MAS Financial Services Limited
₹244.10-₹9.35 (-3.7%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹5,668 Cr
- P/E
- 17.0x
- Revenue
- ₹1,520 Cr
- ROCE
- 14.0%
Price chart
Technical chartScreen technicals →-20.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -13.8%
- 3M
- -23.7%
- 6M
- -28.2%
- 1Y
- -20.8%
- 5Y
- -4.0%
52-week range
Day change -₹9.35 (-3.7%) from ₹253 to ₹244 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in MASFIN, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Maintains healthy dividend payout of 23.0%
Concerns1
- Negative free cash flow (₹1855 Cr)
Rule-based from financial data. Not advice.
About the company
MAS Financial Services Limited, a non-banking finance company, provides retail financing services in India. The company offers micro-enterprises, small and medium businesses, two-wheeler, commercial vehicle, used vehicle loans, and salaried personal loans, tractor, and housing loans. It serves through a distribution network of partner microfinance institutions, non-banking finance companies, housing finance companies, and franchisees. MAS Financial Services Limited was incorporated in 1995 and is based in Ahmedabad, India.
- Sector
- Financial Services
- Shares outstanding
- 18.2 Cr shares
- ISIN
- INE348L01012
- BSE code
- 540749
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹5,668 Cr
- P/E
- 17.0x
- P/B
- 2.0x
- Earnings yield
- 5.9%
- 52-week high
- ₹348.00
- 52-week low
- ₹244.10
Profitability
- ROE
- 11.8%
- ROCE
- 14.0%
- Dividend payout
- 23.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 0.3%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,520 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 23.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1.00 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.0%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 23.4%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 8.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹1,283 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -4.4%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹260 Cr
Solvency and efficiency
- CFO / Net profit
- -5.17
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹20 was left as net profit.
| From | To | Amount |
|---|---|---|
| Revenue | Interest paid | ₹730 Cr |
| Revenue | Expenses | ₹375 Cr |
| Revenue | Financing profit | ₹415 Cr |
| Financing profit | Depreciation | ₹5 Cr |
| Financing profit | Profit before tax | ₹410 Cr |
| Other income | Profit before tax | ₹1 Cr |
| Profit before tax | Tax and other | ₹104 Cr |
| Profit before tax | Net profit | ₹306 Cr |
Revenue and net profit
Revenue grew 23.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹594 Cr | ₹144 Cr |
| FY2022 | ₹656 Cr | ₹158 Cr |
| FY2023 | ₹939 Cr | ₹201 Cr |
| FY2024 | ₹1,228 Cr | ₹248 Cr |
| FY2025 | ₹1,520 Cr | ₹306 Cr |
Cash flows
FY2025: -₹1,020 Cr from operations, -₹1,855 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | -₹575 Cr | -₹775 Cr |
| FY2022 | -₹820 Cr | -₹1,629 Cr |
| FY2023 | -₹1,342 Cr | -₹1,634 Cr |
| FY2024 | -₹1,283 Cr | -₹1,257 Cr |
| FY2025 | -₹1,020 Cr | -₹1,855 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,520 Cr+23.8%1Y
- Net profit
- ₹306 Cr+23.4%1Y
- Cash from operations
- -₹1,020 Cr
- Free cash flow
- -₹1,855 Cr
- Revenue CAGR, 5Y
- 12.8%
- Net profit CAGR, 5Y
- 8.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,520 Cr | ₹415 Cr | — | ₹306 Cr | -₹1,020 Cr | -₹1,855 Cr | — | +23.8% | +23.4% |
Monthly returns
Month-by-month returns of MASFIN across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹11,664 Cr |
| Equity capital | ₹181 Cr |
| Reserves | ₹2,404 Cr |
| Borrowings | ₹8,702 Cr |
| Other liabilities | ₹377 Cr |
| Assets | ₹11,664 Cr |
| Fixed assets | ₹24 Cr |
| Capital work in progress | ₹92 Cr |
| Investments | ₹1,594 Cr |
| Other assets | ₹9,955 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
MASFIN trades at 17.0x earnings against a peer median of 26.9x (a 37% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| MAS Financial Services LimitedMASFINthis companyP/E ↓ discount | ₹5,668 Cr | 17.0x | 2.0x | 11.8% | — |
| Karnataka Bank Ltd.KTKBANK | ₹7,044 Cr | 6.1x | 0.6x | 10.5% | — |
| Fedbank Financial Services LimitedFEDFINA | ₹6,065 Cr | 24.7x | 2.2x | 8.8% | — |
| DCB Bank LimitedDCBBANK | ₹5,931 Cr | 8.9x | 1.0x | 10.8% | — |
| ICRA LimitedICRA | ₹5,761 Cr | 42.9x | 7.1x | 18.4% | 36.1x |
| Canara Robeco Asset Management Company LimitedCRAMC | ₹5,595 Cr | 29.6x | — | 31.8% | 27.7x |
| Pilani Investment And Industries Corporation LimitedPILANIINVS | ₹5,445 Cr | 51.4x | 0.3x | 1.1% | 20.2x |
| INFIBEAM AVENUES LIMITEDCCAVENUE | ₹5,344 Cr | 41.1x | 1.1x | 4.8% | 19.1x |
| CARE Ratings LimitedCARERATING | ₹4,862 Cr | 30.5x | 5.3x | 17.2% | 27.8x |
| Peer median | — | 26.9x | 2.8x | 12.3% | 33.9x |
Year-to-date ROI
MASFIN since 1 January, against earlier years.
Historical volatility
MASFIN's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 33.0% |
| FY2022 | 32.0% |
| FY2023 | 28.0% |
| FY2024 | 27.0% |
| FY2025 | 27.0% |
| Line | FY2025 |
|---|---|
| Revenue | ₹1,520 Cr |
| Costs | |
| Interest | ₹730 Cr |
| Expenses | ₹375 Cr |
| Financing profitFinancing Profit | ₹415 Cr |
| Financing marginFinancing Margin % | 27.0% |
| Other income and charges | |
| Profit before tax | ₹410 Cr |
| Tax | |
| Net profitNet Profit | ₹306 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹11,664 Cr |
| Equity capitalEquity Capital | ₹181 Cr |
| Reserves | ₹2,404 Cr |
| BorrowingsBorrowing | ₹8,702 Cr |
| Other liabilitiesOther Liabilities | ₹377 Cr |
| AssetsTotal Assets | ₹11,664 Cr |
| Fixed assetsFixed Assets | ₹24 Cr |
| Capital work in progressCWIP | ₹92 Cr |
| Investments | ₹1,594 Cr |
| Other assetsOther Assets | ₹9,955 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | -₹1,020 Cr |
| Investing cash flowCash from Investing Activity | -₹835 Cr |
| Financing cash flowCash from Financing Activity | ₹2,115 Cr |
| Change in cashNet Cash Flow | ₹260 Cr |
Learn while you research
Academy chapters picked for MAS Financial Services Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth Investing24% revenue growth is in the top tier, learn how to value growth.7 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sector AnalysisBanks & financials are uniquely sensitive to rates and credit cycles.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read