AUM growth remained healthy at 22% YoY to | 71406 crore, led by traction in auto loans, particularly CV/CE and tractor segment. However, disbursement growth remained muted at | 10598 crore, up 3% YoY due to cautious curtailment in SME lending & slowdown in auto sector. Overall asset mix remained broadly stable with CV gaining prominence over SME. The management has guided 10-12% YoY growth in advances for FY20E. Within subsidiaries, growth reported by Mahindra Housing Finance witnessed a slowdown with 11%YoY growth in advances & 7% YoY degrowth in earnings to | 7872 crore and | 29 crore, respectively. Pressure on...