| India Ratings reaffirmed its AAA with a Stable outlook on non-convertible debentures amounting to Rs 39,000 crore, retail non-convertible debentures of Rs 8,000 crore, private subordinated debt worth Rs 5,450 crore, retail subordinated debt of Rs 3,000 crore, bank loans of Rs 64,999.7 crore and fixed deposits of Rs 12,000 crore. The agency also maintained its top short-term rating of A1+ on commercial paper worth Rs 15,000 crore. Additionally, principal-protected market-linked debentures worth Rs 1,500 crore were reaffirmed at PP-MLD AAA/Stable. CRISIL Ratings reaffirmed its AAA with a Stable outlook on non-convertible debentures of Rs 32,875 crore, subordinated debt of Rs 5,113.50 crore, bank loan facilities of Rs 13,317 crore and fixed deposits of Rs 18,000 crore. The rating agency also maintained its highest short-term rating of A1+ on commercial paper of Rs 17,000 crore and on the short-term portion of the bank facilities. Mahindra Finance, part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 11 million customers. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The company has 1,352 offices and reaches out to customers spread over 5,16,000 villages and 8,000 towns across the country, transforming more than 1.1 crore lives. On a consolidated basis, Mahindra Finance's profit after tax rose 6% to Rs 529 crore on 15% increase in total income to Rs 5,013 crore in Q1 FY26 over Q1 FY25. Powered by Capital Market - Live News |