Mahindra & Mahindra Financial Services Limited - Business Updates for May 2022

In May 2022, the business of the Company continued its momentum with a disbursement of approximately Rs. 2,973 Crores delivering a 272% Y-o-Y growth. The YTD disbursements at approximately Rs. 5,686 Crores, registered a Y-o-Y growth of 169%.

The collection efficiency ("CE") was at 95% for May 2022 in comparison to a subdued CE of 67% for May 2021 which was affected due to Covid related lockdowns. The CE is in line with pre-Covid levels.

With momentum in collections witnessed so far, we expect a lower volatility on Stage 3 assets during Q1 FY 2023.

The Company continued to hold adequate liquidity buffer of approximately Rs. 8,775 crores as on 31st May 2022 which covers ~3 months funds requirement.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 180.50 as compared to the previous close of Rs. 178.45. The total number of shares traded during the day was 111592 in over 1611 trades.

The stock hit an intraday high of Rs. 181.30 and intraday low of 177.05. The net turnover during the day was Rs. 20079124.00.

Source : Equity Bulls

Keywords

MahindraandMahindraFinancialServices INE774D01024 NBFC BusinessUpdate May2022