Mahindra & Mahindra Financial Services Ltd - Updates for the month of August 2023

Mahindra & Mahindra Financial Services Limited has announced the business updates for the month of August 2023:

In August 2023, we estimate the overall disbursement at ~ Rs. 4,400 crores delivering a 15% Y-o-Y growth. The YTD August 2023 disbursements at ~ Rs. 20,950 crores registered a growth of 22% Y-o-Y.

Healthy disbursement trends in the current period have led to Business Assets at ~ Rs. 90,500 crores, growth of ~ 9.4% over March 2023 and ~ 27% over August 2022.

The Collection Efficiency (CE) was at 96% for August 2023 (In August 2022, CE was 96%).

Stage-3 and Stage-2 assets continued to remain rangebound compared to June 2023.

The Company continued to maintain comfortable liquidity chest of about 3 months' requirement.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 298.90 as compared to the previous close of Rs. 297.35. The total number of shares traded during the day was 73324 in over 1003 trades.

The stock hit an intraday high of Rs. 300.25 and intraday low of 293.80. The net turnover during the day was Rs. 21806890.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 August2023 Update