External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades.

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Mahindra & Mahindra Fin Services Ltd. / Equity Bottom-Up

Mahindra & Mahindra Fin Services Ltd. (MMFS IN)

<ul><li>MMFS delivered a stable quarter in terms of growth, margins, and credit costs.</li><li>Quarterly PAT stood at ~Rs9bn, with the beat primarily driven by minimal credit costs, which resulted from the ECL-model refresh (leading to lower PD and LGD estimates).</li><li>The company continues to expand into new categories beyond vehicle financing, through focus on SME lending, leasing, insurance, payments, mortgages, and cross-sell.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MMFS delivered a stable quarter in terms of growth, margins, and credit costs.Quarterly PAT stood at ~Rs9bn, with the beat primarily driven by minimal credit costs, which resulted from the ECL-model refresh (leading to lower PD and LGD estimates).The company continues to expand into new categories beyond vehicle financing, through focus on SME lending, leasing, insurance, payments, mortgages, and cross-sell.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra Finance - Steady Quarter; ECL Model Changes Drive the Earning Beat