MAS Financial Services Limited has received an upgraded ESG rating from CareEdge ESG Ratings, a SEBI-registered ESG rating provider. The company announced this development to the stock exchanges on December 29, 2025, in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

ESG Rating Enhancement

MAS Financial Services has achieved significant improvement in its ESG performance metrics. The upgraded rating reflects the company's enhanced approach to environmental, social, and governance practices.

Rating Significance

The CareEdge-ESG 2 rating carries specific implications for the company's ESG risk management capabilities. According to the rating methodology, this grade indicates a strong position in managing ESG risks through superior disclosures, policies, and performance. The rating upgrade demonstrates MAS Financial Services' commitment to sustainable business practices and enhanced governance standards.

The improved ESG rating score of 65.6, up from the previous 61.4, signifies a notable advancement in the company's ESG risk management position. This upgrade to CareEdge-ESG 2 rating further underscores the company's strong stance in addressing and mitigating ESG-related risks.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by promptly informing both major stock exchanges about this rating upgrade. The communication was addressed to BSE Limited and National Stock Exchange of India Limited. Company Secretary and Chief Compliance Officer Riddhi Bhaveshbhai Bhayani signed the regulatory filing, ensuring proper documentation and compliance with listing requirements.

This ESG rating improvement positions MAS Financial Services favorably among peers in terms of sustainability metrics and risk management practices.

MAS Financial Services Limited , a leading non-banking financial company (NBFC), has reported robust growth in its consolidated Assets Under Management (AUM) for the quarter ended September 30, 2025. The company's AUM reached INR 13,821 crores, marking an 18.32% increase compared to the same period last year.

Financial Highlights

The company's profit after tax (PAT) on a consolidated basis grew by 17.79% to INR 91.43 crores. On a standalone basis, MAS Financial Services reported an AUM of INR 12,999 crores and a PAT of INR 89.70 crores, representing growth rates of 18% and 17.15% respectively.

Asset Quality and Capital Adequacy

MAS Financial Services maintained a strong asset quality with net Stage 3 assets at 1.69%. The company continues to carry a management overlay of INR 17.60 crores, demonstrating a prudent approach to potential risks.

The capital adequacy ratio stands at a robust 24.57%, with Tier 1 capital at 22.7%, indicating a strong financial position and capacity for future growth.

Business Expansion and Future Outlook

Chairman Kamlesh Gandhi outlined the company's medium-term vision of reaching an AUM of INR 1 lakh crore within a decade. This ambitious target reflects the company's confidence in its business model and growth prospects.

MAS Financial has expanded its presence across 15,000 pin codes and collaborates with approximately 200 partner NBFCs, showcasing its extensive reach and diversified business approach.

New Ventures

The company received final approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its insurance broking business through its subsidiary, MAS FinInsurance Broking. This new venture is expected to complement the company's existing financial services offerings.

Housing Finance Subsidiary Performance

MAS Financial's housing finance subsidiary reported an AUM of INR 821.70 crores, achieving a growth of 23.65%. The subsidiary maintained a healthy asset quality with Stage 3 assets at 0.66%.

Market Outlook and Strategy

During the earnings call, management expressed optimism about the improving market conditions for MSMEs. They anticipate a gradual increase in growth rates, projecting a return to their target range of 20-25% annual growth in the coming quarters.

The company remains focused on maintaining a balanced approach to growth, emphasizing the importance of credit quality while expanding its business. Management also highlighted their efforts to improve operational efficiencies and leverage technology to enhance customer service and streamline processes.

MAS Financial Services' strong performance in Q2 FY26, coupled with its strategic initiatives and positive outlook, positions the company well for sustained growth in the evolving financial services landscape.