Mahindra & Mahindra Financial Services updates on business for February 2022

Mahindra & Mahindra Financial Services Limited has announced business updates for the month of February 2022.

In February 2022, the business continued its momentum with a disbursement of approximately Rs. 2,733 Crore delivering a 44% Y-o-Y growth. The YTD disbursement at approximately Rs. 23,632 Crore, registered a Y-o-Y growth of 42%. The collection efficiency (CE) was at 98% for February 2022, same as February 2021. This was in line with expectations. The positive trend in collections led to on a month-on-month improvement in Asset Quality. Stage 2 and Stage 3 have shown a visible improvement. The company expects further improvement in Stage 2 and Stage 3 numbers by end of March 2022. The Company is confident of meeting its commitment to bring the Net Stage 3 below 4% by year end. During February, 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. 143.35 as compared to the previous close of Rs. 145.25. The total number of shares traded during the day was 270237 in over 3072 trades.

The stock hit an intraday high of Rs. 145.25 and intraday low of 141.65. The net turnover during the day was Rs. 38773433.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 BusinessUpdate February2022