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Max Financial Services Ltd.

BSE: 500271 Sector: Financials
NSE: MFSL ISIN Code: INE180A01020
BSE 00:00 | 14 Dec 431.60 -11.65
(-2.63%)
OPEN

440.10

HIGH

440.10

LOW

426.45

NSE 00:00 | 14 Dec 431.55 -12.10
(-2.73%)
OPEN

442.40

HIGH

442.40

LOW

426.25

OPEN 440.10
PREVIOUS CLOSE 443.25
VOLUME 45927
52-Week high 610.00
52-Week low 343.95
P/E 121.92
Mkt Cap.(Rs cr) 11,584
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 440.10
CLOSE 443.25
VOLUME 45927
52-Week high 610.00
52-Week low 343.95
P/E 121.92
Mkt Cap.(Rs cr) 11,584
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Max Financial Services Ltd. (MFSL) - Company History

Max India Limited (MIL) a multi-business corporate was incorporated in 24th February of the year 1988. Focused on Knowledge, People and Service oriented of Healthcare (Max Healthcare), Life Insurance (Max New York Life Insurance), Clinical Research (Neeman Medical International) and also Max maintains interests in Specialty Plastic Products for the packaging industry (Max Speciality Products) and Healthcare Staffing (Max HealthStaff). Max had expanded its presents into pharmaceutical formulation at an existing manufacturing facility at Okhla, New Delhi in the year 1994. Also in the same year, new products such as Maxmox, a formulation of Amoxycillin, Cefamax, a formulation of Cephalexin, Floxip and an innovative product Rejoor were introduced. In the year1992, a joint venture company was set up in collaboration with Hutchison Telecom under the name of Hutchison Max Telecom Pvt. Ltd to offer value added telecom services. MIL had entered into memorandum of understanding with Comsat Corporation USA for a joint venture to address the needs of VSAT communication services via satellite. Maxxon India, promoted by MIL, was merged with the company in the year 1993. During the year 1994, an innovative new product for leather industry was introduced under the name of Maxfoil and also in the same year the company commissioned the cellular, paging and VSAT Satellite Communication networks. The joint venture between Max-GB Ltd. and Hindustan Antibiotics Ltd for manufacture of Penicillin G was inaugurated at Pimpri on 8th October of the year 1995. Forays were made into the banking and financial sectors and also into distribution and manufacturing sectors. In March of the year 1996, a joint venture was formed with Atotech BV of the Netherlands for PCB plating and general metal finishing chemicals. A range of Upjohn products manufactured under licence in a new sterile facility were launched. In April of the same year, the unit commissioned at its films metallising plant and launched its metallised BOPP films branded `Maxmet'. Max Corporation, a wholly owned subsidiary of the Company has been amalgamated with the company in the year 1999. MCL stood dissolved without winding up, and all assets and liabilities of MCL were transferred and vested with the Company effective from 14th January of the year 2000. During the year 2000, the company had acquired a majority interest in HealthScribe India Pvt. Ltd. a 100 per cent Indian subsidiary of HealthScribe Inc., one of the World's leading medical transcription companies. MIL sold its 24 per cent stake in the 50:50 penicillin-based bulk pharmaceutical joint venture of Max GB to its foreign partner, the Dutch DSM, for Rs. 26 crores. In the year 2001, Max healthcare, a division of Max India Ltd., has opened two primary (Dr Max) and a secondary (Max Medcentre) healthcare centres in New Delhi. During the identical year of 2001, the company entered into insurance business, Max New York Life the joint venture between Max India and New York Life. Max India became the first private player to shows interest in Health Insurance sector during the year 2002 and also in the year, the company sold its pharmaceutical division to Jubilant Organosys for the consideration of Rs. 62.7 crs. During 2002-03, the company had entered into the healthcare staffing resources business through a 50% investment in a new Company, Max HealthStaff International Ltd. During the year 2003, Max India closed down the Max Ateev and Alta Cast, the software development and IT enabled business taking a big hit of Rs.65 crs. During 2004-05, the company divested its equity stake in Comsat Max in favour of Bharti Infotel Ltd, for a cash deal of Rs.33 crores. During 2005, the company decided to amalgamate its wholly owned subsidiaries namely, Max Telecom Ventures Ltd and Max Asia-Pacific Ltd Honkong with the company. In June of the year 2005, the company acquired 19,72,500 equity shares of Max HealthStaff for a consideration of Rs.2.51 Crores, thereby making it a wholly owned subsidiary of the company. Max Super Speciality Hospital (MSSH) was commenced its operations in May of the year 2006. Neeman Medical International (NMI) had established preferred provider relationship with 5 Pharma major in the year 2006-07. Max Speciality Products (MSP) commissioned a new state-of-the-art-speed BOPP film production line with a capacity of 20000 tonnes per annum in March of the year 2007. The Company to invests Rs 10 billion additionally in Max New York Life, the board decided in September of the year 2007. The Company bagged an Express Healthcare Excellence Awards for the year 2007-08. Max made a Joint venture with BUPA Finance Plc., UK (world leader of highest pedigree in this space) in the year 2008.