Mahindra & Mahindra Financial Services Ltd

MMFSL is primarily engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. It also provides housing finance, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. In addition, among other services, MMFSL offers wholesale inventory financing to dealers and retail financing to customers in the US for the purchase of tractor products through Mahindra Finance USA LLC, its joint venture with a subsidiary of the Rabobank Group. (Source : 201903 Annual Report Page No: 5)

  • Market Cap: 14,857 Cr.
  • Current Price: 120.25
  • 52 weeks High / Low 245.89 / 76.46
  • Book Value: 96.87
  • Stock P/E: 12.24
  • Dividend Yield: 3.33 %
  • ROCE: 9.45 %
  • ROE: 9.34 %
  • Sales Growth (3Yrs): 18.61 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 2.00
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Pros:
Cons:
Company has low interest coverage ratio.
Company has a low return on equity of 13.63% for last 3 years.

Peer comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
Revenue 1,979 2,182 2,497 2,293 2,508 2,692 2,880 2,822 2,914 3,046 3,101 3,057
Interest 855 873 870 957 1,053 1,153 1,270 1,263 1,346 1,351 1,431 1,401
942 776 809 854 817 878 581 1,388 1,052 1,071 1,392 1,368
Financing Profit 182 533 819 482 638 662 1,029 172 516 624 278 288
Financing Margin % 9% 24% 33% 21% 25% 25% 36% 6% 18% 20% 9% 9%
Other Income 6 64 10 23 27 23 34 30 34 48 47 254
Depreciation 13 14 15 16 18 20 21 41 43 43 19 38
Profit before tax 175 583 813 488 646 665 1,041 160 507 629 306 504
Tax % 39% 36% 37% 34% 33% 38% 33% 32% 48% 24% 22% 14%
Net Profit 101 365 500 316 426 399 686 107 261 472 235 432
EPS in Rs 0.89 3.19 4.22 2.57 3.47 3.25 5.59 0.87 2.13 3.84 1.91 3.51
Gross NPA %
Net NPA %
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
Revenue 1,396 1,589 2,028 2,906 4,175 5,294 6,051 6,586 7,189 7,910 10,429 11,995 12,118
Interest 511 503 666 1,140 1,671 2,281 2,643 2,868 3,186 3,436 4,432 5,391 5,529
546 543 609 789 1,132 1,532 1,973 2,459 3,123 2,547 3,129 4,903 4,883
Financing Profit 338 544 754 977 1,372 1,481 1,435 1,258 880 1,927 2,868 1,702 1,706
Financing Margin % 24% 34% 37% 34% 33% 28% 24% 19% 12% 24% 28% 14% 14%
Other Income 5 6 10 5 4 7 10 12 12 33 49 47 384
Depreciation 9 10 16 20 24 26 46 46 54 55 76 147 143
Profit before tax 334 540 748 961 1,353 1,462 1,400 1,224 838 1,905 2,841 1,602 1,946
Tax % 34% 34% 34% 33% 31% 34% 34% 36% 37% 36% 34% 32%
Net Profit 220 356 493 644 927 954 913 772 512 1,185 1,827 1,075 1,400
EPS in Rs 2.30 3.71 4.81 6.27 8.24 8.47 8.09 6.84 4.53 9.65 14.86 8.74 11.39
Dividend Payout % 24% 20% 21% 22% 22% 22% 25% 29% 27% 21% 22% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.40%
5 Years:14.67%
3 Years:18.61%
TTM:11.16%
Compounded Profit Growth
10 Years:11.79%
5 Years:3.25%
3 Years:27.02%
TTM:-26.61%
Stock Price CAGR
10 Years:4.42%
5 Years:-3.00%
3 Years:-20.71%
1 Year:-43.01%
Return on Equity
10 Years:15.00%
5 Years:12.61%
3 Years:13.63%
Last Year:9.34%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
96 96 102 103 113 113 113 113 113 123 123 123
Reserves 1,387 1,658 2,443 2,928 4,467 5,181 5,830 6,356 6,847 9,732 11,146 11,846
Borrowings 5,220 6,525 9,785 14,646 20,152 25,893 29,232 34,044 40,644 44,986 58,802 65,883
765 1,337 1,539 1,743 2,339 2,871 3,459 4,494 5,619 3,889 4,505 3,940
Total Liabilities 7,468 9,615 13,869 19,420 27,071 34,057 38,633 45,007 53,223 58,730 74,576 81,793
38 42 74 101 112 128 119 129 133 147 201 455
CWIP 0 7 7 2 1 0 0 0 1 0 1 1
Investments 97 203 625 437 458 722 654 1,199 1,374 2,378 3,327 5,340
7,333 9,363 13,162 18,881 26,500 33,207 37,860 43,679 51,714 56,205 71,046 75,996
Total Assets 7,468 9,615 13,869 19,420 27,071 34,057 38,633 45,007 53,223 58,730 74,576 81,793

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-896 -2,099 -4,067 -6,249 -7,442 -6,448 -3,970 -4,957 -6,467 -8,510 -12,078 -3,115
-107 -122 -447 102 -181 -470 34 -440 -97 243 -1,213 -2,689
985 2,178 4,654 6,058 7,696 6,898 3,907 5,431 6,766 8,174 13,490 6,050
Net Cash Flow -19 -43 140 -89 74 -20 -29 34 202 -93 199 245

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROE % 16% 22% 23% 23% 24% 20% 16% 13% 8% 14% 18% 9%

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
51.20 51.19 51.19 51.19 51.19 51.19 51.19 51.19 51.19 51.19 51.19 51.19
32.03 34.56 29.41 28.10 27.51 26.96 26.77 25.87 25.14 24.85 23.94 23.52
10.23 8.54 11.57 12.36 12.46 13.15 13.64 14.56 15.26 15.37 15.55 13.10
5.90 5.16 7.30 7.83 8.33 8.22 7.94 7.93 7.95 8.20 8.93 11.85
0.64 0.55 0.53 0.52 0.52 0.48 0.47 0.46 0.46 0.40 0.39 0.34