M&M Financial Services gains 4% on 13% YoY growth in FY24 disbursements

The company reported an overall disbursement of ₹56,200 crore in the financial year 2023-24 (FY24), witnessing a double-digit growth of 13% on a year-on-year (YoY) basis.

The financial firm’s disbursements registered a healthy 11% growth year-on-year for the quarter ending on March 31, 2024, at about ₹15,300 crore, while the overall disbursement recorded for the month of March 2024 rose by 9% YoY to approximately ₹6,100 crore.

Riding on a strong loan disbursement, Mahindra & Mahindra Financial Services’ business assets grew to about ₹1,02,400 crore in the financial year ending, March 31, 2024.

The growth in business assets to ₹1.02 crore indicates an almost 24% YoY jump in the financial year ended March 2024, and an almost 6% increase from the preceding quarter of December 31, 2023.

Mahindra & Mahindra Financial Services’ collection efficiency (CE) stood at 101% in March 2024 compared to 105% in March 2023, while the figure has been estimated at around 98% in the March-ended quarter of FY24 versus the year-ago period’s value of 99%.

For FY24, the company’s collection efficiency stood at 96%, same as the figure noted in the previous financial year.

M&M Financial Services continues to enjoy a comfortable liquidity position on its Balance Sheet, having a liquidity chest exceeding ₹7,650 crore.

The company’s shares closed 3.5% higher at ₹297 per piece on the NSE.