Mahindra & Mahindra Financial Services Limited - Updates for the month of September 2023

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

In September 2023, we estimate the disbursement to be at approximately Rs. 4,500 crores delivering a 11% Y-o-Y growth. The Q2FY2024 disbursements at ~ Rs. 13,300 crores result in growth of 12.6% Y-oY.

For H1FY2024, the disbursement of approximately Rs. 25,500 crores result in growth of 20% on a Y-o-Y basis.

Healthy disbursement trends during Q2FY2024 together with pre-festival dealer advance have led to Business Assets at ~ Rs. 93,600 crores, growth of ~ 13% over March 2023 and ~ 8% over June 2023.

The collection efficiency ("CE") was at 97% for September 2023, a marginal improvement over 96% achieved in August 2023. September 2022 recorded a CE of 98%.

Stage-3 is estimated at 4.4% (4.3% as at June 2023) while Stage-2 is estimated at 5.8% (6.4% as at June 2023).

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 2.5 months.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 301.30 as compared to the previous close of Rs. 291.90. The total number of shares traded during the day was 244946 in over 4038 trades.

The stock hit an intraday high of Rs. 306.95 and intraday low of 294.60. The net turnover during the day was Rs. 74112664.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 MahindraFinance September2023 BusinessUpdates