Manappuram Finance Ltd

About [ edit ]

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 14,537 Cr.
  • Current Price 172
  • High / Low 187 / 74.2
  • Stock P/E 8.81
  • Book Value 76.2
  • Dividend Yield 1.28 %
  • ROCE 16.0 %
  • ROE 28.6 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 40.19% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 19.99%

Cons

  • Company has low interest coverage ratio.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
Revenue 887 936 1,014 1,081 1,148 1,191 1,343 1,436 1,605 1,513 1,566 1,644
Interest 268 294 317 354 379 406 448 469 581 567 571 557
340 325 341 340 359 348 354 381 460 413 421 394
Financing Profit 280 317 356 387 410 437 541 586 565 533 574 692
Financing Margin % 32% 34% 35% 36% 36% 37% 40% 41% 35% 35% 37% 42%
Other Income 14 11 13 20 18 10 47 15 13 4 12 6
Depreciation 18 19 19 19 19 40 40 41 44 44 42 41
Profit before tax 276 309 350 388 409 407 548 560 534 492 544 657
Tax % 34% 35% 36% 36% 32% 34% 21% 26% 25% 25% 26% 26%
Net Profit 179 198 222 245 275 264 428 410 395 368 406 482
EPS in Rs 2.13 2.35 2.64 2.91 3.26 3.14 5.08 4.86 4.67 4.36 4.79 5.70
Gross NPA % 0.70% 0.70% 0.70% 0.58% 0.55% 0.71% 0.60% 0.50% 0.88%
Net NPA % 0.30% 0.30% 0.20% 0.30% 0.40% 0.30% 0.20%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
Revenue 20 44 80 165 2,100 1,988 2,369 3,406 3,421 4,180 5,465 6,327
Interest 7 9 14 39 1,027 877 947 1,169 1,030 1,345 1,832 2,276
7 18 32 78 678 648 820 1,011 1,344 1,365 1,547 1,688
Financing Profit 7 17 34 48 396 462 601 1,225 1,047 1,469 2,086 2,364
Financing Margin % 33% 40% 42% 29% 19% 23% 25% 36% 31% 35% 38% 37%
Other Income 0 0 0 1 11 5 3 3 58 63 86 35
Depreciation 0 1 2 3 64 54 56 63 68 75 164 171
Profit before tax 6 17 33 46 343 414 548 1,166 1,037 1,457 2,007 2,228
Tax % 35% 35% 34% 35% 34% 34% 35% 35% 35% 35% 26%
Net Profit 4 11 21 30 226 271 353 756 677 940 1,468 1,651
EPS in Rs 0.18 0.49 0.97 0.86 2.69 3.23 4.20 8.98 8.04 11.16 17.37 19.52
Dividend Payout % 20% 18% 10% 15% 67% 42% 54% 17% 25% 19% 16%
Compounded Sales Growth
10 Years:%
5 Years:22%
3 Years:17%
TTM:24%
Compounded Profit Growth
10 Years:%
5 Years:40%
3 Years:25%
TTM:20%
Stock Price CAGR
10 Years:11%
5 Years:41%
3 Years:16%
1 Year:-3%
Return on Equity
10 Years:%
5 Years:22%
3 Years:24%
Last Year:29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8 15 62 21 168 168 168 168 169 169 169 169
Reserves 11 14 32 144 2,324 2,465 2,590 3,193 3,645 4,375 5,545 6,282
Borrowings 66 93 174 451 7,795 8,632 9,638 10,986 12,607 15,297 22,265 25,235
28 29 75 48 551 352 443 804 609 605 972 575
Total Liabilities 110 147 293 660 10,838 11,616 12,839 15,152 17,030 20,446 28,951 32,261
5 11 16 28 202 206 230 222 310 367 803 843
CWIP 0 0 0 0 5 1 0 1 0 1 3 4
Investments 2 2 2 1 796 217 49 5 5 174 90 61
104 134 274 631 9,836 11,193 12,560 14,925 16,715 19,904 28,055 31,353
Total Assets 110 147 293 660 10,838 11,616 12,839 15,152 17,030 20,446 28,951 32,261

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-0 -26 -57 -235 2,924 -888 -1,042 -1,271 -33 -1,661 -3,625
-2 -6 -6 -10 2 649 72 -25 -148 -371 26
1 20 109 290 -2,923 265 772 1,211 293 2,388 6,052
Net Cash Flow -1 -12 46 46 4 26 -198 -84 112 356 2,453

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROE % 46% 35% 23% 11% 13% 25% 19% 22% 29%

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
34.64 34.64 35.14 35.14 35.14 35.12 35.12 35.05 35.05 35.04 35.00 35.00
0.00 37.83 38.18 39.44 44.18 44.74 43.27 44.37 39.50 38.45 39.09 39.53
44.35 7.25 6.75 5.72 3.89 4.61 5.93 5.67 8.43 9.77 8.68 9.15
21.01 20.28 19.93 19.70 16.79 15.53 15.68 14.91 17.02 16.74 17.23 16.32

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