MAS Financial Services Limited

MAS Financial Services Limited was registered as an NBFC with the Reserve Bank of India in 1995. In support of the nation’s drive to promote financial inclusion, the company strive to financially empower individuals and enterprises that stand at the threshold of the formal financial system, with access to suitable credit.

Profile of MAS Financial Services Ltd

MAS Financial Services Limited is an Ahmedabad-based diversified Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). Incorporated in 1995, the Company is engaged in providing specialised retail financing services to the lower income and middle-income groups of the society.

  • Sales: ₹ 814 Cr.
  • Operating profit: ₹ 640 Cr.
  • Net profit: ₹ 182 Cr.
  • Sales last year: ₹ 690 Cr.
  • EBIDT last year: ₹ 559 Cr.
  • Sales growth 3Years: 4.52 %
MAS Financial Services Limited
MAS Financial Services Limited

MAS Financial Services Limited Since over two decades, the Company primarily caters to the financially underserved masses spread across urban, semi-urban, and rural areas in the formal and informal sectors.

Mas financial services ltd offers a wide range of retail finance products such as

  • Micro enterprise loans,
  • SME loans,
  • Home loans,
  • Twowheeler loans,
  • Used car loans and commercial vehicle loans to satisfy the varied needs of customers.

A highly experienced management team, huge borrower base, diverse product mix, efficient liability management, and a well-spread branch network underpin the operations of the Company. MAS Financial Services Ltd has a presence in urban, semi-urban and rural areas through 99 branches in 7 territories: Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, Karnataka, and Delhi NCR.

  • Total Assets: ₹ 7,728 Cr.
  • Reserves: ₹ 1,320 Cr.
  • Debt: ₹ 5,681 Cr.
  • Current assets: ₹ 1,049 Cr.
  • Current liabilities: ₹ 590 Cr.
  • Debt to equity: 4.13
  • Dividend yield: 0.35 %
  • Face value: ₹ 10.0
  • ROE 5Yr: 15.7 %
  • ROCE: 10.6 %
  • ROCE 3Yr: 12.1 %
  • Return on equity: 12.8 %

Mas financial services ltd cater to the needs of retail customers, especially those in the low-income and middle-income segments, and offers enterprise loans to MSMEs. The company offerings span retail financing products for MSMEs, home loans, two-wheeler loans, used car loans and commercial vehicle loans.

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  1. Corporate Identity Number (CIN) of the Company : L65910GJ1995PLC026064
  2. Name of the Company : MAS Financial Services Limited
  3. Registered address : 6, Narayan Chambers, Ground Floor, B/h Patang Hotel, Ashram Road Ahmedabad – 380009
  4. Website :
  5. E-mail id :

By the end of March 2021, the company has serviced 7,00,000+ active customers, in formal and informal sectors, often taking financial services to the customers’ doorstep.

Financials of MAS Financial Services Ltd
Financials of MAS Financial Services Ltd

Mas financial services ltd is present in 7 territories across the country, with 3,470+ service points, and the promise of doorstep delivery of services. Team MAS also reaches out to customers across hinterlands, through 127 partner companies and 604 service agents.

To meet the needs of target borrowers, who often lack credit history and adequate paperwork to prove their eligibility, the company has crafted alternative systems that enable to assess Product Offerings.

Loan offered by MAS Financial Services

Micro Enterprise Loan (MEL): MAS Financial Services Limited offer loans to small and micro enterprises, enabling them to pursue their growth aspirations.

Small & Medium Enterprises (SME) Loan: Towards fuelling the growth and development of small and medium enterprises, we offer a complete bouquet of credit including machinery loans, industrial shed loans, working capital loans and loans against property.

Two-Wheeler Loan: Twowheeler loans fulfil the dreams of self-employed and salaried customers for purchasing a vehicle.

Commercial Vehicle (CV) Loan: MAS Financial Services Limited support entrepreneurs to expand and fuel up their distribution business with commercial vehicle loans for new and used vehicles.

Home Loan: Through the company subsidiary – MAS Rural Housing and Mortgage Finance Ltd offer affordable housing loans for middle and low-income individuals for the purchase of new and old houses, home improvement and loans for purchase and construction of commercial property.

Mas financial services ltd also extend loans to developers for construction of affordable housing projects. their loan repayment ability without compromising Return on Capital Employed (RoCE). We also leverage our human resources to analyse the creditworthiness of our borrowers through in-depth and regular engagements with them.

The company key strategic moves is to be present everywhere and become a leading lender. To achieve and retain this advantage, the company leverage the distribution network of partners, which include non-banking finance companies (NBFCs), microfinance institution NBFCs, housing finance companies and franchisees – to reach out to those who are financially unserved and under-served.

MAS Rural Housing & Mortgage Finance Ltd

MRHMFL (MAS Rural Housing & Mortgage Finance Ltd. – subsidiary of MFSL) aims at serving the middle income and the lower income sector of the economy, especially in the semi urban and rural areas, which are reckoned to be the key drivers of the sector in the coming decades.

Full-fledged efforts are on to execute efficiently, as per the detail planning. Being
aware of the challenges involved in serving this class of the society, a very cautious approach is adopted in building up volumes. Nevertheless, Company is quite confident of building substantial volumes in the near future. The Company’s rural initiative will also start yielding results shortly.

MAS Financial Services Limited has 69 branches Pan India as on March 31, 2021. It is worth mentioning that despite of credit worthy customer class, ascertaining the title of the property remains a challenging job. The Company is actively involved with all the stakeholders to smoothen the process and is assertive in getting the right set of documents.

MAS Financial Services history

Year wise activities of MAS Financial Services Limited

• Year of incorporation; Commenced retail finance operations with Two-wheeler and Micro-Enterprise loans

• Received first round of capital infusion of ₹ 65 Mn. from Bellwether Micro Fund

• Acquired second and third round of capital infusion from FMO and ICICI Venture, respectively
• Floated housing finance subsidiary

•MAS Financial Services Limited was Listed NCDs on Bombay Stock Exchange

• Received the fourth round o capital infusion of ₹ 650 Mn. from DEG.

• Disbursement & AUM crossed ₹10 Bn.

• Sarva Capital purchased 50% CCPS held by FMO in secondary deal

• Bank loan rating upgraded to ‘IND A’ with ‘Stable outlook’
• MAS Financial Services Limited was Raised subordinate debentures

Raveendran R

Raveendran R

Editor @

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