Manappuram Finance Ltd
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)
- Market Cap ₹ 14,656 Cr.
- Current Price ₹ 173
- High / Low ₹ 199 / 102
- Stock P/E 9.53
- Book Value ₹ 114
- Dividend Yield 1.73 %
- ROCE 11.6 %
- ROE 15.0 %
- Face Value ₹ 2.00
Pros
Cons
- The company has delivered a poor sales growth of 10.4% over past five years.
- Company might be capitalizing the interest cost
* 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 2,645 | 2,260 | 2,100 | 1,976 | 2,213 | 3,007 | 2,927 | 3,418 | 4,311 | 5,172 | 4,563 | 4,802 | 5,517 |
Interest | 1,089 | 1,189 | 1,027 | 872 | 884 | 1,003 | 794 | 1,018 | 1,391 | 1,720 | 1,392 | 1,498 | 1,722 |
641 | 709 | 678 | 642 | 759 | 833 | 1,043 | 1,123 | 1,127 | 1,048 | 1,288 | 1,460 | 1,577 | |
Financing Profit | 915 | 361 | 396 | 461 | 570 | 1,172 | 1,090 | 1,277 | 1,793 | 2,404 | 1,883 | 1,844 | 2,218 |
Financing Margin % | 35% | 16% | 19% | 23% | 26% | 39% | 37% | 37% | 42% | 46% | 41% | 38% | 40% |
10 | 7 | 11 | 5 | 2 | 1 | 27 | 9 | 41 | 21 | 24 | 25 | 40 | |
Depreciation | 48 | 62 | 64 | 54 | 53 | 58 | 61 | 68 | 154 | 156 | 157 | 163 | 183 |
Profit before tax | 877 | 306 | 343 | 412 | 519 | 1,115 | 1,055 | 1,218 | 1,680 | 2,270 | 1,750 | 1,706 | 2,074 |
Tax % | 33% | 32% | 34% | 34% | 35% | 35% | 35% | 35% | 27% | 25% | 25% | 26% | |
591 | 208 | 226 | 271 | 337 | 726 | 689 | 790 | 1,230 | 1,698 | 1,305 | 1,266 | 1,539 | |
EPS in Rs | 7.03 | 2.48 | 2.69 | 3.22 | 4.01 | 8.62 | 8.18 | 9.38 | 14.56 | 20.06 | 15.41 | 14.96 | 18.17 |
Dividend Payout % | 21% | 61% | 67% | 42% | 45% | 17% | 24% | 23% | 19% | 10% | 19% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 10% |
3 Years: | 4% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 13% |
3 Years: | 1% |
TTM: | 26% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 7% |
3 Years: | 5% |
1 Year: | 42% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 20% |
3 Years: | 19% |
Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 168 | 168 | 168 | 168 | 168 | 168 | 169 | 169 | 169 | 169 | 169 | 169 | 169 |
Reserves | 2,213 | 2,275 | 2,324 | 2,459 | 2,569 | 3,142 | 3,644 | 4,224 | 5,187 | 6,732 | 7,774 | 8,811 | 9,481 |
9,294 | 9,815 | 7,795 | 8,392 | 8,800 | 9,163 | 10,238 | 12,743 | 18,093 | 18,234 | 18,541 | 19,804 | 22,894 | |
401 | 470 | 551 | 313 | 374 | 672 | 543 | 511 | 338 | 518 | 487 | 554 | 563 | |
Total Liabilities | 12,077 | 12,728 | 10,838 | 11,332 | 11,911 | 13,146 | 14,593 | 17,646 | 23,787 | 25,654 | 26,971 | 29,338 | 33,106 |
224 | 210 | 197 | 171 | 190 | 179 | 265 | 326 | 741 | 861 | 892 | 869 | 850 | |
CWIP | 14 | 31 | 5 | 1 | 0 | 0 | 0 | 1 | 3 | 6 | 11 | 16 | 24 |
Investments | 218 | 698 | 812 | 379 | 324 | 324 | 378 | 1,011 | 932 | 1,200 | 1,215 | 1,454 | 1,757 |
11,620 | 11,789 | 9,825 | 10,780 | 11,397 | 12,643 | 13,950 | 16,309 | 22,111 | 23,587 | 24,852 | 26,998 | 30,475 | |
Total Assets | 12,077 | 12,728 | 10,838 | 11,332 | 11,911 | 13,146 | 14,593 | 17,646 | 23,787 | 25,654 | 26,971 | 29,338 | 33,106 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-2,066 | 1,262 | 2,923 | -827 | -361 | -283 | -53 | -1,442 | -2,506 | 150 | -112 | -298 | |
-459 | -371 | -1 | 508 | -27 | -32 | -201 | -760 | 34 | -261 | -118 | -280 | |
2,534 | -694 | -2,923 | 261 | 181 | 248 | 283 | 2,206 | 4,268 | -87 | -100 | 888 | |
Net Cash Flow | 8 | 197 | -0 | -58 | -207 | -68 | 28 | 3 | 1,796 | -197 | -330 | 310 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROE % | 27% | 9% | 9% | 11% | 13% | 24% | 19% | 19% | 25% | 28% | 18% | 15% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Allotment 16h
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 Mar
- Closure of Trading Window 25 Mar
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 25 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Nov 2016TranscriptPPT
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Dec 2015TranscriptNotesPPT
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.