Below are the financial statements of Max Financial Services, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of INR | 2025 | 2024 |
|---|---|---|
| Revenue from operations | — | — |
| Interest income | 5,219.23a | 3,702.95a |
| Dividend income | 62.93a | 31.95a |
| Rental income | 70.6a | 67.48a |
| Net gain on fair value changes | 783.06a | 735.6a |
| Policyholders' income from life insurance operations | 458,548.33a | 461,168.26a |
| Sale of services | 5a | 50a |
| Total revenue from operations | 464,689.15a | 465,756.23a |
| Other income | 283.29a | 379.19a |
| Total income | 464,972.44a | 466,135.42a |
| Expenses | — | — |
| Finance costs | -473.59a | -436.39a |
| Impairment on financial instruments | -14.24a | -49.18a |
| Employee benefits expenses | -282.13a | -308.95a |
| Depreciation, amortisation and impairment | -28.66a | -31.13a |
| Policyholders' expenses from life insurance operations | -458,879.9a | -460,751.16a |
| Other expenses | -821.26a | -495.9a |
| Total expenses | -460,471.3a | -461,974.34a |
| Profit before tax | 4,501.14a | 4,161.08a |
| Relating to other than revenue account of life insurance policyholders | — | — |
| Current tax | -610.9a | -494.56a |
| Deferred tax | -31.2a | -73.61a |
| Adjustment of tax relating to earlier periods | -208.51a | -342.55a |
| Total tax expense | -433.59a | -225.62a |
| Profit for the year from continuing operations | 4,067.55a | 3,935.46a |
| (Loss) from discontinued operations before tax | -30.43a | -12.7a |
| Tax income/(expense) on discontinued operations | -3.16a | 3.3a |
| (Loss) from discontinued operations after tax | -33.58a | -9.41a |
| Profit for the year | 4,033.97a | 3,926.05a |
| Profit for the year attributable to owners of the company | 3,272.28a | 3,401.07a |
| Non-controlling interests | 761.69a | 524.98a |
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