Max Financial Services Limited (MFSL) — Free Cash Flow Generation Index
Max Financial Services Limited (MFSL) has a Free Cash Flow Generation Index of 1.08x as of September 2025. Free cash flow of Rs18.19 Billion represents 1% of operating cash flow (Rs16.90 Billion). Read Max Financial Services Limited (MFSL) total liabilities for a breakdown of total debt and financial obligations.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Max Financial Services Limited Free Cash Flow Generation Index (2004–2026)
Historical FCF Generation Index trend for Max Financial Services Limited across 23 annual periods. Explore Max Financial Services Limited capex to cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for Max Financial Services Limited (2004–2026)
Year-by-year Free Cash Flow Generation Index for Max Financial Services Limited. For the full company profile including market capitalisation, see how much is Max Financial Services Limited worth.
| Year | FCG Index | Free Cash Flow (INR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.98x | Rs112.28 Billion | Rs114.73 Billion | Rs2.44 Billion | ▲ +0.5% |
| 2025 | 0.97x | Rs81.34 Billion | Rs83.52 Billion | Rs2.18 Billion | ▲ +1.1% |
| 2024 | 0.96x | Rs58.84 Billion | Rs61.07 Billion | Rs2.23 Billion | ▼ -1.9% |
| 2023 | 0.98x | Rs97.48 Billion | Rs99.22 Billion | Rs1.74 Billion | ▼ -0.3% |
| 2022 | 0.98x | Rs83.68 Billion | Rs84.96 Billion | Rs1.28 Billion | ▼ -0.5% |
| 2021 | 0.99x | Rs85.38 Billion | Rs86.21 Billion | Rs829.39 Million | ▲ +0.4% |
| 2020 | 0.99x | Rs93.40 Billion | Rs94.68 Billion | Rs1.28 Billion | ▼ -0.2% |
| 2019 | 0.99x | Rs87.26 Billion | Rs88.26 Billion | Rs1.00 Billion | ▼ -0.4% |
| 2018 | 0.99x | Rs69.02 Billion | Rs69.51 Billion | Rs491.88 Million | ▲ +1.2% |
| 2017 | 0.98x | Rs41.85 Billion | Rs42.66 Billion | Rs810.69 Million | ▲ +0.4% |
| 2016 | 0.98x | Rs37.13 Billion | Rs38.02 Billion | Rs887.34 Million | ▲ +11.8% |
| 2015 | 0.87x | Rs22.53 Billion | Rs25.79 Billion | Rs3.27 Billion | ▲ +1.7% |
| 2014 | 0.86x | Rs18.71 Billion | Rs21.78 Billion | Rs3.07 Billion | ▼ -0.9% |
| 2013 | 0.87x | Rs16.83 Billion | Rs19.41 Billion | Rs2.59 Billion | ▼ -1.9% |
| 2012 | 0.88x | Rs25.22 Billion | Rs28.54 Billion | Rs3.32 Billion | ▲ +1.3% |
| 2011 | 0.87x | Rs23.40 Billion | Rs26.81 Billion | Rs3.41 Billion | ▼ -5.9% |
| 2010 | 0.93x | Rs22.89 Billion | Rs24.67 Billion | Rs1.77 Billion | ▲ +15.7% |
| 2009 | 0.80x | Rs12.23 Billion | Rs15.24 Billion | Rs3.01 Billion | ▼ -7.3% |
| 2008 | 0.87x | Rs12.12 Billion | Rs14.00 Billion | Rs1.88 Billion | ▲ +36.2% |
| 2007 | 0.64x | Rs4.21 Billion | Rs6.62 Billion | Rs2.41 Billion | ▲ +13.4% |
| 2006 | 0.56x | Rs1.41 Billion | Rs2.52 Billion | Rs1.11 Billion | ▲ +288.9% |
| 2005 | -0.30x | Rs-157.49 Million | Rs530.62 Million | Rs688.10 Million | ▲ +70.7% |
| 2004 | -1.01x | Rs-270.76 Million | Rs267.30 Million | Rs538.06 Million | — |