Manba Finance Ltd

MANBA

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Market Cap

₹ 690 Cr

P/E

16.38

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Manba Finance Limited is a Non-Banking Finance Company offering financial solutions including loans for two-wheelers, three-wheelers, electric vehicles, and personal loans. It operates across six states with a vast network of 1,250 dealers.

The company has achieved substantial growth with a 36% year-on-year increase in its Asset Under Management (AUM) and a significant expansion into new geographic regions including Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.

Manba Finance maintains a strong capital position with a capital adequacy ratio of 26.54%, and has lowered its borrowing costs due to improved lender relationships and the RBI rate cut.

The company is actively investing in digital initiatives such as Instant Disbursement via Juspay and Straight Through Processing (STP) for used two-wheeler loans, enhancing operational efficiency and customer experience.

Strategic partnerships and a focus on EV financing highlight the company's growth strategy and adaptability to market trends, positioning it well for future expansion.

Sector

Finance

Industry

NBFC-Others

Market Cap

690 Cr

Volatility

Moderate Risk

P/E Ratio

16.4

Industry P/E

34.5

PEG Ratio

0.3

P/B Ratio

1.8

52W High

187.40

52W Low

115.15

Sales CAGR

30.72%

33.72%

16.26%

10Y

—

Profit CAGR

21.23%

58.86%

15.75%

10Y

—

ROE

TTM

10.84%

11.43%

9.95%

10Y

—

ROCE

TTM

9.65%

11.16%

11.22%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DHUNINV	1138.05	694 Cr	41.75	0.26	0.26	0.63	2.78	0.53
CONSOFINVT	168.48	692 Cr	1.61	0.44	0.00	27.01	28.62	27.58
MANBA	137.30	690 Cr	16.38	1.78	0.55	10.84	9.65	2.23
NBIFIN	2281.80	674 Cr	67.21	0.21	0.02	0.31	0.40	0.29
CSLFINANCE	294.60	674 Cr	8.27	1.16	1.00	14.04	12.91	5.86
NIYOGIN	58.01	645 Cr	—	2.00	0.00	-1.99	1.70	-0.55
UCIL	645.00	571 Cr	10.50	4.82	0.08	45.93	34.88	18.07

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	35	52	48	55	49	65	69	68	67	78
Expenses	13	16	19	19	18	21	23	27	23	26
Interest	18	18	22	24	23	27	28	29	32	35
Financing Profit	4.30	18	7.44	12	7.63	17	18	12	11	16
Financing Margin %	12.23	34.64	15.48	22.27	15.57	26.33	25.56	18.28	16.90	21.23
Other Income	0.99	0.00	0.00	0.05	0.01	0.02	0.00	0.00	2.02	-0.06
Depreciation	1.13	1.13	1.13	1.10	1.11	1.12	1.14	1.23	1.16	1.18
Profit Before Tax	4.15	17	6.31	11	6.53	16	16	11	12	15
Tax %	35.42	18.06	23.45	12.98	20.83	26.82	21.26	28.33	19.95	25.20
Net Profit	2.68	14	4.83	9.79	5.18	12	13	8.02	9.75	11
EPS in Rs	—	—	—	1.95	—	2.32	2.58	1.60	1.94	2.27
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

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	87	118	104	105	133	192	250	268
Expenses	33	42	39	45	52	67	88	93
Interest	35	50	51	47	57	82	108	117
Financing Profit	20	25	14	13	25	43	54	58
Financing Margin %	22.82	21.36	13.66	12.84	18.70	22.49	21.77	21.74
Other Income	2.86	0.68	1.42	2.38	0.53	0.05	0.22	NaN
Depreciation	1.87	1.94	3.63	3.79	4.45	4.49	4.59	4.65
Profit Before Tax	21	24	12	12	21	39	50	56
Tax %	317.14	418.52	403.05	463.62	362.12	517.18	407.36	24.00
Net Profit	14	18	9.07	9.43	15	31	38	42
EPS in Rs	—	—	—	7.50	12.28	18.99	—	8.39
Dividend Payout %	—	—	—	—	—	—	—	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9.44	13	13	13	13	38	50
Reserves	94	123	130	140	154	163	319
Borrowings	372	394	376	394	596	752	1,075
Other Liabilities	31	11	9.23	17	26	21	22
Total Liabilities	506	541	528	564	789	974	1,466
Fixed Assets	15	14	16	13	22	20	18
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.05	0.08	18	27	38
Other Assets	491	527	512	551	749	927	1,410
Total Assets	506	541	528	564	789	974	1,466

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-114	6.58	73	18	-124	-141	-324
Cash from Investing Activity	2.65	-0.64	-1.19	-0.71	-19	1.10	-15
Cash from Financing Activity	123	-13	-69	19	202	156	453
Net Cash Flow	11	-7.23	2.95	36	59	16	115

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	100.00%	74.98%	74.98%	74.98%	74.98%	74.98%
FIIs	0.00%	5.16%	2.35%	0.92%	0.87%	0.88%
DIIs	0.00%	3.26%	0.42%	0.00%	0.00%	0.00%
Public	0.00%	16.60%	22.25%	24.10%	24.15%	24.14%
Total Shareholders	9	36,351	24,807	23,661	22,312	21,184

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 06, 2024	Hrti private limited	Bulk	Sell	189.09	4.64 Cr	2,45,173	0.48
Dec 06, 2024	Hrti private limited	Bulk	Buy	188.92	5.37 Cr	2,84,505	0.56
Dec 05, 2024	Qe securities llp	Bulk	Sell	177.90	6.79 Cr	3,81,881	0.76
Dec 05, 2024	Hrti private limited	Bulk	Sell	178.66	7.46 Cr	4,17,279	0.83
Dec 05, 2024	Hrti private limited	Bulk	Buy	178.74	7.26 Cr	4,06,126	0.80
Dec 05, 2024	Qe securities llp	Bulk	Buy	177.90	6.45 Cr	3,62,346	0.72
Dec 03, 2024	Qe securities llp	Bulk	Sell	165.38	4.40 Cr	2,66,049	0.52
Dec 03, 2024	Qe securities llp	Bulk	Buy	165.15	4.11 Cr	2,48,645	0.49

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

3 days ago

Investor/Analyst Meeting Scheduled

The company has announced an Investor/Analyst meeting on 17th December 2025 as part of the Auto Ancillaries Conference.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DHUNINV	1138.05	694 Cr	41.75	0.26	0.26	0.63	2.78	0.53
CONSOFINVT	168.48	692 Cr	1.61	0.44	0.00	27.01	28.62	27.58
MANBA	137.30	690 Cr	16.38	1.78	0.55	10.84	9.65	2.23
NBIFIN	2281.80	674 Cr	67.21	0.21	0.02	0.31	0.40	0.29
CSLFINANCE	294.60	674 Cr	8.27	1.16	1.00	14.04	12.91	5.86
NIYOGIN	58.01	645 Cr	—	2.00	0.00	-1.99	1.70	-0.55
UCIL	645.00	571 Cr	10.50	4.82	0.08	45.93	34.88	18.07

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Manba Finance maintains a strong capital position with a capital adequacy ratio of 26.54%, and has lowered its borrowing costs due to improved lender relationships and the RBI rate cut.

Strategic partnerships and a focus on EV financing highlight the company's growth strategy and adaptability to market trends, positioning it well for future expansion.

Sector

Finance

Industry

NBFC-Others

Market Cap

690 Cr

Volatility

Moderate Risk

P/E Ratio

16.4

Industry P/E

34.5

PEG Ratio

0.3

P/B Ratio

1.8

52W High

187.40

52W Low

115.15

Sales CAGR

30.72%

33.72%

16.26%

10Y

—

Profit CAGR

21.23%

58.86%

15.75%

10Y

—

ROE

TTM

10.84%

11.43%

9.95%

10Y

—

ROCE

TTM

9.65%

11.16%

11.22%

10Y

—