Shah said the company’s efforts over the past several years have strengthened its enterprise management, internal controls, compliance framework and risk processes, with the impact visible in improved asset quality.
“Our efforts have translated into robust business performance. Our Assets Under Management grew 12% to ₹1.34 lakh crore during the year. Profitability grew 27% on a consolidated basis, despite a dynamic operating environment,” he said. He added that the company’s gross stage-3 (GS3) assets improved to 3.4% during FY26.
Focus on governance and technology
Shah said the financial services industry is evolving rapidly, with tighter regulatory expectations, changing customer experiences driven by technology and increasing importance of risk management. “In this environment, institutions with strong governance, innovation culture and execution discipline will be best positioned to create enduring value,” he said.
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According to Shah, Mahindra Finance continued to strengthen its enterprise management, compliance framework and internal controls during the year while introducing world-class risk processes. Technology remained a key enabler through Project Udaan, which has helped establish a stronger digital and operating backbone across the organisation.
“Today, data analytics and artificial intelligence are helping us make better decisions, strengthening risk identification, enhancing productivity and delivering superior customer experience. We are aware of some of the worries around vulnerabilities technology may bring and are committed to adopting digital capabilities responsibly,” Shah said.
Growth with balanced risk
Shah said the company will continue to build a diversified financial services franchise while retaining its leadership in vehicle finance.
“Our leadership position in vehicle finance continues to remain at the core of our business. At the same time, we are steadily building a more diversified financial services franchise by deepening customer relationships, expanding relevant product offerings, and leveraging our distribution network,” he said.
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“Our objective is not merely to grow faster, but to grow with discipline, consistency, and a balanced risk appetite while being guided by our purpose,” he added.
Financial inclusion remains core purpose
Shah said Mahindra Finance’s purpose extends beyond financial performance, noting that the company has spent more than three decades expanding access to formal financial services in rural and semi-urban India.
“For more than three decades, your company has worked to expand economic participation by bringing formal financial services to millions of customers across rural and semi-urban India. That mission continues to guide every decision we make,” he said.
He added that long-term value creation remains linked to responsible conduct, sustainability, community development and financial inclusion.
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Looking ahead, Shah said the company is confident about its next phase of growth. “As we look ahead, we do so with confidence and humility. Guided by a strong leadership team under the stewardship of Raul Rebello, and supported by an experienced board, we are looking forward to this next phase with an institution that is strong, agile and prepared for the future,” he said.
