For a partial converse to the Master Theorem, note that if $\mathcal M[f(x)]=\Gamma(s)\varphi(-s)$ then $$f(x)=\frac1{2\pi i}\int_{c-i\infty}^{c+i\infty}x^{-s}\Gamma(s)\varphi(-s)\,ds.$$ The poles of $\Gamma$ are simple and are the non-positive integers, so the residue at an integer $-t\le0$ is $$\lim_{s\to-t}(s+t)\Gamma(s)=\lim_{s\to-t}\frac{\Gamma(s+t+1)}{\prod\limits_{i=0}^{t+1}(s+i)}=\frac{(-1)^t}{t!}.$$ Thus if $\varphi$ has no singularities and does not have roots at the non-positive integers then the residue theorem gives $$f(x)=\sum_{t\ge0}\operatorname{Res}(x^{-s}\Gamma(s)\varphi(-s),-t)=\sum_{k=0}^\infty\frac{\varphi(k)(-x)^k}{k!}$$ which is the original statement.
In Berndt's Ramanujan's Quarterly Reports1, it is noted that
In the final section of the first report, Ramanujan derives certain
expansions for four functions by assuming that a type of converse theorem to
the Master Theorem holds. More specifically, he determines a power series
for the integrand from the value of the integral. In fact, Ramanujan's converse
to the Master Theorem follows from the inversion formula for Mellin
transforms. Although Ramanujan proceeded formally, all of the results that
he obtains are, indeed, correct.
(emphasis mine)
The four functions considered are
$\left(2/(1+\sqrt{1+4x})\right)^n=p_*^{-n}$ where $p_*$ is the positive root of $p^2-p-x$, giving $\varphi(q)=n\Gamma(n+2q)/\Gamma(n+q+1)$;
$\left(x+\sqrt{1+x^2}\right)^{-n}=e^{-n\operatorname{arcsinh}x}$, giving $\varphi(q)=n2^{q-1}\Gamma((n+q)/2)/\Gamma((n-q)/2+1)$;
$\int_0^\infty a^{q-1}x^n\,da$ where $a\ge0$, $n>0$ and $x$ solves $\log x=ax$, giving $\varphi(q)=n(n+q)^{q-1}$;
$\int_0^\infty a^{r-1}x^n\,da$ where $x$ solves $aqx^p+x^q=1$ with $a>0$, $0<q<p$ and $0<pr<n$, giving $\varphi(r)=nq^{r-1}\Gamma((n+pr)/q)/\Gamma((n+pr)/q-r+1)$.
Evidently in all these cases $\varphi$ is not analytic in the whole left-plane, but I suspect the cancelling of gamma terms with $\Gamma(-s)$ may be why the identity still holds.
Reference
[1] Berndt, B. C. (1984). Ramanujan's Quarterly Reports. Bulletin of the London Mathematical Society. 16(5):449-489.