Check Before You Invest : MAS Financial Services Ltd

BSE: 540749 NSE: MASFIN ISIN: INE348L01012

| Sector: BFSI | Industry: Finance - NBFC

Snapshot

Q.1 Which industry/sub-sector does MAS Financial Services Ltd belong to?

MAS Financial Services Ltd belongs to the BFSI sector, operating specifically within the Finance - NBFC segment.

Q.2 Is MAS Financial Services Ltd a good quality company?

MAS Financial Services Ltd is a good quality company, based on a consistently good 9-year financial track record.

Q.3 Is MAS Financial Services Ltd undervalued or overvalued?

MAS Financial Services Ltd appears Undervalued, as its key valuation ratios are below with their past averages.

Q.4 Is MAS Financial Services Ltd a good buy now?

MAS Financial Services Ltd is a good buy now, based on strong price trend analysis suggesting prices may rise. However, you need to check its quality and valuation before making a decision

Performance Analysis

Q.1 Total Income growth of MAS Financial Services Ltd?

MAS Financial Services Ltd Operating Income growth is 24.31% for FY-2025, which is above its 5-year CAGR of 17.6%, indicating faster growth.

Q.2 Return on Assets of MAS Financial Services Ltd?

MAS Financial Services Ltd Return on Asset is 2.9%, which is above its 5-year historical median of 2.8%, indicating improved earnings on assets.

	Current Level	5-year Historic Median
NPM%	19.67	21.03
PPOP%	27.05	27.05
RoA%	2.9	2.8

Q.3 Return on Equity (ROE) of MAS Financial Services Ltd?

MAS Financial Services Ltd Return on Equity is 14.3% for FY-2025, which is in line with its 5-year historical median of 14.3%, indicating the business is making similar use of its shareholders capital.

Q.4 Pre-provisioning operating profit margin of MAS Financial Services Ltd?

MAS Financial Services Ltd Pre-provisioning operating profit margin, which is the bank’s core operating profit before provisioning for bad loans, is 27.05% for FY-2025, which is in line with its 5-year median(27.05%), indicating stable margins.

Q.5 Net Profit Margin of MAS Financial Services Ltd?

MAS Financial Services Ltd Net Profit Margin, which is the difference between the rate of interest earned on assets and the rate of interest paid on liabilities, is 19.67% for FY-2025, which is below its 5-year median( 21.03%), indicating decreasing margins.

Q.6 Total Asset growth of MAS Financial Services Ltd?

MAS Financial Services Ltd Total Asset growth is 27.8% for FY-2025, which is above its 5-year CAGR of 19.33%, indicating faster growth.

Q.7 Capital Adequacy ratio of MAS Financial Services Ltd?

MAS Financial Services Ltd Capital Adequacy ratio (CAR) is 24.72% for FY-2025, which is above the regulatory requirement of 15%, indicating strong capital position.

Ownership & governance

Q.1 Promoter shareholding and pledge status of MAS Financial Services Ltd?

Promoters hold 66.65% of the MAS Financial Services Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

Q.1 AUM Growth of MAS Financial Services Ltd vs Industry Peers?

MAS Financial Services Ltd AUM CAGR is 19.33%, compared to the 5-year industry median CAGR of 9.9%, indicating faster growth and gaining its market share.

Q.2 Profit metrics (NPM, PPOP, RoA) of MAS Financial Services Ltd vs industry peers

MAS Financial Services Ltd profit metrics are above the industry median level of 7.19%, indicating stronger profitability compared to peers.

Profit Metrics

	Current Level	5-year Industry Median
NPM%	19.67	15.95
PPOP%	27.05	4.17
RoA%	2.9	1.45

Q.3 Operating efficiency of MAS Financial Services Ltd vs industry peers?

MAS Financial Services Ltd ROCE (11.5) is above the industry median of (4.4); while the current ROE (14.3) are above than the 5-year average Industry ROE (2.7). This shows that the business is positioned in the top quartile of the industry.

Operating Efficiency

	Current Level	5-year Industry Median
NPM%	19.67	15.95
PPOP%	27.05	4.17
RoA%	2.9	1.45
ROCE%	11.5	4.4
ROE%	14.3	2.7

Valuation & price assessment

Q.1 Stock return of MAS Financial Services Ltd over the last decade?

Over the last 5 years, the stock has delivered a CAGR of 4.65% based on the current price.

Q.2 What return has the stock given over the last decade?

	9Y	5Y	3Y	1Y
Share Price CAGR	-	4.7%	12.7%	28.9%

Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	16.86	20.40	28.96
Price to Book	2.1	2.25	1.11
Price to Sales	3.14	4.07	9.10
EV to EBITDA	9.39	10.40	11.77

Q.4 Valuation ratios of MAS Financial Services Ltdvs historical and industry averages?

The current Price to book ratio (P/B) 2.1% is lower than its historical median of 2.25%, indicating that at the current price the stock is undervalued. However, you need a deeper analysis to make a better judgement.

Strategic outlook

Q.1 Does its ROIC exceed its WACC?

MAS Financial Services Ltd return on invested capital (ROIC) is 8.2% for FY-2025, is lower than its estimated weighted average cost of capital (WACC) of 14%, indicating value erosion.

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