M&M Financial Services surges 9% on healthy business growth in Q2FY23
In October 2022, Mahindra Finance estimates the total disbursement of approximately Rs 5,250 crore, thus delivering 97 per cent growth over October 2021.03-11-2022
03-11-2022
Q2FY23 Quarterly Result Announced for Mahindra & Mahindra Financial Services Ltd.
Mahindra & Mahindra Financial Services announced Q2FY23 results: Standalone Q2FY23: Loan book increased by 9.0% to Rs 73,817 crore compared to Q1FY23 aided by an increase in disbursements. Disbursement for the quarter at Rs 11,824 crore was up 83% YoY GS 3 substantially improved to 6.7% from 8.0% last quarter (Q1FY23), supported by focused collection initiatives, timely settlements and macro tailwinds Total income was at Rs 2,609 crore, up 3% YoY. Net Interest Margin for the quarter was healthy at 7.5%; Net Interest Income (NII) at Rs 1,540 crore was up 2% YoY The company reported a PAT of Rs 448 crore during Q2FY23. The Q2FY22 witnessed a significant reversal of impairment provisions as a result of improvement in asset quality which had deteriorated during Q1FY22 due to second wave of Covid-19. This resulted in a PAT of Rs 1,023 crore for Q2 FY22. H1 FY23 PAT was at Rs 671 crore vs a loss of Rs 506 crore in H1 FY22 The Company’s Capital Adequacy stood at a healthy 23.8%. Provision coverage on Stage 3 loans was maintained at 58.2% As of September end, the company carried a total liquidity buffer of approximately Rs. 10,600 crore - covering more than 3.5 months’ obligations Standalone H1FY23: Total Income grew by 8% at Rs 5,108 crore during the half year ended September 30, 2022, as against Rs 4,709 crore during the corresponding H1FY22 Profit after tax stood at Rs 671 crore during the half year ended September 30, 2022, as against a Loss (after Tax) of Rs 506 Crore during the corresponding H1FY22 Consolidated Q2FY23: Total Income increased by 3% to Rs 3,029 crore during the quarter that ended September 30, 2022, as against Rs 2,951 crore during the corresponding H1FY22 Profit After Tax (PAT) stood at Rs 492 crore during the quarter that ended September 30, 2022, as against PAT of Rs 1,103 crore during the corresponding H1FY22 Consolidated H1FY22: Total Income increased by 8% to Rs 5,943 crore during the half-year ended September 30, 2022, as against Rs 5,517 crore during the corresponding H1FY22 PAT stood at Rs 732 crore during the half year ended September 30, 2022, as against a loss (after Tax) of Rs 470 crore during the corresponding H1FY22. Result PDF03-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015
In compliance with Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2021/662 dated 22nd November 2021 please find enclosed herewith the disclosure on Related Party Transactions of the Company, for the half year ended 30th September 2022.02-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Investor Presentation
In compliance with Regulation 30, Schedule III, Part A, Para A (15) and other applicable provisions of the Listing Regulations, please find enclosed herewith the updated Earnings Presentation with one change on slide no.25, to be made at earnings conference call scheduled on Thursday 3rd November 2022 at 12.00 noon (IST) encompassing, inter-alia, summary of the Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended 30th September 2022, highlights of the quarter and other updates.02-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Updates For The Month Of October 2022
You are requested to take note of the following updates for the month of October 2022: In October 2022, we estimate the total disbursement of approximately Rs. 5,250 Crores, delivering 97% growth over October 2021. The collection efficiency (CE) was at 91% for October 2022, similar to the CE reported for October 2021. The Gross Stage 3 (GS 3) as at October end is estimated at 7.0%. Based on the IRACP norms, the GNPA is higher by approximately Rs. 900 Crores, as at October end, in comparison to GS 3 (under IND-AS). As per Company's assessment, there may not be any requirement of making additional provisions during FY23 on account of IRACP migration. The Company continued to hold adequate liquidity buffer which covers ~ 4 months' funds requirement.02-11-2022
Mahindra Finance Q2 PAT nearly halves to 448 cr, in-line with estimates
In Q2FY23, Net interest income stood at 1,540 crore up by 2% yoy, while total income stood at 2,609 crore higher by 3% yoy. Net interest margin (NIM) came in healthy at 7.5%.02-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Investor Presentation
Earnings Presentation for the second quarter and half year ended 30th September, 2022 - Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 ('Listing Regulations')02-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release - Unaudited Financial Results of the Company for the second quarter and half year ended 30th September 202202-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Outcome Of The Board Meeting - Unaudited Standalone And Consolidated Financial Results Of The Company For The Second Quarter And Half Year Ended 30Th September 2022
Unaudited Standalone and Consolidated Financial Results for the second quarter and half year ended 30th September 2022 along with unmodified/ Clean Limited Review Report thereon, issued by the Joint Statutory Auditors of the Company viz. M/s. Deloitte Haskins & Sells, Chartered Accountants and M/s. Mukund M. Chitale & Co., Chartered Accountants; 2. Extract of the newspaper publication of the Unaudited Standalone and Consolidated Financial Results for the second quarter and half year ended 30th September 2022, in the prescribed format, to be published in the print and electronic versions of the newspapers.02-11-2022
MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. - 532720 - Outcome Of The Board Meeting - Unaudited Standalone And Consolidated Financial Results Of The Company For The Second Quarter And Half Year Ended 30Th September 2022
Unaudited Standalone and Consolidated Financial Results for the second quarter and half year ended 30th September 2022 along with unmodified/ Clean Limited Review Report thereon, issued by the Joint Statutory Auditors of the Company viz. M/s. Deloitte Haskins & Sells, Chartered Accountants and M/s. Mukund M. Chitale & Co., Chartered Accountants; 2. Extract of the newspaper publication of the Unaudited Standalone and Consolidated Financial Results for the second quarter and half year ended 30th September 2022, in the prescribed format, to be published in the print and electronic versions of the newspapers.02-11-2022