Manappuram Finance Limited
Incorporated in July 1992 and promoted by Mr. V P Nandakumar, MAFIL is the flagship company of the Manappuram group. It is a non-deposit-taking NBFC that provides finance against personal gold ornaments. It had ~5,000 branches across India as on Dece...
Key Metrics
EPS
25.86
Current ratio
2.23
Debt/Equity
3.04
Debt/EBITDA
10.97
Interest coverage ratio
0.00
Operating Cashflow to total debt
-0.10
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Established market position in the gold finance business
Sound capitalisation
Profitability continues to remain strong
Stable funding profile
Liquidity: Strong
Cons
High, though, operating cost in the gold and microfinance businesses
Geographical concentration in operations and the associated risks
Potential challenges associated with non-gold loan segments
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About Manappuram Finance Limited bond.
This comprehensive profile covers key factual information about Manappuram Finance Limited. Incorporated in July 1992 and promoted by Mr. V P Nandakumar, MAFIL is the flagship company of the Manappuram group. It is a non-deposit-taking NBFC that provides finance against personal gold ornaments. It had ~5,000 branches across India as on December 31, 2022. The company went public in August 1995, with shares listed on the stock exchanges of Chennai, Kochi and Mumbai (Bombay Stock Exchange and National Stock Exchange). Over the past three years, the Manappuram group has diversified into other businesses such as microfinance, vehicle finance, loans against property and affordable housing finance. It also entered the insurance broking business. The overall AUM of Rs 38,951 crore as on September 30, 2023, includes gold loan (68%), microfinance (26%), commercial vehicle finance (7%), housing (3%) and lending to other NBFCs (7%). The gold loan portfolio is diversified across 28 states and Union Territories, while the microfinance, commercial vehicle and housing finance portfolios are diversified across 24, 22 and 9 states, respectively. For fiscal 2023, consolidated profit after tax (PAT) was Rs 1,500 crore on total income of Rs 6,749 crore, against Rs 1,328 crore and Rs 6,126 crore, respectively, for fiscal 2022. During H1 2024, consolidated profit after tax stood at Rs 1,059 crore. EPS in Mar-2024 was 25.86. Current ratio in Mar-2024 was 2.23. Debt/Equity in Mar-2024 was 3.04. Debt/EBITDA in Mar-2024 was 10.97. Interest coverage ratio in Mar-2024 was 0.00. Operating Cashflow to total debt in Mar-2024 was -0.10. Total revenue for Mar-2025(E) was ₹8879.38. Net income for Mar-2025(E) stood at ₹2005.42. Total assets as of Mar-2024 were ₹46,747.91. Operating cash flow for Mar-2024 was ₹-3,382.68. The company’s borrowing relationships include State Bank of India (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), Not Applicable (₹N/A Cr), State Bank of India (₹N/A Cr), State Bank of India (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), Bank of Maharashtra (₹N/A Cr), Sumitomo Mitsui Banking Corporation (₹N/A Cr), YES Bank Limited (₹N/A Cr), Bajaj Finance Limited (₹N/A Cr), Shinhan Bank (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), Citibank N. A. (₹N/A Cr), YES Bank Limited (₹N/A Cr), DBS Bank India Limited (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), IndusInd Bank Limited (₹N/A Cr). Peers and comparison entities consist of Manappuram Finance Limited, Bajaj Finance Limited, Jio Financial Services Limited, Shriram Finance Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Established market position in the gold finance business; Sound capitalisation ; Profitability continues to remain strong; Stable funding profile; Liquidity: Strong. Key risks include: High, though, operating cost in the gold and microfinance businesses; Geographical concentration in operations and the associated risks; Potential challenges associated with non-gold loan segments. Leadership team details include A L Bindhu (Chief Financial Officer), Abhijit Sen (Independent Non-Executive Director), E K Bharat Bhushan (Independent Non-Executive Director), Harshan Kollara (Independent Non-Executive Director), P Manomohanan (Independent Non-Executive Director), Pratima Ram (Independent Non-Executive Director), Sankaran Nair Rajagopal (Independent Non-Executive Director), Shailesh Jayantilal Mehta (Chairman(Non Executive & Independent Director)), Sumitha Nandan (Executive Director), T C Suseel Kumar (Independent Non-Executive Director), V P Nandakumar (Managing Director & CEO), V P Seemanthini (Independent Non-Executive Director), V R Manoj Kumar (Company Secretary & Compliance Officer), V R Ramachandran (Independent Non-Executive Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.