Nuvama has maintained a ‘Hold’ rating on M&M Financial Services, highlighting that the Expected Credit Loss (ECL) refresh led to a sharp dip in credit cost, with the Provision Coverage Ratio (PCR) falling to 50%.
The CEO reiterated guidance of 1.3-1.5% credit cost and mid-to-high teens AUM growth for FY26E. However, while the ECL reset is already factored in, credit cost volatility remains a concern.
Current Market Price (CMP): ₹269.30
Disclaimer: The above information is for informational purposes only and should not be considered as financial advice. Investors are advised to conduct their own research or consult with a financial advisor before making any investment decisions.
