Latest news with #Mahindra&MahindraGroup
Economic Times
2 days ago
- Automotive
- Economic Times
Mahindra Finance to focus on quality of assets rather than volume
Mahindra & Mahindra Group CEO and MD Anish Shah NBFC arm of Mahindra & Mahindra would continue focus on asset quality while expanding business, a top official of the group said. "We are very bullish about this segment... we plan to expand (business of Mahindra Finance). We have taken time to get to a much better asset quality, get to a much stronger set of controls, and we want to be one of the leaders across the banking system," Mahindra & Mahindra Group CEO and MD Anish Shah told PTI in an interaction. Mahindra Finance would continue its forward march and do more in terms of diversification, he said. "We started with quality. We have got to that place, but it will always be the quality of assets ahead of everything else (for business growth)," he said. Talking about restructuring undertaken by the NBFC, Shah said there has been a lot of effort over the last three years. "We are in the final stages of doing that. As that happens, that's going to strengthen our business even further. "What has also impacted the business is the fact that you had volatility in gross NPAs, and as we look back over time, some of it is driven by counting on changes, and potentially changes in how gross NPAs are calculated as well." The team has done a phenomenal job in changing the risk profile of the business and greatly leveraged technology and data analytics in a big way, he said. Therefore, Mahindra Finance is still a leading player in rural and semi-urban areas despite all the competition that's coming there from everyone, including banks, he said. Most of the big corporates are already into the NBFC space and the newest one is Jio Financial Services Ltd promoted by Reliance Group. For the June quarter, Mahindra Finance reported a 6 per cent increase in consolidated net profit to Rs 529 crore as compared to Rs 513 crore a year ago. Its total income climbed 18 per cent to Rs 4,438 crore during the quarter, and the core net interest income increased a similar quantum to Rs 2,285 crore. The net interest margin widened to 6.7 per cent from 6.6 per cent a year ago. Established on September 4, 1998, Mahindra Finance holds a leadership position in Mahindra Tractors and Auto Financing in India, as well as among non-banking financiers for Maruti and Hyundai cars. With a loan book size of Rs 82,770 crore and over 9 million cumulative customer contracts as of FY23, its operations are spread across 34 states/union territories through 1,386 branches/offices, as per the company's website.
Time of India
01-07-2025
- Automotive
- Time of India
India poised to emerge as global manufacturing powerhouse: M&M Group CEO-MD
India stands uniquely poised to emerge as a global manufacturing powerhouse amid the challenging geopolitical environment, according to Mahindra & Mahindra Group CEO and Managing Director Anish Shah . Addressing shareholders in the group's Annual Report for 2024-25, Shah noted that with its growing infrastructure, young workforce, and favourable policies, India's opportunity to lead the world in manufacturing has never been greater. "The current geopolitical and economic landscape is challenging, with persistent headwinds across continents. Yet, India stands uniquely poised to emerge as a global manufacturing powerhouse," Shah stated. Mumbai-headquartered Mahindra group aspires to be a globally recognised brand and has made significant strides, he noted. "At 80 years, Mahindra remains deeply anchored in its values and steadfast in its commitment to performance, even amid global uncertainty. Our growth is propelled by the India story ... we operate in 70 per cent of the country's GDP and we are aligned with the opportunities this dynamic economy offers," Shah stated. Elaborating on business, he stated that the company's growth gems are scaling rapidly, establishing a strong presence in their respective markets and well on track to delivering the promise of 5x growth. "Our Lifespaces business is developing greener buildings, Susten and our renewables InvIT are driving the transition to renewable energy , while our last mile mobility venture is driving electrification of passenger and cargo 3-wheelers to reduce pollution in cities," Shah said. Mahindra Logistics and Club Mahindra are delivering greater customer value, while Trucks & Buses and Aerostructures are charting an even more aggressive growth path, he said. Additionally, the group's emerging growth gems (Accelo, Classic Legends, Car & Bike) are well poised to create value, he added. Shah said FY25 turned out to be an exceptional year for the Mahindra Group, reflecting strong, broad-based growth and stellar execution across businesses. Revenue grew by 14 per cent reaching Rs 1,59,211 crore, while profit after tax (PAT) soared 20 per cent to Rs 12,929 crore, he said. "Our auto and farm sectors (biz verticals) continued to gain market share, expanding their profitability, and reinforcing their leadership positions. The launch of our Electric Origin SUVs redefines quality standards and marks a significant milestone in India's EV journey," he added. At Tech Mahindra , the company strengthened client relationships and improved operational margins, and Mahindra Finance enhanced stability while achieving 33 per cent profit growth, Shah said. PTI
Economic Times
30-06-2025
- Automotive
- Economic Times
India poised to emerge as global manufacturing powerhouse: M&M Group CEO-MD Anish Shah
India stands uniquely poised to emerge as a global manufacturing powerhouse amid the challenging geopolitical environment, according to Mahindra & Mahindra Group CEO and Managing Director Anish Shah. Addressing shareholders in the group's Annual Report for 2024-25, Shah noted that with its growing infrastructure, young workforce, and favourable policies, India's opportunity to lead the world in manufacturing has never been greater. "The current geopolitical and economic landscape is challenging, with persistent headwinds across continents. Yet, India stands uniquely poised to emerge as a global manufacturing powerhouse," Shah stated. Mumbai-headquartered Mahindra group aspires to be a globally recognised brand and has made significant strides, he noted. "At 80 years, Mahindra remains deeply anchored in its values and steadfast in its commitment to performance, even amid global uncertainty. Our growth is propelled by the India story ... we operate in 70 per cent of the country's GDP and we are aligned with the opportunities this dynamic economy offers," Shah stated. Elaborating on business, he stated that the company's growth gems are scaling rapidly, establishing a strong presence in their respective markets and well on track to delivering the promise of 5x growth. "Our Lifespaces business is developing greener buildings, Susten and our renewables InvIT are driving the transition to renewable energy, while our last mile mobility venture is driving electrification of passenger and cargo 3-wheelers to reduce pollution in cities," Shah said. Mahindra Logistics and Club Mahindra are delivering greater customer value, while Trucks & Buses and Aerostructures are charting an even more aggressive growth path, he said. Additionally, the group's emerging growth gems (Accelo, Classic Legends, Car & Bike) are well poised to create value, he added. Shah said FY25 turned out to be an exceptional year for the Mahindra Group, reflecting strong, broad-based growth and stellar execution across businesses. Revenue grew by 14 per cent reaching Rs 1,59,211 crore, while profit after tax (PAT) soared 20 per cent to Rs 12,929 crore, he said. "Our auto and farm sectors (biz verticals) continued to gain market share, expanding their profitability, and reinforcing their leadership positions. The launch of our Electric Origin SUVs redefines quality standards and marks a significant milestone in India's EV journey," he added. At Tech Mahindra, the company strengthened client relationships and improved operational margins, and Mahindra Finance enhanced stability while achieving 33 per cent profit growth, Shah said. PTI
Mint
30-06-2025
- Automotive
- Mint
India poised to emerge as global manufacturing powerhouse: M&M Group CEO-MD
New Delhi, Jun 30 (PTI) India stands uniquely poised to emerge as a global manufacturing powerhouse amid the challenging geopolitical environment, according to Mahindra & Mahindra Group CEO and Managing Director Anish Shah. Addressing shareholders in the group's Annual Report for 2024-25, Shah noted that with its growing infrastructure, young workforce, and favourable policies, India's opportunity to lead the world in manufacturing has never been greater. "The current geopolitical and economic landscape is challenging, with persistent headwinds across continents. Yet, India stands uniquely poised to emerge as a global manufacturing powerhouse," Shah stated. Mumbai-headquartered Mahindra group aspires to be a globally recognised brand and has made significant strides, he noted. "At 80 years, Mahindra remains deeply anchored in its values and steadfast in its commitment to performance, even amid global uncertainty. Our growth is propelled by the India story ... we operate in 70 per cent of the country's GDP and we are aligned with the opportunities this dynamic economy offers," Shah stated. Elaborating on business, he stated that the company's growth gems are scaling rapidly, establishing a strong presence in their respective markets and well on track to delivering the promise of 5x growth. "Our Lifespaces business is developing greener buildings, Susten and our renewables InvIT are driving the transition to renewable energy, while our last mile mobility venture is driving electrification of passenger and cargo 3-wheelers to reduce pollution in cities," Shah said. Mahindra Logistics and Club Mahindra are delivering greater customer value, while Trucks & Buses and Aerostructures are charting an even more aggressive growth path, he said. Additionally, the group's emerging growth gems (Accelo, Classic Legends, Car & Bike) are well poised to create value, he added. Shah said FY25 turned out to be an exceptional year for the Mahindra Group, reflecting strong, broad-based growth and stellar execution across businesses. Revenue grew by 14 per cent reaching ₹ 1,59,211 crore, while profit after tax (PAT) soared 20 per cent to ₹ 12,929 crore, he said. "Our auto and farm sectors (biz verticals) continued to gain market share, expanding their profitability, and reinforcing their leadership positions. The launch of our Electric Origin SUVs redefines quality standards and marks a significant milestone in India's EV journey," he added. At Tech Mahindra, the company strengthened client relationships and improved operational margins, and Mahindra Finance enhanced stability while achieving 33 per cent profit growth, Shah said.
Time of India
30-06-2025
- Automotive
- Time of India
India poised to be global manufacturing hub, says Mahindra Group
India is uniquely positioned to emerge as a global manufacturing powerhouse amid rising geopolitical and economic challenges, according to Anish Shah, CEO and Managing Director of Mahindra & Mahindra Group . In the company's Annual Report for FY25, Shah highlighted India's growing infrastructure, young workforce, and favorable policy environment as key drivers of this transformation. 'The current geopolitical and economic landscape is challenging, with persistent headwinds across continents. Yet, India stands uniquely poised to emerge as a global manufacturing powerhouse,' Shah said, addressing shareholders. He emphasised that Mahindra, now in its 80th year, remains anchored in its values while aligning growth with the India story. 'We operate in 70 per cent of the country's GDP and are aligned with the opportunities this dynamic economy offers,' he said. Shah on Mahindra's performance Shah highlighted strong performance across Mahindra's portfolio, particularly its 'growth gems,' which are scaling rapidly and targeting 5x growth. Key contributors include Mahindra Lifespaces with green building developments, renewable energy venture Susten and its InvIT, and the last mile mobility business driving 3-wheeler electrification. Mahindra Logistics and Club Mahindra continue to deliver greater customer value, while Trucks & Buses and Aerostructures are charting aggressive growth. Emerging businesses like Accelo, Classic Legends, and Car & Bike are also poised to create long-term value. FY25 was described as an exceptional year for the group, with revenue rising 14 per cent to ₹1,59,211 crore and profit after tax (PAT) increasing 20per cent to ₹12,929 crore. Mahindra's auto and farm equipment businesses gained market share and improved profitability, while the launch of its Electric Origin SUV line marked a major milestone in India's EV journey. Tech Mahindra strengthened client relations and improved margins, and Mahindra Finance delivered a 33 per cent profit growth, further bolstering the group's performance.
