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Max Estates (MAXESTATES)₹529.50+2.65%Residential, Commercial Projects
In the Jun 2026 quarter (consolidated), Max Estates reported sales of ₹52.07 Cr, up 0.9% from Jun 2025, and net profit of ₹8.36 Cr, down 30.1% year on year. For the year to Mar 2026, sales were ₹200 Cr and net profit ₹16.01 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 20.53 | 24.24 | 30.09 | 40.58 | 40.30 | 40.14 | 39.85 | 51.59 | 48.90 | 49.85 | 49.57 | 52.07 |
| Expenses | 19.95 | 17.91 | 22.23 | 25.28 | 31.68 | 28.51 | 30.73 | 37.61 | 38.71 | 46.87 | 52.66 | 43.83 |
| Operating Profit | 0.56 | 6.25 | 7.79 | 15.18 | 8.51 | 11.53 | 9.03 | 13.88 | 10.06 | 2.92 | −3.19 | 8.09 |
| OPM % | 2.8% | 25.9% | 26.0% | 37.6% | 21.2% | 28.9% | 22.8% | 27.0% | 20.7% | 5.9% | −6.5% | 15.6% |
| Other Income | 7.28 | 6.29 | 8.54 | 7.20 | 12.59 | 31.82 | 37.48 | 28.64 | 25.83 | 21.69 | 21.14 | 28.14 |
| Interest | 10.51 | 13.87 | 14.20 | 16.53 | 13.93 | 14.82 | 16.56 | 17.33 | 16.27 | 15.62 | 16.18 | 16.72 |
| Depreciation | 6.36 | 6.88 | 8.44 | 8.76 | 8.40 | 8.15 | 8.75 | 8.40 | 8.03 | 8.01 | 7.92 | 8.16 |
| Profit before tax | −9.01 | −8.18 | −6.28 | −2.87 | −1.20 | 20.38 | 21.20 | 16.78 | 11.61 | 0.95 | −6.16 | 11.37 |
| Tax % | −49.9% | −8.4% | −24.8% | −30.5% | 14.1% | 22.7% | 34.3% | 29.2% | 32.9% | 97.0% | −33.8% | 26.7% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | −4.52 | −7.52 | −4.74 | −2.01 | −1.39 | 15.83 | 14.01 | 11.96 | 7.83 | 0.03 | −4.09 | 8.36 |
| EPS (Rs) | 0.02 | −0.22 | −0.11 | 0.12 | 0.14 | 1.24 | 1.09 | 0.72 | 0.46 | −0.08 | −0.32 | 0.30 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 69.18 | 107 | 93.25 | 160 | 200 | 200 |
| Expenses | 39.01 | 76.08 | 75.10 | 116 | 175 | 182 |
| Operating Profit | 30.92 | 31.89 | 17.96 | 43.87 | 23.91 | 17.88 |
| OPM % | 44.0% | 30.0% | 19.0% | 28.0% | 12.0% | 8.9% |
| Other Income | 4.99 | 23.99 | −16.99 | 88.90 | 96.93 | 96.80 |
| Interest | 15.99 | 18.99 | 42.96 | 62.01 | 64.95 | 64.79 |
| Depreciation | 10.99 | 14.99 | 24.98 | 33.98 | 31.98 | 32.12 |
| Profit before tax | 7.97 | 21.93 | −67.78 | 37.88 | 22.96 | 17.77 |
| Tax % | 42.1% | 16.1% | −18.9% | 30.1% | 33.1% | — |
| Exceptional items | 0.00 | 0.99 | −33.95 | 20.98 | 52.92 | 0.00 |
| Net Profit | 5.01 | 18.01 | −55.06 | 26.04 | 16.01 | 12.13 |
| EPS (Rs) | — | — | −2.88 | 2.54 | 0.78 | 0.36 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 77.84 | 0.00 | 147 | 161 | 163 |
| Reserves | 529 | 1,208 | 1,021 | 2,113 | 2,250 |
| Borrowings | 315 | 861 | 963 | 1,658 | 2,416 |
| Other Liabilities | 101 | 143 | 956 | 3,288 | 7,571 |
| Total Liabilities | 1,023 | 2,212 | 3,087 | 7,220 | 12,401 |
| Fixed Assets | 896 | 1,423 | 1,819 | 2,041 | 2,513 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 12.99 | 160 | 92.93 | 586 | 384 |
| Other Assets | 114 | 629 | 1,175 | 4,594 | 9,503 |
| Inventories | 13.98 | 386 | 532 | 2,279 | 6,877 |
| Trade receivables | 1.99 | 5.99 | 7.99 | 13.99 | 11.99 |
| Cash & equivalents | 47.87 | 40.87 | 259 | 1,080 | 613 |
| Total Assets | 1,023 | 2,212 | 3,087 | 7,220 | 12,401 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | 41.01 | −456 | 271 | 225 | −616 |
| Cash from investing activity | −121 | −52.09 | −293 | −1,996 | −288 |
| Cash from financing activity | 78.18 | 522 | 235 | 1,771 | 882 |
| Net cash flow | −2.01 | 13.01 | 213 | −2.01 | −23.99 |
| Capex | 128 | 520 | 320 | 675 | 80.64 |
| Free cash flow | −87.85 | −976 | −49.87 | −451 | −695 |
| CFO / OP % | 147.0% | −1,339.0% | 1,559.0% | 669.0% | −2,322.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 10 | 20 | 31 | 33 | 22 |
| Inventory days | 271 | 6,553 | — | — | — |
| Days payable | 197 | 458 | — | — | — |
| Cash conversion cycle | 84 | 6,114 | 30 | 32 | 21 |
| Working capital days | −105 | 993 | 6 | 1,013 | 5,036 |
| ROCE % | — | 2.0% | 0.0% | 3.0% | 1.0% |
For the Jun 2026 quarter, Max Estates reported sales of ₹52.07 Cr, up 0.9% year on year and net profit of ₹8.36 Cr, down 30.1% year on year. The operating margin was 15.6%.
Max Estates' sales for the year to Mar 2026 were ₹200 Cr; over the last twelve months they were ₹200 Cr.
Net profit for the year to Mar 2026 was ₹16.01 Cr, and ₹12.13 Cr over the last twelve months. Earnings per share over the same trailing period were ₹0.36.
Max Estates reported borrowings of ₹2,416 Cr at Mar 2026, against cash and equivalents of ₹613 Cr.
Cash from operations was −₹616 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹695 Cr.