Mahindra Finance vaults as disbursements rise 14% YoY in November

Mahindra & Mahindra Financial Services advanced 3.18% to Rs 162.40 after the company said that its disbursements have risen by 17% YoY to Rs 2,500 crore.

The collection efficiency improved further to 94%, up both year-on-year (November 2020 - collection efficiency was 84%) and sequentially (October 2021 - collection efficiency was 91%).

This improved customer payment behaviour has reflected in a month-on-month reduction in Stage 2 and stability in Stage 3, compared to October 2021.

The company expects this positive trend to continue in December. This will aid in further reduction in Stage 2 and Stage 3 contracts by December end.

 

The company continued to enjoy a comfortable liquidity position on its balance sheet as at November 2021 end, with a liquidity chest of well over 3.5 months.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is a non-banking finance company. The company is a vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits and is focused on the rural and semi-urban sector.

The company's consolidated net profit surged 1,099.78 crore in Q2 FY22 from Rs 351.35 crore in Q2 FY21. Total income fell 2.9% to Rs 2,982.62 crore during the quarter.

Powered by Capital Market - Live News