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Is Max Financial Services Ltd. Shariah Compliant? | BarakFi | BarakFi
NIFTY 5023,842.75+0.54%SENSEX78,553.20+0.54%NIFTY BANK51,236.80-0.17%NIFTY IT33,156.40+0.75%NIFTY PHARMA19,872.35+0.28%NIFTY AUTO23,145.90-0.48%NIFTY FMCG56,234.15+0.32%INDIA VIX13.42-2.75%NIFTY 5023,842.75+0.54%SENSEX78,553.20+0.54%NIFTY BANK51,236.80-0.17%NIFTY IT33,156.40+0.75%NIFTY PHARMA19,872.35+0.28%NIFTY AUTO23,145.90-0.48%NIFTY FMCG56,234.15+0.32%INDIA VIX13.42-2.75%
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MFSLNSE

Max Financial Services Ltd.

Financial Services · Large Cap · India
₹1,665.1
▼ ₹61.7 (-3.57%) today
Day Range: ₹1,653.6 – ₹1,689.3
Volume: 8.1 L · as of 1 Jun 2026, 7:14 am
Shariah Status
Requires Review
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Last screened 29 May 2026, 7:36 pm IST.
Methodology
AAOIFI aligned · 2026.04.2
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Requires Review
Compliance
Market Data
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Shariah Compliance Breakdown
Debt Ratio
Interest-bearing debt compared to methodology denominator (AAOIFI: total assets). Must stay below 30%.
Disclaimer:The information on this page is for educational purposes only and does not constitute a religious ruling (fatwa) or financial advice. Shariah compliance status is derived from publicly available financial data and BarakFi's methodology mapping. Individual scholars may reach different conclusions. Always consult a qualified Islamic finance scholar and a licensed financial advisor before making investment decisions.
BarakFi
Shariah-compliant stock research for Indian equities. Educational only.
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MethodologyAbout
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© 2026 BarakFi · Educational screening · Not a religious ruling or financial adviceMade in India
Threshold: 30%
0.9%
Pass
Interest Income
Interest and treasury-based income as a share of business income. Must stay below 5%.
Threshold: 5%
1.3%
Pass
Non-permissible Income
Non-halal income compared to total business income. Must stay below 5%.
Threshold: 5%
Not detected
Pass
Accounts Receivable
Receivables compared to methodology denominator (AAOIFI: total assets). Must stay below 49%.
Threshold: 49%
Not disclosed
Borderline
Business Activity
Core business lines should avoid prohibited sectors and interest-driven revenue dependence.
Allowed
Pass
Cash & Interest-bearing Assets
Cash, equivalents, and interest-bearing balances compared to total assets. Must stay below 30%.
Threshold: 30%
1.1%
Pass
Why Requires Review
Max Financial Services Ltd. currently screens as requires review on BarakFi. Additional verification is needed for Receivables ratio. Receivables ratio: Receivables ratio could not be computed from disclosed fields.
Market Data
Current Price
₹1,665.1
Day Range
₹1,653.6 – ₹1,689.3
52-Week Range
₹1,433.6 – ₹1,892.5
Volume
8.1 L
Market Cap
₹57,493 Cr
P/E Ratio
398.9×
About Max Financial Services Ltd.

Max Financial Services Ltd is a leading Indian financial services holding company focused primarily on life insurance. The company derives most of its value from its majority stake in Axis Max Life Insurance, one of India’s prominent private life insurers. Its business model centers on long-term insurance underwriting, premium growth, and investment income through its subsidiary. Axis Max Life offers protection, savings, retirement, child, and wealth-linked insurance products. Distribution is driven by a diversified mix of agency, bancassurance, and digital channels. Max Financial Services plays a strategic and governance role rather than selling products directly to customers.

BarakFi combines that company context with filing-driven screening ratios, market-cap evidence, and live quote snapshots so you can review the stock through a Shariah-screening lens without losing the underlying business picture.

Index and universe context: Nifty 500 • Nifty MIDCAP 100.

Financial ServicesLarge CapIndiaNSENifty 500Nifty MIDCAP 100
Other Stocks in Financial Services
HDFCBANK
HDFC Bank Ltd.
Not Compliant
SBIN
State Bank of India
Not Compliant
ICICIBANK
ICICI Bank Ltd.
Not Compliant
BAJFINANCE
Bajaj Finance Ltd.
Not Compliant
LICI
Life Insurance Corporation of India
Requires Review
Key Compliance Ratios
Debt Ratio0.9%
Interest Income1.3%
Non-permissible IncomeNot detected
Receivables RatioNot disclosed
Overall StatusRequires Review
Stock Information
TickerMFSL
ExchangeNSE
SectorFinancial Services
CountryIndia
Market Cap₹57,493 Cr
36M Avg MCap₹41,859 Cr
Cap SizeLarge Cap
About this Screening
This page uses an AAOIFI-aligned methodology version 2026.04.2, checking debt, interest income, non-permissible income, receivables, and balance-sheet context from the current filings dataset.

This is educational only — not a religious ruling or financial advice. Read the full methodology for threshold context and update cadence.

Read full methodology →
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