Neel AcharyAhmedabad, 8th November 2025: The Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), a leading NBFC specializing in MSME financing, announced the unaudited financial results for the quarter ended 30th September 2025.
122 quarters of consistent financial performance stand as a testament to the company’s strong fundamentals and disciplined growth approach sustained over the past three decades.
Performance Highlights (Consolidated)
MAS Financial Services Limited reported Assets under Management (AUM) of INR 13,821.14 crore and Profit after Tax (PAT) of INR 91.43 crore for Q2 FY2025-26, compared to INR 11,681.18 crore and INR 77.62 crore respectively in Q2 FY2024-25.
The consolidated disbursement stood at INR 3,259.15 crore during the quarter ended 30th September 2025, reflecting the company’s continued commitment to extending credit where it is due.
This represents a year-on-year growth of 18.32% in AUM and 17.79% in PAT.
Performance Highlights (Standalone)
On a standalone basis, MAS Financial Services Limited reported an AUM of INR 12,999.44 crore and PAT of INR 89.70 crore for Q2 FY2025-26, as compared to INR 11,016.65 crore and INR 76.57 crore respectively in the same quarter of the previous year.
The standalone disbursement for the quarter stood at INR 3,197.31 crore.
This marks a growth of 18.00% in AUM and 17.15% in PAT year-on-year.
The Capital Adequacy Ratio (CAR) (including Tier II capital) remained robust at 24.57%, with Tier I capital at 22.71%.
Portfolio quality continued to remain strong and stable with gross stage 3 assets at 2.53% and net stage 3 assets at 1.69% of AUM, compared to 2.49% and 1.63% respectively as of 30th June 2025.
The company maintained a management overlay of INR 17.60 crore, representing 0.17% of on-book assets.
As of 30th September 2025, 34.45% of the total underlying assets were sourced through various NBFC partners.
New Product Segment
The MSME segment contributed approximately 60% of the year-on-year AUM growth, while other product categories also delivered meaningful contributions to overall performance.
MAS Rural Housing and Mortgage Finance Limited (Standalone)
MAS Rural Housing and Mortgage Finance Limited reported an AUM of INR 821.70 crore and PAT of INR 2.99 crore for Q2 FY2025-26, compared to INR 664.53 crore and INR 2.37 crore respectively for Q2 FY2024-25.
This reflects a growth of 23.65% in AUM and 25.90% in PAT year-on-year.
The Capital Adequacy Ratio (including Tier II capital) stood at 32.04%, with Tier I capital at 28.22%.
Portfolio quality remained resilient with gross stage 3 assets at 0.94% and net stage 3 assets at 0.66%, compared to 0.92% and 0.64% respectively as of 30th June 2025.
The company carried a management overlay of INR 3.31 crore, representing 0.55% of on-book assets.
Subsidiary Update
MAS Financial is pleased to announce that MASFin Insurance Broking Private Limited, a wholly-owned subsidiary, has received the Certificate of Registration from IRDAI to operate as a Direct Insurance Broker (Life & General).
Management Commentary
Commenting on the company’s performance, Mr. Kamlesh Gandhi, Founder, Chairman & Managing Director of MAS Financial, said:
“The performance of the company over the past three decades reflects our consistent and resilient growth, showcasing our ability to navigate through challenging cycles successfully. Going forward, we are confident of maintaining strong growth momentum, supported by robust enablers and disciplined execution.
Team MAS remains steadfast in its mission of ‘Excellence through Endeavors’, which we now embrace as ‘Purpose-Led, Progress-Driven’.”
