MAS Financial Services Limited is a Gujarat-headquartered NBFC with more than two decades of business operations, operating out of Ahmedabad. The company specializes in providing retail financing services to the lower and middle-income groups of society. Founded in 1995, MAS Financial Services has established itself as a prominent player in the financial services sector, focusing on providing specialized retail financing solutions to underserved segments of the population. The Company is engaged in the business of providing micro enterprise loans (MEL), small and medium enterprise loans (SME), two-wheeler loans (TW), commercial vehicle loans (CV), and loans to NBFCs. 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. The company has been expanding its geographical footprint over the years, with new operations started in Diyodar and Bhilwara during 2019. In 2020, the Company expanded its presence in Gujarat, Madhya Pradesh, and Maharashtra, and added one more branch each in Jaipur and Jodhpur cities of Rajasthan.
The company's business model focuses on providing comprehensive financial solutions, including loans for the purchase of new and old houses, construction of houses on owned plots, home improvement loans, and loans for purchase and construction of commercial property. Additionally, its SME loans include machinery loan, industrial shed loan, working capital loan, and loan against property.
The company's financial performance has shown consistent growth and a strong track record. MAS Financial Services currently has a market capitalization of ₹5,697 Crore with sales of ₹1595.97 crore and net profit of ₹310.40 crore for the full year FY25.
The latest quarterly results demonstrate strong operational performance. For the quarter ended March 2025 (Q4 FY25), Net profit of MAS Financial Services rose 18.90% to Rs 82.47 crore compared to Rs 69.36 crore in the same period last year (Q4 FY24). Sales increased by 26.13% to Rs 437.63 crore in Q4 FY25 against Rs 346.96 crore in Q4 FY24.
For the full financial year 2024-25, net profit rose 23.64% to Rs 310.40 crore compared to Rs 251.05 crore in the previous year (FY24). Sales increased by 24.31% to Rs 1595.97 crore in FY25 against Rs 1283.87 crore in FY24. The company has demonstrated robust growth with a consolidated Assets Under Management (AUM) of approximately Rs. 12,850 crores, while achieving profitability milestones exceeding Rs. 300 crores. This represents substantial growth from earlier AUM levels, showcasing its ability to scale operations effectively.
- Q4 FY25 Performance: Net Sales of ₹437.63 crore, Net Profit of ₹82.47 crore
- Full Year FY25 Performance: Net Sales of ₹1595.97 crore, Net Profit of ₹310.40 crore
- Assets Under Management (AUM): Approximately ₹12,850 crore (consolidated)
- Market Capitalization: ₹5,697 Crore (as of 2024)
- Promoter Holding: 66.6%
MAS Financial Services operates a strong distribution network across 149 branches, strategically located in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Chhattisgarh, Tamil Nadu, Karnataka, and Delhi NCR. The company's AUM has grown significantly, reflecting its expanding operational capacity and reach.
The company's business model focuses on providing comprehensive financial solutions, including loans for the purchase of new and old houses, construction of houses on owned plots, home improvement loans, and loans for purchase and construction of commercial property. Additionally, its SME loans include machinery loan, industrial shed loan, working capital loan, and loan against property. The company is strategically focusing on key segments like MSME and personal loans, which saw a notable 77% growth in salaried loans. The MSME segment has been a key growth driver, contributing approximately 62% of the YoY AUM increase.
Despite a slowdown in AUM growth due to economic conditions, the company is strategically focusing on key segments like MSME and personal loans. The Board of MAS Financial Services, at its meeting on April 30, 2025, has considered an increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013, up to ₹13,500 crore, subject to shareholder approval. Looking ahead, there is cautious optimism for improved credit behavior and profitability, supported by anticipated interest rate reductions and a commitment to operational efficiency. The company's consistent track record of over 25 years and strong fundamentals position it well for future growth in the expanding Indian financial services market.
The company is led by KAMLESH CHIMANLAL GANDHI as Chairman and Riddhi Bhaveshbhai Bhayani as Company Secretary for MAS Financial Services Ltd.
- The Board of MAS Financial Services at its meeting held on 30 April 2025 has considered to increase in the Borrowing powers under Section 180(1)(c) of the Companies Act, 2013 up to Rs. 13,500 crore subject to the approval of Shareholders of the Company at the ensuing General Meeting.
- Dividend Announcements: The Board recommended a final dividend of ₹0.7 per equity share (7%) on April 30, 2025, and an interim dividend of ₹1 per equity share (10%) on January 29, 2025, both subject to shareholder approval.
100% of analysts recommend a 'BUY' rating for MAS Financial Services Ltd. The average target price is ₹345.2, indicating strong confidence in the company's future prospects.
Looking ahead, there is cautious optimism for improved credit behavior and profitability, supported by anticipated interest rate reductions and a commitment to operational efficiency. The company's consistent track record of over 25 years and strong fundamentals position it well for future growth in the expanding Indian financial services market.
