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Mahindra & Mahindra Financial Services Ltd.

BSE: 532720 Sector: Financials
NSE: M&MFIN ISIN Code: INE774D01024
BSE LIVE 15:00 | 22 Aug 404.45 0.75
(0.19%)
OPEN

403.95

HIGH

414.30

LOW

397.10

NSE 14:44 | 22 Aug 404.50 0.55
(0.14%)
OPEN

405.25

HIGH

414.60

LOW

397.40

OPEN 403.95
PREVIOUS CLOSE 403.70
VOLUME 183374
52-Week high 434.85
52-Week low 244.35
P/E 63.79
Mkt Cap.(Rs cr) 23,003
Buy Price 404.30
Buy Qty 704.00
Sell Price 404.90
Sell Qty 304.00
OPEN 403.95
CLOSE 403.70
VOLUME 183374
52-Week high 434.85
52-Week low 244.35
P/E 63.79
Mkt Cap.(Rs cr) 23,003
Buy Price 404.30
Buy Qty 704.00
Sell Price 404.90
Sell Qty 304.00

Mahindra & Mahindra Financial Services Ltd. (M&MFIN) - Company History

Mahindra & Mahindra Financial Services Limited (M&M FSL) a subsidiary of Mahindra & Mahindra Limited was incorporated on 1st January 1991 as Maxi Motors Financial Services Limited. One of India's leading non-banking finance companies focused on the rural and semi-urban sector the company provide finance for Utility Vehicles (UV) tractors and cars and have the largest network of branches (80% of the districts in India) covering these areas. The company's product portfolio includes right from finance for two wheelers tractors farm equipment cars and utility vehicles to commercial vehicles and construction equipment also have a group of experts providing investment advice surveying available market products and choosing the most suitable to customers' needs.M&M FSL had received certificate of commencement of business on 19th February of the year 1991. The company's name was changed from Maxi Motors Financial Services Limited to Mahindra & Mahindra Financial Services Limited on November 3 1992. During the year 1993 the company had commenced financing of M&M Utility Vehicles as part of its work. M&M FSL had opened its first branch outside Mumbai at Jaipur in the year 1995. Financing to M&M dealers for purchase of tractors was added to the company's activities in the year 1996. M&M FSL had registered with the Reserve Bank of India (RBI) as a Non Banking Finance Company (NBFC) with effect from 4th September of the year 1998. Also in the same year of 1998 the company had launched pilot project for retail tractor financing. After a year in 1999 M&M FSL had started tractor retail financing in rural and semi-urban areas. During the year 2002 apart from its parent company vehicles the company started to financing of non-M&M vehicles and also in the same year received Tier II debt from International Finance Corporation. In November of the year 2003 in recognition of its global competitiveness in terms of cost and quality M&M received the Deming Prize awarded by the Japanese Union of Scientists & Engineers. M&M is the first tractor manufacturer in the world to receive this prize. M&M FSL had received a long-term credit rating of AA+/Stable in the year 2004 and had opened a branch in Port Blair during the same year of 2004. During the year 2005 the company made tie up with Hindustan Petroleum Corporation Limited (HPCL) and formed Mahindra Insurance Brokers Ltd (MIBL) as a wholly owned subsidiary to undertake the insurance and related activities. The company had issued Initial Public Offerings (IPO) in the year of 2006. Also in the same year M&M FSL made a tie up with Maruti to provide finance to all of the latter's products launched its marketing campaign and reached a new benchmark with 400 branches. M&M FSL won the Pioneer Award in the individual category of the Enterprise Connect Award 2007 instituted by Cybermedia India Online Ltd (CIOL) and Dataquest. As part of diversification the company had forayed into the business of rural housing finance with the incorporation of Mahindra Rural Housing Finance Limited (MRHFL) on 9th April 2007 as the second wholly owned subsidiary. M&M FSL had honored with the Amity HR Excellence Award for Retention by the Amity Business School Noida in August of the year 2008.In 2010 the company added More than 2 lakh new customer contracts in a financial year for the first time. and the companies branch network also crossed 550 branches. In 2011 the company came out with a QIP Issue. The company also entered into a Joint Venture with with Rabobank subsidiary for tractor financing in USA. In 2012 the company won the inaugural porter prize in the catagory of Creating Distinctive Value and also first runners up at CNBC TV18 Best Bank & Financial Institution awards. In 2013 the company & Mahindra Finance sign MOU for Joint Venture. During 2015 the company wins the Golden Peacock National Training Award.