Mahindra & Mahindra Financial Services (Mahindra Finance) has reported disbursement at around Rs 4,500 crore delivering a 11% Year-on-Year (Y-o-Y) growth in September 2023. The Q2FY2024 disbursements at around Rs 13,300 crore result in growth of 12.6% YoY.
For H1FY2024, the disbursement of around Rs 25,500 crore results 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 around Rs 93,600 crore, growth of around 13% over March 2023 and around 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.
Mahindra Finance is one of India’s leading non-banking finance companies.
