MASFIN

MAS Financial Services Limited

NBFC offering vehicle, SME, microfinance and housing finance through dual-channel model

Financial Services›Financial Services›Finance›Non Banking Financial Company (NBFC)

mas.co.in(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹265.45
Market cap
4,814 Cr
Stock P/E
12.2
P/B
1.62
Dividend yield
0.7%
ROE (FY26)
12.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

MAS Financial (MAS Financial Services) is an Indian non-banking finance company (NBFC) that lends to micro-enterprises, small and medium enterprises (SMEs), buyers of two-wheelers and commercial vehicles, and salaried individuals, and it also runs a housing finance subsidiary.

Company snapshot

22ndBy market cap

Ranked among 58 companies in Non Banking Financial Company (NBFC).

What we see

Positives
  • ✓Net margin of 18.8% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income109 Cr112 Cr120 Cr130 Cr140 Cr156 Cr170 Cr172 Cr174 Cr181 Cr216 Cr249 Cr
Other income3 Cr2 Cr1 Cr0.79 Cr1 Cr0.66 Cr1 Cr0.75 Cr2 Cr1 Cr3 Cr-0.54 Cr
Net operating income111 Cr114 Cr122 Cr131 Cr141 Cr157 Cr172 Cr172 Cr176 Cr182 Cr218 Cr248 Cr
Employee cost24 Cr26 Cr30 Cr31 Cr33 Cr34 Cr36 Cr39 Cr40 Cr45 Cr46 Cr43 Cr
Other expenses13 Cr14 Cr18 Cr19 Cr19 Cr20 Cr22 Cr24 Cr25 Cr25 Cr28 Cr27 Cr
Provisions & contingencies————————————
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Profit before tax83 Cr87 Cr94 Cr97 Cr104 Cr108 Cr112 Cr116 Cr123 Cr127 Cr139 Cr148 Cr
Tax %24.9%25.9%25.2%25.3%25.2%25.6%25.6%25.3%25.6%26.6%24.9%25.4%
Net profit62 Cr64 Cr70 Cr73 Cr78 Cr80 Cr83 Cr87 Cr91 Cr93 Cr104 Cr110 Cr
EPS (₹)₹11.19₹11.64₹4.23₹4.32₹4.73₹3.88₹4.55₹4.82₹4.98₹5.08₹5.69₹5.98

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income——269 Cr301 Cr232 Cr263 Cr347 Cr430 Cr596 Cr742 CrSign in free for the trailing twelve months
Other income0.96 Cr2 Cr0.12 Cr0.36 Cr0.73 Cr0.93 Cr2 Cr7 Cr4 Cr7 CrSign in free for the trailing twelve months
Net operating income0.96 Cr2 Cr269 Cr301 Cr233 Cr264 Cr350 Cr437 Cr601 Cr749 CrSign in free for the trailing twelve months
Employee cost29 Cr42 Cr52 Cr59 Cr35 Cr48 Cr71 Cr100 Cr134 Cr171 CrSign in free for the trailing twelve months
Other expenses36 Cr83 Cr27 Cr31 Cr25 Cr28 Cr39 Cr55 Cr81 Cr102 CrSign in free for the trailing twelve months
Provisions & contingencies——————————Sign in free for the trailing twelve months
Depreciation1 Cr2 Cr2 Cr3 Cr3 Cr2 Cr3 Cr4 Cr6 Cr7 CrSign in free for the trailing twelve months
Profit before tax106 Cr161 Cr238 Cr239 Cr196 Cr216 Cr272 Cr340 Cr421 Cr505 CrSign in free for the trailing twelve months
Tax %34.6%34.4%35.0%24.0%25.7%25.6%24.2%25.2%25.4%25.6%Sign in free for the trailing twelve months
Net profit69 Cr105 Cr155 Cr181 Cr146 Cr161 Cr206 Cr254 Cr314 Cr376 CrSign in free for the trailing twelve months
EPS (₹)₹16.14₹21.12₹28.28₹32.92₹26.41₹29.14₹37.18₹15.31₹17.48₹20.46Sign in free for the trailing twelve months
Dividend payout %————0.0%9.4%9.4%10.5%8.7%9.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital90 Cr55 Cr55 Cr55 Cr55 Cr55 Cr55 Cr164 Cr181 Cr181 Cr
Reserves241 Cr665 Cr869 Cr991 Cr1,125 Cr1,263 Cr1,464 Cr1,619 Cr2,428 Cr2,793 Cr
Borrowings1,079 Cr1,252 Cr2,273 Cr2,796 Cr3,513 Cr4,439 Cr6,128 Cr7,426 Cr9,156 Cr10,314 Cr
Other liabilities780 Cr884 Cr783 Cr943 Cr717 Cr543 Cr342 Cr303 Cr393 Cr396 Cr
Total liabilities2,201 Cr2,867 Cr3,996 Cr4,804 Cr5,430 Cr6,322 Cr8,014 Cr9,547 Cr12,199 Cr13,747 Cr
Fixed assets (net)9 Cr58 Cr58 Cr13 Cr11 Cr14 Cr15 Cr21 Cr21 Cr65 Cr
CWIP——0.0071 Cr48 Cr50 Cr52 Cr58 Cr70 Cr91 Cr126 Cr
Investments0.0070 Cr0.0070 Cr0 Cr5 Cr202 Cr493 Cr791 Cr726 Cr1,526 Cr972 Cr
Loans & advances——3,483 Cr3,592 Cr4,063 Cr4,800 Cr6,246 Cr7,719 Cr9,174 Cr11,118 Cr
Trade receivables——0 Cr0 Cr0 Cr1 Cr4 Cr7 Cr5 Cr6 Cr
Cash & bank47 Cr57 Cr397 Cr1,046 Cr987 Cr288 Cr239 Cr213 Cr449 Cr224 Cr
Other assets2,145 Cr2,753 Cr59 Cr100 Cr116 Cr674 Cr661 Cr792 Cr933 Cr1,237 Cr
Total assets2,201 Cr2,867 Cr3,996 Cr4,804 Cr5,430 Cr6,322 Cr8,014 Cr9,547 Cr12,199 Cr13,747 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-164 Cr-375 Cr-468 Cr196 Cr-578 Cr-802 Cr-1,488 Cr-1,366 Cr-1,133 Cr-1,787 Cr
Cash from investing-4 Cr-49 Cr14 Cr4 Cr-199 Cr-820 Cr-242 Cr50 Cr-828 Cr467 Cr
Cash from financing34 Cr427 Cr802 Cr448 Cr719 Cr923 Cr1,684 Cr1,290 Cr2,198 Cr1,095 Cr
Net cash flow-134 Cr3 Cr348 Cr649 Cr-59 Cr-700 Cr-46 Cr-26 Cr236 Cr-225 Cr
Free cash flow (OCF − Capex)-168 Cr-424 Cr-470 Cr192 Cr-580 Cr-808 Cr-1,499 Cr-1,388 Cr-1,163 Cr-1,878 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %20.0%14.3%16.3%16.9%12.0%11.9%13.2%13.8%11.7%12.2%
Debt / equity3.251.742.462.672.983.374.034.173.513.47