Manappuram Finance Ltd

Manappuram Fin. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Manappuram Finance Ltd

₹ 185 -0.75%
14 Jun - close price
manappuram.com BSE: 531213 NSE: MANAPPURAM
About

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)

Key Points

Fast growth period (FY08-FY12)
Due to rapid increase in gold prices, Manappuram grew their branch network > 6.5x in a period of 4-years, from 436 branches in FY08 to 2,908 in FY12. [1] During this period, AUM grew at >90% CAGR reaching 11,532 Cr. and gold tonnage increased to 65.6 ton.
As a result, RBI removed priority sector status for gold financiers in March 2012 and further reduced loan to value ratio to 60% for NBFCs vs 85% for banks.[2] This was later normalized to the previous limit in September 2013.

Website BSE NSE
  • Market Cap ₹ 15,690 Cr.
  • Current Price ₹ 185
  • High / Low ₹ 207 / 122
  • Stock P/E 9.46
  • Book Value ₹ 122
  • Dividend Yield 1.92 %
  • ROCE 13.0 %
  • ROE 17.2 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 19.2%

Cons

  • The company has delivered a poor sales growth of 11.3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 1,315 1,238 1,170 1,101 1,055 1,110 1,245 1,244 1,208 1,340 1,451 1,526 1,508
Interest 408 363 340 352 337 351 367 398 383 415 443 481 489
264 271 322 368 327 335 371 377 376 385 402 415 416
Financing Profit 643 603 508 381 391 424 507 468 450 540 606 630 603
Financing Margin % 49% 49% 43% 35% 37% 38% 41% 38% 37% 40% 42% 41% 40%
3 6 0 10 8 1 8 5 7 17 6 3 5
Depreciation 39 38 34 45 40 35 41 42 44 44 47 48 49
Profit before tax 608 570 474 346 359 390 473 431 413 513 564 584 560
Tax % 25% 25% 25% 25% 26% 26% 26% 26% 25% 26% 26% 27% 24%
458 425 355 259 265 290 349 318 309 381 420 429 428
EPS in Rs 5.41 5.02 4.19 3.06 3.13 3.43 4.12 3.76 3.65 4.50 4.96 5.06 5.06
Gross NPA % 1.90% 2.00% 1.60% 1.40% 3.00% 1.40% 2.00% 2.00% 1.33% 1.45% 1.56% 1.99% 1.90%
Net NPA % 1.50% 1.60% 1.30% 1.00% 2.70% 1.30% 1.80% 1.00% 1.15% 1.24% 1.35% 1.75% 1.70%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 2,260 2,100 1,976 2,213 3,007 2,927 3,418 4,311 5,172 4,563 4,802 5,830
Interest 1,189 1,027 872 884 1,003 794 1,018 1,391 1,720 1,392 1,498 1,828
709 678 642 759 833 1,043 1,123 1,127 1,048 1,288 1,460 1,617
Financing Profit 361 396 461 570 1,172 1,090 1,277 1,793 2,404 1,883 1,844 2,385
Financing Margin % 16% 19% 23% 26% 39% 37% 37% 42% 46% 41% 38% 41%
7 11 5 2 1 27 9 41 21 24 25 25
Depreciation 62 64 54 53 58 61 68 154 156 157 163 188
Profit before tax 306 343 412 519 1,115 1,055 1,218 1,680 2,270 1,750 1,706 2,222
Tax % 32% 34% 34% 35% 35% 35% 35% 27% 25% 25% 26% 25%
208 226 271 337 726 689 790 1,230 1,698 1,305 1,266 1,658
EPS in Rs 2.48 2.69 3.22 4.01 8.62 8.18 9.38 14.56 20.06 15.41 14.96 19.59
Dividend Payout % 61% 67% 42% 45% 17% 24% 23% 19% 10% 19% 20% 18%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 4%
TTM: 21%
Compounded Profit Growth
10 Years: 22%
5 Years: 16%
3 Years: -1%
TTM: 31%
Stock Price CAGR
10 Years: 23%
5 Years: 6%
3 Years: 5%
1 Year: 48%
Return on Equity
10 Years: 19%
5 Years: 20%
3 Years: 17%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 168 168 168 168 168 169 169 169 169 169 169 169
Reserves 2,275 2,324 2,459 2,569 3,142 3,644 4,224 5,187 6,732 7,774 8,811 10,180
9,815 7,795 8,392 8,800 9,163 10,238 12,743 18,093 18,234 18,541 19,804 23,001
470 551 313 374 672 543 511 338 518 487 554 623
Total Liabilities 12,728 10,838 11,332 11,911 13,146 14,593 17,646 23,787 25,654 26,971 29,338 33,973
210 197 171 190 179 265 326 741 861 892 869 815
CWIP 31 5 1 0 0 0 1 3 6 11 16 33
Investments 698 812 379 324 324 378 1,011 932 1,200 1,215 1,454 1,766
11,789 9,825 10,780 11,397 12,643 13,950 16,309 22,111 23,587 24,852 26,998 31,358
Total Assets 12,728 10,838 11,332 11,911 13,146 14,593 17,646 23,787 25,654 26,971 29,338 33,973

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,262 2,923 -827 -361 -283 -53 -1,442 -2,506 150 -112 -298 -2,863
-371 -1 508 -27 -32 -201 -760 34 -261 -118 -280 -307
-694 -2,923 261 181 248 283 2,206 4,268 -87 -100 888 2,826
Net Cash Flow 197 -0 -58 -207 -68 28 3 1,796 -197 -330 310 -343

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 9% 9% 11% 13% 24% 19% 19% 25% 28% 18% 15% 17%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
34.99% 35.05% 35.06% 35.06% 35.15% 35.18% 35.20% 35.20% 35.20% 35.20% 35.20% 35.20%
35.86% 34.93% 34.81% 29.83% 28.91% 28.36% 30.07% 30.17% 30.73% 27.08% 28.95% 31.99%
10.98% 13.43% 14.33% 15.80% 13.50% 12.18% 11.57% 13.54% 10.65% 12.25% 12.15% 9.50%
18.17% 16.59% 15.80% 19.31% 22.44% 24.27% 23.16% 21.11% 23.42% 25.47% 23.69% 23.32%
No. of Shareholders 2,31,3952,56,3072,61,4763,46,5434,06,9374,22,0874,00,3723,90,4903,70,9933,50,7103,85,1174,37,488

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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