Max Financial Services FY26 Revenue ₹38,039 Cr; VNB Up 26% to ₹2,647 Cr
Max Financial Services reported FY26 consolidated revenue of ₹38,039 crore, up 17% YoY. Axis Max Life's Individual Adjusted First Year Premium grew 19% to ₹9,885 crore, with VNB increasing 26% to ₹2,647 crore. Market share rose to 10.4%. Assets Under Management reached ₹1.89 lakh crore.
The announcement provides key financial results for the full fiscal year, including revenue, profit, premium growth, and market share, which are material information for investors.
The company reported strong year-on-year growth in revenue, premium income, and profitability metrics like VNB and APE. Market share also increased.
Max Financial Services Limited (MFSL) announced its financial results for the fiscal year 2026 (FY’26), reporting a consolidated revenue, excluding investment income, of ₹38,039 crore, marking a 17% year-on-year growth. The consolidated revenue including investment income stood at ₹47,696 crore, with a consolidated Profit After Tax (PAT) of ₹106 crore for FY’26.
Axis Max Life Insurance, a subsidiary of MFSL, demonstrated strong performance with a 19% year-on-year growth in Individual Adjusted First Year Premium, reaching ₹9,885 crore. This growth led to an increase in private market share by 56 basis points to 10.4%. The Annualized Premium Equivalent (APE) saw a 20% YoY growth. The company secured 60 new business partnerships during the fiscal.
Axis Max Life's renewal premium grew by 16% to ₹24,374 crore, contributing to a Gross Written Premium of ₹38,877 crore, an increase of 17% YoY. The Value of New Business (VNB), a key profitability metric, grew by 26% YoY to ₹2,647 crore. New business margins improved to 25.2% from 24.0% in the previous year. The Embedded Value reached ₹28,871 crore, a 15% increase, with an Operating RoEV of 18.7%. The Assets Under Management (AUM) grew by 8% YoY to ₹1.89 lakh crore.
Sumit Madan, Managing Director and CEO of Axis Max Life, highlighted the company's double-digit growth in Individual Adjusted FYP, outpacing the private industry growth and expanding market share. The key financial highlights for Axis Max Life include Individual Adjusted FYP of ₹9,885 crore, Total APE of ₹10,502 crore, Gross Written Premium of ₹38,877 crore, and VNB of ₹2,647 crore for FY’26.
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Max Financial Services Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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