Mahindra Finance trades higher on reporting 15% growth in disbursement during August
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Mahindra & Mahindra Financial Services is currently trading at Rs. 300.25, up by 4.70 points or 1.59% from its previous closing of Rs. 295.55 on the BSE.
The scrip opened at Rs. 299.85 and has touched a high and low of Rs. 301.40 and Rs. 295.55 respectively. So far 57348 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. 301.80 and Rs. 293.15 respectively. The current market cap of the company is Rs. 36868.21 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 15% Year-on-Year (Y-o-Y) growth in August 2023. The YTD August 2023 disbursements at around Rs 20,950 crore registered a growth of 22% Y-o-Y.
Healthy disbursement trends in the current period have led to Business Assets at around Rs 90,500 crore, growth of around 9.4% over March 2023 and around 27% over August 2022. The Collection Efficiency (CE) was at 96% for August 2023 (In August 2022, CE was 96%). 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.
