MAS Financial Services quarterly results and financials

MAS Financial Services (MASFIN)₹263.93−2.05%(9 Nov 2026 close)Non Banking Financial Company (NBFC)

Key facts

In the Sep 2026 quarter (consolidated), MAS Financial Services reported revenue of ₹591 Cr, up 22.7% from Sep 2025, and net profit of ₹115 Cr, up 26.5% year on year. For the year to Mar 2026, revenue were ₹2,004 Cr and net profit ₹376 Cr.

Revenue (Sep 2026): ₹591 Cr
Net profit (Sep 2026): ₹115 Cr
Revenue (FY Mar 2026): ₹2,004 Cr
Net profit (FY Mar 2026): ₹376 Cr
EPS (Sep 2026): ₹6.26
Borrowings (Mar 2026): ₹10,324 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

MAS Financial Services quarterly results

₹ crore unless stated; each column is a quarter.

MAS Financial Services Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	336	348	365	385	412	441	467	482	509	544	564	591
Interest	172	171	181	185	195	202	217	225	230	234	236	252
Net interest income	164	178	185	201	217	239	251	257	278	309	329	339
Expenses	76.08	83.07	86.02	95.04	106	124	132	134	143	170	176	183
Financing Profit	85.68	92.65	96.69	104	109	114	117	122	133	138	150	153
Financing Margin %	26.1%	27.1%	27.1%	27.1%	27.1%	26.1%	25.0%	25.1%	26.0%	25.1%	27.1%	26.1%
Other Income	1.99	0.99	0.99	0.99	0.99	0.00	0.99	2.99	−3.99	2.99	−0.99	1.99
Depreciation	0.99	0.99	0.99	0.99	0.99	1.99	1.99	1.99	1.99	1.99	1.99	1.99
Profit before tax	86.95	94.02	97.02	104	108	112	116	123	127	139	148	154
Tax %	26.0%	25.0%	25.0%	25.0%	26.0%	26.0%	25.0%	26.0%	27.0%	25.0%	25.0%	25.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−2.99	0.00	0.00	0.00
Net Profit	63.90	69.92	72.90	77.92	79.98	82.94	86.96	90.87	92.89	104	110	115
EPS (Rs)	3.89	4.24	3.96	4.25	4.40	4.56	4.73	5.00	5.10	5.70	6.00	6.26
Gross NPA %	2.2%	2.3%	2.3%	—	2.4%	2.4%	2.5%	2.5%	2.6%	2.6%	2.6%	—
Net NPA %	1.5%	1.5%	1.5%	—	1.6%	1.6%	1.6%	1.7%	1.7%	1.7%	1.7%	—
Provision coverage (approx., excl. write-offs) %	33.6%	32.9%	33.6%	—	32.8%	33.6%	34.5%	33.2%	32.8%	33.9%	34.1%	—

MAS Financial Services profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

MAS Financial Services Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue	310	366	478	607	712	629	692	993	1,293	1,605	2,004	2,207
Interest	142	165	187	225	298	285	340	497	649	768	911	952
Net interest income	168	202	292	383	413	344	352	496	645	837	1,093	1,255
Expenses	82.05	92.09	118	138	175	143	132	218	297	403	572	672
Financing Profit	84.74	107	170	241	235	197	217	272	341	424	512	573
Financing Margin %	27.1%	29.1%	36.1%	40.0%	33.0%	32.0%	32.1%	28.1%	27.1%	27.1%	26.1%	26.0%
Other Income	0.00	0.00	−1.99	−1.99	−2.99	0.00	0.99	0.99	1.99	0.99	−0.99	0.00
Depreciation	0.99	0.99	1.99	1.99	2.99	2.99	2.01	2.99	3.99	5.99	6.99	7.96
Profit before tax	84.05	106	168	238	230	196	217	272	340	421	505	568
Tax %	35.0%	35.0%	37.0%	35.0%	27.0%	26.0%	26.0%	24.0%	25.0%	25.0%	26.0%	—
Exceptional items	0.00	0.00	−0.99	−0.99	−2.99	0.00	0.00	0.00	0.00	0.00	−3.99	−2.99
Net Profit	54.92	68.92	105	155	168	146	161	206	254	314	376	422
EPS (Rs)	4.53	5.33	6.43	9.39	10.25	8.83	9.74	12.43	15.36	17.18	20.53	23.06
Dividend payout %	20.1%	20.0%	19.1%	18.0%	26.1%	6.0%	10.1%	10.0%	23.0%	10.1%	10.1%	—

MAS Financial Services balance sheet

₹ crore, at each year end.

MAS Financial Services Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16.01	16.02	42.96	55.02	55.07	55.07	55.09	55.08	55.10	164	181	181
Reserves	88.36	122	242	728	864	936	1,130	1,301	1,470	1,626	2,436	2,804
Borrowings	1,124	1,404	1,310	1,455	2,276	2,799	3,517	4,444	6,138	7,430	9,191	10,324
Other Liabilities	345	407	608	668	805	1,042	741	521	358	341	411	457
Total Liabilities	1,574	1,950	2,203	2,904	4,000	4,832	5,443	6,322	8,020	9,559	12,219	13,767
Fixed Assets	4.01	8.03	9.03	58.24	13.04	15.05	12.04	14.05	17.06	25.10	27.11	74.22
CWIP	0.00	0.00	0.00	0.00	46.07	48.05	50.10	52.05	58.08	70.03	92.13	127
Investments	0.00	0.00	0.00	0.00	0.00	5.01	202	493	791	726	1,527	972
Other Assets	1,569	1,941	2,194	2,846	3,942	4,764	5,179	5,763	7,153	8,738	10,574	12,592
Trade receivables	0.00	0.00	0.00	0.00	0.00	0.00	2.01	1.01	4.01	7.01	5.01	6.01
Cash & equivalents	217	181	46.85	59.80	409	1,044	1,016	868	802	875	1,138	1,001
Total Assets	1,574	1,950	2,203	2,904	4,000	4,832	5,443	6,322	8,020	9,559	12,219	13,767

MAS Financial Services cash flow

₹ crore, for each year.

MAS Financial Services Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	−267	−281	−164	−386	−467	196	−578	−805	−1,486	−1,366	−1,122	−1,787
Cash from investing activity	−2.01	−3.01	−4.01	−49.09	14.01	4.01	−199	−822	−242	50.05	−830	467
Cash from financing activity	302	250	33.84	437	799	446	716	919	1,679	1,285	2,178	1,091
Net cash flow	34.10	−32.08	−134	3.01	349	650	−59.17	−704	−46.13	−26.06	237	−226
Capex	0.99	4.99	3.99	48.89	1.99	4.99	1.99	4.99	10.98	21.96	29.96	91.75
Free cash flow	−268	−285	−168	−435	−470	192	−580	−810	−1,499	−1,388	−1,154	−1,879

MAS Financial Services ratios

Working-capital days and returns, by year.

MAS Financial Services Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	44.0%	44.9%	32.0%	20.0%	17.9%	17.9%	12.9%	13.0%	13.9%	15.0%	14.0%	13.0%

MAS Financial Services: frequently asked questions

What are the latest quarterly results of MAS Financial Services?

For the Sep 2026 quarter, MAS Financial Services reported revenue of ₹591 Cr, up 22.7% year on year and net profit of ₹115 Cr, up 26.5% year on year.

What is the annual revenue of MAS Financial Services?

MAS Financial Services' revenue for the year to Mar 2026 were ₹2,004 Cr; over the last twelve months they were ₹2,207 Cr.

What is the net profit of MAS Financial Services?

Net profit for the year to Mar 2026 was ₹376 Cr, and ₹422 Cr over the last twelve months. Earnings per share over the same trailing period were ₹23.06.

What is the free cash flow of MAS Financial Services?

Cash from operations was −₹1,787 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹1,879 Cr.

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