MAS Financial Services Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
CARE Ratings has reaffirmed MAS Financial Services' long-term rating of CARE AA- with a Stable outlook on bank facilities of ₹8,600 crore and several existing non-convertible debentures (NCDs). It assigned a fresh CARE AA-/Stable rating on a new NCD of ₹400 crore. The short-term commercial paper rating of CARE A1+ on ₹250 crore was also reaffirmed. One NCD (ISIN INE348L07191) had its rating withdrawn after full redemption. The rating action factors in healthy business growth, comfortable capital adequacy (CAR 22.84%), and a diversified resource profile, while flagging concerns around moderate customer and geographic concentration and exposure to riskier segments like two-wheeler and CV loans. Consolidated AUM stood at ₹14,641 crore as of December 2025, with PAT of ₹271 crore for 9MFY26, up 18% year-on-year.
Stable outlook and reaffirmed ratings signal continued creditworthiness and no near-term funding concerns for shareholders. The new ₹400 crore NCD assignment indicates active fundraising, while the redemption of an existing NCD reflects healthy liability management.