M&M Financial Services Q4 Review - On The Descent: Prabhudas Lilladher
An Indian two thousand rupee banknote is arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

M&M Financial Services Q4 Review - On The Descent: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Mahindra and Mahindra Financial Services Ltd.'s Q4 FY21 earnings stood disappointed characterized by -

1. sustained elevated non-performing asset levels at 9% (average- 8.5% since past eight quarters; average- 9.2% since 4.5 years)

2. bleak recovery scenario with 19% of total morat availed contracts exhibiting zero payments until September 2020 (versus 6% in Q3 FY21),

3. write-offs climb to 5% in FY21 versus 1% in FY19

4. while provisions spiked, 70% profit and loss provisioning charge was led by write-offs in Q4 FY21

5. continued elevated contracts under 90 days past due category (5% plus live cases since FY20) despite 100% collection efficiency for Q4 FY21.

Click on the attachment to read the full report:

Prabhudas Lilladher M&M Financial Services Q4FY21 Result Review.pdf


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