Mahindra & Mahindra Financial Services Limited - Business updates for January 2022

Mahindra & Mahindra Financial Services Limited has provided business updates for the month of January 2022:

In January 2022, the business continued its momentum with a disbursement of approximately Rs. 2,320 Crore delivering a 31% Y-o-Y growth. The YTD disbursement at approximately Rs. 20,700 Crore, registered a Y-o-Y growth of 40%.

The collection efficiency (CE) was at 96% for January 2022, up year-on-year (January 2021 CE was 94%), in line with expectations.

The positive trend in collections led to on a month-on-month improvement in Asset Quality. Stage 2 have shown a visible improvement and Stage 3 have remained stable.

The company expects further improvement in Stage 2 and Stage 3 numbers by end of March 2022. The Company reiterates its commitment to bring the Net Stage 3 below 4% by year end.

During January, the Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 3 months.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 160.10 as compared to the previous close of Rs. 168.75. The total number of shares traded during the day was 1296687 in over 9380 trades.

The stock hit an intraday high of Rs. 164.50 and intraday low of 156.00. The net turnover during the day was Rs. 207665278.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 532720 BusinessUpdate January2022