Mahindra & Mahindra Financial business performance update for June

4 Jul 2022 , 01:39 PM

Mahindra & Mahindra Financial Services announced the following update for the month of June 2022: In June 2022, aided by macro tailwinds, the business of the Company continued its momentum with a disbursement of approximately Rs. 3,750 crore delivering a 115% Y-o-Y growth and a 27% sequential M-o-M growth. The YTD disbursement at approximately Rs. 9,450 crore registered a Y-o-Y growth of 145%. As on 30th June 2022, the Company estimates the gross business assets at Rs. 67,500 crore, a Y-o-Y growth of 6%. The collection efficiency (CE) was at 96% for June 2022 in comparison to a CE of 90% for June 2021 which was recovering post 2 months of Covid related lockdowns. The CE for Q1 FY23 is estimated at 94%, the highest ever in recent history. The collection war room set up in Q3 FY22 is now clearly showing tangible results. Stage 2 assets have seen improvement over 31 March 2022 level. The Company expects Stage 3 assets as on 30 June 2022 to be marginally higher than as on 31 March 2022. The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 3 months. Powered by Capital Market – Live News