MAS Financial Services Limited — quarter ended 31 March 2026 and year ended 31 March 2026
The following tables are extracted from the provided quarterly results document (figures in ₹ crores unless otherwise stated).
| Sr. No. | Particulars | Quarter Ended 31.03.2026 (Refer Note 15) | Quarter Ended 31.12.2025 (Unaudited) | Quarter Ended 31.03.2025 (Refer Note 15) | Year Ended 31.03.2026 (Audited) | Year Ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | INCOME | |||||
| (a) Revenue from operations | ||||||
| – Interest income | 424.21 | 389.15 | 353.45 | 1,558.12 | 1,289.64 | |
| – Gain on assignment of financial assets | 70.85 | 59.72 | 39.61 | 226.98 | 143.09 | |
| – Fees and commission income | 19.49 | 31.10 | 24.42 | 107.65 | 82.89 | |
| – Net gain/(loss) on fair value changes | (0.55) | 1.43 | (0.19) | 1.76 | 2.54 | |
| Total revenue from operations | 514.00 | 481.40 | 417.29 | 1,894.51 | 1,518.16 | |
| (b) Other income | 2.37 | 0.18 | (0.38) | 5.82 | 2.29 | |
| Total income | 516.37 | 481.58 | 416.91 | 1,900.33 | 1,520.45 | |
| 2 | EXPENSES | |||||
| (a) Finance costs | 221.85 | 219.08 | 191.00 | 858.67 | 722.38 | |
| (b) Fees and commission expense | 37.12 | 31.86 | 21.69 | 126.00 | 67.50 | |
| (c) Impairment on financial instruments | 57.50 | 39.26 | 42.68 | 176.33 | 126.12 | |
| (d) Employee benefits expenses | 39.44 | 39.35 | 31.38 | 146.41 | 114.84 | |
| (e) Depreciation, amortisation and impairment | 1.77 | 1.57 | 1.34 | 6.37 | 4.91 | |
| (f) Other expenses | 25.56 | 23.18 | 19.95 | 93.48 | 74.27 | |
| Total expenses | 383.24 | 354.30 | 308.04 | 1,407.26 | 1,110.02 | |
| 3 | Profit before exceptional items and tax (1-2) | 133.13 | 127.28 | 108.87 | 493.07 | 410.43 |
| 4 | Exceptional items (Refer note 13) | – | 4.24 | – | 4.24 | – |
| 5 | Profit before tax (3-4) | 133.13 | 123.04 | 108.87 | 488.83 | 410.43 |
| 6 | Tax expense | |||||
| (a) Current tax | 37.08 | 33.18 | 29.96 | 130.91 | 103.85 | |
| (b) Short / (excess) provision for tax relating to prior years | – | 1.49 | – | 1.49 | 1.00 | |
| Net current tax expense | 37.08 | 34.67 | 29.96 | 132.40 | 104.85 | |
| (c) Deferred tax charge/(credit) | (3.67) | (1.96) | (1.91) | (7.22) | (0.35) | |
| Total tax expense | 33.41 | 32.71 | 28.05 | 125.18 | 104.50 | |
| 7 | Profit after tax (5-6) | 99.72 | 90.33 | 80.82 | 363.65 | 305.93 |
| 8 | Other comprehensive income (OCI) | |||||
| (a) (i) Items that will not be reclassified to profit or loss: | ||||||
| – Re-measurement of the defined benefit liabilities | 0.11 | (0.24) | 0.42 | (0.18) | (0.73) | |
| (ii) Income tax relating to the above item | (0.02) | 0.06 | (0.11) | 0.05 | 0.18 | |
| Sub-total (a) | 0.09 | (0.18) | 0.31 | (0.13) | (0.55) | |
| (b) (i) Items that will be reclassified to profit or loss: | ||||||
| – Loans and advances through other comprehensive Income | (4.85) | (28.21) | 3.63 | (6.98) | 19.82 | |
| (ii) Income tax relating to the above item | 1.22 | 7.10 | (0.91) | 1.76 | (4.99) | |
| Sub-total (b) | (3.63) | (21.11) | 2.72 | (5.22) | 14.83 | |
| Other comprehensive income / (loss) (a+b) | (3.54) | (21.29) | 3.03 | (5.35) | 14.28 | |
| 9 | Total comprehensive income for the period / year (7+8) | 96.18 | 69.04 | 83.85 | 358.30 | 320.21 |
| 10 | Paid-up equity share capital (Face value ₹ 10/- per share) | 181.45 | 181.45 | 181.45 | 181.45 | 181.45 |
| 11 | Other equity | 2,771.18 | 2,404.35 | |||
| 12 | Earnings per share (of ₹10 each) (not annualized for interim periods) | |||||
| (a) Basic (₹) | 5.49 | 4.98 | 4.46 | 20.04 | 17.23 | |
| (b) Diluted (₹) | 5.49 | 4.98 | 4.46 | 20.04 | 17.23 |
| Particulars | As at 31 March 2026 (Audited) | As at 31 March 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Financial assets | ||
| Cash and cash equivalents | 209.68 | 437.97 |
| Bank balance other than cash and cash equivalents | 758.62 | 670.75 |
| Trade receivables | 4.47 | 4.66 |
| Loans | 10,433.30 | 8,613.86 |
| Investments | 1,058.28 | 1,593.79 |
| Other financial assets | 380.01 | 193.21 |
| Total Financial assets | 12,844.36 | 11,514.24 |
| Non-financial assets | ||
| Income tax assets (net) | 1.17 | 1.45 |
| Deferred tax assets (net) | 14.54 | 5.51 |
| Property, plant and equipment | 61.66 | 18.91 |
| Capital work-in-progress | 125.76 | 91.48 |
| Right-of-use asset | 2.06 | 3.03 |
| Intangible assets under development | 1.45 | 0.02 |
| Other intangible assets | 6.82 | 2.54 |
| Other non-financial assets | 43.58 | 27.31 |
| Total Non-financial assets | 257.04 | 150.25 |
| Total ASSETS | 13,101.40 | 11,664.49 |
| LIABILITIES AND EQUITY | ||
| LIABILITIES | ||
| Financial liabilities | ||
| Payables | ||
| (I) Trade payables | ||
| (i) total outstanding dues of micro enterprises and small enterprises | – | – |
| (ii) total outstanding dues of creditors other than micro enterprises and small enterprises | 36.34 | 34.90 |
| (II) Other payables | ||
| (i) total outstanding dues of micro enterprises and small enterprises | – | – |
| (ii) total outstanding dues of creditors other than micro enterprises and small enterprises | – | – |
| Debt securities | 1,897.65 | 1,467.96 |
| Borrowings (other than debt securities) | 7,559.11 | 6,950.43 |
| Subordinated liabilities | 305.66 | 303.99 |
| Lease liabilities | 2.36 | 3.34 |
| Other financial liabilities | 321.24 | 300.83 |
| Total Financial liabilities | 10,122.36 | 9,061.45 |
| Non-financial liabilities | ||
| Current tax liabilities (net) | 18.28 | 10.93 |
| Provisions | 2.66 | 0.27 |
| Other non-financial liabilities | 5.47 | 6.04 |
| Total Non-financial liabilities | 26.41 | 17.24 |
| Total LIABILITIES | 10,148.77 | 9,078.69 |
| EQUITY | ||
| Equity share capital | 181.45 | 181.45 |
| Other equity | 2,771.18 | 2,404.35 |
| Total EQUITY | 2,952.63 | 2,585.80 |
| Total LIABILITIES AND EQUITY | 13,101.40 | 11,664.49 |
| Sr. No. | Particulars | Year ended 31 March 2026 (Audited) | Year ended 31 March 2025 (Audited) |
|---|---|---|---|
| A. | CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before exceptional items and tax | 488.83 | 410.43 | |
| Adjustments for: | |||
| – Depreciation, amortization and impairment | 6.37 | 4.91 | |
| – Finance cost | 858.67 | 722.38 | |
| – Impairment on financial instruments | 176.33 | 126.12 | |
| – Loss on sale of property, plant and equipment | 0.07 | – | |
| – Interest income | (1,558.12) | (1,289.64) | |
| – Gain on assignment of financial assets | (226.98) | (143.09) | |
| – Net unrealised gain on fair value changes | (1.76) | (0.73) | |
| – Net gain on sale of investments measured at amortized cost | (2.56) | (1.24) | |
| – Financial guarantee commission income | – | – | |
| – Unrealised (gain) / loss on foreign exchange | (1.05) | 0.48 | |
| – Dividend income | (1.31) | (1.26) | |
| – Gain on derecognition of leased assets | – | (0.02) | |
| Total Adjustments | (750.34) | (582.09) | |
| OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | (261.51) | (171.66) | |
| Changes in working capital: | |||
| Adjustments for (increase)/decrease in operating assets: | |||
| – Loans | (1,721.38) | (1,246.17) | |
| – Trade receivables | 0.19 | 1.86 | |
| – Advances received against loan agreements | – | (2.10) | |
| – Bank balance other than cash and cash equivalents | (71.73) | (3.49) | |
| – Other financial assets | (186.41) | (112.02) | |
| – Other non-financial assets | (14.11) | (7.23) | |
| Adjustments for increase/(decrease) in operating liabilities: | |||
| – Payables | 1.44 | 9.90 | |
| – Other financial liabilities | (0.65) | 68.56 | |
| – Other non-financial liabilities | (0.57) | (0.40) | |
| – Provisions | 1.49 | 0.83 | |
| Total Changes in working capital | (1,991.73) | (1,290.26) | |
| CASH GENERATED FROM / (USED IN) OPERATIONS | (2,253.24) | (1,461.92) | |
| Interest income received | 1,406.17 | 1,172.33 | |
| Dividend received | 1.31 | 1.26 | |
| Interest income on Investment measured at amortised cost | 124.41 | 91.83 | |
| Finance cost paid | (825.87) | (715.00) | |
| Net cash from operations (subtotal) | 706.02 | 550.42 | |
| Income tax paid (net) | (1,547.22) | (911.50) | |
| (124.77) | (97.14) | ||
| NET CASH FLOW GENERATED FROM / (USED IN) OPERATING ACTIVITIES (A) | (1,671.99) | (1,008.64) | |
| B. | CASH FLOW FROM INVESTING ACTIVITIES | ||
| Acquisition of property, plant and equipment and intangible assets, including capital advances | (90.45) | (29.13) | |
| Proceeds from sale of property, plant and equipment and intangible assets | 0.01 | – | |
| Purchase of investments | (5,065.08) | (3,624.92) | |
| Redemption of investments | 5,606.23 | 2,819.14 | |
| **NET CASH FLOW GENERATED FROM / (USED IN) INVEST |