Manappuram Finance rises on appointing Deepak Reddy as CEO

Manappuram Finance rose 1.14% to Rs 231.30 after the company announced that its board of directors has approved the appointment of Deepak Reddy as the chief executive officer (CEO) of the company, effective from 1 August 2025.

Reddy brings over 30 years of experience in the financial services industry. He has held leadership positions at leading institutions including Bajaj FinServ, where he served for 17 years, American Express Bank (approximately 9 years), Standard Chartered Bank (1.5 years) and MIRC Electronics (JVC Onida) for about 4.5 years. An alumnus of a B.Com program, Reddy also holds a Post Graduate Diploma in Management (PGDM).

The company clarified that Reddy is not related to any of the directors on the board and is not debarred from holding any directorial position by SEBI or any other regulatory authority.

Following this appointment, the designation of Nandakumar V.P. will change from Managing Director & CEO to Managing Director, effective 31 July 2025. He will continue in his role as the managing director, and the newly appointed CEO will report directly to him.

Founded in 1949, Manappuram Finance is a leading non-banking financial institution and the 2nd largest financier in the gold loan segment in India. It has grown to serve over 6.59 million customers through an extensive network of 5,357 branches and a workforce of 50,795 employees. It has expanded beyond gold loans into microfinance, vehicle finance, housing finance and SME lending, establishing itself as a diversified financial services provider.

On a consolidated basis, the company reported a net loss of Rs 191.17 crore in Q4 FY25 as against net profit of Rs 561.53 crore in Q4 FY24. Total income for the quarter remained largely unchanged at Rs 2,363.25 crore, marginally up from Rs 2,362.22 crore reported in Q4 FY24.

Powered by Capital Market - Live News