MAS Financial Services - Recent Correction In Market Provides Good Opportunity: HDFC Securities

MAS Financial Services - Recent Correction In Market Provides Good Opportunity: HDFC Securities

An employee counts rupee currency notes inside a private money exchange office in New Delhi. (Source: Reuters) 

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HDFC Securities Retail Research

MAS Financial Services Ltd. is an Ahmedabad-based non-banking Finance company. It has a diversified product portfolio that includes micro enterprise loans, small and medium enterprise loans, home loans (through subsidiary), two-wheeler loans, used car loans and commercial vehicle loans.

It has a track record of more than Rs 15,000 crore cumulative disbursement with total loss less than 0.5% over a decade across various tough periods.

Despite the slowdown in the industry due to Covid-19, MAS Financial has been able to maintain strong growth in almost all its verticals while maintaining its asset quality profile.

The company is expanding its distribution reach and it is more focused on growing direct distribution channel compared to NBFC Partners. It is also working with various fintech partners; management is aiming that fintech partnerships could contribute to ~20-25% of the disbursements.

Click on the attachment to read the full report:

HDFC Securities Retail Research MAS Financial Services Limited-Stock Update.pdf
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