Mahindra Finance November month disbursement rise by 17% YoY, Collection efficiency at 94%.

Updated: December 02, 2021, 07:36 PM IST

Mahindra & Mahindra Financial Services announced that, In November 2021, the business continued its momentum with a disbursement of Rs. 2,500 Crore delivering 17% Year-on-Year growth. The Collection Efficiency too improved further to 94%, up both Year-on-Year (November 2020 - Collection Efficiency was 84%) and sequentially (October 2021 - Collection Efficiency was 91%). This improved customer payment behaviour has reflected in a month-on-month reduction in Stage 2 and stability in Stage 3, compared to October 2021. The Company expects this positive trend to continue in December. This will aid in further reduction in Stage 2 and Stage 3 contracts by December end.

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet as at November 2021 end, with a liquidity chest of well over 3.5 months.

DISCLAIMER: This information is published as per the press release sent to us. It has not been verified or ratified by OVERDRIVE.

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