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Mahindra & Mahindra Financial Services reports Rs2,500cr disbursement in November 2021, up 17% yoy

The Collection Efficiency too improved further to 94%, compared to collection efficiency of 84% in November 2020.

December 02, 2021 3:56 IST | India Infoline News Service
Mahindra Finance
Mahindra & Mahindra Financial Services Limited informed the exchanges Thursday that in November 2021, the business continued its momentum with the disbursement of Rs2,500cr delivering 17% yoy growth. The Collection Efficiency too improved further to 94%, yoy (November 2020 – Collection Efficiency was 84%) and sequentially (October 2021 - Collection Efficiency was 91%).

This improved customer payment behavior has reflected in a month-on-month reduction in Stage 2 and stability in Stage 3, compared to October 2021. The Company expects this positive trend to continue in December. This will aid in further reduction in Stage 2 and Stage 3 contracts by December end.

“The Company continued to enjoy a comfortable liquidity position on its Balance Sheet as at November 2021 end, with a liquidity chest of well over 3.5 months,” it said.

Mahindra & Mahindra Financial Services Ltd ended at Rs162.40 per piece up by Rs5 or 3.18% from its previous closing of Rs157.40 per piece on the BSE.

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