New Delhi: Mahindra & Mahindra Financial Services Ltd (MMFSL) on Saturday reported steady performance for the quarter ended December 31, 2025, with loan disbursements and asset growth holding firm amid a cautious rural credit environment. The non-banking finance company estimated overall disbursements of about ₹17,600 crore in Q3 FY26, marking a 7% year-on-year increase.
For the nine months ended December 2025, cumulative disbursements stood at around ₹43,900 crore, up 4% year-on-year, excluding finance leases. Business assets rose to approximately ₹1.29 lakh crore, reflecting a 12% growth over December 2024, supported by sustained demand across core segments.
Asset quality indicators remained largely stable during the quarter. Collection efficiency was estimated at 95%, unchanged from the year-ago period. Gross Stage-3 assets were seen in the range of 3.9% to 4.0% as of December 31, 2025, broadly in line with levels reported in the previous quarter and a year earlier. Stage-2 assets improved sequentially to an estimated 5.4–5.5%, compared with 5.8% at the end of September 2025 and 6.3% a year ago.
The company said it continued to maintain a comfortable liquidity position, with a liquidity buffer of over ₹8,850 crore on its balance sheet, providing flexibility to support growth and manage near-term obligations.