Mahindra Mahindra Financial Services records strong business momentum

8 Apr 2022 , 01:34 AM

Mahindra Mahindra Financial Services announced that in March 2022 the business continued its momentum with a disbursement of approximately Rs 3832 crore delivering a 66Percentage Y-o-Y growth The disbursement for FY 2022 at approximately Rs 27466 crore registered a Y-o-Y growth of 45Percentage This has led to marginal growth in Business Assets over previous year The collection efficiency CE was in line with expectations at 109Percentage for March 2022 similar as March 2021 The buoyancy in collections has led to significant sequential improvement in asset quality resulting in Stage 3 assets as of March 2022 being lower than as of March 2021 Similarly Stage 2 assets have also seen meaningful improvement over 31st December 2021 level The Company will bring the Net Stage 3 below 4Percentage as on 31st March 2022 as committed The Company continued to enjoy a comfortable liquidity position on its Balance Sheet with a liquidity chest of over 3 months