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Mahindra & Mahindra Financial Services Results: Latest Quarterly Results & Analysis

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Mahindra & Mahindra Financial Services Ltd. 22 Jul 2025 15:12 PM
Result PDF

Q1FY26 Quarterly Result Announced for Mahindra & Mahindra Financial Services Ltd.

Finance company Mahindra & Mahindra Financial Services announced Q1FY26 results

  • Total Income: Rs 5,013 crore compared to Rs 4,355 crore during Q1FY25, change 15%.
  • PAT: Rs 529 crore compared to Rs 497 crore during Q1FY25, change 6%.
  • Capital Adequacy healthy at 20.6%, Tier-1 Capital @17.9%. Provision coverage on Stage 3 loans prudent at 51.4 %. Total liquidity buffer comfortable at over ~ Rs 10,100 crore.
  • Mahindra Finance recorded disbursements of Rs 12,808 crore, reflecting a 1% YoY growth.
  • MMFSL’s Asset quality remained within the guided range, with GS3 at 3.8% and GS2 GS3 at 9.7%.
  • The credit cost for quarter ended June 30, 2025, was at 1.9%.

Result PDF

Result PDF

Finance company Mahindra & Mahindra Financial Services announced Q4FY25 results

Q4FY25 Consolidated Financial Highlights:

  • Total Income: Rs 4,897 crore compared to Rs 4,333 crore during Q4FY24, change 13%.
  • PAT: Rs 456 crore compared to Rs 671 crore during Q4FY24, change -32%.

Q4FY25 Standalone Financial Highlights:

  • Total Income: Rs 4,245 crore compared to Rs 3,706 crore during Q4FY24, change 15%.
  • Net Interest Income: Rs 2,156 crore compared to Rs 1,971 crore during Q4FY24, change 9%.
  • PAT: Rs 563 crore compared to Rs 619 crore during Q4FY24, change -9%.
  • ROA: 1.7% for Q4FY25.
  • Asset quality: GS2 GS3 @ 9.1%. Stage-3 @ 3.7%.
  • Capital Adequacy healthy at 18.3%, Tier-1 Capital @15.2%. Provision coverage on Stage 3 loans prudent at 51.2 %. Total liquidity buffer comfortable at ~ Rs 10,400 crore.

Result PDF

Finance company Mahindra & Mahindra Financial Services announced Q3FY25 results

Financial Highlights:

  • AUM (Business assets): Rs 1,15,126 crore v/s Rs 97,048 crore, YoY 19%.
  • While Market Share in Tractors was stable there was stiff competition in Passenger Vehicle, CV and Used vehicle business.
  • Asset quality: GS2 GS3 @ 10.2%. Stage-3 @3.9%. Credit Cost: 0.0% v/s 1.2% (Q3FY24).
  • Capital Adequacy healthy at 17.8%, Tier-1 Capital @ 15.1%. Provision coverage on Stage 3 loans prudent at 50.1%. Total liquidity buffer comfortable at Rs 9,322 crore.

Operational Highlights:

  • The collection efficiency remained stable at 95%, consistent with the same quarter of the previous year.
  • Stage 3 assets stood at 3.9%, versus 4.0% as of December 31, 2023, while Stage 2 assets were at 6.3%, compared to 6.0% on the same date. 
  • During the third quarter of the year, the Company saw 5% YoY growth in disbursements for Wheels, while business assets grew by 18% YoY. Tractor financing segment disbursements grew by 24% YoY in Q3FY25.
  • The non-vehicle finance portfolio grew by 27% over the past year. 
  • During the quarter, the SME segment delivered a Disbursement growth of 60% YoY (9MFY25 YoY growth: 60%), which drove asset book expansion by 20% on a YoY basis and was at Rs 5,464 crore as of December 31, 2024.
  • Leasing disbursement grew 51% YoY in Q3FY25 & 36% YoY in FY25 YTD.

Result PDF

Finance company Mahindra & Mahindra Financial Services announced Q2FY25 results

Financial Highlights:

  • Q2 FY25 PAT grows 57% YoY to Rs 369 crore v/s Rs 235 crore
  • AUM (Business assets): Rs 1,12,454 crore v/s Rs 93,723 crore, YoY growth 20%.
  • Disbursement: Rs 13,162 crore v/s Rs 13,315 crore, YoYgrowth -1%; YoY growth 2% for H1 FY25.
  • Total Income: Rs 3,925 crore v/s Rs 3,240 crore, YoY growth 21%; PPOP: YoY growth 27%.
  • Stable Market Share in Passenger Vehicles and Tractors.
  • Asset quality: GS2 GS3 @ 10.3%. Stage-3 @3.8%. Credit Cost:2.3% v/s 2.4% (Q2FY24).
  • Capital Adequacy healthy at 16.7% - Tier-1 Capital @ 14.8%. Provision coverage on Stage 3 loans prudent at 59.5%. Total liquidity buffer comfortable at Rs 8,912 crore

Operations Highlights:

  • As of Q2FY25, Business Assets stand at Rs 1,12,454 crore, reflecting a 20% YoY growth. As growth in various Wheels segments viz. passenger vehicles, commercial vehicles etc. slowed down, the disbursements for the first half of FY25 were Rs 25,903 crore, a relatively muted growth of 2% YoY. Disbursements for Q2FY25 were Rs 13,162 crore.
  • The collection efficiency remained stable at 96%, consistent with the same quarter of the previous year. The Company continued its focus on enhancing underwriting standards and addressing early-stage delinquencies. Stage-3 assets were at 3.8%, an improvement over 4.3% a year ago. Sequentially, there has been some uptick (June end stage-3 assets at 3.6%). About 40% of this increase was contributed by Tractor segment. With Kharif cashflows, the Company expects normalization in Q3FY25. Stage-2 and Stage-3 assets put together were at 10.3%.

Result PDF

Finance company Mahindra & Mahindra Financial Services announced Q1FY25 results:

  • Q1FY25 PAT grows 45% YoY to Rs 513 crore v/s Rs 353 crore - ROA of 1.8%
  • AUM (Business assets): Rs 1,06,339 crore v/s Rs 86,732 crore, YoY increase of 23%
  • Disbursement: Rs 12,741 crore v/s Rs 12,165 crore, YoY increase of 5%
  • Total Income: Rs 3,760 crore v/s Rs 3,125 crore, YoY increase of 20%
  • Continued leadership in Passenger vehicles, Pre-owned vehicles and Tractors.
  • Stable Asset quality: GS2% GS3% < 10%. Stage-3 @3.6%. Credit Cost:1.5% v/s 2.1% (Q1FY24)
  • Capital Adequacy healthy at 18.5% - Tier-1 Capital @ 16.4%. Provision coverage on Stage 3 loans prudent at 59.8%. Total liquidity buffer comfortable at ~Rs 8,216 crore

Result PDF

Finance company Mahindra & Mahindra Financial Services announced Q4FY24 results:

Financial Highlights:

Standalone:

  • AUM (Business assets) crosses 1 Lakh crore, Rs 1,02,597 crore, YoY increase of 24%
  • Disbursement: FY24 Rs 56,208 crore, YoY increase of 13%. Q4FY24 Rs 15,292 crore, YoY increase of 11%
  • Continued Leadership in Wheels: Passenger vehicles, Pre-owned vehicles and Tractors.
  • NII margins improved QoQ 7.1% vs 6.8%. FY24 YoY 6.8% vs 7.6%
  • Robust Asset quality: GS2% GS3% < 9%. Stage-3 @3.4% vs. 4.0% in Dec-2023
  • Credit Cost: YoY 1.7% vs 1.2%. (FY24 target 1.5% – 1.7% achieved)
  • A one-time provision of Rs 136 crore towards fraud at one of the Company’s branches
  • Capital Adequacy healthy at 18.9% - Tier-1 Capital @ 16.4%. Provision coverage on Stage 3 loans remained prudent at 63.2%. Total liquidity buffer comfortable at ~Rs. 7,950 crore

Consolidated:

  • Total Income rose to Rs 4,333 crore in Q4FY24 from Rs 3,536 in Q4FY23.
  • Profit after tax fell to Rs 671 crore in Q4FY24 from Rs 675 crore in Q4FY23.
  • Mahindra Insurance Brokers: Total Income > Rs 1,000 crore, PAT > Rs 100 crore
  • Mahindra Rural Housing: Asset Quality improvement: Gross Stage 3 @ 9%
  • Mahindra Manulife: AUM crosses Rs 20,000 crore (On 1st April 2024)

Result PDF

Non-banking Financial company Mahindra & Mahindra Financial Services announced Q2FY24 & H1FY24 results:

1. Financial Performance:
- Disbursement growth in Q2FY24 was 13% YoY, with a sequential growth of 9%.
- Loan book increased to Rs 93,723 crore, reflecting a YoY growth of 27% and a sequential growth of 8.1%.
- Gross Stage 3 (GS 3) remained stable at 4.3% compared to Q1FY24 (6.7% in Q2FY22).
- Revenue was Rs 6,366 crore, indicating a YoY growth of 25% in H1FY24.
- Profit after tax (PAT) for Q2FY24 was Rs 235 crore, a decline from Rs 448 crore in the previous year due to provision reversals.

2. Standalone Results:
- Net interest income in Q2FY24 increased by 9% YoY to reach Rs 1,674 crore, with a net interest margin of 6.5%.
- Credit cost during Q2FY24 was Rs 627 crore (2.4% of average assets) compared to Rs 198 crore (1.0%) in Q2FY23.
- Capital adequacy ratio remained healthy at 18.7%.
- Liquidity buffer of approximately Rs 8,300 crore was maintained, covering over 2.5 months' gross obligation.

3. Consolidated Results:
- Total income for Q2FY24 increased by 28% to Rs 3,863 crore, with a PAT of Rs 287 crore.
- Total income for H1FY24 increased by 26% to Rs 7,500 crore, with a PAT of Rs 649 crore.

4. Operations:
- Disbursement growth in Q2 was broad-based, with a YoY growth of 13% and a sequential growth of 9%.
- Collection efficiency remained strong at 96%.
- Asset quality was maintained, with Stage-3 assets at 4.3% and Stage-2 assets improving to 5.7%.
- Company's market share in various segments was maintained.
 

 

 

Result PDF

  Mahindra & Mahindra Financial Services announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Total income increased by 25% at Rs 3,637 crore during Q1FY24, against Rs 2,914 crore during Q1FY23.
    • The PAT stood at Rs 362 crore during Q1FY24, as against Rs 240 crore during Q1FY23.
    • The balance sheet remains strong with Capital adequacy at 21.2%.
  • Standalone Q1FY24:
    • Total income was at Rs 3,125 crore for Q1FY24, an increase of 25% YoY aided by growth in asset book.
    • Disbursement at Rs 12,165 crore; growth 28% YoY
    • Loan book of Rs 86,732 crore; YoY growth of 28%; sequential growth of 5%
    • Gross stage 3 at 4.3% vs 8.0% in Q1FY23; Net Stage 3 at 1.8% vs 3.5% in Q1FY23
    • Net interest margin for Q1FY24 was at 6.8%; net interest Income at Rs 1,675 crore increased by 7% YoY, impacted by the change in portfolio mix and increased interest costs.
    • PAT was at Rs 353 crore for Q1FY24 as against Rs 223 crore during Q1FY23, a growth of 58% YoY
    • Capital adequacy is healthy at 21.2%. Provision coverage on Stage 3 loans is maintained at 60.1%.
    • As of June end, the Company carried a total liquidity buffer of approximately Rs 9,350 crore - covering 3 months’ obligations.

 

Result PDF

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 PDF

Mahindra & Mahindra Financial Services announced Q3FY23 results:

Standalone Q3FY23:

  • Continued & steady improvement in asset quality – gross stage 3 improves to 5.9% (6.7% in Q2 FY23) and gross stage 2 improves to 8.4% (9.7% in Q2 FY23). Provision coverage on Stage 3 loans was maintained at 59.0%.
  • Loan book increased by 21% to Rs 77,344 crores compared to Q3FY22. Disbursement for the quarter at Rs 14,467 crores was up 80% on YoY basis.
  • Total income was at Rs 2,892 crores, up 14% YoY. Net interest margin for the quarter was at 7.4%; Net Interest Income (NII) at Rs 1,650 crores was up 7% YoY.
  • The company reported PAT of Rs 629 crores during the quarter. 9MFY23 PAT was at Rs 1,300 crores vs Rs 388 crores in 9MFY22, a growth of 235%. Third quarter of the previous year continued with a significant reversal of impairment provisions as a result of improvement in asset quality which had deteriorated during Q1FY22 due to the second wave of Covid-19. This resulted in a PAT of Rs 894 crores for Q3FY22.
  • The company’s capital adequacy stood at a healthy 23.4%.
  • As of December end, the company carried a total liquidity buffer of approximately Rs 10,800 crores - covering more than 3 months’ obligations.

Consolidated Q3FY23:

  • Total income increased by 12% to Rs 3,353 crores during Q3FY23, as against Rs 2,986 crores during the corresponding quarter last year.
  • The Profit After Tax (PAT) stood at Rs 664 crores during Q3FY23, as against PAT of Rs 992 crores during the corresponding quarter last year.

 

 

Result PDF

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