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MFSL Q4 Results 2024
MFSL's Q4 2024 results show how the company performed financially from January to March. Though total income increased, both operating profit and net income saw notable declines from the previous quarter.
by S Samayanka
Published May 08, 2024 | Updated May 08, 2024 | 📖 4 min read
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MFSL
The Max Group includes Max Financial Services Ltd. A joint venture between Max Financial Services Limited and Axis Bank Limited is Max Life Insurance Company Limited. Max Financial Services Limited is a company in India that works with money and insurance.
They help people plan for the future by offering insurance and saving options. They believe in being helpful, good at what they do, and honest. They also care about the community and help kids learn and get jobs.
The company shares information openly with people who invest in it and has won awards for treating its employees well. Their stock, which is like a small piece of the company you can buy, has been doing well, but the people who own the company have borrowed against their shares more than before.
MFSL Q4 Results 2024
The MFSL Q4 Results 2024 show how well Max Financial Services Limited did from January to March 2024. The results were checked by the Audit Committee and approved by the Board of Directors.
They include the company's financial health and any changes in its ownership or taxes. It is like a report card for how the company is doing at the end of this quarter.
|
Fiscal Period |
Mar 23 |
Dec 22 |
QoQ Comp |
|
Total Revenue |
9,904.44 |
8,877.49 |
11.57% |
|
Selling/General/Admin Expenses Total |
8.29 |
10.02 |
-17.31% |
|
Depreciation/ Amortization |
47.99 |
23.01 |
108.57% |
|
Other Operating Expenses Total |
-18.68 |
-8.74 |
113.77% |
|
Total Operating Expense |
9,825.80 |
8,556.59 |
14.83% |
|
Operating Income |
78.65 |
320.90 |
-75.49% |
|
Net Income Before Taxes |
58.45 |
314.54 |
-81.42% |
|
Net Income |
45.90 |
224.94 |
-79.60% |
|
Diluted Normalized EPS |
1.33 |
6.52 |
-79.53% |
|
Exchange |
Price |
Change |
Change (%) |
Volume |
|
BSE |
986.25 |
+15.55 |
+1.60% |
43.70 K |
|
NSE |
983.11 |
+3.45 |
+1.39% |
3.59 M |
MFSL Q4 Results 2024 Highlights
The highlights of Max Financial Services’ Q4 results for 2024 are as follows:
- Total Income: ₹9,904.44 Cr, which is an increase of 11.57% compared to the previous quarter
- Operating Profit: ₹78.65 Cr, a significant decrease of -75.49% from the last quarter.
- Profit After Tax (PAT): ₹45.90 Cr, showing a decrease of -79.60% from the previous quarter.
- Operating Margin: Stood at 0.79%, which is -78.03% lower than the last quarter.
- The company’s sales grew by 49.94% to ₹14,887.81 crore in the quarter ended March 2024, compared to the same period in the previous year.
- The consolidated revenue also saw a year-on-year increase of 50%, coming in at ₹14,899 crore.
- There have been changes in shareholding, with Axis Entities now holding 19.02% of Max Life's equity share capital, reducing the company's shareholding to 80.98%.
- The financial results account for tax refunds received by Max Life from past assessment years.
Consolidated Segmentwise Revenue For The Quarter
|
Particulars |
3 months ended March 31, 2024 |
3 months ended December 31, 2023. |
3 months ended March 31, 2023 |
Year ended March 31, 2024 |
|
Segment Revenue |
||||
|
a) Life Insurance |
14,884.99 |
12,352.93 |
9,922.78 |
46,565.72 |
|
b) Business Investments |
6.94 |
7.36 |
10.64 |
30.92 |
|
Total |
14,891.93 |
12,360.29 |
9,933.42 |
46,596.64 |
|
Intersegment elimination (net) |
4.12 |
4.62 |
4.05 |
20.42 |
|
Revenue from operations (net) |
14,887.81 |
12,355.67 |
9,929.37 |
46,576.22 |
|
Segments Results |
||||
|
a) Life Insurance |
(55.18) |
208.26 |
64.39 |
427.26 |
|
b) Business Investments |
(4.11) |
0.36 |
(1.55) |
(10.87) |
|
Total |
(59.29) |
208.62 |
62.84 |
416.39 |
|
Inter segment elimination (net) |
- |
- |
- |
- |
|
Sub-total |
(59.29) |
208.62 |
62.84 |
416.39 |
|
Unallocated |
(0.10) |
(10.65) |
(4.40) |
(1.57) |
|
Profit before tax |
(59.39) |
197.97 |
58.44 |
414.82 |
|
Provision for taxation (includes provision for Deferred Tax) |
(9.31) |
26.76 |
5.99 |
22.24 |
|
Profit for the period/ year |
(50.08) |
171.21 |
52.45 |
392.58 |
Consolidated Balance Sheet of MFSL 2024
|
Particulars |
As of March 31, 2024 (Audited) |
As of March 31, 2023 (Audited) |
|
A ASSETS |
||
|
1. Financial assets |
||
|
(a) Cash and cash equivalents |
858.12 |
1,120.37 |
|
(b) Bank balance other than (a) above |
47.81 |
57.47 |
|
(c) Receivables - Trade receivables |
0.05 |
- |
|
(d) Investments |
5,880.68 |
5,430.88 |
|
(e) Other financial assets |
172.57 |
220.49 |
|
(f) Life Insurance Policyholders' Fund |
1,53,478.00 |
1,22,782.99 |
|
Total financial assets |
1,60,437.23 |
1,29,612.20 |
|
2. Non-financial Assets |
||
|
(a) Current tax assets (net) |
17.61 |
15.78 |
|
(b) Deferred tax assets (net) |
2.34 |
3.86 |
|
(c) Investment Property |
83.82 |
85.34 |
|
(d) Property, plant and equipment |
1.06 |
1.90 |
|
(e) Goodwill |
525.25 |
525.25 |
|
(f) Other Intangible assets |
0.35 |
- |
|
(g) Right to use assets |
1.85 |
1.95 |
|
(h) Other non-financial assets |
330.83 |
266.98 |
|
(i) Life Insurance Policyholders' Fund |
1,373.14 |
1,310.52 |
|
Total non-financial assets |
2,336.25 |
2,211.58 |
|
Total assets |
1,62,773.48 |
1,31,823.78 |
|
B LIABILITIES AND EQUITY |
||
|
I LIABILITIES |
||
|
1. Financial liabilities |
||
|
(a) Payables |
||
|
(I)Trade Payables |
||
|
(i) Total outstanding dues of micro enterprises and small enterprises |
0.20 |
1.87 |
|
(ii) Total outstanding dues of creditors other than micro enterprises and small enterprises |
1,460.32 |
1,698.43 |
|
(b) Debt Securities |
520.70 |
520.66 |
|
(c) Lease liability |
1.87 |
1.97 |
|
(d) Other financial liabilities |
781.95 |
855.30 |
|
(e) Life Insurance Policyholders' Fund |
1,54,751.44 |
1,23,934.33 |
|
Total financial liabilities |
1,57,516.48 |
1,27,012.56 |
|
2. Non-financial liabilities |
||
|
(a) Provisions |
58.69 |
48.36 |
|
(b) Deferred tax liabilities (net) |
5.88 |
0.01 |
|
(c) Other non-financial liabilities |
815.90 |
785.50 |
|
(d) Life Insurance Policyholders' Fund |
6.99 |
8.85 |
|
Total non-financial liabilities |
887.46 |
842.72 |
|
Total liabilities |
1,58,403.94 |
1,27,855.28 |
|
II EQUITY |
||
|
(a) Equity share capital |
68.73 |
68.72 |
|
(b) Other equity |
3,797.20 |
3,449.52 |
|
Equity attributable to owners of the Company |
3,865.93 |
3,518.24 |
|
Non Controlling Interest |
503.61 |
450.26 |
|
Total equity |
4,369.54 |
3,968.50 |
|
Total liabilities and equity |
1,62,773.48 |
1,31,823.78 |
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MFSL Q4 Results 2024 - FAQs
1. What does MFSL stand for?
MFSL stands for Max Financial Services Limited, a company in India that deals with money and insurance.
2. What is Max Life Insurance Company Limited?
It's a joint venture between Max Financial Services Limited and Axis Bank Limited, providing life insurance services.
3. How did MFSL perform in Q4 2024?
Total income increased by 11.57%, but operating profit and net income decreased.
4. Who checks and approves MFSL's financial results?
The Audit Committee reviews them, and the Board of Directors approves them.
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