Mahindra & Mahindra Financial Services Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Mahindra & Mahindra Financial Serv. will hold a meeting of the Board of Directors of the Company on 23 April 2024.

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For Q4 FY24 disbursements grew by 11% YoY to approximately Rs 15,300 crore.

The collection efficiency (CE) for March 2024 reduced to 101% as compared to 105% registered in March 2023. During the quarter, CE stood at 98% from 99% recorded in the same period a year ago.

On full year basis, the disbursement increased by 13% YoY to around Rs 56,200 crore in FY24. CE was constant at 96% for FY24 as compared to FY23.

Healthy disbursement trends during FY24 have led to business assets at around Rs 1,02,400 crore as at 31 March 2024, a growth of about 24% over 31 March 2023 and approximately 6% over 31 December 2023.

As at 31 March 2024, Stage 3 is estimated at about 3.3% as against 4% as on 31 December 2023 and 4.5% posted as at 31 March 2023 and Stage-2 is estimated at around 5.1% from 6% both as at 31 December 2023 and 31 March 2023.

The company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over Rs 7,650 crore, the NBFC stated.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

The NBFC’s net profit fell 12.11% to Rs 552.79 crore in Q3 FY24 as against Rs 628.95 crore posted in Q3 FY23. However, total income increased 20.71% YoY to Rs 3,490.42 crore in the quarter ended 31 December 2023.

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Mahindra & Mahindra Financial Services has received credit ratings from India Ratings & Research as under:

1 Non-convertible Debentures (Rs 39000 crore) - ‘IND AAA'/ Outlook Stable
2 Retail Non-convertible Debentures (Rs 10000 crore) - ‘IND AAA'/ Outlook Stable (The rated limit is interchangeable with retail subordinated debt)
3 Private Sub Debt (Rs 3450 crore) - ‘IND AAA'/ Outlook Stable
4 Principal Protected Market Linked Debenture (Rs 1500 crore) - IND PP-MLD AAA/Stable
5 Retail Subordinate Debt (Rs 3000 crore) - ‘IND AAA'/ Outlook Stable
6 Commercial Paper (Rs 15000 crore) - IND A1+

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Mahindra & Mahindra Financial Services has received credit ratings from CRISIL as under:

Non convertible debentures (Rs 10,000 crore) - CRISIL AAA; Stable
Subordinate debt (Rs 1,000 crore) - CRISIL AAA; Stable
Commercial paper (Rs 10,000 crore) - CRISIL A1+

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