Promoter holding
64.27%
MF
Max Financial Services Limited - Due diligence report
A 360° intelligence report on Maxindia: trust score, financial health, credit view, compliance, directors, growth and distress signals - gen…
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Maxindia — 360° Intelligence Report
Generated from MCA filings & public records64/100
Trust Score
Moderate
Maxindia is assessed as Moderate with a Trust Score of 64/100. Maxindia is an active public limited indian non-government company incorporated in 1988, operating in the Financial Services sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and low financial risk profile.
Report generated on 09 Jul 2026 from the latest processed filings. Max Financial Services Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
64/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
46/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
75/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
60/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
45/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
85/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
65/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 60/100 Moderate
- Liabilities ≈ 38% EBITDA - stretched.
- Moderate gearing (D/E 1.42).
- Profitable - internal accruals available.
Charges position: 2 open (5.35 cr) · 36 satisfied (549.95 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Indusind Bank Ltd. | 2 | 48.0 cr |
| Kotak Mahindra Bank Limited | 3 | 48.0 cr |
| Yes Bank Limited | 3 | 48.0 cr |
| Punjab National Bank | 3 | 48.0 cr |
| Icici Ltd. | 1 | 48.0 cr |
| Il & Fs Trust Co. Ltd. | 1 | 48.0 cr |
Compliance Score: 46/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: BSE.
- Litigation present in 2 court forum(s).
- 1 auditor resignation(s) filed - latest: Deloitte Haskins & Sells LLP on 2023-05-12.
- 3 active GST registration(s).
Legal cases on record (2)
05
Director Intelligence
Stability score: 45/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| PIYUSH SONI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MALINI THADANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SAHIL VACHANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| HIDEAKI NOMURA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MITSURU YASUDA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AMRIT SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NARASIMHA MURTHY KUMMAMURI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| JAI ARYA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ANALJIT SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VENKATRAMAN KRISHNAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| CHARLES RICHARD VERNON STAGG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Siddhi Suneja | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 12 directors on the board.
- CHARLES RICHARD VERNON STAGG has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 2 director exit(s) in the last 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2022)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2025 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
1
Group entities
1
Capital events
45 allotment(s) · 0 transfer(s)
Promoters hold the largest single block of equity - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Max Life Insurance Company Limited | Subsidiary Company | 74.00% |
Key managerial personnel: AMRIT SINGH (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 85 · Distress 65
Growth signals & trust indicators
Steady revenue growth: +2.1x over 4 year(s).
Profit expanded 24% year-on-year.
Asset base grew 0.86 - capacity expansion.
Net margin improved to 61%.
EPFO headcount growing - hiring signal.
Operating for 38+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Outside liabilities up 38% in a year.
Compliance score is weak (46/100).
2 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
2 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence57/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 2 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment61/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 2 open charge(s) of 5.35 cr already registered.
- Compliance gaps should be priced into terms.
Investor view76/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 5 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events03 Oct 2025
Director appointed
Siddhi Suneja (Company Secretary)
18 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
13 Dec 2024
Director ceased
MALINI THADANI
01 Dec 2024
Director appointed
MALINI THADANI (Director)
31 Oct 2024
Director ceased
GAURI PADMANABHAN
01 Jul 2023
Director appointed
PIYUSH SONI (Company Secretary)
Director appointed
VENKATRAMAN KRISHNAN (Manager)
01 May 2022
Director appointed
AMRIT SINGH (CFO)
30 Apr 2022
Director ceased
MANDEEP MEHTA
30 Sep 2021
Director ceased
JATIN KHANNA
08 Jul 2021
Securities allotted
8003 Equity Shares - 32.37 Lakh raised
25 Apr 2021
Securities allotted
8003 Equity Shares - 32.37 Lakh raised
Securities allotted
8463 Equity Shares - 32.36 Lakh raised
30 Mar 2021
Director appointed
NARASIMHA MURTHY KUMMAMURI (Director)
10
Key Observations
Auto-generated from the data aboveRevenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
12 active director(s) / partner(s); review board churn before relying on management continuity.
3 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 1 subsidiary(ies) - assess on a consolidated basis.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold the largest single block of equity as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 45 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Dhruvdesh Investments Private Limited | U74930KA1997PTC189453 | Bangalore North, Karnataka, India |
| Max India | L74999MH2019PLC320039 | Mumbai, Maharashtra, India |
| C R I Amalgamations | U70101TZ2005PTC011989 | Coimbatore, Tamil Nadu, India |
| Ranegroup | L35999TN1936PLC002202 | Chennai, Tamil Nadu, India |
| Suguna Holdings | U51100TZ2008PTC014318 | Coimbatore, Tamil Nadu, India |
| Godrejindustries | L24241MH1988PLC097781 | Mumbai, Maharashtra, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Maxindia before audits and certifications: compliance score 46/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Maxindia: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Mixed indicators - deeper appraisal suggested. Credit risk score 60/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 85/100, margin trends, ownership structure and peer set for Maxindia - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 64/100, distress signals and MSME payment-delay disclosures - know whether Maxindia pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (2 case(s) on record), regulatory flags, charge documents trail and director networks for Maxindia - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Maxindia an active company?
Maxindia has MCA status “Active” with a compliance score of 46/100 (Caution Indicated).
Is Maxindia financially healthy?
Maxindia has a Financial Health Score of 75/100 (Low Risk) based on its filed financial statements.
Should I do business with Maxindia?
Its overall Trust Score is 64/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Maxindia?
Promoters hold the largest single block of equity - exact percentages are in the full report. 12 active director(s) are on record.
Does Maxindia have loans or charges against its assets?
2 open charge(s) are registered against its assets, and 36 earlier charge(s) stand satisfied.
Is Maxindia up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 46/100 (Caution Indicated).
Is it risky to lend to Maxindia?
Its Credit Risk Score is 60/100 (Moderate). Banker verdict: Mixed indicators - deeper appraisal suggested.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
