Mahindra Finance reports strong Q2 FY26 earnings growth

Mahindra & Mahindra Financial Services Limited (MMFSL) reported a 54% year-on-year (YoY) growth in profit after tax (PAT) to INR 569 crores for Q2 FY26. Total income increased by 14% YoY to INR 4,489 crores. The company's loan book expanded by 13% YoY to INR 1,27,246 crores, with disbursements rising 3% YoY to INR 13,514 crores. Asset quality remained stable, with Gross Stage 3 at 3.9% and GS2+GS3 at 9.7%, while capital adequacy stood at a healthy 19.5%.

The board of directors also approved the appointment of Ms. Padmaja Chunduru as an additional director (independent and non-executive) for a five-year term, effective November 10, 2025. This appointment is subject to shareholder approval. Additionally, MMFSL utilized INR 2,996.16 crores raised from a rights issue by May 22, 2025, for disclosed objects, as confirmed by a monitoring agency report from CARE Ratings Limited. The proceeds were primarily used for augmenting long-term capital resources and general corporate purposes, with no reported deviations in utilization.

The company continues to focus on vehicle finance, SME lending, leasing, and insurance, maintaining its leadership in rural and semi-urban sectors across India through an extensive network of 1,346 offices.