About
MAS Financial Services Limited, a non-banking finance company (NBFC), provides retail financing services for individuals and businesses in India. It operates through Financing Activities and Others segments. The company offers micro-enterprise, small and medium enterprise, business, two-wheeler, used car, salaried personal, commercial vehicle and property, and housing finance loans; project loans for real estate projects; loans to NBFCs; and loans against property. It also engages in insurance broking activities. MAS Financial Services Limited was incorporated in 1995 and is headquartered in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap5,357 Cr
P/E13.50
Div Yield0.68 %
Book Value₹164.00
52w High₹359.00
52w Low₹276.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 166.00 | 160.00 | 134.00 | 125.00 | 124.00 | 116.00 | 99.00 | 88.00 | 80.00 | 77.00 | 73.00 | 69.00 | 61.00 |
| Other Income | -1.00 | 2.00 | -4.00 | 3.00 | 0.00 | 0.00 | 0.00 | 2.00 | 1.00 | 1.00 | 2.00 | 2.00 | 2.00 |
| Depreciation | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Interest | 222.00 | 222.00 | 219.00 | 212.00 | 206.00 | 191.00 | 185.00 | 175.00 | 172.00 | 162.00 | 164.00 | 146.00 | 143.00 |
| Profit before tax | 140.00 | 133.00 | 123.00 | 120.00 | 112.00 | 109.00 | 105.00 | 102.00 | 94.00 | 91.00 | 85.00 | 80.00 | 76.00 |
| Tax % | 25.00 | 25.00 | 27.00 | 25.00 | 25.00 | 26.00 | 26.00 | 25.00 | 25.00 | 25.00 | 26.00 | 25.00 | 24.00 |
| Net Profit | 105.00 | 100.00 | 90.00 | 90.00 | 84.00 | 81.00 | 78.00 | 77.00 | 70.00 | 68.00 | 62.00 | 60.00 | 57.00 |
| EPS in Rs | 5.76 | 5.50 | 4.98 | 4.94 | 4.62 | 4.45 | 4.30 | 4.22 | 3.88 | 4.15 | 3.81 | 3.66 | 3.49 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 536.00 | 375.00 | 277.00 | 196.00 | 123.00 | 129.00 | 164.00 | 130.00 | 111.00 | 85.00 | 76.00 | 60.00 |
| Other Income | -2.00 | 0.00 | 1.00 | 1.00 | 1.00 | -3.00 | -3.00 | -2.00 | -2.00 | 0.00 | 0.00 | 0.00 |
| Interest | 865.00 | 730.00 | 617.00 | 476.00 | 321.00 | 266.00 | 275.00 | 205.00 | 171.00 | 152.00 | 136.00 | 107.00 |
| Depreciation | 6.00 | 5.00 | 4.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Profit before tax | 489.00 | 410.00 | 331.00 | 265.00 | 211.00 | 193.00 | 228.00 | 234.00 | 165.00 | 103.00 | 82.00 | 59.00 |
| Tax % | 26.00 | 25.00 | 25.00 | 24.00 | 25.00 | 26.00 | 27.00 | 35.00 | 37.00 | 35.00 | 35.00 | 34.00 |
| Net Profit | 364.00 | 306.00 | 248.00 | 201.00 | 158.00 | 144.00 | 167.00 | 152.00 | 103.00 | 67.00 | 53.00 | 39.00 |
| EPS in Rs | 20.04 | 16.86 | 15.11 | 12.25 | 9.61 | 8.75 | 10.16 | 9.28 | 6.31 | 5.23 | 11.12 | 8.09 |
| Dividend Payout % | 10.00 | 10.00 | 23.00 | 10.00 | 10.00 | 6.00 | 26.00 | 18.00 | 19.00 | 20.00 | 20.00 | 20.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 181.00 | 181.00 | 164.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 43.00 | 16.00 | 16.00 |
| Reserves | 2,771.00 | 2,404.00 | 1,605.00 | 1,451.00 | 1,286.00 | 1,118.00 | 926.00 | 855.00 | 719.00 | 237.00 | 118.00 | 85.00 |
| Other Liabilities | 384.00 | 353.00 | 291.00 | 335.00 | 492.00 | 711.00 | 1,011.00 | 774.00 | 639.00 | 581.00 | 392.00 | 333.00 |
| Total Liabilities | 13,101.00 | 11,664.00 | 9,109.00 | 7,678.00 | 6,064.00 | 5,178.00 | 4,572.00 | 3,704.00 | 2,698.00 | 2,024.00 | 1,814.00 | 1,488.00 |
| Fixed Assets | 71.00 | 24.00 | 22.00 | 16.00 | 13.00 | 11.00 | 13.00 | 12.00 | 57.00 | 7.00 | 6.00 | 4.00 |
| CWIP | 127.00 | 92.00 | 70.00 | 58.00 | 52.00 | 50.00 | 48.00 | 46.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1,058.00 | 1,594.00 | 788.00 | 826.00 | 538.00 | 235.00 | 38.00 | 22.00 | 13.00 | 11.00 | 11.00 | 11.00 |
| Other Assets | 11,845.00 | 9,955.00 | 8,229.00 | 6,778.00 | 5,461.00 | 4,881.00 | 4,473.00 | 3,624.00 | 2,628.00 | 2,006.00 | 1,797.00 | 1,472.00 |
| Total Assets | 13,101.00 | 11,664.00 | 9,109.00 | 7,678.00 | 6,064.00 | 5,178.00 | 4,572.00 | 3,704.00 | 2,698.00 | 2,024.00 | 1,814.00 | 1,488.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -1,672.00 | -1,009.00 | -1,283.00 | -1,342.00 | -820.00 | -575.00 | 189.00 | -400.00 | -366.00 | -134.00 | -243.00 | -240.00 |
| Cash from Investing Activity | 451.00 | -835.00 | 26.00 | -292.00 | -809.00 | -200.00 | -7.00 | 4.00 | -49.00 | -4.00 | -1.00 | -2.00 |
| Cash from Financing Activity | 993.00 | 2,104.00 | 1,197.00 | 1,601.00 | 935.00 | 715.00 | 487.00 | 713.00 | 417.00 | -1.00 | 206.00 | 277.00 |
| Net Cash Flow | -228.00 | 260.00 | -60.00 | -33.00 | -694.00 | -60.00 | 669.00 | 318.00 | 2.00 | -139.00 | -38.00 | 35.00 |
| Free Cash Flow | -1,762.00 | -1,038.00 | -1,303.00 | -1,352.00 | -825.00 | -577.00 | 185.00 | -402.00 | -414.00 | -138.00 | -246.00 | -241.00 |
| CFO/OP % | -114.00 | -80.00 | -127.00 | -173.00 | -142.00 | -113.00 | 53.00 | -74.00 | -92.00 | -38.00 | -99.00 | -131.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|
Corporate Actions
21 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 25 Aug 2026 | 26 Aug 2026 | — | 0.75 | |
| Dividend | 04 Feb 2026 | 04 Feb 2026 | — | 1.25 | |
| Dividend | 26 Aug 2025 | 27 Aug 2025 | — | 0.70 | |
| Dividend | 05 Feb 2025 | 05 Feb 2025 | — | 1.00 | |
| Dividend | 04 Sep 2024 | — | — | 0.51 | |
| Bonus | 22 Feb 2024 | 22 Feb 2024 | 2:1 | — | |
| Dividend | 23 Jan 2024 | 23 Jan 2024 | — | 3.00 | |
| Dividend | 22 Jan 2024 | 22 Jan 2024 | — | 3.00 | |
| Dividend | 19 Jul 2023 | — | — | 1.85 | |
| Dividend | 10 Feb 2023 | 11 Feb 2023 | — | 1.80 | |
| Dividend | 12 Aug 2022 | — | — | 1.75 | |
| Dividend | 10 Feb 2022 | 12 Feb 2022 | — | 1.25 | |
| Dividend | 17 Aug 2021 | — | — | 1.50 | |
| Other | 01 Dec 2020 | — | — | — | Annual General Meeting |
| Dividend | 02 Mar 2020 | 03 Mar 2020 | — | 6.00 | |
| Dividend | 21 Nov 2019 | 22 Nov 2019 | — | 2.00 | |
| Dividend | 18 Jun 2019 | — | — | 3.60 | |
| Other | 18 Jun 2019 | — | — | — | Dividend Rs -3.60 Per Share |
| Dividend | 20 Nov 2018 | 23 Nov 2018 | — | 1.50 | |
| Dividend | 13 Jun 2018 | — | — | 2.16 | |
| Dividend | 17 Nov 2017 | 20 Nov 2017 | — | 1.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update6 Jul from smera
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Rating update26 Jun from care
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Rating update30 Apr from smera
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Rating update10 Mar from care
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Rating update26 Nov 2025 from care
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Rating update28 Jul 2025 from care
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