Mahindra Finance standalone net income rises 14% to Rs 684 crore in March quarter
The company proposed a dividend of Rs 6 per share or 300 per cent for the year.29-04-2023
29-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - RPT Disclosure For Half-Year Ended 31 March 2023
RPT Disclosure for Half-year ended 31 March 202328-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
Amendment to Furtherance Clause of Memorandum of Association ('MOA') of the Company.28-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Change in Directorate
The Board of Directors of the Company have at their meeting held today i.e. 28th April 2023 inter-alia, approved the following, subject to approval of the shareholders of the Company: (i) Appointment of Mr. Raul Rebello (DIN: 10052487) as an Additional Director with effect from 1st May 2023 and (ii) Appointment of Mr. Raul Rebello (DIN: 10052487) as the Whole-time Director designated as 'Executive Director and MD & CEO- Designate' with effect from 1st May 2023 upto 29th April 2024 (both days inclusive) and as the Managing Director of the Company designated as 'Managing Director & CEO'('MD & CEO') with effect from 30th April 2024 upto 30th April 2028 (both days inclusive) and as the Key Managerial Personnel of the Company in terms of section 203 of the Companies Act, 2013.28-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Intimation Of Book Closure Pursuant To Regulation 42 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.
In compliance with Regulation 42 and other applicable regulations, if any, of the Listing Regulations, we hereby inform you that the Register of Members and Share Transfer Books of the Company will remain closed from Saturday, 22nd July 2023 to Friday, 28th July 2023 (both days inclusive) for the purpose of 33rd Annual General Meeting ("AGM") and payment of Dividend (subject to Tax Deducted at Source), if declared at the ensuing AGM of the Company to be held on Friday, 28th July 2023.28-04-2023
Mahindra Finance standalone net income rises 14% to Rs 684 cr in Q4
Mahindra Finance on Friday reported a 14 per cent growth in its net income at Rs 684 crore for the March quarter on a standalone basis, buoyed by healthy loan sales and the resultant increase in net interest income. The company said during the quarter, its disbursement grew 50 per cent to Rs 13,778 crore, taking the loan book to Rs 82,770 crore, which clipped at 27 per cent across 1 million new loan contracts. For the full year FY23, disbursements rose 80 per cent to Rs 49,541 crore. Net interest income also grew 24 per cent to Rs 3,057 crore in the reported quarter. With this, the company's full-year revenue stood at Rs 11,056 crore from which it earned Rs 1,984 crore, which is 101 per cent more than it had earned in FY22. During the March quarter, the net interest margin was at 7.4 per cent or Rs 1,723 crore, which is up 13 per cent. Gross bad loans ratio improved to 4.5 per cent from 5.9 per cent, while net bad loans was 1.9 per cent. Its provision coverage ratio stood at 59.528-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Corporate Action-Board approves Dividend
The Board of Directors of Mahindra & Mahindra Financial Services Limited ('the Company'), at its meeting held today viz. Friday, 28th April 2023, have, inter-alia, approved the following: 1. Recommendation of dividend of Rs. 6 per equity share of face value of Rs. 2 each (i.e. 300%) for the financial year ended 31st March 2023. The dividend payout is subject to the Members' approval at the forthcoming 33rd Annual General Meeting ('AGM') of the Company. 2. The 33rd Annual General Meeting ('AGM') of the Company will be held on Friday, 28th July 2023.28-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Change in Directorate
Re-appointment of Mr. Milind Sarwate (DIN:00109854) as an Independent Director on the Board of the Company, subject to approval of shareholders28-04-2023
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Change in Directorate
Pursuant to Regulation 30(6) read with Schedule III and other applicable provisions of the Listing Regulations, we hereby inform you that Mr. Amit Kumar Sinha (DIN: 09127387), Non-Executive Non-Independent Director of the Company, is liable to retire by rotation at the ensuing Annual General Meeting ('AGM') and is eligible for re-appointment. However, he does not seek re-appointment as a Director due to due to his transition to a new role in Mahindra Group i.e. he has been appointed as the Managing Director and CEO of Mahindra Lifespace Developers Limited w.e.f. 23rd May 2023 and accordingly he would cease to hold office as a Director of the Company at the close of the ensuing AGM, which is scheduled to be held on 28th July 2023. The Board has taken note of the same today.28-04-2023
Q4FY23 Quarterly & FY23 Annual Result Announced for Mahindra & Mahindra Financial Services Ltd.
Mahindra & Mahindra Financial Services announced Q4FY23 &FY23; results: Standalone Q4FY23: Disbursement for Q4FY23 at Rs 13,778 crore was up 50% on YoY basis. Consequently, the Loan Book increased by 27% to Rs 82,770 crore on YoY basis Total Income was at Rs 3,057 crore, up 24% YoY. Net Interest Margin for the quarter was at 7.4%; Net Interest Income (NII) at Rs 1,723 crore was up 13% YoY. The company reported Profit after Tax (PAT) of Rs 684 crore for the quarter, a growth of 14% YoY. The Company’s Capital Adequacy was healthy at 22.5%. Consolidated Q4FY23: Total Income increased by 22% to Rs 3,536 crore for the quarter, as against Rs 2,897 crore for Q4FY22 The Profit After Tax (PAT) at Rs 675 crore was up 7% compared to Rs 629 crore for Q4FY22. Standalone FY23: The annual disbursement of Rs 49,541 crore registered a growth of 80% Total Income grew by 14% to Rs 11,056 crore, as against Rs 9,719 crore FY22 The Profit after tax was reported at Rs 1,984 crore, as against Rs 989 crore FY22, a growth of 101% Consolidated FY23: Total Income increased by 13% to Rs 12,832 crore as against Rs 11,401 crore FY22. The Profit after tax at Rs 2,071 crore grew 80% over FY22 which reported a Profit after Tax of Rs 1,150 crore. The Board has recommended a dividend of Rs 6.00 per share on equity share of Rs.2/- each, i.e. 300%, subject to the approval of the Members at the ensuing 33 rd Annual General Meeting of the Company. This translates to a dividend pay-out ratio of 37% for FY23 (FY22: 45%). Result PDF28-04-2023