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Monday, August 22, 2011

Mahindra & Mahindra Financial Services:-Buy/sell/,growth prospects and recommendation,news and results,target price and analysis,outlook,multibagger

Scripscan:Mahindra & Mahindra Financial Services Ltd

Story:Mahindra & Mahindra Financial Services Limited, a non-banking finance company, primarily engages in the provision of finance for utility vehicles, tractors, and cars. It offers vehicle loans, including tractor loans, utility vehicle loans, car loans, three wheeler loans, commercial vehicle loans, and two wheeler loans, as well as loans for construction equipment. The company also provides personal loans for festival expenditures, medical needs, education needs, agricultural needs, marriages, health needs, vehicle repairing, and insurance purchases. In addition, it offers mutual fund services, which include investment advisory services; direct life and non-life insurance broking for corporations and retail customers; and home loans for semi-urban and rural sector, as well as provides fixed deposits and auto refinance services.M&M Financial Services posted a set of better-than-expected numbers for Q1FY12 and that kept the stock strongly in the green yesterday. The company, posted a 42% rise in consolidated total income at Rs.585 crore while PAT was up 31% at Rs.105 crore. Disbursements rose 34% at Rs.3834 crore. Its subsidiary, Mahindra Insurance showed a 61% drop in net profit while the other, Mahindra Rural Housing showed a 53% rise in PAT.The company is primarily into providing financial services to semi-urban and rural India, covering the entire gamut – insurance broking, personal finance, asset financing, funding rural home building and renovation. It has also got into car financing and increased its presence in HCV and construction equipment finance. It has a network of 559 offices. The company maintains a leadership in this sector of financing. Q2 is usually a lean period as business picks up after harvest and in the festive season in Q3. Rising interest rates will remain a challenge and only higher volumes can help it sustain the margins. Its financial expenses during Q1 itself was up 64% and in Q2 is only expected to go up further. Its provisions and write-offs have risen 4%. The parent company, M&M has a 56% stake in the company.Hold it to have better returns in the longer run.

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