M&MFIN Collection Efficiency Declined by 1.04% for June 2024
Mahindra & Mahindra Financial Services Limited (M&MFIN) Collection Efficiency fell by 1.04% to 95% in June 2024 compared to the previous year, despite overall positive financial performance.
by Damodharan N
Updated Jul 03, 2024
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M&MFIN reported a drop in its Collection Efficiency (CE) for June 2024, which fell to 95% from 96% in June 2023, marking a decline of 1.04%. Despite this decrease, the company's overall performance showed positive trends. Disbursements for June 2024 were estimated at approximately Rs. 4,370 crore, reflecting a 3% year-over-year growth.
For Q1FY25, disbursements totaled about Rs. 12,730 crore, up 5% year-over-year. Business Assets grew to around Rs. 1,06,200 crore, up 4% from March 2024 and 22% from June 2023. Stage-3 assets improved to 3.6%, down from 4.3% a year earlier, and Stage-2 assets decreased to 6.1% from 6.4% in the previous year. The company also maintained a strong liquidity position with a reserve of over Rs. 8,000 crore.
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Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited is a leading Non-Banking Financial Company (NBFC) in India, offering a variety of financial solutions including loans, investments, and insurance. With over 32 years of experience, the company serves more than 9 million customers through its extensive network of over 1,386 branches.
It provides quick and convenient financing options for vehicles, home loans, and personal loans, with minimal paperwork and flexible terms. Mahindra Finance is known for its efficient service, including a user-friendly mobile app for managing finances.
M&MFIN Collection efficiency declined by 1.04% for June 2024 - FAQs
1. What was M&MFIN's Collection Efficiency (CE) for June 2024?
CE Collection Efficiency was 95% in June 2024.
2. How much did the CE decline by compared to June 2023?
The CE declined by 1.04% from June 2023.
3. What were the estimated disbursements for June 2024?
The disbursements were approximately Rs. 4,370 crore.
4. How did the disbursements for Q1FY25 compare year-over-year?
Disbursements for Q1FY25 increased by 5% year-over-year.
5. What was the growth in Business Assets as of June 2024?
Business Assets grew to Rs. 1,06,200 crore, up 4% from March 2024 and 22% from June 2023.
6. What is the Stage-3 asset percentage as of June 2024?
Stage-3 assets are estimated at 3.6%.
7. How does the Stage-3 asset percentage compare to the previous year?
It improved from 4.3% a year earlier.
8. What is the estimated percentage for Stage-2 assets as of June 2024?
Stage-2 assets are estimated at around 6.1%.
9. How has Stage-2 asset percentage changed from the previous year?
It decreased from 6.4% in the previous year.
10. What is the company's liquidity position as of June 2024?
The company has a liquidity reserve of over Rs. 8,000 crore.
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