---
title: "Max Financial Services Ltd (MFSL) — Share Price, Financials & Analysis"
symbol: "MFSL"
company: "Max Financial Services Ltd"
canonical: "https://tapetide.com/stocks/MFSL"
isin: "INE180A01020"
nse_symbol: "MFSL"
bse_code: "500271"
sector: "Insurance"
industry: "Life Insurance"
market_cap_cr: 50490.29
generated_at: "2026-09-13T19:14:10.153Z"
---

# Max Financial Services Ltd (MFSL)

Canonical page: https://tapetide.com/stocks/MFSL

## Company

- **NSE Symbol:** MFSL
- **BSE Code:** 500271
- **ISIN:** INE180A01020
- **Sector:** Insurance
- **Industry:** Life Insurance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2000-05-17
- **CEO:** Mr. Analjit Singh BA, BS, MBA
- **Employees:** 10
- **Face Value:** ₹2
- **F&O Eligible:** Yes
- **Website:** maxfinancialservices.com

## About

Max Financial Services Limited incorporated on 24 February, 1988 is part of India’s leading business conglomerate – the Max Group. Company is primarily engaged in growing and nurturing business investments and providing management advisory services to Indian group companies.[1] It owns and actively manages an 81.83% majority stake in Max Life Insurance, India’s largest non-bank life insurer and 4th largest private life insurance company. [2]

## Latest Price

- **Price:** ₹1477
- **Change:** -2.9 (-0.2%)
- **Open:** ₹1468
- **Day High:** ₹1488
- **Day Low:** ₹1453.6
- **Previous Close:** ₹1479.9
- **Volume:** 350366
- **As Of:** 2026-09-11T10:01:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:50:55.165564Z.

- **Market Cap:** ₹50490.29 Cr
- **Classification:** Midcap
- **P/E (reported):** 370.4
- **P/E (TTM):** 463.01
- **EPS (TTM):** ₹3.19
- **EPS (reported):** ₹11
- **Book Value:** ₹153.05
- **Price to Book:** 9.63
- **Dividend Yield:** 0%
- **ROE:** 1.63%
- **ROCE:** 2.8%
- **Debt to Equity:** 0.35
- **Revenue (yearly):** ₹47696.4 Cr
- **Net Income:** ₹104.5 Cr
- **EBITDA:** ₹234 Cr
- **52-Week High:** ₹1892.5
- **52-Week Low:** ₹1433.6
- **RSI (14):** 39.48

## Tapetide Score

- **Score:** 33 / 100
- **Score date:** 2026-09-04
- **Archetype:** Expensive and Under Pressure
- **What it means:** The multiple is demanding and the trend has turned against it, without the financial strength that would justify paying up. What matters is whether the de-rating stops at the multiple or starts showing up in the numbers.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Falling
- **Percentile:** 4 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 31.95 | 9% |
| growth | 24.27 | 9% |
| momentum | 26.53 | 12% |
| ownership | 42.06 | 24% |
| quality | 54.27 | 22% |
| valuation | 25.8 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 9.65 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 8.80% over past five years.
- Promoter holding is low: 1.25%
- Tax rate seems low
- Company has a low return on equity of 5.57% over last 3 years.
- Promoters have pledged 26.9% of their holding.
- Promoter holding has decreased over last 3 years: -8.89%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 37.37% | 87.94% | 35.04% |
| ebitda margin growth | — | -54.63% | -50.51% | -63.43% |
| net income growth | 475.56% | -74.31% | -40% | -28% |
| revenue growth | 38.58% | 2.58% | 15% | 9% |
| roce | — | -58.15% | -70.18% | 7.94% |
| roe | -475.29% | -74.33% | 5.66% | -77.04% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 10165 | 12356 | 14888 | 11799 | 13372 | 8923 | 12376 | 12822 | 9792 | 14259 | 10802 | 14970 |
| Expenses | 10021 | 12146 | 14945 | 11608 | 13199 | 8834 | 12356 | 12703 | 9771 | 14181 | 10808 | 14803 |
| Operating Profit | 144 | 209 | -57 | 190 | 173 | 89 | 20 | 119 | 21 | 78 | -6 | 167 |
| OPM % | 1.4 | 1.7 | -0.4 | 1.6 | 1.3 | 1 | 0.2 | 0.9 | 0.2 | 0.6 | -0.1 | 1.1 |
| Other Income | 25 | 4 | 10 | 1 | 2 | 3 | 18 | 3 | 7 | 9 | 5 | 7 |
| Interest | 9 | 14 | 11 | 9 | 13 | 10 | 15 | 20 | 21 | 36 | 35 | 36 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Profit before tax | 158 | 198 | -59 | 182 | 162 | 81 | 22 | 101 | 6 | 50 | -36 | 138 |
| Tax % | -8 | 14 | -15 | 14 | 14 | 14 | -73 | 14 | 6 | 11 | -13 | 14 |
| Net Profit | 170 | 171 | -50 | 156 | 139 | 70 | 38 | 86 | 6 | 45 | -32 | 118 |
| EPS in Rs | 4.29 | 4.3 | -1.28 | 3.69 | 3.26 | 1.62 | 0.91 | 2.02 | 0.12 | 1.06 | -0.76 | 2.77 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 16338 | 19510 | 18240 | 31275 | 31182 | 31415 | 46576 | 46469 | 47674 | 49822 |
| Expenses | 15807 | 19003 | 17788 | 30689 | 30769 | 30862 | 46150 | 45994 | 47462 | 49562 |
| Operating Profit | 531 | 507 | 452 | 585 | 413 | 554 | 426 | 476 | 212 | 260 |
| OPM % | 3.2 | 2.6 | 2.5 | 1.9 | 1.3 | 1.8 | 0.9 | 1 | 0.4 | 0.5 |
| Other Income | 1 | 3 | 2 | 13 | 6 | 16 | 36 | 21 | 23 | 28 |
| Interest | 0 | 27 | 0 | 0 | 25 | 37 | 44 | 47 | 112 | 128 |
| Depreciation | 2 | 2 | 11 | 5 | 5 | 5 | 3 | 3 | 2 | 2 |
| Profit before tax | 530 | 481 | 442 | 593 | 389 | 527 | 415 | 447 | 121 | 158 |
| Tax % | 17 | 13 | 38 | 6 | 18 | 14 | 5 | 10 | 13 | — |
| Net Profit | 442 | 416 | 273 | 560 | 318 | 452 | 393 | 403 | 106 | 137 |
| EPS in Rs | 10.67 | 9.75 | 5.38 | 12.33 | 7.34 | 10.97 | 9.85 | 9.48 | 2.43 | 3.19 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 53 | 54 | 54 | 54 | 69 | 69 | 69 | 69 | 69 | 69 |
| Reserves | 2281 | 1766 | 2005 | 2093 | 3274 | 3866 | 3450 | 3797 | 5206 | 5213 |
| Borrowings | 0 | 0 | 0 | 3 | 3 | 522 | 523 | 523 | 1026 | 1859 |
| Other Liabilities | 44405 | 54022 | 65097 | 72377 | 94710 | 113291 | 127783 | 158383 | 183879 | 191795 |
| Total Liabilities | 46739 | 55842 | 67156 | 74526 | 98057 | 117747 | 131824 | 162771 | 190180 | 198936 |
| Fixed Assets | 740 | 556 | 556 | 641 | 639 | 616 | 614 | 612 | 610 | 607 |
| CWIP | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 44059 | 52683 | 63245 | 68566 | 91766 | 109794 | 123355 | 152959 | 179841 | 186014 |
| Other Assets | 1938 | 2602 | 3356 | 5320 | 5652 | 7337 | 7854 | 9201 | 9729 | 12314 |
| Total Assets | 46739 | 55842 | 67156 | 74526 | 98057 | 117747 | 131824 | 162771 | 190180 | 198936 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 6526 | 7534 | 8826 | 5452 | 6892 | 8496 | 9922 | 6104 | 8352 | 11473 |
| Cash from Investing Activity | -6290 | -6951 | -8789 | -4991 | -6852 | -8835 | -11555 | -5001 | -9703 | -11125 |
| Cash from Financing Activity | -215 | -116 | -174 | -383 | -92 | 388 | -233 | -117 | 1961 | 567 |
| Net Cash Flow | 20 | 466 | -137 | 78 | -51 | 48 | -1866 | 986 | 610 | 915 |
| Free Cash Flow | 6447 | 7485 | 8728 | 5329 | 6810 | 8369 | 9750 | 5883 | 8136 | 11235 |
| CFO/OP | 860 | 1435 | 1754 | 1219 | 1202 | 2076 | 1809 | 1436 | 1757 | 5438 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | — | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conversion Cycle | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -93 | -1158 | -1149 | -1338 | -1042 | -1241 | -1402 | -1172 | -1368 | -1382 |
| ROCE % | 25 | 19 | 19 | 16 | 18 | 10 | 12 | 10 | 8 | 3 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 6.52% | 6.52% | 6.52% | 6.52% | 3.34% | 3.34% | 1.74% | 1.74% | 1.71% | 1.25% | 1.25% | 1.25% |
| FIIs | 51.54% | 21.86% | 47.71% | 46.6% | 46.24% | 47.5% | 44.75% | 44.72% | 44.78% | 45.14% | 47.88% | 48.06% |
| DIIs | 35.1% | 36.06% | 39.92% | 40.74% | 44% | 42.69% | 47.3% | 47.29% | 47.26% | 47.35% | 44.75% | 44.34% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 4.67% | 4.21% | 4.35% | 4.53% | 4.59% | 4.65% | 4.58% | 4.57% | 4.56% | 4.53% | 4.46% | 4.65% |
| Others | 2.17% | 31.33% | 1.5% | 1.6% | 1.84% | 1.82% | 1.62% | 1.68% | 1.69% | 1.74% | 1.66% | 1.7% |
| No. of Shareholders | 63966 | 59682 | 65260 | 67021 | 65804 | 68531 | 68062 | 80467 | 76239 | 75636 | 77069 | 80336 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1514.23 | Sell |
| EMA (10) | 1508.61 | Sell |
| SMA (20) | 1544.97 | Sell |
| EMA (20) | 1525.61 | Sell |
| SMA (50) | 1543.58 | Sell |
| EMA (50) | 1548.43 | Sell |
| SMA (100) | 1585.72 | Sell |
| EMA (100) | 1575.52 | Sell |
| SMA (200) | 1634.68 | Sell |
| EMA (200) | 1577.67 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 39.06 | Neutral |
| MACD (12,26,9) | -17.43 | Sell |
| Stochastic (14,3,3) | 12.82 | Buy |
| ADX (14) | 19.15 | Neutral |
| Williams %R (14) | -83.65 | Buy |
| ATR (14) | 36.79 | Neutral |
| ROC (12) | -7.69 | Sell |
| Stoch RSI (14) | 9.3 | Buy |
| UO (7,14,28) | 49.8 | Neutral |

## Analyst Ratings

| Recommendation | Analysts | Share |
| --- | --- | --- |
| Buy | 26 | 100% |
| Hold | 0 | 0% |
| Sell | 0 | 0% |

Based on 26 analyst ratings, observed at 2026-09-11T04:50:56.186658+00:00.

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Apr - Board approved up to ₹389 crore infusion by Axis Bank in Axis Max Life; fund raise cut to ₹1,600 crore. | [Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations') 9 Apr - Board approved up to ₹389 crore infusion by Axis Bank in Axis Max Life; fund raise cut to ₹1,600 crore.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2344e97a-fc2b-4a68-99d1-b2cafab90af2.pdf) |
| 9 Apr - April 9, 2026: Max Financial confirms no borrowings; not a Large Corporate under SEBI debt circular. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 9 Apr - April 9, 2026: Max Financial confirms no borrowings; not a Large Corporate under SEBI debt circular.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6341ac30-b189-4ae5-b9fd-b0410eab2c58.pdf) |
| 7 May - Axis Max Life director Mitsuru Yasuda resigned May 6, 2026; Toru Nakabayashi appointed May 7, 2026. | [Disclosure Under The Extant Provisions Of Regulation 30 Of SEBI (LODR) Regulations, 2015 ('SEBI LODR') Regarding Axis Max Life Insurance Limited, The Material Subsidiary Of The Company 7 May - Axis Max Life director Mitsuru Yasuda resigned May 6, 2026; Toru Nakabayashi appointed May 7, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/5790e5a3-9bad-411c-b5dc-f38777aba698.pdf) |
| 7 Mar - Board meeting on March 12, 2026 to approve capital raise for Axis Max Life. | [Board Meeting Intimation for Prior Intimation Of The Meeting Of The Board ('Board') Of Max Financial Services Limited ('Company') Pursuant To Regulation 29(1)(D) Of The SEBI(LODR) Regulations, 2015 ('Listing Regulations') 7 Mar - Board meeting on March 12, 2026 to approve capital raise for Axis Max Life.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ceecae1b-8759-45ee-9189-26d4ee95e901.pdf) |
| 7 Mar - Board meeting Mar 12 to consider equity/convertible issuance to fund Axis Max Life; trading window closed Mar 7–14. | [Closure of Trading Window 7 Mar - Board meeting Mar 12 to consider equity/convertible issuance to fund Axis Max Life; trading window closed Mar 7–14.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/20cbb670-32b1-401f-bc82-5094564978e1.pdf) |
| 6 Mar - Proposed amalgamation of Max Financial with AMLI to list AMLI; listing deadlines Dec 31, 2026 and Apr 5, 2027. | [Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations') 6 Mar - Proposed amalgamation of Max Financial with AMLI to list AMLI; listing deadlines Dec 31, 2026 and Apr 5, 2027.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/a9b8e8fc-0e55-4f0e-a3f4-a203aedd240b.pdf) |
| 6 Apr - RTA confirmation certificate for dematerialisation processing for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Apr - RTA confirmation certificate for dematerialisation processing for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6e02ed74-efe2-4c5a-a6a4-040c5069c953.pdf) |
| 5h - IRDAI approved Subrat Mohanty as Axis Max Life Chairman from May 8, 2026 for five years. | [Disclosure Under The Extant Provisions Of Regulation 30 Of SEBI (LODR) Regulations, 2015 ('SEBI LODR') 5h - IRDAI approved Subrat Mohanty as Axis Max Life Chairman from May 8, 2026 for five years.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/e5f7c014-9f4f-4375-b3b7-a86565326400.pdf) |
| 4 May - MFSL schedules Q4 & FY26 earnings conference call on May 13, 2026 at 9:00 a.m. IST. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 May - MFSL schedules Q4 & FY26 earnings conference call on May 13, 2026 at 9:00 a.m. IST.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fa6bad05-7482-4499-88a1-3ffe851b845f.pdf) |
| 4 May - MFSL schedules Q4 & FY26 earnings conference call on May 13, 2026 at 9:00 a.m. IST. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 May - MFSL schedules Q4 & FY26 earnings conference call on May 13, 2026 at 9:00 a.m. IST.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fa6bad05-7482-4499-88a1-3ffe851b845f.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=14388df1-f9e9-44dc-8fe2-17d4906d0e69.pdf) |
| 2026-08-25 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a6a71255-4930-4092-baf8-e6aa63105946.pdf) |
| 2026-08-25 | [Disclosure Under The Extant Provisions Of The SEBI (Listing Obligations And Disclosure Requirements Regulations) 2015 (SEBI Listing Regulations) On Receipt Of Final Order From SEBI In Relation To The Show Cause Notice Issued On October 24 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9466d38e-5396-40b8-8628-accebb3a5b3f.pdf) |
| 2026-08-20 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3be0e2f0-5e60-42b1-95fa-56803817b438.pdf) |
| 2026-08-19 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bed8ed7e-214c-4dc1-9039-6b7388250a3f.pdf) |
| 2026-08-15 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9e914a36-efb7-43ad-8819-59b86ee504c1.pdf) |
| 2026-08-13 | [Board Meeting Outcome for Outcome Of Board Meeting - Approval Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=85f53dfb-c7b0-4cee-9de6-a85dc9a70b4e.pdf) |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=af13c611-d6f1-4d49-89e8-653893ffeaf8.pdf) |
| 2026-08-13 | [Disclosure Under The Provisions Of Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI LODR)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=786b84a9-d054-4d18-b843-0b265b336f97.pdf) |
| 2026-08-13 | [Submission Of Link To The Audio Recording Of Earnings Conference Call](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=703940e2-b75e-4279-a7d6-6b0e6abf4364.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2026-08-20 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=824a461a-3ce1-4681-9117-8f6d666b30ab.pdf) |
| 2026-02-18 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=48652a41-58e5-4219-9807-e9b87890feed.pdf) |
| 2025-11-18 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2b2fd1bc-5640-41da-b46b-f8acc8737dc8.pdf) |
| 2025-08-14 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cea038de-c362-4cfb-8083-9fb82d0e9d0c.pdf) |
| 2025-05-19 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=03e0954b-9755-4083-b274-c4cb015b9dd0.pdf) |
| 2025-02-11 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5d34b5aa-8726-4300-931b-09f1213c760b.pdf) |
| 2024-12-05 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=13121db0-4c6f-447a-86ec-670f9df793f9.pdf) |
| 2024-10-28 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=eae104fd-a719-4cbe-9ded-bdc698b9bc30.pdf) |
| 2024-08-21 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f5f4948e-1906-4bf9-be50-a23b6e3ce205.pdf) |
| 2024-05-13 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=33d02e77-eaf6-43e8-bde4-7830468d6bb9.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-13 | [Approval Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2cba78c0-2f33-4bf9-ae35-0f91e0c39181.pdf) |
| 2026-05-12 | [Approval Of Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3ecfb33c-dc61-47e5-8a9e-823b212e611d.pdf) |
| 2026-02-11 | [Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=22fbfd01-03b1-4fb3-b965-cf8e0de96f0e.pdf) |
| 2025-11-11 | [Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7dbbc925-37d9-4caf-a142-bf8ab87d5d38.pdf) |
| 2025-08-07 | [Unaudited Financial Results For The Quarter Ended June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f071a436-3378-41b3-aca5-a2203154f508.pdf) |
| 2025-05-13 | [Financial Results For The Quarter And Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=de03b71e-4aa8-4f25-a506-1233658ec53e.pdf) |
| 2025-02-04 | [Declaration Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1d575642-a9d5-481d-838d-4ad3d6137335.pdf) |
| 2024-10-22 | [Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Financial Results For The Quarter And Half Year Ended September 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b0bc8737-1487-402d-ba50-c4aef88dbfd6.pdf) |
| 2024-08-13 | [Outcome Of Board Meeting On Approval Of Financial Results For The Quarter Ended June 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=063d63f7-a623-4c8f-b439-3b850649f9ac.pdf) |
| 2024-05-07 | [Disclosure Under SEBI (LODR) Regulations, 2015 - Outcome Of Board Meeting On Approval Of Financial Results For The Financial Year Ended March 31, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6052deea-7f83-452e-9a4b-e8a77385af03.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b86b79c9-9a2b-4213-802c-13d2f27d6b63.pdf) |
| 2026-05-12 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=53d648b1-b5b2-4876-9f15-1c2c0c4cbbdc.pdf) |
| 2026-03-18 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=522f2f35-af31-4ae4-9fd1-3a99c1c7cee5.pdf) |
| 2026-02-11 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=62fa6452-f544-4780-9411-a687b65318d3.pdf) |
| 2026-02-11 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=04ede94f-c4e7-4f66-950f-26d555bed5b4.pdf) |
| 2025-11-11 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=43866810-d24b-4f0c-91f5-659f7752e2d5.pdf) |
| 2025-08-07 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b9bc38ae-f114-4a4a-9e51-88fed0552dc2.pdf) |
| 2025-05-13 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=580c396a-6fbe-4097-924e-3aa9131f5a69.pdf) |
| 2025-02-04 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c9bf8c39-7a26-4c2f-871c-0af0218a616d.pdf) |
| 2024-10-22 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=837823cb-e4fa-4889-b89a-e43eb2c4bc92.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/eae104fd-a719-4cbe-9ded-bdc698b9bc30.pdf) |
| Oct 2022 | [Concall - Oct 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1e591a28-1f0a-4606-b292-99d168ffd270.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2b2fd1bc-5640-41da-b46b-f8acc8737dc8.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/85c1a546-5334-4fc6-8209-83d720b83339.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/53d648b1-b5b2-4876-9f15-1c2c0c4cbbdc.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/53d648b1-b5b2-4876-9f15-1c2c0c4cbbdc.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/03e0954b-9755-4083-b274-c4cb015b9dd0.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/977b3b3b-4959-41f6-806a-2b511557a7f0.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/33d02e77-eaf6-43e8-bde4-7830468d6bb9.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c7ee1086-2785-46f4-8bed-b5e3e6c001ae.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b5bf9b5d-2076-46f0-bde6-03fc0dbf9453.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/013cb7b8-58c1-4c3c-8375-17b803cdf910.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9575d68b-390e-4c32-a07f-b7f1af7bf40b.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/461fcd19-ce52-4410-9c3f-378dbf4ee603.pdf) |

### Earnings Call Recordings

| Date | Document |
| --- | --- |
| 2023-05-15 | [Disclosure Under Listing Regulations - Submission Of Audio Recording Of Earnings Conference Call](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d0656f82-6854-4f6b-8dd2-dc94a8ee87d5.pdf) |
| 2022-10-20 | [Disclosure Under Listing Regulations - Submission Of Audio Recording Of Earnings Conference Call](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=50260e44-70dc-4c19-8e27-df4a82f86389.pdf) |
| 2022-08-02 | [Submission Of Audio Recording Of Earnings Conference Call](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=427246ef-8a20-4f03-832c-6676c6ff5db1.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:14:10.153Z.