Overview

Detailed Summary

Manappuram Finance is an India-focused NBFC whose core business is retail lending against used household gold jewellery, complemented by microfinance, housing finance, vehicle and equipment finance, and MSME loans; it operates a pan-India branch network of over 5,000 outlets and serves roughly 2.6 million active customers through subsidiaries like Asirvad Microfinance and Manappuram Home Finance.
Q3 FY2026 consolidated AUM expanded to INR 52,125 crore driven by a sharp increase in gold loans to INR 38,754 crore, up 58% YoY and 23% QoQ; Online Gold Loan (OGL) adoption has accelerated and now represents about 92% of gold AUM, with rising average ticket sizes and materially higher AUM per branch indicating faster digital acceptance and deeper wallet penetration.
Profitability shows mixed signals: consolidated PAT rose to INR 239 crore in Q3 (up 9.8% QoQ) but nine‑month PAT of INR 588 crore is materially lower versus prior year INR 1,407 crore, reflecting compressed NII, higher provisions and lower PPOP; standalone profitability remains stronger than consolidated but return ratios (ROA, ROE) are down year‑on‑year across the group.
Substantial divergence within the group: Asirvad Microfinance is loss-making with Q3 PAT before OCI negative and AUM down over 50% YoY, while Vehicle & Equipment Finance shows stress with GNPA at 13.7% in Q3; these pockets are driving elevated provisions and require active remediation and capital allocation decisions from management.
Balance sheet and funding remain supportive: consolidated CRAR/Tier 1 is strong at c.24.6%, cash and equivalents around INR 4,671 crore, diversified borrowings across term loans, ECBs, NCDs and CP, and a declining consolidated cost of borrowing near 9.0%, which together provide liquidity headroom to fund growth while managing ALM.

Sector: Finance
Industry: Non Banking Financial Company (NBFC)
Market Cap: 33,929 Cr
Volatility: High Risk
P/E Ratio: 33.8
Industry P/E: 19.0
PEG Ratio: 0.9
P/B Ratio: 2.2
52W High: 361.60
52W Low: 244.95

Sales CAGR

1Y: -5.02%
3Y: 14.82%
5Y: 9.88%
10Y: 13.48%

Profit CAGR

1Y: -17.50%
3Y: 10.98%
5Y: 7.71%
10Y: 20.33%

ROE

TTM: 6.25%
3Y: 11.00%
5Y: 12.44%
10Y: 15.40%

ROCE

TTM: 6.84%
3Y: 9.85%
5Y: 10.28%
10Y: 12.11%

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Peers

Financial Services Financial Services Finance

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SUNDARMFIN		4411.30	49,051 Cr	23.82	3.29	0.91	13.82	8.78	2.34
AIIL		551.65	46,848 Cr	22.33	3.18	0.09	13.11	12.78	10.90
PIRAMALFIN		2037.00	46,365 Cr	27.43	1.65	0.54	0.93	6.00	1.53
POONAWALLA		472.00	41,014 Cr	52.12	3.19	0.00	5.24	5.93	1.31
MANAPPURAM		359.80	33,797 Cr	33.69	2.18	0.56	6.25	6.84	1.33
IIFL		569.80	24,347 Cr	11.58	1.75	0.70	11.93	9.70	2.53
CGCL		246.00	23,558 Cr	24.82	3.27	0.08	13.18	9.53	2.90
Median: 7 Co.	—	551.65	41,014 Cr	24.82	3.18	0.54	11.93	8.78	2.34

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	2,309	2,360	2,488	2,633	2,560	2,360	2,262	2,283	2,353	2,614
Expenses	729	772	846	892	1,191	1,638	1,233	1,028	1,034	877
Interest	749	779	848	906	925	895	855	876	945	1,109
Financing Profit	831	808	793	835	444	-173	174	380	374	627
Financing Margin %	36.00	34.25	31.89	31.72	17.33	-7.35	7.68	16.62	15.91	23.99
Other Income	18	2.45	24	4.04	2.91	3.52	2.55	1.90	5.75	12
Depreciation	62	65	64	67	70	66	75	79	77	75
Profit Before Tax	786	746	753	773	376	-236	102	302	303	564
Tax %	26.85	24.42	26.07	25.96	25.95	13.86	-30.49	28.04	21.23	28.20
Net Profit	575	563	557	572	278	-203	132	217	239	405
EPS in Rs	6.12	6.00	5.93	6.08	2.96	-2.16	1.41	2.32	2.54	4.76
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	3,385	3,421	4,180	5,465	6,331	6,061	6,700	8,848	10,007	9,509
Expenses	1,011	1,344	1,365	1,547	1,669	2,133	2,317	2,848	4,567	4,162
Interest	1,169	1,030	1,345	1,832	2,219	2,011	2,188	2,866	3,541	3,786
Financing Profit	1,205	1,047	1,469	2,086	2,443	1,916	2,195	3,134	1,899	1,561
Financing Margin %	35.60	30.60	35.16	38.16	38.59	31.62	32.76	35.42	18.98	16.42
Other Income	24	58	63	86	44	65	50	72	34	15
Depreciation	63	68	75	164	171	198	204	246	267	307
Profit Before Tax	1,166	1,037	1,457	2,007	2,316	1,784	2,041	2,960	1,666	1,270
Tax %	34.93	34.81	34.88	26.25	25.52	25.50	26.50	25.75	27.72	21.81
Net Profit	758	676	949	1,480	1,725	1,329	1,500	2,197	1,204	993
EPS in Rs	8.05	7.23	10.07	14.31	18.36	14.14	15.98	23.38	12.81	—
Dividend Payout %	16.70	24.94	19.30	15.86	9.80	19.11	16.93	12.71	28.13	17.08

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	168	169	169	169	169	169	169	169	169	188
Reserves	3,193	3,645	4,378	5,577	7,138	8,199	9,476	11,379	12,263	15,863
Borrowings	9,403	12,607	15,297	22,574	22,716	24,118	28,483	33,653	35,421	57,246
Other Liabilities	2,387	609	602	1,215	1,314	1,321	1,376	1,546	1,351	1,262
Total Liabilities	15,152	17,030	20,446	29,535	31,338	33,808	39,504	46,748	49,205	74,559
Fixed Assets	222	310	367	803	926	1,052	1,094	1,070	1,134	1,057
CWIP	0.63	0.15	0.89	3.46	7.51	13	17	33	11	27
Investments	0.00	4.93	174	90	338	421	534	726	788	2,051
Other Assets	14,930	16,715	19,905	28,639	30,066	32,322	37,860	44,918	47,272	71,424
Total Assets	15,152	17,030	20,446	29,535	31,338	33,808	39,504	46,748	49,205	74,559

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-1,271	-33	-1,661	-3,620	-619	-423	-3,103	-3,383	-467	-20,238
Cash from Investing Activity	-25	-148	-371	26	-186	-193	-616	-593	-125	-1,632
Cash from Financing Activity	1,211	293	2,388	6,049	59	438	3,849	4,025	1,132	23,834
Net Cash Flow	-84	112	356	2,455	-747	-177	130	49	541	1,965

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Apr 2026	Jun 2026
Promoters	35.20%	35.20%	35.24%	35.25%	35.25%	35.25%	35.25%	35.25%	35.25%	31.77%	41.66%	41.66%
FIIs	28.95%	31.99%	33.00%	30.36%	27.01%	28.42%	29.71%	30.16%	28.77%	23.21%	23.42%	22.30%
DIIs	12.15%	9.50%	9.34%	10.97%	7.88%	8.00%	8.62%	9.17%	11.14%	13.05%	12.96%	14.85%
Public	23.70%	23.31%	22.42%	23.42%	29.86%	28.33%	26.41%	25.42%	24.83%	31.98%	21.96%	21.19%
Total Shareholders	3,85,117	4,37,488	4,52,090	5,74,726	6,66,703	6,26,137	5,99,501	5,65,794	5,51,927	5,54,164	5,47,762	5,26,798

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Q4 FY26

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Q3 FY26

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Q2 FY26

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Q1 FY26

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Q4 FY25

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Q3 FY25

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Q3 FY25

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Q2 FY25

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Last 7 days

Sentiment

AGM/EGM Notice

6 days ago

Manappuram Finance: Newspaper ad for 34th AGM

Manappuram Finance published newspaper advertisements on 21-Jul-2026 announcing its 34th AGM to be held on 12-Aug-2026 at 11:00 AM IST at Latha Convention Centre, Valapad, Thrissur.

AGM/EGM Notice

6 days ago

Manappuram Finance Ltd: 34th AGM on Aug 12 2026

Manappuram Finance Ltd published a newspaper advertisement for its 34th Annual General Meeting to be held on 2026-08-12 at 11:00 AM IST at Latha Convention Centre, Valapad, Thrissur.

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Frequently Asked Questions about Manappuram Finance Ltd

Manappuram Finance Ltd (MANAPPURAM) is currently trading at 361.20 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Manappuram Finance is an India-focused NBFC whose core business is retail lending against used household gold jewellery, complemented by microfinance, housing finance, vehicle and equipment finance, and MSME loans; it operates a pan-India branch network of over 5,000 outlets and serves roughly 2.6 million active customers through subsidiaries like Asirvad Microfinance and Manappuram Home Finance. Q3 FY2026 consolidated AUM expanded to INR 52,125 crore driven by a sharp increase in gold loans to INR 38,754 crore, up 58% YoY and 23% QoQ; Online Gold Loan (OGL) adoption has accelerated and now represents about 92% of gold AUM, with rising average ticket sizes and materially higher AUM per branch indicating faster digital acceptance and deeper wallet penetration. Profitability shows mixed signals: consolidated PAT rose to INR 239 crore in Q3 (up 9.8% QoQ) but nine‑month PAT of INR 588 crore is materially lower versus prior year INR 1,407 crore, reflecting compressed NII, higher provisions and lower PPOP; standalone profitability remains stronger than consolidated but return ratios (ROA, ROE) are down year‑on‑year across the group. Substantial divergence within the group: Asirvad Microfinance is loss-making with Q3 PAT before OCI negative and AUM down over 50% YoY, while Vehicle & Equipment Finance shows stress with GNPA at 13.7% in Q3; these pockets are driving elevated provisions and require active remediation and capital allocation decisions from management. Balance sheet and funding remain supportive: consolidated CRAR/Tier 1 is strong at c.24.6%, cash and equivalents around INR 4,671 crore, diversified borrowings across term loans, ECBs, NCDs and CP, and a declining consolidated cost of borrowing near 9.0%, which together provide liquidity headroom to fund growth while managing ALM.

Over the past 52 weeks, Manappuram Finance Ltd has traded between a low of ₹244.95 and a high of ₹361.60. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Manappuram Finance Ltd has a market capitalization of approximately 33,797.31. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Manappuram Finance Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 33.69 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 33,797.31 Cr, Manappuram Finance Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Manappuram Finance Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Manappuram Finance Ltd is 33.69. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Manappuram Finance said its Chief Executive Officer, Deepak Reddy, tendered his resignation.

They fell as gold prices extended a sharp decline, raising concerns that lower collateral values could reduce loan disbursements and increase the risk of higher NPAs for gold loan financiers.

They fell as gold prices continued to decline, raising concerns about collateral values, loan-to-value risk, and the possibility of higher NPAs for gold-loan lenders.

The stock rose after the closure of Bain Capital’s open offer and the company’s disclosure that Bain’s entities acquired control and became promoters alongside existing promoters.

Manappuram Finance Ltd

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

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Manappuram Finance: Newspaper ad for 34th AGM

Manappuram Finance Ltd: 34th AGM on Aug 12 2026

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Frequently Asked Questions about Manappuram Finance Ltd

What is Manappuram Finance Ltd share price today?

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What is the 52-week high and low of Manappuram Finance Ltd?

What is the market capitalization of Manappuram Finance Ltd?

Should I consider investing in Manappuram Finance Ltd stock?

Is Manappuram Finance Ltd a large-cap, mid-cap, or small-cap stock?

Which sector does Manappuram Finance Ltd belong to and why does it matter?

What is the PE ratio of Manappuram Finance Ltd?

Who resigned as CEO of Manappuram Finance?

Why did gold loan stocks like Muthoot and Manappuram fall on June 10, 2026?

Why did Manappuram Finance and Muthoot Finance fall on June 10?

Why did Manappuram Finance shares rise sharply on Wednesday?

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Frequently Asked Questions about Manappuram Finance Ltd

What is Manappuram Finance Ltd share price today?

What does Manappuram Finance Ltd do?

What is the 52-week high and low of Manappuram Finance Ltd?

What is the market capitalization of Manappuram Finance Ltd?

Should I consider investing in Manappuram Finance Ltd stock?

Is Manappuram Finance Ltd a large-cap, mid-cap, or small-cap stock?

Which sector does Manappuram Finance Ltd belong to and why does it matter?

What is the PE ratio of Manappuram Finance Ltd?

Who resigned as CEO of Manappuram Finance?

Why did gold loan stocks like Muthoot and Manappuram fall on June 10, 2026?

Why did Manappuram Finance and Muthoot Finance fall on June 10?

Why did Manappuram Finance shares rise sharply on Wednesday?

Announcements

Manappuram Finance: Newspaper ad for 34th AGM

Manappuram Finance Ltd: 34th AGM on Aug 12 2026

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