India’s Leading BFSI Companies 2017
Mahindra & Mahindra Financial Services Limited
About the Company Mahindra & Mahindra Financial Services Ltd (MMFSL) , a subsidiary of Mahindra & Mahindra Ltd - is a non-banking financial company (NBFC) primarily catering to the financial needs of rural and semi-urban markets. The company was incorporated in 1991 as Maxi Motors Financial Services Ltd and acquired its present name in 1992. Mahindra Finance has a pan-India presence covering over 2,80,000 villages across 27 states and 4 union territories in India through 1,181 offices as of Dec 31 2016 with over 4.5 mn customers. Business Operations The company is mainly engaged in the business of financing purchase of new and pre-owned auto and utility vehicles, tractors, cars, commercial vehicles and construction equipments. Mahindra Finance also provides personal loans to its existing customers for their various needs. Thecompany startedSMEfinancing in2011 in the areas of project finance, equipment finance and working capital finance. It also provides investment advisory services to assist customers in investing money through mutual fund schemes after analysing their financial needs based on their earning capacity and current investment patterns. The company also provides fixed deposit product schemes offering competitive interest rates and low risk investment. In FY’16, the company crossed 4 mn cumulative customer contracts since its inception. The company’s overall AUM registered a y-o-y growth of around 11% and stood at ` 409.33 bn as on 31 Mar 2016.
Subsidiaries and JVs As on March 31, 2016, Mahindra Finance had 3 subsidiaries namely Mahindra Insurance Brokers Ltd (MIBL), Mahindra Rural Housing Finance Ltd (MRHFL) and Mahindra Asset Management Company Pvt Ltd (MAMCPL). MRHFL offers housing finance facility by providing loans for construction, purchase, renovation, and improvement in rural and semi-urban segments. MIBL provides insurance solutions by offering various products for life as well as non-life insurance segments to retail customers and corporations. MAMCPL is engaged as an investment manager to the Mahindra Mutual Fund, which provides mutual fund products to rural and semi-urban customers. The company entered into a JV with Rabobank Group to form the subsidiary Mahindra Finance USA LLC, which provides wholesale inventory financing to US based dealers, finance dealer purchases of Mahindra products and provides retail financing to end-user customers to finance their lease or purchase of Mahindra products or used products from dealers in US. CSR & Skill Development MMFSL’s core CSR activities include scholarship to meritorious students from economically disadvantaged families in rural India, education for underprivileged girls, vocational training on financial skills for rural youth, drivers’ training program for women, financial literacy among school children, donation of ambulance and healthcare equipment to hospitals in rural areas, tree plantation and Swachh Bharat Abhiyan.
Mr. Ramesh Iyer Vice-Chairman & Managing Director
Dun & Bradstreet D-U-N-S® No Financials ( ` mn) Total Income Net Profit
Growth and Profitability (%)
5.7 (19.1) 11.4
TI Growth (y-o-y) NP Growth (y-o-y) NPM
(As on Mar 31, 2016)
Chairman Mr. Dhananjay Mungale Vice-Chairman & Managing Director Mr. Ramesh Iyer Executive Director & CFO Mr. V. Ravi Directors Mr. M. G. Bhide Mr. Piyush Mankad Mr. C.B. Bhave
Ms. Rama Bijapurkar Mr. V.S. Parthasarathy Dr. Anish Shah
Registered Address and Website
Gateway Building Apollo Bunder Mumbai - 400001 Maharashtra Website www.mahindrafinance.com
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