BSE:540749

Stock Analysis Report

Executive Summary

MAS Financial Services Limited offers retail financing services in India.

Snowflake

Fundamentals

Proven track record with mediocre balance sheet.

Share Price & News

How has MAS Financial Services's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.5%

BSE:540749

-3.6%

IN Consumer Finance

-2.1%

IN Market


1 Year Return

6.6%

BSE:540749

-3.2%

IN Consumer Finance

-14.7%

IN Market

540749 outperformed the Consumer Finance industry which returned -3.1% over the past year.

540749 outperformed the Market in India which returned -14.6% over the past year.


Share holder returns

540749IndustryMarket
7 Day-3.5%-3.6%-2.1%
30 Day1.1%1.9%-3.9%
90 Day9.3%-10.2%-10.1%
1 Year7.5%6.6%-2.5%-3.2%-12.9%-14.7%
3 Yearn/a59.3%56.0%17.7%11.5%
5 Yearn/a233.9%218.2%35.4%22.5%

Price Volatility Vs. Market

How volatile is MAS Financial Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is MAS Financial Services undervalued based on future cash flows and its price relative to the stock market?

19.92x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

MAS Financial Services's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

MAS Financial Services's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

MAS Financial Services is overvalued based on earnings compared to the IN Consumer Finance industry average.

MAS Financial Services is overvalued based on earnings compared to the India market.


Price Based on Expected Growth

Unable to calculate PEG ratio for MAS Financial Services, we can't assess if its growth is good value.


Price Based on Value of Assets

MAS Financial Services is overvalued based on assets compared to the IN Consumer Finance industry average.


Next Steps

Future Growth

How is MAS Financial Services expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

-12.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

MAS Financial Services's revenue is expected to grow by 19.5% yearly, however this is not considered high growth (20% yearly).

MAS Financial Services's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

MAS Financial Services's revenue growth is expected to exceed the India market average.

MAS Financial Services's earnings are expected to decrease over the next 1-3 years, this is below the India market average.

MAS Financial Services's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 7.6%.


Earnings per Share Growth Estimates


Future Return on Equity

MAS Financial Services is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has MAS Financial Services performed over the past 5 years?

32.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

MAS Financial Services has delivered over 20% year on year earnings growth in the past 5 years.

MAS Financial Services's 1-year earnings growth exceeds its 5-year average (38.9% vs 32.4%)

MAS Financial Services's earnings growth has exceeded the IN Consumer Finance industry average in the past year (38.9% vs 15%).


Return on Equity

MAS Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

MAS Financial Services used its assets more efficiently than the IN Consumer Finance industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if MAS Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is MAS Financial Services's financial position?


Financial Position Analysis

MAS Financial Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

MAS Financial Services's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

MAS Financial Services's level of debt (241.8%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (593.5% vs 241.8% today).

Operating cash flow is negative therefore debt is not well covered.

Unable to confirm if the interest payments on MAS Financial Services's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 1.7x debt.


Next Steps

Dividend

What is MAS Financial Services's current dividend yield, its reliability and sustainability?

0.85%

Current Dividend Yield


Dividend Yield and Payments Analysis

MAS Financial Services's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.65%).

MAS Financial Services's dividend is below the markets top 25% of dividend payers in India (2.64%).

MAS Financial Services has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but MAS Financial Services only paid a dividend in the past 2 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (5.9x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of MAS Financial Services's salary, the management and board of directors tenure and is there insider trading?

24.6yrs

Average management tenure


CEO

Kamlesh Gandhi (53yo)

24.6yrs

Tenure

₹71,877,000

Compensation

Mr. Kamlesh Chimanlal Gandhi founded MAS Financial Services Ltd. in 1988 and serves as its Managing Director. Mr. Gandhi manages MAS Financial Services Ltd., with the guidance and support of the Board. He  ...


CEO Compensation Analysis

Kamlesh's remuneration is higher than average for companies of similar size in India.

Kamlesh's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

24.6yrs

Average Tenure

47.5yo

Average Age

The average tenure for the MAS Financial Services management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

11.2yrs

Average Tenure

63.5yo

Average Age

The average tenure for the MAS Financial Services board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buy₹159,48312 Nov 18
Dhvanil Gandhi
EntityIndividual
Shares319
Max Price₹499.95
Buy₹249,56412 Nov 18
Anamaya Capital LLP
EntityCompany
Shares500
Max Price₹499.13
Buy₹965,32624 Oct 18
Darshana Pandya
EntityIndividual
Role
Member of the Board of Directors
COO & Whole-Time Director
Shares2,500
Max Price₹386.13
Buy₹1,990,50023 Oct 18
Anamaya Capital LLP
EntityCompany
Shares5,000
Max Price₹398.10
Buy₹1,489,12523 Oct 18
Dhvanil Gandhi
EntityIndividual
Shares3,750
Max Price₹397.10
Buy₹974,91623 Oct 18
Darshana Pandya
EntityIndividual
Role
Member of the Board of Directors
COO & Whole-Time Director
Shares2,400
Max Price₹406.21
Buy₹1,488,95712 Oct 18
Anamaya Capital LLP
EntityCompany
Shares3,250
Max Price₹458.14
Buy₹1,011,44512 Oct 18
Dhvanil Gandhi
EntityIndividual
Shares2,200
Max Price₹459.75
Buy₹972,74512 Oct 18
Darshana Pandya
EntityIndividual
Role
Member of the Board of Directors
COO & Whole-Time Director
Shares2,000
Max Price₹486.37
Buy₹1,492,22410 Oct 18
Anamaya Capital LLP
EntityCompany
Shares3,175
Max Price₹469.99
Buy₹997,34409 Oct 18
Dhvanil Gandhi
EntityIndividual
Shares2,100
Max Price₹474.93
Buy₹989,57609 Oct 18
Anamaya Capital LLP
EntityCompany
Shares2,050
Max Price₹482.72
Buy₹2,474,65604 Oct 18
Anamaya Capital LLP
EntityCompany
Shares5,000
Max Price₹494.93
Buy₹2,499,87502 Oct 18
Anamaya Capital LLP
EntityCompany
Shares5,000
Max Price₹499.98
Buy₹497,59902 Oct 18
Prarthna Marketing Private Limited
EntityCompany
Shares1,000
Max Price₹497.60
Buy₹2,500,29729 Sep 18
Anamaya Capital LLP
EntityCompany
Shares4,900
Max Price₹510.26
Buy₹1,987,97529 Sep 18
Prarthna Marketing Private Limited
EntityCompany
Shares3,800
Max Price₹523.15
Buy₹1,493,45825 Sep 18
Anamaya Capital LLP
EntityCompany
Shares2,900
Max Price₹514.99
Buy₹1,493,45525 Sep 18
Dhvanil Gandhi
EntityIndividual
Shares2,900
Max Price₹514.98
Buy₹1,515,25022 Sep 18
Darshana Pandya
EntityIndividual
Role
Member of the Board of Directors
COO & Whole-Time Director
Shares2,800
Max Price₹541.16
Buy₹2,475,41622 Sep 18
Dhvanil Gandhi
EntityIndividual
Shares4,600
Max Price₹538.13
Buy₹2,487,96822 Sep 18
Anamaya Capital LLP
EntityCompany
Shares4,600
Max Price₹540.86
Buy₹497,83419 Sep 18
Darshana Pandya
EntityIndividual
Role
Member of the Board of Directors
COO & Whole-Time Director
Shares910
Max Price₹547.07
Buy₹1,488,85418 Sep 18
Anamaya Capital LLP
EntityCompany
Shares2,750
Max Price₹541.40
Buy₹980,26518 Sep 18
Dhvanil Gandhi
EntityIndividual
Shares1,800
Max Price₹544.59

Ownership Breakdown


Management Team

  • Kamlesh Gandhi (53yo)

    Founder

    • Tenure: 24.6yrs
    • Compensation: ₹71.88m
  • Mukesh Gandhi (62yo)

    Co-Founder

    • Tenure: 24.3yrs
    • Compensation: ₹71.82m
  • Nishant Jain

    Head of Risk & Monitoring

    • Tenure: 0.0yrs
  • Darshana Pandya (47yo)

    COO & Whole-Time Director

    • Tenure: 2.9yrs
    • Compensation: ₹3.13m
  • Saumil Pandya (46yo)

    President & Head of Retail Assets

    • Tenure: 0.0yrs
  • Sunil Shah (48yo)

    Head of portfolio

    • Tenure: 0.0yrs
  • Ankit Jain (31yo)

    Head of Investor Relations & VP of Finance

    • Tenure: 0.0yrs
  • Darshil Hiranandani

    Company Secretary

    • Tenure: 1.3yrs

Board Members

  • Daksha Shah (74yo)

    Women Independent Director

    • Tenure: 0.4yrs
    • Compensation: ₹10.00k
  • Bala bhaskaran N. Nair (68yo)

    Independent Director

    • Tenure: 24.3yrs
    • Compensation: ₹145.00k
  • Kamlesh Gandhi (53yo)

    Founder

    • Tenure: 24.6yrs
    • Compensation: ₹71.88m
  • Mukesh Gandhi (62yo)

    Co-Founder

    • Tenure: 24.3yrs
    • Compensation: ₹71.82m
  • Chetanbhai Shah (65yo)

    Independent Director

    • Tenure: 11.2yrs
    • Compensation: ₹110.00k
  • Darshana Pandya (47yo)

    COO & Whole-Time Director

    • Tenure: 2.9yrs
    • Compensation: ₹3.13m
  • Subir Nag

    Independent Director

    • Tenure: 0.0yrs

Company Information

MAS Financial Services Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MAS Financial Services Limited
  • Ticker: 540749
  • Exchange: BSE
  • Founded: 1995
  • Industry: Consumer Finance
  • Sector: Diversified Financials
  • Market Cap: ₹32.636b
  • Shares outstanding: 54.66m
  • Website: https://www.mas.co.in

Number of Employees


Location

  • MAS Financial Services Limited
  • 6, Narayan Chambers
  • Ground Floor
  • Ahmedabad
  • Gujarat
  • 380009
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
540749BSE (Mumbai Stock Exchange)YesEquity SharesININROct 2017
MASFINNSEI (National Stock Exchange of India)YesEquity SharesININROct 2017

Biography

MAS Financial Services Limited offers retail financing services in India. The company provides micro enterprise, two wheeler, small and medium enterprise, commercial vehicle, used car, tractor, and housing ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 12:52
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.