Share price
₹263.93 latest close · −18.0% over the last 90 sessions
₹263.93 month-end · −14.5% over 12 months
₹263.93 month-end · −6.1% over 3 years
₹263.93 month-end · +49.8% since Jan '19
52-week range ₹238.40 to ₹358.85 · 1-year volatility 30.6%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 17.3x to 12.2x), which took 33 points back.
- The share count barely moved.
Earnings helped, the multiple did not.
- Per-share earnings added 54 points, but investors now pay less per rupee of profit (P/E 22.7x to 12.2x), which took 60 points back.
- The share count rose 9%.
Mostly yes, with a catch.
- Per-share earnings added 97 points, but investors now pay less per rupee of profit (P/E 26.0x to 12.2x), which took 82 points back.
- The share count rose 9%.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Net profit is trailing twelve months as reported with a 60-day lag.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-62.0% (2020-02 peak to 2020-03 low, not yet recovered)
Most recent volume spikes
2026-10-07: 6.8x the 50-day median, price +1.3% that day
2026-08-31: 17x the 50-day median, price +3.4% that day
2026-08-28: 5.2x the 50-day median, price -0.4% that day
Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).
Is it expensive against its own past and its peers?
Usual range 2.2x to 4.6x since 2019-01.
6% above the Finance median.
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How to read this
Shaded band: 10th to 90th percentile of the company's own P/B history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).
Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.
Where does it rank among Finance peers?
Each cell is the company's percentile rank among its Finance peers (banks and financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Where it ranks today
- ROE (approx.)65thflat vs a year ago
- EPS growth68th▲ 11 pts vs a year ago
- P/B ↓48th▲ 5 pts vs a year ago
- 12M momentum39th▼ 21 pts vs a year ago
- FII + DII54thflat vs a year ago
Rank history
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Finance sector page Watch it move against Finance in the Observatory
What is the price implying?
At P/E of 12.2x, a holder earning 12%/yr needs earnings to grow about 8.9%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 10.2% | 11.2% | 12.2% |
| 15x | 7.9% | 8.9% | 9.8% |
| 20x | 4.9% | 5.9% | 6.8% |
Drag a slider to test other assumptions
Implied: 8.9%/yrLooking back
- Jan 2020Price implied 21%/yr; EPS has since grown 12%/yr (7.0 yrs)
- Jan 2021Price implied 18%/yr; EPS has since grown 12%/yr (6.0 yrs)
- Jan 2022Price implied 15%/yr; EPS has since grown 18%/yr (5.0 yrs)
Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.
What prices imply across Finance The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹263.93
- P/E
- 12.2x
- Market Cap
- ₹4782 cr
- Revenue (TTM)
- ₹2091 cr
- P/S
- 2.3x
- P/B
- 1.6x
- ROE
- 13.0%
- Debt / Equity
- 3.5x
- Promoter Holding
- 66.7%
- 12M Momentum
- -14.5%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Tax rate25%Within range
Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Tap a check to see how it is measured
Cash conversion and receivable days are not meaningful for banks and NBFCs, so only the other-income and tax-rate checks are shown.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 2 years, DIIs added 11.2 pts; promoters trimmed 7.1 pts; FIIs added 2.1 pts.
- The number of shareholders rose from 31,514 to 39,685 (+26%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a bank, NBFC or insurer looked like MAS FINANCIAL SERVICES LIMITED today on valuation, return on capital, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −25% to +22% vs the market, against −3% for all financial companies in the same months.
- The gap against the base rate (+5.0%, 80% range −0.7% to +10.8%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| EQUITASBNK Finance |
Mar 2022 | 15x | 1.7x | −15% | −27% | +38% |
| MAHABANK Finance |
Jul 2022 | 10x | 0.8x | −23% | −23% | +74% |
| CSBBANK Finance |
Nov 2021 | 22x | 2.2x | +10% | −23% | −28% |
| FEDFINA Finance |
May 2025 | 17x | 1.6x | −18% | −24% | +61% |
| DCBBANK Finance |
Mar 2020 | 9x | 0.9x | −54% | −61% | −40% |
Show the other 3 matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| CHOLAHLDNG Finance |
Jun 2020 | 10x | 1.1x | −37% | −47% | +37% |
| SHRIRAMFIN Finance |
Jan 2023 | 13x | 1.5x | +5% | −14% | +38% |
| CANFINHOME Finance |
Nov 2023 | 17x | 2.9x | +41% | −12% | −18% |
How reliable is this?
Matched on P/E, P/B, ROE, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Oct '21
- OctPriceVolume reached 6.8x its 50-day median on 2026-10-07; price +1.3% that day.
- AugPriceVolume reached 17.0x its 50-day median on 2026-08-31; price +3.4% that day.
- AprPriceVolume reached 16.2x its 50-day median on 2026-04-30; price +4.3% that day.
- MarValuationP/B fell below the 10th percentile of its own history to date (2.0x).
- JanPriceVolume reached 9.6x its 50-day median on 2026-01-06; price +5.5% that day.
- DecPriceVolume reached 6.3x its 50-day median on 2025-12-08; price -3.0% that day.
- JulPriceVolume reached 17.3x its 50-day median on 2025-07-16; price +9.7% that day.
- JunValuationP/B fell below the 10th percentile of its own history to date (2.2x).
Show 22 earlier events
- JunDividendDividend payout cut from 23% to 10% of profit.
- JunSharesShare count is up 10.4% over 12 months.
- MayPriceVolume reached 9.4x its 50-day median on 2025-05-07; price +2.1% that day.
- JanPriceVolume reached 6.7x its 50-day median on 2025-01-16; price +0.2% that day.
- NovValuationP/B fell below the 10th percentile of its own history to date (2.7x).
- SepPromoterPromoter holding fell 7.1 pts to 66.6%.
- JunResultsRevenue (TTM) reached a new high of ₹1,289 cr.
- JunInstitutionsFII + DII holding rose 6.2 pts over 1 quarter to 16.2%.
- JunValuationP/B fell below the 10th percentile of its own history to date (2.7x).
- AprPriceVolume reached 18.4x its 50-day median on 2024-04-25; price +3.5% that day.
- MarPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
- JanPriceVolume reached 14.7x its 50-day median on 2024-01-15; price +8.4% that day.
- OctPriceVolume reached 5.2x its 50-day median on 2023-10-13; price -0.1% that day.
- JulPriceVolume reached 39.2x its 50-day median on 2023-07-27; price +2.8% that day.
- JunResultsRevenue (TTM) reached a new high of ₹989 cr.
- AprPriceVolume reached 7.2x its 50-day median on 2023-04-18; price -3.1% that day.
- MarPriceVolume reached 5.8x its 50-day median on 2023-03-20; price +4.2% that day.
- NovPriceVolume reached 39.2x its 50-day median on 2022-11-03; price +13.1% that day.
- AugPriceVolume reached 14.7x its 50-day median on 2022-08-23; price +7.4% that day.
- JunResultsYear-on-year EPS growth turned positive.
- FebPriceVolume reached 178.5x its 50-day median on 2022-02-04; price +16.6% that day.
- OctValuationP/B fell below the 10th percentile of its own history to date (3.5x).
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Monthly history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | Debt / Equity |
|---|---|---|---|---|
| 2026-11 | 12.2x | ₹2091 cr | 13.0% | 3.5x |
| 2026-10 | 11.3x | ₹2091 cr | 13.0% | 3.5x |
| 2026-09 | 13.0x | ₹2091 cr | 13.0% | 3.5x |
| 2026-08 | 14.9x | ₹1995 cr | 13.0% | 3.5x |
| 2026-07 | 15.6x | ₹1995 cr | 13.0% | 3.5x |
| 2026-06 | 15.1x | ₹1995 cr | 13.0% | 3.5x |
| 2026-05 | 16.0x | ₹1892 cr | 14.0% | 3.5x |
| 2026-04 | 17.6x | ₹1892 cr | 14.0% | 3.5x |
| 2026-03 | 14.5x | ₹1892 cr | 14.0% | 3.5x |
| 2026-02 | 17.4x | ₹1795 cr | 14.0% | 3.5x |
| 2026-01 | 17.5x | ₹1795 cr | 14.0% | 3.5x |
| 2025-12 | 17.4x | ₹1795 cr | 14.0% | 3.5x |
| 2025-11 | 17.3x | ₹1699 cr | 14.0% | 3.5x |
| 2025-10 | 17.1x | ₹1699 cr | 14.0% | 3.5x |
| 2025-09 | 16.9x | ₹1699 cr | 14.0% | 3.5x |
| 2025-08 | 18.1x | ₹1597 cr | 14.0% | 3.5x |
| 2025-07 | 18.0x | ₹1597 cr | 14.0% | 3.5x |
| 2025-06 | 18.0x | ₹1597 cr | 14.0% | 3.5x |
| 2025-05 | 17.5x | ₹1505 cr | 15.0% | 4.2x |
| 2025-04 | 15.9x | ₹1505 cr | 15.0% | 4.2x |
| 2025-03 | 14.7x | ₹1505 cr | 15.0% | 4.2x |
| 2025-02 | 14.3x | ₹1430 cr | 15.0% | 4.2x |
| 2025-01 | 15.6x | ₹1430 cr | 15.0% | 4.2x |
| 2024-12 | 16.9x | ₹1430 cr | 15.0% | 4.2x |
| 2024-11 | 17.6x | ₹1356 cr | 15.0% | 4.2x |
| 2024-10 | 18.2x | ₹1356 cr | 15.0% | 4.2x |
| 2024-09 | 18.5x | ₹1356 cr | 15.0% | 4.2x |
| 2024-08 | 19.0x | ₹1289 cr | 15.0% | 4.2x |
| 2024-07 | 18.8x | ₹1289 cr | 15.0% | 4.2x |
| 2024-06 | 19.2x | ₹1289 cr | 15.0% | 4.2x |
| 2024-05 | 23.3x | ₹989 cr | 14.0% | 4.0x |
| 2024-04 | 24.1x | ₹989 cr | 14.0% | 4.0x |
| 2024-03 | 22.9x | ₹989 cr | 14.0% | 4.0x |
| 2024-02 | 27.2x | ₹989 cr | 14.0% | 4.0x |
| 2024-01 | 26.8x | ₹989 cr | 14.0% | 4.0x |
| 2023-12 | 23.4x | ₹989 cr | 14.0% | 4.0x |
| 2023-11 | 22.7x | ₹989 cr | 14.0% | 4.0x |
| 2023-10 | 23.6x | ₹989 cr | 14.0% | 4.0x |
| 2023-09 | 24.3x | ₹989 cr | 14.0% | 4.0x |
| 2023-08 | 22.0x | ₹989 cr | 14.0% | 4.0x |
| 2023-07 | 21.2x | ₹989 cr | 14.0% | 4.0x |
| 2023-06 | 20.9x | ₹989 cr | 14.0% | 4.0x |
| 2023-05 | 25.3x | ₹690 cr | 13.0% | 3.3x |
| 2023-04 | 24.0x | ₹690 cr | 13.0% | 3.3x |
| 2023-03 | 27.5x | ₹690 cr | 13.0% | 3.3x |
| 2023-02 | 28.0x | ₹690 cr | 13.0% | 3.3x |
| 2023-01 | 27.3x | ₹690 cr | 13.0% | 3.3x |
| 2022-12 | 27.8x | ₹690 cr | 13.0% | 3.3x |
| 2022-11 | 29.2x | ₹690 cr | 13.0% | 3.3x |
| 2022-10 | 26.3x | ₹690 cr | 13.0% | 3.3x |
| 2022-09 | 25.4x | ₹690 cr | 13.0% | 3.3x |
| 2022-08 | 25.8x | ₹690 cr | 13.0% | 3.3x |
| 2022-07 | 18.5x | ₹690 cr | 13.0% | 3.3x |
| 2022-06 | 17.0x | ₹690 cr | 13.0% | 3.3x |
| 2022-05 | 20.6x | ₹627 cr | 13.0% | 3.0x |
| 2022-04 | 24.2x | ₹627 cr | 13.0% | 3.0x |
| 2022-03 | 20.3x | ₹627 cr | 13.0% | 3.0x |
| 2022-02 | 21.5x | ₹627 cr | 13.0% | 3.0x |
| 2022-01 | 18.6x | ₹627 cr | 13.0% | 3.0x |
| 2021-12 | 23.9x | ₹627 cr | 13.0% | 3.0x |
| 2021-11 | 26.0x | ₹627 cr | 13.0% | 3.0x |
| 2021-10 | 28.4x | ₹627 cr | 13.0% | 3.0x |
| 2021-09 | 29.5x | ₹627 cr | 13.0% | 3.0x |
| 2021-08 | 29.1x | ₹627 cr | 13.0% | 3.0x |
| 2021-07 | 30.8x | ₹627 cr | 13.0% | 3.0x |
| 2021-06 | 32.5x | ₹627 cr | 13.0% | 3.0x |
| 2021-05 | 30.4x | ₹710 cr | 18.0% | 2.8x |
| 2021-04 | 26.0x | ₹710 cr | 18.0% | 2.8x |
| 2021-03 | 27.9x | ₹710 cr | 18.0% | 2.8x |
| 2021-02 | 28.6x | ₹710 cr | 18.0% | 2.8x |
| 2021-01 | 29.0x | ₹710 cr | 18.0% | 2.8x |
| 2020-12 | 30.3x | ₹710 cr | 18.0% | 2.8x |
| 2020-11 | 34.2x | ₹710 cr | 18.0% | 2.8x |
| 2020-10 | 26.9x | ₹710 cr | 18.0% | 2.8x |
| 2020-09 | 25.9x | ₹710 cr | 18.0% | 2.8x |
| 2020-08 | 26.7x | ₹710 cr | 18.0% | 2.8x |
| 2020-07 | 21.0x | ₹710 cr | 18.0% | 2.8x |
| 2020-06 | 21.6x | ₹710 cr | 18.0% | 2.8x |
| 2020-05 | 20.4x | ₹605 cr | 18.0% | 2.5x |
| 2020-04 | 22.1x | ₹605 cr | 18.0% | 2.5x |
| 2020-03 | 18.7x | ₹605 cr | 18.0% | 2.5x |
| 2020-02 | 37.0x | ₹605 cr | 18.0% | 2.5x |
| 2020-01 | 35.1x | ₹605 cr | 18.0% | 2.5x |
| 2019-12 | 30.9x | ₹605 cr | 18.0% | 2.5x |
| 2019-11 | 25.4x | ₹605 cr | 18.0% | 2.5x |
| 2019-10 | 25.7x | ₹605 cr | 18.0% | 2.5x |
| 2019-09 | 24.6x | ₹605 cr | 18.0% | 2.5x |
| 2019-08 | 20.9x | ₹605 cr | 18.0% | 2.5x |
| 2019-07 | 20.9x | ₹605 cr | 18.0% | 2.5x |
| 2019-06 | 21.7x | ₹605 cr | 18.0% | 2.5x |
| 2019-05 | 27.6x | ₹477 cr | 20.0% | 1.9x |
| 2019-04 | 31.1x | ₹477 cr | 20.0% | 1.9x |
| 2019-03 | 29.3x | ₹477 cr | 20.0% | 1.9x |
| 2019-02 | 28.6x | ₹477 cr | 20.0% | 1.9x |
| 2019-01 | 27.5x | ₹477 cr | 20.0% | 1.9x |