Sector Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd

2024-03-05 11:28:03 am | Source: Motilal Oswal Financial Services Ltd

Sector Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd

News By Tags | #NBFC #TradingReport #SectorReport #MotilalOswalFinancialServicesLtd #Mahindra&MahindraFinancialServicesLimited

Feb’24 disbursements grew 13% YoY; asset quality remained stable

CE stood at 97% (same levels YoY)

Key takeaways from Feb’24 business update:

* MMFS Feb’24 disbursements grew 13% YoY to ~INR47.3b. YTD-FY24 disbursements stood at ~INR500b, up ~14% YoY.

* Gross business assets as of Feb’24 stood at ~INR1t, up 24% YoY and a growth of ~21% over Mar’23.

* Feb’24 collection efficiency stood at 97% (vs. 97% in Feb’23).

* GS3/GS2 were range-bound compared to Dec’23.

* As of Feb’24, MMFS maintained a comfortable liquidity position with a liquidity chest of ~INR76b (~12% of borrowings).

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Sector Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd

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