STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2013PART - I

Particulars

STANDALONE CONSOLIDATED

Quarter ended Nine months period ended Year ended Quarter ended Nine months period ended Year ended

(Audited) (Audited)

Rs. in Lacs

Income from operations

Expenses: a) Employee bene�ts expenseb) Depreciation and amortization expensec) Loan provisions and write o�d) Other expenses

Pro�t from operations before other income, �nance costs and exceptional items (1-2)Other income Pro�t from ordinary activities before �nance costs and exceptional items(3+4)Finance costsPro�t from ordinary activities after �nance costs but before exceptional items (5-6)Exceptional items (net) (refer note no.7) Pro�t from ordinary activities before tax (7+8)Tax expenseNet pro�t after taxes for the period / year (9-10)Minority interestNet pro�t after taxes and minority interest (11-12)

Paid-up equity share capital (Face Value of Rs.2/- each)ReservesEarnings per share # (refer note no.5) a) Basic (Rs.) b) Diluted (Rs.)

Total expenses

Total Income from operations

120314.49

7013.95582.46

12619.3114899.37

35115.09

85199.40957.11

86156.5152526.11

33630.40 -

33630.4011514.00

22116.40 -

22116.40

3.933.89

120314.49

126581.33

6712.76582.94

17962.2817982.44

43240.42

83340.91531.45

83872.3658914.69

24957.67 -

24957.678543.00

16414.67 -

16414.67

2.912.89

126581.33

128579.88

12079.33625.57

12858.9712841.63

38405.50

90174.38487.86

90662.2454774.58

35887.66 -

35887.6612356.48

23531.18281.45

23249.73

4.134.09

128579.88

135857.97

12362.97630.38

18276.5215642.89

46912.76

88945.21462.67

89407.8861409.19

27998.69 -

27998.699510.94

18487.75251.75

18236.00

3.243.21

135857.97

105725.80

9282.28606.82

8263.3111258.18

29410.59

76315.21470.32

76785.5344636.07

32149.46 -

32149.4610461.49

21687.9767.27

21620.70

4.023.97

105725.80

380905.81

35734.911918.47

44150.5040048.10

121851.98

259053.831548.09

260601.92165659.4694942.46

- 94942.4632467.65

62474.81683.87

61790.94

11264.76

10.9710.86

380905.81

290932.30

28158.471748.93

25524.8529510.24

84942.49

205989.811382.79

207372.60120662.1586710.45

- 86710.4528498.62

58211.83144.80

58067.03

11253.36

11.1310.99

290932.30

409498.79

37928.822365.90

28815.0242913.81

112023.55

297475.241797.35

299272.59167059.05

132213.543052.27

135265.8142375.08

92890.73187.19

92703.54

11260.40446695.15

17.4317.23

409498.79

99553.89

5221.06562.06

8151.5612934.97

26869.65

72684.24526.77

73211.0143436.87

29774.14 -

29774.149751.00

20023.14 -

20023.14

3.733.69

99553.89

356142.30

19651.241789.44

43103.3446975.44

111519.46

244622.842093.36

246716.20159053.3087662.90

- 87662.9030010.00

57652.90 -

57652.90

11264.76

10.2410.14

356142.30

274594.57

16949.611644.35

25049.0234439.65

78082.63

196511.942269.78

198781.72117163.3981618.33

- 81618.3326730.00

54888.33 -

54888.33

11253.36

10.5210.39

274594.57

385672.15

22340.202224.33

28334.3449632.86

102531.73

283140.423797.75

286938.17161876.50

125061.672858.21

127919.8839650.70

88269.18 -

88269.18

11260.40434197.48

16.5916.40

385672.15

1

2

34

56

78

910

1112

13

141516

31st Dec2013

31st Dec2013

31st Mar2013

31st Dec2012

31st Dec2012

30th Sep2013

31st Dec2013

31st Dec2013

31st Mar2013

31st Dec2012

31st Dec2012

30th Sep2013

# Earnings per share for the interim period is not annualised.

SELECT INFORMATION FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2013PART - II

Particulars

STANDALONE CONSOLIDATED

Quarter ended Nine months period ended Year ended Quarter ended Nine months period ended Year ended

Public Shareholding - Number of shares (refer note no.5) - Percentage of shareholding Promoters and Promoter Group Shareholding : a) Pledged / encumbered - Number of shares - Percentage of shares (as a % of the total shareholding of Promoter and Promoter Group) - Percentage of shares (as a % of the total share capital of the Company) b) Non-encumbered - Number of shares (refer note no.5) - Percentage of shares (as a % of the total shareholding of Promoter and Promoter Group) - Percentage of shares (as a % of the total share capital of the Company)

27203056847.83%

- - -

296734392100.00%

52.17%

27196670347.82%

- - -

296798257100.00%

52.18%

27146058047.73%

- - -

297304380100.00%

52.27%

27203056847.83%

- - -

296734392100.00%

52.17%

27146058047.73%

- - -

297304380100.00%

52.27%

27181251547.79%

- - -

296952445100.00%

52.21%

27203056847.83%

- - -

296734392100.00%

52.17%

27196670347.82%

- - -

296798257100.00%

52.18%

27146058047.73%

- - -

297304380100.00%

52.27%

27203056847.83%

- - -

296734392100.00%

52.17%

27146058047.73%

- - -

297304380100.00%

52.27%

27181251547.79%

- - -

296952445100.00%

52.21%

PARTICULARS OF SHAREHOLDING A

1

2

Particulars Quarter ended 31st Dec 2013

B INVESTOR COMPLAINTSPending at the beginning of the quarterReceived during the quarterDisposed o� during the quarterRemaining unresolved at the end of the quarter

-99-

31st Dec2013

31st Dec2013

31st Mar2013

31st Dec2012

31st Dec2012

30th Sep2013

31st Dec2013

31st Dec2013

31st Mar2013

31st Dec2012

31st Dec2012

30th Sep2013

The above �nancial results for the quarter and nine months period ended 31st December, 2013 have been subjected to limited review by the Statutory Auditors of the Company. The �nancials were reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on 22nd January, 2014.

The Consolidated results include the �nancial results of the subsidiaries Mahindra Insurance Brokers Ltd. (85%) (Previous year : 100%), Mahindra Rural Housing Finance Ltd. (87.50%), Mahindra Business & Consulting Services Private Ltd. (100%) and �nancial results of a (49%) Joint Venture company, Mahindra Finance USA LLC, in the United States.

The Company is engaged primarily in the business of �nancing and accordingly there are no separate reportable segments as per Accounting Standard 17 dealing with Segment Reporting.

The Company has complied with the prudential guidelines issued by the Reserve Bank of India in respect of Income Recognition and Provision for Non-Performing Assets.

Each Equity share of the face value of Rs.10/- fully paid up was sub-divided into �ve Equity shares of Rs.2/- each fully paid up in February, 2013. Accordingly, all comparative reference to the number of shares reported for the quarter and nine months period ended 31st December, 2012 have been restated to make them comparable. In accordance with the Accounting Standard 20 pertaining to Earnings Per Share, the Company has given e�ect to the above mentioned sub-division of shares in computing the Earnings Per Share reported for the quarter and nine months period ended 31st December, 2012.

During the quarter ended 31st December, 2013, the Company has made an additional investments of Rs.554.02 lacs equivalent to US $ 0.90 million in Mahindra Finance USA LLC, a Joint Venture company formed jointly with De Lage Landen Financial Services Inc. in the United States (nine months period ended 31st December, 2013 Rs.2193.73 lacs equivalent to US $ 3.84 million). Exceptional items (net) for the year ended 31st March, 2013 included the following - i) Pro�t of Rs.6426.21 lacs on a standalone basis (Rs.6620.27 lacs on a consolidated basis) on sale of equity shares of subsidiary company, Mahindra Insurance Brokers Ltd. ii) Additional general provision on standard assets amounting to Rs.3568.00 lacs, which the Company has decided to create on a prudent basis from the quarter/year ended 31st March, 2013.

In the standalone results, Other expenses for the quarter and nine months period ended 31st December, 2013 includes Rs.4926.51 lacs and Rs.13619.74 lacs respectively (quarter ended 30th Sep, 2013 : Rs.4513.32 lacs, quarter and nine months period ended 31st December, 2012 : Rs.3485.13 lacs and Rs.10167.14 lacs respectively and year ended 31st March, 2013 : Rs.13823.84 lacs) incurred towards professional fees for manpower services provided by Mahindra Business & Consulting Services Private Ltd.

Previous period/year �gures have been regrouped / reclassi�ed, wherever found necessary, to conform to current period/year classi�cation.

1)

2)

3)

4)

5)

6)

7)

8)

9)

Notes :

For and on behalf of the Board of DirectorsMahindra & Mahindra Financial Services Ltd.

Sd/-Ramesh Iyer

Managing DirectorDate 22nd January, 2014Place Mumbai

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