Mahindra & Mahindra Financial Services Ltd - Updates for the month of March 2024

Mahindra & Mahindra Financial Services Limited has announced the business updates for the month of March 2024:

In March 2024, we estimate the overall disbursement at approximately Rs. 6,100 crores, delivering a 9% growth over previous year. The Q4 FY24 disbursements at about Rs. 15,300 crores registered a growth of 11% Y-o-Y and for the full year disbursement at approximately Rs. 56,200 crores registered a growth of 13% Y-o-Y.

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

The Collection Efficiency ("CE") was at 101% for March 2024 (In March 2023, CE was 105%). For Q4 FY24, the CE is estimated at 98% (PY: 99%) and for the full year at 96% (FY23: 96%).

As at March 31, 2024, Stage-3 is estimated at about 3.3% (vs. 4.0% as at December 31, 2023 and 4.5% as at March 31, 2023) and Stage-2 is estimated at around 5.1% (vs. 6.0% both as at December 31, 2023 and March 31, 2023).

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over Rs. 7,650 crores.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 296.05 as compared to the previous close of Rs. 286.85. The total number of shares traded during the day was 520326 in over 5531 trades.

The stock hit an intraday high of Rs. 299.10 and intraday low of 285.00. The net turnover during the day was Rs. 152217924.00.

Source : Equity Bulls

Keywords

MahindraandMahindraFinancialServices INE774D01024 NBFC BusinessUpdate March2024