Max Financial Services Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 29455.43 Crore) operating in Financial Services sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 8990.28 Crore, up 28.06 % from last quarter Total Income of Rs 7020.11 Crore and up 67.55 % from last year same quarter Total Income of Rs 5365.74 Crore. Company reported net profit after tax of Rs 227.13 Crore in latest quarter.
Investment Rationale
The stock has delivered 44% returns since the announcement of this deal. It expects the re-rating to continue, given MAXLIFE’s strong business performance. It maintains Buy rating with a revised TP of INR 1,000 per share (3.3x FY23E EV), considering 80% stake for MAXF and 20% holding company discount.
Promoter/FII Holdings
Promoters held 17.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 19.7 per cent, DIIs 50.9 and public and others 12.2 per cent.
