### **Mahindra Finance Q1 FY26 Results: Steady Performance, Strong Asset Quality**

Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) delivered a steady performance for Q1 FY26, reporting a **3% YoY growth in standalone PAT at ₹530 crore**, supported by robust asset quality and healthy loan book expansion. **Disbursements remained largely flat YoY at ₹12,808 crore**, reflecting cautious growth in the core wheels financing business, though **tractor financing grew by 21% YoY**. The company’s gross loan book expanded by **15% YoY to ₹1.22 lakh crore**, underpinned by a balanced approach across segments. Asset quality remained within guidance, with **Stage 3 assets at 3.8%** and **collection efficiency improving to 95%**. Credit costs rose slightly to 1.9% of assets but stayed within manageable limits. **Capital adequacy remained healthy at 20.6%, with over ₹10,100 crore liquidity buffer**, reinforcing the company's financial resilience. Mahindra Finance continues its strategic focus on **diversifying beyond vehicle finance**, with **non-vehicle assets growing 30% YoY** and SME lending seeing **28% YoY growth**. Subsidiaries like Mahindra Rural Housing and Mahindra Manulife delivered improved performances. Looking ahead, Mahindra Finance remains well-positioned to deliver sustainable growth through its diversified portfolio, digital transformation, and focus on rural and semi-urban India. --- **Disclaimer:** This is not investment advice.