Mahindra & Mahindra Financial Services Limited CC-Feb26.pdf · 2026-01-28
Great set of numbers. Just asking a bit more on the NIM part. And you rightly kind of peel the layers of it. So, if you were to see from here and where the direction of business moving and also the competitive environment, there could be, I mean, as you incrementally go to some of the probably a low-yielding segment or even in the existing segment competition increa ses. So, the yields will come under pressure a bit. Can you also help here that if the fee, that entire interplay of different factors, including your loan- related fee and insurance fee, this 1.5% is it kind of at the kind of level that you're actually going to max out and you see this thing just to improve? And then, of course, on the cost of borrowing side, of course, you will continue to get some benefits from the rate decline, but then again, increasingly kind of have its kind of own impact. So this 7.5% of basically NIM that is currently. Is it a sustainable level you are seeing? Or do you see that, okay, as scope for it to further expand or is it kind of a peaking out? So that's my question one.
Okay. Okay. And on now slightly again on opex part, I mean, given that you are looking to slightly move away also from some productivity gain will be on the wheel side, but this new initiative might require some kind of expenses. This opex, do you see a scope for improvement in opex over the medium term? Or this is where you would be, I mean, over the foreseeable future?