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MAS Financial Services Results: Latest Quarterly Results & Analysis

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Mas Financial Services Ltd. 05 Nov 2025 15:16 PM
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Q2FY26 Quarterly Result Announced for Mas Financial Services Ltd.

Finance company Mas Financial Services announced Q2FY26 results

Consolidated Financial Highlights:

  • MAS Financia! Services Limited on a consolidated basis reports Assets under Management (AUM) of Rs 13,821.14 crore and Profit after Tax (PAT) of Rs 91.43 crore for the quarter ended 30th September 2025 from Rs 11,581.18 crore and Rs 77.62 crore respectively for the quarter ended 30th September 2024
  • The consolidated disbursement was Rs 3,259.15 crore during the quarter ended 30th September 2025 while extending credit where it is due.
  • A Growth of 18.32% in AUM and 17.79% in PAT over the corresponding quarter of the previous year

Standalone Financial Highlights:

  • MAS Financial Services Limited reports Assets under Management (AUM) of Rs 12,999.114 crore and Profit after Tax (PAT) of Rs 89.70 crore for the quarter ended 30th September 2025 from Rs 11,016.65 crore and Rs 76.57 crore respectively for the quarter ended 30th September 2024. The AUM as on 30th June 2025 was Rs 12,504.60 crore.
  • The standalone disbursement was Rs 3,197.31 crore during the quarter ended 3oth September 2025.

Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, "The performance of the company as demonstrated over three decades was consistent and robust demonstrating our capabilities of navigating through tough cycles successfully. Going forward we are confident to maintain a strong growth momentum backed by very strong enablers.

Team MAS remains committed to its mission of "Excellence through endeavors." which we now reckon as "PURPOSE LED PROGRESS DRIVEN"

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Finance company Mas Financial Services announced Q1FY26 results

  • Assets under Management (AUM) of Rs 13,298.50 crore.
  • Profit after Tax (PAT) of Rs 86.59 crore for Q1FY26 from Rs 11,006.72 crore and Rs 72.56 crore respectively for Q1FY25.
  • A Growth of 20.82% in AUM and 19.34% in PAT over the Q1FY25.

Kamlesh Gandhi - Founder, Chairman & Managing Director, said: "The performance of the company even during these trying times, demonstrates our capability of navigating through tough cycles successfully which is proved many times during this long journey of 30 years. Going forward we are confident to maintain our fundamentally strong growth momentum backed by very strong enablers.

Team MAS remains committed to its mission of "Excellence through endeavors." which we now reckon as"PURPOSE LED PROGRESS DRIVEN"

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Finance company Mas Financial Services announced Q4FY25 results

  • PAT: Rs 83.4 crore compared to Rs 70.1 crore during Q4FY24, change 18.97%.
  • AUM: Rs 12867.91 crore compared to Rs 10,721.9 crore during Q4FY24, change 20.02%.
  • For FY25, the PAT stands at Rs 313.97 crore - A growth of 23.61% over FY24.

Kamlesh Gandhi, Founder, Chairman & Managing Director, said: "The performance of the company even during these trying times, "Speaks louder than words". We remain steadfast in our commitment to prioritize risk management and profitability while focusing on growing consistently. Going forward we are confident to maintain our fundamentally strong growth momentum backed by very strong enablers.

Team MAS remains committed to its mission of excellence through endeavours."

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Finance company Mas Financial Services announced Q3FY25 results

  • Assets under Management (AUM) of Rs 11677.38 crore and Profit after Tax (PAT) of Rs 78.11 crore for Q3FY25 from Rs 9672.03 crore and Rs 62.44 crore respectively for Q3FY24. The AUM as on 30th September 2024 was Rs 11016.65 crore.
    • A Growth of 20.73% in AUM and 25.09% in PAT over the corresponding period of Q3FY24.
  • Capital Adequacy Ratio (including Tier ll capital) as of 31st December 2024 stood at 25.34%. The Tier-l capital stood al 23.13%.
  • The portfolio quality remained stable and strong at 2.41% gross stage 3 assets and 1.62% net stage 3 assets of AUM as compared to 2.36% gross stage 3 assets and 1.57% net stage 3 assets of AUM as on 30th September 2024.
  • The company continues to carry a management overlay of Rs 17.60 crore as on 31st December, 2024, 0.19% of the total on book assets.
  • The MSME segment contributed ~60% in the YoY AUM growth of the company while other products also contributed meaningfully.
  • Dividend: In consonance to our policy of rewarding the share holders the board has declared an interim dividend of 10% @ Rs 1 per share.

Kamlesh Gandhi - Founder, Chairman & Managing Director, said: "We continue to demonstrate a fundamentally strong performance over a sustained period and more importantly through tough cycles too. Going forward we are confident to maintain fundamentally strong growth momentum backed by more than 25 years of track record, strong capitalization and strategy to prioritize risk management and profitability while focusing on growing consistently.

Team MAS remains committed to its mission of excellence through endeavors."

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Finance company Mas Financial Services announced Q2FY25 results

  • Assets under Management (AUM) of Rs 11,016.65 crore and Profit after Tax (PAT) of Rs 75.57 crore for Q2FY25 from Rs 9,046.19 crore and Rs 60.01 crore respectively for the quarter Q2FY24. The AUM as on Q1FY25 was Rs 10,383.59 crore. The standalone disbursement was Rs 3,022.13 crore during the quarter Q2FY25.
  • A Growth of 21.78% in AUM and 27.50% inPAT overthe corresponding period of the previous year.
  • Capital Adequacy Ratio (including Tier ll capital) as of Q2FY25 stood at 26.52%.The Tier-l capital stood at 23.76%.
  • The portfolio quality remained stable and strong at 2.36% gross stage 3 assets and 1.57% net stage 3 assets of AUM as compared to 2.29% gross stage 3 assets and L.52% net stage 3 assets of AUM as on Q1FY25.
  • The company continues to carry a management overlay of Rs 17.50 crore as on Q2FY25, 0.20% of the on book assets.

Kamlesh Gandhi - Founder, Chairman & Managing Director, Mas Financial said: "We remain focused and committed to our basics of extending credit where it is due while demonstrating over all robust performance. We are confident to maintain a fundamentally strong and consistent growth. Adequate capitalization, strong asset quality and a track record of more than 25 years to navigate across various cycles will ensure the same thus creating value on a large scale for all its stakeholders.

Team Mas remains committed to its mission of excellence through endeavors."

Result PDF

Mas Financial Services announced Q1FY25 results:

  • MAS Financial Services reports Assets under Management (AUM) of Rs 10,383.59 crore and Profit after Tax (PAT) of Rs 70.43 crore for the quarter ended 30th June 2024 from Rs 8,417.85 crore and Rs 57.25 crore respectively for the quarter ended 30th June 2023. The AUM as on 31s March 2024 was Rs 10,125.61 crore.
  • A Growth of 23.35% in AUM and 23.02% in PAT over the corresponding period of the previous year.
  • Capital Adequacy Ratio (including Tier I| capital) as of 30th June 2024 stood at 28.59%. The Tier-I capital stood at 25.39%.
  • The portfolio quality remained stable and strong at 2.29% gross stage 3 assets and 1.52% net stage 3 assets of AUM as compared to 2.25% gross stage 3 assets and 1.51% net stage 3 assets of AUM as on 31st March 2024.
  • The company continues to carry a management overlay of Rs 17.60 crore as on 30th June 2024, 0.22% of the on book assets.

Commenting on the performance, Kamlesh Gandhi - Founder, Chairman & Managing Director, said: "As we usher in to the next phase, post reaching an important milestone of Rs 10,000 crore in AUM, we are confident to maintain a fundamentally strong growth momentum. Adequate capitalization, strong asset quality and a track record of more than 25 years to navigate across various cycles will ensure the same thus creating value on a large scale for all its stakeholders."

Result PDF

Finance company Mas Financial Services announced FY24 & Q4FY24 results:

Financial Highlights:

Consolidated Results:

  • Consolidated Assets under Management (AUM): Rs 10,721.90 crore (26.05% growth YoY).
  • Consolidated Profit after Tax (PAT): Rs 70.10 crore for Q4 FY24; FY 2023-24 PAT stands at Rs 254.01 crore (23.37% growth YoY).

Standalone Results:

  • Standalone Assets under Management (AUM): Rs 10,125.61 crore (25.12% growth YoY).
  • Standalone Profit after Tax (PAT): Rs 68.05 crore for Q4 FY24 (22.50% growth YoY).

Financial Ratios

  • Capital Adequacy Ratio (including Tier II capital): 24.05% as of March 31, 2024.
  • Tier-I capital: 20.33%.

Portfolio Quality

  • Gross Stage 3 assets (Q4 FY24): 2.25% of AUM.
  • Net Stage 3 assets (Q4 FY24): 1.51% of AUM.

Management Overlay

Management overlay as of March 31, 2024: Rs 18.79 crore (0.24% of on-book assets).

Category-wise AUM Breakdown

  • Micro-Enterprise Loans: Rs 4,385.11 crore (13.19% growth YoY).
  • SME Loans: Rs 3,733.86 crore (25.02% growth YoY).
  • Two-Wheeler Loans: Rs 670.12 crore (20.88% growth YoY).
  • Commercial Vehicle Loans: Rs 747.66 crore (100.72% growth YoY).
  • Salaried Personal Loans: Rs 588.86 crore (93.13% growth YoY).

Kamlesh Gandhi Founder, Chairman & Managing Director said, "As we usher into the next phase, post reaching an important milestone of 10,000 crore in AUM, we are confident to maintain a fundamentally strong growth momentum. Adequate capitalization, strong asset quality, and a track record of more than 25 years to navigate across various cycles will ensure the same, thus creating value on a large scale for all its stakeholders. Team MAS remains committed to its mission of excellence through endeavors."


     

Result PDF

Non-banking Financial company Mas Financial Services announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Disbursement was Rs 2,334.50 crore during Q1FY24.
    • Assets under Management (AUM) of Rs 8,867.94 crore in Q1FY24 compared to Rs 7,025.14 crore in Q1FY23, up 26.23% YoY.
    • Profit after tax (PAT) of Rs 57.56 crore for Q1FY24 from Rs 45.91 crore for Q1FY23, up 25.38% YoY.
  • Standalone Q1FY24:
    • AUM of Rs 8,417.85 crore for Q1FY24 from Rs 6,683.92 crore in Q1FY23, up 25.94% YoY.
    • PAT of Rs 57.25 crore for Q1FY24 from Rs 46.11 crore Q1FY23, up 24.16% YoY.
    • Capital Adequacy Ratio (including Tier II capital) as of June 30, 2023 stood at 25.31%. The Tier-I capital stood at 21.11%.
    • The portfolio quality remained stable and strong at 2.13% gross stage 3 assets and 1.47% net stage 3 assets of AUM as compared to 2.15% gross stage 3 assets and 1.52% net stage 3 assets of AUM as on March 31, 2023.
    • The company continues to carry a management overlay of Rs 21.46 crore as on June 30, 2023, 0.32% of the total on-book assets.

Commenting on the performance, Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, "The continuous and consistent performance of the company demonstrated during this quarter is the function of the strong fundamentals and a very prudent approach of "Extending credit where it is due". We visualize a very strong and consistent growth going forward continuing our legacy of more than two decades.

Team MAS remains committed to its mission of excellence through endeavors."

 

 

Result PDF

Non-banking financial company Mas Financial Services announced Q4FY23 & FY23 results:

  • The disbursement was Rs 2,491.72 crore during Q4FY23 as compared to Rs 1,962.33 crore during Q4FY22
  • Mas Financial Services reports assets under management (AUM) of Rs 8,092.56 crore. The AUM as on December 31, 2022, was Rs 7,606.04 crore.
  • Profit after tax (PAT) of Rs 200.96 crore for FY23 vs Rs 157.55 crore for FY22.
  • A growth of 29.55% in AUM and 27.55% in PAT over FY22
  • For Q4FY23, the PAT was Rs 55.55 crore - a growth of 23.44% over Q4FY22
  • Capital adequacy ratio (including Tier ll capital) as of March 31, 2023, stood at 25.25%. The Tier-I capital stood at 20.79%
  • In consonance with our policy of rewarding the shareholders, the board has recommended a final dividend of 18.50% at Rs 1.85 per share

Commenting on the performance, Kamlesh Gandhi - Founder, Chairman & Managing Director, Mas Financial Services, said, "We have over two & half decades demonstrated that "CONSISTENTLY AND STEADILY IS THE FASTEST WAY TO REACH WHERE YOU WANT TO". Crossing Rs 200 crore in PAT is an important milestone in the journey of the company. The main focus continues to remain on maintaining a strong capital base, adequate liquidity, and quality of assets thus creating very strong enablers for the future growth of the company. Registering a robust growth of 25% this year reconfirms our conviction to demonstrate long-term consistent growth between 20%-25% across various cycles as demonstrated over more than two decades."

 

 

Result PDF

Mas Financial Services announced Q3FY23 results:

  • Q3FY23:
    • Mas Financial Services Limited reports Assets under Management (AUM) of Rs 7,606.04 crore and profit after tax of Rs 51.25 crore for the quarter ended December 31, 2022, from Rs 5,742.08 crore and Rs 40.10 crore respectively for the quarter ended  December 31, 2021. The AUM as on September 30, 2022, was Rs 7,138.11 crore.
    • A Growth of 32.6% in AUM and 27.80% in PAT over the corresponding period of the previous year.
    • Capital Adequacy Ratio (including Tier I capital) as of December 31, 2022, stood at 24.47%. The Tier-I capital stood at 21.21%.
    • Mas Rural Housing and Mortgage Finance Limited report Assets under Management (AUM) of Rs 400.84 Crore and profit after tax of Rs 1.59 Crore for the quarter ended December 31, 2022, from Rs 306.92 Crore and Rs 1.04 Crore respectively for the quarter ended December 31, 2021.
    • Dividend: In consonance to our policy of rewarding the shareholders the board has declared an interim dividend of 18.00 % @ Rs 1.80 per share.

Commenting on the performance, Mr. Kamlesh Gandhi - Founder, Chairman & Managing Director, Mas Financial said, "We have over two & half decades demonstrated that "CONSISTENTLY AND STEADILY lS THE FASTEST WAY TO REACH WHERE YOU WANT TO". ln consonance with our mission and vision to constantly endeavour to create value for stakeholders on a very large scale through efficient last-mile delivery of credit, the main focus of the company continues to remain on maintaining a strong capital base, adequate liquidity and quality of assets."

The working of this quarter very aptly demonstrated our conviction to grow at a consistent CAGR of 20-25% based on the strong enablers' namely high capital adequacy, excellent asset quality accompanied by strong liability management and the niche expertise to serve the huge MSME market.

 

 

Result PDF

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