27 RISE TO CREATE VALUE | Group Strategic Overview Mahindra Finance and Tech Mahindra are advancing through their disciplined transformation paths. Mahindra Finance has successfully completed the first phase of its turnaround, while Tech Mahindra is steadily progressing towards its FY27 ambitions. Both businesses have sharpened their focus, rebuilt execution rigour and strengthened organisational structures, laying a strong foundation for disciplined growth. Mahindra Finance Mahindra Finance (Mahindra & Mahindra Financial Services Limited or MMFSL) has reinforced its position as one of India’s leading NBFCs with a deep presence established across rural and semi-urban India. As part of its turnaround journey, the business has rebuilt its operating model with a sharper customer segmentation, greater underwriting discipline and stronger credit practices. Investments in data, digital, and AI have transformed how MMFSL sources, underwrites, disburses, and collects, giving the organisation confidence in the long-term strength of its model. These efforts have resulted in a sustained improvement in asset quality with GS3 maintained below 4% throughout the past two years, while delivering steady growth. In FY26, AUM grew 12% YoY and RoA reached 2.0%. With a strong foundation built upon controls and technology, MMFSL aspires to grow its AUM 5x this decade. Growth Vectors • Maintain risk discipline to ensure asset quality stays resilient across cycles. Strengthen collection capabilities with digital tools, predictive analytics, and early warning systems. • Defend and grow leadership in vehicle financing. MMFSL is deepening relationships with OEMs to anchor this leadership over the long term. • Diversify by scaling mortgages, SME lending, leasing by leveraging ecosystem partnerships / cross-selling to drive fee income. • Build a resilient operating model which is efficient and digitalised with future-fit controls. Strengthen balance sheet resilience to support the next phase of expansion. Key Highlights • Tractor disbursements up 49% YoY. • Cross-sell strategy improved Products Per Customer to 2.4. • ₹31,500 crore disbursed through Udaan digital stack in FY26. • The ‘SamurAI’ agent has been deployed on 20% of the business, achieving 80% faster post-sanction turnaround time (TAT). FY26 Achievements 1,34,096 crore AUM, up 12% 3.4% GS3 GS2 + GS3 stood at 8.2%, lowest in 8 years 100% Onboarding and collections through Digital & AI Achieve Full Potential
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