Mahindra & Mahindra Financial Services Ltd continues business momentum in October 2021

In October 2021, the business continued its momentum with a disbursement of ~ Rs. 2,650 Crore delivering ~20% YoY growth. Historically, the collection efficiency in October, given the festival spends and pre-harvest spends, is lower. In October 2021, collection efficiency was reported at ~91%. While this was lower compared to Q2 FY22, it is ahead of October 2020 collection efficiency of 82%.

During the month of October 2021, the Company also witnessed visible trends of sequential improvement in Stage 2 while Stage 3 was range-bound. With opening of the economy and customer cashflow improving on account of mobility, festival and harvest, the Company expects gradual reduction in Stage 3 and Stage 2 to continue in the months to come.

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet as at October 2021 end.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 195.40 as compared to the previous close of Rs. 195.40. The total number of shares traded during the day was 46877 in over 854 trades.

The stock hit an intraday high of Rs. 198.20 and intraday low of 194.60. The net turnover during the day was Rs. 9174867.00.

Source : Equity Bulls

Keywords

MahindraandMahindraFinancialServices INE774D01024 Finance NBFCs BusinessUpdate October2021