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Business assets stood at approximately Rs 1,46,300 crore as of September 2026, registering growth of around 15% compared with September 2025. Business assets broadly represent the company's lending portfolio and other assets generated through its lending operations.
Collection efficiency improved to an estimated 97% in Q2 FY27 from 96% in Q2 FY26.
Collection efficiency measures the proportion of amounts due that the company successfully collects from borrowers. A higher collection efficiency generally indicates better repayment behaviour among borrowers and supports asset quality.
Asset quality also improved year-on-year. Stage-3 assets were estimated at 3.35%-3.45% as of 30 September 2026, compared with 3.45% as of 30 June 2026 and 3.94% as of 30 September 2025. Stage-2 assets were estimated at 4.7%-4.8%, compared with 4.9% at the end of June 2026 and 5.8% a year earlier.
Stage-3 assets broadly represent loans that have become credit-impaired and are associated with a significant risk of loss. Stage-2 assets are loans where credit risk has increased significantly since the loan was originated but which have not yet become credit-impaired. The decline in Stage-2 and Stage-3 assets compared with a year earlier indicates an improvement in the company's reported asset-quality metrics.
Mahindra & Mahindra Financial Services said it continued to maintain a comfortable liquidity position, with a liquidity chest of more than Rs 16,200 crore.
Mahindra & Mahindra Financial Services is an NBFC within the Mahindra Group, with a focus on vehicle and tractor financing. It also operates in SME lending, mortgages, insurance and investment solutions, primarily serving rural and semi-urban markets. The company has 1,348 offices and serves customers across 5.18 lakh villages and 8,000 towns in India.
On a consolidated basis, total income increased 14% year-on-year to Rs 5,725 crore in Q1 FY27 from Rs 5,013 crore in Q1 FY26. Profit after tax (PAT) rose 75% YoY to Rs 927 crore from Rs 529 crore.
Business assets stood at approximately Rs 1,46,300 crore as of September 2026, registering a growth of around 15% compared with September 2025. The company's collection efficiency (CE) is estimated at 97% for Q2 FY27, compared with 96% in the corresponding quarter of the previous year.
As of 30 September 2026, Stage-3 assets are estimated to be in the range of 3.35% to 3.45%, compared with 3.45% as of 30 June 2026 and 3.94% as of 30 September 2025. Stage-2 assets are estimated at 4.7% to 4.8% as of 30 September 2026, against 4.9% as of 30 June 2026 and 5.8% a year earlier.
The company said that it continued to maintain a comfortable liquidity position on its balance sheet, with a liquidity chest of more than Rs 16,200 crore.
Mahindra & Mahindra Financial Services is one of India's leading non-banking finance companies, offering vehicle and tractor financing, SME lending, home loans, insurance and investment solutions, with a strong presence across rural and semi-urban India.
The company’s standalone net profit jumped 69.72% YoY to Rs 898.65 crore in Q1 FY27. Total income climbed 12.08% to Rs 4,973.95 crore in Q1 FY27, compared with Rs 4,437.75 crore in Q1 FY26.
The counter declined 1.46% to settle at Rs 320.10 on the BSE.
The same includes Base issue size of Rs. 1000 crore plus Green shoe subscription of Rs. 250 crore aggregating to Rs. 1250 Crore. The said NCDs have been issued at a Fixed Coupon of 7.95% p.a. and are proposed to be listed on the Wholesale Debt Market Segment of BSE.
The proposed merger is intended to consolidate the lending businesses of MMFSL and MRHFL into a single listed platform with a broader retail lending franchise, a simplified operating architecture, and enhanced operating leverage.
Pre-Provisioning Operating Profit (PPOP) increased 29.8% YoY to Rs 1,756 crore.
Net interest margin (NIM) increased 21.1% YoY to Rs 2,766 crore, while the NIM margin expanded to 7.3% from 6.7% a year ago.
Credit costs declined 13.6% YoY to Rs 570 crore, while the credit cost ratio improved to 1.5% from 1.9% in Q1 FY26.
Business assets under management (AUM) grew 12.7% YoY to Rs 1,37,449 crore, while quarterly disbursements rose 21.5% YoY to a record Rs 15,564 crore, driven by strong growth in tractor financing and passenger vehicles.
The company said tractor disbursements increased 45% YoY, while passenger vehicle disbursements grew 24% YoY. Non-vehicle finance disbursements, including Mahindra Rural Housing Finance (MRHFL), surged 79% YoY as the company continued to diversify beyond its core vehicle financing business. It added that digital and AI capabilities are improving customer acquisition, operational resilience and collection efficiency.
Asset quality improved during the quarter, with Stage 3 assets declining to 3.5% from 3.8% a year ago and Stage 2 assets improving to 4.9% from 5.9%. Collection efficiency remained steady at 95%.
Capital adequacy remained healthy at 18.5%, including Tier-I capital of 16.5%. The company maintained a prudent 58% provision coverage on Stage 3 assets and ended the quarter with a liquidity buffer exceeding Rs 14,650 crore.
Managing director and CEO Raul Rebello said the company's performance reflected the strength of its franchise, with continued expansion in profitability, resilient asset quality and progress on its growth strategy. He said investments in the core vehicle finance business, new growth engines and technology continue to support profitable and disciplined growth.
On a consolidated basis, total income increased 14.2% YoY to Rs 5,725 crore, while profit after tax rose 75.2% YoY to Rs 927 crore.
Data Patterns (India) Ltd, Mahindra & Mahindra Financial Services Ltd, Bajaj Auto Ltd and Aegis Vopak Terminals Ltd are among the other gainers in the BSE's 'A' group today, 22 July 2026.
Bluestone Jewellery & Lifestyle Ltd soared 10.71% to Rs 805.05 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 34 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one month.
Data Patterns (India) Ltd surged 9.02% to Rs 4623.7. The stock was the second biggest gainer in 'A' group. On the BSE, 1.41 lakh shares were traded on the counter so far as against the average daily volumes of 55570 shares in the past one month.
Mahindra & Mahindra Financial Services Ltd spiked 7.19% to Rs 375.85. The stock was the third biggest gainer in 'A' group. On the BSE, 34.9 lakh shares were traded on the counter so far as against the average daily volumes of 6.35 lakh shares in the past one month.
Bajaj Auto Ltd jumped 4.46% to Rs 10872. The stock was the fourth biggest gainer in 'A' group. On the BSE, 58967 shares were traded on the counter so far as against the average daily volumes of 21247 shares in the past one month.
Aegis Vopak Terminals Ltd exploded 4.40% to Rs 300.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.97 lakh shares in the past one month.
Mahindra & Mahindra Financial Services Ltd, CRISIL Ltd, Trident Ltd, Bandhan Bank Ltd are among the other stocks to see a surge in volumes on BSE today, 22 July 2026.
TVS Holdings Ltd witnessed volume of 2633 shares by 10:46 IST on BSE, a 10.62 times surge over two-week average daily volume of 248 shares. The stock increased 3.62% to Rs.14,772.15. Volumes stood at 620 shares in the last session.
Mahindra & Mahindra Financial Services Ltd witnessed volume of 26.18 lakh shares by 10:46 IST on BSE, a 7.29 times surge over two-week average daily volume of 3.59 lakh shares. The stock increased 9.11% to Rs.382.60. Volumes stood at 11.43 lakh shares in the last session.
CRISIL Ltd notched up volume of 27304 shares by 10:46 IST on BSE, a 7.13 fold spurt over two-week average daily volume of 3832 shares. The stock rose 4.99% to Rs.4,516.70. Volumes stood at 10667 shares in the last session.
Trident Ltd clocked volume of 31.02 lakh shares by 10:46 IST on BSE, a 6.79 times surge over two-week average daily volume of 4.57 lakh shares. The stock gained 2.39% to Rs.25.74. Volumes stood at 3.65 lakh shares in the last session.
Bandhan Bank Ltd witnessed volume of 39.28 lakh shares by 10:46 IST on BSE, a 6.77 times surge over two-week average daily volume of 5.80 lakh shares. The stock dropped 15.27% to Rs.176.75. Volumes stood at 4.8 lakh shares in the last session.