3.57% 2.06% EBITDA 23.74 44.40 17.77 31.67 EBITDA Margin 11.90% 27.67% 19.12% 29.50% Other Income 97.35 89.19 27.33 23.94 Interest 65.42 61.87 42.99 18.62 Depreciation 32.40 34.10 25.40 14.91 PBT 23.26 37.62 -23.29 22.08 Tax 7.56 11.19 -12.62 3.62 Tax Rate 32.50% 29.74% 18.63% 16.39% PAT 15.68 40.81 -42.16 19.02 PAT before Minority Interest 14.64 26.43 -55.12 18.47 Minority Interest -1.04 14.38 12.96 0.55 PAT Margin 7.86% 25.43% -45.36% 17.72% PAT Growth -40.65% - - EPS 0.96 2.50 -2.58 1.16

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23
Shareholder's Funds 2,360.94 1,259.14 1,233.61 Share Capital 161.00 147.13 0.00 Total Reserves 2,158.13 1,107.67 1,084.22 Non-Current Liabilities 94.51 181.33 145.75 Secured Loans 0.10 91.62 97.32 Unsecured Loans 0.00 0.00 0.00 Long Term Provisions 1.48 1.16 1.19 Current Liabilities 34.99 88.94 89.47 Trade Payables 6.86 3.88 9.77 Other Current Liabilities 15.87 21.59 12.35 Short Term Borrowings 10.50 62.17 65.37 Short Term Provisions 1.76 1.31 1.97 Total Liabilities 2,490.44 1,529.41 1,468.83 Net Block 15.64 20.48 22.17 Gross Block 27.38 26.31 24.38 Accumulated Depreciation 11.74 5.83 2.22 Non Current Assets 1,195.13 1,289.63 1,154.82 Capital Work in Progress 0.00 0.27 0.00 Non Current Investment 1,134.64 1,146.81 1,005.09 Long Term Loans & Adv. 7.65 12.58 9.44 Other Non Current Assets 37.20 40.18 47.70 Current Assets 1,295.30 239.78 314.01 Current Investments 355.78 4.12 104.15 Inventories 0.00 1.94 1.95 Sundry Debtors 21.07 11.02 3.94 Cash & Bank 327.13 18.61 15.45 Other Current Assets 591.30 11.87 6.67 Short Term Loans & Adv. 572.18 192.21 181.85 Net Current Assets 1,260.31 150.84 224.55 Total Assets 2,490.43 1,529.41 1,468.83

Description Mar 25 Mar 24 Mar 23
Shareholder's Funds 2,278.47 1,170.90 1,211.20 Share Capital 161.00 147.13 0.00 Total Reserves 2,076.10 1,019.88 1,061.93 Non-Current Liabilities 2,389.77 943.46 823.61 Secured Loans 1,239.18 647.52 673.32 Unsecured Loans 230.48 215.16 77.49 Long Term Provisions 3.84 2.80 1.69 Current Liabilities 2,107.16 642.53 129.72 Trade Payables 453.12 33.39 27.04 Other Current Liabilities 1,648.95 605.17 37.58 Short Term Borrowings 0.00 0.00 62.59 Short Term Provisions 5.10 3.97 2.52 Total Liabilities 7,157.87 3,036.52 2,207.20 Net Block 18.38 22.04 22.33 Gross Block 31.59 28.98 25.48 Accumulated Depreciation 13.21 6.93 3.15 Non Current Assets 2,939.72 2,042.63 1,638.24 Capital Work in Progress 0.00 0.27 0.00 Non Current Investment 5.12 2.69 53.63 Long Term Loans & Adv. 556.24 97.75 122.16 Other Non Current Assets 331.55 116.08 35.03 Current Assets 4,218.15 993.90 568.96 Current Investments 582.01 89.96 105.96 Inventories 2,285.00 532.87 386.92 Sundry Debtors 14.50 8.01 5.78 Cash & Bank 1,083.36 263.52 41.37 Other Current Assets 253.27 24.32 8.66 Short Term Loans & Adv. 227.71 75.21 20.27 Net Current Assets 2,110.99 351.37 439.24 Total Assets 7,157.87 3,036.53 2,207.20

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23
Cash From Operating Activity -48.71 -36.34 -19.77 PBT 339.01 17.64 33.27 Adjustment -346.99 -27.16 -31.44 Changes in Working Capital 1.36 -21.72 0.86 Cash after chg. in Working capital -6.62 -31.24 2.69 Interest Paid 0.00 0.00 0.00 Tax Paid -42.08 -5.11 -22.45 Other Direct Exp. Paid 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 Cash From Investing Activity -606.13 60.43 -106.03 Net Fixed Assets -0.80 -2.20 Net Investments -339.49 -41.69 Others -265.84 104.32 Cash from Financing Activity 654.29 -24.15 125.26 Net Cash Inflow / Outflow -0.55 -0.05 -0.54 Opening Cash & Equivalents 1.50 1.56 0.56 Closing Cash & Equivalent 0.96 1.50 1.56

Description Mar 25 Mar 24 Mar 23
Cash From Operating Activity 225.00 270.70 -456.35 PBT 37.62 -67.74 22.08 Adjustment 10.46 87.01 19.18 Changes in Working Capital 248.85 257.72 -465.37 Cash after chg. in Working capital 296.94 276.99 -424.11 Interest Paid 0.00 0.00 0.00 Tax Paid -71.93 -6.29 -32.25 Other Direct Exp. Paid 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 Cash From Investing Activity -1,993.08 -291.66 -52.14 Net Fixed Assets -0.80 -2.20 Net Investments -339.49 -41.69 Others -1,652.79 -247.77 Cash from Financing Activity 1,766.36 234.07 521.29 Net Cash Inflow / Outflow -1.72 213.11 12.79 Opening Cash & Equivalents 230.74 17.63 4.83 Closing Cash & Equivalent 229.02 230.74 17.63

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23
Book Value (Rs.) 144.04 85.28 0.00 ROA 13.98% 1.56% 2.23% ROE 15.72% 1.99% 3.02% ROCE 18.35% 2.25% 3.18% Fixed Asset Turnover 1.53 1.16 2.02 Receivable days 142.52 92.96 29.18 Inventory Days 0.00 24.21 14.45 Payable days 1049.54 0.00 313.20 Cash Conversion Cycle -907.02 117.16 -269.57 Total Debt/Equity 0.00 0.13 0.16 Interest Cover 39.32 2.25 3.94

Description Mar 25 Mar 24 Mar 23
Book Value (Rs.) 138.95 79.32 0.00 ROA 0.52% -2.10% 0.84% ROE 1.55% -4.95% 1.74% ROCE 3.31% -1.19% 2.00% Fixed Asset Turnover 5.30 3.41 4.21 Receivable days 25.61 27.09 19.66 Inventory Days 3204.38 1806.06 1315.66 Payable days 0.00 0.00 458.03 Cash Conversion Cycle 3229.98 1833.15 877.28 Total Debt/Equity 0.72 0.81 0.78 Interest Cover 1.61 -0.58 2.19

Top Investors:

new york life international holdings ltd

invesco india business cycle fund

nippon life india trustee ltd-a/c nippon india multi asset allocation fund

india insight value fund

atul behari lall

kotak small cap fund

habrok india master lp

new york life insurance company

bandhan nifty total market index fund

Annual Reports:

News Update:

Max Estates launches ‘The Terraces’ residential project in Gurugram
13th May 2026, 17:50 PM

The Terraces offers 1.5 & 2-bedroom smart homes and duplex loft residences
Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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