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Nomura India maintained its 'Reduce' rating on the Mahindra Finance stock, citing higher share of AUM (54 per cent of AUM) falling into highly competitive segments like auto/cars, leading to potentially negative impact on yields.
Year-on-year growth in loan disbursements stood at about 16%, and total assets under management was up 26% year-on-year. However, monthly collection efficiency was lower, dropping to 94% from 96% in November 2022. ....
Mahindra Finance: CLSA said Q2 was the second straight quarter of poor results, as pre-provision operating profit (PPOP) was 8 per cent below its estimates and higher credit costs led to 50 per cent profit miss.
The Mahindra group's non-banking financial company's (NBFC) net profit tumbled 48 per cent year-on-year (YoY) basis to Rs 235 crore in the September 2023 quarter. ....