Mumbai:Mahindra & Mahindra Financial Services announced that it disbursed about INR 4080 crore In September 2022, posting a growth of 110% Y-o-Y, mainly owing to the macro tailwinds. This translates to a Y-o-Y growth of 82% in Q2 FY23 and 106% for H1 FY23. The first half is estimated to clock a disbursement of approximately INR 21,300 crore.
Healthy disbursement trends during the first half have led to a strong gross asset book of INR 73,900 crore, growing ~3% month on month. This has also resulted in Y-o-Y growth of ~16% vs. September last year and ~14% vs. March2022, the company said in a media release..
The collection efficiency (CE) was at 98% in September 2022, against 96% in August 2022.
The asset quality further improved during the month and the quarter. As on September 30, 2022, its gross stage 3 is estimated to be around 7% (compared to 8% as of June 30, 2022) and gross stage 2 to be around 10% (compared to 11.7% as of June 30, 2022).
The company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over 3 months.