Mahindra & Mahindra Financial Services records strong business momentum

4 Apr 2022 , 02:06 PM

Mahindra & Mahindra Financial Services announced that in March 2022, the business continued its momentum with a disbursement of approximately Rs. 3,832 crore delivering a 66% Y-o-Y growth. The disbursement for FY 2022 at approximately Rs. 27,466 crore, registered a Y-o-Y growth of 45%. This has led to marginal growth in Business Assets over previous year.

The collection efficiency (CE) was in line with expectations at 109% 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 4% 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.

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