Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 310 | 335 | 347 | 364 | 384 | 410 | 439 | 466 | 480 | 507 | 542 | 562 |
| Interest | 154 | 172 | 171 | 181 | 185 | 195 | 202 | 217 | 224 | 231 | 235 | 236 |
| Expenses | 76 | 76 | 83 | 86 | 95 | 106 | 124 | 132 | 134 | 143 | 170 | 176 |
| Financing Profit | 81 | 86 | 93 | 97 | 104 | 109 | 114 | 117 | 123 | 133 | 138 | 150 |
| Financing Margin % | 26% | 26% | 27% | 27% | 27% | 27% | 26% | 25% | 26% | 26% | 25% | 27% |
| Other Income | 3 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | -4 | 3 | -1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 83 | 87 | 94 | 97 | 104 | 108 | 112 | 116 | 123 | 127 | 139 | 148 |
| Tax % | 25% | 26% | 25% | 25% | 25% | 26% | 26% | 25% | 26% | 27% | 25% | 25% |
| Net Profit | 62 | 64 | 70 | 73 | 78 | 80 | 83 | 87 | 91 | 93 | 104 | 110 |
| EPS in Rs | 3.73 | 3.88 | 4.23 | 3.95 | 4.23 | 4.38 | 4.54 | 4.71 | 4.98 | 5.08 | 5.68 | 5.98 |
| Gross NPA % | ||||||||||||
| Net NPA % |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 309 | 365 | 477 | 605 | 710 | 627 | 690 | 989 | 1,289 | 1,599 | 1,998 | 2,092 |
| Interest | 142 | 165 | 187 | 225 | 299 | 286 | 340 | 498 | 650 | 770 | 913 | 926 |
| Expenses | 82 | 92 | 118 | 138 | 175 | 143 | 132 | 218 | 297 | 403 | 572 | 622 |
| Financing Profit | 85 | 107 | 171 | 242 | 236 | 198 | 218 | 273 | 342 | 425 | 513 | 544 |
| Financing Margin % | 27% | 29% | 36% | 40% | 33% | 32% | 32% | 28% | 27% | 27% | 26% | 26% |
| Other Income | -0 | -0 | -2 | -2 | -3 | 0 | 1 | 1 | 2 | 1 | -1 | 1 |
| Depreciation | 1 | 1 | 2 | 2 | 3 | 3 | 2 | 3 | 4 | 6 | 7 | 8 |
| Profit before tax | 84 | 106 | 168 | 238 | 230 | 196 | 217 | 272 | 340 | 421 | 505 | 537 |
| Tax % | 35% | 35% | 37% | 35% | 27% | 26% | 26% | 24% | 25% | 25% | 26% | |
| Net Profit | 55 | 69 | 105 | 155 | 168 | 146 | 161 | 206 | 254 | 314 | 376 | 399 |
| EPS in Rs | 11.29 | 5.32 | 6.41 | 9.36 | 10.21 | 8.80 | 9.71 | 12.39 | 15.31 | 17.11 | 20.46 | 21.72 |
| Dividend Payout % | 20% | 20% | 19% | 18% | 26% | 6% | 10% | 10% | 23% | 10% | 10% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 21% | 26% | 26% | 23% | ||
| Compounded Profit Growth | 21% | 21% | 23% | 23% | ||
| Stock Price CAGR | % | 2% | -2% | -6% | ||
| Return on Equity | 15% | 14% | 14% | 13% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 43 | 55 | 55 | 55 | 55 | 55 | 55 | 164 | 181 | 181 |
| Reserves | 88 | 122 | 241 | 725 | 861 | 932 | 1,125 | 1,295 | 1,464 | 1,619 | 2,427 | 2,793 |
| Borrowing | 1,124 | 1,404 | 1,311 | 1,455 | 2,273 | 2,796 | 3,513 | 4,439 | 6,128 | 7,426 | 9,182 | 10,318 |
| Other Liabilities | 343 | 405 | 605 | 665 | 801 | 1,037 | 737 | 519 | 356 | 339 | 409 | 455 |
| Total Liabilities | 1,572 | 1,947 | 2,200 | 2,898 | 3,990 | 4,820 | 5,430 | 6,309 | 8,002 | 9,547 | 12,199 | 13,747 |
| Fixed Assets | 4 | 8 | 9 | 58 | 13 | 15 | 12 | 14 | 17 | 25 | 27 | 74 |
| CWIP | 0 | 0 | 0 | 0 | 46 | 48 | 50 | 52 | 58 | 70 | 92 | 127 |
| Investments | 0 | 0 | 0 | 0 | 0 | 5 | 202 | 493 | 791 | 726 | 1,526 | 972 |
| Other Assets | 1,567 | 1,938 | 2,191 | 2,840 | 3,932 | 4,752 | 5,166 | 5,750 | 7,136 | 8,726 | 10,554 | 12,573 |
| Total Assets | 1,572 | 1,947 | 2,200 | 2,898 | 3,990 | 4,820 | 5,430 | 6,309 | 8,002 | 9,547 | 12,199 | 13,747 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -267 | -281 | -164 | -386 | -468 | 196 | -578 | -805 | -1,488 | -1,366 | -1,123 | -1,787 |
| Cash from Investing Activity | -2 | -3 | -4 | -49 | 14 | 4 | -199 | -820 | -242 | 50 | -828 | 467 |
| Cash from Financing Activity | 303 | 251 | 34 | 438 | 802 | 448 | 719 | 923 | 1,684 | 1,290 | 2,187 | 1,095 |
| Net Cash Flow | 34 | -32 | -134 | 3 | 348 | 648 | -59 | -702 | -46 | -26 | 236 | -225 |
| Free Cash Flow | -268 | -285 | -168 | -435 | -470 | 192 | -580 | -811 | -1,499 | -1,388 | -1,153 | -1,878 |
| CFO/OP | -139% | -111% | -47% | -92% | -85% | 52% | -109% | -133% | -185% | -130% | -86% | -116% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 44% | 45% | 32% | 20% | 18% | 18% | 13% | 13% | 14% | 15% | 14% | 13% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.72% | 73.72% | 73.72% | 66.63% | 66.63% | 66.63% | 66.63% | 66.63% | 66.63% | 66.63% | 66.66% | 66.66% |
| FIIs | 2.01% | 1.63% | 1.79% | 3.58% | 2.72% | 3.02% | 3.12% | 3.07% | 3.18% | 3.13% | 3.46% | 3.69% |
| DIIs | 8.57% | 8.43% | 14.42% | 20.41% | 20.23% | 20.02% | 20.13% | 19.99% | 20.15% | 20.23% | 20.04% | 19.68% |
| Public | 15.69% | 16.21% | 10.06% | 9.38% | 10.41% | 10.34% | 10.12% | 10.32% | 10.04% | 10.01% | 9.86% | 9.97% |
| No. of Shareholders | 28,999 | 31,514 | 44,544 | 45,415 | 50,510 | 51,148 | 49,599 | 46,496 | 43,237 | 42,016 | 40,107 | 39,685 |
Fundamentals
Market Cap₹ 5,108 Cr.
Current Price₹ 281
Stock P/E12.8
Book Value₹ 164
ROCE11.3 %
ROE13.4 %
Dividend Yield0.71 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)23%
Compounded Profit Growth (TTM)23%
Consolidated figures.
Valuation
Market capRs 4,951 Cr
Enterprise valueRs 14,265 Cr
P/E (TTM)12.56x
Price to book1.66x
Price to sales2.37x
EV / EBITDA9.70x
EV / EBIT9.75x
EV / sales6.82x
Earnings yield7.96%
Dividend yield0.73%
P/E, 3-year average15.54x
P/B, 3-year average2.01x
P/E, 5-year average11.99x
P/B, 5-year average1.54x
Profitability
Operating margin (excl. other income)71.36%
Operating margin (incl. other income)71.32%
EBITDA margin70.28%
Pre-tax margin25.66%
Net profit margin18.84%
Net margin, latest quarter19.28%
ROE13.30%
ROCE11.31%
ROA2.86%
ROE, 3-year average14.21%
ROCE, 3-year average11.46%
ROA, 3-year average2.86%
ROE, 5-year average13.88%
ROCE, 5-year average11.29%
ROA, 5-year average2.83%
ROIC (approx.)8.86%
Tax rate25.58%
Other income / net worth-0.03%
Growth
Sales growth (latest year)24.99%
Profit growth (latest year)19.60%
Sales CAGR, 3 years26.41%
Sales CAGR, 5 years26.07%
Profit CAGR, 3 years22.23%
Profit CAGR, 5 years20.79%
Sales growth QoQ3.69%
Profit growth QoQ5.18%
Sales growth YoY (latest quarter)20.70%
Profit growth YoY (latest quarter)26.78%
Per share
EPS (TTM)Rs 21.72
EPS (latest year)Rs 20.46
EPS (latest quarter)Rs 5.98
EPS, 3-year averageRs 17.62
EPS, 5-year averageRs 23.84
Book value per shareRs 163.90
Sales per shareRs 115.29
Cash flow per shareRs -98.47
Free cash flow per shareRs -103.50
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 2.40
Dividend per share, 5-year averageRs 2.77
Dividends
Dividend payout9.78%
Dividend payout, 3-year average14.21%
Dividend payout, 5-year average12.55%
Efficiency
Asset turnover0.15x
Fixed asset turnover26.84x
Debtor days1 days
Debtors turnover360.68x
Leverage
Total debtRs 10,318 Cr
Cash and bankRs 1,004 Cr
Net debtRs 9,314 Cr
Debt to equity3.47x
Net debt / EBITDA6.33x
Interest coverage1.58x
Owners' fund to total sources21.63%
Debt to assets75.06%
Cash flow
Cash from Operating Activity (latest year)Rs -1,787 Cr
Cash from Investing Activity (latest year)Rs 467 Cr
Cash from Financing Activity (latest year)Rs 1,095 Cr
Net Cash Flow (latest year)Rs -225 Cr
Free cash flow (latest year)Rs -1,878 Cr
FCFE (approx.: FCF + change in debt)Rs -742 Cr
Cash from ops / profit, 5 years-5.01x
Statement figures
Net sales (TTM)Rs 2,092 Cr
Net sales (latest year)Rs 1,998 Cr
Sales (latest quarter)Rs 562 Cr
Operating profit excl. other income (latest year)Rs 1,426 Cr
Operating profit (latest quarter)Rs 387 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 1,470 Cr
PBDT (TTM)Rs 545 Cr
Profit before tax (TTM)Rs 537 Cr
Tax (latest year)Rs 129 Cr
Net profit (TTM)Rs 394 Cr
Net profit (latest year)Rs 371 Cr
Net profit (latest quarter)Rs 108 Cr
Depreciation (TTM)Rs 8 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 926 Cr
Cost of goods sold (latest year)Rs 130 Cr
Total expenditure (latest year)Rs 572 Cr
Total income (latest year)Rs 1,997 Cr
Share capitalRs 181 Cr
ReservesRs 2,793 Cr
Shareholders' fundsRs 2,974 Cr
Total assetsRs 13,747 Cr
Net blockRs 74 Cr
Capital work in progressRs 127 Cr
InvestmentsRs 972 Cr
ReceivablesRs 6 Cr
Other liabilitiesRs 455 Cr
Shares outstanding (crore)18.15
Ownership
Promoter holding66.66% (+0.03 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.6 is the lowest in its own 9.1-year history
(median 26.6, low 12.6, high 57.1).
P/B 1.66 is the lowest in 9.1 years (median 3.57).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | MASFIN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.7% | -2.8% | +0.1 pts |
| 1 month | -10.4% | -6.8% | -3.6 pts |
| 3 months | -15.3% | -7.6% | -7.7 pts |
| 6 months | -2.4% | +0.4% | -2.8 pts |
| 1 year | -11.6% | -9.9% | -1.7 pts |
| 2 years | -9.1% | -13.6% | +4.5 pts |
| 3 years | -9.4% | +14.2% | -23.5 pts |
| 5 years | +6.1% | +27.9% | -21.8 pts |
28 mutual fund schemes hold about ₹860 Cr.
Over three months 24 bought more and 4 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Nippon India Small Cap Fund | 0.56% | 459 | +11% |
| Bandhan Value Fund | 0.76% | 76 | +16% |
| Bandhan ELSS-Tax Saver Fund | 0.88% | 61 | +15% |
| ICICI Pru Banking & Fin Serv Fund | 0.24% | 27 | +13% |
| ICICI Pru Banking & Fin Serv Fund | 0.24% | 27 | +13% |
| Bandhan Multi Cap Fund | 0.84% | 26 | +14% |
| Baroda BNP Paribas Small Cap Fund | 1.86% | 24 | +12% |
| Bandhan Flexi Cap Fund | 0.26% | 20 | -39% |
| Aditya Birla SL Bal Bhavishya Yojna | 1.22% | 15 | +38% |
| Aditya Birla SL Banking & Financial Services Fund | 0.41% | 15 | +16% |
| Aditya Birla SL Business Cycle Fund | 0.81% | 15 | +10% |
| Bandhan Multi Asset Allocation Fund | 0.33% | 12 | +8% |
| ICICI Pru Small Cap Fund | 0.12% | 12 | +16% |
| ICICI Pru Small Cap Fund | 0.12% | 12 | +16% |
| ICICI Pru Dividend Yield Fund | 0.14% | 9 | +100% |
| iSIF Equity Long-Short Fund | 2.33% | 9 | +77% |
| LIC MF Dividend Yield Fund | 1.14% | 9 | +10% |
| LIC MF Dividend Yield Fund | 1.14% | 8 | +10% |
| Aditya Birla SL Dividend Yield Fund | 0.48% | 7 | +100% |
| Aditya Birla SL ESG Integration Strategy Fund | 0.72% | 4 | +13% |
| iSIF Equity Ex-Top 100 Long-Short Fund | 0.14% | 4 | +143% |
| ICICI Pru ESG Exclusionary Strategy Fund | 0.25% | 3 | +100% |
| Bandhan Financial Services Fund | 0.22% | 2 | +100% |
| Arudha Equity Long-Short Fund | 1.03% | 1 | +100% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | +18% |
Red flags
F-score 5 of 8| explain | Weak cash conversion Cash from operations was -458% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 16% of total assets in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Revenue ₹562 Cr +20.6% vs Jun 2025.
Net profit ₹110 Cr +26.4%.
Against our estimate for Jun 2026: sales -2.4%, profit +1.5% beat. Our estimate for Sep 2026: sales Rs 586 Cr, profit Rs 112 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Bajaj Finance Ltd | 606,283 | 29.6 | 10.9 % |
| Shriram Finance Ltd | 228,598 | 20.2 | 11.5 % |
| Tata Capital Ltd | 140,654 | 25.9 | 8.58 % |
| Cholamandalam Investment & Finance Company Ltd | 139,031 | 24.2 | 9.71 % |
| Muthoot Finance Ltd | 109,874 | 9.66 | 15.8 % |
| L&T Finance Ltd | 67,935 | 21.2 | 8.40 % |
| SBI Cards & Payment Services Ltd | 55,290 | 24.3 | 10.1 % |
| HDB Financial Services Ltd | 52,415 | 19.0 | 9.09 % |
| Sundaram Finance Ltd | 48,161 | 21.2 | 9.44 % |
| Authum Investment & Infrastructure Ltd | 46,011 | 22.0 | 13.6 % |
| Mahindra & Mahindra Financial Services Ltd | 45,035 | 13.5 | 8.72 % |
| Poonawalla Fincorp Ltd | 39,011 | 49.6 | 7.51 % |
| Manappuram Finance Ltd | 29,725 | 20.5 | 8.25 % |
| IIFL Finance Ltd | 25,929 | 12.3 | 10.9 % |
| Capri Global Capital Ltd | 23,756 | 21.1 | 11.7 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-08-25 | Dividend - Re 0.75 Per Share | |
| 2026-02-04 | Interim Dividend - Rs 1.25 Per Share | |
| 2025-08-26 | Dividend - Re 0.70 Per Share | |
| 2025-02-05 | Interim Dividend - Re 1 Per Share | |
| 2024-09-04 | Annual General Meeting/Dividend - Re 0.51 Per Share | |
| 2024-02-22 | Bonus 2:1 | 0.3333 |
| 2024-01-22 | Interim Dividend - Rs 3 Per Share | |
| 2023-07-19 | Annual General Meeting/Dividend - Rs 1.85 Per Share | |
| 2023-02-10 | Interim Dividend - Rs 1.80 Per Share | |
| 2022-08-12 | Annual General Meeting/Dividend - Rs 1.75 Per Share | |
| 2022-02-10 | Interim Dividend - Rs 1.25 Per Share | |
| 2021-08-17 | Annual General Meeting/Dividend - Rs 1.50 Per Share | |
| 2020-12-01 | Annual General Meeting | |
| 2020-03-02 | Interim Dividend - Rs 6 Per Share | |
| 2019-11-21 | Interim Dividend - Rs 2 Per Share | |
| 2019-06-18 | Dividend Rs -3.60 Per Share | |
| 2018-11-20 | Interim Dividend - Rs 1.50 Per Sh | |
| 2018-06-13 | Dividend- Rs 2.16 Per Share | |
| 2017-11-17 | Interim Dividend - Rs 1.50 Per Share |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
| Order date | Forum | Case |
|---|---|---|
| 2020-03-19 | NCLT | M/s Seatel Electronics (India) Pvt. Ltd. Vs MAS Financial Services Ltd. In M/s Seatel Electronics (India) Pvt. Ltd. |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of MAS Financial Services Ltd?
MAS Financial Services Ltd (MASFIN) has a market capitalisation of Rs 5,108 Cr. at the 2026-10-01 close.
What is the P/E ratio of MAS Financial Services Ltd?
MAS Financial Services Ltd trades at a P/E of 12.8 on trailing twelve-month profit, at the 2026-10-01 close.
What were MAS Financial Services Ltd's latest quarterly results?
In the Jun 2026 quarter, MAS Financial Services Ltd revenue was Rs 562 Cr (+20.6% vs Jun 2025) and net profit was Rs 110 Cr.
What is the 52-week high and low of MAS Financial Services Ltd?
The 52-week high is Rs 358.85 and the 52-week low is Rs 273.15.