MAS Financial Services Ltd

MAS Financial Services Ltd

₹ 994 -1.14%
21 Feb 1:57 p.m.
About

MAS Financial Services Limited is a non-deposit taking NBFC registered with the RBI. It is engaged in offering retail financing products for MSMEs, home loans, two-wheeler loans, used car loans and commercial vehicle loans. [1]

Key Points

AUM 9MFY24
Consolidated AUM : Rs. 10,216 crs.
Standalone : Rs. 9,672 crs.
AUM Mix
MEL : 45%
SME : 36%
2W loans : 7%
CV : 7%
Salaried PL : 5%[1]

  • Market Cap 5,433 Cr.
  • Current Price 994
  • High / Low 1,068 / 680
  • Stock P/E 22.8
  • Book Value 301
  • Dividend Yield 0.12 %
  • ROCE 11.4 %
  • ROE 14.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company's median sales growth is 26.8% of last 10 years

Cons

  • Stock is trading at 3.35 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 13.4% over last 3 years.
  • Dividend payout has been low at 8.60% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
150 147 156 165 180 192 205 241 261 281 292 310 340
32 31 31 31 37 35 45 56 59 60 65 76 82
Operating Profit 118 116 125 135 143 157 160 185 202 221 227 235 258
OPM % 79% 79% 80% 81% 79% 82% 78% 77% 78% 79% 78% 76% 76%
0 0 0 0 0 0 0 0 1 1 0 3 2
Interest 69 66 75 81 88 95 97 116 133 150 150 154 172
Depreciation 1 1 1 0 0 1 1 1 1 1 1 1 1
Profit before tax 49 50 50 53 55 62 62 68 69 72 77 83 87
Tax % 25% 27% 26% 26% 26% 25% 26% 25% 25% 21% 25% 25% 26%
36 36 37 40 41 46 46 51 52 57 58 62 64
EPS in Rs 6.59 6.65 6.70 7.16 7.43 8.33 8.32 9.18 9.39 10.29 10.41 11.19 11.64
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
116 143 185 238 309 365 477 605 710 627 690 989 1,223
41 44 55 62 82 92 118 138 175 143 132 218 282
Operating Profit 75 99 130 176 227 273 358 466 535 485 558 771 941
OPM % 65% 69% 70% 74% 73% 75% 75% 77% 75% 77% 81% 78% 77%
-0 0 0 0 -0 -0 -2 -2 -3 0 1 1 6
Interest 46 57 80 113 142 165 187 225 299 286 340 498 625
Depreciation 1 1 1 1 1 1 2 2 3 3 2 3 4
Profit before tax 29 41 50 62 84 106 168 238 230 196 217 272 318
Tax % 30% 32% 33% 34% 35% 35% 37% 35% 27% 26% 26% 24%
20 27 33 41 55 69 105 155 168 146 161 206 241
EPS in Rs 20.13 27.31 20.38 24.99 33.87 15.95 19.24 28.09 30.62 26.41 29.13 37.18 43.53
Dividend Payout % 11% 13% 17% 19% 20% 20% 19% 18% 26% 6% 10% 10%
Compounded Sales Growth
10 Years: 21%
5 Years: 16%
3 Years: 12%
TTM: 36%
Compounded Profit Growth
10 Years: 22%
5 Years: 14%
3 Years: 6%
TTM: 24%
Stock Price CAGR
10 Years: %
5 Years: 13%
3 Years: 6%
1 Year: 25%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 13%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 10 16 16 16 43 55 55 55 55 55 55 55
Reserves 34 45 61 88 122 241 725 861 932 1,125 1,295 1,464 1,590
Preference Capital 83 43 43 43 45 47 0 0 0 0 0 0
384 564 773 1,081 1,358 1,264 1,455 2,273 2,796 3,513 4,439 6,128 6,966
177 183 283 387 450 652 665 801 1,037 737 519 368 339
Total Liabilities 604 802 1,133 1,572 1,947 2,200 2,898 3,990 4,820 5,430 6,309 8,014 8,949
6 6 6 4 8 9 58 13 15 12 14 17 22
CWIP 0 0 0 0 0 0 0 46 48 50 52 58 61
Investments 0 0 0 0 0 0 0 0 5 202 493 791 794
598 796 1,127 1,567 1,938 2,191 2,840 3,932 4,752 5,166 5,750 7,148 8,072
Total Assets 604 802 1,133 1,572 1,947 2,200 2,898 3,990 4,820 5,430 6,309 8,014 8,949

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-18 -80 -184 -267 -281 -164 -386 -468 196 -578 -805 -1,488
2 4 0 -2 -3 -4 -49 14 4 -199 -820 -242
60 123 200 303 251 34 438 802 448 719 923 1,684
Net Cash Flow 44 48 16 34 -32 -134 3 348 648 -59 -702 -46

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 0 0 0 0 0 0 0 0 0 1 1 2
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 1 1 2
Working Capital Days 874 748 906 1,039 1,082 778 -466 -444 -479 -381 -228 -97
ROCE % 17% 17% 16% 16% 17% 19% 17% 15% 11% 11% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.60% 73.60% 73.60% 73.62% 73.64% 73.71% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72%
1.58% 1.64% 1.66% 1.62% 1.53% 1.54% 1.54% 1.53% 1.59% 1.59% 2.01% 1.63%
10.61% 10.48% 10.03% 9.95% 9.46% 9.39% 10.21% 11.04% 11.01% 10.58% 8.57% 8.43%
14.21% 14.28% 14.71% 14.81% 15.37% 15.36% 14.53% 13.70% 13.68% 14.10% 15.69% 16.21%
No. of Shareholders 23,89923,54425,84327,73430,49729,68125,81625,76124,76723,83728,99931,514

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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