MAS Financial Services Limited (MFSL) announced that Acuite Ratings & Research Limited has reaffirmed its long-term credit rating of 'ACUITE AA' with a 'Stable' outlook on the company's various instruments. This includes reaffirmation on Rs. 6,750 crore of bank loan facilities and Rs. 350 crore of non-convertible debentures. Additionally, a new rating of 'ACUITE AA' with a 'Stable' outlook has been assigned to proposed debentures worth Rs. 100 crore. Acuite has also withdrawn its rating on Rs. 250 crore of proposed bank loan facilities at the issuer's request. The reaffirmation is driven by MFSL's sustained growth in Assets Under Management (AUM), an improved earning profile, and healthy capitalization levels. The consolidated AUM increased to Rs. 15,303.86 crore as of March 31, 2026, from Rs. 12,867.91 crore as of March 31, 2025. Consolidated Profit After Tax (PAT) grew to Rs. 375.82 crore for FY26 from Rs. 313.98 crore in FY25. The company's Capital Adequacy Ratio (CAR) stood at 22.84% as of March 31, 2026. The rating also factors in the company's strong resource-raising ability, diversified funding profile with relationships across over 40 lenders, and healthy liquidity buffers. However, the rating is constrained by the scale of operations and portfolio concentration in three states (~60.62% of AUM) and within the Retail Asset Channel (RAC) portfolio, particularly micro-enterprise loans.
