MAS Financial Services Limited

BSE: MASFIN540749ISIN INE348L01012

Financial Services
Non Banking Financial Company (NBFC)
BSE 1000

Share price

₹253.90+3.35 (+1.34%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹358.40
52W low: ₹239.25
Off 52W high: -29.16%
1M return: -5.33%
3M return: -17.47%
6M return: -26.41%
1Y return: -19.01%
20D avg volume: 21,959
50 DMA: ₹277.07
200 DMA: ₹305.05

Key ratios Consolidated

Market cap: ₹4,607 Cr
Current price: ₹253.90
52W high / low: ₹358.40 / ₹239.25
Face value: ₹10.00
P/E: 10.89
P/B: 1.43
EPS (TTM): ₹23.32
Book value / share: ₹177.55
ROE: —
ROCE: —
Operating margin: —
Net margin: —
Debt / equity: 2.67
Net debt: ₹7,887 Cr
Interest cover: 1.56
Dividend yield: 0.79%
Dividend / share (TTM): ₹2.00
Payout: 8.58%
Cash conversion cycle: —

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	589.43	562.46	542.47	506.75	480.23	465.98	437.63	409.73	384.27	364.34	345.75	340.00
	2.37	0.54	2.94	1.05	2.10	0.75	1.48	0.66	1.25	0.79	1.44	2.17
	591.80	561.92	545.41	507.80	482.33	466.73	439.11	410.39	385.52	365.13	347.19	342.17
	437.56	414.25	406.27	375.90	359.45	350.84	327.02	302.40	281.74	267.98	253.51	255.23
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	43.99	42.52	45.89	45.40	40.15	39.14	36.49	33.85	32.85	30.87	30.01	26.15
	252.34	236.13	234.69	231.09	223.81	217.10	201.68	194.69	185.39	181.04	170.89	172.44
	2.32	2.21	2.00	1.79	1.78	1.67	1.52	1.45	1.36	1.27	1.20	1.17
	28.38	27.31	27.97	25.28	24.87	24.05	21.80	20.49	19.49	19.02	17.90	14.46
	154.24	147.67	139.14	131.90	122.88	115.89	112.09	107.99	103.78	97.15	93.68	86.94
	0.00	0.00	0.00	-4.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	154.24	147.67	139.14	127.08	122.88	115.89	112.09	107.99	103.78	97.15	93.68	86.94
	39.12	37.52	34.66	33.76	31.45	29.30	28.68	—	—	—	—	—
	115.12	110.15	104.48	93.32	91.43	86.59	83.41	80.39	77.62	72.56	70.10	64.41
	6.24	5.98	5.69	5.08	4.98	4.82	4.55	3.88	4.73	4.32	4.23	11.64
Key metrics
	—	—	—	—	—	—	—	304.13	290.53	279.46	265.77	260.55
	—	—	—	—	—	—	—	74.20%	75.60%	76.70%	76.90%	76.60%
	19.50%	19.60%	19.30%	18.40%	19.00%	18.60%	19.10%	19.60%	20.20%	19.90%	20.30%	18.90%
	22.70%	20.70%	24.00%	23.70%	25.00%	27.90%	26.60%	20.50%	—	—	—	—
	25.90%	27.20%	25.30%	16.10%	17.80%	19.30%	19.00%	24.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,201	1,995	1,596	1,279	987.83	690.17
	6.90	6.84	4.18	6.52	2.43	0.93
	2,207	2,002	1,600	1,286	990.26	691.11
	1,634	1,492	1,179	946.01	718.61	474.62
	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00
	177.80	170.58	134.06	100.45	70.70	47.79
	954.25	906.69	762.80	646.71	496.01	338.68
	8.32	7.24	5.60	4.29	2.72	2.07
	108.94	102.17	80.80	55.15	38.58	27.71
	572.95	509.81	421.01	339.67	271.65	216.48
	-4.82	-4.82	0.00	0.00	0.00	0.00
	568.13	504.99	421.01	339.67	271.65	216.48
	145.06	129.17	107.03	—	—	—
	423.07	375.82	313.98	254.01	205.82	161.15
	22.99	20.46	17.48	15.31	37.18	29.14
Key metrics
	—	—	—	990.67	770.38	557.23
	—	—	—	77.40%	78.00%	80.70%
	19.22%	18.80%	19.70%	19.90%	20.80%	23.30%
	22.72%	25.00%	24.80%	29.50%	43.10%	—
	23.77%	19.70%	23.60%	23.40%	27.70%	—
	—	-1,866	-1,159	—	—	—
	—	-4.75	-3.61	—	—	—
	—	2.67	2.79	—	—	—
	—	7,887	6,940	—	—	—
Balance sheet
	—	13,747	12,199	—	—	—
	—	223.66	448.65	—	—	—
	—	5.54	4.67	—	—	—
	—	0.00	0.00	—	—	—
	—	64.61	21.32	—	—	—
	—	8,111	7,388	—	—	—
	—	3,036	2,650	—	—	—
Cash flow
	—	-1,787	-1,133	—	—	—
	—	467.01	-828.19	—	—	—
	—	1,095	2,198	—	—	—
	—	79.53	25.59	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	557.19	531.48	514.00	481.42	455.68	443.41	416.51	389.71	365.05	345.92	328.10	323.64
	3.10	1.16	2.37	0.16	2.93	0.36	0.40	0.38	1.90	0.58	1.43	2.13
	560.29	530.32	516.37	481.58	458.61	443.77	416.91	390.09	366.95	346.50	329.53	325.77
	412.91	390.07	383.24	354.30	338.38	331.34	308.04	284.99	264.88	252.11	238.44	241.26
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	37.06	36.48	39.44	39.35	34.17	33.45	31.38	28.70	28.08	26.68	26.05	22.48
	238.25	222.45	221.85	219.08	211.56	206.18	191.00	184.54	175.40	171.44	161.52	163.75
	2.09	1.99	1.77	1.57	1.56	1.47	1.34	1.27	1.19	1.11	1.06	1.07
	25.76	24.62	25.56	23.18	22.82	21.92	19.95	18.81	17.82	17.69	16.51	12.97
	147.38	140.25	133.13	127.28	120.23	112.43	108.87	105.10	102.07	94.39	91.09	84.51
	0.00	0.00	0.00	-4.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	147.38	140.25	133.13	123.04	120.23	112.43	108.87	105.10	102.07	94.39	91.09	84.51
	37.33	35.65	33.41	32.71	30.53	28.53	28.05	—	—	—	—	—
	110.05	104.60	99.72	90.33	89.70	83.90	80.82	78.11	76.57	70.43	68.05	62.44
	6.07	5.76	5.49	4.98	4.94	4.62	4.46	4.31	4.21	4.25	4.15	11.42
Key metrics
	—	—	—	—	—	—	—	290.91	278.66	266.94	253.67	249.33
	—	—	—	—	—	—	—	74.60%	76.30%	77.20%	77.30%	77.00%
	19.80%	19.70%	19.40%	18.80%	19.70%	18.90%	19.40%	20.00%	21.00%	20.40%	20.70%	19.30%
	22.30%	19.90%	23.40%	23.50%	24.80%	28.20%	26.90%	20.40%	—	—	—	—
	22.70%	24.70%	23.40%	15.60%	17.10%	19.10%	18.80%	25.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,084	1,895	1,517	1,217	946.09	655.95
	6.79	5.82	3.26	7.42	3.00	1.51
	2,089	1,900	1,520	1,225	949.09	657.45
	1,541	1,407	1,110	893.15	684.39	445.78
	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00
	152.33	146.41	114.84	87.05	62.49	42.23
	901.63	858.67	722.38	614.16	474.82	319.54
	7.42	6.37	4.91	3.81	2.40	1.78
	99.12	93.48	74.27	49.78	34.44	25.05
	548.04	493.07	410.43	331.42	264.70	211.67
	-4.24	-4.24	0.00	0.00	0.00	0.00
	543.80	488.83	410.43	331.42	264.70	211.67
	139.10	125.18	104.50	—	—	—
	404.70	363.65	305.93	247.75	200.96	157.83
	22.30	20.04	17.23	15.11	36.76	28.87
Key metrics
	—	—	—	949.39	741.92	532.99
	—	—	—	78.00%	78.40%	81.30%
	19.42%	19.20%	20.20%	20.40%	21.20%	24.10%
	22.21%	24.90%	24.70%	28.70%	44.20%	—
	21.70%	18.90%	23.50%	23.30%	27.30%	—
	—	-1,750	-1,049	—	—	—
	—	-4.60	-3.33	—	—	—
	—	2.56	2.68	—	—	—
	—	7,349	6,497	—	—	—
Balance sheet
	—	13,101	11,664	—	—	—
	—	209.68	437.97	—	—	—
	—	4.47	4.66	—	—	—
	—	0.00	0.00	—	—	—
	—	61.66	18.91	—	—	—
	—	7,559	6,934	—	—	—
	—	2,953	2,586	—	—	—
Cash flow
	—	-1,672	-1,020	—	—	—
	—	450.72	-834.91	—	—	—
	—	992.99	2,115	—	—	—
	—	78.33	29.35	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +26.04%
Sales CAGR 5Y: —
Profit CAGR 3Y: +21.86%
Profit CAGR 5Y: —
Sales YoY (TTM): +22.21%
Profit YoY (TTM): +21.70%

Consolidated

Sales CAGR 3Y: +26.41%
Sales CAGR 5Y: —
Profit CAGR 3Y: +22.23%
Profit CAGR 5Y: —
Sales YoY (TTM): +22.72%
Profit YoY (TTM): +23.77%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 66.66%

Quarter	September 2026	June 2026
Promoter %	66.66%	66.66%

Holder	Type	Holding	Previous	Change
Kamlesh Chimanlal Gandhi	Promoter	37.22%	37.22%	0.00%
Shweta Kamlesh Gandhi	Promoter	27.01%	27.01%	0.00%
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	Public	8.31%	8.23%	+0.08%
Business Excellence Trust Iii - India Business Excellence Fund Iii	Public	4.19%	4.19%	0.00%
Bandhan Value Fund	Public	3.47%	3.83%	-0.36%
Isif Equity Ex-Top 100 Long-Short Fund	Public	2.22%	—	—
Prarthana Marketing Private Limited	Promoter	2.18%	2.18%	0.00%
Bavaria Industries Group Ag	Public	1.77%	1.72%	+0.05%
M3 Investment Private Limited	Public	1.42%	—	—
Anamaya Capital Llp	Promoter Group	0.17%	0.17%	0.00%
Dhvanil K Gandhi	Promoter Group	0.06%	0.06%	0.00%
Dhriti Kamlesh Gandhi	Promoter Group	0.02%	0.02%	0.00%
MAS Rural Housing & Mortgage Finance Limited	Promoter Group	0.00%	0.00%	0.00%
Dhi Advisors Private Limited	Promoter Group	0.00%	0.00%	0.00%
Dimple Vora	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Bajaj Finance Limited	6,18,269	993.05	28.02	—	+18.82% TTM	+18.85% TTM	-6.05%
Shriram Finance Limited	2,13,119	905.70	16.80	—	+13.76% TTM	+28.60% TTM	+13.74%
Tata Capital Limited	1,43,392	337.80	23.16	—	—	—	+2.57%
Cholamandalam Investment and Finance Company Ltd	1,42,265	1,659.05	22.87	—	+21.13% TTM	+33.94% TTM	-5.48%
MUTHOOT FINANCE LIMITED	1,08,792	2,709.85	8.83	—	+47.27% TTM	+70.66% TTM	-15.07%
L&T Finance Limited	66,033	263.45	19.22	—	+20.11% TTM	+27.39% TTM	-5.93%
SBI CARDS AND PAYMENT SERVICES LIMITED S	52,626	553.00	20.18	—	+5.81% TTM	+35.96% TTM	-37.17%
Piramal Finance Limited	45,975	1,942.90	24.08	—	—	—	—
SUNDARAM FINANCE LTD	44,403	3,996.55	27.42	—	—	—	-16.26%
Authum Investment & Infrastructure Limited	43,913	517.10	25.16	—	-24.30% TTM	-56.50% TTM	-10.17%
HDB FINANCIAL SERVICES LIMITED S	42,098	506.65	14.22	—	—	—	-30.70%
POONAWALLA FINCORP LIMITED	41,349	469.55	38.02	—	+75.12% TTM	+399.21% TTM	-0.70%
Mahindra & Mahindra Financial Services Limited	37,542	270.05	10.42	—	+14.94% TTM	+45.99% TTM	-15.21%
Manappuram Finance Limited	29,495	314.00	20.41	—	+4.79% TTM	+85.35% TTM	+17.85%
IIFL FINANCE LIMITED	24,697	578.65	9.35	—	+35.37% TTM	+157.78% TTM	+7.38%
Capri Global Capital Limited	23,121	240.30	17.65	—	+52.88% TTM	+82.77% TTM	+21.89%
Five-Star Business Finance Ltd. S	11,724	397.15	10.50	—	+8.28% TTM	+1.05% TTM	-39.17%
SBFC Finance Limited	9,820	88.32	28.37	—	+28.23% TTM	+45.63% TTM	-24.80%
PAISALO DIGITAL LIMITED	7,279	77.43	27.42	—	+23.60% TTM	+27.97% TTM	+101.17%
Bengal & Assam Company Limited	6,477	5,680.00	8.29	—	+12.05% TTM	+3.26% TTM	-25.74%
Fedbank Financial Services Limited S	5,923	157.85	13.66	—	+21.29% TTM	+76.56% TTM	+10.46%
Mrugesh Trading Ltd. S	5,665	78.41	—	-0.30%	+21.12% TTM	+94.74% TTM	+3,464.09%
SG FINSERVE LIMITED S	4,670	708.75	24.95	—	+104.57% TTM	+86.47% TTM	+85.76%
MAS Financial Services Limited	4,607	253.90	10.89	—	+22.72% TTM	+23.77% TTM	-19.01%
Northern Arc Capital Ltd.	4,481	276.95	9.38	—	+29.02% TTM	+70.21% TTM	+0.64%

Filings & corporate actions

Recent announcements

Transcript of Investor call3 Nov 2026 · Company Update / Analyst / Investor Meet
Audio / Video Recording of Earnings Call on Unaudited Financial Results (Standalone & Consolidated) for the quarter and half-year ended on September 30, 2026.29 Oct 2026 · Company Update / Analyst / Investor Meet
Newspaper publication of unaudited financial results for the quarter and half-year ended on September 30, 202629 Oct 2026 · Company Update / Newspaper Publication
Investor Presentation for the quarter ended September 30, 202628 Oct 2026 · Company Update / Investor Presentation
Press Release28 Oct 2026 · Company Update / Press Release / Media Release
Results-Financial Results for September 30, 202628 Oct 2026 · Result / Financial Results
Outcome of Board Meeting...28 Oct 2026 · Board Meeting / Outcome of Board Meeting
Intimation of Conference Call for financial results of the second quarter and half-year ended on September 30, 202622 Oct 2026 · Company Update / Analyst / Investor Meet
MAS Financial Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve Unaudited Financial ....21 Oct 2026 · Board Meeting / Board Meeting
Intimation of credit rating on Pass Through Certificates of the Company14 Oct 2026 · Company Update / Credit Rating
Closure of Trading Window28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Allotment of Non-Convertible Debentures24 Sep 2026 · Company Update / Allotment of Equity Shares
Intimation of ESG Rating18 Sep 2026 · Company Update / General
Intimation of Schedule of Analyst(s) / Investor(s) meetings16 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation regarding redemption of OCPS issued by MAS rural housing and mortgage finance limited and held by MAS financial services limited12 Sep 2026 · Company Update / General
Intimation of ESG Rating11 Sep 2026 · Company Update / General
Intimation of ESG Rating10 Sep 2026 · Company Update / General
Voting Results and Scrutinizer''s report2 Sep 2026 · AGM/EGM / AGM
Proceedings of 31st Annual General Meeting2 Sep 2026 · AGM/EGM / AGM
Newspaper Advertisement pursuant to IEPF (Accounting, Audit, Transfer and Refund) Rule, 201626 Aug 2026 · Company Update / Newspaper Publication
Intimation of Schedule of Analyst(s) / Investor(s) meetings10 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper advertisement of 31st Annual General Meeting, record date & E-voting information.10 Aug 2026 · Company Update / Newspaper Publication
Letter to shareholders7 Aug 2026 · Company Update / General
31st Annual General Meeting to be held on September 2, 20267 Aug 2026 · AGM/EGM / AGM
Business Responsibility and Sustainability Report - 31.03.20267 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual report - 20267 Aug 2026 · Others / Reg. 34 (1) Annual Report
Transcript of Investor call5 Aug 2026 · Company Update / Analyst / Investor Meet
Receipt of approval from UIDAI for appointment of MAS Financial Services Limited as Sub-AUA/KUA user.31 Jul 2026 · Company Update / General
Audio / Video Recording of Earnings Call on Unaudited Financial Results (Standalone & Consolidated) for the first quarter ended on June 30, 202630 Jul 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication30 Jul 2026 · Company Update / Newspaper Publication
Newspaper Advertisement for Financial Results for the quarter ended June 30, 2026.30 Jul 2026 · Company Update / Newspaper Publication
Investor presentation for the quarter ended on June 30, 202629 Jul 2026 · Company Update / Investor Presentation
Record date for the final Divided29 Jul 2026 · Corp. Action / Record Date
Record date for the Final Dividend29 Jul 2026 · Corp. Action / Record Date
Press Release dated July 29, 202629 Jul 2026 · Company Update / Press Release / Media Release
AGM to be held on September 2, 202629 Jul 2026 · AGM/EGM / AGM
Change in SMP.29 Jul 2026 · Company Update / Change in Management
Record Date for AGM29 Jul 2026 · Corp. Action / Record Date
Book Closure for AGM29 Jul 2026 · Corp. Action / Book Closure
Results - Financial Results for June 30, 202629 Jul 2026 · Result / Financial Results

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.7500	25 Aug 2026	26 Aug 2026	—
Interim Dividend - Rs. - 1.2500	4 Feb 2026	4 Feb 2026	—
Final Dividend - Rs. - 0.7000	26 Aug 2025	27 Aug 2025	—
Interim Dividend - Rs. - 1.0000	5 Feb 2025	5 Feb 2025	—
Final Dividend - Rs. - 0.5100	4 Sep 2024	—	—

Board meetings

28 Oct 2026 Board Meeting - Financial Results
29 Jul 2026 Board Meeting - Financial Results