Manappuram Finance Ltd

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

Manappuram Finance Ltd

₹ 192 1.16%
24 Apr - 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 ₹ 16,290 Cr.
  • Current Price ₹ 192
  • High / Low ₹ 202 / 102
  • Stock P/E 7.98
  • Book Value ₹ 125
  • Dividend Yield 1.56 %
  • ROCE 11.7 %
  • ROE 16.6 %
  • Face Value ₹ 2.00
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Pros

Cons

  • 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Revenue 1,644 1,622 1,563 1,532 1,484 1,481 1,502 1,696 1,715 1,772 2,026 2,157 2,305
Interest 557 524 493 492 531 495 505 528 566 589 648 689 749
394 440 451 526 572 584 568 587 575 587 671 675 729
Financing Profit 692 658 619 514 381 402 429 581 574 596 706 792 827
Financing Margin % 42% 41% 40% 34% 26% 27% 29% 34% 33% 34% 35% 37% 36%
6 8 10 22 22 10 1 18 19 27 31 17 21
Depreciation 41 44 43 41 56 58 49 46 53 56 56 62 62
Profit before tax 657 622 586 495 348 354 381 553 541 567 681 747 786
Tax % 26% 25% 26% 25% 25% 26% 26% 26% 27% 27% 27% 25% 27%
483 468 437 370 261 261 282 409 393 415 498 561 575
EPS in Rs 5.70 5.53 5.16 4.37 3.08 3.08 3.33 4.82 4.63 4.88 5.86 6.60 6.77
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 80 165 2,100 1,988 2,369 3,406 3,421 4,180 5,465 6,331 6,061 6,684 8,260
Interest 14 39 1,027 877 947 1,169 1,030 1,345 1,832 2,219 2,011 2,188 2,676
32 78 678 648 820 1,011 1,344 1,365 1,547 1,669 2,133 2,317 2,663
Financing Profit 34 48 396 462 601 1,225 1,047 1,469 2,086 2,443 1,916 2,179 2,922
Financing Margin % 42% 29% 19% 23% 25% 36% 31% 35% 38% 39% 32% 33% 35%
0 1 11 5 3 3 58 63 86 44 65 66 96
Depreciation 2 3 64 54 56 63 68 75 164 171 198 204 238
Profit before tax 33 46 343 414 548 1,166 1,037 1,457 2,007 2,316 1,784 2,041 2,781
Tax % 34% 35% 34% 34% 35% 35% 35% 35% 26% 26% 26% 26%
21 30 226 271 355 758 676 949 1,480 1,725 1,329 1,500 2,049
EPS in Rs 0.97 0.86 2.69 3.23 4.20 8.98 8.04 11.16 17.37 20.37 15.70 17.67 24.11
Dividend Payout % 10% 15% 67% 42% 54% 17% 25% 19% 16% 10% 19% 17%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 7%
TTM: 29%
Compounded Profit Growth
10 Years: %
5 Years: 17%
3 Years: 1%
TTM: 52%
Stock Price CAGR
10 Years: 24%
5 Years: 10%
3 Years: 9%
1 Year: 50%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 19%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 11 17 168 168 168 168 169 169 169 169 169 169 169
Reserves 32 144 2,324 2,465 2,590 3,193 3,645 4,378 5,577 7,138 8,199 9,476 10,403
Preference Capital 51 4 0 0 0 0 0 0 0 0 0 0
174 451 7,795 8,632 9,638 10,986 12,607 15,297 23,022 23,327 24,816 29,167 32,922
75 48 551 352 443 804 609 602 767 703 623 693 814
Total Liabilities 293 660 10,838 11,616 12,839 15,152 17,030 20,446 29,535 31,338 33,808 39,504 44,308
16 28 202 206 230 222 310 367 803 926 1,052 1,094 1,093
CWIP 0 0 5 1 0 1 0 1 3 8 13 17 24
Investments 2 1 796 217 49 5 5 174 90 338 421 534 543
274 631 9,836 11,193 12,560 14,925 16,715 19,904 28,639 30,066 32,322 37,860 42,648
Total Assets 293 660 10,838 11,616 12,839 15,152 17,030 20,446 29,535 31,338 33,808 39,504 44,308

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-57 -235 2,924 -888 -1,042 -1,271 -33 -1,661 -3,620 -619 -423 -3,103
-6 -10 2 649 72 -25 -148 -371 26 -186 -193 -616
109 290 -2,923 265 772 1,211 293 2,388 6,049 59 438 3,849
Net Cash Flow 46 46 4 26 -198 -84 112 356 2,455 -747 -177 130

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 63% 29% 11% 13% 25% 19% 22% 28% 26% 17% 17%

Shareholding Pattern

Numbers in percentages

4 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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