Finance company Mahindra & Mahindra Financial Services announced Q4FY24 results: Financial Highlights: Standalone: AUM (Business assets) crosses 1 Lakh crore, Rs 1,02,597 crore, YoY increase of 24% Disbursement: FY24 Rs 56,208 crore, YoY increase of 13%. Q4FY24 Rs 15,292 crore, YoY increase of 11% Continued Leadership in Wheels: Passenger vehicles, Pre-owned vehicles and Tractors. NII margins improved QoQ 7.1% vs 6.8%. FY24 YoY 6.8% vs 7.6% Robust Asset quality: GS2%+GS3% < 9%. Stage-3 @3.4% vs. 4.0% in Dec-2023 Credit Cost: YoY 1.7% vs 1.2%. (FY24 target 1.5% – 1.7% achieved) A one-time provision of Rs 136 crore towards fraud at one of the Company’s branches Capital Adequacy healthy at 18.9% - Tier-1 Capital @ 16.4%. Provision coverage on Stage 3 loans remained prudent at 63.2%. Total liquidity buffer comfortable at ~Rs. 7,950 crore Consolidated: Total Income rose to Rs 4,333 crore in Q4FY24 from Rs 3,536 in Q4FY23. Profit after tax fell to Rs 671 crore in Q4FY24 from Rs 675 crore in Q4FY23. Mahindra Insurance Brokers: Total Income > Rs 1,000 crore, PAT > Rs 100 crore Mahindra Rural Housing: Asset Quality improvement: Gross Stage 3 @ 9% Mahindra Manulife: AUM crosses Rs 20,000 crore (On 1st April 2024) Result PDF