September 4th 2023.
In August 2023, Mahindra and Mahindra Finance Service Limited estimated the overall disbursement at approximately Rs 4,400 crore, delivering a 15 per cent year-on-year growth. The year-to-date August 2023 disbursements were at approximately Rs 20,950 crore, showcasing a registered growth of 22 per cent year-on-year.
The healthy disbursement trends during the current period have led to Business Assets at approximately Rs 90,500 crore, which is a growth of approximately 9.4 per cent compared to March 2023 and 28 per cent compared to August 2022.
The Collection Efficiency was also at 96 per cent for August 2023, which is the same as August 2022. Stage-3 and Stage-2 assets also remained rangebound compared to June 2023 and the Company maintained a comfortable liquidity chest of about 3 months’ requirement.
The Mahindra and Mahindra shares closed at Rs 1,576 on Monday, a 1 per cent decrease. Despite the dip in share prices, chairman Anand Mahindra praised the Reserve Bank of India for its pilot Loan Delivery Platform.
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