{"id":301638,"date":"2026-10-12T11:53:03","date_gmt":"2026-10-12T06:23:03","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=301638"},"modified":"2026-10-12T11:53:03","modified_gmt":"2026-10-12T06:23:03","slug":"tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/","title":{"rendered":"3 Tractor and Rural Vehicle Finance Stocks With a Strong Future Roadmap: Cholamandalam Investment and Finance Company, Mahindra &#038; Mahindra Financial Services and MAS Financial Services"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Chola Rs 1,587.60, P\/E 22.95. Mahindra Finance Rs 319.45, P\/E 13.25. MAS Financial Rs 266.70, P\/E 11.93. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Tractor and rural vehicle finance stocks with the clearest long-term roadmaps today include Chola in vehicle and home equity loan franchise, Mahindra Finance in tractor and rural vehicle loan network and MAS Financial in small-ticket loan franchise. FY26 revenue growth was 20.6% at Chola, 13.8% at Mahindra Finance and 25.1% at MAS Financial. P\/E stands at 22.95 for Chola (industry 17.72), 13.25 for Mahindra Finance (industry 17.72) and 11.93 for MAS Financial (industry 17.72). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Tractor and rural vehicle finance stocks give investors exposure to loans for tractors, vehicles and small businesses in rural and semi-urban India. Disbursements, collections and funding costs decide how much of that demand turns into profit.<\/p>\n<p>This list covers three tractor and rural vehicle finance stocks: Cholamandalam Investment and Finance Company for vehicle and home equity loan franchise, Mahindra &amp; Mahindra Financial Services for tractor and rural vehicle loan network and MAS Financial Services for small-ticket loan franchise. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#What_Are_Tractor_and_Rural_Vehicle_Finance_Stocks\" title=\"What Are Tractor and Rural Vehicle Finance Stocks?\">What Are Tractor and Rural Vehicle Finance Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Tractor_and_Rural_Vehicle_Finance_Stocks_at_a_Glance\" title=\"Tractor and Rural Vehicle Finance Stocks at a Glance\">Tractor and Rural Vehicle Finance Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Why_Do_Tractor_and_Rural_Vehicle_Finance_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Tractor and Rural Vehicle Finance Stocks Have a Strong Roadmap in India?\">Why Do Tractor and Rural Vehicle Finance Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Cholamandalam_Investment_and_Finance_Company_Vehicle_and_Small_Business_Loans_Anchor_the_Roadmap\" title=\"Cholamandalam Investment and Finance Company: Vehicle and Small Business Loans Anchor the Roadmap\">Cholamandalam Investment and Finance Company: Vehicle and Small Business Loans Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Mahindra_Mahindra_Financial_Services_Rural_Vehicle_and_Tractor_Loans_Build_the_Next_Leg\" title=\"Mahindra &amp; Mahindra Financial Services: Rural Vehicle and Tractor Loans Build the Next Leg\">Mahindra &amp; Mahindra Financial Services: Rural Vehicle and Tractor Loans Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#MAS_Financial_Services_Small-Ticket_Loans_Drive_the_Pipeline\" title=\"MAS Financial Services: Small-Ticket Loans Drive the Pipeline\">MAS Financial Services: Small-Ticket Loans Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Best_Tractor_and_Rural_Vehicle_Finance_Stocks_in_India_Chola_vs_Mahindra_Finance_vs_MAS_Financial_on_Key_Financials\" title=\"Best Tractor and Rural Vehicle Finance Stocks in India: Chola vs Mahindra Finance vs MAS Financial on Key Financials\">Best Tractor and Rural Vehicle Finance Stocks in India: Chola vs Mahindra Finance vs MAS Financial on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#How_to_Evaluate_Tractor_and_Rural_Vehicle_Finance_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Tractor and Rural Vehicle Finance Stocks to Buy Before You Invest\">How to Evaluate Tractor and Rural Vehicle Finance Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Risks_to_Consider_Before_Investing_in_Tractor_and_Rural_Vehicle_Finance_Stocks\" title=\"Risks to Consider Before Investing in Tractor and Rural Vehicle Finance Stocks\">Risks to Consider Before Investing in Tractor and Rural Vehicle Finance Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#FAQs_on_Tractor_and_Rural_Vehicle_Finance_Stocks\" title=\"FAQs on Tractor and Rural Vehicle Finance Stocks\">FAQs on Tractor and Rural Vehicle Finance Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Which_are_the_best_tractor_and_rural_vehicle_finance_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best tractor and rural vehicle finance stocks in India with a strong roadmap?\">Which are the best tractor and rural vehicle finance stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Is_Cholamandalam_Investment_and_Finance_Company_a_good_stock_to_buy_now\" title=\"Is Cholamandalam Investment and Finance Company a good stock to buy now?\">Is Cholamandalam Investment and Finance Company a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#What_is_the_PE_ratio_of_Chola_Mahindra_Finance_and_MAS_Financial\" title=\"What is the P\/E ratio of Chola, Mahindra Finance and MAS Financial?\">What is the P\/E ratio of Chola, Mahindra Finance and MAS Financial?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Which_of_these_tractor_and_rural_vehicle_finance_stocks_has_the_highest_return_on_equity\" title=\"Which of these tractor and rural vehicle finance stocks has the highest return on equity?\">Which of these tractor and rural vehicle finance stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#What_are_the_risks_of_investing_in_tractor_and_rural_vehicle_finance_stocks\" title=\"What are the risks of investing in tractor and rural vehicle finance stocks?\">What are the risks of investing in tractor and rural vehicle finance stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#How_did_Chola_Mahindra_Finance_and_MAS_Financial_perform_in_Q1_FY27\" title=\"How did Chola, Mahindra Finance and MAS Financial perform in Q1 FY27?\">How did Chola, Mahindra Finance and MAS Financial perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#Do_tractor_and_rural_vehicle_finance_stocks_pay_dividends\" title=\"Do tractor and rural vehicle finance stocks pay dividends?\">Do tractor and rural vehicle finance stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/tractor-and-rural-vehicle-finance-stocks-long-term-growth-picks\/#How_can_I_invest_in_tractor_and_rural_vehicle_finance_stocks_in_India\" title=\"How can I invest in tractor and rural vehicle finance stocks in India?\">How can I invest in tractor and rural vehicle finance stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Tractor_and_Rural_Vehicle_Finance_Stocks\"><\/span><strong>What Are Tractor and Rural Vehicle Finance Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tractor and rural vehicle finance stocks are shares of companies that lend against tractors, vehicles and small business assets. Results depend on loan growth, funding costs and collections, so funding costs and asset quality separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tractor_and_Rural_Vehicle_Finance_Stocks_at_a_Glance\"><\/span><strong>Tractor and Rural Vehicle Finance Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three tractor and rural vehicle finance stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/cholafin\/cholamandalam-investment-finance-company-ltd-share-price-today\">Cholamandalam Investment and Finance Company<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,587.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">131,995<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.18%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/m&#038;mfin\/mahindra-mahindra-financial-services-ltd-share-price-today\">Mahindra &amp; Mahindra Financial Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">319.45<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43,186<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.25<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.72%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.82<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/masfin\/mas-financial-services-ltd-share-price-today\">MAS Financial Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">266.70<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,765<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.93<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.48%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.47<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among farm and vehicle loan stocks, Chola trades at a premium to the industry P\/E, while Mahindra Finance and MAS Financial trade at a discount.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Tractor_and_Rural_Vehicle_Finance_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Tractor and Rural Vehicle Finance Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tractor and rural vehicle finance stocks have a strong roadmap in India because farm incomes, vehicle purchases and small business credit needs keep growing outside the large cities. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Farm and rural demand:<\/strong> Tractor and utility vehicle purchases are often financed by non-bank lenders.<\/li>\n<li><strong>Local reach:<\/strong> Branch networks help lenders assess borrowers who lack formal income records.<\/li>\n<li><strong>Small-ticket credit:<\/strong> Small business owners still depend on smaller loans from specialised lenders.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Cholamandalam_Investment_and_Finance_Company_Vehicle_and_Small_Business_Loans_Anchor_the_Roadmap\"><\/span><strong>Cholamandalam Investment and Finance Company: Vehicle and Small Business Loans Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chola&#8217;s roadmap rests on vehicle finance, home equity and small business loans delivered through a wide branch network, with demand for commercial vehicle and small business credit supporting loan growth.<\/p>\n<p>Revenue grew from Rs 10,231.81 crore in FY22 to Rs 31,538.73 crore in FY26, a 208.2% rise, and FY26 revenue was 20.6% higher than FY25. FY26 net profit rose 22.7% to Rs 5,228.88 crore. Over four years, net profit rose from Rs 2,158.89 crore in FY22 to Rs 5,228.88 crore. In Q1 FY27, revenue grew 21.8% to Rs 8,956.68 crore.<\/p>\n<p>Debt to equity is 6.93 and return on equity is 17.18%. Chola paid a dividend of Rs 2 per share for FY26, a yield of 0.13%. At a P\/E of 22.95 against an industry P\/E of 17.72, the stock trades above its industry multiple.<\/p>\n<p>What to watch: The P\/E of 22.95 is a modest premium to the industry P\/E of 17.72, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mahindra_Mahindra_Financial_Services_Rural_Vehicle_and_Tractor_Loans_Build_the_Next_Leg\"><\/span><strong>Mahindra &amp; Mahindra Financial Services: Rural Vehicle and Tractor Loans Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mahindra Finance&#8217;s roadmap rests on tractor, auto, utility vehicle and small business loans in rural and semi-urban India, with rural demand and a wide branch network supporting disbursements.<\/p>\n<p>Revenue grew from Rs 11,400.51 crore in FY22 to Rs 21,086.73 crore in FY26, an 85.0% rise, and FY26 revenue was 13.8% higher than FY25. FY26 net profit rose 26.5% to Rs 2,861.11 crore. Over four years, net profit rose from Rs 1,150.34 crore in FY22 to Rs 2,861.11 crore. In Q1 FY27, revenue grew 14.2% to Rs 5,724.81 crore.<\/p>\n<p>Debt to equity is 4.82 and return on equity is 10.72%. Mahindra Finance paid a dividend of Rs 7.5 per share for FY26, a yield of 2.41%. At a P\/E of 13.25 against an industry P\/E of 17.72, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 13.25 against an industry P\/E of 17.72 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MAS_Financial_Services_Small-Ticket_Loans_Drive_the_Pipeline\"><\/span><strong>MAS Financial Services: Small-Ticket Loans Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MAS Financial&#8217;s roadmap rests on small-ticket loans to small businesses, two-wheeler buyers, commercial vehicle owners and home buyers, with a granular loan book supporting growth.<\/p>\n<p>Revenue grew from Rs 691.17 crore in FY22 to Rs 2,002.27 crore in FY26, a 189.7% rise, and FY26 revenue was 25.1% higher than FY25. FY26 net profit rose 19.7% to Rs 375.82 crore. Over four years, net profit rose from Rs 161.20 crore in FY22 to Rs 375.82 crore. In Q1 FY27, revenue grew 20.4% to Rs 561.92 crore, and net profit rose 27.2% to Rs 110.15 crore.<\/p>\n<p>Debt to equity is 3.47 and return on equity is 12.48%. MAS Financial paid a dividend of Rs 2 per share for FY26, a yield of 0.76%. At a P\/E of 11.93 against an industry P\/E of 17.72, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 11.93 against an industry P\/E of 17.72 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Tractor_and_Rural_Vehicle_Finance_Stocks_in_India_Chola_vs_Mahindra_Finance_vs_MAS_Financial_on_Key_Financials\"><\/span><strong>Best Tractor and Rural Vehicle Finance Stocks in India: Chola vs Mahindra Finance vs MAS Financial on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best tractor and rural vehicle finance stocks in India, Chola leads on Q1 FY27 revenue growth and return on equity; Mahindra Finance leads on FY26 net profit growth and dividend yield; MAS Financial leads on FY26 revenue growth and the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Chola<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Mahindra Finance<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">MAS Financial<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">31,538.73<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21,086.73<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,002.27<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,228.88<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,861.11<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">375.82<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.18%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.72%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.48%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.25<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.93<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.82<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.47<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.13%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.41%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.76%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Lender earnings follow loan growth, funding costs and collections, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Tractor_and_Rural_Vehicle_Finance_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Tractor and Rural Vehicle Finance Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen tractor and rural vehicle finance stocks and shortlist tractor and rural vehicle finance stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which is 17.72 for all three here.<\/li>\n<li>Check the cost of funds against lending yields, because that spread decides profit.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read loan growth against funding costs to see how growth is financed.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these tractor and rural vehicle finance stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Tractor_and_Rural_Vehicle_Finance_Stocks\"><\/span><strong>Risks to Consider Before Investing in Tractor and Rural Vehicle Finance Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Monsoon and farm income:<\/strong> A weak monsoon can slow collections in rural portfolios.<\/li>\n<li><strong>Rate cycles:<\/strong> Changes in policy rates can move borrowing costs and spreads.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Chola, Mahindra Finance and MAS Financial live.<\/em><\/p>\n<p>Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three farm and vehicle loan stocks cover vehicle finance, tractor loans and small-ticket lending. Chola leads on Q1 FY27 revenue growth and return on equity; Mahindra Finance leads on FY26 net profit growth and dividend yield; MAS Financial leads on FY26 revenue growth and the lowest P\/E.<\/p>\n<p>Across tractor and rural vehicle finance stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the tractor and rural vehicle finance stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Tractor_and_Rural_Vehicle_Finance_Stocks\"><\/span><strong>FAQs on Tractor and Rural Vehicle Finance Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_tractor_and_rural_vehicle_finance_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best tractor and rural vehicle finance stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cholamandalam Investment and Finance Company, Mahindra &amp; Mahindra Financial Services and MAS Financial Services stand out for their roadmaps in vehicle finance, tractor loans and small-ticket lending. FY26 revenue growth was 20.6% at Chola, 13.8% at Mahindra Finance and 25.1% at MAS Financial, and return on equity ranges from 10.72% to 17.18%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Cholamandalam_Investment_and_Finance_Company_a_good_stock_to_buy_now\"><\/span><strong>Is Cholamandalam Investment and Finance Company a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cholamandalam Investment and Finance Company has a debt to equity ratio of 6.93, a return on equity of 17.18% and a P\/E of 22.95 against an industry P\/E of 17.72. Valuation, funding costs and rural cash flows move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Chola_Mahindra_Finance_and_MAS_Financial\"><\/span><strong>What is the P\/E ratio of Chola, Mahindra Finance and MAS Financial?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 22.95 for Chola (industry 17.72), 13.25 for Mahindra Finance (industry 17.72) and 11.93 for MAS Financial (industry 17.72). Only Chola trades at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_tractor_and_rural_vehicle_finance_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these tractor and rural vehicle finance stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cholamandalam Investment and Finance Company has the highest return on equity at 17.18%, followed by MAS Financial Services at 12.48% and Mahindra &amp; Mahindra Financial Services at 10.72%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_tractor_and_rural_vehicle_finance_stocks\"><\/span><strong>What are the risks of investing in tractor and rural vehicle finance stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are monsoon and farm income, rate cycles and quarterly trends. A weak monsoon can slow collections in rural portfolios.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Chola_Mahindra_Finance_and_MAS_Financial_perform_in_Q1_FY27\"><\/span><strong>How did Chola, Mahindra Finance and MAS Financial perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cholamandalam Investment and Finance Company reported revenue of Rs 8,956.68 crore, up 21.8% year on year. Mahindra &amp; Mahindra Financial Services reported revenue of Rs 5,724.81 crore, up 14.2% year on year. MAS Financial Services reported revenue of Rs 561.92 crore, up 20.4% year on year, and net profit rose 27.2% to Rs 110.15 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_tractor_and_rural_vehicle_finance_stocks_pay_dividends\"><\/span><strong>Do tractor and rural vehicle finance stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 0.13% for Chola, 2.41% for Mahindra Finance and 0.76% for MAS Financial, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_tractor_and_rural_vehicle_finance_stocks_in_India\"><\/span><strong>How can I invest in tractor and rural vehicle finance stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy tractor and rural vehicle finance stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best tractor and rural vehicle finance stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Cholamandalam Investment and Finance Company, Mahindra & Mahindra Financial Services and MAS Financial Services stand out for their roadmaps in vehicle finance, tractor loans and small-ticket lending. 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Only Chola trades at or above the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these tractor and rural vehicle finance stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Cholamandalam Investment and Finance Company has the highest return on equity at 17.18%, followed by MAS Financial Services at 12.48% and Mahindra & Mahindra Financial Services at 10.72%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in tractor and rural vehicle finance stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are monsoon and farm income, rate cycles and quarterly trends. A weak monsoon can slow collections in rural portfolios.\"}},{\"@type\":\"Question\",\"name\":\"How did Chola, Mahindra Finance and MAS Financial perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Cholamandalam Investment and Finance Company reported revenue of Rs 8,956.68 crore, up 21.8% year on year. 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Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cholamandalam Investment and Finance Company, Mahindra &#038; Mahindra Financial Services and MAS Financial Services compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":36,"featured_media":301637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[10579,10963,11115,11116],"class_list":["post-301638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-cholamandalam-investment-and-finance-company","tag-mas-financial-services","tag-tractor-and-rural-vehicle-finance-stocks","tag-tractor-and-rural-vehicle-finance-stocks-to-buy"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["301637"],"rank_math_title":["Tractor and Rural Vehicle Finance Stocks"],"rank_math_description":["Tractor and rural vehicle finance stocks with a strong roadmap: Chola, Mahindra Finance and MAS Financial compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["tractor and rural vehicle finance stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-tractor-and-rural-vehicle-finance-stocks-with-a-strong-future-roadmap.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=301638"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301638\/revisions"}],"predecessor-version":[{"id":301639,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301638\/revisions\/301639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/301637"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=301638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=301638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=301638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}