Mahindra & Mahindra Financial Services (Mahindra Finance) has disbursed approximately Rs 2,973 crore for month of May 2022, delivering a 272% Year on Year (Y-o-Y) growth. The YTD disbursements stood at approximately Rs 5,686 crore, 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, the company expects a lower volatility on Stage 3 assets during Q1 FY23.
The company continued to hold adequate liquidity buffer of approximately Rs 8,775 crore as on May 31, 2022 which covers 3 months funds requirement.
Mahindra Finance is one of India’s leading non-banking finance companies.
