Why M&M Financial Services is stock pick of the week despite reporting its worst ever quarterly results

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For the first quarter of 2021-22, Mahindra & Mahindra Financial Services (M&M Fin) reported its worst ever quarterly results in over a decade and disappointed the street on all major parameters. Disbursement fell by 35% q-o-q due to second wave induced restrictions and weak loan demand across segments. Sharp jump in gross non-performing assets (NPA), up to 15.5% against 9% in fourth quarter of 2020-21 and 9.2% in first quarter of 2020-21, was