Mahindra & Mahindra Financial Services Limited - Updates for the month of June 2024

Mahindra & Mahindra Financial Services Limited has announced the following updates for the month of June 2024:

In June 2024, we estimate the overall disbursement at approximately Rs. 4,370 crore delivering a 3% Y-o-Y growth. Q1FY25 disbursement at about Rs. 12,730 crore, registered a growth of 5% Y-o-Y.

Business Assets at approximately Rs. 1,06,200 crore grew by ~4% over March 2024 and ~22% over June 2023.

The Collection Efficiency (CE) was at 95% for June 2024 (against 96% for June 2023). For Q1FY25, the CE is estimated at 94% (PY: 94%).

As at June 30, 2024, Stage-3 is estimated at about 3.6% (vs. 4.3% as at June 30, 2023 and 3.4% as at March 31, 2024) and Stage-2 is estimated at around 6.1% (vs. 6.4% as at June 30, 2023 and 5.0% as at March 31, 2024).

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over Rs. 8,000 crore.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 303.35 as compared to the previous close of Rs. 302.20. The total number of shares traded during the day was 185272 in over 2663 trades.

The stock hit an intraday high of Rs. 304.70 and intraday low of 289.00. The net turnover during the day was Rs. 55321251.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 MahindraFinance BusinessUpdates June2024