Mahindra & Mahindra Financial Services (Mahindra Finance) began as a captive financier of Mahindra Utility Vehicles in the early 90s. From Mahindra UVs to tractors to non-Mahindra products, the company has diversified into a financial services provider with a whole suite of financial solutions tailored to the under-served customer in under-penetrated rural markets. The equity shares of the Company are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. The Company is a subsidiary of Mahindra & Mahindra.
Its product portfolio consists of vehicle finance, which includes financing of passenger vehicles, utility vehicles, tractors, commercial vehicles, construction equipment; and pre-owned vehicles and SME finance, which includes project finance, equipment finance, working capital finance and bill discounting services to SMEs. The company also undertakes mutual fund distribution, fixed deposits and personal loans tailor-made to suit its unique customer set.
Through its subsidiary, Mahindra Insurance Brokers Limited (MIBL), it provides life and non-life insurance products through tie-ups with various leading insurance companies. Another one of it subsidiaries Mahindra Rural Housing Finance, provides loans for home construction, extension, purchase and improvement to customers in rural and semi-urban India. Mahindra Asset Management Company, offers a variety of mutual fund schemes, with a special focus in rural and semi urban areas. Interestingly, its Mutual Fund schemes have been launched with Hindi names, so that investors in rural areas understand the objectives of the schemes better.
Business area of the company
Mahindra & Mahindra Financial Services is a Non-Banking Financial Company (NBFC) engaged in providing asset finance through its pan India branch network.
Products and services offered by the company
Utility Vehicle Loans
Pre-owned Car Loans
Awarded at the 16th National Award for Excellence in Cost Management - 2018.
Listed in Top 20 India’s Best Workplaces 2019 in the BFSI Industry by the Great Place to Work institute.
Awarded first position for Excellence in Cost Management - F 2018 at an award ceremony at Delhi in November 2019.
Recognised among best 50 People Capital Index (PCI) Companies 2019 which measures companies with best people development practices.
Won the Indian Oil Logistics Award CV Financer of the Year 2019.
Won Marketing Award for ‘Best Customer Engagement’ at ABP News, BFSI Awards 2019 (Sutradhar Samrudhi Program-Direct Marketing initiative).
Made it to one of the most prestigious global benchmarks for corporate responsibility and sustainability, the Dow Jones Sustainability Index (DJSI), in the Emerging Markets Category for the 7th consecutive year.
Won the ‘Best Employer’ by Aon in August 2019. The results were based on employee experience scores, CEO intent and design of HR practices.
Awarded Global Corporate Sustainability Award (GCSA) under the category Reporting (Emerging Market) hosted by Alliance for Sustainable Development Goals (A•SDGs), Taiwan.
Received performance band C in the CDP assessment 2018-19 implying that the company are at ‘Awareness’ band this year. This is same as the Asia regional average of C, and same as the Financial services sector average of C.
Honoured with the IDF CSR Award 2019 for participation in Resource Mobilisation for Humanitarian Causes.
Ranked 49th amongst Top 100 Indian companies for Sustainability by CSR under ‘Responsible Business Rankings 2019’ by Futurescape.
Included in the renowned FTSE4Good Index Series constituent, a testimony to continued leadership in Environmental, Social and Governance (ESG) performance.
Customer base crosses 2 million
AUM Crosses Rs 20,000 crore
Branch network crosses 600 Mark
Customer base crosses 2.5 million
Cumulative asset finance crosses Rs 100,000 crore
MIBL's strategic partnership with LeapFrog to design and deliver insurance solutions
India Ratings and Brickworks Ratings upgraded company's long term debt rating to ‘AAA’ CARE Ratings also assigned ‘AAA’ rating to company's long term debt
MIBL declared 'Broker of the Year' at 18th Asia Insurance Industry Awards
Mahindra Finance wins ABP Award for Most Admired Company in Financial Service Sector
Crosses the benchmark of financing more than 4 million customers through more than 1200 branches.
On 30th September, 2015, Mahindra and Mahindra Financial Services Ltd. was successfully appraised and rated at Maturity Level 3 of the People Capability Maturity Model (People-CMM). People CMM is a framework for organizational change through streamlined people management. At maturity Level 3 of the People CMM, MMFSL has implemented robust HR processes and aligned itself to a competency framework.
Ranked 68th among 791 employers surveyed in India
Ranked 5th in Financial Services sector in India
Ranked 3rd in Workplace Transformation case study
Recognised among Top 19 in Aon Best Employer
Ranked 49th in India's Best Companies to Work for by The Great Place to Work Institute and Economic Times
Recognised by Working Mother and AVTAR 100 Best Companies for Women in India
Appraised and rated at People CMM Maturity Level 5
Listed on Dow Jones Sustainability Index (DJSI) for the fifth year in a row
Included in the Sustainability Yearbook 2018 by RobecoSAM
Honoured with the Indian Development Foundation (IDF) CSR Award
Adjudged as the runner-up in the Business World HR Excellence Award for Excellence in Learning and Development
Conferred with the Equal Opportunity Employer Award during the 4th National Conference on Disability by Sarthak Educational Trust
Received the prestigious ET Best BFSI Brands 2018 Award
Ranked 14th in India's Best Places to Work For - The Economic Times
Celebrated 25 years of Mahindra Finance
Recognised as the e Great Place to Work by Economic Times
Won the Marketing Award for the Best Customer Engagement Activity by ABP News - BFSI Awards
Joint Venture with Manulife Investment Management (Singapore) for Mutual Fund business
Ranked 25th in India's Best Companies to work by The Economic Times & Great Place to Work.
Ranked 6th in the list of Best Large Workplaces in Asia by Great Place to Work Institute
Joint Venture with Ideal Finance for providing financial services in Sri Lanka