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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 Board Meeting Intimation. Filed on 21-Oct-2026 19:55:27.
Announcements
21 Oct, 2026 07:55 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Credit Rating. Filed on 14-Oct-2026 17:54:05.
Announcements
14 Oct, 2026 05:54 PM
MAS FINANCIAL SERVICES LIMITED has submitted its Shareholding Pattern for the Quarter Ended 30-Sep-2026. Promoter & Promoter Group holding: 66.66%, Public holding: 33.34%. Filed on 12-Oct-2026 14:54:22.
Announcements
12 Oct, 2026 02:54 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 03:31 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
Market News New
>
Announcements
•
21 Oct, 2026 07:55 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Board Meeting Intimation. Filed on 21-Oct-2026 19:55:27.
Announcements
•
14 Oct, 2026 05:54 PM
MAS FINANCIAL SERVICES LIMITED has informed the Exchange regarding Credit Rating. Filed on 14-Oct-2026 17:54:05.
Announcements
•
12 Oct, 2026 02:54 PM
MAS FINANCIAL SERVICES LIMITED has submitted its Shareholding Pattern for the Quarter Ended 30-Sep-2026. Promoter & Promoter Group holding: 66.66%, Public holding: 33.34%. Filed on 12-Oct-2026 14:54:22.
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.
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.

Disclaimer : Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities/securitised debt instruments are subject to credit risks, market risks and default risks including delay and/or default in payment. Read all the offer related documents carefully. The inventories offered on the platform offer interest ranging from 5% to 12.2% fixed returns p.a.

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