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Nifty
Sensex

:
:

25330.25
82693.71

91.15 (0.36%)
313.02 (0.38%)

Max India Ltd.

Finance - Investment

Rating :

58/99

BSE: 543223 | NSE: MAXIND

Watchlist

NSE BSE

213.41

17-Sep-2025

Open
High
Low
Previous Close

215
217.36
212.1
216.34

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

35589
7625350.86
302.94
159.65

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

1,111.26
N/A
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

1,003.16
N/A
2.48

Chart

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

Revenue CAGR (%)

10 Years
5 Years
3 Years

-
3.78
-10.22

EBITDA CAGR (%)

10 Years
5 Years
3 Years

-
32.80
-

PAT CAGR (%)

10 Years
5 Years
3 Years

-
21.81
138.26

P:E (Median)

8 Years
5 Years
3 Years

-
-
-

P:BV (Average)

8 Years
5 Years
3 Years

-
-
1.69

EV:EBITDA (Average)

8 Years
5 Years
3 Years

-
-
-71.51

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 2.85 5.83 -51.11% 3.30 7.72 -57.25% 4.59 7.58 -39.45% 5.41 7.68 -29.56%
Expenses 4.19 5.54 -24.37% 5.99 7.99 -25.03% 4.99 6.71 -25.63% 5.20 5.83 -10.81%
EBITDA -1.34 0.29 - -2.69 -0.27 - -0.40 0.87 - 0.21 1.85 -88.65%
EBIDTM -47.02% 4.97% -81.52% -3.50% -8.71% 11.48% 3.88% 24.09%
Other Income 0.68 1.35 -49.63% 0.15 0.02 650.00% 0.07 0.17 -58.82% 0.09 0.05 80.00%
Interest 0.83 0.20 315.00% 0.20 0.21 -4.76% 0.20 0.26 -23.08% 0.20 0.05 300.00%
Depreciation 0.38 0.78 -51.28% 0.38 0.72 -47.22% 0.80 0.75 6.67% 0.82 0.60 36.67%
PBT 6.01 0.71 746.48% -3.12 -8.58 - -1.33 7.31 - -0.72 1.25 -
Tax 0.30 -0.22 - 0.27 -0.34 - -0.38 -0.05 - 0.02 0.45 -95.56%
PAT 5.71 0.93 513.98% -3.39 -8.24 - -0.95 7.36 - -0.74 0.80 -
PATM 200.35% 15.95% -102.73% -106.74% -20.70% 97.10% -13.68% 10.42%
EPS 1.09 0.18 505.56% -0.65 -1.58 - -0.18 1.41 - -0.14 0.15 -

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 36.67 26.46 38.59% 41.52 45.04 -7.82% 34.74 40.69 -14.62% 42.77 49.23 -13.12%
Expenses 64.52 54.40 18.60% 81.32 65.11 24.90% 64.38 58.03 10.94% 63.92 53.75 18.92%
EBITDA -27.85 -27.94 - -39.80 -20.07 - -29.64 -17.34 - -21.15 -4.52 -
EBIDTM -75.95% -105.59% -95.86% -44.56% -85.32% -42.61% -49.45% -9.18%
Other Income 4.67 5.66 -17.49% 3.95 4.62 -14.50% 4.35 3.84 13.28% 4.72 5.82 -18.90%
Interest 3.52 1.49 136.24% 2.83 1.34 111.19% 2.04 1.36 50.00% 1.70 0.97 75.26%
Depreciation 5.77 3.93 46.82% 5.25 2.98 76.17% 5.03 2.43 107.00% 4.61 2.34 97.01%
PBT -24.59 -27.70 - -43.93 -19.75 - -44.96 -17.29 - -22.74 -2.01 -
Tax 0.98 0.10 880.00% 0.79 1.26 -37.30% 0.19 1.29 -85.27% 0.73 2.89 -74.74%
PAT -25.57 -27.80 - -44.72 -21.01 - -45.15 -18.58 - -23.47 -4.90 -
PATM -69.73% -105.06% -107.71% -46.65% -129.97% -45.66% -54.87% -9.95%
EPS -4.91 -5.90 - -9.99 -4.72 - -9.76 -3.92 - -4.97 -1.03 -

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Net Sales 16.15 19.13 31.23 32.54 32.61 33.66 73.61 Net Sales Growth -43.94% -38.74% -4.03% -0.21% -3.12% -54.27% Cost Of Goods Sold 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Gross Profit 16.15 19.13 31.23 32.54 32.61 33.66 73.61 GP Margin 100.00% 100% 100% 100% 100% 100% 100% Total Expenditure 20.37 21.73 27.22 23.75 23.90 25.95 78.33 Power & Fuel Cost - 0.16 0.13 0.13 0.15 0.05 0.14 % Of Sales - 0.84% 0.42% 0.40% 0.46% 0.15% 0.19% Employee Cost - 12.23 12.60 10.02 9.79 9.49 28.69 % Of Sales - 63.93% 40.35% 30.79% 30.02% 28.19% 38.98% Manufacturing Exp. - 0.90 0.87 1.01 1.37 4.78 6.03 % Of Sales - 4.70% 2.79% 3.10% 4.20% 14.20% 8.19% General & Admin Exp. - 8.44 13.58 12.32 12.43 11.50 19.60 % Of Sales - 44.12% 43.48% 37.86% 38.12% 34.17% 26.63% Selling & Distn. Exp. - 0.00 0.00 0.00 0.00 0.00 0.00 % Of Sales - 0% 0% 0% 0% 0% 0% Miscellaneous Exp. - 0.16 0.18 0.39 0.31 0.18 24.00 % Of Sales - 0.84% 0.58% 1.20% 0.95% 0.53% 32.60% EBITDA -4.22 -2.60 4.01 8.79 8.71 7.71 -4.72 EBITDA Margin -26.13% -13.59% 12.84% 27.01% 26.71% 22.91% -6.41% Other Income 0.99 1.66 1.03 0.50 1.25 5.54 0.69 Interest 1.43 0.80 0.59 0.24 0.16 0.16 0.05 Depreciation 2.38 2.78 2.68 2.24 2.17 2.68 3.08 PBT 0.84 -4.51 1.77 6.82 7.62 10.41 -7.16 Tax 0.21 -0.31 0.41 -0.85 1.33 -11.27 3.09 Tax Rate 25.00% 6.95% 24.85% -7.51% 17.45% 430.15% -2.57% PAT 0.63 -4.16 1.24 12.16 6.29 8.65 -123.26 PAT before Minority Interest 0.63 -4.16 1.24 12.16 6.29 8.65 -123.26 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 3.90% -21.75% 3.97% 37.37% 19.29% 25.70% -167.45% PAT Growth -25.88% - -89.80% 93.32% -27.28% - EPS 0.12 -0.80 0.24 2.33 1.20 1.66 -23.61

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Net Sales 155.70 145.49 175.63 201.03 229.88 120.88 211.00 Net Sales Growth -3.54% -17.16% -12.63% -12.55% 90.17% -42.71% Cost Of Goods Sold 37.65 32.71 58.12 83.72 123.72 13.91 47.53 Gross Profit 118.05 112.77 117.51 117.31 106.16 106.97 163.47 GP Margin 75.82% 77.51% 66.91% 58.35% 46.18% 88.49% 77.47% Total Expenditure 274.14 264.02 230.05 200.53 231.12 149.58 216.26 Power & Fuel Cost - 4.79 3.60 3.35 2.80 1.97 2.29 % Of Sales - 3.29% 2.05% 1.67% 1.22% 1.63% 1.09% Employee Cost - 96.57 78.20 54.32 57.79 88.43 106.34 % Of Sales - 66.38% 44.53% 27.02% 25.14% 73.16% 50.40% Manufacturing Exp. - 52.46 38.30 19.55 19.01 16.22 17.22 % Of Sales - 36.06% 21.81% 9.72% 8.27% 13.42% 8.16% General & Admin Exp. - 72.52 49.62 39.28 27.41 28.30 39.66 % Of Sales - 49.85% 28.25% 19.54% 11.92% 23.41% 18.80% Selling & Distn. Exp. - 0.00 0.00 0.00 0.00 0.00 0.00 % Of Sales - 0% 0% 0% 0% 0% 0% Miscellaneous Exp. - 9.76 5.80 3.67 3.19 2.72 5.51 % Of Sales - 6.71% 3.30% 1.83% 1.39% 2.25% 2.61% EBITDA -118.44 -118.53 -54.42 0.50 -1.24 -28.70 -5.26 EBITDA Margin -76.07% -81.47% -30.99% 0.25% -0.54% -23.74% -2.49% Other Income 17.69 18.69 19.11 12.42 7.56 8.70 3.33 Interest 10.09 8.06 4.67 6.23 10.28 24.40 27.09 Depreciation 20.66 18.82 10.15 8.45 7.09 10.37 8.36 PBT -136.22 -126.74 -50.13 -1.74 -11.05 -54.77 -37.38 Tax 2.69 1.81 7.34 7.37 -1.89 -10.66 5.22 Tax Rate -1.97% -1.30% -14.65% -423.56% 11.68% 16.92% -5.97% PAT -138.91 -140.39 -56.38 -10.38 -16.14 -52.36 -92.60 PAT before Minority Interest -138.91 -140.39 -56.38 -10.38 -16.14 -52.36 -92.60 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin -89.22% -96.49% -32.10% -5.16% -7.02% -43.32% -43.89% PAT Growth 0.00% - - - - - EPS -26.61 -26.89 -10.80 -1.99 -3.09 -10.03 -17.74

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Shareholder's Funds 864.80 863.99 857.80 935.59 928.01 919.17 Share Capital 43.59 43.17 43.03 53.79 53.79 53.79 Total Reserves 814.39 814.56 812.12 880.72 874.23 865.38 Non-Current Liabilities 10.73 11.40 3.24 4.88 6.78 5.96 Secured Loans 0.00 0.00 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 2.19 2.34 1.70 1.18 1.93 3.62 Current Liabilities 10.42 5.73 7.30 6.88 4.03 6.66 Trade Payables 0.91 1.02 1.66 2.96 1.21 2.57 Other Current Liabilities 9.35 4.59 5.46 3.67 2.68 3.52 Short Term Borrowings 0.00 0.00 0.00 0.00 0.00 0.00 Short Term Provisions 0.15 0.13 0.17 0.25 0.14 0.56 Total Liabilities 885.95 881.12 868.34 947.35 938.82 931.79 Net Block 6.98 35.34 31.08 29.89 97.82 93.81 Gross Block 10.37 40.08 34.39 33.43 102.50 98.12 Accumulated Depreciation 3.39 4.74 3.31 3.54 4.68 4.32 Non Current Assets 767.20 689.04 576.54 541.57 525.12 470.09 Capital Work in Progress 0.00 0.00 0.00 0.00 0.00 0.00 Non Current Investment 758.61 583.73 469.43 431.49 385.02 344.61 Long Term Loans & Adv. 1.60 2.34 0.63 5.92 35.58 27.66 Other Non Current Assets 0.00 0.00 7.25 4.98 6.70 4.01 Current Assets 23.67 192.08 291.81 405.78 413.71 461.70 Current Investments 20.49 39.20 54.07 145.61 290.05 390.43 Inventories 0.00 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 0.88 0.17 0.61 0.36 3.54 4.71 Cash & Bank 0.21 73.64 0.32 0.36 0.92 0.41 Other Current Assets 2.08 2.50 2.38 10.39 119.21 66.15 Short Term Loans & Adv. 0.96 76.56 234.43 249.06 115.75 30.48 Net Current Assets 13.25 186.35 284.51 398.90 409.67 455.04 Total Assets 790.87 881.12 868.35 947.35 938.83 931.79

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Shareholder's Funds 358.69 492.34 542.11 641.37 653.20 705.58 Share Capital 43.59 43.17 43.03 53.79 53.79 53.79 Total Reserves 304.89 440.20 495.48 586.24 599.41 651.79 Non-Current Liabilities 108.91 53.16 49.85 62.48 117.14 155.54 Secured Loans 0.94 0.82 22.34 38.98 86.55 136.38 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 8.55 9.61 7.82 6.53 7.67 9.03 Current Liabilities 165.25 138.84 161.44 153.19 225.89 161.72 Trade Payables 30.99 23.54 10.90 9.51 24.14 20.03 Other Current Liabilities 132.25 114.24 147.97 141.59 194.41 134.08 Short Term Borrowings 0.00 0.00 0.08 1.38 3.42 2.25 Short Term Provisions 2.02 1.06 2.49 0.70 3.92 5.36 Total Liabilities 632.85 684.34 753.40 857.04 996.23 1,022.84 Net Block 169.81 125.36 91.03 89.91 156.37 144.46 Gross Block 258.43 201.07 167.03 160.45 228.29 210.18 Accumulated Depreciation 88.62 75.71 76.00 70.53 71.92 65.72 Non Current Assets 277.24 341.09 294.26 307.87 268.62 203.71 Capital Work in Progress 20.69 9.68 0.00 0.00 0.00 0.53 Non Current Investment 19.61 11.73 18.67 19.93 21.49 21.43 Long Term Loans & Adv. 55.65 117.79 109.00 128.71 90.55 36.22 Other Non Current Assets 11.48 8.91 7.40 0.02 0.20 1.07 Current Assets 260.52 343.25 459.14 549.17 727.61 819.13 Current Investments 33.72 51.73 64.80 157.63 312.05 392.17 Inventories 16.64 6.13 51.01 130.36 249.37 226.12 Sundry Debtors 22.20 4.94 2.86 5.71 7.42 14.08 Cash & Bank 109.52 209.02 92.93 23.34 24.11 12.23 Other Current Assets 78.45 3.92 11.31 2.79 134.66 174.53 Short Term Loans & Adv. 74.09 67.51 236.23 229.34 129.82 138.12 Net Current Assets 95.27 204.41 297.69 395.98 501.73 657.41 Total Assets 537.76 684.34 753.40 857.04 996.23 1,022.84

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Cash From Operating Activity -9.33 -17.02 -17.38 -7.96 18.84 3.01 PBT -4.51 1.77 6.82 7.62 10.41 -7.16 Adjustment -11.13 -19.53 -21.55 -23.80 -28.67 -6.94 Changes in Working Capital -1.21 2.49 0.47 3.21 24.75 19.25 Cash after chg. in Working capital -16.86 -15.26 -14.26 -12.97 6.49 5.15 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid 7.53 -1.76 -3.12 5.01 12.35 -2.15 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity 7.71 16.72 109.16 7.84 -18.17 -10.92 Net Fixed Assets 29.71 -5.69 -0.96 69.07 -4.38 Net Investments -156.17 -99.43 53.60 97.97 59.97 Others 134.17 121.84 56.52 -159.20 -73.76 Cash from Financing Activity 1.62 0.17 -91.81 -0.45 -0.17 1.53 Net Cash Inflow / Outflow 0.01 -0.12 -0.03 -0.56 0.50 -6.39 Opening Cash & Equivalents 0.20 0.32 0.36 0.92 0.41 6.80 Closing Cash & Equivalent 0.21 0.20 0.32 0.36 0.92 0.41

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Cash From Operating Activity -127.60 -102.34 69.42 66.50 72.67 -18.98 PBT -125.98 -49.05 -3.01 -12.90 -55.53 286.46 Adjustment -8.77 -15.25 -12.73 -5.57 3.52 3.99 Changes in Working Capital 1.83 -27.85 86.43 80.58 107.74 -282.68 Cash after chg. in Working capital -132.92 -92.15 70.70 62.12 55.73 7.76 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid 5.31 -10.20 -1.28 4.38 16.94 -26.75 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity 46.82 158.64 124.07 17.50 12.52 -585.50 Net Fixed Assets 29.71 -5.69 -0.96 69.07 -4.38 Net Investments -156.17 -99.43 53.60 97.97 59.97 Others 173.28 263.76 71.43 -149.54 -43.07 Cash from Financing Activity -12.55 -29.00 -118.54 -93.94 -73.31 556.98 Net Cash Inflow / Outflow -93.34 27.30 74.94 -9.94 11.88 -47.51 Opening Cash & Equivalents 116.03 88.73 13.78 23.73 12.23 59.74 Closing Cash & Equivalent 22.70 116.03 88.73 13.78 24.11 12.23

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Book Value (Rs.) 185.92 187.67 198.74 173.74 172.54 170.89 ROA -0.47% 0.14% 1.34% 0.67% 0.92% -13.23% ROE -0.48% 0.14% 1.36% 0.68% 0.94% -13.41% ROCE -0.42% 0.26% 1.29% 0.84% -0.27% -13.07% Fixed Asset Turnover 0.76 0.84 0.96 0.48 0.34 0.75 Receivable days 10.03 4.55 5.47 21.83 44.72 23.36 Inventory Days 0.00 0.00 0.00 0.00 0.00 0.00 Payable days 0.00 0.00 0.00 0.00 0.00 23.75 Cash Conversion Cycle 10.03 4.55 5.47 21.83 44.72 -0.38 Total Debt/Equity 0.00 0.00 0.00 0.00 0.00 0.00 Interest Cover -4.59 3.79 49.14 47.29 -15.01 -2507.71

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Book Value (Rs.) 75.52 105.76 125.15 118.99 121.44 131.18 ROA -21.32% -7.84% -1.29% -1.74% -5.19% -9.05% ROE -33.75% -11.03% -1.76% -2.50% -7.71% -13.12% ROCE -30.58% -8.39% 0.52% -1.06% -4.68% -6.88% Fixed Asset Turnover 0.63 0.95 1.23 1.18 0.55 1.00 Receivable days 34.05 8.10 7.78 10.42 32.46 24.36 Inventory Days 28.56 59.37 164.65 301.46 717.86 391.16 Payable days 304.19 108.15 44.50 49.64 579.52 53.13 Cash Conversion Cycle -241.58 -40.68 127.92 262.25 170.80 362.39 Total Debt/Equity 0.00 0.00 0.04 0.06 0.19 0.24 Interest Cover -16.19 -9.51 0.52 -0.75 -1.58 -2.23

Top Investors:

habrok india master lp

cassini partners, l.p. managed by habrok capital management llp

murugu selvan k

nivedita ritesh oswal

value prolific consulting services pvt ltd

Annual Reports:

News Update:

Max India - Quarterly Results
5th Aug 2025, 17:51 PM

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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