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    MMFSL Annual Results Release

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    vipul.hcst
    Mahindra Finance reported a 32% rise in net profit to Rs 108 Crores for 2005-06 compared to Rs 82 Crores for 2004-05. Income from operations grew 47% and value of assets financed was up 34%. The Board recommended a final dividend of Rs 2 per share. The number of customer contracts rose 39% to over 4.67 lakh contracts. Mahindra Finance provides financing for vehicles in rural and semi-urban areas of India through over 300 branches across 25 states.

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    MMFSL Annual Results Release

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    vipul.hcst
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    Mahindra Finance reported a 32% rise in net profit to Rs 108 Crores for 2005-06 compared to Rs 82 Crores for 2004-05. Income from operations grew 47% and value of assets financed was up 34%. The Board recommended a final dividend of Rs 2 per share. The number of customer contracts rose 39% to over 4.67 lakh contracts. Mahindra Finance provides financing for vehicles in rural and semi-urban areas of India through over 300 branches across 25 states.

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    042706_MMFSL Annual Results Release

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    Mahindra Finance reported a 32% rise in net profit to Rs 108 Crores for 2005-06 compared to Rs 82 Crores for 2004-05. Income from operations grew 47% and value of assets financed was up 34%. The Board recommended a final dividend of Rs 2 per share. The number of customer contracts rose 39% to over 4.67 lakh contracts. Mahindra Finance provides financing for vehicles in rural and semi-urban areas of India through over 300 branches across 25 states.

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    42 views2 pages

    MMFSL Annual Results Release

    Uploaded by

    vipul.hcst
    Mahindra Finance reported a 32% rise in net profit to Rs 108 Crores for 2005-06 compared to Rs 82 Crores for 2004-05. Income from operations grew 47% and value of assets financed was up 34%. The Board recommended a final dividend of Rs 2 per share. The number of customer contracts rose 39% to over 4.67 lakh contracts. Mahindra Finance provides financing for vehicles in rural and semi-urban areas of India through over 300 branches across 25 states.

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    Press Release For immediate publication

    Mahindra Finance net profit rises 32% to Rs 108


    Crores

    Mumbai, April 27, ’06 : Mahindra and Mahindra Financial Services Ltd. (Mahindra Finance), a
    leading player in the rural market, today announced 32% rise in its net profit to Rs 108 Crores in
    2005-06 from Rs 82 Crores in 2004-05. Income from Operations grew 47% to Rs 582 Crores.
    Value of assets financed was up 34% to Rs 4478 Crores.

    The Board has recommended a final equity dividend @ 20% i.e. Rs 2 per share. The dividend
    will absorb a sum of Rs 18.64 crores (including dividend distribution tax).

    The Board has also approved, subject to the approval of the shareholders, raising of limits for
    holdings by Foreign Institutional Investors from 24% to 35% of the paid up equity share capital
    of the Company.

    The number of customer contracts rose to 4,67,977 from 3,36,819 in 2005-06, an increase of
    39%.

    Mr. Ramesh Iyer, Managing Director, Mahindra Finance, said, “The results are proof of
    the strong customer loyalty Mahindra Finance enjoys. A deep penetration in the rural markets
    and designing customized products for individual customer requirements is the two pronged
    strategy that has resulted in this robust growth. With the government focusing more on the rural
    markets and, specifically, on the agriculture sector, we are confident of sustaining the
    momentum.”

    Mr. V Ravi, Chief Financial Officer, Mahindra Finance, said, “Despite the firming up of
    interest rates during the fiscal, Mahindra Finance could borrow more than Rs 2500 crores in long
    term funds at an attractive rate of interest, which has helped in increasing our disbursements.
    Other factors such as strong performance by agriculture sector and greater buying capacity of
    customers have influenced our performance.”
    Mahindra Finance, which is involved in providing finance for tractors, utility vehicles and cars
    both new and old, was recently listed on Indian bourses. To carve a niche for itself in these
    markets, the company has positioned itself between the organized banking sector and local
    money lenders, offering customers competitive, flexible and speedy lending services.

    The company distributes its wide range of financial products and services through its nationwide
    distribution network. Mahindra Finance has a branch network of 305 branches spread
    across 25 states and two Union Territories across India and has entered into a total of
    4,67,977 customer contracts since inception. More than 80% of the business is conducted
    through centrally connected branches.

    Mahindra Finance, which has an early mover advantage in the rural and semi urban markets
    where it operates, has created its systems and processes to suit the largely cash oriented rural
    economy.

    About MMFSL

    Mahindra & Mahindra Financial Services Ltd (MMFSL) is one of India’s leading non-banking finance companies focused on
    providing finance for utility vehicles, tractors and cars in the rural and semi-urban sector. MMFSL is a subsidiary of
    Mahindra & Mahindra, a leading tractor and utility vehicle manufacturer. The company has positioned itself between the
    organized banking sector and local money lenders, offering customers competitive, flexible and speedy lending services.
    MMFSL listed on National Stock Exchange and Bombay Stock Exchange on March 17, ’06.

    For further information please contact:

    Ms. Roma Balwani Mr. Mufaddal Choonia


    GM, Corporate Communication Manager - Marketing
    Mahindra & Mahindra Ltd. Mahindra & Mahindra Financial Services Ltd.
    Phone: 2497 5176 Phone: 5642 3848
    Fax: 2490 0830 Fax: 2497 2741 / 2498 4166
    Email: [email protected] Email: [email protected]

    Mr. Samrat Banerjee / Mr. D. Satyanarayan


    Adfactors PR Pvt Ltd.
    Tel: 2281 3565
    Fax: 2281 3569
    Mobile: 98205 10065 / 98213 70413
    Email: [email protected], [email protected]

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