Max Financial Services Limited (MFSL) - Cash Flow Conversion Efficiency

Latest as of September 2025: 0.262x

Based on the latest financial reports, Max Financial Services Limited (MFSL) has a cash flow conversion efficiency ratio of 0.262x as of September 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (Rs16.90 Billion ≈ $182.77 Million USD) by net assets (Rs64.51 Billion ≈ $697.68 Million USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations.

Max Financial Services Limited - Cash Flow Conversion Efficiency Trend (2004–2025)

This chart illustrates how Max Financial Services Limited's cash flow conversion efficiency has evolved over time, based on yearly financial data. Read MFSL liabilities breakdown for a breakdown of total debt and financial obligations.

Max Financial Services Limited Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Max Financial Services Limited ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
Cleveland-Cliffs Inc NYSE:CLF	-0.002x
EPAM Systems Inc NYSE:EPAM	0.077x
Reinet Investments S.C.A AS:REINA	0.025x
ISS A/S CO:ISS	0.007x
Axalta Coating Systems Ltd NYSE:AXTA	0.143x
ZALANDO SE UNSP.ADR /2 F:ZAL1	N/A
LB Group Co Ltd SHE:002601	0.039x
Sichuan Changhong Electric Co Ltd SHG:600839	0.070x

Annual Cash Flow Conversion Efficiency for Max Financial Services Limited (2004–2025)

The table below shows the annual cash flow conversion efficiency of Max Financial Services Limited from 2004 to 2025. For the full company profile with market capitalisation and key ratios, see MFSL company net worth.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2025-03-31	Rs64.03 Billion ≈ $692.49 Million	Rs83.52 Billion ≈ $903.22 Million	1.304x	-6.68%
2024-03-31	Rs43.70 Billion ≈ $472.55 Million	Rs61.07 Billion ≈ $660.44 Million	1.398x	-44.10%
2023-03-31	Rs39.69 Billion ≈ $429.18 Million	Rs99.22 Billion ≈ $1.07 Billion	2.500x	+31.99%
2022-03-31	Rs44.85 Billion ≈ $485.03 Million	Rs84.96 Billion ≈ $918.79 Million	1.894x	-20.79%
2021-03-31	Rs36.05 Billion ≈ $389.87 Million	Rs86.21 Billion ≈ $932.34 Million	2.391x	-28.80%
2020-03-31	Rs28.19 Billion ≈ $304.85 Million	Rs94.68 Billion ≈ $1.02 Billion	3.359x	+7.81%
2019-03-31	Rs28.33 Billion ≈ $306.39 Million	Rs88.26 Billion ≈ $954.50 Million	3.115x	+51.60%
2018-03-31	Rs33.83 Billion ≈ $365.82 Million	Rs69.51 Billion ≈ $751.74 Million	2.055x	+48.53%
2017-03-31	Rs30.84 Billion ≈ $333.48 Million	Rs42.66 Billion ≈ $461.38 Million	1.384x	-2.93%
2016-03-31	Rs26.68 Billion ≈ $288.49 Million	Rs38.02 Billion ≈ $411.18 Million	1.425x	+116.56%
2015-03-31	Rs39.19 Billion ≈ $423.83 Million	Rs25.79 Billion ≈ $278.95 Million	0.658x	+16.96%
2014-03-31	Rs38.70 Billion ≈ $418.54 Million	Rs21.78 Billion ≈ $235.52 Million	0.563x	+9.07%
2013-03-31	Rs37.63 Billion ≈ $406.93 Million	Rs19.41 Billion ≈ $209.96 Million	0.516x	-39.48%
2012-03-31	Rs33.48 Billion ≈ $362.03 Million	Rs28.54 Billion ≈ $308.61 Million	0.852x	-35.25%
2011-03-31	Rs20.36 Billion ≈ $220.22 Million	Rs26.81 Billion ≈ $289.93 Million	1.317x	+15.65%
2010-03-31	Rs21.67 Billion ≈ $234.34 Million	Rs24.67 Billion ≈ $266.77 Million	1.138x	+37.63%
2009-03-31	Rs18.43 Billion ≈ $199.28 Million	Rs15.24 Billion ≈ $164.83 Million	0.827x	+16.16%
2008-03-31	Rs19.66 Billion ≈ $212.66 Million	Rs14.00 Billion ≈ $151.43 Million	0.712x	-22.39%
2007-03-31	Rs7.21 Billion ≈ $78.03 Million	Rs6.62 Billion ≈ $71.58 Million	0.917x	+169.67%
2006-03-31	Rs7.40 Billion ≈ $80.04 Million	Rs2.52 Billion ≈ $27.23 Million	0.340x	+159.51%
2005-03-31	Rs4.05 Billion ≈ $43.77 Million	Rs530.62 Million ≈ $5.74 Million	0.131x	+48.88%
2004-03-31	Rs3.04 Billion ≈ $32.83 Million	Rs267.30 Million ≈ $2.89 Million	0.088x	--

About Max Financial Services Limited

NSE:MFSL India Insurance - Life

Market Cap

$5.92 Billion

Rs547.25 Billion INR

Market Cap Rank

#3209 Global

#145 in India

Share Price

Rs1585.70

Change (1 day)

-1.53%

52-Week Range

Rs1268.20 - Rs1870.00

All Time High

Rs1870.00