Mahindra & Mahindra Financial Services announced that in month of February 2023, the company estimates the total disbursement of approximately Rs. 4,185 crore, delivering 53% growth over February 2022. Consequently, the Loan Book grew further by 1.5% over January 2023.
The collection efficiency (CE) was at 97% for February 2023 compared to 98% achieved in February 2022.
The Gross Stage 3 (GS-3) as at February end is maintained at similar levels compared to January 2023. Gross Stage 2 (GS-2) has seen further improvement sequentially.
Based on the Income Recognition, Asset Classification and Provisioning norms, the gap between Gross Non-Performing Assets and IND-AS remained range-bound at approximately Rs.1,250 crore, an improvement over January 2023.
The Company continued to hold adequate liquidity buffer which covers ~ 3 months' funds requirement.
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