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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 ₹ 5,748 crores as of July 29, 2026.
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
Executive Director & CEO
Mr. Dhvanil Gandhi
Executive Director
ISB Alumnus
Bonds issued by MAS Financial Services Limited
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Financial Performance
ParticularsFY26 (₹ in cr)FY25 (₹ in cr)FY24 (₹ in cr)
NET WORTH2952.632585.801768.96
REVENUE1900.331520.451229.28
PAT363.65305.93247.75
CRAR%22.8424.7224.05
GNPA%2.572.442.25
NNPA%1.701.621.15
GEARING (times)3.313.374.00
Credit Rating
Credit Rating AgencyRatingRating OutlookDate
CARE RatingsAA-Stableas on 26th June, 2026
Top Lenders to MAS Financial Services Limited
SBI
SIDBI
Bank of Baroda
Union Bank of India
Canara Bank
IndusInd Bank
Indian 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
Moderate asset quality parameters; supported by a demonstrated track record
Stable earnings profile
Weakness
Moderately concentrated customer profile and geographical diversification
Exposure to relatively riskier segments
Market News
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Headline
Published On
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Trading Window-XBRL. Filed on 28-Sep-2026 15:31:56.
Announcements
28 Sep, 2026 03:31 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Trading Window. Filed on 28-Sep-2026 15:30:34.
Announcements
28 Sep, 2026 03:30 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Alteration Of Capital and Fund Raising-XBRL. Filed on 24-Sep-2026 11:07:03.
Announcements
24 Sep, 2026 11:07 AM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Allotment of Securities. Filed on 24-Sep-2026 11:04:19.
Announcements
24 Sep, 2026 11:04 AM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding General Updates. Filed on 18-Sep-2026 17:03:26.
Announcements
18 Sep, 2026 05:03 PM
Market News New
>
Announcements
•
28 Sep, 2026 03:31 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Trading Window-XBRL. Filed on 28-Sep-2026 15:31:56.
Announcements
•
28 Sep, 2026 03:30 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Trading Window. Filed on 28-Sep-2026 15:30:34.
Announcements
•
24 Sep, 2026 11:07 AM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Alteration Of Capital and Fund Raising-XBRL. Filed on 24-Sep-2026 11:07:03.
Announcements
•
24 Sep, 2026 11:04 AM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Allotment of Securities. Filed on 24-Sep-2026 11:04:19.
Announcements
•
18 Sep, 2026 05:03 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding General Updates. Filed on 18-Sep-2026 17:03:26.
Source:
Investors Presentation, Information Memorandum & Rating Rationale of MAS Financial Services Limited
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© 2026 India Bond Pvt Ltd.
India Bond Private Limited
CIN: U67100MH2008PTC178990 |
SEBI Registration No.(Stock Broker): INZ000311637 |
NSE Member ID - Debt Segment: 90316 |
BSE Member ID - Debt Segment: 6811 |
SEBI Registration No.(DP):
IN-DP-855-2026 |
NSDL DP ID: IN305103
Registered Address: 605, 6th Floor, Windsor, Off CST Road, Kalina, Santacruz - (East), Mumbai – 400 098.

*Numbers as on specific date.

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