Company Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Disbursements flat MoM; asset quality stable
Nov’23 disbursements grew 18% YoY and CE stood at 94% (vs. 96% YoY)
Key takeaways from Nov’23 business update:
? MMFS reported Nov’23 disbursements of ~INR53b, flat MoM and up ~18% YoY. YTD disbursements stood at ~INR360b, up ~16% YoY.
? Gross business assets as of Nov’23 stood at ~INR966b, up 26% YoY and up ~17% over Mar’23. ? Nov’23 collection efficiency stood at 94% (vs. 96% in Nov’22).
? GS3/GS2 were range-bound compared to Sep’23.
? Important to highlight here that in 2022, Diwali was in October, but in 2023, Diwali was in November. This explains the YoY growth in disbursements and the slight decline in CE.
? As of Oct’23, MMFS maintained a comfortable liquidity position equivalent to ~2.5 months of funding requirements.
For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
