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Posted On : 2020-05-15 18:44:35( TIMEZONE : IST )
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. has reported financial results for the period ended March 31, 2020.
Financial Results (Q4 FY19-20) - QoQ Comparison
The company has reported total income of Rs.3140.24 crores during the period ended March 31, 2020 as compared to Rs.3081.30 crores during the period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.234.81 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.471.64 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.3.81 for the period ended March 31, 2020 as compared to Rs.7.66 for the period ended December 31, 2019.
| Financials | Q4 FY19-20 | Q3 FY19-20 | % Change |
| Total Income | ₹ 3140.24 crs | ₹ 3081.30 crs |  1.91% |
| Net Profit | ₹ 234.81 crs | ₹ 471.64 crs |  -50.21% |
| EPS | ₹ 3.81 | ₹ 7.66 | -50.26% |
Financial Results (Q4 FY19-20) - YoY Comparison
The company has reported total income of Rs.3140.24 crores during the period ended March 31, 2020 as compared to Rs.2902.37 crores during the period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.234.81 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.686.42 crores for the period ended March 31, 2019.
The company has reported EPS of Rs.3.81 for the period ended March 31, 2020 as compared to Rs.11.14 for the period ended March 31, 2019.
| Financials | Q4 FY19-20 | Q4 FY18-19 | % Change |
| Total Income | ₹ 3140.24 crs | ₹ 2902.37 crs | 8.2% |
| Net Profit | ₹ 234.81 crs | ₹ 686.42 crs | -65.79% |
| EPS | ₹ 3.81 | ₹ 11.14 | -65.8% |
Financial Results (12 months ended FY 19-20) - YoY Comparison
The company has reported total income of Rs.11996.45 crores during the 12 months period ended March 31, 2020 as compared to Rs.10430.85 crores during the 12 months period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.1075.14 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.1827.29 crores for the 12 months period ended March 31, 2019.
The company has reported EPS of Rs.17.44 for the 12 months period ended March 31, 2020 as compared to Rs.29.67 for the 12 months period ended March 31, 2019.
| Financials | Year Ended FY19-20 | Year Ended FY18-19 | % Change |
| Total Income | ₹ 11996.45 crs | ₹ 10430.85 crs | 15.01% |
| Net Profit | ₹ 1075.14 crs | ₹ 1827.29 crs | -41.16% |
| EPS | ₹ 17.44 | ₹29.67 | -41.22% |
The Company continues to be leading financer for automotive and tractors including pre-owned vehicle segment, in rural & semi urban markets. During the financial year ended March 31, 2020, the total value of assets financed was Rs. 42,388 Crores as against Rs. 46,210 Crores during the corresponding period last year, a decline of 8% over the same period previous year. While the company has gained market share in many of the product lines, however in view of declining sales of Vehicles and Tractors, the disbursements have been lower.
The outbreak of COVID-19 pandemic has resulted in further slowdown in economic activities across the country, which even otherwise was on a slow pace. As an organization, we have been strictly adhering to social distancing norms and lockdown announcements by the government, on account of this we had impacts on business and recovery in the last quarter of the financial year.
Impairment provisioning is done as per Expected Credit Loss (ECL) method in lnd AS, which requires provisioning in three stages. The Gross Stage 3 levels stood at 8.44% for the year ended March 31, 2020, against 6.45% during the corresponding period last year. The Net Stage 3 levels stood at to 5.98% for the period ended March 31, 2020, from 5.28% during the corresponding period last year. The Stage 3 provisioning coverage ratio stood at 31.0%.
Based on the economic package being announced by the government, post lockdown we expect business to start in a phased manner. Demand may gradually start with dealers selling smaller vehicles and tractors.
The Company has started operations in a phased manner in 524 branches in green and amber zones in the month of May 2020, following all safety measures.
The Company continued its effort through the year to improve Asset Quality and has complied with the prudential guidelines issued by the Reserve Bank of India and has also been making accelerated provision.
The Company's capital and debt position is strong and the ALM position is well balanced.
The Board after a detailed discussion, decided to conserve capital given the current situation and did not recommend any dividend for the year.
The Standalone Assets Under Management (AUM) stood at Rs. 77,160 Crores as on March 31, 2020, as against Rs. 68,948 Crores as on corresponding date last year, registering a growth of 12%.
Shares of MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.168.4 as compared to the previous close of Rs. 168.4. The total number of shares traded during the day was 310495 in over 3918 trades.
The stock hit an intraday high of Rs. 171.15 and intraday low of 165.2. The net turnover during the day was Rs. 52214757.
