Max India Q2 Results FY27: Net Loss Narrows to Rs 22.25 Cr, Revenue Rs 86.79 Cr, PAT Rs -22.25 Cr

Max India Ltd (MAXIND) Q2 Results FY27 announced on 3 November 2026, covering the company's financial performance for the July to September quarter. The results date brought consolidated revenue of Rs 86.79 Cr and a net loss (PAT) of Rs 22.25 Cr into view. Max India Q2 Results FY27 therefore record revenue growth of 92.18% over the same quarter last year, with the consolidated results also showing a smaller loss than a year earlier.

This Max India Q2 Results results analysis covers the financial highlights, the business factors named in the disclosure, the outlook for FY27 and the risks to watch. Listed on NSE and BSE under the symbol MAXIND, the company reports on a consolidated basis, so every figure below reflects the group as a whole. The Financial Highlights come next.

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Max India Q2 Results FY27: Financial Highlights

Metric	Q2 FY27 (Sep 26)	Q2 FY26 (Sep 25)	YoY Change
Revenue	Rs 86.79 Cr	Rs 45.16 Cr	+92.18% YoY
Operating Profit	Rs -20.13 Cr	Rs -30.26 Cr	+33.48% YoY
Net Profit (PAT)	Rs -22.25 Cr	Rs -34.07 Cr	+34.69% YoY

Source: company filing for Max India Q2 Results FY27, 3 November 2026. Figures in Rs Crore, Consolidated basis.

Key Takeaways from Max India Q2 Results: What Stands Out

• Revenue of Rs 86.79 Cr compares with Rs 45.16 Cr in the same quarter last year, a YoY growth of 92.18% on a consolidated basis.
• Net profit was a loss of Rs 22.25 Cr, against a loss of Rs 34.07 Cr a year earlier, so the loss narrowed by 34.69% YoY.
• Operating Profit stood at Rs -20.13 Cr versus Rs -30.26 Cr in the year-ago quarter, a 33.48% YoY improvement in the loss figure.
• Net profit margin moved to -25.6% from -75.4% in the comparison quarter, as supplied for Max India Q2 Results FY27.
• The balance sheet carries almost no debt, with a debt-to-assets ratio of 0.00 in FY26, which leads into the performance analysis.

Max India Q2 Results FY27: Performance Analysis

Revenue nearly doubled while the loss shrank, which is the clearest message from these numbers. Consolidated revenue rose Rs 41.63 Cr to Rs 86.79 Cr, and net profit remained negative at Rs 22.25 Cr, though that is a smaller loss than the Rs 34.07 Cr reported a year earlier.

In the Max India Q2 Results FY27 results analysis, the Operating Profit line tells a similar story. It moved from Rs -30.26 Cr to Rs -20.13 Cr, a 33.48% YoY gain on the loss figure. The net loss narrowed at a comparable pace of 34.69%, so the loss lines moved together, while revenue grew much faster at 92.18%.

Investors tracking this quarter will look at how revenue growth of 92.18% carries through the next filings and whether the Operating Profit loss keeps shrinking. The quarterly results for Max India also show a net margin of -25.6% against -75.4%, which is where the results analysis turns to the business factors.

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Key Business Factors This Quarter

Revenue growth – The results analysis points to revenue as the main factor, with a rise of 92.2% YoY to Rs 86.79 Cr in the latest quarter. This sits against Rs 45.16 Cr in the year-ago period and is the base for the smaller loss shown in the Max India Q2 Results FY27.

Margin movement – Net profit margin improved to -25.6% from -75.4% in the comparison quarter. The margin is still negative, but the gap to break-even is much smaller than a year earlier, which the quarterly results confirm through the narrower Rs 22.25 Cr net loss.

Debt position – The company is almost debt free, with a debt-to-assets ratio of 0.00 in FY26. This means the Rs 22.25 Cr net loss in the quarter is not being driven by a heavy borrowing load, according to the supplied balance sheet ratio.

FY27 Outlook After Max India Q2 Results

No management guidance accompanies these figures, so the FY27 full-year picture will depend on the quarters that follow and on the sector conditions disclosed later. The Max India Q2 Results FY27 results analysis offers a starting point: revenue of Rs 86.79 Cr and a net profit loss of Rs 22.25 Cr set the reference for upcoming filings.

What matters next is whether revenue growth stays near the 92.18% YoY level and whether the net profit loss keeps narrowing from Rs 34.07 Cr a year ago. Those two lines will frame the full-year results for FY27, and the risks that could affect them are covered next.

Key Risks to Watch After Max India Q2 Results FY27

Continued Net Loss

The company reported a net loss of Rs 22.25 Cr in the latest quarter. Even with a 34.69% YoY narrowing, the loss remains, and the Max India Q2 Results FY27 show that profitability is yet to be reached on a consolidated basis.

Low Return on Equity

Return on equity was low at -34.48% in FY26. This is an annual figure and shows how the loss base has weighed on shareholder returns, so YoY growth in revenue will need to translate into smaller losses over time.

Modest Return on Capital

Return on capital employed was modest at -27.83% in FY26. It reflects the use of capital against negative operating results, and it is a number that investors can compare with later annual disclosures from the company.

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Conclusion

The quarterly results show revenue of Rs 86.79 Cr, up 92.18% YoY, and a smaller consolidated net loss of Rs 22.25 Cr. Taken together, Max India Q2 Results FY27 describe a company still reporting losses but at a reduced level on a consolidated basis. Investors should consult a SEBI-registered advisor before acting on any of this information.

Frequently Asked Questions on Max India Q2 Results FY27

What are Max India Q2 Results FY27?

Ans. Max India Q2 Results FY27 are the consolidated quarterly results of Max India for July to September 2026, showing revenue of Rs 86.79 Cr and a net loss of Rs 22.25 Cr, as covered in the Quick Answer.

What is the results date for Max India Q2 Results FY27?

Ans. The results date for Max India Q2 Results FY27 is 3 November 2026, when Max India declared its consolidated numbers, so the Financial Highlights section reflects figures from that filing for the quarter.

What revenue was reported in Max India Q2 Results FY27?

Ans. Max India reported consolidated revenue of Rs 86.79 Cr in Max India Q2 Results FY27, compared with Rs 45.16 Cr a year earlier, which means revenue is the line to read first in the Financial Highlights.

What net profit was reported in Max India Q2 Results FY27?

Ans. Net profit in Max India Q2 Results FY27 was a loss of Rs 22.25 Cr, compared with a loss of Rs 34.07 Cr in the year-ago quarter, as the Performance Analysis section explains.

How much YoY growth did revenue show in Max India Q2 Results FY27?

Ans. Revenue in Max India Q2 Results FY27 grew 92.18% YoY, rising from Rs 45.16 Cr to Rs 86.79 Cr, while the net loss narrowed by 34.69%, a comparison drawn in the Key Takeaways.

Did net profit rise or fall in Max India Q2 Results?

Ans. In Max India Q2 Results the net profit loss narrowed, from Rs 34.07 Cr to Rs 22.25 Cr, so the loss is smaller YoY, though the figure stays negative, as the Key Takeaways section notes.

What was the Operating Profit in Max India Q2 Results FY27?

Ans. Operating Profit in Max India Q2 Results FY27 was Rs -20.13 Cr compared with Rs -30.26 Cr a year earlier, a 33.48% YoY change in the loss, which is detailed in the Performance Analysis.

Are Max India Q2 Results consolidated results or standalone results?

Ans. The figures in Max India Q2 Results are consolidated results, covering Max India as a group, which means the revenue of Rs 86.79 Cr should be read on that basis in the Financial Highlights.

What business factors shaped Max India Q2 Results FY27?

Ans. The factors listed for Max India Q2 Results FY27 are revenue growth of 92.2% YoY, a net margin of -25.6% versus -75.4%, and a debt-to-assets ratio of 0.00, which the Key Business Factors section sets out.

What are the key risks after Max India Q2 Results FY27?

Ans. After Max India Q2 Results FY27 the risks named are the Rs 22.25 Cr net loss, return on equity of -34.48% and return on capital employed of -27.83%, all of which appear in the Key Risks section.

What is the outlook after Max India Q2 Results?

Ans. No management guidance is attached to Max India Q2 Results, so the FY27 outlook rests on later quarters, while the Outlook section tracks revenue growth and the narrowing net loss as the reference points.

Where can I find the complete Max India Q2 Results FY27 data?

Ans. The complete Max India Q2 Results FY27 data sits in the Financial Highlights table above, which sets out revenue, Operating Profit and net profit YoY, while the Univest app and Screener carry further company details.