MAS Financial Services will hold its 31st Annual General Meeting (AGM) on Wednesday, September 2, 2026, via video conferencing to seek shareholder approval for a significant increase in borrowing powers and propose a final dividend for FY26. The company aims to raise its borrowing limit from ₹13,500 crore to ₹15,000 crore to support business operations, liquidity management, and future growth plans. This strategic move underscores the firm’s focus on optimizing capital deployment in the non-banking financial sector while ensuring sufficient headroom for asset origination and securitization activities.

The meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) and SEBI circulars. Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL), commencing on Saturday, August 29, 2026, and concluding on Tuesday, September 1, 2026. The cut-off date for voting rights and the record date for the final dividend is Wednesday, August 26, 2026. Shareholders whose email addresses are not registered with the company or their depository participants have been sent a letter under Regulation 30 of the SEBI Listing Regulations, providing a weblink to access the Annual Report for FY25-26.

Key Agenda Items

Shareholders will vote on several ordinary and special business items during the AGM:

Mrs. Darshana Pandya, Executive Director and CEO, offers herself for re-appointment as a Whole-time Director. She has served on the Board since September 23, 2016, and holds a Bachelor’s degree in Commerce. Her remuneration remains unchanged at ₹14,90,577 per annum. As of March 31, 2026, she holds 58,338 equity shares, representing 0.0322% of the company’s share capital.

Strategic Rationale for Borrowing Increase

The explanatory statement notes that the proposed increase in borrowing powers is essential for managing liquidity, refinancing requirements, and general corporate purposes. Given the company’s engagement in non-banking financial activities, including securitization and transfer of credit risk, the Board requires flexibility to create charges on movable and immovable properties. The current limit of ₹13,500 crore was approved at the previous AGM held on September 3, 2025.

What the Numbers Show

The proposal to raise the borrowing cap by ₹1,500 crore reflects the company’s ongoing expansion in asset origination and portfolio management. By aligning its secured borrowing limits with its operational scale, MAS Financial Services ensures it can meet funding demands without regulatory friction. The simultaneous declaration of a final dividend indicates stable cash flows despite increased leverage capacity.

Important Dates for Shareholders

Members holding shares in demat mode are advised to update their electronic bank mandates with their Depository Participants to ensure smooth dividend remittance. Unclaimed dividends from FY2019-20 remain liable for transfer to the Investor Education and Protection Fund (IEPF) in November 2026 if not claimed.

MAS Financial Services Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year April 1, 2025 to March 31, 2026, to BSE Limited and the National Stock Exchange of India Limited. The filing was made pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report is prepared on a standalone basis and covers disclosures across all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC). The company, incorporated in 1995 and headquartered in Ahmedabad, Gujarat, operates as a Non-Banking Finance Company engaged in lending and allied activities, with 208 offices across 13 states and union territories as on March 31, 2026.

Corporate Overview and Financial Profile

MAS Financial Services Limited reported a paid-up capital of ₹1,81,45,33,770 as of the reporting period. The company's CSR applicability disclosures indicate a turnover of ₹1,900.33 Crore and a net worth of ₹2,952.63 Crore. The company holds two subsidiaries — MAS Rural Housing & Mortgage Finance Limited (63.74% shareholding) and Masfin Insurance Broking Private Limited (69.50% shareholding) — neither of which participates in the company's Business Responsibility initiatives. Investments in related parties as a percentage of total investments stood at 9.63% in FY 2025-26, compared to 4.80% in FY 2024-25.

Workforce Composition and Employee Well-Being

As at the end of FY 2025-26, MAS Financial Services Limited had a total permanent employee strength of 1,933, comprising 1,771 males (91.62%) and 162 females (8.38%). The company reported 3 differently abled permanent employees, all male. Women represented 28.57% of the Board of Directors (2 out of 7) and 40% of Key Management Personnel (2 out of 5) as on March 31, 2026. The employee turnover rate for permanent employees increased to 50.39% in FY 2025-26 from 37.99% in FY 2024-25 and 30.83% in FY 2023-24.

Well-being expenditure as a percentage of total revenue stood at 0.30% in FY 2025-26, up from 0.22% in FY 2024-25. All 1,933 permanent employees were covered under accident insurance. Provident Fund coverage stood at 85.31% of total employees in FY 2025-26, while ESI coverage was at 5.17%. The return-to-work and retention rates for employees who took maternity or parental leave were both 100% for FY 2025-26.

Training, Human Rights, and Governance

In FY 2025-26, the company conducted 4 training and awareness programmes for the Board of Directors and Key Managerial Personnel, achieving 100% coverage. For employees other than Board members and KMPs, 1,899 training programmes were conducted, also with 100% coverage. Topics covered included POSH, whistleblowing, Fair Practices Code, cybersecurity, data privacy, ESG awareness, KYC/AML compliance, and fraud prevention, among others.

On health and safety training, 1,486 out of 1,933 employees (76.88%) received training on health and safety measures in FY 2025-26, while 1,009 employees (52.20%) received skill upgradation training. Human rights training was provided to 1,694 out of 1,933 permanent employees (87.64%) in FY 2025-26, compared to 1,487 out of 1,758 (84.58%) in FY 2024-25. No complaints related to sexual harassment, discrimination, child labour, forced labour, or other human rights issues were filed or pending in either FY 2025-26 or FY 2024-25.

In terms of remuneration, 95.09% of permanent employees (1,838 out of 1,933) were paid above the minimum wage in FY 2025-26. Gross wages paid to female employees as a percentage of total wages rose to 7.78% in FY 2025-26 from 5.77% in FY 2024-25. The median remuneration for male Board of Directors stood at ₹4,99,40,868 and for female Board members at ₹1,48,23,002 (excluding Non-Executive/Independent Directors).

Environmental Performance

MAS Financial Services Limited reported total energy consumption from non-renewable sources of 14,643 gigajoules in FY 2025-26, compared to 11,856 gigajoules in FY 2024-25. Total electricity consumption (non-renewable) was 5,089 gigajoules and total fuel consumption was 9,554 gigajoules in FY 2025-26. Energy intensity per rupee of turnover was 0.77 in FY 2025-26, marginally lower than 0.78 in FY 2024-25.

Total waste generated increased to 1.260 metric tonnes in FY 2025-26 from 0.383 metric tonnes in FY 2024-25, primarily driven by a rise in e-waste from 0.373 to 1.250 metric tonnes. Plastic waste remained at 0.01 metric tonnes in both years. The company has undertaken initiatives including tree plantation, digitization of business processes, and the use of ceramic cups to reduce paper and plastic waste.

Consumer Engagement and Grievance Redressal

The company received 1,620 customer complaints in FY 2025-26, of which 669 were received from partners, compared to 1,321 total complaints in FY 2024-25 (577 from partners). As on March 31, 2026, 60 complaints were pending resolution, of which 31 pertained to partner complaints. In FY 2024-25, 36 complaints were pending as on March 31, 2025, of which 10 were from partners. No complaints were filed or pending from communities, investors, shareholders, employees, or value chain partners in either year.

The company reported zero data breaches during FY 2025-26. It maintains a cyber security and data privacy policy, available on its website. CSR initiatives during FY 2025-26 benefited over 250 individuals under MAS Arogya Abhiyan, over 15,000 students under Shiksha Abhiyan, over 10,000 individuals under the MAS Menstrual Hygiene Programme, and over 300 individuals under Grain Distribution, with 100% of beneficiaries from vulnerable and marginalised groups across all four programmes.