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MAS Financial Services Ltd.

243.50−9.95 (−3.93%)

BSE · 30 Oct, 4:01 PM

: ₹4,429.28 Cr
: 10.62
: 5,716
: ₹253.30 - ₹243.30
: ₹358.40 - ₹239.25

MAS Financial Services Ltd. (MASFIN) share price closed at ₹243.50 on the BSE on Friday, October 30, 2026, down by 3.93% from its of ₹253.45. In that session MASFIN reached a of 253.30 and of 243.30. The for the session was 248.14. The stands at 280.05 and is at 306.01. Looking at , the stock ended the session in Downtrend.

Stock Overview

₹251.35

₹253.45

₹248.14

₹280.05

Price 13.05% below

₹306.01

Price 20.43% below

Key Fundamentals

: 4,429.28 Cr₹4.43 Thousand Crore
: 22.98
: 10.62
: 1.37
: 177.55
: 1,535.52 Cr₹1.54 Thousand Crore
: 0.82 %
Sector
Industry: Finance - NBFC
: 13.46
: 3.47

Industry Comparison

Ratio	Company	Sector
	10.62	19.05
	3.47	0.27
	1.37	1.34
	0.31	1.67
	0.82 %	0.12 %
Operating Margin	72.20 %	47.62 %

Sector figures are the median of 194 listed Finance companies.

Peer Comparison

Name
BAJFINANCE BAJFINANCE	939.20	26.95	5,84,741.63	0.64	6,366.57	28.68%	24,546.37	22.79%	10.87
SHRIRAM TRAN SHRIRAMFIN	825.00	15.30	1,94,129.66	1.31	3,683.81	59.19%	13,792.48	15.78%	11.49
JIOFIN JIOFIN	204.50	81.87	1,40,146.75	0.29	340.44	-51.02%	1,699.28	73.15%	2.11
CHOLAFIN CHOLAFIN	1,586.00	21.86	1,36,020.28	0.13	1,630.34	40.59%	9,270.92	23.75%	9.70
TATACAP TATACAP	319.90	22.76	1,35,793.36	0.18	1,831.88	63.71%	9,341.81	20.71%	8.66
BAJ HOLD INV BAJAJHLDNG	10,213.00	12.84	1,13,664.06	1.91	2,708.08	-22.71%	394.33	21.46%	14.81
ABCAPITAL ABCAPITAL	366.30	22.11	1,00,293.18	0.00	1,353.35	40.86%	14,003.21	32.17%	8.82
MAS Financial Services Ltd. MASFIN	243.50	10.62	4,429.28	0.82	115.12	25.91%	589.43	22.74%	11.45

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	364.34	384.27	409.73	439.11	465.98	480.24	506.75	542.47	562.46	589.43
Expenses	85.67	94.99	106.26	123.82	132.07	133.86	143.02	169.58	175.91	182.90
	278.67	289.28	303.47	315.29	333.91	346.38	363.73	372.89	386.55	406.53
	76.49%	75.28%	74.07%	71.80%	71.66%	72.13%	71.78%	68.74%	68.72%	68.97%
	1.12	0.92	0.66	0.00	-0.13	2.97	-3.77	2.94	-0.54	2.37
Interest	181.37	185.06	194.69	201.68	216.22	224.69	231.09	234.69	236.13	252.34
	1.27	1.36	1.45	1.52	1.67	1.78	1.79	2.00	2.21	2.32
	97.15	103.78	107.99	112.09	115.89	122.88	127.08	139.14	147.67	154.24
	25.31%	25.21%	25.56%	25.59%	25.28%	25.59%	26.57%	24.91%	25.41%	25.36%
	71.72	76.72	79.47	82.47	85.55	90.34	92.20	103.12	108.46	113.28
	3.95	4.23	4.38	4.55	4.71	4.98	5.08	5.68	5.98	6.24

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	690.24	978.60	1,283.87	1,597.45	1,995.43
Operating Income (Net)	690.24	978.60	1,283.87	1,597.45	1,995.43
EXPENDITURE :
Employee Cost	47.79	70.70	100.45	134.06	170.58
Operating & Establishment Expenses	29.20	56.41	58.33	79.74	140.13
Administrations & Other Expenses	13.54	19.63	31.48	36.88	50.89
Provisions and Contingencies	42.16	61.44	100.35	138.32	193.19
	132.69	208.18	290.61	389.00	554.79
Operating Profit (Excl OI)	557.55	770.42	993.26	1,208.45	1,440.64
	1.18	3.57	7.09	2.70	7.50
	558.73	773.99	1,000.35	1,211.15	1,448.14
Interest	340.11	499.62	656.39	784.54	931.09
	2.07	2.72	4.29	5.60	7.24
Profit Before Taxation & Exceptional Items	216.55	271.65	339.67	421.01	509.81
Exceptional Income / Expenses					-4.82
	216.55	271.65	339.67	421.01	504.99
Provision for Tax	55.35	65.83	85.66	107.03	129.17
	161.20	205.82	254.01	313.98	375.82
Extra items				0.00	0.00
Minority Interest	-1.97	-2.56	-2.96	-3.60	-4.61
Consolidated Net Profit	159.23	203.26	251.05	310.38	371.21
Profit Balance B/F	425.33	537.08	679.63	850.75	1,069.20
Appropriations	584.56	740.34	930.68	1,161.13	1,440.41
Equity Dividend %	30.00%	36.50%	35.10%	17.00%	20.00%
	29.13	37.19	15.31	17.11	20.46
Adjusted EPS	9.71	12.40	15.31	17.11	20.46

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	54.66	54.66	163.99	181.45	181.45
Total Reserves	1,295.25	1,463.99	1,618.72	2,427.58	2,792.76
Reserve excluding Revaluation Reserve	1,295.25	1,463.99	1,618.72	2,427.58	2,792.76
Revaluation reserve	0.00
	1,349.91	1,518.65	1,782.71	2,609.03	2,974.21
Minority Interest	22.62	26.02	35.86	41.44	62.22
Secured Loans	2,721.16	4,550.05	3,859.62	4,878.39	4,798.26
Unsecured Loans	137.22	252.70	302.11	303.65	305.32
Deferred Tax Assets / Liabilities	-14.21	-19.33	-11.85	-7.40	-16.67
Other Long Term Liabilities	297.84	2.00	5.10	2.99	7.04
Long Term Provisions			0.21	0.27	0.64
Total Non-Current Liabilities	3,142.01	4,785.42	4,155.19	5,177.90	5,094.59
Trade Payables	16.14	16.52	21.15	43.21	38.37
Other Current Liabilities	173.18	312.95	261.86	313.14	329.50
Short Term Borrowings	1,580.84	1,324.78	3,264.12	3,995.48	5,210.49
Short Term Provisions	344.04	79.24	93.11	104.33	137.47
Total Current Liabilities	2,114.20	1,733.49	3,640.24	4,456.16	5,715.83
Total Liabilities	6,628.74	8,063.58	9,614.00	12,284.53	13,846.85
Loans (Non - Current Assets)	4,799.81	6,246.24	7,719.44	9,174.09	11,117.85
Gross Block	23.05	28.61	39.69	47.22	98.24
Less: Accumulated Depreciation	9.29	11.74	14.26	19.80	23.79
	13.76	16.87	25.43	27.42	74.45
	52.04	57.66	69.80	91.48	125.76
Non Current Investments	441.11	312.62	216.95	455.45	465.39
Long Term Investment	441.11	312.62	216.95	455.45	465.39
Long Term Loans & Advances	0.08		2.52	1.45	1.17
Other Non Current Assets	0.00		47.66	271.30	266.38
Total Non-Current Assets	5,306.84	6,633.72	8,082.04	10,021.21	12,052.46
Currents Investments	52.10	478.42	509.21	1,070.54	506.92
Sundry Debtors	1.05	4.30	6.54	4.67	5.54
Cash and Bank	870.66	803.96	854.42	896.71	787.04
Other Current Assets	47.37	61.54	83.28	187.66	356.92
Short Term Loans and Advances	350.72	81.64	78.51	103.74	137.97
Total Current Assets	1,321.90	1,429.86	1,531.96	2,263.32	1,794.39
Net Current Assets (Including Current Investments)	-792.30	-303.63	-2,108.28	-2,192.84	-3,921.44
Total Assets	6,628.74	8,063.58	9,614.00	12,284.53	13,846.85
		0.12	0.12	0.73	0.87
Total Debt	4,439.22	6,127.53	7,425.85	9,177.52	10,314.07
	246.96	277.84	108.71	143.79	163.91
Adjusted Book Value	82.32	92.61	108.71	143.79	163.91

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	216.55	271.65	339.67	421.01	504.99
Adjustment	-220.52	-357.70	-465.26	-614.38	-793.96
Changes In working Capital	-940.85	-1,610.00	-1,513.20	-1,393.49	-2,091.66
Cash Flow after changes in Working Capital	-944.82	-1,696.05	-1,638.79	-1,586.86	-2,380.63
Cash Flow from Operating Activities	-805.28	-1,425.94	-1,366.05	-1,123.17	-1,786.77
Cash Flow from Investing Activities	-819.88	-304.05	50.08	-828.23	467.01
Cash Flow from Financing Activitie	922.69	1,684.02	1,289.97	2,187.38	1,094.77
Net Cash Inflow / Outflow	-702.47	-45.97	-26.00	235.98	-224.99
Opening Cash & Cash Equivalents	987.11	284.64	238.67	212.67	448.65
Closing Cash & Cash Equivalent	284.64	238.67	212.67	448.65	223.66

Ratios

Valuation

10.62

1.37

7.93

2.19

22.98

177.55

Profitability

13.46

11.45

2.88

72.20

18.83

Leverage & Liquidity

3.47

0.31

1.54

Returns

0.82

0.15

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	66.63	66.63	66.63	66.63	66.63	66.63	66.63	66.65	66.65	66.66
	23.99	22.95	23.03	23.25	23.06	23.34	23.37	23.50	23.37	22.66
	9.39	10.41	10.34	10.12	10.32	10.03	10.00	9.85	9.97	10.68
	33.37	33.37	33.37	33.37	33.37	33.37	33.37	33.35	33.35	33.34
No. of Shareholders	45,415	50,510	51,148	49,599	46,496	43,237	42,016	40,107	39,685	39,282

Mutual Funds Invested(21)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 20 active funds hold 15.18% in MAS Financial Services Ltd., contributing to ₹779 Cr of holdings

Fund				As of
NI Nippon India Small Cap Fund - Growth - Direct PlanSmall cap Fund	426.52	0.53	1,50,87,423	Sep '26
ID Bandhan Value Fund - Growth - Direct PlanEquity - Value Fund	70.68	0.74	25,00,000	Sep '26
ID Bandhan ELSS - Tax Saver Fund - Growth - Direct PlanEquity - ELSS - Tax Saver Fund	56.54	0.86	20,00,000	Sep '26
IS iSIF Equity Ex-Top 100 Long-Short Fund - Growth - Direct PlanEquity - Ex-Top 100 Long-Short Fund	33.03	1.26	11,68,477	Sep '26
IP ICICI Prudential Dividend Yield Fund - Growth - Direct PlanEquity - Dividend Yield Fund	27.48	0.43	9,71,957	Sep '26
IP ICICI Prudential Banking & Financial Services Fund - Growth - Direct PlanBanks & Financial Services	25.48	0.24	9,01,315	Sep '26
ID Bandhan Multi Cap Fund - Growth - Direct PlanMulti Cap Fund	24.03	0.82	8,50,000	Sep '26
BB Baroda BNP Paribas Small Cap Fund - Growth - Direct PlanSmall cap Fund	22.62	1.77	8,00,000	Sep '26
AB Aditya Birla Sun Life Business Cycle Fund - Growth - Direct PlanEquity - Thematic Fund - Other	13.94	0.81	4,93,261	Sep '26
IS iSIF Equity Long-Short Fund - Growth - Direct PlanEquity - Long-Short Fund	12.99	1.65	4,59,603	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-10-21	Board Meeting	Quarterly Results
2026-07-29	AGM
2026-07-22	Board Meeting	Quarterly Results & A.G.M.

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)
2026-09-30	KAMLESH CHIMANLAL GANDHI	Market	Buy	5,000
2026-09-28	KAMLESH CHIMANLAL GANDHI	Market	Buy	5,000

Sector Overview

FinanceFinance - NBFC

MAS Financial Services Ltd. operates in the Finance sector under the Finance - NBFC industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

8 members across the board and senior leadership

Kamlesh Gandhi

Chairman & Managing Director

₹9.12 Cr

Mar '26

Darshana Pandya

Executive Director & Chief Executive Officer

₹1.49 Cr

Mar '26

Dhvanil K Gandhi

Whole Time Director

₹77.00 L

Mar '26

Umesh Shah

Non Executive Independent Director

₹12.00 L

Mar '26

Narayanan Sadanandan

Non Executive Independent Director

₹11.00 L

Mar '26

Vishal Vasu

Non Executive Independent Director

₹7.00 L

Mar '26

Barnali Chaklader

Non Executive Independent Director

₹4.00 L

Mar '26

Riddhi Bhaveshbhai Bhayani

Company Secretary & Chief Compliance Officer

—

MASFIN Latest News

News

10 of 10 articles

EQUITY28 Oct 2026 · 16:57

MAS Financial Services informs about outcome of board meeting

EQUITY24 Sept 2026 · 17:26

MAS Financial Services informs about allotment of NCDs

EQUITY10 Aug 2026 · 15:07

MAS Financial Services informs about newspaper publication

EQUITY27 Jul 2026 · 17:16

MAS Financial Services informs about outcome of committee meeting

EQUITY27 Jul 2026 · 12:50

MAS Financial Services jumps on raising Rs 150 crore via NCDs

The Finance Committee of the Board of Directors of the company at its meeting held on July 27, 2026, has allotted the same

COMPANY27 Jul 2026 · 12:41

MAS Financial Services raises Rs 150 crore via NCDs

The Finance Committee of the Board of Directors of the company at its meeting held on July 27, 2026, has allotted the same

EQUITY9 Jul 2026 · 14:37

MAS Financial Services inches up on raising Rs 250 crore through NCDs

The Finance Committee of the Board of Directors of the company at its meeting held on July 9, 2026, has allotted the same

COMPANY9 Jul 2026 · 14:14

MAS Financial Services raises Rs 250 crore through NCDs

The Finance Committee of the Board of Directors of the company at its meeting held on July 9, 2026, has allotted the same

EQUITY9 Jul 2026 · 13:16

MAS Financial Services informs about allotment of NCDs

EQUITY7 Jul 2026 · 16:46

MAS Financial Services informs about credit rating

MAS Financial Services Ltd.

Stock Overview

Price chart

Peer Comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Valuation

Profitability

Leverage & Liquidity

Returns

Shareholding Pattern

Mutual Funds Invested(21)

Corporate Actions

Insider Trading

Sector Overview

Company Profile

Key Management

MASFIN Latest News

News