Mahindra & Mahindra Financial Services Ltd reported robust Q2 FY27 performance with disbursements reaching ₹16,490 crore, marking a 22% year-on-year growth. According to reports from CNBC TV18, for the first half of FY27, disbursements are estimated at approximately ₹32,050 crore, also registering around 22% YoY growth. The figures exclude finance lease arrangements, with the company maintaining a comfortable liquidity position on its balance sheet, maintaining a liquidity chest of over ₹16,200 crore as of the reporting period.
Business assets stood at approximately ₹1,46,300 crore as of September 2026, growing around 15% from September 2025. As reported by CNBC TV18, the company's collection efficiency is estimated at 97% for Q2 FY27, compared with 96% in Q2 FY26. This improvement in collection efficiency demonstrates enhanced operational efficiency and customer payment discipline, with the data revealing a dual strength in growth and stability - while disbursements expanded by 22% YoY, indicating aggressive market penetration, the simultaneous reduction in both Stage-2 and Stage-3 asset ratios suggests this growth was not achieved at the cost of credit quality.
Stage-3 assets are estimated at 3.35%-3.45% as of September 30, 2026, compared with 3.45% as of June 30, 2026, and 3.94% as of September 30, 2025. According to the company's disclosure, Stage-2 assets are estimated at 4.7%-4.8%, versus 4.9% as of June 30, 2026, and 5.8% as of September 30, 2025. The narrowing gap between Stage-2 and Stage-3 assets, alongside improved collection efficiency, points to effective risk management practices during a period of high volume growth. Historical stock returns show mixed performance with -17.02% returns over 1 year.
Earlier on September 24, the firm approved the issuance of up to ₹2,000 crore of secured, rated, listed, redeemable non-convertible debentures (NCDs) through private placement. According to the company's announcement, the debentures will have a tenure of 2 years and 364 days (1,095 days), with the deemed date of allotment set for September 29, 2026, and maturity date of September 28, 2029. Shares of Mahindra & Mahindra Financial Services closed at ₹320 on October 1.
