Manappuram Finance Ltd

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NSEBSE

181.051.10 (0.61%)

12:00 AM,2nd Mar 2024

181.001.10 (0.61%)

12:00 AM,2nd Mar 2024

BSE : 531213

NSE : MANAPPURAM

Sector : Financials

ISIN Code : INE522D01027

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Last Updated: Mar 02 2024 | 12:00 AM IST

Market Cap (₹ Cr)

15324

Turnover (₹ Cr)

1.23

Volume (Shares)

681827

Face Value

2

52-WK High

192.50

52-WK High Date

08 Feb 2024

52-WK Low

102.00

52-WK Low Date

05 May 2023

All Time High

224.50

All Time High Date

10 Nov 2021

All Time Low

9.80

All Time Low Date

16 Jul 2013

Manappuram Finance Ltd

Manappuram Finance Limited (MAFIL) (Formerly known as Manappuram General Finance and Leasing Limited) is one of the largest NBFCs in India predominantly dealing in gold loans. The Company offers a range of retail credit products and financial services. It has a diversified lending portfolio encompassing retail microfinance SME and commercial customers. It has been the second-largest gold finance NBFC in India. The Company makes credit against the security of used household gold jewellery.The Company has a strong pan-India presence through its 5000 strong branch network spread across 28 states and 4 union territories serving a customer base of more than 5.09 million. In addition to gold finance it is focusing on affordable housing finance vehicle and equipment finance which includes commercial vehicle loans two-wheeler loans tractor & car loans microfinance SME finance project and industrial finance corporate finance and insurance broking. The company operates its housing finance business under its subsidiary Manappuram Home Finance Limited (MAHOFIN). Manappuram Finance Limited was incorporated on July 15 1992. During the year 1994-95 the company opened new branches in Calicut Guruvayur Ernakulam and Thriprayar. In the year 2002 they started Forex business as a part of its diversification. During the year 2002-03 the company opened 8 new branches in various places. During the year 2003-04 the company entered into various diversified activities as acting as corporate agents for life and general insurance vehicle finance acting as full-fledged money changers online share trading instant money transfer etc through and with their 100% subsidiary. Also they commenced instant money transfer facility in collaboration with Xpress Money Coinstar Instant Cash Zoha Ezremit and MoneyGram.During the year 2004-05 the company acquired 100% equity shares in Manappuram Insurance Agents and Brokers Ltd. Also they widened their activities further by opening 14 new branches in various places. During the year 2006-07 the company was granted the prestigious Authorized Dealer Category II license by the Reserve Bank which will enable the company to undertake a wide range of non trade remittances apart from currency exchange transactions. In November 2006 the company's 100% subsidiary Manappuram Insurance Brokers Pvt Ltd received the insurance Broking Licence from the Insurance Regulatory and Development Authority (IRDA). During the year 2008-09 the company strengthened their IT infrastructure and systems to support their operations. The connectivity to branches was also upgraded so as to provide improved information flow to branches and to further support the collection system. The company acquired the entire assets and liabilities of Manappuram Printers a sole proprietorship which is in the business of trading in stationery items for a total consideration of Rs 10 million. In November 4 2008 the company sold their entire investment in their subsidiary Manappuram Insurance Brokers Pvt Ltd to one of the directors' of the company for an amount of Rs 5.86 million.During the year 2009-10 as per the scheme of amalgamation Manappuram Finance Tamilnadu Ltd was amalgamated with the company. Also they opened their 1001st branch in Thrissur.During 2011 the company adopted a new name of Manappuram Finance Ltd in place of earlier name Manappuram General Finance and Leasing Ltd. The company also came with a Bonus issue in the Ratio of 1:1 In 2012 Manappuram Finance's assets under management (AUM) crossed Rs 10000 crore mark. The company's branch network reached 2908 with more than 850 branches added in FY 2012.In 2014 Manappuram Finance pioneered the introduction of shorter tenure loan products (3 to 9 months) with lower LTV for longer tenure loans. During the year Manappuram Finance acquired full ownership of Milestone Home Finance Limited from Japyee Hotels Limited and renamed it as Manappuram Home Finance Private Limited. During the year equity shares of Manappuram Finance were listed on the National Stock Exchange. The Board of Directors of Manappuram Finance at its meeting held on 23 September 2014 considered and approved the commencement of business of Micro Financing either as a separate division of the company or by acquiring existing companies in micro financing activity. The Board also approved commencement of Commercial Vehicles financing business and depository participant business. The Board of Directors of Manappuram Finance at its meeting held on 23 December 2014 approved the acquisition of 70% stake in Asirvad Micro Finance Pvt. Ltd. Chennai subject to approvals from Reserve Bank of India and to execute necessary agreements to conclude the transaction. The company intends to increase its stake up to 85% by infusion of additional capital. The total capital commitment will be close to Rs 136 crore.In February 2015 the company acquired Chennai based Asirvad Microfinance Pvt. Ltd. having assets under management (AUM) of a little short of Rs 300 crore. Asirvad is an NBFC operating as a micro finance institution (NBFCMFI). The company is carrying on the business of micro finance with about 115 branches spread across Tamil Nadu Kerala and Karnataka. The Board of Directors of Manappuram Finance Ltd at its meeting held on 14 August 2015 approved the acquisition of Manappuram Insurance Brokers Pvt Ltd for the consideration of Rs 1.55 crore subject to the approval of RBI and IRDAI.On 2 January 2016 Manappuram Finance Ltd informed the stock exchanges that the company has acquired 100% equity shares of Manappuram Insurance Brokers Pvt. Ltd (MIBPL) by way of transfer of shares from existing shareholders of MIBPL for the total consideration amount of Rs 1.55 crore. MIBPL is acting as brokers for insurance companies in India doing life insurance and general insurance and having valid license issued by IRDAI and is also a member of Insurance Brokers Association of India Hyderabad. MIBPL clocked turnover of Rs 1.02 crore in FY 2014-15. The Board of Directors of Manappuram Finance at its meeting held on 2 November 2017 approved equity infusion of up to Rs 50 crore in its subsidiary Asirvad Microfinance Limited. The Company commenced SME business in November 2017 to serve the under served segment and help them grow their businesses.In Jul' 18 Manappuram Finance through the securities purchase agreement acquired 85.39% of the share capital of Indian School Finance Company Private Limited (ISFC).In 2019 the Company acquired a new subsidiary company Manappuram Comptech and Consultants Limited [MACOM]. Company holds 93.33% equity shares of Asirvad Microfinance Limited 100% equity shares of Manappuram Home Finance Limited 100% equity shares of Manappuram Insurance Brokers Limited and 81.07% of Manappuram Comptech and Consultants Limited as on 31 March 2019. A new loan product called Gold Loan was launched in Odisha and West Bengal on March 10 2021.The Company's consolidated AUM grew by 17.20% to Rs 354523 million during the year 2023 owing to rapid growth in the microfinance(39.70%) housing finance (29.60%) and vehicle finance (49.40%) AUMs. As on Mar'31 2023 the Company's Gold Loan Branches stood at 3524. The Company holds 97.60% equity shares of M/s. Asirvad Microfinance Limited 100% equity shares of M/s. Manappuram Home Finance Limited 100% equity shares of M/s. Manappuram Insurance Brokers Limited and 99.81% of Manappuram Comptech and Consultants Limited as on March 31 2023.The Company has a strong Pan-India presence through its strong network of 5232 branches across 28 states and 4 union territories and serves more than 5.09 million active customers during 2022-23.

Manappuram Finance Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

15324

EPS - TTM (₹) [S]

18.18

P/E Ratio (X) [S]

1.59

Face Value (₹) 2
Latest Dividend (%)45.00
Latest Dividend Date 16 Feb 2024
Dividend Yield (%) 1.66
Book Value Share (₹) [S]114.01
P/B Ratio (₹) [S]1.59
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Bank of India Credit Risk Fund - Regular 9.99 1000000 7.13
Bank of India Credit Risk Fund - Direct 9.99 1000000 7.13
Invesco India Credit Risk Fund - Direct (Disc) 9.99 1000000 7.23
Invesco India Credit Risk Fund (G) 9.99 1000000 7.23
Invesco India Credit Risk Fund (IDCW-M) 9.99 1000000 7.23
Invesco India Credit Risk Fund (Discretionary) 9.99 1000000 7.23
Invesco India Credit Risk Fund - Direct (G) 9.99 1000000 7.23
Invesco India Credit Risk Fund - Direct (IDCW-M) 9.99 1000000 7.23
ICICI Pru Floating Interest Fund-Direct (IDCW-W) 49.89 5000 0.49
ICICI Pru Floating Interest Fund-Direct(IDCW-Othr) 49.96 5000 0.49

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Research Reports

Date BrokerActionPrices(Rs)Report
16-05-2023Prabhudas Lilladher Buy 110
17-11-2022Prabhudas Lilladher Buy 117

Stock Strength

Today's Low/High

180.25

182.00

Week Low/High

170.65

186.00

Month Low/High

170.05

193.00

Year Low/High

102.00

193.00

All time Low/High

0.15

225.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-1.23%-1.23%0.910.75%
1 Month-2.58%-2.64%2.392.40%
3 Month11.24%11.28%9.3710.41%
6 Month19.31%19.27%12.8815.14%
1 Year73.84%73.84%25.2929.19%
3 Year4.47%4.50%46.7450.00%

Company Info

Company Information

Managing Director & CEO : V P Nandakumar

Non-Exec. & Independent Dir. : V R Ramachandran

Non-Exec. & Independent Dir. : P Manomohanan

Company Sec. & Compli. Officer : Manoj Kumar V R

Non-Exec. & Independent Dir. : Abhijit Sen

Director : Harshan Kollara

Chairman (Non-Executive) : Shailesh J Mehta

Director : Sekaripuram Ramanath Balasubramanian

Independent Director : Pratima Ram

Independent Director : V P Seemandini

Whole-time Director : Sumitha Jayasankar

Registered Office: IV/470A (Old) W/638 (New), Manappuram House Valpad P O,Thrissur,Kerala-680567 Ph: 91-487-3050108/3050000/3050100

Email:cosecretary@manappuram.com

URL:http://www.manappuram.com