Mahindra & Mahindra Financial Services Disburses Rs. 4,530 Crores in July 2024, Achieves 3% YoY Growth
Mahindra & Mahindra Financial Services has revealed the key performance data for July 2024. In July 2024, the company grew 3% on a YoY basis while the total disbursement remained at Rs. 4,530 crores and the YTD July 2024 disbursement is Rs. 17,270 crores, with 5% YoY growth.
For July 2024, the total business assets were Rs. 1,07,300 crores against the Rs.1,06,200 crores of June 2024. The business assets grew 5% over March 2024 and 22% over July 2023.
The collection efficiency (CE) for July 2024 is 95% which is 1% lower than 96% for July 2023. However, the CE remained the same on the MoM basis as it was 95% in June 2024.
The Stage-3 and Stage-2 assets of M&M Financial Services remained below 10% put together, as of July 31, 2024.
The company maintained a strong liquidity position on its Balance Sheet, boasting a liquidity reserve of over Rs. 7,600 crores.
Important Terms to Know From this Report
Collection Efficiency- The collection efficiency term is used to denote the percentage of total amounts that a lender can collect from the borrowers. A higher collection efficiency means that a loan provider company can receive the loaned money successfully.
Stage 2 Asset- Stage 2 asset is the asset against the loans that are due for 31-89 days.
Stage 3 Asset- Stage 3 asset is the asset against the loans that are due for more than 90 days.
Liquidity Funds- Liquidity funds refer to the existing assets of a company that are readily available to convert into cash so that the company’s short-term liabilities are well taken care of.
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