Crime Today News
Mahindra & Mahindra Financial Services Limited (M&MFIN) announced today that its board of directors has approved a dividend of Rs. 6.50 per equity share (325%) for the financial year ended March 31, 2025, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
The company also plans to increase its aggregate borrowing limits from Rs. 1,30,000 crore to Rs. 1,50,000 crore under Section 180(1)(c) of the Companies Act 2013. This would include fundraising through non-convertible debentures and other securities to be made in one or more tranches. The increase in borrowing limits will require shareholder approval at the company’s 35th AGM, scheduled for July 22, 2025.
In its board meeting, M&MFIN approved the audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2025, based on the recommendation of the Audit Committee.
The board also approved the re-appointment of Dr. Rebecca Nugent as an Independent Director for a second term of five consecutive years, effective from March 5, 2026, to March 4, 2031. Dr. Nugent is the Stephen E. and Joyce Fienberg Professor of Statistics & Data Science and Department Head for the Carnegie Mellon Statistics & Data Science Department.
Additionally, the company announced a change in its secretarial auditor. M/s. Makarand M. Joshi & Co., Company Secretaries, a peer-reviewed firm, will replace M/s. KSR & Co, Company Secretaries LLP, effective April 23, 2025. The new secretarial auditor will hold office for a term of five consecutive years.
As part of its annual performance management process, the company elevated Mr. ShivKumar N V to Chief Business Officer for Small & Medium Enterprises, making him part of the Senior Management Personnel effective May 1, 2025. ShivKumar joined the company in August 2022 and has approximately 29 years of experience across public sector and private sector banks and NBFCs.
For the financial year, the company’s book value of assets charged against listed debentures is 1.08 times, as indicated in its security cover certificate. The company reported in its consolidated financial results that it had total assets of Rs. 1,44,105.26 crore as of March 31, 2025, compared to Rs. 1,23,715.79 crore in the previous year.
Mahindra & Mahindra Financial Services Limited is a leading non-banking financial company in India that focuses on providing financial solutions primarily in rural and semi-urban areas, with a significant presence in vehicle and SME financing.
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