| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 10.8K | 24.2% | 12.7% |
| Total Income | 10.8K | 24.3% | 12.8% |
| Expenditure | 10.8K | 23.7% | 12.3% |
| PBT | -38.07 | 176.1% | 258.1% |
| Net Profit | -31.52 | 170.4% | 182.3% |
| OPM | -0.06% | 0.61pp | 0.22pp |
| NPM | -0.29% | 0.60pp | 0.60pp |
| EPS | 0.81 | 24.3% | 15.6% |
Max Financial FY'26 Revenue Up 17%; Axis Max Life VNB Jumps 26%
13 May 2026 · 13 May, 2:40 pm
Summary
Max Financial Services Limited reported a consolidated revenue, excluding investment income, of ₹38,039 crores for FY’26, a 17% year-on-year increase, with consolidated Profit after Tax at ₹106 crores. Its subsidiary, Axis Max Life, delivered strong operational performance, with Individual Adjusted First Year Premium growing by 19% to ₹9,885 crores and Gross Written Premium rising 17% to ₹38,877 crores. Profitability measures also improved, as the Value of New Business (VNB) increased by 26% to ₹2,647 crores, and New Business Margins rose to 25.2%. Sumit Madan, MD and CEO of Axis Max Life, highlighted that the company's 19% FYP growth surpassed the private industry average, expanding its market share to 10.4%.
Key Highlights
- 1
Max Financial Services Limited reported consolidated revenue excluding investment income of ₹38,039 crores for FY’26, marking a 17% year-on-year growth.
- 2
The company posted a consolidated Profit after Tax of ₹106 crores for FY’26.
- 3
Axis Max Life’s Individual Adjusted First Year Premium grew by 19% year-on-year to ₹9,885 crores, outpacing the private industry growth of 12%.
- 4
Axis Max Life achieved a Gross Written Premium of ₹38,877 crores in FY’26, reflecting a 17% increase year-on-year.
- 5
The Value of New Business (VNB) for Axis Max Life increased by 26% year-on-year to ₹2,647 crores, accompanied by an improvement in New Business Margins to 25.2%.
- 6
Axis Max Life's Assets Under Management (AUM) expanded by 8% year-on-year to ₹1.89 lakh crores, while its Embedded Value grew 15% to ₹28,871 crores.
Management Comments
Sumit Madan
Axis Max Life has delivered a double-digit Individual Adjusted FYP growth of 19% in the fiscal, ahead of private industry growth of 12%. This is underpinned by the growth across our proprietary and partnership verticals. This has led our market share to expand by 56 bps and is at 10.4% in FY’26, thus maintaining our market position.
Informational and educational content only. Not investment advice.