Manappuram Finance logo

Manappuram Finance

MANAPPURAM NSE

Key Fundamentals

SmallcapNBFCFinancial Services
Market Cap
₹29,570 Cr
P/E (TTM)
19.71
EBITDA
₹5,362 Cr
Return on Equity
6.19%
Debt to Equity
3.3
Book Value
₹165.04
EPS (TTM)
₹15.97
52W High
₹381.55
52W Low
₹245.15

Price-based figures as of 9 Oct 2026, 3:50 pm IST · EPS basis: Consolidated · TTM

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has been maintaining a healthy dividend payout of 19.8%
  • Promoter holding has increased by 9.89% over last quarter.

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.48% over past five years.
  • Company has a low return on equity of 11.9% over last 3 years.

Growth Rate

Revenue Growth
-5.05% lower than 3Y
Net Income Growth
-17.5% lower than 3Y
Cash Flow Change
—
EBITDA Margin (Avg.)
3.17% higher than 3Y

AI Analysis — Bull vs Bear

Figures as of 1 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-01 close, Manappuram Finance traded at ₹308.9, giving it a market capitalisation of ₹29,016.09 crore, a trailing P/E of 19.34 and a price-to-book of 1.87. Trailing-twelve-month profit has grown 81%, but that recovery comes off a weak base: 3-year and 5-year profit CAGRs are -13% and -10%, and the latest ROE is 6.19% against a 10-year average of 17%. Promoter holding went up 9.89% last quarter, while low interest coverage and slow sales growth remain concerns.

Bull Case 7
  • Trailing-twelve-month profit grew 81%, which points to a sharp earnings recovery after several years of declining profits.
  • Promoter holding rose 9.89% over the last quarter, a big jump in promoter ownership.
  • Over 10 years the company has compounded sales at 15% and profit at 11%, and averaged an ROE of 17%. That suggests the business has earned much higher returns than it does now.
  • The stock has a 3-year CAGR of 30% and a 10-year CAGR of 13%, so it has created value for shareholders over longer periods.
  • The stock closed at ₹308.9 on 2026-10-01, about 19% below its 52-week high of ₹381.55. Some of the recent rally has already been given back.
  • The company keeps a dividend payout of 19.8% while still holding back most of its earnings to grow its loan book.
  • EPS of ₹15.97 at a price of ₹308.9 gives an earnings yield of about 5.2%. If TTM profit growth of 81% continues, the trailing P/E of 19.34 would compress.
Bear Case 8
  • ROE is only 6.19% (7% last year), far below the 3-year average of 12%, the 5-year average of 13% and the 10-year average of 17%. Profitability has weakened a lot.
  • Profit has fallen at a -13% CAGR over 3 years and a -10% CAGR over 5 years. The 81% TTM rebound comes off a low base and has not yet reversed the longer decline.
  • The company has low interest coverage. For a lender this is a risk, because higher borrowing costs or more credit losses would hit earnings quickly.
  • A price-to-book of 1.87 and a trailing P/E of 19.34 are rich for a business currently earning 6.19% ROE and 7.22% ROCE.
  • Sales growth has been slow: 5-year compounded sales growth is 8% (8.48% on the data provider's measure) and TTM sales growth is just 5%, against a 10-year CAGR of 15%.
  • The dividend yield is only 0.32%, so investors get very little income while waiting for returns to recover.
  • The stock is about 26% above its 52-week low of ₹245.15, and its 1-year CAGR of 8% trails its 3-year CAGR of 30%. Momentum has slowed.
  • No debt-to-equity figure is available. Leverage can't be fully checked, which matters for an NBFC that also has low interest coverage.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

24d ago
Neutral 1
  • ₹850 Cr NCD private placement Aug 17

    Manappuram Finance allotted ₹850 crore in NCDs via private placement across two series — 6-year at 9.05% coupon and 10-year at 9.10% coupon. This is routine debt raising to support lending operations.

TL;DR: Limited news flow for Manappuram Finance this period. The ₹850 crore NCD issuance at ~9% coupon rates signals steady access to debt markets, though it reflects the higher borrowing cost environment for NBFCs. Watch for upcoming quarterly results and any RBI regulatory developments affecting gold loan NBFCs for clearer directional signals.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
2,030
2,161
2,305
2,348
2,488
2,633
2,560
2,361
2,262
2,273
2,354
2,614
3,034
Expenses
671
675
729
773
846
892
1,191
1,637
1,233
1,018
1,034
877
906
Financing Profit
710
796
827
796
793
835
444
-172
174
380
375
627
854
Fin. Margin %
35%
37%
36%
34%
32%
32%
17%
-7%
8%
17%
16%
24%
28%
Other Income
27
13
21
14
24
4
3
2
3
2
5
12
6
Interest
648
689
749
779
848
906
925
895
855
876
945
1,109
1,274
Depreciation
56
62
62
65
64
67
70
66
75
79
77
75
78
PBT
681
747
786
746
753
773
376
-236
102
302
303
564
782
Tax %
27%
25%
27%
24%
26%
26%
26%
-14%
-30%
28%
21%
28%
25%
Net Profit
498
561
575
564
557
572
278
-203
132
217
239
405
585
EPS in Rs
5.86
6.6
6.77
6.63
6.55
6.74
3.33
-2.26
1.63
2.6
2.85
4.3
6.22
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
1,988
2,369
3,406
3,421
4,180
5,465
6,331
6,061
6,700
8,848
10,012
9,509
10,275
Expenses
648
820
1,011
1,344
1,365
1,547
1,669
2,133
2,317
2,848
4,557
4,162
3,835
Financing Profit
462
601
1,225
1,047
1,469
2,086
2,443
1,916
2,195
3,134
1,913
1,561
2,236
Fin. Margin %
23%
25%
36%
31%
35%
38%
39%
32%
33%
35%
19%
16%
22%
Other Income
5
3
3
58
63
86
44
65
50
72
20
15
25
Interest
877
947
1,169
1,030
1,345
1,832
2,219
2,011
2,188
2,866
3,541
3,786
4,204
Depreciation
54
56
63
68
75
164
171
198
204
246
267
307
310
PBT
414
548
1,166
1,037
1,457
2,007
2,316
1,784
2,041
2,960
1,666
1,270
1,950
Tax %
34%
35%
35%
35%
35%
26%
26%
26%
26%
26%
28%
22%
—
Net Profit
271
355
758
676
949
1,480
1,725
1,329
1,500
2,197
1,204
993
1,445
EPS in Rs
3.23
4.2
8.98
8.04
11.16
17.37
20.37
15.7
17.67
25.86
14.37
10.68
15.97
Div. Payout %
42%
54%
17%
25%
19%
16%
10%
19%
17%
13%
28%
19%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
168
168
168
169
169
169
169
169
169
169
169
188
Reserves
2,465
2,590
3,193
3,645
4,378
5,577
7,138
8,199
9,476
11,379
12,263
15,863
Borrowing
8,632
9,638
10,986
12,607
15,297
23,022
23,327
24,816
29,167
34,320
36,077
57,837
Other Liabilities
352
443
804
609
602
767
703
623
693
880
695
672
Total Liabilities
11,616
12,839
15,152
17,030
20,446
29,535
31,338
33,808
39,504
46,748
49,205
74,559
Fixed Assets
206
230
222
310
367
803
926
1,052
1,094
1,070
1,134
1,057
CWIP
1
0
1
0
1
3
8
13
17
33
11
27
Investments
217
49
5
5
174
90
338
421
534
726
790
2,051
Other Assets
11,193
12,560
14,925
16,715
19,904
28,639
30,066
32,322
37,860
44,918
47,269
71,424
Total Assets
11,616
12,839
15,152
17,030
20,446
29,535
31,338
33,808
39,504
46,748
49,205
74,559
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-888
-1,042
-1,271
-33
-1,661
-3,620
-619
-423
-3,103
-3,450
-467
-20,238
Investing
649
72
-25
-148
-371
26
-186
-193
-616
-601
-125
-1,632
Financing
265
772
1,211
293
2,388
6,049
59
438
3,849
4,092
1,132
23,834
Net Cash Flow
26
-198
-84
112
356
2,455
-747
-177
130
41
541
1,965
Free Cash Flow
-912
-1,121
-1,324
-193
-1,787
-3,716
-672
-585
-3,275
-3,585
-662
-20,427
CFO/OP
-56
-56
-36
17
-40
-81
0
2
-60
-44
5
-369
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
11%
13%
25%
19%
22%
28%
26%
17%
17%
21%
10%
7%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs22.30%Promot.41.66%Others5.63%DIIs14.85%Public15.56%As ofJun 2026

Documents

Frequently Asked Questions about Manappuram Finance

What does Manappuram Finance Ltd do?
Manappuram Finance is a Non-Banking Finance Company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The Company is a Systemically Important Non-Deposit taking NBFC(NBFC-ND).(Source : 202003 Annual Report Page No:120)
Where is Manappuram Finance Ltd (MANAPPURAM) listed?
Manappuram Finance Ltd trades as MANAPPURAM on the NSE and under code 531213 on the BSE.
Which sector does Manappuram Finance Ltd belong to?
Manappuram Finance Ltd is classified under the Financial Services sector, in the Finance industry.
What is the market capitalisation of Manappuram Finance Ltd?
Manappuram Finance Ltd has a market capitalisation of ₹29,570 Cr as of 9 Oct 2026, which places it in the Large Cap band.
What is the PE ratio of Manappuram Finance Ltd?
Manappuram Finance Ltd trades at a PE ratio of 19.71 as of 9 Oct 2026, on earnings per share of ₹15.97, against a book value of ₹165.04 per share.
What is the 52-week high and low of Manappuram Finance Ltd?
Over the last 52 weeks Manappuram Finance Ltd has traded between ₹245.15 and ₹381.55 as of 9 Oct 2026.
Does Manappuram Finance Ltd pay dividends?
Manappuram Finance Ltd has a dividend yield of 0.33%.
What is the Return on Equity (ROE) of Manappuram Finance Ltd?
Manappuram Finance Ltd reported a return on equity of 6.19%. Its debt-to-equity ratio is 3.30.

Company Information

Manappuram Finance is a Non-Banking Finance Company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The Company is a Systemically Important Non-Deposit taking NBFC(NBFC-ND).(Source : 202003 Annual Report Page No:120)

Website manappuram.com
CEO Mr. Vazhappully Padmanabhan Nandakumar M.Sc
Employees 24,650
Listed 1996-11-06
Face Value ₹ 2
Shares Outstanding 93,93,36,102

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