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Lupin zooms on reporting consolidated net profit of Rs 452 crore in Q1FY24

Aug-04-2023   14:56 Hrs IST

Mahindra Finance gains on reporting 12% growth in disbursement during July

Aug-04-2023   14:34 Hrs IST

Mahindra & Mahindra Financial Services is currently trading at Rs. 290.05, up by 4.20 points or 1.47% from its previous closing of Rs. 285.85 on the BSE.

The scrip opened at Rs. 285.80 and has touched a high and low of Rs. 293.20 and Rs. 285.80 respectively. So far 127970 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 176.30 on 28-Sep-2022.

Last one week high and low of the scrip stood at Rs. 300.05 and Rs. 281.95 respectively. The current market cap of the company is Rs. 35972.45 crore.

The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.87% and 6.98% respectively.

Mahindra & Mahindra Financial Services (Mahindra Finance) has reported overall disbursement at around Rs 4,400 crore delivering a 12% Year-on-Year (Y-o-Y) growth in July 2023. The YTD July 2023 disbursements at around Rs 16,550 crore registered a growth of 23% Y-o-Y. 

Healthy disbursement trends in the current period have led to Business Assets at around Rs 88,100 crore, growth of around 6.4% over March 2023 and around 28% over July 2022. The Collection Efficiency (CE) was at 96% for July 2023 (In July 2022, CE was 97%). Stage-3 and Stage-2 assets continued to remain rangebound compared to June 2023. The Company continued to maintain comfortable liquidity chest of about 3 months’ requirement.

Mahindra Finance is one of India’s leading non-banking finance companies.