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. See MFSL defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Max Financial Services Limited - Cash Flow Conversion Efficiency Trend (2004–2026)

This chart illustrates how Max Financial Services Limited's cash flow conversion efficiency has evolved over time, based on yearly financial data.

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
Chengtun Mining Group Co Ltd SHG:600711	-0.027x
Kodiak Gas Services, Inc. NYSE:KGS	0.061x
Ringkjoebing Landbobank A/S CO:RILBA	0.002x
Zillow Group Inc Class C NASDAQ:Z	0.045x
Gates Industrial Corporation plc NYSE:GTES	0.073x
Garrett Motion Inc NASDAQ:GTX	-0.125x
Zhejiang Sanmei Chemical Industry Co Ltd SHG:603379	0.081x
Chord Energy Corp NASDAQ:CHRD	0.070x

Annual Cash Flow Conversion Efficiency for Max Financial Services Limited (2004–2026)

The table below shows the annual cash flow conversion efficiency of Max Financial Services Limited from 2004 to 2026. 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
2026-03-31	Rs64.20 Billion ≈ $694.30 Million	Rs114.73 Billion ≈ $1.24 Billion	1.787x	+37.01%
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

$5.99 Billion

Rs553.74 Billion INR

Market Cap Rank

#3241 Global

#143 in India

Share Price

Rs1612.30

Change (1 day)

-1.24%

52-Week Range

Rs1464.20 - Rs1870.00

All Time High

Rs1870.00