About Max India Limited
Data last updated: 21 December 2025
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 NSE-filed consolidated financials for FY 2026, the company reported a revenue of ₹190.56 Cr, a growth of 30.98% compared to the previous year. The net worth stands at ₹408.3 Cr (up 13.83% YoY). Total assets are valued at ₹669.25 Cr (up 5.75% 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 (ICAI peer reviewed, certificate valid till 2028-05-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| Ravi Rajan & Co. LLP (ICAI peer reviewed, certificate valid till 2028-05-31) | FY 2026 | Declaration of unmodified opinion |
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 |
|---|---|---|---|---|
|
Rajit Mehta
Also directs:
Antara Purukul Senior Living Limited, Antara Senior Living Limited, Antara Assisted Care Services Limited and 5 more
|
Managing Director | 15 Jan 2021 | 5 Years 6 Months | Current |
|
Mohit Talwar
Also directs:
Axis Max Life Insurance Limited
|
Director | 15 Jan 2021 | 5 Years 6 Months | Current |
| Niten Malhan | Director | 01 Feb 2021 | 5 Years 6 Months | Current |
|
Rohit Kapoor
Also directs:
Oxyzo Financial Services Limited
|
Director | 25 May 2022 | 4 Years 2 Months | Current |
|
Tara Singh Vachani
Also directs:
Max Ventures Investment Holdings Private Limited, Siva Realty Ventures Private Limited, Southend Houses Private Limited and 5 more
|
Director | 01 Jun 2020 | 6 Years 2 Months | Current |
|
Pradeep Pant
Also directs:
Axis Max Life Insurance Limited
|
Director | 01 Jun 2020 | 6 Years 2 Months | Current |
Financials of Max India Limited FY 2026 filings available
Max India Limited reported revenue of ₹190.56 Cr (up 30.98% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹190.56 Cr | ₹145.49 Cr | ₹175.63 Cr | ₹201.03 Cr | ₹229.88 Cr | ₹86.99 Cr |
| Other Income | ₹22.8 Cr | ₹18.68 Cr | ₹19.11 Cr | ₹12.42 Cr | ₹7.56 Cr | ₹6.81 Cr |
| Total Income | ₹213.36 Cr | ₹164.17 Cr | ₹194.74 Cr | ₹213.45 Cr | ₹237.44 Cr | ₹93.8 Cr |
| Cost of Materials Consumed | ₹51.32 Cr | ₹43.28 Cr | ₹13.16 Cr | ₹4.48 Cr | ₹4.48 Cr | ₹85 Lakh |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹1.41 Cr | -₹10.56 Cr | ₹44.96 Cr | ₹79.24 Cr | ₹119.24 Cr | ₹8.42 Cr |
| Employee Benefit Expense | ₹94.76 Cr | ₹96.57 Cr | ₹78.2 Cr | ₹54.32 Cr | ₹57.79 Cr | ₹65.89 Cr |
| Finance Costs | ₹13.79 Cr | ₹8.06 Cr | ₹4.59 Cr | ₹6.23 Cr | ₹10.28 Cr | ₹7.77 Cr |
| Depreciation & Amortisation | ₹25.1 Cr | ₹18.82 Cr | ₹10.15 Cr | ₹8.45 Cr | ₹8.99 Cr | ₹19.89 Cr |
| Other Expenses | ₹148.93 Cr | ₹134.73 Cr | ₹93.81 Cr | ₹62.49 Cr | ₹49.61 Cr | ₹33.26 Cr |
| Total Expenses | ₹335.31 Cr | ₹290.9 Cr | ₹244.87 Cr | ₹215.21 Cr | ₹250.39 Cr | ₹136.08 Cr |
| Profit Before Exceptional Items & Tax | -₹121.95 Cr | -₹126.73 Cr | -₹50.13 Cr | -₹1.76 Cr | -₹12.95 Cr | -₹42.28 Cr |
| Exceptional Items | ₹4.78 Cr | -₹12.6 Cr | ₹2 Lakh | ₹0 | -₹5.13 Cr | -₹7.28 Cr |
| Profit Before Tax | -₹117.17 Cr | -₹139.33 Cr | -₹50.11 Cr | -₹1.76 Cr | -₹18.08 Cr | -₹49.56 Cr |
| Total Tax Expense | ₹88 Lakh | ₹1.81 Cr | ₹7.35 Cr | ₹7.38 Cr | -₹1.89 Cr | -₹6.47 Cr |
| Net Profit | -₹121.85 Cr | -₹140.39 Cr | -₹56.38 Cr | -₹10.4 Cr | -₹18.04 Cr | -₹43.64 Cr |
| attributable to Owners | -₹121.85 Cr | -₹139.18 Cr | -₹56.38 Cr | -₹10.4 Cr | -₹18.04 Cr | -₹43.64 Cr |
| attributable to NCI | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Comprehensive Income | ₹67 Lakh | ₹1.21 Cr | -₹17 Lakh | ₹30 Lakh | ₹59 Lakh | ₹32 Lakh |
| Total Comprehensive Income | -₹121.18 Cr | -₹139.18 Cr | -₹56.55 Cr | -₹10.1 Cr | -₹17.45 Cr | -₹43.32 Cr |
| EBITDA (computed) | -₹83.06 Cr | -₹99.85 Cr | -₹35.39 Cr | ₹12.92 Cr | ₹6.32 Cr | -₹14.62 Cr |
| Basic EPS | ₹-23.85 | ₹-32.50 | ₹-13.08 | ₹-2.18 | ₹-3.35 | ₹-8.11 |
| Diluted EPS | ₹-23.85 | ₹-32.50 | ₹-13.08 | ₹-2.17 | ₹-3.35 | ₹-8.11 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹669.25 Cr | ₹632.85 Cr | ₹684.34 Cr | ₹753.4 Cr |
| Non-current Assets | ₹288.69 Cr | ₹277.23 Cr | ₹341.09 Cr | ₹291.49 Cr |
| Current Assets | ₹380.56 Cr | ₹260.54 Cr | ₹343.25 Cr | ₹461.91 Cr |
| Property, Plant & Equipment | ₹96.73 Cr | ₹55.94 Cr | ₹71.79 Cr | ₹70.96 Cr |
| Inventories | ₹15.52 Cr | ₹16.64 Cr | ₹6.13 Cr | ₹51.01 Cr |
| Trade Receivables | ₹37.1 Cr | ₹22.2 Cr | ₹4.94 Cr | ₹2.86 Cr |
| Cash & Equivalents | ₹26.58 Cr | ₹22.7 Cr | ₹116.03 Cr | ₹88.73 Cr |
| Equity (Net Worth) | ₹408.3 Cr | ₹358.69 Cr | ₹492.34 Cr | ₹542.1 Cr |
| Equity Share Capital | ₹52.52 Cr | ₹43.59 Cr | ₹43.17 Cr | ₹43.03 Cr |
| Borrowings (Non-current) | ₹1.09 Cr | ₹94 Lakh | ₹82 Lakh | ₹22.34 Cr |
| Borrowings (Current) | ₹66 Lakh | ₹49 Lakh | ₹37 Lakh | ₹8 Lakh |
| Total Debt (computed) | ₹1.75 Cr | ₹1.43 Cr | ₹1.19 Cr | ₹22.42 Cr |
| Current Liabilities | ₹161.71 Cr | ₹165.25 Cr | ₹138.84 Cr | ₹161.48 Cr |
| Total Liabilities | ₹260.95 Cr | ₹274.16 Cr | ₹192 Cr | ₹211.3 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹94.72 Cr | -₹127.6 Cr | -₹102.34 Cr | ₹69.41 Cr | ₹66.5 Cr |
| Investing Cash Flow | -₹49.72 Cr | ₹46.82 Cr | ₹158.64 Cr | ₹124.08 Cr | ₹32.25 Cr |
| Financing Cash Flow | ₹148.32 Cr | -₹12.55 Cr | -₹29 Cr | -₹118.54 Cr | -₹93.94 Cr |
| Capital Expenditure | ₹51.33 Cr | ₹35.88 Cr | ₹28.75 Cr | ₹3.66 Cr | ₹3.02 Cr |
| Free Cash Flow (computed) | -₹146.05 Cr | -₹163.48 Cr | -₹131.09 Cr | ₹65.75 Cr | ₹63.48 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹3.88 Cr | -₹93.33 Cr | ₹27.3 Cr | ₹74.95 Cr | ₹4.81 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹65.63 Cr | ₹43.1 Cr | ₹45.16 Cr | ₹36.67 Cr | ₹41.52 Cr | ₹34.74 Cr | ₹42.77 Cr | ₹26.46 Cr | ₹45.04 Cr | ₹40.69 Cr | ₹49.23 Cr | ₹40.67 Cr |
| Other Income | ₹6.41 Cr | ₹6.71 Cr | ₹5.01 Cr | ₹4.67 Cr | ₹3.95 Cr | ₹4.35 Cr | ₹4.72 Cr | ₹5.66 Cr | ₹4.62 Cr | ₹3.84 Cr | ₹5.82 Cr | ₹4.83 Cr |
| Total Income | ₹72.04 Cr | ₹49.81 Cr | ₹50.17 Cr | ₹41.34 Cr | ₹45.47 Cr | ₹39.09 Cr | ₹47.49 Cr | ₹32.12 Cr | ₹49.66 Cr | ₹44.53 Cr | ₹55.05 Cr | ₹45.5 Cr |
| Cost of Materials Consumed | ₹11.24 Cr | ₹10.65 Cr | ₹13.62 Cr | ₹15.81 Cr | ₹17.55 Cr | ₹13.11 Cr | ₹8.44 Cr | ₹4.18 Cr | ₹5.28 Cr | ₹3.48 Cr | ₹2.92 Cr | ₹1.48 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹5.49 Cr | ₹2.18 Cr | ₹80 Lakh | -₹7.06 Cr | -₹3.74 Cr | -₹3.35 Cr | -₹3.11 Cr | -₹36 Lakh | ₹8.12 Cr | ₹8.17 Cr | ₹16.55 Cr | ₹12.12 Cr |
| Employee Benefit Expense | ₹19.3 Cr | ₹25.27 Cr | ₹25.14 Cr | ₹25.05 Cr | ₹26.39 Cr | ₹24 Cr | ₹22.74 Cr | ₹23.44 Cr | ₹22.23 Cr | ₹19.53 Cr | ₹17.94 Cr | ₹18.5 Cr |
| Finance Costs | ₹2.76 Cr | ₹3.45 Cr | ₹4.06 Cr | ₹3.52 Cr | ₹2.83 Cr | ₹2.04 Cr | ₹1.7 Cr | ₹1.49 Cr | ₹1.26 Cr | ₹1.36 Cr | ₹97 Lakh | ₹1 Cr |
| Depreciation & Amortisation | ₹7.3 Cr | ₹6.09 Cr | ₹5.94 Cr | ₹5.77 Cr | ₹5.25 Cr | ₹5.03 Cr | ₹4.61 Cr | ₹3.93 Cr | ₹2.98 Cr | ₹2.43 Cr | ₹2.34 Cr | ₹2.4 Cr |
| Other Expenses | ₹42.82 Cr | ₹39.53 Cr | ₹35.86 Cr | ₹30.72 Cr | ₹41.12 Cr | ₹30.62 Cr | ₹35.85 Cr | ₹27.14 Cr | ₹29.56 Cr | ₹26.85 Cr | ₹16.34 Cr | ₹21.06 Cr |
| Total Expenses | ₹88.91 Cr | ₹87.17 Cr | ₹85.42 Cr | ₹73.81 Cr | ₹89.4 Cr | ₹71.45 Cr | ₹70.23 Cr | ₹59.82 Cr | ₹69.43 Cr | ₹61.82 Cr | ₹57.06 Cr | ₹56.56 Cr |
| Profit Before Exceptional Items & Tax | -₹16.87 Cr | -₹37.36 Cr | -₹35.25 Cr | -₹32.47 Cr | -₹43.93 Cr | -₹32.36 Cr | -₹22.74 Cr | -₹27.7 Cr | -₹19.77 Cr | -₹17.29 Cr | -₹2.01 Cr | -₹11.06 Cr |
| Exceptional Items | -₹20 Lakh | -₹2.87 Cr | -₹3 Lakh | ₹7.88 Cr | ₹0 | -₹12.6 Cr | ₹0 | ₹0 | ₹2 Lakh | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹17.07 Cr | -₹40.23 Cr | -₹35.28 Cr | -₹24.59 Cr | -₹43.93 Cr | -₹44.96 Cr | -₹22.74 Cr | -₹27.7 Cr | -₹19.75 Cr | -₹17.29 Cr | -₹2.01 Cr | -₹11.06 Cr |
| Total Tax Expense | ₹43 Lakh | ₹1.43 Cr | -₹1.96 Cr | ₹98 Lakh | ₹79 Lakh | ₹19 Lakh | ₹73 Lakh | ₹10 Lakh | ₹1.26 Cr | ₹1.29 Cr | ₹2.89 Cr | ₹1.91 Cr |
| Net Profit | -₹19.29 Cr | -₹42.85 Cr | -₹34.07 Cr | -₹25.64 Cr | -₹46.09 Cr | -₹44.6 Cr | -₹22.73 Cr | -₹26.97 Cr | -₹21.57 Cr | -₹17.9 Cr | -₹4.7 Cr | -₹12.21 Cr |
| attributable to Owners | -₹19.29 Cr | -₹42.85 Cr | -₹34.07 Cr | -₹25.64 Cr | -₹45.61 Cr | -₹44.6 Cr | -₹22.73 Cr | -₹26.97 Cr | -₹21.57 Cr | -₹17.9 Cr | -₹4.7 Cr | -₹12.41 Cr |
| attributable to NCI | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Comprehensive Income | ₹1.18 Cr | ₹12 Lakh | -₹73 Lakh | ₹10 Lakh | ₹48 Lakh | ₹8 Lakh | ₹1.13 Cr | -₹48 Lakh | ₹17 Lakh | -₹5 Lakh | -₹36 Lakh | ₹7 Lakh |
| Total Comprehensive Income | -₹18.11 Cr | -₹42.73 Cr | -₹34.8 Cr | -₹25.54 Cr | -₹45.61 Cr | -₹44.52 Cr | -₹21.6 Cr | -₹27.45 Cr | -₹21.4 Cr | -₹17.95 Cr | -₹5.06 Cr | -₹12.14 Cr |
| EBITDA (computed) | -₹6.81 Cr | -₹27.82 Cr | -₹25.25 Cr | -₹23.18 Cr | -₹35.85 Cr | -₹25.29 Cr | -₹16.43 Cr | -₹22.28 Cr | -₹15.53 Cr | -₹13.5 Cr | ₹1.3 Cr | -₹7.66 Cr |
| Basic EPS | ₹-3.67 | ₹-8.17 | ₹-6.52 | ₹-5.44 | ₹-10.67 | ₹-10.33 | ₹-5.27 | ₹-6.25 | ₹-5.00 | ₹-4.15 | ₹-1.09 | ₹-2.84 |
| Diluted EPS | ₹-3.67 | ₹-8.17 | ₹-6.52 | ₹-5.44 | ₹-10.67 | ₹-10.33 | ₹-5.27 | ₹-6.25 | ₹-5.00 | ₹-4.15 | ₹-1.09 | ₹-2.84 |
| Segment · Q4 FY26 (latest quarter) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Senior Living | ₹31.99 Cr | ₹13.32 Cr | ₹360.57 Cr | ₹133.15 Cr |
| Assisted Care | ₹32.47 Cr | -₹28.14 Cr | ₹226.72 Cr | ₹117.99 Cr |
| Business Investments | ₹1.76 Cr | -₹4.31 Cr | ₹65.22 Cr | ₹9.8 Cr |
| Others | ₹0 | ₹6 Lakh | ₹1.51 Cr | ₹1 Lakh |
| Investment in joint ventures | ₹0 | ₹0 | ₹8.94 Cr | ₹0 |
| Non- Current Asset Held for Sale | ₹0 | ₹0 | ₹0 | ₹0 |
| Segment · FY 2026 (annual) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Senior Living | ₹73.45 Cr | -₹86 Lakh | - | - |
| Assisted Care | ₹108.41 Cr | -₹112.06 Cr | - | - |
| Business Investments | ₹10.88 Cr | -₹11.48 Cr | - | - |
| Others | ₹0 | -₹33 Lakh | - | - |
| Investment in joint ventures | ₹0 | ₹0 | - | - |
| Non- Current Asset Held for Sale | ₹0 | ₹0 | - | - |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹10.88 Cr | ₹19.13 Cr | ₹31.23 Cr | ₹32.54 Cr | ₹32.61 Cr | ₹33.66 Cr |
| Other Income | ₹83 Lakh | ₹1.66 Cr | ₹1.03 Cr | ₹50 Lakh | ₹1.25 Cr | ₹5.54 Cr |
| Total Income | ₹11.71 Cr | ₹20.79 Cr | ₹32.26 Cr | ₹33.04 Cr | ₹33.86 Cr | ₹39.2 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹9.48 Cr | ₹12.23 Cr | ₹12.6 Cr | ₹10.02 Cr | ₹9.79 Cr | ₹9.49 Cr |
| Finance Costs | ₹1.16 Cr | ₹80 Lakh | ₹59 Lakh | ₹24 Lakh | ₹16 Lakh | ₹16 Lakh |
| Depreciation & Amortisation | ₹1.28 Cr | ₹2.78 Cr | ₹2.68 Cr | ₹2.24 Cr | ₹2.17 Cr | ₹2.68 Cr |
| Other Expenses | ₹10.54 Cr | ₹9.49 Cr | ₹14.63 Cr | ₹13.73 Cr | ₹14.11 Cr | ₹16.46 Cr |
| Total Expenses | ₹22.46 Cr | ₹25.3 Cr | ₹30.5 Cr | ₹26.23 Cr | ₹26.23 Cr | ₹28.79 Cr |
| Profit Before Exceptional Items & Tax | -₹10.75 Cr | -₹4.51 Cr | ₹1.76 Cr | ₹6.81 Cr | ₹7.63 Cr | ₹10.41 Cr |
| Exceptional Items | ₹7.32 Cr | ₹5 Lakh | -₹12 Lakh | ₹4.5 Cr | ₹0 | -₹13.03 Cr |
| Profit Before Tax | -₹3.43 Cr | -₹4.46 Cr | ₹1.64 Cr | ₹11.31 Cr | ₹7.63 Cr | -₹2.62 Cr |
| Total Tax Expense | -₹1.84 Cr | -₹31 Lakh | ₹41 Lakh | -₹85 Lakh | ₹1.33 Cr | -₹11.27 Cr |
| Net Profit | -₹1.59 Cr | -₹4.15 Cr | ₹1.23 Cr | ₹12.16 Cr | ₹6.3 Cr | ₹8.65 Cr |
| Other Comprehensive Income | -₹17 Lakh | ₹12 Lakh | -₹8 Lakh | -₹8 Lakh | ₹21 Lakh | ₹19 Lakh |
| Total Comprehensive Income | -₹1.76 Cr | -₹4.03 Cr | ₹1.15 Cr | ₹12.08 Cr | ₹6.51 Cr | ₹8.84 Cr |
| EBITDA (computed) | -₹8.31 Cr | -₹93 Lakh | ₹5.03 Cr | ₹9.29 Cr | ₹9.96 Cr | ₹13.25 Cr |
| Basic EPS | ₹-0.31 | ₹-0.96 | ₹0.29 | ₹2.56 | ₹1.17 | ₹1.61 |
| Diluted EPS | ₹-0.31 | ₹-0.96 | ₹0.28 | ₹2.55 | ₹1.17 | ₹1.61 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹1,042.69 Cr | ₹885.94 Cr | ₹881.12 Cr | ₹868.36 Cr |
| Non-current Assets | ₹961.17 Cr | ₹767.2 Cr | ₹689.04 Cr | ₹576.54 Cr |
| Current Assets | ₹81.52 Cr | ₹23.66 Cr | ₹192.08 Cr | ₹291.82 Cr |
| Property, Plant & Equipment | ₹1.87 Cr | ₹2.55 Cr | ₹30.02 Cr | ₹30.28 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹3 Lakh | ₹88 Lakh | ₹17 Lakh | ₹61 Lakh |
| Cash & Equivalents | ₹3.76 Cr | ₹21 Lakh | ₹20 Lakh | ₹32 Lakh |
| Equity (Net Worth) | ₹1,032.89 Cr | ₹864.8 Cr | ₹863.99 Cr | ₹857.81 Cr |
| Equity Share Capital | ₹52.52 Cr | ₹43.59 Cr | ₹43.17 Cr | ₹43.03 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 | ₹0 | ₹0 |
| Current Liabilities | ₹3.28 Cr | ₹10.42 Cr | ₹5.74 Cr | ₹7.3 Cr |
| Total Liabilities | ₹9.8 Cr | ₹21.14 Cr | ₹17.13 Cr | ₹10.55 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹24.21 Cr | -₹9.32 Cr | -₹17 Cr | -₹17.38 Cr | -₹7.96 Cr |
| Investing Cash Flow | -₹138.36 Cr | ₹7.71 Cr | ₹16.71 Cr | ₹109.16 Cr | ₹18.4 Cr |
| Financing Cash Flow | ₹166.12 Cr | ₹1.62 Cr | ₹17 Lakh | -₹91.82 Cr | -₹45 Lakh |
| Capital Expenditure | ₹35 Lakh | ₹1.28 Cr | ₹1.14 Cr | ₹1.3 Cr | ₹6 Lakh |
| Free Cash Flow (computed) | -₹24.56 Cr | -₹10.6 Cr | -₹18.14 Cr | -₹18.68 Cr | -₹8.02 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹3.55 Cr | ₹1 Lakh | -₹12 Lakh | -₹4 Lakh | ₹9.99 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹1.76 Cr | ₹3.13 Cr | ₹3.14 Cr | ₹2.85 Cr | ₹3.3 Cr | ₹4.59 Cr | ₹5.41 Cr | ₹5.83 Cr | ₹7.72 Cr | ₹7.58 Cr | ₹7.68 Cr | ₹8.25 Cr |
| Other Income | ₹10 Lakh | ₹1 Lakh | ₹4 Lakh | ₹68 Lakh | ₹15 Lakh | ₹7 Lakh | ₹9 Lakh | ₹1.35 Cr | ₹2 Lakh | ₹17 Lakh | ₹5 Lakh | ₹79 Lakh |
| Total Income | ₹1.86 Cr | ₹3.14 Cr | ₹3.18 Cr | ₹3.53 Cr | ₹3.45 Cr | ₹4.66 Cr | ₹5.5 Cr | ₹7.18 Cr | ₹7.74 Cr | ₹7.75 Cr | ₹7.73 Cr | ₹9.04 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹1.72 Cr | ₹2.54 Cr | ₹2.49 Cr | ₹2.73 Cr | ₹3.14 Cr | ₹2.86 Cr | ₹3.07 Cr | ₹3.16 Cr | ₹4.13 Cr | ₹2.66 Cr | ₹2.56 Cr | ₹3.25 Cr |
| Finance Costs | ₹8 Lakh | ₹13 Lakh | ₹13 Lakh | ₹83 Lakh | ₹20 Lakh | ₹20 Lakh | ₹20 Lakh | ₹20 Lakh | ₹21 Lakh | ₹26 Lakh | ₹5 Lakh | ₹7 Lakh |
| Depreciation & Amortisation | ₹26 Lakh | ₹28 Lakh | ₹35 Lakh | ₹38 Lakh | ₹38 Lakh | ₹80 Lakh | ₹82 Lakh | ₹78 Lakh | ₹72 Lakh | ₹75 Lakh | ₹60 Lakh | ₹61 Lakh |
| Other Expenses | ₹3.73 Cr | ₹2.23 Cr | ₹3.12 Cr | ₹1.46 Cr | ₹2.85 Cr | ₹2.13 Cr | ₹2.13 Cr | ₹2.38 Cr | ₹3.86 Cr | ₹4.05 Cr | ₹3.27 Cr | ₹3.45 Cr |
| Total Expenses | ₹5.79 Cr | ₹5.18 Cr | ₹6.09 Cr | ₹5.4 Cr | ₹6.57 Cr | ₹5.99 Cr | ₹6.22 Cr | ₹6.52 Cr | ₹8.92 Cr | ₹7.72 Cr | ₹6.48 Cr | ₹7.38 Cr |
| Profit Before Exceptional Items & Tax | -₹3.93 Cr | -₹2.04 Cr | -₹2.91 Cr | -₹1.87 Cr | -₹3.12 Cr | -₹1.33 Cr | -₹72 Lakh | ₹66 Lakh | -₹1.18 Cr | ₹3 Lakh | ₹1.25 Cr | ₹1.66 Cr |
| Exceptional Items | -₹3 Lakh | -₹50 Lakh | -₹3 Lakh | ₹7.88 Cr | ₹0 | ₹0 | ₹0 | ₹5 Lakh | -₹7.4 Cr | ₹7.28 Cr | ₹0 | ₹0 |
| Profit Before Tax | -₹3.96 Cr | -₹2.54 Cr | -₹2.94 Cr | ₹6.01 Cr | -₹3.12 Cr | -₹1.33 Cr | -₹72 Lakh | ₹71 Lakh | -₹8.58 Cr | ₹7.31 Cr | ₹1.25 Cr | ₹1.66 Cr |
| Total Tax Expense | -₹28 Lakh | ₹66 Lakh | -₹2.52 Cr | ₹30 Lakh | ₹27 Lakh | -₹38 Lakh | ₹2 Lakh | -₹22 Lakh | -₹34 Lakh | -₹5 Lakh | ₹45 Lakh | ₹35 Lakh |
| Net Profit | -₹3.68 Cr | -₹3.2 Cr | -₹42 Lakh | ₹5.71 Cr | -₹3.39 Cr | -₹95 Lakh | -₹74 Lakh | ₹93 Lakh | -₹8.24 Cr | ₹7.36 Cr | ₹80 Lakh | ₹1.31 Cr |
| Other Comprehensive Income | ₹9 Lakh | ₹14 Lakh | -₹43 Lakh | ₹3 Lakh | ₹20 Lakh | ₹0 | -₹8 Lakh | ₹0 | -₹4 Lakh | ₹0 | -₹4 Lakh | ₹0 |
| Total Comprehensive Income | -₹3.59 Cr | -₹3.06 Cr | -₹85 Lakh | ₹5.74 Cr | -₹3.19 Cr | -₹95 Lakh | -₹82 Lakh | ₹93 Lakh | -₹8.28 Cr | ₹7.36 Cr | ₹76 Lakh | ₹1.31 Cr |
| EBITDA (computed) | -₹3.59 Cr | -₹1.63 Cr | -₹2.43 Cr | -₹66 Lakh | -₹2.54 Cr | -₹33 Lakh | ₹30 Lakh | ₹1.64 Cr | -₹25 Lakh | ₹1.04 Cr | ₹1.9 Cr | ₹2.34 Cr |
| Basic EPS | ₹-0.70 | ₹-0.61 | ₹-0.08 | ₹1.21 | ₹-0.78 | ₹-0.22 | ₹-0.18 | ₹0.22 | ₹-1.90 | ₹1.70 | ₹0.18 | ₹0.31 |
| Diluted EPS | ₹-0.70 | ₹-0.61 | ₹-0.08 | ₹1.20 | ₹-0.78 | ₹-0.22 | ₹-0.18 | ₹0.21 | ₹-1.89 | ₹1.69 | ₹0.18 | ₹0.30 |
Shareholding Pattern of Max India Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 49.82%, foreign institutional investors hold 7.07%, domestic institutional investors hold 1.63%, retail and other public shareholders hold 41.48% of Max India Limited. The company had 37,492 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | May 2025 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Promoters | 49.82% | 49.89% | 50.05% | 50.16% | 50.45% | 50.45% |
| Public | 50.18% | 50.11% | 49.95% | 49.84% | 49.55% | 49.55% |
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|---|
| Promoters | 49.82% | 50.45% | 50.94% | 51.11% | 40.89% | 40.89% |
| Public | 50.18% | 49.55% | 49.06% | 48.89% | 59.11% | 59.11% |
| Promoter change (YoY, %pts) | -0.63 | -0.49 | -0.17 | +10.22 | +0.00 | - |
Board & Governance of Max India Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Max India Limited has 8 directors - 4 independent and 1 executive. The board is chaired by Analjit Singh.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| Analjit Singh | Non-Executive - Non Independent Director · Chairperson | 2020-06-01 | 3 |
| Tara Singh Vachani | Non-Executive - Non Independent Director | 2020-06-01 | 1 |
| Mohit Talwar | Non-Executive - Non Independent Director | 2020-06-01 | 1 |
| Sharmila Tagore | Non-Executive - Independent Director | 2020-06-01 | 1 |
| Pradeep Pant | Non-Executive - Independent Director | 2020-06-01 | 1 |
| Rajit Mehta | Executive Director | 2021-01-15 | 2 |
| Niten Malhan | Non-Executive - Independent Director | 2021-02-01 | 3 |
| Ajit Singh | Non-Executive - Independent Director | 2022-05-25 | 1 |
| Rohit Kapoor | Non-Executive - Independent Director | 2022-05-25 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | Niten Malhan (Chairperson), Pradeep Pant, Sharmila Tagore, Tara Singh Vachani, Ajit Singh |
| Nomination and remuneration committee | Pradeep Pant (Chairperson), Analjit Singh, Tara Singh Vachani, Sharmila Tagore, Ajit Singh, Niten Malhan |
| Stakeholders Relationship Committee | Tara Singh Vachani (Chairperson), Niten Malhan, Mohit Talwar |
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
Monthly headcount, contribution history, establishment records, and filing compliance require an active report plan.
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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 ₹190.56 Cr for FY 2026 (up 30.98% YoY) based on consolidated NSE filings.
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).