LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Rupee weakening is a matter of concern: Mahindra & Mahindra Financial honcho Ramesh Iyer

Ramesh Iyer, vice chairman and MD, Mahindra & Mahindra Financial Services Ltd, in an interview with Swati Khandelwal of Zee Business, said the firm is eyeing a 20-25% annual growth in disbursements. Monsoon and infrastructure works are driving the optimism.   

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Rupee weakening is a matter of concern: Mahindra & Mahindra Financial honcho Ramesh Iyer
"A good monsoon and ongoing infrastructure works in rural areas have helped in boosting sentiments and has increased cash flow." Image source: DNA
Written By: Swati Khandelwal
Updated: Wed, Sep 12, 2018
11:10 am
ZeeBiz WebDesk
RELATED NEWS
RBI should grant provision of rescheduling moratorium period: Ramesh Iyer RBI should grant provision of rescheduling moratorium period: Ramesh Iyer
Mahindra & Mahindra Financial Services gets nod to raise Rs 10,000 cr Mahindra & Mahindra Financial Services gets nod to raise Rs 10,000 cr
Rural demand to help Mahindra Financial Services stay in growth trajectory Rural demand to help Mahindra Financial Services stay in growth trajectory

Ramesh Iyer, vice chairman and MD, Mahindra & Mahindra Financial Services Ltd, in an interview with Swati Khandelwal of Zee Business, said the firm is eyeing a 20-25% annual growth in disbursements. Monsoon and infrastructure works are driving the optimism. While the rupee fall is a matter of concern, the company does not see rising fuel prices impacting vehicle financing business.

Do you think the company will be able to meet the projected growth from rural areas?
A good monsoon and ongoing infrastructure works in rural areas have helped in boosting sentiments and has increased cash flow. The way the monsoon has panned out and the ongoing works on infrastructure in different states make me feel that we will be posting a positive growth story. In addition, we have our customers in more than 3.40 lakh villages and the existing situation in villages hints that we will be able to script a growth story.

What is growth expected in the ongoing year?
Initially, we projected growth at 15-18% but reported a growth of over 20% in the first quarter itself. Second half always remains good in the rural areas. In addition, new launches in vehicle segment, penetration of OEMs (original equipment manufacturers) in the rural areas, discounts due to rise in inventory levels and good monsoon cues suggest we will get great leads, which will help us in posting a growth of 20-25%.

India Meteorological Department said monsoon remained 7% below the average. Will this impact rural sales?
Have a look at the timeline of monsoon and the way it panned across India. It remained above average in big states like Uttar Pradesh, Bihar, Madhya Pradesh, Maharashtra and Rajasthan, and will lead to a good yield. These are the states on the basis of which the yield is measured. Thus, this deficiency of 7% is not going to have any impact on our results.

Will rupee depreciation hit your business?
We don’t have any international borrowings and that’s why it is not going to have any big impact on our business. But this weakening will definitely create a pressure on the environment, and thus, we will have to wait and watch the reaction of banks on this fall. It is a matter of concern.

And fuel prices?
We have never seen that an increase in operating cost had any impact on sales. Commercial vehicle operators manage the input cost by increasing the freight rates and passenger fares. However, it may have an impact on their margins and bring a pressure on collections. Pressure on margins does not have any impact on sales.

What about the plan to list your subsidiaries?
I feel more time is needed. For instance, for our housing business, which has seen 10 years of its existence, we will go ahead with listing after increasing its balance-sheet to Rs 20,000 crore. This will be done by 2020. At present, it has a balance-sheet of around 6,000-7,000 crore.

Source: DNA Money

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Mahindra & Mahindra Financial Services
RELATED NEWS
RBI should grant provision of rescheduling moratorium period: Ramesh Iyer RBI should grant provision of rescheduling moratorium period: Ramesh Iyer
Mahindra & Mahindra Financial Services gets nod to raise Rs 10,000 cr Mahindra & Mahindra Financial Services gets nod to raise Rs 10,000 cr
Rural demand to help Mahindra Financial Services stay in growth trajectory Rural demand to help Mahindra Financial Services stay in growth trajectory

LATEST NEWS

NTPC share price today: BIG JUMP! 62-week high achieved; make more money from it, check strategy now

West Bengal vocational teachers salary hiked! Check here for revised pay and other details

Realme Narzo 30A, Realme Narzo 30 Pro 5G launched in India - Check Price, Camera, Specs, Offers and more!

Sanofi India share price: Sharekhan retains Buy rating with an unchanged price target of Rs 9249

EPFO Members Alert! EPF contribution rule may change if government accepts this labour union's demand

RRB NTPC 5th phase exam date ANNOUNCED; do not miss, check now

Covid-19 Vaccine: Latest news! Big announcement from Modi government for these age groups

Once broke a schoolmate's nose for using a racial slur, reveals former US President Obama

PLI scheme: Tapping India's manufacturing capabilities! Big step from Modi government to woo global players

Why home buyers are attracted to Greater Noida; here we explain

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved