Max Financial Services Limited (MFSL) — Financial Flexibility Index
Max Financial Services Limited (MFSL) has a Financial Flexibility Index of 0.01x as of September 2025. Free cash flow of Rs18.19 Billion (operating CF Rs16.90 Billion minus capex Rs1.29 Billion) represents 0% of total liabilities (Rs1.90 Trillion). Check MFSL capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Max Financial Services Limited Financial Flexibility Index (2004–2026)
Historical Financial Flexibility Index trend for Max Financial Services Limited across 23 annual periods. For the full cash flow conversion analysis, see MFSL cash flow metrics.
Annual Financial Flexibility Index for Max Financial Services Limited (2004–2026)
Year-by-year free cash flow to debt coverage for Max Financial Services Limited. Explore debt repayment capacity of Max Financial Services Limited to assess how comfortably operating cash covers total debt obligations.
| Year | Flexibility Index | Free Cash Flow (INR) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.06x | Rs117.17 Billion | Rs114.73 Billion | Rs1.93 Trillion | ▲ +30.4% |
| 2025 | 0.05x | Rs85.70 Billion | Rs83.52 Billion | Rs1.84 Trillion | ▲ +16.8% |
| 2024 | 0.04x | Rs63.30 Billion | Rs61.07 Billion | Rs1.58 Trillion | ▼ -49.4% |
| 2023 | 0.08x | Rs100.96 Billion | Rs99.22 Billion | Rs1.28 Trillion | ▲ +3.7% |
| 2022 | 0.08x | Rs86.24 Billion | Rs84.96 Billion | Rs1.13 Trillion | ▼ -17.3% |
| 2021 | 0.09x | Rs87.04 Billion | Rs86.21 Billion | Rs945.27 Billion | ▼ -31.2% |
| 2020 | 0.13x | Rs95.95 Billion | Rs94.68 Billion | Rs717.07 Billion | ▼ -3.5% |
| 2019 | 0.14x | Rs89.27 Billion | Rs88.26 Billion | Rs643.78 Billion | ▲ +2.8% |
| 2018 | 0.13x | Rs70.00 Billion | Rs69.51 Billion | Rs518.99 Billion | ▲ +35.4% |
| 2017 | 0.10x | Rs43.47 Billion | Rs42.66 Billion | Rs436.56 Billion | ▼ -9.2% |
| 2016 | 0.11x | Rs38.91 Billion | Rs38.02 Billion | Rs354.79 Billion | ▲ +19.2% |
| 2015 | 0.09x | Rs29.06 Billion | Rs25.79 Billion | Rs315.84 Billion | ▼ -6.5% |
| 2014 | 0.10x | Rs24.85 Billion | Rs21.78 Billion | Rs252.47 Billion | ▼ -6.0% |
| 2013 | 0.10x | Rs22.00 Billion | Rs19.41 Billion | Rs210.15 Billion | ▼ -42.7% |
| 2012 | 0.18x | Rs31.85 Billion | Rs28.54 Billion | Rs174.29 Billion | ▼ -9.9% |
| 2011 | 0.20x | Rs30.22 Billion | Rs26.81 Billion | Rs149.02 Billion | ▼ -14.9% |
| 2010 | 0.24x | Rs26.44 Billion | Rs24.67 Billion | Rs111.01 Billion | ▼ -20.5% |
| 2009 | 0.30x | Rs18.25 Billion | Rs15.24 Billion | Rs60.93 Billion | ▼ -15.3% |
| 2008 | 0.35x | Rs15.88 Billion | Rs14.00 Billion | Rs44.92 Billion | ▼ -0.9% |
| 2007 | 0.36x | Rs9.03 Billion | Rs6.62 Billion | Rs25.32 Billion | ▲ +38.8% |
| 2006 | 0.26x | Rs3.62 Billion | Rs2.52 Billion | Rs14.10 Billion | ▲ +110.5% |
| 2005 | 0.12x | Rs1.22 Billion | Rs530.62 Million | Rs9.98 Billion | ▼ -53.6% |
| 2004 | 0.26x | Rs805.36 Million | Rs267.30 Million | Rs3.06 Billion | — |