Mahindra & Mahindra Financial Services Ltd - Updates for October 2022

Mahindra & Mahindra Financial Services Limited has announced the business updates for the month of October 2022.

In October 2022, the company estimates the total disbursement of approximately Rs. 5,250 Crores, delivering 97% growth over October 2021.

The collection efficiency (CE) was at 91% for October 2022, similar to the CE reported for October 2021.

The Gross Stage 3 (GS 3) as at October end is estimated at 7.0%.

Based on the IRACP norms, the GNPA is higher by approximately Rs. 900 Crores, as at October end, in comparison to GS 3 (under IND-AS). As per Company's assessment, there may not be any requirement of making additional provisions during FY23 on account of IRACP migration.

The Company continued to hold adequate liquidity buffer which covers ~ 4 months' funds requirement.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 193.60 as compared to the previous close of Rs. 198.20. The total number of shares traded during the day was 431495 in over 6979 trades.

The stock hit an intraday high of Rs. 199.00 and intraday low of 191.20. The net turnover during the day was Rs. 83615259.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 MahindraFinance Updates October2022