# Max India share price today (Max India Ltd, NSE: MAXIND)

> Max India share price today: ₹146.86 at the NSE close on 4 November 2026, down 30.9% in a year. Max India (NSE: MAXIND) is worth ₹828 crore, trades at a P/BV of 1.9 and has closed between ₹131.20 and ₹212.49 over the past 52 weeks. > Max India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. MAXIND · Finance - Holding Company · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/max-india-ltd

Sector Alpha also publishes a daily newsletter that explains one Indian stock at a time: https://newsletter.sectoralpha.in/?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Price: ₹146.86 (−30.9% in a year)
- P/BV: 1.9× (higher than 55% of the last 6 years)
- Revenue (Jun 2026): ₹60.0 Cr (+62.2% on a year ago)
- Profit (Jun 2026): −₹36.0 Cr
- Net margin: −60.0% (+10.3 points on a year ago)
- ROE: −33%, FY26

The main question: promoters moved −2.7 percentage points over 8 quarters while the business went the other way. ## What is the 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. 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. ## What changed at Max India this quarter? 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. ## What are Max India's latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Total income | ₹60.0 crore | ₹37.0 crore | +62.2% |
| Profit | loss of ₹36.0 crore | loss of ₹26.0 crore | n/a |
| Earnings per share | ₹−6.91 | ₹−4.91 | n/a |
| Net margin | −60.0% | −70.3% | +10.3 points |

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.)

## What is the Max India share price history? 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

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹147.22 | −0.2% |
| 1 month ago · 1 Oct 2026 | ₹162.78 | −9.8% |
| 6 months ago · 8 May 2026 | ₹179.68 | −18.3% |
| 1 year ago · 7 Nov 2025 | ₹212.49 | −30.9% |
| 3 years ago · 3 Nov 2023 | ₹133.48 | +10.0% |
| 5 years ago · 4 Nov 2021 | ₹71.32 | +105.9% |
| Earliest weekly close in our records · 28 Aug 2020 | ₹71.79 | +104.6% |
| Highest weekly close since August 2020 · 2 Aug 2024 | ₹302.05 | −51.4% |
| Lowest weekly close since August 2020 · 23 Oct 2020 | ₹51.48 | +185.3% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹212.49 | −30.9% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹131.20 | +11.9% |

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.)

## What is the latest news on Max India? 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. ## What dividend does Max India pay? 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.)

## What did Max India management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/40129/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 12 August 2026.)

## What to watch in Max India's next results? 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. - What to check (from the call)
- Antara Noida resident onboarding and Q2 revenue recognition - check move-ins, cash conversion, and revenue booking. - AGEasy Q2-Q4 trajectory - check revenue acceleration, ROAS, and CM2 improvement. - Care-home occupancy review in October-November - check model adherence before any bed expansion. - Second fundraise timing and liquidity - check working-capital needs against Noida collections and the stated multi-year capital requirement. ## Which stock lists is Max India on? Max India is not on any of our India lists this week. ## Is Max India profitable? 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. ## How much revenue does Max India make, and is it growing? 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. 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). ## How much does Max India keep from what it earns? 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. 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. ## How many of Max India's loans have gone bad? 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. 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. ## How fast is Max India's loan book growing? 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. 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. ## What is Max India's P/BV ratio, and how does it compare with its own history? 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. 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. ## Is the Max India business getting better or worse? 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. 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. ## How much does Max India earn on its equity and assets? 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. 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. ## Does Max India have too much debt? 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. ## What is the Max India shareholding pattern? 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. 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. ## How far is Max India from balance-sheet trouble? 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. ## How does Max India rank in its industry? 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. ## Which companies is Max India compared with? Max India ranks 11 of 18 Finance - Holding Company companies on the 4-Factor Sector Score, with 44.9 out of 100. 1. [Jindal Poly Investment & Finance Company Ltd](https://www.sectoralpha.in/stocks/jindal-poly-investment-finance-company-ltd) JPOLYINVST · quiet · Most evidence points up · 69% evidence 69.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Income 100% · Profit 100% · 75% evidence Capital efficiency 20.7/25 · ROA 47.9% · ROE 54.8% · GNPA n/a · 72% evidence Valuation 14.0/20 · P/BV 0.58× · P/BV÷ROE 0.01 · 100% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -11.2% · 1 year -10.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 27.1 + 20.7 + 14 + 8.1 = 69.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Kama Holdings Ltd](https://www.sectoralpha.in/stocks/kama-holdings-ltd) KAMAHOLD · basing · Most evidence points up · 69% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Income 12.9% · Profit 50.8% · 75% evidence Capital efficiency 18.1/25 · ROA 7.3% · ROE 12.6% · GNPA n/a · 72% evidence Valuation 18.2/20 · P/BV 0.86× · P/BV÷ROE 0.07 · 100% evidence Relative strength 8.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.2% · 1 year -29.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 24.3 + 18.1 + 18.2 + 8.6 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Alembic Ltd](https://www.sectoralpha.in/stocks/alembic-ltd) ALEMBICLTD · losing its lead · Evidence leans up · 84% evidence 62.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.1/35 · Income 8.1% · Profit 1.3% · 75% evidence Capital efficiency 18.3/25 · ROA 12.2% · ROE 13% · GNPA n/a · 72% evidence Valuation 16.3/20 · P/BV 0.92× · P/BV÷ROE 0.07 · 100% evidence Relative strength 17.5/20 · Lead over its industry 4.1% · Lead over NIFTY 500 -2% · 1 year -12.3% · 100% evidence · 9 of 12 weeks ahead Exact sum: 10.1 + 18.3 + 16.3 + 17.5 = 62.2 · What this means: Relative strength against the index is -2%, and revenue and profit growth are weak. 4. [Cholamandalam Financial Holdings Ltd](https://www.sectoralpha.in/stocks/cholamandalam-financial-holdings-ltd) CHOLAHLDNG · basing · Evidence leans up · 76% evidence 61.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.8/35 · Income 17.5% · Profit 24.3% · 55% evidence Capital efficiency 18.6/25 · ROA 2.2% · ROE 17.5% · GNPA n/a · 68% evidence Valuation 17.0/20 · P/BV 1.64× · P/BV÷ROE 0.09 · 100% evidence Relative strength 5.9/20 · Lead over its industry -6.3% · Lead over NIFTY 500 -12.1% · 1 year -29.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.8 + 18.6 + 17 + 5.9 = 61.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [TVS Holdings Ltd](https://www.sectoralpha.in/stocks/tvs-holdings-ltd) TVSHLTD · quiet · Evidence leans up · 75% evidence 56.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.2/35 · Income 35% · Profit 48.9% · 52% evidence Capital efficiency 13.9/25 · ROA 0.4% · ROE 30.6% · GNPA n/a · 68% evidence Valuation 10.8/20 · P/BV 3.68× · P/BV÷ROE 0.12 · 100% evidence Relative strength 7.3/20 · Lead over its industry -2.1% · Lead over NIFTY 500 -5.9% · 1 year -19.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.2 + 13.9 + 10.8 + 7.3 = 56.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bajaj Finserv Ltd](https://www.sectoralpha.in/stocks/bajaj-finserv-ltd) BAJAJFINSV · quiet · Evidence leans up · 73% evidence 52.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.2/35 · Income 14.7% · Profit 10.5% · 45% evidence Capital efficiency 18.1/25 · ROA 4.9% · ROE 13.2% · GNPA n/a · 68% evidence Valuation 8.7/20 · P/BV 3.43× · P/BV÷ROE 0.26 · 100% evidence Relative strength 8.5/20 · Lead over its industry -1.3% · Lead over NIFTY 500 -7.1% · 1 year -20.1% · 100% evidence · 7 of 12 weeks ahead Exact sum: 17.2 + 18.1 + 8.7 + 8.5 = 52.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Bajaj Holdings & Investment Ltd](https://www.sectoralpha.in/stocks/bajaj-holdings-investment-ltd) BAJAJHLDNG · quiet · Too little evidence to rank firmly · 58% evidence 51.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.4/35 · Income 30.3% · Profit 5.6% · 45% evidence Capital efficiency 12.3/25 · ROA 0.6% · ROE 11.9% · GNPA n/a · 68% evidence Valuation 10.9/20 · P/BV 1.55× · P/BV÷ROE 0.13 · 100% evidence Relative strength 11.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -0.6% · 1 year -17% · 25% evidence · 9 of 12 weeks ahead Exact sum: 17.4 + 12.3 + 10.9 + 11.1 = 51.7 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Rane Holdings Ltd](https://www.sectoralpha.in/stocks/rane-holdings-ltd) RANEHOLDIN · quiet · Too little evidence to rank firmly · 58% evidence 48.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.7/35 · Income 25.8% · Profit -50.8% · 45% evidence Capital efficiency 14.3/25 · ROA 4% · ROE 7% · GNPA n/a · 68% evidence Valuation 6.7/20 · P/BV 1.78× · P/BV÷ROE 0.25 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 6.1% · 1 year -6.9% · 25% evidence · 5 of 12 weeks ahead Exact sum: 14.7 + 14.3 + 6.7 + 12.5 = 48.2 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 9. [Tata Investment Corporation Ltd](https://www.sectoralpha.in/stocks/tata-investment-corporation-ltd) TATAINVEST · quiet · Evidence leans down · 84% evidence 47.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Income 31.6% · Profit 31.4% · 75% evidence Capital efficiency 12.2/25 · ROA 1.3% · ROE 1.4% · GNPA n/a · 72% evidence Valuation 4.0/20 · P/BV 0.97× · P/BV÷ROE 0.67 · 100% evidence Relative strength 5.3/20 · Lead over its industry -5.6% · Lead over NIFTY 500 -11.2% · 1 year -29.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25.8 + 12.2 + 4 + 5.3 = 47.3 · What this means: Earnings are strong; relative strength in its sector is -5.6% and the one-year return is -29.6%. 10. [JSW Holdings Ltd](https://www.sectoralpha.in/stocks/jsw-holdings-ltd) JSWHL · turning · Evidence leans down · 82% evidence 47.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.6/35 · Income 55.8% · Profit 61.6% · 86% evidence Capital efficiency 8.4/25 · ROA 0.5% · ROE 0.5% · GNPA n/a · 72% evidence Valuation 4.4/20 · P/BV 0.34× · P/BV÷ROE 0.74 · 70% evidence Relative strength 6.8/20 · Lead over its industry -14.6% · Lead over NIFTY 500 -19.7% · 1 year -33.5% · 100% evidence · 3 of 12 weeks ahead Exact sum: 27.6 + 8.4 + 4.4 + 6.8 = 47.2 · What this means: Earnings are strong; relative strength in its sector is -14.6% and the one-year return is -33.5%. 11. Max India Ltd this page MAXIND · quiet · Too little evidence to rank firmly · 52% evidence 44.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Income 36.3% · Profit 5.7% · 19% evidence Capital efficiency 4.0/25 · ROA -4.2% · ROE -32.8% · GNPA n/a · 68% evidence Valuation 7.5/20 · P/BV 1.89× · P/BV÷ROE n/a · 40% evidence Relative strength 13.1/20 · Lead over its industry 0.2% · Lead over NIFTY 500 -5.8% · 1 year -31.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.3 + 4 + 7.5 + 13.1 = 44.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 12. [Godrej Industries Ltd](https://www.sectoralpha.in/stocks/godrej-industries-ltd) GODREJIND · quiet · Evidence leans down · 73% evidence 44.0 out of 100 Growth Capital Valuation Relative
13. [Vardhman Holdings Ltd](https://www.sectoralpha.in/stocks/vardhman-holdings-ltd) VHL · breaking out · Too little evidence to rank firmly · 58% evidence 41.9 out of 100 Growth Capital Valuation Relative
14. [Elcid Investments Ltd](https://www.sectoralpha.in/stocks/elcid-investments-ltd) ELCIDIN · basing · Evidence leans down · 78% evidence 38.0 out of 100 Growth Capital Valuation Relative
15. [Kalyani Investment Company Ltd](https://www.sectoralpha.in/stocks/kalyani-investment-company-ltd) KICL · quiet · Too little evidence to rank firmly · 54% evidence 32.1 out of 100 Growth Capital Valuation Relative
16. [Max Financial Services Ltd](https://www.sectoralpha.in/stocks/max-financial-services-ltd) MFSL · quiet · Most evidence points down · 88% evidence 31.7 out of 100 Growth Capital Valuation Relative
17. [Maharashtra Scooters Ltd](https://www.sectoralpha.in/stocks/maharashtra-scooters-ltd) MAHSCOOTER · quiet · Most evidence points down · 73% evidence 31.5 out of 100 Growth Capital Valuation Relative
18. [Pilani Investment & Industries Corporation Ltd](https://www.sectoralpha.in/stocks/pilani-investment-industries-corporation-ltd) PILANIINVS · basing · Most evidence points down · 69% evidence 29.6 out of 100 Growth Capital Valuation Relative

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](https://www.sectoralpha.in/sectors/finance-holding-company), all 18 compared on one page. ## Which companies are close to Max India in size? 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

1. [Alembic Ltd](https://www.sectoralpha.in/stocks/alembic-ltd) ₹2,240 crore
2. [Rane Holdings Ltd](https://www.sectoralpha.in/stocks/rane-holdings-ltd) ₹2,053 crore
3. [Elcid Investments Ltd](https://www.sectoralpha.in/stocks/elcid-investments-ltd) ₹2,000 crore
4. [Kalyani Investment Company Ltd](https://www.sectoralpha.in/stocks/kalyani-investment-company-ltd) ₹1,897 crore
5. [Vardhman Holdings Ltd](https://www.sectoralpha.in/stocks/vardhman-holdings-ltd) ₹1,100 crore
6. [Jindal Poly Investment & Finance Company Ltd](https://www.sectoralpha.in/stocks/jindal-poly-investment-finance-company-ltd) ₹928 crore
7. Max India Ltd ₹829 crore

[All 18 Finance - Holding Company companies, largest first](https://www.sectoralpha.in/sectors/finance-holding-company#all-companies)

### Companies close in size in other industries

1. [Madras Fertilizers Ltd](https://www.sectoralpha.in/stocks/madras-fertilizers-ltd) ₹832 crore · Fertilisers
2. [Sancode Technologies Ltd](https://www.sectoralpha.in/stocks/sancode-technologies-ltd) ₹832 crore · IT - Software
3. Max India Ltd ₹829 crore
4. [Karnika Industries Ltd](https://www.sectoralpha.in/stocks/karnika-industries-ltd) ₹827 crore · Textiles - Readymade Apparel
5. [Pudumjee Paper Products Ltd](https://www.sectoralpha.in/stocks/pudumjee-paper-products-ltd) ₹827 crore · Paper

## What else do people ask about Max India? ### What is Max India's share price today? Max India Ltd's share price is ₹146.86, −30.9% over the past year. The whole company is worth ₹828 Cr on the market. In the last 52 weeks it traded between ₹131 to ₹212; today it is 19% of the way up from the low, 10.0% below its 200-day average (as of 4 November 2026). ### What were Max India's latest quarterly results? Max India Ltd reported total income of ₹60.0 Cr and a net loss of ₹36.0 Cr for the Jun 2026 quarter. Earnings per share were −₹6.91. The net margin was −60.0%, 10.3 percentage points higher than a year earlier (as of 4 November 2026). ### What is Max India's market cap? Max India Ltd's market capitalisation is ₹828 Cr at a share price of ₹146.86. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Max India performing? Max India Ltd's share price has been falling for 47 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running. This describes what the data did, not a rating (as of 4 November 2026). ### Will Max India's share price go up? This page does not forecast Max India Ltd's share price. What it shows instead: the share price is ₹146.86, and it has been falling for 47 weeks. Its P/BV of 1.9× is higher than 55% of its own last 6 years (as of 4 November 2026). ### Who owns Max India? Promoters own 48.2% of Max India Ltd, foreign institutions 6.9%, domestic institutions 4.9% and the public 40.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 4.0 percentage points over 8 quarters (as of 4 November 2026). ### Where is Max India in its business cycle? Max India Ltd's FY26 net margin was −57.8%, against a 7-year range of −85.9% to 108.9%: the low end of its own range, which is often where recoveries start. The latest quarter was −60.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Max India story? The main question: promoters moved −2.7 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Max India a stock worth studying right now? What the numbers show: Max India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Max India share price forecast for 2026? What management itself guided: Antara Noida onboarding: 200-300 residents expected to move in over 30-45 days, with IWC launch following check-ins. This is research, not advice. We’re not SEBI-registered.