MAS Financial Services has published a newspaper advertisement confirming the logistical details for its 31st Annual General Meeting (AGM), scheduled for Wednesday, September 2, 2026. The company has fixed Wednesday, August 26, 2026, as the record date for determining voting rights and dividend entitlements. This procedural update ensures shareholders have clear timelines to exercise their rights ahead of the vote on critical agenda items, including a proposed increase in borrowing powers from ₹13,500 crore to ₹15,000 crore.

The meeting will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) and SEBI circulars. Shareholders holding shares as of the cut-off date will be eligible to participate. The company has emphasized that the register of members and share transfer books will remain closed from Thursday, August 27, 2026, to Wednesday, September 2, 2026, to facilitate the identification of eligible shareholders.

Remote E-Voting Timeline

Central Depository Services (India) Limited (CDSL) will facilitate remote e-voting. The voting window is strictly defined to ensure orderly conduct of the meeting:

Shareholders who cast their votes via remote e-voting prior to the AGM are not entitled to vote again during the meeting. However, they may still attend the VC/OAVM session. Those who do not vote remotely can cast their votes electronically during the live meeting.

Key Agenda Items

The primary focus of the AGM is the approval of enhanced financial capacities to support the company’s non-banking financial activities. Key resolutions include:

• Borrowing Powers: Increasing the limit under Section 180(1)(c) of the Companies Act, 2013, to ₹15,000 crore.
• Asset Charges: Enhancing limits for creating charges on assets under Section 180(1)(a) to secure borrowings up to ₹15,000 crore.
• Dividend Declaration: Approving a final dividend of ₹0.75 per equity share for FY26.
• Director Re-appointment: Re-appointing Mrs. Darshana Pandya as a Whole-time Director.

Strategic Context

The proposed increase in borrowing limits is designed to provide liquidity headroom for asset origination and securitization. Management notes that the current limit of ₹13,500 crore, approved in September 2025, requires expansion to align with operational scale. The simultaneous declaration of a final dividend signals stable cash flows despite the increased leverage capacity. Unclaimed dividends from FY2019-20 remain liable for transfer to the Investor Education and Protection Fund (IEPF) in November 2026 if not claimed by the record date.

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.