MAS Financial Services
- Market cap
- ₹ 4,489 Cr.
- P/E
- 11.3x
- P/B
- 1.56x
- 52-week range
- 238.4 – 358.85
- ROE
- 13%
- Dividend yield
- 0.8%
- Debt / equity
- 3.47
- Sector
- Finance
- Industry
- Non Banking Financial Company (NBFC)
- Listed on
- NSE, BSE
About
MAS Financial Services Limited is an India-based Non-Banking Finance Company (NBFC) engaged in providing specialized retail financing services. The Company provides a range of products, which include micro enterprise loans (MEL), small and medium enterprise loans (SME), two-wheeler loans (TW), commercial vehicle loans (CV), used car loan, home loans, tractor loan, and others. The Company provides loans for the purchase of new and old houses, construction of houses on owned plots, home improvement loans and loans for the purchase and construction of commercial property. Its SME loans include machinery loans, industrial shed loan, working capital loan, and loan against property. It also provides salaried personal loans for various purposes, like child education, home renovation, furniture purchase, family occasions, medical purposes, and other personal purposes. It offers housing loans to customers to expand on their homesteads/ renovate part of their abodes.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Non Banking Financial Company (NBFC): 288 companies →MAS Financial Services against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)11.3 against a typical 22.5: cheaper than most peers (1st = cheapest).83rd of 284
- Sales growth+20.6% against a typical +18.3% from a year earlier.126th of 259
- Profit growth+26.4% against a typical +20.2% from a year earlier.98th of 214
- Share price, 3 months−23.1% against a typical −4.5%.221st of 258
- Size₹ 4,489.2 Cr. market value against a typical ₹ 43 Cr. (1st = largest).20th of 269
Latest announcements
Exchange filings and their impact on the company.
- Q2 PAT up ~26% to Rs115cr on ~23% AUM growth to Rs17,043cr with stable asset quality.
MAS Financial reported Q2 FY27 consolidated AUM of Rs17,042.86 crores, up 23.3% YoY, and PAT of Rs115.12 crores, up 25.9% YoY, with disbursements of Rs4,908 crores. Standalone AUM grew 23.2% to Rs16,011 crores with PAT up 22.7% to Rs110 crores, while gross stage 3 stayed stable at 2.63% and capital adequacy remained strong at 22.12%. The board also approved up to Rs50 crores investment in its housing finance subsidiary MAS Rural Housing, whose AUM crossed Rs1,031 crores with 55% PAT growth.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA by Acuite- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE A+ (SO) | — | 12 Oct 2026 |
| Acuite | ACUITE AA | Stable | 6 Jul 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 12 Oct 2026 | ▲ Upgrade | CARE A+ (SO) | — | CARE | ₹ 9.19 Cr. | |
| 6 Jul 2026 | Reaffirmed | ACUITE AA | — | Acuite | ₹ 8,000 Cr. | |
| 26 Jun 2026 | Withdrawn | was CARE AA- | — | CARE | ₹ 13,025 Cr. | |
| 30 Apr 2026 | Reaffirmed | ACUITE AA | — | Acuite | ₹ 7,850 Cr. | |
| 10 Mar 2026 | Withdrawn | was CARE AA- | — | CARE | ₹ 12,415 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 28 Oct 2026Upcoming | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2026 and other business matters |
| 29 Jul 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 29 Apr 2026 | Financial Results/Dividend/Fund Raising/Other business matters | To consider and approve the financial results for the period ended March 31, 2026, dividend, Fund Raising and other business matters |
| 28 Jan 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended December 31, 2025, dividend and other business matters |
| 5 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 23 Jul 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2025 and other business matters |
| 23 Apr 2025 | Financial Results/Dividend/Fund Raising/Other business matters | To consider and approve the financial results for the period ended March 31, 2025, dividend, Fund Raising and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 310 | 335 | 347 | 364 | 384 | 410 | 439 | 466 | 480 | 507 | 542 | 562 |
| Interest | 154 | 172 | 171 | 181 | 185 | 195 | 202 | 217 | 224 | 231 | 235 | 236 |
| Expenses | 76 | 76 | 83 | 86 | 95 | 106 | 124 | 132 | 134 | 143 | 170 | 176 |
| Financing Profit | 81 | 86 | 93 | 97 | 104 | 109 | 114 | 117 | 123 | 133 | 138 | 150 |
| Financing Margin % | 26% | 26% | 27% | 27% | 27% | 27% | 26% | 25% | 26% | 26% | 25% | 27% |
| Other Income | 3 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | −4 | 3 | −1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 83 | 87 | 94 | 97 | 104 | 108 | 112 | 116 | 123 | 127 | 139 | 148 |
| Tax % | 25% | 26% | 25% | 25% | 25% | 26% | 26% | 25% | 26% | 27% | 25% | 25% |
| Net Profit | 62 | 64 | 70 | 73 | 78 | 80 | 83 | 87 | 91 | 93 | 104 | 110 |
| EPS in Rs | 3.73 | 3.88 | 4.23 | 3.95 | 4.23 | 4.38 | 4.54 | 4.71 | 4.98 | 5.08 | 5.68 | 5.98 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 21%
- 5 Years
- 26%
- 3 Years
- 26%
- TTM
- 23%
- 10 Years
- 21%
- 5 Years
- 21%
- 3 Years
- 23%
- TTM
- 23%
- 10 Years
- —
- 5 Years
- 4%
- 3 Years
- 3%
- TTM
- —
- 10 Years
- 15%
- 5 Years
- 14%
- 3 Years
- 14%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| MAS Financial Services | ₹ 258.20 | ₹ 4,489 Cr. | 11.3x | 1.6x | 13% | — |
| Bajaj Finance | ₹ 927.00 | ₹ 5,77,146 Cr. | 25x | 5.8x | 18.1% | 23.7% |
| Shriram Finance | ₹ 867.00 | ₹ 2,04,004 Cr. | 13.9x | 3x | 16.4% | 20.9% |
| Jio Financial Services | ₹ 205.00 | ₹ 1,35,364 Cr. | 95.5x | 1.2x | — | 49.8% |
| Tata Capital | ₹ 307.05 | ₹ 1,30,358 Cr. | 20.5x | 3.3x | 12.3% | 16% |
| Power Finance Corporation | ₹ 316.00 | ₹ 1,04,283 Cr. | 5.4x | 1x | 20.7% | 29.1% |
Management
- Kamlesh Chimanlal Gandhi
- Executive Chairman of the Board, Managing Director
- Darshana Saumil Pandya
- Chief Executive Officer, Whole Time Director
- Ankit T. Jain
- Chief Financial Officer
- Riddhi Bhaveshbhai Bhayani
- Compliance Officer, Company Secretary
- Nishant Jain
- Chief Risk Officer
- Dhvanil Kamlesh Gandhi
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.