Mahindra & Mahindra Financial Services (MMFSL) shares touched a 52-week high of Rs 216.75 gaining 4% in intra-day trade on Monday after the company reported a robust increase in disbursement in August.

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The Mahindra group company’s stock reached its prior high of Rs 212.70, set on July 22, 2022. The S&P BSE Sensex was up 0.58% at 59,146 points.

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MMFSL stated that the company maintained its pace with disbursements of about Rs 3,740 crore, representing a 75% year-on-year (YoY) increase.

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“The year-to-date (YTD) disbursement is at approximately Rs 17,150 crore and registered a YoY growth of 104%. This has resulted in YoY growth of around 12% and sequential month-on-month (MoM) growth of around 3% in gross business assets,” MMFSL said in the August month business update.

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The company also said that its stage 2 non-performing assets (NPAs) decreased sequentially compared to July 2022, while stage 3 assets remained unchanged. In September 2022, the corporation anticipates improvements in Stage 2 and Stage 3 assets.

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Aside from that, the collection efficiency (CE) for August 2022 was 96%, compared to 97% in August 2021. MMFSL stated that the company maintained a solid liquidity situation on its balance sheet, with a liquidity chest of more than three months.

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MMFSL is a significant non-banking financing company (NBFC) in India, providing quality services and products to a diverse client base in India’s semi-urban and rural areas. The company generally finances the acquisition of new and used automobiles and utility vehicles, tractors, passenger cars, commercial vehicles, construction equipment, and SME financing.