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Mahindra & Mahindra Financial Services Ltd


BSE: 532720 | NSE: M&MFIN | ISIN: INE774D01024 
Market Cap: [Rs.Cr.] 13,309 | Face Value: [Rs.] 2
Industry: Finance & Investments

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Board Meet

23-Apr-13 
Maharashtra Scooters Ltd has informed BSE that the Company is exercising tine option of submitting Audited Financial Results for the entire financial year ended March 31, 2013, within a period of 60 days thereof, in lieu of publishing the Unaudited Quarterly Financial Results for the quarter ended March 31, 2013. Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 23, 2013, inter alia, has recommended a Dividend of Rs. 3.6 per Equity Share of the face value of Rs. 2 each (including a Special Dividend of Re. 0.20 paise) to the Shareholders of the Company for the Financial Year ended March 31, 2013. The Annual General Meeting of the Company will be held on July 25, 2013. The dividend on Equity Shares, if declared at the ensuing Annual General Meeting to be held on July 25, 2013, will be credited / dispatched between July 26, 2013 and August 02, 2013 to those Members whose names appears on the Company's Register of Members and to the beneficial owners as per the particulars to be furnished by the Depositories as on close of the Business hours on July 05, 2013. Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 23, 2013, has subject to the approval of the shareholders to be obtained by means of the Postal Ballot in accordance with Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2011, approved of the increase in the borrowing limit from Rs. 30,000 crores to Rs. 38,000 crores, in order to further expand its business and to meet its increased financial needs and has fixed May 03, 2013 as the cut off date for ascertaining the list of the shareholders to whom Postal Ballot Notice and Postal Ballot Form will be sent and also for reckoning the voting rights. The physical Postal Ballot Forms should reach the Scrutinizer on or before the close of working hours on June 07, 2013. In case of a Member opting for e-voting facility offered by the Company, the resolution can be voted upon till the end of voting period i.e. upto tine close of June 07, 2013. The results of the Postal Ballot will be declared on or before June 12, 2013 at the Corporate Office of the Company situated at Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai - 400 018. (As per BSE Announcement Dated on 23.04.2013) 
18-Jan-13 
Mahindra & Mahindra Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 18, 2013 for taking on record the Company's Unaudited Financial Results for the third quarter ended December 31, 2012 (Q3). 
21-Dec-12 
Mahindra & Mahindra Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 21, 2012, inter alia, to consider a proposal for sub-division (stock-split) of the present face value of the Equity Shares of Rs.10 each of the Company into smaller denomination as the Board may deem fit and consequential amendments to the Memorandum and Articles of Association of the Company, subject to the approval of members of the Company. Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its Meeting held on December 21, 2012, inter alia, has subject to requisite approvals being obtained by the Company, approved the sub-division (stock-split) of each of the Equity Share of the face value of Rs. 10 each in the Equity Share Capital of the Company fully paid-up into 5 Equity Shares of the face value of Rs. 2 each fully paid-up and consequential amendments to the Memorandum and Articles of Association of the Company. The Company would be seeking consent of the Shareholders for the aforesaid by a Postal Ballot in accordance with section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2011. The Board has fixed December 26, 2012 as the cut-off date for ascertaining the list of Shareholders to whom the Notice and Postal Ballot Form will be sent. The results of the Postal Ballot will be declared on or before February 06, 2013 at the Corporate Office of the Company situated at Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai - 400 018. (As per BSE Announcement Dated on 21.12.2012) 
20-Oct-12 
Mahindra & Mahindra Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 20, 2012 for taking on record the Company's Audited Financial Results for the second quarter and half year ended September 30, 2012 (Q2). 
09-Oct-12 
The Board of Directors of the Company at its meeting held on October 09,2012,has subject to the approval of the shareholders inter alia, approved of raising funds by issue of Equity Shares for an aggregate amount not exceeding Rs. 925 crores by way of a Qualified Institutions Placement to Qualified Institutional Buyers at such time,price and on such other terms and conditions as may be determined by the Committee of Directors constituted in this regard in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,2009.This capital is being raised inter alia,to augment the long term resources by way of enhancing the Tier I capital base,leverage the available business opportunities,provide funding for loans to the customers of the Company and for general corporate purposes.The Board has also decided to convene an Extraordinary General Meeting on November 06,2012 to seek approval of the Members. Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 09, 2012, has subject to the approval of the shareholders inter alia, approved of raising funds by issue of Equity Shares for an aggregate amount not exceeding Rs. 925 crores by way of a Qualified Institutions Placement to Qualified Institutional Buyers at such time, price and on such other terms and conditions as may be determined by the Committee of Directors constituted in this regard in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. This capital is being raised inter alia, to augment the long term resources by way of enhancing the Tier I capital base, leverage the available business opportunities, provide funding for loans to the customers of the Company and for general corporate purposes. The Board has also decided to convene an Extraordinary General Meeting on November 06, 2012 to seek approval of the Members. (As per BSE Announcement Dated on 09.10.2012)  

AGM

25-Jul-13
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 23, 2013, inter alia, has recommended a Dividend of Rs. 3.6 per Equity Share of the face value of Rs. 2 each (including a Special Dividend of Re. 0.20 paise) to the Shareholders of the Company for the Financial Year ended March 31, 2013. The Annual General Meeting of the Company will be held on July 25, 2013. The dividend on Equity Shares, if declared at the ensuing Annual General Meeting to be held on July 25, 2013, will be credited / dispatched between July 26, 2013 and August 02, 2013 to those Members whose names appears on the Company's Register of Members and to the beneficial owners as per the particulars to be furnished by the Depositories as on close of the Business hours on July 05, 2013. 
27-Jul-12
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 07, 2012 to July 27, 2012 (both days inclusive) for the purpose of Payment of Dividend & 22nd Annual General Meeting (AGM) of the Company to be held on July 27, 2012. The dividend on Equity Shares, if declared at the ensuing Annual General Meeting to be held on July 27, 2012, will be credited / dispatched between July 28, 2012 and August 06, 2012 to those Members whose names appear on the Company Register of Members and to the beneficial owners as per the particulars to be furnished by the Depositories as on close of the Business hours on July 06, 2012 Mahindra & Mahindra Financial Services Limited has informed the Exchange that the dividend on equity shares,if declared at the ensuing Annual General Meeting to be held on July 27, 2012 will be credited / dispatched between July 28, 2012 and August 06, 2012. (As per NSE Bulletin Dated on 24/04/2012) Mahindra & Mahindra Financial Services Ltd has informed BSE that the 22nd Annual General Meeting (AGM) of the Company will be held on July 27, 2012. (For more details kindly refer Corporate Announcements on www.bseindia.com). (AsPer BSE ANnouncement Website Dated on 03/07/2012) Mahindra & Mahindra Financial Services Ltd has informed BSE that the 22nd Annual General Meeting (AGM) of the Company was held on July 27, 2012. (AsPer BSE Announcement Website dated on 27/07/2012) Mahindra & Mahindra Financial Services Ltd has submitted to BSE a copy o the disclosures pertaining to the voting results of the 22nd Annual General Meeting of the Company held on July 27, 2012, under Clause 35A. (As Per BSE Announcement Website Dated on 28/07/2012) Mahindra & Mahindra Financial Services Ltd has submitted to BSE a copy of the Resolutions passed at the 22nd Annual General Meeting (AGM) of the Company held on July 27, 2012. (As Per BSE Announcement Dated on 01.08.2012) 
29-Jul-11
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 09, 2011 to July 29, 2011 (both days inclusive) for the purpose of Payment of Dividend & 21st Annual General Meeting (AGM) of the Company to be held on July 29, 2011. Mahindra & Mahindra Financial Services Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on July 29, 2011, inter alia, have approved the following: 1. Adoption of the Audited Accounts for the year ended March 31, 2011 together with the Reports of the Auditors and Directors thereon. 2. Declaration of Dividend of Rs. 10.00 per Equity Share of Rs. 10 each (at the rate of 100%). 3. Re-appointment of Mr. Piyush Mankad and Mrs. Rama Bijapurkar as Directors of the Company. 4. Re-appointment of Messrs. B. K. Khare & Co., Chartered Accountants, as Statutory Auditors of the Company. 5. Re-appointment of Mr. Ramesh Iyer as the Managing Director of the Company for a period of 5 years with effect from April 30, 2011. 6. Modification of the Special Resolution passed at the previous Annual General Meeting held on July 23, 2010 for payment of commission upto 1 per cent per annum of the net profits of the Company to the Non-Wholetime Directors of the Company for a period of 5 years with effect from April 01, 2010. (As Per BSE Announcement Dated on 29.07.2011) Mahindra & Mahindra Financial Services Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on July 29, 2011, inter alia, have accorded to the following: 1. Adoption of the Balance Sheet as at March 31, 2011 and the Profit and Loss Account for the year ended March 31, 2011, together with the Reports of the Auditors' and Directors'. 2. Declaration of a dividend of Rs. 10.00 on 10,40,02,735 Equity Shares of Rs. 10 each fully paid up aggregating Rs. 121.3 crores (including dividend tax) and that the said dividend be distributed from the Company's profits for the year ended March 31, 2011, to those shareholders whose names appeared on the Register of Members. 3. Re-appointment of Mr. Piyush Mankad and Mrs. Rama Bijapurkar as Directors of the Company. 4. Re-appointment of Messrs. B. K. Khare & Co., Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting, until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions. 5. Re-appointment of Mr. Ramesh Iyer as the Managing Director of the Company for a period of 5 years with effect from April 30, 2011 on remuneration, terms & conditions. 6. in partial modification of the Special Resolution passed by the Shareholders at the 20TH Annual General Meeting of the Company held on July 23, 2010, the Directors who are neither in the whole-time employment of the Company nor the Managing Director, Executive Director(s) and such of the remainder as may not desire to participate, shall, for a period of five years with effect from April 01, 2010, be paid remuneration by way of commission upto one per cent of the net profits of the Company, computed in the manner referred to in Sections 198, 309 and all other applicable provisions of the Companies Act, 1956, such commission to be distributed amongst and paid to the aforesaid Directors concerned in such proportions as they may from time to time decide between themselves. (As Per BSE Announcement Website dated on 05.08.2011) 
23-Jul-10
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 03, 2010, to July 23, 2010 (both days inclusive) for the purpose of 20th Annual General Meeting (AGM) of the Company to be held on July 23, 2010. Mahindra & Mahindra Financial Services Ltd has informed BSE that the shareholders at the 20th Annual General Meeting (AGM) of the Company held on July 23, 2010, inter alia, have approved the following: 1. Adoption of the Audited Accounts for the year ended March 31, 2010 together with the Reports of the Auditors and Directors thereon. 2. Declaration of Dividend, of Rs. 7.50 per Equity Share of Rs. 10 each (at the rate of 75%). 3. Re-appointment of Mr. Bharat Doshi and Mr. Dhananjay Mungale as Directors of the Company. 4. Re-appointment of Messrs. B. K. Khare & Co., Chartered Accountants, as Statutory Auditors of the Company. 5. Appointment of Mr. M. B. N. Rao and Dr. Pawan Kumar Goenka as Directors of the Company. 6. Increase in Borrowing limits from Rs. 10,000 crores to Rs. 15,000 crores. 7. Payment of commission upto 1 per cent per annum of the net profits of the Company to the Non-Wholetime Directors of the Company for a further period Of 5 years. (As Per BSE Announcement Website dated on 23.07.2010) Mahindra & Mahindra Financial Services Ltd has submitted to BSE a copy of the Resolutions passed at the Annual General Meeting (AGM) held on July 23, 2010. (As Per BSE Announcement Dated on 29.07.2010) 
27-Jul-09
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 04, 2009 to July 27, 2009 (both days inclusive) for the purpose of 19th Annual General Meeting (AGM) of the Company to be held on July 27, 2009. Mahindra & Mahindra Financial Services Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on July 27, 2009, inter alia, have accorded to the following: 1. Adoption of the Audited Accounts for the year ended March 31, 2009 together with the Reports of the Auditors and Directors thereon. 2. Declaration of Dividend of Rs 5.50 per Equity Share of Rs 10 each (at the rate of 55%). 3. Re-appointment of Mr. M G Bhide and Mr. Uday Y Phadke as Directors of the Company. 4. Re-appointment of Messrs. B K Khare & Co., Chartered Accountant as Statutory Auditors of the Company. 5. Revision in the Remuneration of Mr. Ramesh Iyer, Managing Director of the Company. (As Per BSE Announcement Website dated on 27.07.2009) 

EGM

06-Nov-12
EGM 06.11.2012 Mahindra & Mahindra Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 09, 2012, The Board has decided to convene an Extraordinary General Meeting on November 06, 2012 to seek approval of the Members. (As per BSE Announcement Dated on 09.10.2012) Mahindra & Mahindra Financial Services Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on November 06, 2012. (As per BSE Announcement Dated on 12.10.2012) Mahindra & Mahindra Financial Services Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company was held on November 06, 2012. (As per BSE Announcement Dated on 06.11.2012) Mahindra & Mahindra Financial Services Ltd has submitted to BSE a copy of the Special Resolution passed at the Extraordinary General Meeting (EGM) of the Company held on November 06, 2012. (As per BSE Announcement Dated on 07.11.2012) Mahindra & Mahindra Financial Services Ltd has informed BSE regarding Extra Ordinary General Meeting (EGM) of the Company was held on November 06, 2012, under Clause 35A. (As per BSE Announcement Dated on 07.11.2012)  
19-Feb-08
The Board subject to the approval of the shareholders approved the following: Issuance of 1,09,00,000 Equity Shares on a preferential basis at a price of Rs 380/- per share (inclusive of Share premium of Rs 370/- per share) aggregating Rs 414.20 crores to the following investors. i. TPG-Axon (Mauritius) II, Ltd - 70,00,000 No of equity shares ii. Standard Chartered Private Equity (Mauritius) Ltd - 39,00,000 No of equity shares This capital is being raised in order to augment the long term resources by way of enhancing the Tier I capital base, provide funding for loans to the customers of the Company, to invest in subsidiaries to the extent permitted and for general corporate purposes. 2. Increase in the Authorised Capital of the Company from Rs 140 Crores to Rs 160 Crores and consequential amendments in the Memorandum and Articles of Association of the Company. The Board has also decided to convene an Extraordinary General Meeting (EGM) on February 19, 2008 to seek approval of the Members for the above matters. Mahindra & Mahindra Financial Services Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on February 19, 2008, inter alia, to transact the following: 1. To increase the Authorised Share Capital of the Company from Rs 140,00,00,000 (Rupees One Hundred Forty Crores) divided into 9,00,00,000 Crores Equity Shares of Rs 10 (Rupees Ten), each and 50,00,000 (Fifty Lakhs) Redeemable Preference Shares of Rs 100 (Rupees Hundred) each to Rs 160,00,00,000 (Rupees One Hundred Sixty Crores) divided into 11,00,00,000 (Eleven Crores) Equity Shares of Rs 10 (Rupees Ten) each and 50,00,000 (Fifty Lakhs) Redeemable Preference Shares of Rs 100 (Rupees Hundred) each by the creation of additional 2,00,00,000 (Two Crores) Equity Shares of Rs 10 (Rupees Ten) each and consequential amendment in the Clause V of the Memorandum of Association and Articles of Association of the Company. 2. Authority to the Board to create, offer, issue and allot to TPG-Axon (Mauritius) II Ltd and Standard Chartered Pvt Equity (Mauritius) Ltd cumulatively upto 1,09,00,000 (One Crore Nine Lakhs) Equity Shares of Rs 10 (Rupees Ten) each at a premium of Rs 370 (Rupees Three Hundred Seventy) per share aggregating Rs 414,20,00,000 (Rupees Four Hundred and Fourteen Crores Twenty Lakhs) in terms of and on the conditions specified in the SEBI (Disclosure & Investor Protection) Guidelines, 2000, on a preferential allotment basis and on such other terms and conditions and in such manner as the Board may think fit, without offering the same to any persons who at the date of offer are holders of Equity Shares of the Company, subject to necessary provisions and approvals. (As Per BSE Announcement Website Dated on 25/01/2008) Mahindra & Mahindra Financial Services Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on February 19, 2008, inter alia, have approved the following: 1. Increase in the Authorised Share Capital of the Company from Rs 140 crores to Rs 160 crores and consequential alteration of Clause V of the Memorandum of Association and Article 3 of the Articles of Association of the Company. 2. Pursuant to the provisions of Section 81(1A) and all other applicable provisions of the Companies Act, 1956 authorising the Board of Directors / Committee of the Board to create, offer, issue and allot to TPG-Axon (Mauritius) II Ltd and Standard Chartered Private Equity (Mauritius) Ltd cumulatively upto 1,09,00,000 (One Crore Nine Lakhs) Equity Shares of Rs 10 (Rupees Ten) each at a premium of Rs 370 (Rupees Thee Hundred Seventy) per share aggregating Rs 414,20,00,000 (Rupees Four Hundred and Fourteen Crores Twenty Lakhs) in terms of and on the conditions specified in the SEBI (Disclosure & Investor Protection) Guidelines, 2000, on a preferential allotment basis. (As Per BSE Announcement Website Dated on 19/02/2008) 
03-Jan-06
The company has informed that the members at the Extra Ordinary GeneralMeeting (EGM) of the Company held on January 03, 2006, inter alia, have approved to issue, offer and allot upto 40,00,000 Equity Shares of the face value of Rs 10 each for cash at a premium in the band of Rs 160 per share toRs 200 per share, on a preferential basis, in one or more tranches, to Foreign Institutional Investors (FIIs), Mutual Funds, Banks, Venture Capital Funds, Foreign Venture Capital Investors, State Industrial Development Corporations, Insurance Companies, Provident Funds, Pension Funds, Development Financial Institutions,multilateral and bilateral institutions, bodies corporate, Companies, private or public or other entities, authorities and to such other persons in one or more combinations thereof. 
09-Dec-05
The company has informed that the members at the Extraordinary General Meeting (EGM) of the Company held on December 09, 2005, inter alia, have approved the following: 1. A fresh issue not exceeding 1,50,00,000 Equity Shares including a green shoe option through an IPO at a price to be determined under the book building process. The IPO will also interalia include an offer of sale not exceeding 1,00,00,000 Equity Shares, aggregating 14.25% of the paid up capital of the Company by Mahindra & Mahindra Ltd, the promoter and the holding Company and other existing shareholders of the Company. 2. Increase in Authorised Share Capital of the Company from Rs 125,00,00,000 to Rs 140,00,00,000 and consequential amendments in the Memorandum of Association and Articles of Association of the Company pertaining to increase in Authorised Share Capital. 

Peer Comparison

Company Market Cap
(Rs. in Cr.) 		P/E (TTM)
(x) 		P/BV (TTM)
(x) 		EV/EBIDTA
(x) 		ROE
(%) 		ROCE
(%) 		D/E
(x)
I D F C 24,388.28 13.82 1.81 11.65 13.9 10.6 3.56
Shriram Trans. 18,206.65 13.38 2.53 6.93 23.1 14.5 3.95
L&T Fin.Holdings 14,086.67 126.23 3.99 80.10 2.8 3.8 0.07
M & M Financial 13,308.75 15.43 2.99 9.49 22.8 13.6 4.34
Bajaj Finserv 11,076.94 162.63 4.60 80.93 5.4 7.6 0.00
Vatsa Corpn 10,250.98 0.00 1.35 0.00 0.0 0.0 0.00
Reliance Capital 9,347.45 14.12 0.81 10.23 5.7 9.7 2.06
Bajaj Fin. 7,871.96 13.31 2.34 9.86 24.0 13.3 4.99
Sundaram Finance 6,146.05 14.70 3.44 7.51 21.4 13.1 5.32
Shri.City Union. 6,139.15 14.57 3.39 8.04 23.3 14.1 5.75
Muthoot Finance 5,776.37 5.75 1.55 6.23 41.9 20.6 7.35
KSK Electricity 5,418.99 3,168.33 9.36 0.00 0.3 0.4 0.00
India Securities 4,926.38 0.00 57.40 0.00 0.0 0.0 1.78
DSP Merrill Lyn 4,689.56 24.85 2.36 0.00 10.4 14.2 0.00
Religare Enterp. 4,512.63 66.68 1.55 0.00 0.0 0.0 0.00

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Key Information

Key Executives:

Bharat N Doshi , Chairman 

Uday Y Phadke , Director 

Dhananjay Mungale , Director 

Manohar G Bhide , Director 

Company Head Office / Quarters:
Gateway Building,
Apollo Bunder,
Mumbai,
Maharashtra-400001
Phone : 91-22-22021031/66526000
Fax : 91-22-22875485/24972741
E-mail : investorhelpline_mmfsl@mahindra.com
Web : http://www.mahindrafinance.com
Registrars:
Karvy Computershare Pvt Ltd
Plot No 17-24
Vittal Rao Nagar
Madhapur
Hyderabad-500081

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