About Mas Financial Services Limited
Data last updated: 18 July 2026
Mas Financial Services Limited is a public limited company based in Ahmedabad, Gujarat, India. It specialises in investment and credit NBFC, a part of the broader financial services sector. Incorporated on 25 May 1995, the company has been in operation for over 31 years.
Registered with ROC Ahmedabad under CIN U65910GJ1995PLC026064. Listed on BSE: 540749 and NSE: MASFIN.
Capital: an authorised share capital of ₹200 Cr and a paid-up capital of ₹181.45 Cr. It is led by directors including Kamlesh Chimanlal Gandhi and Umesh Rajanikant Shah.
Last AGM: 03 September 2025. Financial statements filed for year ended 31 March 2025. Office: 6 Narayan Chambers Gr Flr B/H Patang Hotel Ashram Road, Ahmedabad, Gujarat, India – 380009.
As per NSE-filed consolidated financials for FY 2026, the company reported a revenue of ₹1,995.43 Cr, a growth of 25.03% compared to the previous year. The net worth stands at ₹3,036.43 Cr (up 14.56% YoY). Total assets are valued at ₹13,747 Cr (up 12.69% YoY).
The company has a workforce of approximately 1,683 employees as per the latest available data.
The company is associated with 2 brands - Mas Home Loans, Mas Financial Services. As per MCA filings, the company has open charges of ₹15,378 Cr and satisfied charges of ₹8,467.55 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mas.co.in.
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Registered Address6 Narayan Chambers Gr Flr B/H Patang Hotel Ashram Road, Ahmedabad, Gujarat, India – 380009
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IndustryFinancial Services, Investment & Credit NBFC, NBFC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Mas Financial Services Limited
Mas Financial Services Limited has one previous CIN (Corporate Identification Number): U65910GJ1995PLC026064. The current CIN is L65910GJ1995PLC026064, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L65910GJ1995PLC026064 | Current |
| U65910GJ1995PLC026064 | Previous |
Associated Brands with Mas Financial Services Limited
Mas Financial Services Limited operates two associated brands: MAS Home Loans and Mas Financial Services. These brands represent Mas Financial Services Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Provides home loans tailored for semi-urban and rural communities. | mrhmfl.co.in | |
| Financial services and loans are provided to individuals and businesses. | mas.co.in |
Competitors & Alternatives of Mas Financial Services Limited
Brands and companies operating in the same space as Mas Financial Services Limited include Manappuram Finance, HomeFirst Finance, L & T Finance Holdings and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Manappuram Finance
|
Consumer and SME loans are provided by Manappuram Finance. | Valapad, India, India | 1992 |
HomeFirst Finance
|
Affordable home loans are extended to low and middle-income groups. | Mumbai, India, India | 2010 |
L & T Finance Holdings
|
Diversified lending services are provided as a non-banking financial institution. | Mumbai, India, India | 1994 |
Bajaj Finserv
|
Financial solutions including loans and insurance are offered. | Pune, India, India | 2007 |
Northern Arc Capital
|
Household and business loans are provided with risk management support. | Chennai, India, India | 2006 |
IIFL Finance
|
Online gold, home, personal, and business loans are provided. | Mumbai, India, India | 1995 |
India Shelter Finance Corporation
|
Housing loans are extended to middle-income households in India. | Gurugram, India, India | 2010 |
HDFC
|
Provider of housing finance solutions | Mumbai, India, India | 1977 |
Aadhar Housing Finance
|
Loans for affordable housing in tier 2,3 and 4 cities | Mumbai, India, India | 2010 |
Mahindra Finance
|
Consumer and SME loans are provided by Mahindra Finance. | Mumbai, India, India | 1991 |
Business Activity of Mas Financial Services Limited
Mas Financial Services Limited is engaged in the principal business activity of financial and insurance service, with detailed activities including other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details for Mas Financial Services Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Mas Financial Services Limited
Mas Financial Services Limited is audited by Sorab S. Engineer & Co. (ICAI peer reviewed, certificate valid till 2028-12-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| Sorab S. Engineer & Co. (ICAI peer reviewed, certificate valid till 2028-12-31) | FY 2026 | Declaration of unmodified opinion |
Board of Directors of Mas Financial Services Limited
Mas Financial Services Limited is currently managed by 7 directors, with 16 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Kamlesh Chimanlal Gandhi
Also directs:
Anamaya Capital Llp, Prarthna Marketing Private Limited, Masfin Insurance Broking Private Limited and 4 more
|
Managing Director | 25 Mar 2010 | 16 Years 3 Months | Current |
| Umesh Rajanikant Shah | Director | 21 Dec 2016 | 9 Years 7 Months | Current |
|
Darshana Saumil Pandya
Also directs:
Prarthna Marketing Private Limited, Masfin Insurance Broking Private Limited, Swalamb Mass Financial Services Ltd. and 1 more
|
Whole-Time Director | 23 Sep 2016 | 9 Years 9 Months | Current |
| Barnali Chaklader | Director | 04 Mar 2025 | 1 Years 4 Months | Current |
| Dhvanil Kamlesh Gandhi | Whole-Time Director | 14 Aug 2024 | 1 Years 11 Months | Current |
|
Vishal Vasu
Also directs:
Mas Rural Housing & Mortgage Finance Limited, Dev Information Technology Limited, Unicred Technologies Private Limited and 1 more
|
Director | 24 Apr 2024 | 2 Years 2 Months | Current |
Financials of Mas Financial Services Limited FY 2026 filings available
Mas Financial Services Limited reported revenue of ₹1,995.43 Cr (up 25.03% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹1,995.43 Cr | ₹1,595.97 Cr | ₹1,279.16 Cr | ₹987.83 Cr | ₹690.17 Cr | ₹626.98 Cr | ₹722.06 Cr |
| Interest Earned | ₹1,648.72 Cr | ₹1,359.25 Cr | ₹1,077.09 Cr | ₹843.27 Cr | ₹601.68 Cr | ₹517.29 Cr | ₹596.91 Cr |
| Other Income | ₹6.84 Cr | ₹4.18 Cr | ₹6.52 Cr | ₹2.43 Cr | ₹93.4 Lakh | ₹73.2 Lakh | ₹35.91 Lakh |
| Total Income | ₹2,002.27 Cr | ₹1,600.15 Cr | ₹1,285.68 Cr | ₹990.26 Cr | ₹691.11 Cr | ₹627.71 Cr | ₹722.42 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹170.58 Cr | ₹134.06 Cr | ₹100.45 Cr | ₹70.7 Cr | ₹47.79 Cr | ₹35.03 Cr | ₹58.69 Cr |
| Finance Costs | ₹906.69 Cr | ₹762.8 Cr | ₹646.71 Cr | ₹496.01 Cr | ₹338.68 Cr | ₹284.94 Cr | ₹296.11 Cr |
| Depreciation & Amortisation | ₹7.24 Cr | ₹5.6 Cr | ₹4.29 Cr | ₹2.72 Cr | ₹2.07 Cr | ₹2.57 Cr | ₹2.85 Cr |
| Other Expenses | ₹102.17 Cr | ₹80.8 Cr | ₹55.15 Cr | ₹38.58 Cr | ₹27.71 Cr | ₹25.11 Cr | ₹31.2 Cr |
| Total Expenses | ₹1,492.46 Cr | ₹1,179.14 Cr | ₹946.01 Cr | ₹718.61 Cr | ₹474.62 Cr | ₹431.74 Cr | ₹483.82 Cr |
| Profit Before Exceptional Items & Tax | ₹509.81 Cr | ₹421.01 Cr | ₹339.67 Cr | ₹271.65 Cr | ₹216.48 Cr | ₹195.97 Cr | ₹238.6 Cr |
| Exceptional Items | -₹4.82 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹504.99 Cr | ₹421.01 Cr | ₹339.67 Cr | ₹271.65 Cr | ₹216.48 Cr | ₹195.97 Cr | ₹238.6 Cr |
| Total Tax Expense | ₹129.17 Cr | ₹107.03 Cr | ₹85.66 Cr | ₹65.83 Cr | ₹55.33 Cr | ₹50.44 Cr | ₹57.34 Cr |
| Net Profit | ₹375.82 Cr | ₹313.98 Cr | ₹254.01 Cr | ₹205.82 Cr | ₹161.15 Cr | ₹145.52 Cr | - |
| attributable to Owners | ₹371.21 Cr | ₹310.38 Cr | ₹251.05 Cr | ₹203.26 Cr | ₹159.31 Cr | ₹144.36 Cr | ₹179.96 Cr |
| attributable to NCI | ₹4.61 Cr | ₹3.6 Cr | ₹2.96 Cr | ₹2.56 Cr | ₹1.84 Cr | ₹1.16 Cr | ₹1.3 Cr |
| Other Comprehensive Income | -₹4.43 Cr | ₹15.17 Cr | ₹13.9 Cr | -₹18.42 Cr | -₹7.77 Cr | ₹7.75 Cr | ₹4.73 Cr |
| Total Comprehensive Income | ₹371.39 Cr | ₹329.15 Cr | ₹267.91 Cr | ₹187.4 Cr | ₹153.38 Cr | ₹153.28 Cr | ₹185.99 Cr |
| EBITDA (computed) | ₹1,423.74 Cr | ₹1,189.41 Cr | ₹990.67 Cr | ₹770.38 Cr | ₹557.24 Cr | ₹483.48 Cr | ₹537.56 Cr |
| Basic EPS | ₹20.46 | ₹17.48 | ₹15.31 | ₹37.18 | ₹29.14 | ₹26.41 | ₹32.92 |
| Diluted EPS | ₹20.46 | ₹17.48 | ₹15.31 | ₹37.18 | ₹29.14 | ₹26.41 | ₹32.92 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹13,747 Cr | ₹12,199 Cr | ₹9,547.34 Cr | ₹8,013.76 Cr |
| Property, Plant & Equipment | ₹64.61 Cr | ₹21.32 Cr | ₹21.23 Cr | ₹14.66 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Cash & Equivalents | ₹223.66 Cr | ₹448.65 Cr | ₹212.67 Cr | ₹238.67 Cr |
| Equity (Net Worth) | ₹3,036.43 Cr | ₹2,650.47 Cr | ₹1,818.57 Cr | ₹1,544.67 Cr |
| Equity Share Capital | ₹181.45 Cr | ₹181.45 Cr | ₹163.99 Cr | ₹54.66 Cr |
| Total Liabilities | ₹10,710 Cr | ₹9,548.54 Cr | - | - |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹1,786.77 Cr | -₹1,133.48 Cr | -₹1,366.05 Cr | -₹1,487.95 Cr | -₹802.35 Cr |
| Investing Cash Flow | ₹467.01 Cr | -₹828.19 Cr | ₹50.08 Cr | -₹242.04 Cr | -₹819.89 Cr |
| Financing Cash Flow | ₹1,094.77 Cr | ₹2,197.65 Cr | ₹1,289.97 Cr | ₹1,684.02 Cr | ₹922.69 Cr |
| Capital Expenditure | ₹79.53 Cr | ₹25.59 Cr | ₹21.55 Cr | ₹9.58 Cr | ₹5.11 Cr |
| Free Cash Flow (computed) | -₹1,866.3 Cr | -₹1,159.07 Cr | -₹1,387.6 Cr | -₹1,497.53 Cr | -₹807.46 Cr |
| Dividends Paid | ₹35.42 Cr | ₹27.43 Cr | ₹26.55 Cr | ₹19.45 Cr | ₹15.07 Cr |
| Net Change in Cash | -₹224.99 Cr | ₹235.98 Cr | -₹26 Cr | -₹45.97 Cr | -₹699.55 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹542.47 Cr | ₹506.75 Cr | ₹480.23 Cr | ₹465.98 Cr | ₹437.63 Cr | ₹409.73 Cr | ₹384.27 Cr | ₹364.34 Cr | ₹345.75 Cr | ₹340 Cr | ₹310.37 Cr | ₹292 Cr |
| Interest Earned | ₹450.23 Cr | ₹411.92 Cr | ₹397.77 Cr | ₹388.8 Cr | ₹371.99 Cr | ₹350.76 Cr | ₹325.13 Cr | ₹311.37 Cr | ₹291.28 Cr | ₹284.41 Cr | ₹262.16 Cr | ₹248.2 Cr |
| Other Income | ₹2.94 Cr | ₹1.05 Cr | ₹2.1 Cr | ₹75 Lakh | ₹1.48 Cr | ₹66 Lakh | ₹1.25 Cr | ₹79 Lakh | ₹1.44 Cr | ₹2.17 Cr | ₹2.52 Cr | ₹39 Lakh |
| Total Income | ₹545.41 Cr | ₹507.8 Cr | ₹482.33 Cr | ₹466.73 Cr | ₹439.11 Cr | ₹410.39 Cr | ₹385.52 Cr | ₹365.13 Cr | ₹347.19 Cr | ₹342.17 Cr | ₹312.89 Cr | ₹292.39 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹45.89 Cr | ₹45.4 Cr | ₹40.15 Cr | ₹39.14 Cr | ₹36.49 Cr | ₹33.85 Cr | ₹32.85 Cr | ₹30.87 Cr | ₹30.01 Cr | ₹26.15 Cr | ₹23.68 Cr | ₹20.61 Cr |
| Finance Costs | ₹234.69 Cr | ₹231.09 Cr | ₹223.81 Cr | ₹217.1 Cr | ₹201.68 Cr | ₹194.69 Cr | ₹185.39 Cr | ₹181.04 Cr | ₹170.89 Cr | ₹172.44 Cr | ₹153.63 Cr | ₹149.75 Cr |
| Depreciation & Amortisation | ₹2 Cr | ₹1.79 Cr | ₹1.78 Cr | ₹1.67 Cr | ₹1.52 Cr | ₹1.45 Cr | ₹1.36 Cr | ₹1.27 Cr | ₹1.2 Cr | ₹1.17 Cr | ₹1.06 Cr | ₹86 Lakh |
| Other Expenses | ₹27.97 Cr | ₹25.28 Cr | ₹24.87 Cr | ₹24.05 Cr | ₹21.8 Cr | ₹20.49 Cr | ₹19.49 Cr | ₹19.02 Cr | ₹17.9 Cr | ₹14.46 Cr | ₹12.86 Cr | ₹9.93 Cr |
| Total Expenses | ₹406.27 Cr | ₹375.9 Cr | ₹359.45 Cr | ₹350.84 Cr | ₹327.02 Cr | ₹302.4 Cr | ₹281.74 Cr | ₹267.98 Cr | ₹253.51 Cr | ₹255.23 Cr | ₹230.38 Cr | ₹215.85 Cr |
| Profit Before Exceptional Items & Tax | ₹139.14 Cr | ₹131.9 Cr | ₹122.88 Cr | ₹115.89 Cr | ₹112.09 Cr | ₹107.99 Cr | ₹103.78 Cr | ₹97.15 Cr | ₹93.68 Cr | ₹86.94 Cr | ₹82.51 Cr | ₹76.54 Cr |
| Exceptional Items | ₹0 | -₹4.82 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹139.14 Cr | ₹127.08 Cr | ₹122.88 Cr | ₹115.89 Cr | ₹112.09 Cr | ₹107.99 Cr | ₹103.78 Cr | ₹97.15 Cr | ₹93.68 Cr | ₹86.94 Cr | ₹82.51 Cr | ₹76.54 Cr |
| Total Tax Expense | ₹34.66 Cr | ₹33.76 Cr | ₹31.45 Cr | ₹29.3 Cr | ₹28.68 Cr | ₹27.6 Cr | ₹26.16 Cr | ₹24.59 Cr | ₹23.58 Cr | ₹22.53 Cr | ₹20.57 Cr | ₹18.98 Cr |
| Net Profit | ₹104.48 Cr | ₹93.32 Cr | ₹91.43 Cr | ₹86.59 Cr | ₹83.41 Cr | ₹80.39 Cr | ₹77.62 Cr | ₹72.56 Cr | ₹70.1 Cr | ₹64.41 Cr | ₹61.94 Cr | ₹57.56 Cr |
| attributable to Owners | ₹103.12 Cr | ₹92.2 Cr | ₹90.34 Cr | ₹85.55 Cr | ₹82.47 Cr | ₹0 | ₹76.72 Cr | ₹71.72 Cr | ₹69.36 Cr | ₹63.6 Cr | ₹61.17 Cr | ₹56.92 Cr |
| attributable to NCI | ₹1.36 Cr | ₹1.12 Cr | ₹1.09 Cr | ₹1.04 Cr | ₹94 Lakh | ₹0 | ₹90 Lakh | ₹84 Lakh | ₹74 Lakh | ₹81 Lakh | ₹77 Lakh | ₹64 Lakh |
| Other Comprehensive Income | ₹29 Lakh | -₹21.56 Cr | ₹25.14 Cr | -₹8.3 Cr | ₹3.14 Cr | ₹11.19 Cr | -₹1.87 Cr | ₹2.71 Cr | ₹8.32 Cr | -₹56 Lakh | -₹2.93 Cr | ₹9.07 Cr |
| Total Comprehensive Income | ₹104.77 Cr | ₹71.76 Cr | ₹116.57 Cr | ₹78.29 Cr | ₹86.55 Cr | ₹91.58 Cr | ₹75.75 Cr | ₹75.27 Cr | ₹78.42 Cr | ₹63.85 Cr | ₹59.01 Cr | ₹66.63 Cr |
| EBITDA (computed) | ₹375.83 Cr | ₹364.78 Cr | ₹348.47 Cr | ₹334.66 Cr | ₹315.29 Cr | ₹304.13 Cr | ₹290.53 Cr | ₹279.46 Cr | ₹265.77 Cr | ₹260.55 Cr | ₹237.2 Cr | ₹227.15 Cr |
| Basic EPS | ₹5.69 | ₹5.08 | ₹4.98 | ₹4.82 | ₹4.55 | ₹3.88 | ₹4.73 | ₹4.32 | ₹4.23 | ₹11.64 | ₹11.19 | ₹10.41 |
| Diluted EPS | ₹5.69 | ₹5.08 | ₹4.98 | ₹4.82 | ₹4.55 | ₹3.88 | ₹4.73 | ₹4.32 | ₹4.23 | ₹11.64 | ₹11.19 | ₹10.41 |
| Segment · Q4 FY26 (latest quarter) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Financing activities | ₹544.07 Cr | ₹137.87 Cr | ₹13,745 Cr | ₹10,710 Cr |
| Others | ₹1.34 Cr | ₹1.27 Cr | ₹1.77 Cr | ₹24 Lakh |
| Segment · FY 2026 (annual) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| Financing activities | ₹2,000.92 Cr | ₹503.95 Cr | - | - |
| Others | ₹1.35 Cr | ₹1.04 Cr | - | - |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹1,894.51 Cr | ₹1,517.19 Cr | ₹1,217.15 Cr | ₹946.09 Cr | ₹655.94 Cr | ₹592.18 Cr | ₹682.4 Cr |
| Interest Earned | ₹1,558.12 Cr | ₹1,289.64 Cr | ₹1,022.28 Cr | ₹806.57 Cr | ₹569.48 Cr | ₹483.07 Cr | ₹559.17 Cr |
| Other Income | ₹5.82 Cr | ₹3.26 Cr | ₹7.42 Cr | ₹3 Cr | ₹1.51 Cr | ₹1.71 Cr | ₹71.75 Lakh |
| Total Income | ₹1,900.33 Cr | ₹1,520.45 Cr | ₹1,224.57 Cr | ₹949.09 Cr | ₹657.45 Cr | ₹593.89 Cr | ₹683.12 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹146.41 Cr | ₹114.84 Cr | ₹87.05 Cr | ₹62.49 Cr | ₹42.23 Cr | ₹29.73 Cr | ₹52.41 Cr |
| Finance Costs | ₹858.67 Cr | ₹722.38 Cr | ₹614.16 Cr | ₹474.82 Cr | ₹319.54 Cr | ₹264.49 Cr | ₹272.02 Cr |
| Depreciation & Amortisation | ₹6.37 Cr | ₹4.91 Cr | ₹3.81 Cr | ₹2.4 Cr | ₹1.78 Cr | ₹2.13 Cr | ₹2.32 Cr |
| Other Expenses | ₹93.48 Cr | ₹74.27 Cr | ₹49.78 Cr | ₹34.44 Cr | ₹25.05 Cr | ₹23.52 Cr | ₹29.12 Cr |
| Total Expenses | ₹1,407.26 Cr | ₹1,110.02 Cr | ₹893.15 Cr | ₹684.39 Cr | ₹445.78 Cr | ₹401 Cr | ₹448.64 Cr |
| Profit Before Exceptional Items & Tax | ₹493.07 Cr | ₹410.43 Cr | ₹331.42 Cr | ₹264.7 Cr | ₹211.67 Cr | ₹192.89 Cr | ₹234.48 Cr |
| Exceptional Items | -₹4.24 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹488.83 Cr | ₹410.43 Cr | ₹331.42 Cr | ₹264.7 Cr | ₹211.67 Cr | ₹192.89 Cr | ₹234.48 Cr |
| Total Tax Expense | ₹125.18 Cr | ₹104.5 Cr | ₹83.67 Cr | ₹63.74 Cr | ₹53.84 Cr | ₹49.39 Cr | ₹56.26 Cr |
| Net Profit | ₹363.65 Cr | ₹305.93 Cr | ₹247.75 Cr | ₹200.96 Cr | ₹157.83 Cr | ₹143.5 Cr | - |
| attributable to Owners | - | - | - | - | - | - | ₹0 |
| attributable to NCI | - | - | - | - | - | - | ₹0 |
| Other Comprehensive Income | -₹5.35 Cr | ₹14.28 Cr | ₹15.75 Cr | -₹19.45 Cr | -₹7.58 Cr | ₹7.51 Cr | ₹4.7 Cr |
| Total Comprehensive Income | ₹358.3 Cr | ₹320.21 Cr | ₹263.5 Cr | ₹181.51 Cr | ₹150.25 Cr | ₹151.01 Cr | ₹182.92 Cr |
| EBITDA (computed) | ₹1,358.11 Cr | ₹1,137.72 Cr | ₹949.39 Cr | ₹741.92 Cr | ₹532.98 Cr | ₹459.51 Cr | ₹508.81 Cr |
| Basic EPS | ₹20.04 | ₹17.23 | ₹15.11 | ₹36.76 | ₹28.87 | ₹26.25 | ₹32.60 |
| Diluted EPS | ₹20.04 | ₹17.23 | ₹15.11 | ₹36.76 | ₹28.87 | ₹26.25 | ₹32.60 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹13,101 Cr | ₹11,664 Cr | ₹9,109.24 Cr | ₹7,676.52 Cr |
| Property, Plant & Equipment | ₹61.66 Cr | ₹18.91 Cr | ₹18.63 Cr | ₹13.95 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Cash & Equivalents | ₹209.68 Cr | ₹437.97 Cr | ₹178.02 Cr | ₹237.86 Cr |
| Equity (Net Worth) | ₹2,952.63 Cr | ₹2,585.8 Cr | ₹1,768.96 Cr | ₹1,505.73 Cr |
| Equity Share Capital | ₹181.45 Cr | ₹181.45 Cr | ₹163.99 Cr | ₹54.66 Cr |
| Total Liabilities | ₹10,149 Cr | ₹9,078.69 Cr | - | - |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹1,671.99 Cr | -₹1,019.91 Cr | -₹1,282.84 Cr | -₹1,405.45 Cr | -₹820.84 Cr |
| Investing Cash Flow | ₹450.72 Cr | -₹834.91 Cr | ₹25.89 Cr | -₹228.54 Cr | -₹805.31 Cr |
| Financing Cash Flow | ₹992.99 Cr | ₹2,114.77 Cr | ₹1,197.11 Cr | ₹1,601.27 Cr | ₹934.6 Cr |
| Capital Expenditure | ₹78.33 Cr | ₹29.35 Cr | ₹19.95 Cr | ₹9.17 Cr | ₹4.99 Cr |
| Free Cash Flow (computed) | -₹1,750.32 Cr | -₹1,049.26 Cr | -₹1,302.79 Cr | -₹1,414.62 Cr | -₹825.84 Cr |
| Dividends Paid | ₹35.38 Cr | ₹27.39 Cr | ₹26.51 Cr | ₹19.41 Cr | ₹15.03 Cr |
| Net Change in Cash | -₹228.28 Cr | ₹259.95 Cr | -₹59.84 Cr | -₹32.72 Cr | -₹691.55 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹514 Cr | ₹481.42 Cr | ₹455.68 Cr | ₹443.41 Cr | ₹416.51 Cr | ₹389.71 Cr | ₹365.05 Cr | ₹345.92 Cr | ₹328.1 Cr | ₹323.64 Cr | ₹295.82 Cr | ₹278.55 Cr |
| Interest Earned | ₹424.21 Cr | ₹389.15 Cr | ₹376.04 Cr | ₹368.72 Cr | ₹353.45 Cr | ₹333.2 Cr | ₹307.83 Cr | ₹295.16 Cr | ₹275.69 Cr | ₹270.28 Cr | ₹249.04 Cr | ₹236.23 Cr |
| Other Income | ₹2.37 Cr | ₹16 Lakh | ₹2.93 Cr | ₹36 Lakh | ₹40 Lakh | ₹38 Lakh | ₹1.9 Cr | ₹58 Lakh | ₹1.43 Cr | ₹2.13 Cr | ₹2.34 Cr | ₹1.52 Cr |
| Total Income | ₹516.37 Cr | ₹481.58 Cr | ₹458.61 Cr | ₹443.77 Cr | ₹416.91 Cr | ₹390.09 Cr | ₹366.95 Cr | ₹346.5 Cr | ₹329.53 Cr | ₹325.77 Cr | ₹298.16 Cr | ₹280.07 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹39.44 Cr | ₹39.35 Cr | ₹34.17 Cr | ₹33.45 Cr | ₹31.38 Cr | ₹28.7 Cr | ₹28.08 Cr | ₹26.68 Cr | ₹26.05 Cr | ₹22.48 Cr | ₹20.61 Cr | ₹17.91 Cr |
| Finance Costs | ₹221.85 Cr | ₹219.08 Cr | ₹211.56 Cr | ₹206.18 Cr | ₹191 Cr | ₹184.54 Cr | ₹175.4 Cr | ₹171.44 Cr | ₹161.52 Cr | ₹163.75 Cr | ₹146.13 Cr | ₹142.76 Cr |
| Depreciation & Amortisation | ₹1.77 Cr | ₹1.57 Cr | ₹1.56 Cr | ₹1.47 Cr | ₹1.34 Cr | ₹1.27 Cr | ₹1.19 Cr | ₹1.11 Cr | ₹1.06 Cr | ₹1.07 Cr | ₹91 Lakh | ₹77 Lakh |
| Other Expenses | ₹25.56 Cr | ₹23.18 Cr | ₹22.82 Cr | ₹21.92 Cr | ₹19.95 Cr | ₹18.81 Cr | ₹17.82 Cr | ₹17.69 Cr | ₹16.51 Cr | ₹12.97 Cr | ₹11.52 Cr | ₹8.78 Cr |
| Total Expenses | ₹383.24 Cr | ₹354.3 Cr | ₹338.38 Cr | ₹331.34 Cr | ₹308.04 Cr | ₹284.99 Cr | ₹264.88 Cr | ₹252.11 Cr | ₹238.44 Cr | ₹241.26 Cr | ₹218.14 Cr | ₹204.27 Cr |
| Profit Before Exceptional Items & Tax | ₹133.13 Cr | ₹127.28 Cr | ₹120.23 Cr | ₹112.43 Cr | ₹108.87 Cr | ₹105.1 Cr | ₹102.07 Cr | ₹94.39 Cr | ₹91.09 Cr | ₹84.51 Cr | ₹80.02 Cr | ₹75.8 Cr |
| Exceptional Items | ₹0 | -₹4.24 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹133.13 Cr | ₹123.04 Cr | ₹120.23 Cr | ₹112.43 Cr | ₹108.87 Cr | ₹105.1 Cr | ₹102.07 Cr | ₹94.39 Cr | ₹91.09 Cr | ₹84.51 Cr | ₹80.02 Cr | ₹75.8 Cr |
| Total Tax Expense | ₹33.41 Cr | ₹32.71 Cr | ₹30.53 Cr | ₹28.53 Cr | ₹28.05 Cr | ₹26.99 Cr | ₹25.5 Cr | ₹23.96 Cr | ₹23.04 Cr | ₹22.07 Cr | ₹20.01 Cr | ₹18.55 Cr |
| Net Profit | ₹99.72 Cr | ₹90.33 Cr | ₹89.7 Cr | ₹83.9 Cr | ₹80.82 Cr | ₹78.11 Cr | ₹76.57 Cr | ₹70.43 Cr | ₹68.05 Cr | ₹62.44 Cr | ₹60.01 Cr | ₹57.25 Cr |
| Other Comprehensive Income | -₹3.54 Cr | -₹21.29 Cr | ₹26.62 Cr | -₹7.14 Cr | ₹3.03 Cr | ₹13.53 Cr | ₹4.09 Cr | ₹1.81 Cr | ₹9.04 Cr | -₹63 Lakh | -₹2.82 Cr | ₹10.16 Cr |
| Total Comprehensive Income | ₹96.18 Cr | ₹69.04 Cr | ₹116.32 Cr | ₹76.76 Cr | ₹83.85 Cr | ₹91.64 Cr | ₹80.66 Cr | ₹72.24 Cr | ₹77.09 Cr | ₹61.81 Cr | ₹57.19 Cr | ₹67.41 Cr |
| EBITDA (computed) | ₹356.75 Cr | ₹347.93 Cr | ₹333.35 Cr | ₹320.08 Cr | ₹301.21 Cr | ₹290.91 Cr | ₹278.66 Cr | ₹266.94 Cr | ₹253.67 Cr | ₹249.33 Cr | ₹227.06 Cr | ₹219.33 Cr |
| Basic EPS | ₹5.49 | ₹4.98 | ₹4.94 | ₹4.62 | ₹4.46 | ₹4.31 | ₹4.21 | ₹4.25 | ₹4.15 | ₹11.42 | ₹10.98 | ₹10.47 |
| Diluted EPS | ₹5.49 | ₹4.98 | ₹4.94 | ₹4.62 | ₹4.46 | ₹4.31 | ₹4.21 | ₹4.25 | ₹4.15 | ₹11.42 | ₹10.98 | ₹10.47 |
Board & Governance of Mas Financial Services Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Mas Financial Services Limited has 7 directors - 4 independent and 3 executive. The board is chaired by KAMLESH CHIMANLAL GANDHI.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| KAMLESH CHIMANLAL GANDHI | Executive Director · MD · Chairperson | 1995-05-25 | 1 |
| DARSHANA SAUMIL PANDYA | Executive Director · CEO | 2016-09-23 | 1 |
| DHVANIL KAMLESH GANDHI | Executive Director | 2024-08-14 | 1 |
| UMESH RAJANIKANT SHAH | Non-Executive - Independent Director | 2016-12-21 | 1 |
| NARAYANAN SADANANDAN | Non-Executive - Independent Director | 2023-06-21 | 4 |
| VISHAL VASU | Non-Executive - Independent Director | 2024-04-24 | 2 |
| BARNALI CHAKLADER | Non-Executive - Independent Director | 2025-03-04 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | UMESH RAJANIKANT SHAH (Chairperson), DARSHANA SAUMIL PANDYA, NARAYANAN SADANANDAN |
| Nomination and remuneration committee | UMESH RAJANIKANT SHAH (Chairperson), NARAYANAN SADANANDAN, VISHAL VASU |
| Stakeholders Relationship Committee | NARAYANAN SADANANDAN (Chairperson), DARSHANA SAUMIL PANDYA, UMESH RAJANIKANT SHAH |
| Risk Management Committee | NARAYANAN SADANANDAN (Chairperson), DARSHANA SAUMIL PANDYA, DHVANIL KAMLESH GANDHI, UMESH RAJANIKANT SHAH |
| Corporate Social Responsibility Committee | NARAYANAN SADANANDAN (Chairperson), DARSHANA SAUMIL PANDYA, UMESH RAJANIKANT SHAH |
Charges & Borrowings of Mas Financial Services Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 26 Jun 2026 | Others | ₹150 Cr | Open |
| 25 Jun 2026 | Others | ₹40 Cr | Open |
| 25 Jun 2026 | Others | ₹100 Cr | Open |
| 12 Jun 2026 | Others | ₹250 Cr | Open |
| 11 Jun 2026 | City Union Bank Limited | ₹50 Cr | Open |
Total charge records: 285 View all charges
Employees and EPFO Compliance at Mas Financial Services Limited
View historical data on people associated with Mas Financial Services Limited, including employment history and EPFO contributions.
Employee and EPFO history for Mas Financial Services Limited
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GST Compliance of Mas Financial Services Limited
GST registrations and filing compliance for Mas Financial Services Limited
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Credit Ratings, Litigation & Regulatory Alerts for Mas Financial Services Limited
Credit ratings, litigation, and regulatory alerts for Mas Financial Services Limited
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MSME Payment Delays by Mas Financial Services Limited
MSME payment history for Mas Financial Services Limited
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Subsidiaries & Group Companies of Mas Financial Services Limited
Corporate group structure for Mas Financial Services Limited
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MCA Filings & Documents of Mas Financial Services Limited
MCA filings and documents for Mas Financial Services Limited
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Recent Activity on Mas Financial Services Limited
Recent News on Mas Financial Services Limited
Frequently Asked Questions about Mas Financial Services Limited
Mas Financial Services Limited is an active public limited company in the financial services sector based in Ahmedabad, Gujarat, India. It was incorporated on 25 May 1995 (31+ years old) and is registered under CIN L65910GJ1995PLC026064. Listed on BSE: 540749 and NSE: MASFIN. The company has 1,683 employees.
Mas Financial Services Limited reported revenue of ₹1,995.43 Cr for FY 2026 (up 25.03% YoY) based on consolidated NSE filings.
The current directors of Mas Financial Services Limited are:
- Kamlesh Chimanlal Gandhi - Managing Director
- Umesh Rajanikant Shah - Director
- Darshana Saumil Pandya - Whole-Time Director
- Barnali Chaklader - Director
- Dhvanil Kamlesh Gandhi - Whole-Time Director
- Vishal Vasu - Director
- Narayanan Sadanandan - Director
The primary industry of Mas Financial Services Limited is financial services. The company specifically operates in investment and credit nbfc. The company is currently active in this sector.
Yes. Mas Financial Services Limited is listed on both BSE (code: 540749) and NSE (symbol: MASFIN).
Mas Financial Services Limited can be reached at the registered office: 6 Narayan Chambers Gr Flr BH Patang Hotel Ashram Road, Ahmedabad, Gujarat, India – 380009, or through the website mas.co.in.