Strong experience in Two Wheeler financing
MFL has been in operation in the Two-Wheeler financing segment since 1996, having a vintage of 27 years. Currently, it has tie-ups with over 600 dealers, of which approximately 250 are authorized dealers and the remaining are multi-brand outlets (MBOs)
Improvement in profitability parameters
Profit after tax (PAT) has risen from Rs. 9.1 crore to Rs. 31.2 crore and total income rose from Rs. 106 crore in FY21 to Rs. 192 crore in FY2024
Comfortable Capitalisation
Capital-to-risk weighted assets ratio (CRAR) stood at 25.11% as on March 31, 2024 as against the regulatory requirement of 15%, indicating sufficient capital cushion for business growth
Rating Outlook Upgrade
Acuite Ratings has upgraded its rating outlook from A-/ Negative to A-/ Stable as on 23rd January 2024 on account of improvement in profitability, operating and asset quality metrics