Max Financial Services Ltd (NSE:MFSL)

Q3 2025 Max Financial Services Ltd Earnings Call Transcript

Feb 05, 2025 / 03:30AM GMT

Release Date Price: ₹1118.5 (+1.60%)

Transcript

Key Points

Positve

Max Financial Services Ltd (BOM:500271) reported a 25% growth in individual adjusted first-year premium, outperforming the private sector and overall industry growth rates.
The company's total annual premium equivalent (APE) expanded by 17%, driven by an 11% increase in policies issued.
Max Financial Services Ltd (BOM:500271) successfully onboarded eight new partners in Q3 FY25, which are expected to contribute significantly in the medium term.
The company achieved its highest-ever level of regular limited pay persistency for the 13th month, increasing by about 240 basis points.
Max Financial Services Ltd (BOM:500271) has made significant strides in digitization, reducing product launch time by almost 50% and improving operational efficiency.

Negative

The company's margin for Q3 stood at 23.2%, slightly lower than the previous quarter due to product mix changes and surrender guidelines.
There was a slowdown in growth from the Axis Bank channel in Q3, which was lower than other bank channels.
The company's ULIP segment, despite growth, has a lower margin compared to non-PAR products, impacting overall profitability.
Max Financial Services Ltd (BOM:500271) experienced a degrowth of 9% in profit before tax due to higher strains of product forms and segment allocations.
The economic variance decreased from INR660 crores in the first half to INR537 crores, largely due to equity market movements.

Operator

Ladies and gentlemen, good day, and welcome to the Max Financial Services Limited Q3 FY25 earnings conference call. (Operator Instructions). Please note that this conference has been recorded.

I now hand the conference over to Mr. Amrit Singh, CFO, from Max Financial Services Limited and Max Life Insurance Company Limited. Thank you, and over to you, sir.

Amrit Singh

Max Financial Services Ltd - Chief Financial Officer

Thank you. Good morning, everyone, and welcome to our earnings call for the quarter ended December 2024. The results were made available on our websites and on the exchanges last evening. And as always, I'm joined by Prashant Tripathy, Managing Director and CEO of Axis Max Life Insurance.

I'll hand it over to Prashant to share developments and insights for the quarter.

Prashant Tripathy

Max Life Insurance Company Ltd - Chief Executive Officer, Managing Director, Director

Thank you, Amrit, and good morning, everyone. Thank you very much for being on the call this morning. As many

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