Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹76 Cr.
Stock P/E
8
P/B
1
Current Price
₹33.5
Book Value
₹ 34.8
Face Value
10
52W High
₹53.6
52W Low
₹ 28.5
Dividend Yield
0%

Maxposure Overview

Business

Maxposure Ltd. is an integrated marketing and communications company that specializes in creating, curating, and distributing content across various platforms, with a strong focus on the travel and aviation sector. Its core business revolves around providing comprehensive media solutions, including custom publishing (in-flight magazines for airlines), digital content creation, advertising sales for these platforms, and in-flight entertainment (IFE) solutions. The company makes money primarily by selling advertising space in its managed publications and digital platforms, charging fees for content creation and publishing services, and providing IFE content and technology solutions to airlines and other clients.

Revenue Mix

While specific revenue segmentation might not be formally disclosed to a granular level, Maxposure's operations can be broadly categorized into:

Custom Publishing & Advertising: This includes the creation, printing, and distribution of in-flight magazines and other custom publications for airlines, along with selling advertising inventory within these publications and associated digital platforms. This is historically their largest segment.

Digital Content & Marketing: Development of digital content strategies, creation of web/app-based content, and digital marketing services.

In-flight Entertainment (IFE) Solutions: Providing curated movies, TV shows, music, games, and technology solutions for in-flight entertainment systems to airlines.

The primary revenue drivers are advertising sales and content creation/management fees.

Industry

Maxposure operates within the broader Indian Advertising & Media sector, but has carved out a significant niche in the travel media and custom content solutions space, particularly within the aviation industry. The industry is characterized by increasing ad spending (especially digital), but also intense competition. Maxposure positions itself as a specialized player offering integrated content and advertising solutions primarily to airlines, a segment where few companies offer such a comprehensive, long-term approach. It holds a leading position in the in-flight media segment in India, partnering with major airlines.

MOAT

Exclusive & Long-Term Contracts: Maxposure often secures multi-year, exclusive contracts with prominent airlines (e.g., Indigo, Vistara), providing stable revenue streams and a significant barrier to entry for competitors.

Niche Expertise & Relationships: Deep understanding and specialized capabilities in the unique requirements of the travel and aviation content/advertising market, coupled with established relationships with key clients and advertisers.

Integrated Offering: The ability to provide a full suite of services – from content conceptualization and creation to printing, distribution, ad sales, and IFE – offers a one-stop solution for clients.

Brand Reach: Association with leading airline brands provides a wide reach for advertisers.

Growth Drivers

Booming Indian Aviation Sector: Rapid growth in domestic and international air passenger traffic in India directly drives demand for in-flight media and entertainment services.

Digital Transformation: Increasing adoption of digital platforms by airlines and travelers creates opportunities for digital content, advertising, and personal device-based IFE solutions.

Diversification & Expansion: Potential to expand services to other travel segments (e.g., railways, hospitality) or B2B content marketing beyond the travel sector.

Increased Ad Spend: Overall growth in corporate advertising expenditure, particularly targeting premium audiences reachable through travel media.

Technology Upgrades: Investment in advanced IFE solutions and data analytics for better content targeting and ad monetization.

Risks

Dependence on Key Airline Contracts: Non-renewal or termination of significant contracts with major airline clients could severely impact revenue and profitability.

Cyclical Nature of Advertising: Ad spending is sensitive to economic downturns, impacting revenue generation.

Competition: Increasing competition from other media houses, digital advertising platforms, and specialized content agencies.

Travel Disruptions: Geopolitical events, pandemics, or other global/regional crises that impact air travel can directly affect business volumes.

Technological Obsolescence: Rapid changes in content consumption habits and IFE technology could necessitate continuous, significant investments.

Regulatory Changes: New regulations concerning advertising or content distribution could impact operations.

Management & Ownership

Maxposure Ltd. is promoted by Prakash Johari, who also serves as the Managing Director. The promoters likely hold a significant ownership stake, which is common for companies that have recently gone public via an SME IPO. The management team typically comprises experienced professionals with backgrounds in media, advertising, and content creation, crucial for navigating the specialized niche the company operates in. Ownership structure details are available in their IPO prospectus and public filings.

Outlook

Maxposure is well-positioned to capitalize on the robust growth of the Indian aviation sector and the increasing demand for integrated content and advertising solutions. Its strong relationships with major airlines and niche expertise provide a solid foundation. The shift towards digital content and advanced IFE systems offers significant growth opportunities, potentially expanding its revenue streams beyond traditional print media. However, the company faces inherent risks associated with its dependence on a few key airline contracts, the cyclical nature of advertising expenditure, and the need for continuous technological adaptation. Competition within the broader media and advertising landscape also remains a factor. A balanced view suggests a company with a strong competitive foothold in a growing niche, but susceptible to industry-specific and macroeconomic headwinds.

Maxposure Share Price

Live · NSE · Inception: 2006
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Maxposure Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Maxposure Profit & Loss

#(Fig in Cr.) Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 47 63 88
Other Income 1 1 1
Total Income 48 65 89
Total Expenditure 37 53 75
Operating Profit 12 12 14
Interest 1 0 1
Depreciation 1 1 1
Exceptional Income / Expenses 1 0 0
Profit Before Tax 11 11 12
Provision for Tax 3 2 2
Profit After Tax 8 9 9
Adjustments 0 0 0
Profit After Adjustments 8 9 9
Adjusted Earnings Per Share 3.6 3.7 4.2

Maxposure Balance Sheet

#(Fig in Cr.) Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 57 75 79
Minority's Interest 0 -3 -3
Borrowings 1 1 1
Other Non-Current Liabilities 1 1 1
Total Current Liabilities 16 25 26
Total Liabilities 74 100 104
Fixed Assets 4 18 20
Other Non-Current Assets 29 33 30
Total Current Assets 42 48 54
Total Assets 74 100 104

Maxposure Cash Flow

#(Fig in Cr.) Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 3 19 15
Cash Flow from Operating Activities 0 -21 -3
Cash Flow from Investing Activities 1 0 -0
Cash Flow from Financing Activities 15 17 2
Net Cash Inflow / Outflow 17 -5 -1
Closing Cash & Cash Equivalent 19 15 14

Maxposure Ratios

# Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 3.56 3.74 4.17
CEPS(Rs) 3.8 4.07 4.57
DPS(Rs) 0 0 0
Book NAV/Share(Rs) 24.9 33.18 34.76
Core EBITDA Margin(%) 22.7 16.95 14.73
EBIT Margin(%) 25.27 17.87 14.54
Pre Tax Margin(%) 24.16 17.38 13.41
PAT Margin (%) 17.15 13.43 10.76
Cash Profit Margin (%) 18.28 14.64 11.8
ROA(%) 10.91 9.78 9.31
ROE(%) 14.31 12.87 12.27
ROCE(%) 20.56 16 14.81
Receivable days 153.34 125.72 101.46
Inventory Days 3.14 2.28 2.99
Payable days 1072.46 1117.37 764.25
PER(x) 22.96 15.07 7.92
Price/Book(x) 3.29 1.7 0.95
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 3.56 1.91 0.82
EV/Core EBITDA(x) 14.5 10.03 5.24
Net Sales Growth(%) 0 33.85 39.1
EBIT Growth(%) 0 -5.31 13.11
PAT Growth(%) 0 4.88 11.46
EPS Growth(%) 0 4.88 11.46
Debt/Equity(x) 0.03 0.1 0.13
Current Ratio(x) 2.62 1.91 2.09
Quick Ratio(x) 2.6 1.89 2.05
Interest Cover(x) 22.89 35.95 12.97
Total Debt/Mcap(x) 0.01 0.06 0.14

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +40% — — —
Operating Profit CAGR +17% — — —
PAT CAGR 0% — — —
Share Price CAGR -37% — — —
ROE Average +12% +13% +13% +13%
ROCE Average +15% +17% +17% +17%

Maxposure Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 61.56 %
FII 0 %
DII (MF + Insurance) 5.7 %
Public (retail) 32.75 %
# Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
Promoter 61.5661.5661.5661.5661.56
FII 3.610.480.9100
DII 6.678.496.355.75.7
Public 28.1729.4731.1832.7532.75
Others 00000
Total 100100100100100

Maxposure Peer Comparison

Advertising & Media Edit Columns

Maxposure Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Maxposure Pros & Cons

Pros

  • Debtor days have improved from 1117.37 to 764.25days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
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