Mahindra & Mahindra Financial Services Ltd - Updates for the month of July 2024

Mahindra & Mahindra Financial Services Limited has announced the business updates for the month of July 2024:

In July 2024, we estimate the overall disbursement at approximately Rs. 4,530 crores delivering a 3% Y-o-Y growth. The YTD July 2024 disbursement at about Rs. 17,270 crores, registered a growth of 5% Y-o-Y.

Business Assets at approximately Rs. 1,07,300 crores grew by ~5% over March 2024 and ~22% over July 2023.

The Collection Efficiency ("CE") was at 95% for July 2024 (against 96% for July 2023).

As of 31 July 2024, Stage-3 and Stage-2 assets have remained below 10% put together.

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over Rs. 7,600 crores.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 305.25 as compared to the previous close of Rs. 306.30. The total number of shares traded during the day was 43801 in over 953 trades.

The stock hit an intraday high of Rs. 307.70 and intraday low of 301.00. The net turnover during the day was Rs. 13347620.00.

Source : Equity Bulls

Keywords

MahindraandMahindraFinancialServices INE774D01024 MahindraFinance BusinessUpdates July2024