Max India share price today

Max India Ltd's share price was ₹146.86 at the close on 4 November 2026. It has been falling for 47 weeks. That is 10.0% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹131 and ₹212, and at that close it sat 19% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Max India Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 6.2 years the share price moved +105% while the NIFTY 500 moved +130%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: promoters cut their stake for 8 quarters in a row, profit fell in the June 2026 quarter and revenue up on a year earlier for 5 quarters in a row.

1. Promoters cut their stake for 8 quarters in a row

   From 50.9% to 48.2% of the company by the September 2026 quarter.

2. Profit fell in the June 2026 quarter

   Profit was ₹-36 crore, -38.5% on a year earlier (₹-26 crore), after 2 quarters of growth.

   Why: Profit fell because product costs rose after shipments from China were disrupted and some goods had to be flown in.

   Next results: check whether AGEasy gets closer to making money by Q4FY27.

   From the earnings call on 12 Aug 2026.

3. Revenue up on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹60 crore, +62.2% on a year earlier.

   Why: Revenue rose because the care-home business brought in more money from services.

   Next results: check whether Noida move-ins start adding revenue in Q2 and whether AGEasy sales keep growing.

   From the earnings call on 12 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Max India reported total income of ₹60.0 crore, up 62.2% from ₹37.0 crore a year earlier, and a loss of ₹36.0 crore.

Max India results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Max India's management discussed these results on a call held on 12 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Income and profit in ₹ crore.

Max India closed at ₹146.86 on 4 November 2026, down 30.9% from ₹212.49 a year earlier (7 November 2025) and up 105.9% over five years. Its highest weekly close since August 2020 was ₹302.05 on 2 August 2024.

Max India share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

330 weekly closes from 28 August 2020 to 4 November 2026.

4 Nov 2026: Max India closed at ₹146.86, down 0.2% on the week and down 9.8% on the month. 12 Aug 2026: Max India held its results call for April to June 2026. Management guided: Antara Noida onboarding: 200-300 residents expected to move in over 30-45 days, with IWC launch following check-ins.

Earlier

• Results for April to June 2026: Total income up 62.2% on a year earlier.

Max India has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Max India Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 12 August 2026, Max India's management guided: Antara Noida onboarding: 200-300 residents expected to move in over 30-45 days, with IWC launch following check-ins.

“The core of the product is services, not infrastructure.”Rajit Mehta, MD & CEO, on the call for April to June 2026

What management guided

• Noida Phase I revenue recognition and inventory buyouts expected in July to September 2026.
• Noida Phase 2 launch at currently observed ₹16,000-18,000 plus rates, with profit realization expected.
• Bangalore and Dehradun opportunities intended to deliver 1.5 million square feet and ₹1,800 crore of senior-living value this year.
• AGEasy FY27 revenue planned to double; contribution margin and operating profit planned positive by January to March 2027.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 12 August 2026.

When Max India reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Antara Noida resident onboarding and Q2 revenue recognition - check move-ins, cash conversion, and revenue booking.

Max India is not on any of our India lists this week.

Max India Ltd posted a net loss of ₹36.0 Cr in the Jun 2026 quarter. The full FY26 year was a loss of ₹122 Cr. That loss is 60.0% of the quarter's revenue. The same quarter a year earlier lost ₹26.0 Cr. 12 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Max India Ltd reported ₹60.0 Cr of income in the Jun 2026 quarter, +62.2% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 6 years it has grown −0.2% a year on average. The last full year, FY26, came in at ₹211 Cr.

For a bank, revenue is everything it earns: interest on its loans plus fees and other income.

The last four reported quarters add to ₹214 Cr.

FY26 revenue was ₹211 Cr, +29.4% on the year before.

Recent pace: the last four quarters grew +36.7% on average, against −0.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +36.3%, against +15.3% a year over the last 8 quarters (accelerating).

Max India Ltd's net margin was −60.0% in the Jun 2026 quarter, 10.3 percentage points higher than the same quarter a year ago. Across 7 years it has been between −85.9% and 108.9%. The latest quarter is within that range.

Net margin is what the bank keeps from every ₹100 of revenue after every cost, provision for bad loans and tax. It is the clearest single margin we can read for a lender.

Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

Max India Ltd does not report loan-quality figures this page can read, so this section says so rather than guess. No bad-loan figures are filed in a form this page can read, and none are guessed from the profit line. The income, margin and return sections carry what this business does report.

Gross NPA is the share of the loan book where repayments have stopped. Net NPA is what is left after the money the lender has already set aside for those loans. Falling is good; rising is a warning.

Why: loan quality drives a lender, but its details (new bad loans, recoveries, money set aside) are not in our data for this company. The sections around this one carry what we can back up.

Max India Ltd's revenue was ₹211 Cr in FY26, +29.4% on the year before, so the loan book is growing. The latest quarter was +62.2% on a year earlier. The net margin on that income is −60.0%, +10.3 percentage points on a year ago.

We read the loan book through revenue: when the book grows, revenue grows with it. It is only a rough guide, because interest-rate changes and fee swings can move it a few points in any year.

Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year.

In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses.

Max India Ltd's P/BV is 1.9×, in the middle of its own history: higher than 55% of past readings. Its usual P/BV (the middle reading) is 1.5×, over 6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

For a bank or lender we compare the price with book value, the net worth on its balance sheet. P/BV is how many rupees the market pays for each ₹1 of that net worth. Below 1× means the market values it at less than its net worth.

Why the multiple is low: this lender earns about −33% a year on its equity. A lender that earns less on its net worth is valued lower for each rupee of it, and that gap usually closes only if returns improve.

Where the price move came from: over 5 years the price moved +15.5% a year; about −5.2% a year came from book-value growth and about +20.7 percentage points from the multiple (the market paying more). The split is approximate (price return minus book-value growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the book value trend underneath matters more than the multiple.

Max India Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 9 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

We do not have a clean yearly return-on-equity history for Max India Ltd. For an insurer in particular, the usual bank ratios do not fit, so this page does not force them or estimate a series. The revenue, margin and ownership sections show what this company does report.

Two numbers usually rate a lender: ROE, what it earns on shareholders’ money, and ROA, what it earns on all its assets.

The quarterly return-on-equity and return-on-assets curves, which only the second data source has, are not shown on this page: its two data sources disagree by up to 638% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

For a bank, borrowing is the raw material of the business, not a warning sign: it borrows money in order to lend it out. Its safety is read through its returns and its loans. Its safety is read from the bad-loan figures and the return on equity instead.

For a manufacturer, debt is a claim on its profits. For a lender it is the stock it trades in, so the usual debt-to-equity test would mislead and is not used here.

Domestic institutions raised their stake in Max India Ltd by 4.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 4.9% of the company. Promoters moved −2.7 points over the same period, to 48.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +4.0 points over 8 quarters, to 4.9%; Promoters: −2.7 points over 8 quarters, to 48.2%; Foreign institutions: +0.1 points over 8 quarters, to 6.9%.

Why the owners changed: domestic institutions drove it (+4.0 points), with the other side taken by promoters (−2.7 points). They raised their stake step by step.

For Max India Ltd, the Z-score is not used, because it was built for manufacturers, not lenders. For a lender, safety is read from its capital and bad-loan figures instead.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

44.9 out of 100, rank 11 of 18 in Finance - Holding Company, with 52% of the evidence available.

Max India Ltd scores 44.9 out of 100 against the 18 companies it is compared with in Finance - Holding Company, ranking 11. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 20.3 + 4 + 7.5 + 13.1 = 44.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector.

Max India ranks 11 of 18 Finance - Holding Company companies on the 4-Factor Sector Score, with 44.9 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Finance - Holding Company, all 18 compared on one page.

Max India is the 18th largest of 18 Finance - Holding Company companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Alembic, Rane Holdings, Elcid Investments, Kalyani Investment Company, Vardhman Holdings and Jindal Poly Investment & Finance Company. It is the smallest.

Finance - Holding Company companies close in size

12. Alembic Ltd ₹2,240 crore
13. Rane Holdings Ltd ₹2,053 crore
14. Elcid Investments Ltd ₹2,000 crore
15. Kalyani Investment Company Ltd ₹1,897 crore
16. Vardhman Holdings Ltd ₹1,100 crore
17. Jindal Poly Investment & Finance Company Ltd ₹928 crore
18. Max India Ltd ₹829 crore

All 18 Finance - Holding Company companies, largest first

Companies close in size in other industries

1710. Madras Fertilizers Ltd ₹832 crore · Fertilisers
1711. Sancode Technologies Ltd ₹832 crore · IT - Software
1712. Max India Ltd ₹829 crore
1713. Karnika Industries Ltd ₹827 crore · Textiles - Readymade Apparel
1714. Pudumjee Paper Products Ltd ₹827 crore · Paper

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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