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Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

MAS Financial Services Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:55 pm

Market Cap 5,063 Cr.
Current Price 279
High / Low388/266
Stock P/E18.0
Book Value 133
Dividend Yield0.54 %
ROCE11.7 %
ROE15.2 %
Face Value 10.0
PEG Ratio2.92

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for MAS Financial Services Ltd

Competitors of MAS Financial Services Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nam Securities Ltd 85.7 Cr. 159198/62.8238 21.20.00 %4.16 %3.05 % 10.0
Naperol Investments Ltd 828 Cr. 1,4412,041/801845 3,2040.00 %0.08 %0.05 % 10.0
Inani Securities Ltd 14.1 Cr. 31.042.0/20.59.75 42.20.00 %10.6 %6.92 % 10.0
HCKK Ventures Ltd 43.5 Cr. 117154/77.4241 11.50.00 %8.17 %6.44 % 10.0
HB Portfolio Ltd 108 Cr. 101177/57.014.6 2790.99 %3.34 %2.90 % 10.0
Industry Average7,266.93 Cr2,238.7176.515,594.840.28%15.23%17.14%7.45

All Competitor Stocks of MAS Financial Services Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales150147156165180192205241261281292310340
Expenses32313131373545565960657682
Operating Profit118116125135143157160185202221227235258
OPM %79%79%80%81%79%82%78%77%78%79%78%76%76%
Other Income0000000011032
Interest69667581889597116133150150154172
Depreciation1110011111111
Profit before tax49505053556262686972778387
Tax %25%27%26%26%26%25%26%25%25%21%25%25%26%
Net Profit36363740414646515257586264
EPS in Rs2.202.222.232.392.482.782.773.063.133.433.473.733.88

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1161431852383093654776057106276909891,145
Expenses414455628292118138175143132218260
Operating Profit7599130176227273358466535485558771885
OPM %65%69%70%74%73%75%75%77%75%77%81%78%77%
Other Income-0000-0-0-2-2-30115
Interest465780113142165187225299286340498586
Depreciation1111112233233
Profit before tax2941506284106168238230196217272301
Tax %30%32%33%34%35%35%37%35%27%26%26%24%
Net Profit202733415569105155168146161206228
EPS in Rs20.1327.3120.3824.9933.8715.9519.2428.0930.6226.4129.1337.1841.28
Dividend Payout %11%13%17%19%20%20%19%18%26%6%10%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)35.00%22.22%24.24%34.15%25.45%52.17%47.62%8.39%-13.10%10.27%27.95%
Change in YoY Net Profit Growth (%)0.00%-12.78%2.02%9.90%-8.69%26.72%-4.55%-39.23%-21.48%23.37%17.68%

MAS Financial Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:21%
5 Years:16%
3 Years:27%
TTM:25%
Compounded Profit Growth
10 Years:23%
5 Years:10%
3 Years:20%
TTM:25%
Stock Price CAGR
10 Years:%
5 Years:3%
3 Years:5%
1 Year:-2%
Return on Equity
10 Years:17%
5 Years:15%
3 Years:14%
Last Year:15%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital1016161643555555555555164181
Reserves4561881222417258619321,1251,2951,4641,6192,237
Borrowings6078161,1241,4041,3111,4552,2732,7963,5134,4396,1287,4268,167
Other Liabilities1402393434056056658011,037737519369339425
Total Liabilities8021,1331,5721,9472,2002,8983,9904,8205,4306,3098,0159,54711,010
Fixed Assets664895813151214172526
CWIP00000046485052587081
Investments00000005202493791726908
Other Assets7961,1271,5671,9382,1912,8403,9324,7525,1665,7507,1498,7269,996
Total Assets8021,1331,5721,9472,2002,8983,9904,8205,4306,3098,0159,54711,010

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-80-184-267-281-164-386-468196-578-805-1,426-1,366
Cash from Investing Activity +40-2-3-4-49144-199-820-30450
Cash from Financing Activity +123200303251344388024487199231,6841,290
Net Cash Flow481634-32-1343348648-59-702-46-26

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow75.00-508.00-686.00175.00226.00272.00357.00464.00533.00482.00554.00765.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %56%49%44%45%32%20%18%18%13%13%14%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters73.60%73.62%73.64%73.71%73.72%73.72%73.72%73.72%73.72%73.72%73.72%66.63%
FIIs1.66%1.62%1.53%1.54%1.54%1.53%1.59%1.59%2.01%1.63%1.79%3.58%
DIIs10.03%9.95%9.46%9.39%10.21%11.04%11.01%10.58%8.57%8.43%14.42%20.41%
Public14.71%14.81%15.37%15.36%14.53%13.70%13.68%14.10%15.69%16.21%10.06%9.38%
No. of Shareholders25,84327,73430,49729,68125,81625,76124,76723,83728,99931,51444,54445,415

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Axis ELSS Tax Saver Fund1,454,6660.37122.71110,3222024-11-241218.56%
Axis Small Cap Fund1,216,2540.57102.6110,3222024-11-241002.46%
Bandhan Sterling Value Fund755,0000.9966.2110,3222024-11-24584.36%
Bandhan ELSS Tax Saver Fund660,0001.1557.87110,3222024-11-24498.25%
Bandhan Small Cap Fund189,4360.7516.61110,3222024-11-2471.71%
Bandhan Core Equity Fund110,3220.339.67110,3222024-11-240%
LIC MF Banking & Financial Services Fund70,1902.035.92110,3222024-11-24-36.38%
Motilal Oswal Nifty Microcap 250 Index Fund15,7300.231.33110,3222024-11-24-85.74%
Groww Nifty Total Market Index Fund400.010110,3222024-11-24-99.96%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)15.3137.1829.1426.4130.62
Diluted EPS (Rs.)15.3137.1829.1426.4130.62
Cash EPS (Rs.)15.7538.1529.8627.0931.27
Book Value[Excl.RevalReserv]/Share (Rs.)110.90282.57245.12219.57184.06
Book Value[Incl.RevalReserv]/Share (Rs.)110.90282.57245.12219.57184.06
Revenue From Operations / Share (Rs.)78.00180.72126.26114.70129.82
PBDIT / Share (Rs.)60.41140.94101.9488.4596.85
PBIT / Share (Rs.)60.15140.44101.5687.9896.33
PBT / Share (Rs.)20.7149.7039.6035.8542.13
Net Profit / Share (Rs.)15.4937.6529.4826.6230.75
NP After MI And SOA / Share (Rs.)15.3137.1929.1426.4130.62
PBDIT Margin (%)77.4477.9880.7377.1174.60
PBIT Margin (%)77.1177.7180.4376.7074.20
PBT Margin (%)26.5527.4931.3631.2532.44
Net Profit Margin (%)19.8520.8323.3423.2123.68
NP After MI And SOA Margin (%)19.6220.5723.0823.0223.58
Return on Networth / Equity (%)14.0813.3812.0912.2316.96
Return on Capital Employeed (%)53.6031.4729.1629.1845.19
Return On Assets (%)2.622.532.522.653.47
Long Term Debt / Equity (X)0.000.570.370.310.06
Total Debt / Equity (X)4.174.043.372.982.83
Asset Turnover Ratio (%)0.140.130.110.110.15
Current Ratio (X)1.221.421.411.411.30
Quick Ratio (X)1.221.421.411.411.30
Dividend Payout Ratio (NP) (%)10.559.549.430.0037.87
Dividend Payout Ratio (CP) (%)10.389.419.310.0037.24
Earning Retention Ratio (%)89.4590.4690.570.0062.13
Cash Earning Retention Ratio (%)89.6290.5990.690.0062.76
Interest Coverage Ratio (X)1.531.551.651.701.79
Interest Coverage Ratio (Post Tax) (X)1.391.411.481.511.57
Enterprise Value (Cr.)11246.279742.346514.057182.044644.95
EV / Net Operating Revenue (X)8.799.869.4411.456.55
EV / EBITDA (X)11.3512.6511.6914.858.77
MarketCap / Net Operating Revenue (X)3.654.454.247.454.05
Retention Ratios (%)89.4490.4590.560.0062.12
Price / BV (X)2.622.892.223.962.92
Price / Net Operating Revenue (X)3.654.454.247.454.05
EarningsYield0.050.040.050.030.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of MAS Financial Services Ltd as of November 25, 2024 is: 365.85

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 25, 2024, MAS Financial Services Ltd is Undervalued by 31.13% compared to the current share price 279.00

Intrinsic Value of MAS Financial Services Ltd as of November 25, 2024 is: 388.37

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 25, 2024, MAS Financial Services Ltd is Undervalued by 39.20% compared to the current share price 279.00

Last 5 Year EPS CAGR: 6.16%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in MAS Financial Services Ltd:
    1. Net Profit Margin: 19.85%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 53.6% (Industry Average ROCE: 15.23%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 14.08% (Industry Average ROE: 17.14%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.39
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.22
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 18 (Industry average Stock P/E: 76.51)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 4.17
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Mas Financial Services Ltd. is a Public Limited Listed company incorporated on 25/05/1995 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L65910GJ1995PLC026064 and registration number is 026064. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company’s Total Operating Revenue is Rs. 655.94 Cr. and Equity Capital is Rs. 54.66 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)6, Ground Floor, Narayan Chambers, Ahmedabad Gujarat 380009greivance@mas.co.in
http://www.mas.co.in
Management
NamePosition Held
Mr. Kamlesh C GandhiChairman & Managing Director
Mrs. Darshana S PandyaDirector & CEO
Mr. Dhvanil K GandhiWhole Time Director
Mr. Narayanan SadanandanInd. Non-Executive Director
Mr. Umesh R ShahInd. Non-Executive Director
Mrs. Daksha N ShahInd. Non-Executive Director
Mr. Vishal VasuInd. Non-Executive Director

FAQ

What is the latest intrinsic value of MAS Financial Services Ltd?

The latest intrinsic value of MAS Financial Services Ltd as on 24 November 2024 is ₹365.85, which is 31.13% higher than the current market price of ₹279.00.

What is the Market Cap of MAS Financial Services Ltd?

The Market Cap of MAS Financial Services Ltd is 5,063 Cr..

What is the current Stock Price of MAS Financial Services Ltd as on 24 November 2024?

The current stock price of MAS Financial Services Ltd as on 24 November 2024 is 279.

What is the High / Low of MAS Financial Services Ltd stocks in FY 2024?

In FY 2024, the High / Low of MAS Financial Services Ltd stocks is 388/266.

What is the Stock P/E of MAS Financial Services Ltd?

The Stock P/E of MAS Financial Services Ltd is 18.0.

What is the Book Value of MAS Financial Services Ltd?

The Book Value of MAS Financial Services Ltd is 133.

What is the Dividend Yield of MAS Financial Services Ltd?

The Dividend Yield of MAS Financial Services Ltd is 0.54 %.

What is the ROCE of MAS Financial Services Ltd?

The ROCE of MAS Financial Services Ltd is 11.7 %.

What is the ROE of MAS Financial Services Ltd?

The ROE of MAS Financial Services Ltd is 15.2 %.

What is the Face Value of MAS Financial Services Ltd?

The Face Value of MAS Financial Services Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in MAS Financial Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE