Mahindra & Mahindra Financial Services on Tuesday announced that the company has recorded Q4FY24 disbursements at about Rs 15,300 crore, up 11 per cent on-year. For the full year, the disbursement came in at approximately Rs 56,200 crore, registering a growth of 13 per cent YoY. For March 2024, the company estimates the overall disbursement at approximately Rs 6,100 crore, reporting a 9 per cent growth over the previous year.
The collection efficiency (CE) for March 2024 reduced to 101 per cent as compared to 105 per cent registered in March 2023, it said. During the quarter, CE stood at 98 per cent as against 99 per cent recorded in the same period a year ago.
Healthy disbursement trends during FY24, it said, have led to business assets at around Rs 1,02,400 crore as at March 31, 2024, posting a growth of about 24 per cent over March 31, 2023 and approximately 6 per cent over December 31, 2023.
In a regulatory filing, Mahindra & Mahindra Financial Services said that as at March 31, 2024, Stage-3 is estimated at about 3.3 per cent (vs. 4.0 per cent as at December 31, 2023 and 4.5 per cent as at March 31, 2023). Similarly, Stage-2 is estimated at around 5.1 per cent (vs. 6.0 per cent both as at December 31, 2023 and March 31, 2023).
The company reported a liquidity chest of over Rs 7,650 crore as at the end of March 2024.