M&M Finance shares hit 52-week high on 75% growth in August disbursements
Published On: Monday, September 5, 2022 | By: Team KnowMyStock
Shares of Mahindra & Mahindra Financial Services (MMFSL) hit a 52-week high of Rs 216.75 on the BSE, gaining 4 percent in Monday's intra-day trade after the company recorded a 75 percent on-year growth in disbursements in August, In an exchange filing last week, the company mentioned that it disbursed Rs 3,740 crore in August. However, on a sequential basis, the number is down 4.4 percent. The number is also lower than the disbursals made in July Rs 3,912 crore and June Rs 3,750 crore."The year-to-date (YTD) disbursement is at approximately Rs 17,150 crore and registered a YoY growth of 104 percent. This has resulted in YoY growth of around 12 percent and sequential month-on-month growth of around 3 percent in gross business assets," MMFSL said in the August month business update.The Collection Efficiency during the month of August remained stable at 96 percent, compared to 97 percent in August 2021.The figure has oscillated between the 95-97 percent mark over the last four months
The company further said its stage 2 non-performing assets (NPAs) experienced a sequential reduction compared to July 2022 while stage 3 assets remained stable. The company expects improvement in Stage 2 and Stage 3 assets during September 2022.
M&M Finance is among the top-performing NBFC stocks this year. The stock has given a 41 percent return in 2022 so far. It gained over 3.5 percent in trade on September 5, quoting at Rs 216.
Tags: M&M Finance disbursements NBFC
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