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MAS Financial Services Limited
MAS Financial Services Limited (MFSL) is a RBI-registered non-deposit-taking NBFC headquartered in Ahmedabad, Gujarat. MFSL is a publicly listed company on NSE and BSE, with a market capitalization of approximately ₹ 5,303 crores as of June 01, 2025.
Sector Focus
Secured MSME (NBFC)
Highest Credit Rating
AA- Stable by CARE
Listing (Debt)
BSE
Date of NBFC License by RBI
1995
Business & Products
Lending- Micro & SME Loan, 2 wheeler & CV Loan, Housing Finance Loan, Salaried Person Loan
Promoter
Mr. Mukesh Gandhi
Mr. Kamlesh Gandhi
Key Management Personnel
Mr. Kamlesh Gandhi
Chairman & MD
Ms. Darshana Pandya
Director & CEO
Mr. Dhvanil Gandhi
Director
ISB Alumnus
Bonds issued by MAS Financial Services Limited
Financial Performance
| Particulars | H1 FY26 (₹ in cr) | FY25 (₹ in cr) | FY24 (₹ in cr) |
|---|---|---|---|
| NET WORTH | 2786.71 | 2585.80 | 1768.96 |
| REVENUE | 902.38 | 1520.45 | 1229.28 |
| PAT | 173.60 | 305.93 | 247.75 |
| CRAR% | 24.57 | 24.72 | 24.05 |
| GNPA% | 2.53 | 2.44 | 2.25 |
| NNPA% | 1.69 | 1.62 | 1.15 |
| GEARING (times) | 3.39 | 3.37 | 4.00 |
Credit Rating
| Credit Rating Agency | Rating | Rating Outlook | Date |
|---|---|---|---|
| CARE Ratings | AA- | Stable | as on 28th July, 2025 |
Top Lenders to MAS Financial Services Limited
SBI
SIDBI
Bank of Baroda
Union Bank of India
Canara Bank
IndusInd Bank
Indian Bank
HDFC Bank
Punjab National Bank
Strength
Long-standing track record of promoters and experienced senior management team with established credit appraisal systems
Comfortable capitalisation with diversified resource base
Diversified loan portfolio
Comfortable asset quality parameters
Stable financial risk profile
Weakness
Moderately concentrated customer profile and geographical diversification
Exposure to relatively riskier segments
Important Links
Source:
Investors Presentation, Information Memorandum & Rating Rationale of MAS Financial Services Limited
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India Bond Private Limited
CIN: U67100MH2008PTC178990
SEBI Registration No.: INZ000311637
NSE Member ID - Debt Segment: 90316
BSE Member ID - Debt Segment: 6811
CIN: U67100MH2008PTC178990
SEBI Registration No.: INZ000311637
NSE Member ID - Debt Segment: 90316
BSE Member ID - Debt Segment: 6811
Registered Address: 605, 6th Floor, Windsor, Off CST Road, Kalina, Santacruz - (East), Mumbai – 400 098.
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