MAS Financial Services Ltd. (MASFIN) AI Stock Analysis

• Market Cap: ₹56.87B
• Dividend Yield: 0.48%
• Average Volume (3M): 14.11K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 0.66
• Revenue Growth: 24.45%
• EPS Growth: 10.58%
• Country: IN
• Employees: 1,892
• Sector: Financial
• Sector Strength: 71
• Industry: Financial - Credit Services
• EPS (TTM): 4.60
• Shares Outstanding: 181,453,380
• 10 Day Avg. Volume: 6,274
• 30 Day Avg. Volume: 14,114
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹329.00
• Price Target Upside: 5.40% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 64 Neutral
• Price Target: ₹329.00 ▲(5.40% Upside)

The overall stock score of 64 reflects strong financial performance in terms of revenue and profitability, but is tempered by operational and liquidity challenges. Technical indicators suggest potential bearish momentum, while valuation metrics indicate fair pricing. The absence of earnings call data and corporate events limits further insights.

MAS Financial Services Ltd. Business Overview & Revenue Model

Company Description

MAS Financial Services Ltd. (MASFIN) is a leading non-banking financial company (NBFC) in India, specializing in micro-finance, small and medium enterprise financing, and two-wheeler financing. The company primarily operates in the semi-urban and rural regions, aiming to provide financial services to underserved sectors. MASFIN offers a range of financial products, including micro-enterprise loans, SME loans, two-wheeler loans, and commercial vehicle loans, catering to a diverse customer base.

How the Company Makes Money

MAS Financial Services Ltd. generates revenue primarily through the interest income from its diverse range of loan products. The key revenue streams include micro-enterprise loans, SME loans, two-wheeler loans, and commercial vehicle loans. Interest rates on these loans are designed to cover the cost of capital, operational expenses, and risks associated with lending to underserved sectors. The company also collaborates with various banks and financial institutions to source funding, which it then disburses as loans. Partnerships with local stakeholders help in reaching a wider customer base and ensuring repayment efficiency. Additionally, MASFIN benefits from fee-based income through processing fees, late payment charges, and other service-related charges, which contribute to its earnings.

MAS Financial Services Ltd. Financial Statement Overview

Summary

MAS Financial Services Ltd. demonstrates strong revenue growth and profitability, with a solid net profit margin. However, the declining EBIT margin indicates rising operational costs. The high debt-to-equity ratio poses a leverage risk, and negative cash flows highlight liquidity challenges.

Income Statement

MAS Financial Services Ltd. shows strong revenue growth with a substantial increase in total revenue from 2024 to 2025. The gross profit margin is robust, indicating effective cost management. However, the decline in EBIT margin suggests rising operational costs. Net profit margin is solid, reflecting overall profitability improvements.

Balance Sheet

The company has a high debt-to-equity ratio, indicating significant leverage, which could pose a risk if not managed prudently. However, the return on equity is commendable, showcasing effective use of equity to generate profits. The equity ratio remains stable, reflecting a consistent capital structure.

Cash Flow

The cash flow situation is concerning, with negative operating and free cash flows indicating cash outflows exceeding inflows. This may affect liquidity if not addressed. The operating cash flow to net income ratio is negative, highlighting potential cash generation issues despite profitability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.20B	16.00B	12.83B	9.78B	6.88B	6.28B
Gross Profit	7.64B	7.64B	5.95B	2.70B	2.07B	2.26B
EBITDA	4.75B	5.55B	3.44B	7.40B	5.34B	4.54B
Net Income	3.10B	3.10B	2.51B	2.03B	1.59B	1.44B
Balance Sheet
Total Assets	121.99B	121.99B	95.47B	80.14B	63.22B	54.30B
Cash, Cash Equivalents and Short-Term Investments	11.41B	11.41B	14.19B	8.04B	10.49B	11.00B
Total Debt	91.56B	91.56B	74.26B	61.28B	44.39B	35.13B
Total Liabilities	95.49B	95.49B	77.29B	64.69B	49.82B	42.29B
Stockholders Equity	26.09B	26.09B	17.83B	15.19B	13.50B	11.80B
Cash Flow
Free Cash Flow	0.00	-11.63B	-13.88B	-14.99B	-8.08B	-5.80B
Operating Cash Flow	0.00	-11.33B	-13.66B	-14.88B	-8.02B	-5.78B
Investing Cash Flow	0.00	-8.28B	500.80M	-2.42B	-8.20B	-1.99B
Financing Cash Flow	0.00	21.98B	12.90B	16.84B	9.23B	7.19B

MAS Financial Services Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 312.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MASFIN, the sentiment is Positive. The current price of 312.15 is above the 20-day moving average (MA) of 309.08, above the 50-day MA of 310.08, and above the 200-day MA of 276.40, indicating a bullish trend. The MACD of -0.95 indicates Negative momentum. The RSI at 52.18 is Neutral, neither overbought nor oversold. The STOCH value of 75.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MASFIN.

MAS Financial Services Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FEDFINA	74 Outperform	₹51.21B	21.79		―	21.41%	-16.96%
Sector *	68 Neutral	$17.49B	11.70	10.34%	3.85%	9.75%	0.63%
MASFIN	64 Neutral	₹56.87B	17.54		0.48%	24.45%	10.58%
ARMANFIN	60 Neutral	₹14.94B	258.42		―	0.02%	-96.51%
SPANDANA	48 Neutral	₹17.48B	26.37		―	-26.77%	-431.45%
EQUITASBNK	46 Neutral	₹62.33B	44.89		1.83%	13.47%	-115.98%

MAS Financial Services Ltd. Corporate Events

MAS Financial Services Announces Share Transmission to Estate

MAS Financial Services Ltd. has announced the transmission of 26.66% shareholding from the late Mr. Mukesh Chimanlal Gandhi to the Estate of Mukesh Chimanlal Gandhi, as part of a legal process following his passing. This move is in compliance with the SEBI regulations, allowing the shares to be transferred to the MCG Private Family Trust, with Kamlesh Gandhi acting as the executor of the will.