Mahindra & Mahindra Financial Services Limited — Investor Meet, 03-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Mahindra Finance reported strong Q2 financial results, with NIM expanding to 7% YoY and half-year PAT growing 25% to ₹1,100 Cr. AUM grew 13%, and income rose 14%. Cost of funds improved 30 bps. Management anticipates robust H2 momentum in PV and tractor segments, boosted by festive demand and GST changes. Asset quality remains stable, with GS2+GS3 at 9.72% (YoY reduction). The full-year credit cost guidance of 1.7% is reiterated. The rural housing finance subsidiary turned profitable, with GS3 below 3%. Management expresses a confident outlook for sustained growth and profitability.