Whalesbook
Q4 Mein Mahindra Finance Ne Kamaal Kar Diya!
Yaar, Mahindra Finance ne FY26 ke Q4 mein financial results mein taabadtod performance di hai. Consolidated net profit toh ₹940 Crore ho gaya, jo pichhle saal se double se bhi zyada hai! Aur standalone profit ki baat karein toh woh 55% badh kar ₹873 Crore tak pahunch gaya. Sabse achhi baat yeh hai ki total revenue bhi 13% badh kar ₹4,810 Crore ho gaya.
Tractor Sales Aur AUM Mein Toofani Tezi!
Is zabardast performance ke peeche ka reason hai inke disbursements mein 11% ka increase jo ₹17,184 Crore tak pahunch gaya. Assets Under Management (AUM) bhi 12% badha hai. Aur tractor sales disbursements toh 60% se bhi zyada badh gaye, which means gaon mein demand mast hai! Company ka Net Interest Margin (NIM) bhi 7.5% ke aas paas bana hua hai, funding costs control mein hain.
Risk Ka Factor Aur Valuation Ka Game
Abhi sab kuch itna bhi smooth nahi hai. Company apne loan book ko diversify kar rahi hai, jaise used vehicle financing aur SME book mein 30-40% growth target kar rahi hai. Lekin core loan book concentration abhi bhi ek bada factor hai. Inka Stage 3 assets ratio kam ho kar 3.4% ho gaya hai, jo achhi baat hai. Company ne potential risks ke liye ₹217 Crore ka buffer bhi rakha hai, aur provision coverage 59% tak hai. Credit costs 1.5% aur 1.7% ke beech rehne ki umeed hai.
Market mein thoda doubt hai. Doosre NBFCs jaise Aditya Birla Capital aur ICICI Lombard ke muqable Mahindra Finance ka valuation kam hai. Company ka P/E ratio around 16.58x hai, jo peers se kam hai. Market ko inke loan book concentration aur growth sustain karne par thoda shaq hai.
Aage Kya Ho Sakta Hai?
Analysts ne mostly 'Buy' rating di hai aur target price ₹363 ke aas paas bataya hai, matlab 20% se zyada upside ka potential hai. Lekin kuch analysts 'Hold' bhi keh rahe hain. Company ka plan hai ki woh medium-term mein 16%-18% growth aur 14% ke aas paas Return on Equity (RoE) achieve kare. AI ka use karke efficiency badhane ka bhi plan hai. Agar company apni diversification strategy aur asset quality ko manage kar paati hai, toh stock mein potential hai.