MAS Financial Services Limited is a Gujaratheadquartered NBFC with more than two decades of business operations. The Company operates out of Ahmedabad and specialises in providing retail financing services to the lower and middleincome groups of society. The Company offers financial services for Micro Enterprises Loans, SME Loans, Home Loans, Two Wheeler Loans, Used Car Loans, Salaried Personal Loan, Housing Loans and Commercial Vehicle Loans to satisfy their varied needs. Its operations span a strong distribution network across 149 branches, strategically located in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Chhattisgarh, Tamil Nadu, Karnataka, and Delhi NCR.MAS Financial Services Limited was incorporated as a Public Limited Company on May 25, 1995 at Ahmedabad. The Company received a Certificate for Commencement of Business on May 29, 1995. The Company was initially registered as a Category A (public deposit taking) NBFC pursuant to a Certificate of Registration dated May 8, 1998, issued by the RBI. In 2006, the Company received investment from Bellwether Microfinance Trust. During the year under review, MAS Rural Housing Mortgage Finance Limited (MRHMFL) was incorporated as a subsidiary of the company. MRHMFL is primarily engaged in providing housing finance.Upon conversion of the company to a Category B (nonpublic deposit taking) NBFC, the company received a certificate of registration (bearing registration number B0100241) dated January 15, 2007, issued by the RBI.In 2008, the company received investment from Nederlandse Financierings Maatschappij voor Ontwikkelingslanden N.V. (FMO) and ICICI Venture Fund Management Company Limited.In 2010, the company developed and implemented customised Enterprise Resource Planning system called MASEX. In 2012, the company received investment from DEGDeutsche Investitionsund Entwicklungsgesellschaft MBH (DEG). In 2013, the companys assets under management (AUM) crossed Rs 1000 crore.In 2014, Sarva Capital, then known as Lok Capital II LLC, purchased 2.17 crore compulsorily convertible cumulative preference shares of the company from FMO.In 2015, the companys AUM crossed Rs 2000 crore. During the year under review, nonconvertible debentures (NCDs) issued by the company were listed on BSE Limited. In 2016, credit rating agency India Ratings Research upgraded its rating of the companys bank loans to Ind A, with stable outlook. In 2017, the companys AUM crossed Rs 3000 crore. The company came out with an initial public offer (IPO) during the period from 6 October 2017 to 10 October 2017. The IPO was a combination of fresh issue of Rs 233 crore and an offer for sale of up to Rs 227.04 crore by the selling shareholders. The stock debuted at Rs 660 on BSE on 18 October 2017, a premium of 43.79% compared with the IPO price of Rs 459 per share.During the financial year 201819, the companys AUM crossed Rs 4000 crore.During the year 2018, the Company raised fund via initial public offering of 1,00,39,277 equity shares (comprising of fresh issue of 50,92,829 equity shares and offer for sale of 49,46,448 equity shares) of face value of Rs 10 each. During the year 2019, the Company started operations in Diyodar and Bhilwara.During FY 2019, the Company made investment in the equity share capital of its subsidiary, MAS Rural Housing Mortgage Finance Limited up to a sum of Rs 9,00,00,000/.During the year 2020, Company has started operations in Gujarat, Madhya Pradesh, Maharashtra and added one more branch each in Jaipur and Jodhpur cities of Rajasthan.The Company has 69 branches Pan India as on March 31, 2022. As on April 1, 2022 the Company had 125 branches in 7 territories Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, Karnataka, and Delhi NCR.The Company has 73 branches Pan India as on March 31, 2023. MAS had 268 sourcing intermediates for its Commercial Vehicle Loans and 242 for its TwoWheeler Loans. As on March 31, 2023, the total borrowings of the Company stood at Rs 5,908.21 crore. Around 85% of the asset portfolio comprises of MSME loans, which qualifies as Priority Sector Lending.During the year 202223, MASFIN Insurance Broking Private Limited was incorporated as New subsidiary effective 05 August, 2022. The Company opened 6 branches in Gujarat, 2 branches in Maharashtra, 3 branches in Rajasthan, 9 branches in Madhya Pradesh, 3 branches in Karnataka along with a fresh location of Chhattisgarh. At the end of the FY 202223, the total branches were 149 and the Company served 9000+ Customer locations.The Company had 85 branches Pan India as on March 31, 2024. It expanded the footprint by opening a total of 189 branches in FY 2024. The AUM of the Company crossed Rs 100 billion in 2024. In terms of operational achievements, Company expanded its direct retail distribution, which accounts for 67% of total AUM as of March 31, 2024, notching it up from 62% in March 31, 2023.The Company achieved a Profit After Tax of over Rs 305.93 Cr. which is higher by 23.48% over the previous years PAT of Rs 247.75 Crore. It closed the year with Assets Under Management of Rs 12,868 Crore in FY 2025. The Company ended the year with 204 branches and coverage in FY25.
MAS Financial Services Financial Highlights
MAS Financial Services reported a Q1FY26 revenue of ₹465.98 crore, up 24.5% YoY, with net profit increased 23.6% to ₹86.59 crore. For the full year FY2025–2026, revenue reached ₹1600.15 crore and profit touched at ₹313.98 crore. As of Jun '25, MAS Financial Services’s market capitalisation stood at ₹5,685.84 crores. Shareholding as of Jun '25 shows promoters holding 66.6%, with FIIs at 3.1%, DIIs at 20%, and public at 10.3%.
As of 20 Aug, 2025, MAS Financial Services share price is ₹316. The stock opened at ₹314.9 and had closed at ₹313.4 the previous day. During today’s trading session, MAS Financial Services share price moved between ₹311.90 and ₹321.70, with an average price for the day of ₹316.80. Over the last 52 weeks, the stock has recorded a low of ₹220.06 and a high of ₹350.45. In terms of performance, MAS Financial Services share price has increased by 33% over the past six months and has increased by 11.10% over the last year.