Lends primarily to micro, small and medium enterprises (MSMEs) through 209 branches serving around 16,500 customer centers, with 200+ NBFC partners contributing roughly 33% of assets. The Q1 FY27 consolidated AUM stood at Rs 16,122.75 cr, of which 77% was MSME-led (MEL/SME), 14% commercial vehicles and 9% salaried personal loans. Financing activities generated 99.9% of FY26 segment revenue. A housing finance subsidiary held an AUM of Rs 976 cr at end of Q1 FY27, with a 100% secured book and net stage 3 of 0.68%. Borrowing cost is the principal input, falling 55 bps to 9.25% in Q1 FY27, while capital adequacy was 23.25% and Tier-1 21.94%. Loan yields are guided at 16-17% with spreads of 7-7.5%, and asset quality at gross stage 3 of 2.58% and net stage 3 of 1.70%. Funding comes from bank facilities rated CARE AA-/Acuité AA and private placement NCDs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Financing activities (100%), Others (0%). MSME-focused NBFC with multi-channel direct and partner-led distribution, high-yield loan book
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 690 | 988 | 1,279 | 1,596 | 1,995 |
| EBITDA (ex other income) | 556 | 768 | 984 | 1,185 | 1,412 |
| margin % | 80.6 | 77.7 | 76.9 | 74.3 | 70.8 |
| Owners' profit | 159 | 203 | 251 | 310 | 371 |
| EPS, as reported (₹) | 29.14 | 37.18 | 15.31 | 17.48 | 20.46 |
| ROE % · ROCE % | 12.0 · — | 13.3 · — | 14.0 · — | 11.8 · — | 12.4 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (802) | (1,488) | (1,366) | (1,133) | (1,787) |
| Capex | (5) | (10) | (22) | (26) | (80) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 384 | 410 | 438 | 466 | 480 | 507 | 542 | 562 |
| Profit before tax | 104 | 108 | 112 | 116 | 123 | 127 | 139 | 148 |
| Net profit | 78 | 80 | 83 | 87 | 91 | 93 | 104 | 110 |
| EPS (₹) | 4.73 | 3.88 | 4.55 | 4.82 | 4.98 | 5.08 | 5.69 | 5.98 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Financing activities | 544 | 99.8 |
| Others | 1 | 0.2 |
| Total, before eliminations | 545 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · MAS Financial Gets ESG Rating of 71 from SES ESG Research | business updates | low | — | — |
| 10 Sept 2026 · MAS Financial receives Strong ESG rating of 61 from SEBI-registered provider | business updates | medium | — | — |
| 2 Sept 2026 · 31st AGM: All 5 resolutions approved, dividend of Rs 0.75 per share declared | board shareholder meetings | low | — | — |
| 2 Sept 2026 · 31st AGM: dividend Rs 0.75/share approved; borrowing limit hiked to Rs 15,000 Cr | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Notice to shareholders on IEPF transfer of unclaimed shares and dividends | compliance | minimal | — | — |
| 10 Aug 2026 · Intimation of schedule of analyst and investor meetings | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Newspaper notice published for 31st AGM, record date and e-voting | compliance | minimal | — | — |
| 7 Aug 2026 · 31st AGM on Sept 2, 2026; final dividend record date Aug 26 | compliance | minimal | — | — |
| 7 Aug 2026 · 31st AGM on Sep 2, 2026 - final dividend Rs 0.75/share, borrowing limit hike to Rs 15,000 cr | board shareholder meetings | low | — | — |
| 7 Aug 2026 · MAS Financial Services submits BRSR for FY 2025-26 | compliance | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 6.7 |
| 15.2 |
| — |
| 22.5 |
| 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.7 | 18.2 | 87 of 212 | 59% |
| P/B | 1.8 | 1.1 | 163 of 245 | 34% |
| ROE | 12.4 | 3.0 | 38 of 266 | 86% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 68.6 | 48.6 | 88 of 249 | 65% |
| Revenue growth | 20.7 | 12.6 | 98 of 231 | 58% |
| Profit growth | 27.2 | 7.8 | 106 of 251 | 58% |
| Market cap | 5414 | 37 | 22 of 260 | 92% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
