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Mahindra & Mahindra Financial Services Ltd share Price Today

Company details

261.15
264.95
237.35
346.55
6M Return -3.80%
1Y Return -7.61%
Mkt Cap.(Cr) 32,543.86
Volume 1,525,197
Div Yield 2.38%
OI
-
OI Chg %
-
Volume 1,525,197

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Mixed performance; focus on FY25 roadmap…
About The Stock

    Mahindra & Mahindra Financial Services (MMFS) is primarily into a vehicle financing business (e.g. new pre owned auto, utility vehicles, tractors, passenger cars and commercial vehicles). As of June 2022, MMFS has a network of 1384 branches spread across in India.

    • The main focus of MMFS is in rural and semi urban areas
    • MMFS also present in housing, insurance and AMC via its subsidiaries
Q4FY23

    M&M Financial Services reported a mixed performance.

    • Loan book was up 27% YoY, 7% QoQ led by 80% YoY growth in disbursements
    • NII up 10.2% YoY, NIMs declined 36 bps QoQ at 8%, C/I inched up at ~45%
    • Significant decline in provision resulted in PAT growth of 14% YoY at ₹ 684 crore. Stage-3 assets improved 140 bps QoQ to 4.5%. Collection efficiency was at 99%

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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

View Other Company Results

Mahindra & Mahindra Financial Services Ltd shares SWOT Analysis

Strengths (9)

  • Rising Net Cash Flow and Cash from Operating activity
  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Growth in Net Profit with increasing Profit Margin (QoQ)

Weakness (5)

  • Red Flag: High Interest Payments Compared to Earnings
  • MFs decreased their shareholding last quarter
  • Poor cash generated from core business - Declining Cash Flow from Operations for last 2 years

Opportunity (0)

Data not found

Threats (2)

  • Increasing Trend in Non-Core Income
  • Increase in Provisions in Recent Results

Resistance and support

R1 265.2
R2 267.0
R3 269.0
Pivot

263.17

S1 261.4
S2 259.4
S3 257.6
EMA SMA
265.3
271.8
275.8
275.8
261.0
274.0
278.2
280.5
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-10-25 204.35 1281301 BSE
ISHARES MSCI INDIA SMALL-CAP ETF Block Purchase 2022-10-25 204.35 189619 BSE
ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 2022-10-25 204.35 1281301 BSE
Name Category Shares
MAHINDRA & MAHINDRA LIMITED PROMOTER 52.16%

OUR RESEARCH VIEW

Investment recommendation
Mixed performance; focus on FY25 roadmap…
Call Date
08 May 2023
Entry Price 286.00
Target Price 330.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Mahindra & Mahindra Financial Services Ltd Stocks COMPARISON

Financials( in Cr) Mahindra & Mahindra Financial Services Ltd Bajaj Finance Ltd Bajaj Finserv Ltd Indian Railway Finance Corporation Ltd Jio Financial Services Ltd
Price 263.40 6,742.85 1,582.55 179.45 357.75
% Change -0.15 0.23 -0.14 6.18 0.15
Mcap Cr 32,543.86 417,379.72 252,494.11 234,514.34 227,288.74
Revenue TTM Cr 12,827.90 41,398.35 82,071.70 23,891.95 44.84
Net Profit TTM Cr 2,071.20 11,507.69 12,209.54 6,337.01 31.25
PE TTM 16.90 28.85 31.06 37.49 143.18
1 Year Return -7.61 -0.69 11.81 429.35 43.73
ROCE 8.82 11.76 12.69 5.32 0.03
ROE 11.68 23.46 28.18 14.66 0.02
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 18,560.09 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 45,096.27 -32,431.93
LAST 3M 103,643.75 -39,912.42
LAST 6M 170,661.45 50,171.66
LAST 12M 264,707.07 127,969.33

Mahindra & Mahindra Financial Services Ltd Information

Stock PE (TTM)
16.9
Promoter Holding
52.16%
Book Value
161.328
ROCE
8.82%
ROE
11.68%
Description
  • Mahindra & Mahindra Financial Services Limited (MMFSL) is one of the leading Non-Banking Finance Companies (NBFCs) with customers primarily in the rural and semi-urban markets of India. It is part of the Mahindra Group, which is one of the largest business conglomerates in India. The Company is primarily engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. It provides housing finance, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. It has a distribution network with 1,386 offices spanning across 27 States and 7 Union Territories as on 31st March 2023. MMFSL`s insurance broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services. Another subsidiary Mahindra Rural Housing Finance Limited (MRHFL) provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country. Mahindra Asset Management Company Private Limited (MAMCPL), a wholly-owned subsidiary of MMFSL, is acting as the Investment Manager of Mahindra Mutual Fund. MMFSL also has a JV in US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US. M&M FSL was incorporated on 1st January 1991 as Maxi Motors Financial Services Limited. M&M FSL had received Certificate of Commencement of Business on 19th February of the year 1991. The Company`s name was changed from Maxi Motors Financial Services Limited to Mahindra & Mahindra Financial Services Limited on November 3, 1992. During the year 1993, the Company had commenced financing of M&M Utility Vehicles as part of its work. M&M FSL had opened its first branch outside Mumbai, at Jaipur in the year 1995. Financing to M&M dealers for purchase of tractors was added to the company`s activities in the year 1996. M&M FSL had registered with the Reserve Bank of India (RBI) as a Non Banking Finance Company (NBFC) with effect from 4th September of the year 1998. Also in the same year of 1998, the company had launched pilot project for retail tractor financing. After a year, in 1999, M&M FSL had started tractor retail financing in rural and semi-urban areas. During the year 2002, apart from its parent company vehicles, the company started to financing of non-M&M vehicles and also in the same year, received Tier II debt from International Finance Corporation. In November of the year 2003, in recognition of its global competitiveness in terms of cost and quality, M&M received the Deming Prize awarded by the Japanese Union of Scientists & Engineers. M&M is the first tractor manufacturer in the world to receive this prize. M&M FSL had received a long-term credit rating of AA /Stable in the year 2004 and had opened a branch in Port Blair during the same year of 2004. During the year 2005, the company made tie up with Hindustan Petroleum Corporation Limited (HPCL) and formed Mahindra Insurance Brokers Ltd (MIBL) as a wholly owned subsidiary to undertake the insurance and related activities. The company had issued Initial Public Offerings (IPO) in the year of 2006. Also in the same year, M&M FSL made a tie up with Maruti to provide finance to all of the latter`s products, launched its marketing campaign and reached a new benchmark with 400 branches. M&M FSL won the `Pioneer Award` in the individual category of the Enterprise Connect Award 2007, instituted by Cybermedia India Online Ltd (CIOL) and Dataquest. As part of diversification, the company had forayed into the business of rural housing finance with the incorporation of Mahindra Rural Housing Finance Limited (MRHFL) on 9th April 2007, as the second wholly owned subsidiary. M&M FSL had honored with the Amity HR Excellence Award for Retention by the Amity Business School, Noida in August of the year 2008. In 2010, the company added More than 2 lakh new customer contracts in a financial year for the first time. And the company`s branch network also crossed 550 branches. In 2011, the company came out with a QIP Issue. The company also entered into a Joint Venture with with Rabobank subsidiary for tractor financing in USA. In 2012, the company won the inaugural porter prize in the category of Creating Distinctive Value and also first runners up at CNBC TV18 Best Bank & Financial Institution awards. In 2013, the company & Mahindra Finance sign MOU for Joint Venture. During 2015, the company wins the Golden Peacock National Training Award. On 30th September 2015, Mahindra and Mahindra Financial Services Ltd (MMFSL) was successfully appraised and rated at Maturity Level 3 of the People Capability Maturity Model (People-CMM). People CMM is a framework for organizational change through streamlined people management. At maturity Level 3 of the People CMM, MMFSL has implemented robust HR processes and aligned itself to a competency framework. On 4 February 2016, Mahindra and Mahindra Financial Services Ltd (MMFSL) announced that its wholly owned subsidiary, Mahindra Asset Management Company Private Limited has received the approval from the Securities and Exchange Board of India (Sebi) to act as the asset management company to the Mahindra Mutual Fund, set up by the company. The Committee of Directors of Mahindra and Mahindra Financial Services Ltd (MMFSL) at its meeting held on 26 July 2017 approved the investment of an amount not exceeding Rs 25 crore in the equity share capital of Orizonte Business Solutions Limited (OBSL), in or more tranches. OBSL is operating the platform "SmartShift" which is a load exchange platform for small commercial vehicles. OBSL is a subsidiary of Mahindra & Mahindra. The Board of Directors of Mahindra and Mahindra Financial Services Ltd (MMFSL) at its meeting held on 6 October 2017 considered and approved the raising of funds by way of issue of equity shares or convertible securities subject to receipt of necessary approvals, if any, for an amount not exceeding Rs 2250 crore through any permissible mode as may be considered appropriate. On 16 October 2017, Mahindra Insurance Brokers Ltd. (MIBL) announced that XL Group, through its subsidiaries, will acquire a 20% minority stake in the company, subject to satisfaction of customary closing conditions by all stakeholders. The existing shareholder in MIBL, LeapFrog Financial Inclusion Fund, through its subsidiary Inclusion Resources Private Ltd (IRPL), currently holds a 15% equity stake in MIBL. It will purchase an additional 5% stake in MIBL from Mahindra & Mahindra Financial Services Ltd. (MMFSL) (taking its total equity stake in MIBL to 20%), and immediately sell the entire capital of IRPL to XL Group, subject to necessary regulatory approvals. XL Group, through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. MIBL is a leading insurance broker primarily serving rural and semi-urban India. MIBL is a subsidiary of MMFSL. On 1 November 2017, Mahindra & Mahindra Financial Services Limited (MMFSL) announced that its Board of Directors approved the issue of equity shares through the Qualified Institutions Placement (QIP) route for upto 2.4 crore equity shares/securities convertible into equity shares and a preferential issue to Mahindra & Mahindra Limited (M&M) for up to 2.5 crore equity shares. The pricing for the same shall be in compliance with the pricing formula under SEBI regulations. Issuance of shares under QIP will enable the company in diversifying its investor base. With investment by M&M through the preferential issue, MMFSL shall continue to remain a subsidiary of M&M and effectively leverage the strategic and financial synergies. The capital to be raised shall be used for business growth and funding requirements, investment in its subsidiaries and joint venture, strengthening its capital adequacy and for general corporate purposes. During the 2018-19, Company strengthened its pan-India presence with a network of 1,321 offices. It also launched Suvidha Loans to meet specific needs of its existing customers through its numerous Branches. It expanded its reach in the Micro Small and Medium Enterprises (MSME) segment, whose Assets Under Management (AUM) crossed more than Rs. 3,655.90 Crores. During the year under review, the activity of distribution of Mutual Fund Products (MFP) was carried out across 160 branches covering 24 States. During the 2019-20, Company signed a Joint Venture (JV) with Ideal Finance Limited (IFL), Sri Lanka. During the year under review, the activity of distribution of Mutual Fund Products (MFP) was carried out across 163 branches covering 24 States. During the year 2020-21, Company enhanced footprint by adding 156 new branches to its network. During year 2022, Company launched its Leasing and Subscription platform `Quiklyz` which facilitates customers to access new cars without the hassle of car ownership. It launched a special business unit (SBU) for its digital finance lending business to focus on consumer durables and personal loans. With 7 new branches opened during the year, the Company increased its footprint to 27 locations in the island nation as on March 31, 2023. The Company launched specialised end to end journey named `Used Car Digi Loans` to enable customers to get customised loan offers from the Company enabling them to take faster buying decisions. It expanded ML/AI penetration through business intelligence dashboards and insights which have aided in rolling out business and strategic business initiatives.

Registered Address

Gateway Building, Apollo Bunder, Mumbai, Maharashtra, 400001

Tel : 91-22-22895500
Email : investorhelpline_mmfsl:mahindra.com
Website : http://www.mahindrafinance.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 532720
NSE Code : M&MFIN
Book Closure Date (Month) : Jul
BSE Group : A
ISIN : INE774D01024

FAQ’s on Mahindra & Mahindra Financial Services Ltd Shares

You can buy Mahindra & Mahindra Financial Services Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Mahindra & Mahindra Financial Services Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 21, 2024 04:06 PM the closing price of Mahindra & Mahindra Financial Services Ltd was Rs.263.40.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 21, 2024 04:06 PM, the market cap of Mahindra & Mahindra Financial Services Ltd stood at Rs. 32,543.86.

The latest PE ratio of Mahindra & Mahindra Financial Services Ltd as of May 21, 2024 04:06 PM is 16.90

The latest PB ratio of Mahindra & Mahindra Financial Services Ltd as of May 21, 2024 04:06 PM is 0.61

The 52-week high of Mahindra & Mahindra Financial Services Ltd share price is Rs. 346.55 while the 52-week low is Rs. 237.35

According to analyst recommendations, Mahindra & Mahindra Financial Services Ltd Share has a "Buy" rating for the long term.

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