For the FY22, the total disbursement stood at approximately Rs 27,466 crore, registering a Y-o-Y growth of 45%.

In March 2022, the collection efficiency (CE) was in line with expectations at 109% for March 2022, similar as March 2021. The buoyancy in collections has led to significant sequential improvement in asset quality resulting in Stage 3 assets as of March 2022 being lower than as of March 2021. Similarly, Stage 2 assets have also seen meaningful improvement over 31st December 2021 level.

The company will bring the Net Stage 3 below 4% as on 31st March 2022.

The company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of well over 3 months.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is a non-banking finance company. The company is a vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits and is focused on the rural and semi-urban sector.

The company's consolidated net profit surged 1,099.78 crore in Q2 FY22 from Rs 351.35 crore in Q2 FY21. Total income fell 2.9% to Rs 2,982.62 crore during the quarter.