Mas Financial Services Limited

Nbfc · Financial Services

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Methodology v1.0 Download Report (PDF)
Latest Rating
AA- (CARE)
Total Debt Outstanding
₹2,425 Cr
Across 27 instruments
Listed Bonds
27
First Issue
2021-10-20
Latest Issue
2026-06-24
Maturity Range
2026 - 2031
Observation
27 active bonds tracked from this issuer.
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Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
01 Issuer Overview
Sector
Financial Services
Issuer Type
Nbfc
First Tracked Bond
2021-10-20
Start of this issuer's debt program timeline
  • 27 active bonds tracked from this issuer.
  • 19 of 27 tracked bonds with a stated security status are secured. (based on 27 bonds with a disclosed security status)

Mas Financial Services Limited, an NBFC in the financial services sector, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 8.35% - 10.75%, paid monthly. Maturities on outstanding bonds fall between 2026 - 2031.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
27
Tracked by RetailBonds
Amount Tracked
₹2,425 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 24 of 27 bonds)
Avg Coupon
9.76%
Range 8.35% - 10.75%
Avg Remaining Tenure
1.5 Yrs
Nearest maturity 2026-09
Secured
70%
19 of 27 bonds with known status
Callable
0
Of 27 bonds
Avg Spread vs G-Sec
+397 bps
Credit premium (indicative)

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (10 bonds).

0 2026: 5 bonds, ₹365 Cr tracked, avg coupon 9.41% 5 bonds 2026 2027: 10 bonds, ₹790 Cr tracked, avg coupon 9.65% 10 bonds 2027 2028: 7 bonds, ₹610 Cr tracked, avg coupon 10.08% 7 bonds 2028 2029: 4 bonds, ₹300 Cr tracked, avg coupon 9.97% 4 bonds 2029 2031: 1 bond, ₹360 Cr tracked, avg coupon 9.90% 1 bond 2031

Security Type / Instrument Mix

  • NCD 27 bonds · 100% · ₹2,425 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2021: ₹100 Cr issued 2021 2022: ₹60 Cr issued 2022 2023: ₹250 Cr issued 2023 2024: ₹415 Cr issued 2024 2025: ₹990 Cr issued 2025 2026: ₹610 Cr issued 2026 Cumulative: ₹100 Cr Cumulative: ₹160 Cr Cumulative: ₹410 Cr Cumulative: ₹825 Cr Cumulative: ₹1,815 Cr Cumulative: ₹2,425 Cr

Based on 24 of 27 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

Financial Snapshot

FY26 vs FY25
Debt / Equity
0.00
Prior: 0.00
Debt Service Coverage (DSCR)
0.00
Prior: 0.00
Interest Service Coverage (ISCR)
0.00
Prior: 0.00
Revenue from Operations
₹25.79 Cr
Prior: ₹5.86 Cr
Net Profit / Loss
₹5.90 Cr
Prior: ₹-5.92 Cr
Profit Before Tax
₹7.76 Cr
Prior: ₹-5.92 Cr

As filed under SEBI LODR Reg 52(4) / Integrated Filing, filed 13 Jul 2026. Figures are reported facts, not a rating or recommendation.

03 Credit Profile
  • AA 16 bonds · 59%
  • A 8 bonds · 30%
  • Unrated 3 bonds · 11%
AgencyRatingOutlookBonds
CARE A+ 7
CARE AA 6
CARE AA Stable 4
CARE AA- 4
ACUITE AA 1
ACUITE AA- 1
CARE A Stable 1
CRISIL AA Stable 1

Recent Rating Actions

No rating action history available.

04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade
INE348L07159 9.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT DATE OF MATURITY 28/09/2026 9.75% A+ (CARE) 2026-09-28
INE348L07308 MASFS-8.35%-16-11-26-PVT 8.35% AA (CARE) 2026-11-16 8.35% 2026-08-18
INE348L07241 MASFSL-9.60%-23-12-26-PVT 9.60% AA (CARE) 2026-12-23 8.50% 2026-07-31
IN8348L07018 9.60% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES II DATE OF MATURITY 23/12/2026 9.60% 2026-12-23
INE348L07266 MFSL-9.75%-30-12-26-PVT 9.75% AA (CARE) 2026-12-30
INE348L07274 MFSL-9.60%-13-2-27-PVT 9.60% AA (CARE) 2027-02-13 8.62% 2026-08-25
INE348L07290 MFSL-9.60%-28-03-27-PVT 9.60% AA (CRISIL) 2027-03-28 8.30% 2026-07-09
INE348L07316 MASFS-9.25%-16-5-27-PVT 9.25% AA (CARE) 2027-05-16 9.10% 2026-08-26
IN8348L07026 9.25% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES B DATE OF MATURITY 16/05/2027 9.25% 2027-05-16
INE348L08041 MFSL-10.75%-20-5-27-PVT 10.75% A (CARE) 2027-05-20
INE348L07324 MASFSL-9.75%-15-06-27-PVT 9.75% AA (CARE) 2027-06-15
INE348L07209 9.57% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 21/06/2027. 9.57% AA- (CARE) 2027-06-21 9.24% 2026-08-19
INE348L07332 MFSL-9.10%-29-8-27-PVT 9.10% AA (CARE) 2027-08-29 8.39% 2026-08-26
INE348L07340 MFSL-8.9%-28-11-27-PVT 8.90% AA (CARE) 2027-11-28 9.25% 2026-08-24
INE348L08058 10.75% UNSECURED RATED UNLISTED REDEEMABLE NON CONVERTIBLE DEBENTURE. DATE OF MATURITY 29/12/2027. 10.75% A+ (CARE) 2027-12-29 10.35% 2026-08-20
INE348L07183 RESET RATE SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE DATE OF MATURITY 21/03/2028 AA- (ACUITE) 2028-03-21
INE348L08066 10.75% UNSECURED RATED UNLISTED SUBORDINATE REDEEMABLE NON CONVERTIBLE DEBENTURE. LETTER OF ALLOTMENT.DATE OF MATURITY 28/04/2028. 10.75% A+ (CARE) 2028-04-28 10.30% 2026-07-17
INE348L07381 8.70% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 24/06/2028 8.70% AA- (CARE) 2028-06-24 8.75% 2026-08-24
INE348L08082 10.75% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT DATE OF MATURITY 10/10/2028 10.75% A+ (CARE) 2028-10-10
INE348L08090 10.75% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT DATE OF MATURITY 27/10/2028 10.75% A+ (CARE) 2028-10-27 10.50% 2026-07-27
INE348L08074 10.75% UNSECURED RATED UNLISTED REDEEMABLE NON CONVERTIBLE DEBENTURE. LETTER OF ALLOTMENT. DATE OF MATURITY 21/12/2028. 10.75% A+ (CARE) 2028-12-21 10.03% 2026-07-03
INE348L07357 MFSL-8.75%-30-12-28-PVT 8.75% AA (CARE) 2028-12-30
INE348L07282 MFSL-1 MMCLR OF IDFC FIRST Bank-21-3-29-PVT 9.80% AA (ACUITE) 2029-03-21
INE348L07365 MASFSL-8.60%-25-03-29-PVT 8.60% AA (CARE) 2029-03-25
IN8348L08016 10.75% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 08/07/2029 10.75% 2029-07-08
INE348L08108 10.75% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 08/07/2029 10.75% A+ (CARE) 2029-07-08 9.65% 2026-08-20
INE348L07373 9.90% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES DATE OF MATURITY 20/05/2031 9.90% AA- (CARE) 2031-05-20
Compare (/) Compare Bonds

YTM and Last Trade depend on secondary-market volume — shown only for bonds with a recorded BSE/NSE trade.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

Traded Value (Last 30 Days)
₹0.0 Cr
Number of Trades (Last 30 Days)
77
Avg. Yield (Last 30 Days)
9.06%
06 Regulatory Filings
BSE Corporate Announcements
Newspaper advertisement of 31st Annual General Meeting, record date & E-voting information. 2026-08-10
31st Annual General Meeting to be held on September 2, 2026 2026-08-07
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 25 2026-06-16
Rating Actions History 0
Secondary-Market Trades 154 2026-08-26
Reg52(4) Payment Disclosures 0

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Mas Financial Services Limited have?

Mas Financial Services Limited currently has 27 active bonds with coupons 8.35% - 10.75%, maturities spanning 2026 - 2031.

What is Mas Financial Services Limited's credit rating?

The most recent rating on Mas Financial Services Limited's bonds is AA- (CARE), published by ACUITE, CARE, CRISIL.

Are Mas Financial Services Limited's bonds secured?

Of the 27 bonds with a disclosed security status, 19 are secured (70%) and 8 are unsecured.

When do Mas Financial Services Limited's bonds mature?

Mas Financial Services Limited's active bonds mature between 2026 - 2031; the nearest matures in 2026-09; the average tenure is 1.5 Yrs.

What is the average coupon on Mas Financial Services Limited's bonds?

The average coupon across Mas Financial Services Limited's 27 active bonds is 9.76%.

Disclaimer: This page aggregates publicly available data about Mas Financial Services Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.