Mahindra Finance Q1 FY27: Profitability Steps Up as Growth Returns

Standalone disbursements were INR 15,564 crore, AUM was INR 1,37,449 crore, and PAT was INR 899 crore. RoA was 2.4%.

Standalone gross Stage 3 was 3.45% in Jun 2026 versus 3.85% in Jun 2025, and GS2 plus GS3 was 8.3% versus 9.7% in Q1 FY26.

Management reiterated a through-cycle credit cost band of 1.3% to 1.7% for the franchise.

Total lending AUM (MMFSL plus MRHFL) was INR 1,46,623 crore with wheels at 83% and non-wheels at 17%.

The company stated 100% of wheels disbursals went through the Udaan stack in Q1 FY27 and cited increased AI coverage in operations and collections, along with lower acquisition cost for digital and AI channels.

Management said it does not see needing equity capital in the next 6 to 8 quarters, citing capital levels and leverage headroom.