About Max India Limited
Data last updated: 25 September 2026
Max India Limited is a public limited company based in Mumbai, Maharashtra, India, recognised as a startup by DPIIT. It specialises in business and IT consulting, a part of the broader business process outsourcing sector. Incorporated on 23 January 2019, the company has been in operation for over 7 years.
Registered with ROC Mumbai under CIN L74999MH2019PLC320039. Listed on BSE: 543223 and NSE: MAXIND.
Capital: an authorised share capital of ₹60.05 Cr and a paid-up capital of ₹52.45 Cr. Formerly known as Advaita Allied Health Services Limited. It is led by directors including Rajit Mehta and Mohit Talwar.
Last AGM: 03 September 2025. Financial statements filed for year ended 31 March 2025. Office: 167 Floor 1 Plot – 167A Ready Money Mansion Dr. Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹225.71 Cr, a growth of 22.41% compared to the previous year. The net worth stands at ₹408.31 Cr (up 13.83% YoY). Total assets are valued at ₹516.65 Cr (up 9.23% YoY).
Its group structure includes 5 subsidiaries.
As per MCA filings, the company has satisfied charges of ₹245 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website maxindia.com.
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EmailLocked
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TelephoneLocked
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Website
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Social Media
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Registered Address167 Floor 1 Plot – 167A Ready Money Mansion Dr. Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018
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IndustryBusiness Outsourcing, Business & IT Consulting
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Max India Limited
Max India Limited has one previous CIN (Corporate Identification Number): U74999MH2019PLC320039. The current CIN is L74999MH2019PLC320039, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74999MH2019PLC320039 | Current |
| U74999MH2019PLC320039 | Previous |
Business Activity of Max India Limited
Max India Limited is engaged in multiple principal business activities such as financial and insurance service, real estate, and professional, scientific and technical. The company has 4 registered principal business activity segments, demonstrating its operational diversity and market reach.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K2 | Activities by Trusts, funds and other financial holding companies | Locked |
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
| L | Real Estate | L1 | Real estate activities with own or leased property | Locked |
| M | Professional, Scientific and Technical | M3 | Management consultancy activities | Locked |
Business activity turnover details for Max India Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Max India Limited
Max India Limited is audited by Ravi Rajan & Co. Llp for the financial year 2024. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Ravi Rajan & Co. Llp | Locked | Locked | Locked |
Complete auditor history for Max India Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors and KMP of Max India Limited
Max India Limited currently reports 9 directors and 1 key managerial person. 6 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
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Rajit Mehta
Also directs:
Antara Purukul Senior Living Limited, Antara Senior Living Limited, Antara Assisted Care Services Limited and 5 more
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Managing Director | 15 Jan 2021 | 5 Years 8 Months | Current |
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Mohit Talwar
Also directs:
Axis Max Life Insurance Limited
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Director | 15 Jan 2021 | 5 Years 8 Months | Current |
| Niten Malhan | Director | 01 Feb 2021 | 5 Years 7 Months | Current |
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Rohit Kapoor
Also directs:
Oxyzo Financial Services Limited
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Director | 25 May 2022 | 4 Years 4 Months | Current |
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Tara Singh Vachani
Also directs:
Max Ventures Investment Holdings Private Limited, Siva Realty Ventures Private Limited, Southend Houses Private Limited and 5 more
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Director | 01 Jun 2020 | 6 Years 3 Months | Current |
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Pradeep Pant
Also directs:
Axis Max Life Insurance Limited
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Director | 01 Jun 2020 | 6 Years 3 Months | Current |
Financials of Max India Limited FY 2025-26 filings available
Max India Limited reported revenue of ₹225.71 Cr (up 22.41% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 226 | 184 | 200 | 212 | 233 | 128 | 213 |
| Revenue growth | +5.4% | +24.5% | +18.8% | -15.3% | +50.1% | -40.5% | +9997.0% |
| EBITDA | (88.71) | (114) | (39.49) | 9.98 | (4.79) | (30.66) | (53.08) |
| EBITDA margin | -39.3% | -61.8% | -19.7% | +4.7% | -2.1% | -24.0% | -24.9% |
| Profit before tax | (121) | (139) | (49.03) | (3.00) | (18.03) | (63.77) | 237 |
| Net profit | (126) | (127) | (55.32) | (10.89) | (11.12) | (45.23) | (296) |
| Net profit margin | -55.8% | -69.1% | -27.6% | -5.1% | -4.8% | -35.4% | -138.7% |
| EPS (₹) | (23.20) | (32.21) | (13.06) | (2.41) | (3.00) | (9.88) | 55.23 |
| Balance sheet | |||||||
| Total assets | 517 | 473 | 549 | 595 | 709 | 806 | 897 |
| Net worth | 408 | 359 | 492 | 542 | 641 | 653 | 706 |
| Total debt | 96.21 | 102 | 43.56 | 45.29 | 60.76 | 145 | 182 |
| Cash & bank | 77.07 | 110 | 209 | 92.93 | 23.34 | 24.11 | 12.23 |
| Net working capital | 211 | 67.96 | 157 | 237 | 242 | 228 | 300 |
| Cash flow | |||||||
| Cash from operations | (94.72) | (128) | (102) | 69.42 | 66.50 | 72.67 | (18.98) |
| Cash from investing | (49.71) | 46.82 | 159 | 124 | 17.50 | 12.52 | (526) |
| Cash from financing | 148 | (12.55) | (29.00) | (119) | (93.94) | (73.31) | 557 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59.74 | 65.63 | 43.10 | 45.16 | 36.67 | 41.52 | 34.74 | 42.77 |
| Revenue growth (YoY) | +62.9% | +58.1% | +24.1% | +5.6% | +38.6% | -7.8% | -14.6% | -13.1% |
| Other income | 8.88 | 6.41 | 6.71 | 5.01 | 12.55 | 3.95 | 4.90 | 5.46 |
| EBITDA | (34.38) | (15.21) | (38.59) | (31.04) | (27.92) | (41.17) | (42.24) | (21.15) |
| EBITDA margin | -57.5% | -23.2% | -89.5% | -68.7% | -76.1% | -99.2% | -121.6% | -49.5% |
| Depreciation | 7.37 | 7.30 | 6.09 | 5.94 | 5.77 | 5.25 | 5.03 | 4.61 |
| Interest | 2.72 | 2.76 | 3.45 | 4.06 | 3.52 | 2.83 | 2.04 | 1.70 |
| Profit before tax | (35.59) | (18.86) | (41.42) | (36.03) | (24.66) | (45.30) | (44.41) | (22.00) |
| Tax | 0.69 | 0.43 | 1.43 | (1.96) | 0.98 | 0.79 | 0.19 | 0.73 |
| Net profit | (36.28) | (19.29) | (42.85) | (34.07) | (25.64) | (46.09) | (44.60) | (22.73) |
| EPS (₹) | (6.91) | (3.67) | (8.17) | (6.52) | (5.44) | (10.67) | (10.03) | (5.27) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 10.95 | 20.54 | 31.29 | 32.75 | 33.71 | 38.96 | 73.61 |
| Revenue growth | -7.7% | -20.7% | +15.2% | -0.7% | -38.7% | -79.6% | +9997.0% |
| EBITDA | (9.07) | (1.14) | 3.94 | 9.00 | 9.80 | (0.02) | (118) |
| EBITDA margin | -82.8% | -5.6% | +12.6% | +27.5% | +29.1% | -0.1% | -159.9% |
| Profit before tax | (3.43) | (4.47) | 1.64 | 11.31 | 7.61 | (2.61) | (120) |
| Net profit | (9.62) | (3.86) | 1.32 | 8.71 | 6.26 | 18.51 | (13.15) |
| Net profit margin | -87.9% | -18.8% | +4.2% | +26.6% | +18.6% | +47.5% | -17.9% |
| EPS (₹) | (0.30) | (0.95) | 0.29 | 2.83 | 1.17 | 1.61 | (22.92) |
| Balance sheet | |||||||
| Total assets | 1,040 | 875 | 875 | 860 | 937 | 931 | 924 |
| Net worth | 1,033 | 865 | 864 | 858 | 936 | 928 | 919 |
| Total debt | 4.42 | 4.90 | 5.50 | 0.79 | 0.15 | 0.65 | 0.73 |
| Cash & bank | 39.98 | 0.21 | 73.65 | 0.32 | 0.36 | 0.92 | 0.41 |
| Net working capital | 75.33 | (6.80) | 148 | 231 | 253 | 120 | 63.61 |
| Cash flow | |||||||
| Cash from operations | (24.22) | (8.98) | (17.02) | (17.38) | (7.96) | 18.84 | (0.05) |
| Cash from investing | (138) | 7.71 | 16.72 | 109 | 7.84 | (18.17) | 0.00 |
| Cash from financing | 166 | 1.27 | 0.17 | (91.81) | (0.45) | (0.17) | 0.05 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.51 | 1.76 | 3.13 | 3.14 | 2.85 | 3.30 | 4.59 | 5.41 |
| Revenue growth (YoY) | -47.0% | -46.7% | -31.8% | -42.0% | -51.1% | -57.3% | -39.5% | -29.6% |
| Other income | 0.03 | 0.10 | 0.01 | 0.04 | 8.56 | 0.15 | 0.07 | 0.09 |
| Total expenses | 5.03 | 5.48 | 5.27 | 5.64 | 4.19 | 5.99 | 4.99 | 5.20 |
| EBITDA | (3.52) | (3.72) | (2.14) | (2.50) | (1.34) | (2.69) | (0.40) | 0.21 |
| EBITDA margin | -233.1% | -211.4% | -68.4% | -79.6% | -47.0% | -81.5% | -8.7% | +3.9% |
| Depreciation | 0.25 | 0.26 | 0.28 | 0.35 | 0.38 | 0.38 | 0.80 | 0.82 |
| Interest | 0.12 | 0.08 | 0.13 | 0.13 | 0.83 | 0.20 | 0.20 | 0.20 |
| Profit before tax | (3.86) | (3.96) | (2.54) | (2.94) | 6.01 | (3.12) | (1.33) | (0.72) |
| Tax | (0.08) | (0.28) | 0.66 | (2.52) | 0.30 | 0.27 | (0.38) | 0.02 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59.74 | 65.63 | 43.10 | 45.16 | 36.67 | 41.52 | 34.74 | 42.77 |
| Revenue growth (YoY) | +62.9% | +58.1% | +24.1% | +5.6% | +38.6% | -7.8% | -14.6% | -13.1% |
| Other income | 8.88 | 6.41 | 6.71 | 5.01 | 12.55 | 3.95 | 4.90 | 5.46 |
| EBITDA | (34.38) | (15.21) | (38.59) | (31.04) | (27.92) | (41.17) | (42.24) | (21.15) |
| EBITDA margin | -57.5% | -23.2% | -89.5% | -68.7% | -76.1% | -99.2% | -121.6% | -49.5% |
| Depreciation | 7.37 | 7.30 | 6.09 | 5.94 | 5.77 | 5.25 | 5.03 | 4.61 |
| Interest | 2.72 | 2.76 | 3.45 | 4.06 | 3.52 | 2.83 | 2.04 | 1.70 |
| Profit before tax | (35.59) | (18.86) | (41.42) | (36.03) | (24.66) | (45.30) | (44.41) | (22.00) |
| Tax | 0.69 | 0.43 | 1.43 | (1.96) | 0.98 | 0.79 | 0.19 | 0.73 |
| Net profit | (36.28) | (19.29) | (42.85) | (34.07) | (25.64) | (46.09) | (44.60) | (22.73) |
| EPS (₹) | (6.91) | (3.67) | (8.17) | (6.52) | (5.44) | (10.67) | (10.03) | (5.27) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 226 | 184 | 200 | 212 | 233 | 128 | 213 |
| Revenue growth | +5.4% | +24.5% | +18.8% | -15.3% | +50.1% | -40.5% | +9997.0% |
| Other income | 6.65 | 2.33 | 5.28 | 1.70 | 4.13 | 1.66 | 325 |
| Total expenses | 314 | 298 | 240 | 202 | 238 | 159 | 266 |
| Employee cost | 94.76 | 96.57 | 78.20 | 54.32 | 57.79 | 88.43 | 106 |
| EBITDA | (88.71) | (114) | (39.49) | 9.98 | (4.79) | (30.66) | (53.08) |
| EBITDA margin | -39.3% | -61.8% | -19.7% | +4.7% | -2.1% | -24.0% | -24.9% |
| Depreciation | 25.10 | 18.82 | 10.15 | 8.45 | 7.09 | 10.37 | 8.34 |
| Interest | 13.79 | 8.06 | 4.67 | 6.23 | 10.28 | 24.40 | 27.09 |
| Profit before tax | (121) | (139) | (49.03) | (3.00) | (18.03) | (63.77) | 237 |
| Tax | 0.88 | 1.81 | 7.35 | 7.38 | (1.90) | (10.66) | 5.22 |
| Net profit | (126) | (127) | (55.32) | (10.89) | (11.12) | (45.23) | (296) |
| Net profit margin | -55.8% | -69.1% | -27.6% | -5.1% | -4.8% | -35.4% | -138.7% |
| EPS (₹) | (23.20) | (32.21) | (13.06) | (2.41) | (3.00) | (9.88) | 55.23 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 52.52 | 43.59 | 43.17 | 43.03 | 53.79 | 53.79 | 53.79 |
| Reserves & surplus | 306 | 305 | 440 | 495 | 586 | 599 | 652 |
| Shareholders' funds (net worth) | 408 | 359 | 492 | 542 | 641 | 653 | 706 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 1.75 | 1.43 | 1.18 | 22.41 | 40.36 | 122 | 171 |
| Unsecured loans | 94.46 | 101 | 42.38 | 22.88 | 20.40 | 22.38 | 11.70 |
| Total debt | 96.21 | 102 | 43.56 | 45.29 | 60.76 | 145 | 182 |
| Total liabilities | 517 | 473 | 549 | 595 | 709 | 806 | 897 |
| Assets | |||||||
| Gross block | 305 | 258 | 274 | 239 | 233 | 228 | 210 |
| Net block | 194 | 170 | 193 | 159 | 159 | 156 | 144 |
| Capital work in progress | 2.28 | 20.69 | 9.68 | 0.00 | 0.00 | 0.00 | 0.53 |
| Investments | 33.97 | 53.33 | 63.46 | 83.46 | 178 | 334 | 414 |
| Inventories | 15.52 | 16.64 | 6.13 | 51.01 | 130 | 249 | 226 |
| Sundry debtors | 37.10 | 22.08 | 4.94 | 2.86 | 5.71 | 7.42 | 14.08 |
| Cash & bank balances | 77.07 | 110 | 209 | 92.93 | 23.34 | 24.11 | 12.23 |
| Loans & advances | 234 | 78.42 | 71.43 | 248 | 232 | 135 | 175 |
| Total current assets | 363 | 227 | 292 | 394 | 392 | 416 | 427 |
| Total current liabilities | 153 | 159 | 134 | 157 | 149 | 188 | 127 |
| Net working capital | 211 | 67.96 | 157 | 237 | 242 | 228 | 300 |
| Total assets | 517 | 473 | 549 | 595 | 709 | 806 | 897 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 22.70 | 116 | 88.73 | 13.78 | 23.73 | 12.23 | 0.00 |
| Net cash from operating activities | (94.72) | (128) | (102) | 69.42 | 66.50 | 72.67 | (18.98) |
| Net cash from investing activities | (49.71) | 46.82 | 159 | 124 | 17.50 | 12.52 | (526) |
| Net cash from financing activities | 148 | (12.55) | (29.00) | (119) | (93.94) | (73.31) | 557 |
| Net change in cash | 3.89 | (93.34) | 27.30 | 74.94 | (9.94) | 11.88 | 12.23 |
| Closing cash | 77.07 | 110 | 209 | 92.93 | 23.34 | 24.11 | 12.23 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +22.4% | -7.9% | -5.4% | -9.2% | +82.4% | -40.0% | +9997.0% |
| EBITDA growth | +22.2% | -188.7% | - | +9998.0% | +84.4% | +42.2% | +9997.0% |
| PBT growth | +12.7% | -182.6% | -1534.3% | +83.4% | +71.7% | - | +9997.0% |
| Net income growth | +1.2% | -130.5% | -408.0% | +2.1% | +75.4% | +84.7% | +9997.0% |
| Revenue CAGR (3Y) | +2.2% | -7.5% | +16.1% | -0.2% | - | - | - |
| EBITDA CAGR (3Y) | - | +187.7% | +8.8% | - | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | -54.0% | -76.1% | -28.2% | -4.9% | -6.9% | -41.5% | +108.6% |
| Return on capital employed | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -37.3% |
| Return on net worth | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -51.2% |
| Debt / equity | 0.26 | 0.17 | 0.09 | 0.09 | 0.16 | 0.24 | 0.26 |
| Long-term debt / equity | 0.24 | 0.16 | 0.08 | 0.08 | 0.13 | 0.19 | 0.21 |
| Interest cover | -12.12 | -6.07 | -9.41 | 407.19 | -86.53 | -59.47 | -44.11 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.83 | 0.70 | 0.80 | 0.90 | 1.03 | 0.59 | 2.56 |
| Inventory turnover | 14.45 | 16.40 | 7.19 | 2.35 | 1.25 | 0.55 | 2.38 |
| Debtors turnover | 7.85 | 13.82 | 52.70 | 49.82 | 36.17 | 12.05 | 38.25 |
| EPS (₹) | (23.20) | (32.21) | (13.06) | (2.41) | (3.00) | (9.88) | 55.23 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 68.23 | 79.95 | 111.97 | 125.15 | 118.99 | 121.44 | 131.18 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.51 | 1.76 | 3.13 | 3.14 | 2.85 | 3.30 | 4.59 | 5.41 |
| Revenue growth (YoY) | -47.0% | -46.7% | -31.8% | -42.0% | -51.1% | -57.3% | -39.5% | -29.6% |
| Other income | 0.03 | 0.10 | 0.01 | 0.04 | 8.56 | 0.15 | 0.07 | 0.09 |
| Total expenses | 5.03 | 5.48 | 5.27 | 5.64 | 4.19 | 5.99 | 4.99 | 5.20 |
| EBITDA | (3.52) | (3.72) | (2.14) | (2.50) | (1.34) | (2.69) | (0.40) | 0.21 |
| EBITDA margin | -233.1% | -211.4% | -68.4% | -79.6% | -47.0% | -81.5% | -8.7% | +3.9% |
| Depreciation | 0.25 | 0.26 | 0.28 | 0.35 | 0.38 | 0.38 | 0.80 | 0.82 |
| Interest | 0.12 | 0.08 | 0.13 | 0.13 | 0.83 | 0.20 | 0.20 | 0.20 |
| Profit before tax | (3.86) | (3.96) | (2.54) | (2.94) | 6.01 | (3.12) | (1.33) | (0.72) |
| Tax | (0.08) | (0.28) | 0.66 | (2.52) | 0.30 | 0.27 | (0.38) | 0.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 10.95 | 20.54 | 31.29 | 32.75 | 33.71 | 38.96 | 73.61 |
| Revenue growth | -7.7% | -20.7% | +15.2% | -0.7% | -38.7% | -79.6% | +9997.0% |
| Other income | 8.08 | 0.25 | 0.97 | 4.79 | 0.14 | 0.25 | 0.69 |
| Total expenses | 20.02 | 21.68 | 27.35 | 23.75 | 23.91 | 38.98 | 191 |
| Employee cost | 9.48 | 12.23 | 12.60 | 10.02 | 9.79 | 9.49 | 28.69 |
| EBITDA | (9.07) | (1.14) | 3.94 | 9.00 | 9.80 | (0.02) | (118) |
| EBITDA margin | -82.8% | -5.6% | +12.6% | +27.5% | +29.1% | -0.1% | -159.9% |
| Depreciation | 1.28 | 2.78 | 2.68 | 2.24 | 2.17 | 2.68 | 3.08 |
| Interest | 1.16 | 0.80 | 0.59 | 0.24 | 0.16 | 0.16 | 0.05 |
| Profit before tax | (3.43) | (4.47) | 1.64 | 11.31 | 7.61 | (2.61) | (120) |
| Tax | (1.84) | (0.31) | 0.41 | (0.85) | 1.33 | (11.27) | 3.09 |
| Net profit | (9.62) | (3.86) | 1.32 | 8.71 | 6.26 | 18.51 | (13.15) |
| Net profit margin | -87.9% | -18.8% | +4.2% | +26.6% | +18.6% | +47.5% | -17.9% |
| EPS (₹) | (0.30) | (0.95) | 0.29 | 2.83 | 1.17 | 1.61 | (22.92) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 52.52 | 43.59 | 43.17 | 43.03 | 53.79 | 53.79 | 53.79 |
| Reserves & surplus | 935 | 814 | 821 | 815 | 882 | 874 | 865 |
| Shareholders' funds (net worth) | 1,033 | 865 | 864 | 858 | 936 | 928 | 919 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 4.42 | 4.90 | 5.50 | 0.79 | 0.15 | 0.65 | 0.73 |
| Total debt | 4.42 | 4.90 | 5.50 | 0.79 | 0.15 | 0.65 | 0.73 |
| Total liabilities | 1,040 | 875 | 875 | 860 | 937 | 931 | 924 |
| Assets | |||||||
| Gross block | 7.93 | 10.37 | 113 | 107 | 106 | 102 | 97.30 |
| Net block | 5.58 | 6.98 | 103 | 99.23 | 99.19 | 97.82 | 93.81 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 956 | 779 | 623 | 523 | 577 | 675 | 735 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.03 | 0.88 | 0.17 | 0.61 | 0.36 | 3.54 | 4.71 |
| Cash & bank balances | 39.98 | 0.21 | 73.65 | 0.32 | 0.36 | 0.92 | 0.41 |
| Loans & advances | 38.21 | 2.08 | 79.07 | 237 | 259 | 119 | 66.15 |
| Total current assets | 78.22 | 3.17 | 153 | 238 | 260 | 124 | 71.27 |
| Total current liabilities | 2.89 | 9.97 | 5.14 | 6.92 | 6.72 | 3.53 | 7.66 |
| Net working capital | 75.33 | (6.80) | 148 | 231 | 253 | 120 | 63.61 |
| Total assets | 1,040 | 875 | 875 | 860 | 937 | 931 | 924 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.21 | 0.20 | 0.32 | 0.36 | 0.92 | 0.41 | 0.00 |
| Net cash from operating activities | (24.22) | (8.98) | (17.02) | (17.38) | (7.96) | 18.84 | (0.05) |
| Net cash from investing activities | (138) | 7.71 | 16.72 | 109 | 7.84 | (18.17) | 0.00 |
| Net cash from financing activities | 166 | 1.27 | 0.17 | (91.81) | (0.45) | (0.17) | 0.05 |
| Net change in cash | 3.55 | 0.01 | (0.12) | (0.03) | (0.56) | 0.50 | 0.00 |
| Closing cash | 39.98 | 0.21 | 73.65 | 0.32 | 0.36 | 0.92 | 0.41 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -46.7% | -34.4% | -4.5% | -2.9% | -13.5% | -47.1% | +9997.0% |
| EBITDA growth | -695.6% | - | -56.2% | -8.2% | +9998.0% | +100.0% | +9997.0% |
| PBT growth | +23.3% | - | -85.5% | +48.6% | +9998.0% | +97.8% | +9997.0% |
| Net income growth | -149.2% | - | -84.9% | +39.1% | -66.2% | +9998.0% | +9997.0% |
| Revenue CAGR (3Y) | -30.6% | -15.2% | -7.1% | -23.7% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | -14.5% | -20.3% | +3.9% | +37.1% | +18.6% | +22.2% | -167.4% |
| Return on capital employed | 0.0% | 0.0% | +0.2% | +0.7% | +0.7% | +1.1% | -0.8% |
| Return on net worth | 0.0% | 0.0% | +0.1% | +0.9% | +0.6% | +1.9% | -1.4% |
| Debt / equity | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -11.21 | -20.41 | 46.83 | 3.55 | 2.10 | -5.93 | -0.04 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.08 | 0.34 | 0.29 | 0.35 | 0.33 | 0.39 | 0.76 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 41.82 | 39.60 | 82.72 | 77.40 | 17.36 | 9.51 | 15.77 |
| EPS (₹) | (0.30) | (0.95) | 0.29 | 2.83 | 1.17 | 1.61 | (22.92) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 187.98 | 196.83 | 200.13 | 199.36 | 173.95 | 172.54 | 170.89 |
Shareholding Pattern of Max India Limited
As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 49.80%, foreign institutional investors hold 7.10%, domestic institutional investors hold 1.60%, retail and other public shareholders hold 41.50% of Max India Limited.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |
|---|---|---|---|---|
| Promoters | 49.80% | 49.80% | 49.90% | 50.00% |
| Public | 50.20% | 50.20% | 50.10% | 50.00% |
Group Structure of Max India Limited
Max India Limited has 5 subsidiary companies. This group structure data is as of FY 2024. The corporate group structure reflects Max India Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| Antara Bangalore Senior Living Limited | U68100DL1994PLC060700 | - |
| Antara Purukul Senior Living Limited | U74120UR1995PLC018283 | - |
| Antara Senior Living Limited | U74140DL2011PLC218781 | - |
| Antara Assisted Care Services Limited | U74140DL2012PLC244411 | - |
| Max Skill First Limited | U85199DL2003PLC119249 | - |
Showing major subsidiaries. Total: 5.
Charges & Borrowings of Max India Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Mar 2022 | Others | ₹75 Cr | Satisfied |
| 26 Oct 2020 | Others | ₹170 Cr | Satisfied |
Total charge records: 2 View all charges
Employees and EPFO Compliance at Max India Limited
Max India Limited has a workforce of 0 employees as of Apr 08, 2025.
Employee and EPFO history for Max India Limited
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GST Compliance of Max India Limited
GST registrations and filing compliance for Max India Limited
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Credit Ratings, Litigation & Regulatory Alerts for Max India Limited
Credit ratings, litigation, and regulatory alerts for Max India Limited
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MSME Payment Delays by Max India Limited
MSME payment history for Max India Limited
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Subsidiaries & Group Companies of Max India Limited
Corporate group structure for Max India Limited
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MCA Filings & Documents of Max India Limited
MCA filings and documents for Max India Limited
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Recent Activity on Max India Limited
Recent News on Max India Limited
Frequently Asked Questions about Max India Limited
Max India Limited is an active public limited company in the business outsourcing sector based in Mumbai, Maharashtra, India. It was incorporated on 23 January 2019 (7+ years old) and is registered under CIN L74999MH2019PLC320039. Listed on BSE: 543223 and NSE: MAXIND.
Max India Limited reported revenue of ₹225.71 Cr for FY 2025-26 (up 22.41% YoY) based on consolidated financials.
The current directors and KMP of Max India Limited are:
- Rajit Mehta - Managing Director
- Mohit Talwar - Director
- Niten Malhan - Director
- Rohit Kapoor - Director
- Tara Singh Vachani - Director
- Pradeep Pant - Director
- Sharmila Tagore - Director
- Analjit Singh - Director
- Ajit Singh - Director
- Sandeep Pathak - Cfo
The primary industry of Max India Limited is business outsourcing. The company specifically operates in business and IT consulting. The company is currently active in this sector.
Yes. Max India Limited is listed on both BSE (code: 543223) and NSE (symbol: MAXIND).
Yes, Max India Limited is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).