MAHINDRA FINANCE: Q2 DISBURSEMENTS UP 22%

Key Update Q2 FY27 disbursements are estimated at ₹16,490 crore, up approximately 22% YoY. H1 FY27 disbursements are estimated at ₹32,050 crore, also up around 22% YoY, excluding finance lease. Business Assets: ₹1,46,300 crore, up approximately 15% YoY from September 2025. Collection Efficiency: estimated at 97% in Q2 FY27 versus 96% in Q2 FY26. Stage-3 assets: estimated at 3.35%–3.45%, compared with 3.94% a year earlier. Stage-2 assets: estimated at 4.7%–4.8%, versus 5.8% in September 2025. Liquidity position remained comfortable, with a liquidity chest of over ₹16,200 crore. Fundamental Snapshot FY26 business AUM stood at ₹1,34,096 crore, growing 12% YoY. FY26 ROA was 2.0%. FY26 consolidated PAT was approximately ₹2,855 crore, up 26.2% YoY. Q1 FY27 consolidated PAT was ₹898.65 crore, up about 70% YoY. Business & Growth Areas Mahindra Finance operates as an NBFC with major exposure to vehicle and tractor financing, along with mortgages, SME lending, leasing and other financial products. The company is also expanding its digital lending and collection capabilities through technology and AI. Risk Factors Credit costs and asset quality can be affected by economic conditions and borrower repayment capacity. As an NBFC, the company is exposed to interest-rate and funding-cost movements. Vehicle and tractor financing demand can be influenced by rural income, interest rates and economic cycles. Any deterioration in Stage-2/Stage-3 assets could increase provisions and credit costs. Disclaimer: This content is for educational and informational purposes only and is not investment advice. Investors should conduct their own research or consult a SEBI-registered investment professional before making investment decisions.