Mahindra Finance F-2015 Q4 Results

  • PAT up by 7%
  • F-2015 AUM up by 8% Crosses Rs.36000 crores
  • Board Recommends 200% Dividend
  • Customer Base Crosses 3.6 Million

Mumbai, April 23, 2015: The Board of Directors of Mahindra  Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the quarter and year ended 31st March 2015.

F-2015 Q4 Consolidated Results

The Total Income increased by 14% at Rs.1680 crores during the quarter ended 31st March, 2015 as against Rs.1476 crores in the corresponding quarter last year. The Profit After Tax and minority interest grew by 9% to Rs.367 crores during the quarter ended 31st March, 2015 as against Rs.337 crores during the corresponding quarter last year.

F-2015 Q4 Standalone Results

The Total Income increased by 12% at Rs.1537 crores during the quarter ended 31st March, 2015 as against Rs.1371 crores in the corresponding quarter last year. The Profit After Tax (PAT) grew by 7% to Rs.333 crores during the quarter ended 31st March, 2015 as against Rs.311 crores during the corresponding quarter last year.

F-2015 YTD Consolidated Results

The Total Income increased by 14% at Rs.6061 crores during the year ended 31st March, 2015 as against Rs.5301 crores in the corresponding period last year. The Profit After Tax and minority interest declined by 4% to Rs.913 crores during the year ended 31st March, 2015 as against Rs.954 crores during the corresponding period last year.

F-2015 YTD Standalone Results

The Total Income increased by 13% at Rs.5585 crores during the year ended 31st March, 2015 as against Rs.4953 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 6% to Rs.832 crores during the year ended 31st March, 2015 as against Rs.887 crores during the corresponding period last year in view of overall economic activities being lower.

Dividend

The Board in its meeting held today recommended a dividend of 200% as against 190% paid during the last year.

Operations

During the year, the Company’s customer base has crossed 3.6 million customers in the month of March 2015. The Company currently has a network of 1108 offices and Total Assets Under Management of Rs. 36878 crores as on 31st March, 2015 as against Rs. 34133 crores as on 31st March, 2014, a growth of 8%.

Through increased penetration and close follow up efforts the company has been able to increase overall collections and bring down NPA levels resulting in growth of profits.

The Company continued to broad base its consortium of lenders by bringing in new Banks, Mutual Funds, Insurance Companies and Trusts. During this period, India Ratings and Brickworks Ratings upgraded Company’s long term debt rating to AAA. CARE Ratings also assigned AAA rating to Company’s long term debt.

SUBSIDIARIES

Mahindra Insurance Brokers Limited (MIBL)

For the quarter ended March 31, 2015, MIBL registered income at Rs.35.6 crores as against Rs.32.5 crores, registering a growth of 10% over the same period previous year. The Profit After Tax (PAT) registered was Rs.12.8 Crores as against Rs.13.0 crores, registering a degrowth of 2% over the same period previous year.

For the year ended March 31, 2015, the Company’s Insurance Broking subsidiary registered Income at Rs.126.2 crores as against Rs.111.2 crores, registering a growth of 13% over the same period previous year. The Profit After Tax (PAT) was Rs.42.9 crores as against Rs.42.0 crores, registering a growth of 2% over the same period previous year.

Mahindra Rural Housing Finance Limited (MRHFL)

For the quarter ended 31st March 2015, MRHFL disbursed Rs. 346.4 crores as against Rs. 238.9 crores, registering a growth of 45% over the same period previous year. MRHFL registered income at Rs.101.7 crores as against Rs. 65.9 crores, registering a growth of 54% over the same period previous year.  The Profit After Tax (PAT) was Rs. 21.6 crores as against Rs.12.5 crores, registering a growth of 73% over the same period previous year.

For the year ended 31st March 2015, MRHFL disbursed Rs. 989.6 crores as against Rs.630.6 crores, registering a growth of 57% over the previous year. MRHFL registered income at Rs.328.4 crores as against Rs.212.5  crores, registering a growth of 55% over the previous year. The Profit After Tax (PAT) was Rs. 44.2 crores as against Rs.27.1 crores, registering a growth of 63% over the previous year.

About Mahindra  Mahindra Financial Services Limited

Mahindra  Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 3.6 million customers and has an AUM of over USD 5 billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has over 1,100 offices across the country and is the first finance Company from India to form a part of Dow Jones Sustainability Index. 

The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services. 

Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of MMFSL provides loans for purchase, renovation, construction of houses to individuals in the rural areas of the country.

The Company has a JV in US, Mahindra Finance USA, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.

About Mahindra

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 16.5 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractorsutility vehiclesinformation technologyfinancial services  and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times Boldness in Business’ Award in the Emerging Markets’ category in 2013.

Visit us at www.mahindra.com

For further enquiries please contact:

Ruzbeh Irani  

President (Group Communications  Ethics)

 Chief Brand Officer

Member of the Group Executive Board

Phone: +91 22 2490 1441   

Email:  group.communications@mahindra.com

 

 

 

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