Mahindra Finance November month disbursement rise by 17% YoY, Collection efficiency at 94%.
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.
- Top 5 best-selling cars in India December 2021 - Maruti Suzuki and Tata Motors cover top spots
- 2022 Tata Safari Dark Edition launched in India, prices start from Rs 19.05 lakh
- India-spec 2022 Toyota Hilux unveiled ahead of March 2022 launch
- Toyota to launch Creta-rivalling SUV in 2022 with Maruti Suzuki, new MPV in 2023
- 2022 Tata Tiago iCNG and Tigor iCNG: Prices and variants explained