Max Financial Services Ltd

Max Financial Services Ltd has been assigned an Environmental, Social, and Governance (ESG) rating of "71" out of 100 by NSE Sustainability Ratings & Analytics Limited (NSE SRA). This rating, published on October 16, 2026, reflects the company's performance on ESG parameters as assessed by NSE SRA. The rating was prepared independently by NSE SRA based on publicly available data, and Max Financial Services Ltd has voluntarily disclosed this information to the stock exchanges for wider dissemination to stakeholders.

Max Financial Services Ltd's subsidiary, Axis Max Life Insurance, has successfully allotted 68,600 unsecured, subordinated, listed, rated, redeemable, taxable, non-cumulative, non-convertible debentures. Each debenture has a face value of INR 1,00,000, totaling INR 686,00,00,000 (INR 686 Crore) at face value. The issuance, conducted on a private placement basis via NSE's electronic bidding platform, raised INR 686,00,30,000 (INR 686 Crore and 30 Thousand), including a premium of INR 30,000. These debentures have a tenor of 10 years, with a potential call option after 5 years. The application for listing on the National Stock Exchange of India Limited is in progress.

Max Financial Services Ltd has announced a Board of Directors meeting scheduled for Tuesday, October 27, 2026. The primary agenda is to consider and approve the unaudited financial results for the quarter and half-year ending September 30, 2026. Concurrently, the company will implement a trading window closure for designated persons from October 1, 2026, until 48 hours after the results announcement, expected to be October 29, 2026, in line with SEBI's insider trading regulations. Immediate relatives' PANs are also being tagged by depositories.

Max Financial Services Ltd has announced that its Board of Directors will convene on October 27, 2026. The primary agenda items include the consideration and approval of the company's unaudited financial results for the quarter and half-year ending September 30, 2026, on both standalone and consolidated bases. Additionally, the company will address the closure of the trading window for designated persons, which will be effective from October 1, 2026, until 48 hours after the announcement of the financial results, expected to be October 29, 2026. The company also noted the tagging of PANs of immediate relatives of designated persons by depositories.

Max Financial Services Ltd has received an ESG Rating of "71" out of 100 from Niche Ninety Nine Capability and Certifications (OPC) Private Limited. The rating was independently prepared by Niche based on publicly available data and was communicated to the company via BSE. Max Financial Services is voluntarily disclosing this information to stakeholders.

Max Financial Services Ltd has received an ESG Rating of "70" and a Core ESG Rating of "77" from Crisil ESG Ratings & Analytics Limited. These ratings are on a scale of 0-100, with 100 being the highest. Crisil independently prepared the report based on publicly available data, and Max Financial Services has not engaged Crisil for this rating. The company is voluntarily disclosing this information to stakeholders.

Max Financial Services Ltd and its subsidiary Axis Max Life Insurance Limited, along with certain directors and key managerial personnel, have been involved in proceedings related to a show cause notice (SCN) issued by SEBI. SEBI has now issued a Final Order on August 24, 2026, disposing of the proceedings against 12 noticees without any directions or penalties. However, settlement applications filed by 13 additional noticees, who are present/former Non-Executive/Independent Directors, are still under process, and a final order for them is awaited.

Max Financial Services Ltd has addressed a temporary non-compliance with Regulation 19 of the Listing Regulations concerning the composition of its Nomination and Remuneration Committee (NRC). The deviation occurred for two days in the quarter ended March 31, 2026, due to the retirement of an Independent Director. The Board of Directors acknowledged this procedural lapse, noting that Independent Directors still formed a majority on the NRC and no meetings were held during the non-compliance period. Following the appointment of a new Independent Director and subsequent co-option to the NRC on April 9, 2026, full compliance was restored. The company has paid a fine of ₹4,000 plus GST (total ₹4,720) to each stock exchange and assured measures to prevent future recurrences, emphasizing adherence to governance standards.

Max Financial Services Limited announced strong performance for the first quarter of FY'27. Axis Max Life Insurance reported a 17% year-on-year growth in Individual Adjusted First Year Premium, reaching ₹1,810 crores. The company's Value of New Business (VNB) saw a significant 33% YoY increase to ₹446 crores, with new business margins improving by 315 basis points to 23.2%. Consolidated revenue for Max Financial Services, excluding investment income, grew by 18% YoY to ₹37,289 crores. Assets Under Management (AUM) crossed the ₹2 lakh crore milestone, growing 11% YoY. The company also highlighted strong growth in protection, health, and annuity segments, alongside accelerated digital transformation efforts.

Max Financial Services Ltd announced the approval of its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors met today to consider and approve these results. The company also confirmed that the trading window for dealing in its securities, which was closed effective July 1, 2026, will remain closed until 48 hours after the declaration of these financial results, extending to August 15, 2026. The Limited Review Report from the Statutory Auditors has been submitted along with the financial results. The filing also details a show cause notice from SEBI regarding alleged non-compliances, the outcome of which is pending and has not impacted the current results.