In March 2023, Mahindra and Mahindra Finance Service Limited estimated the overall disbursement at approximately Rs 5,600 crore delivering a 42 per cent year-on-year growth. The fourth quarter disbursements were at approximately Rs 13,750 crore with a registered growth of 50 per cent year-on-year. The disbursement for financial year 2023 was approximately at Rs 49,500 crore registering a year-on-year growth of 80 per cent.
Healthy disbursement trends during financial year 2023 have led to Business Assets at approximately Rs 82,300 crore, growth of approximately 7 per cent over December 2022 and approximately 27 per cent over March 2022.
CE
The Collection Efficiency (CE) was at 105 per cent for March 2023. The current quarter’s CE was at 99 per cent (100% for Q4FY2022)
Stage-3 expected at 4.6 per cent in comparison to 5.9 per cent as at December 2022 and Stage-2 expected at 6.7 per cent in comparison at 8.4 per cent as at December 2022 have continued to improve. Compared to Stage-3 assets, Gross Non-Performing Assets (‘GNPA’) (as per Income Recognition, Asset Classification and Provisioning norms) are estimated to be higher by approximately Rs 1,200 crore, requiring no additional provisions over and above the Expected Credit Loss (‘ECL’) provision for FY2023.
The company continued to maintain a comfortable liquidity chest of about 3 months’ requirement.
