Manappuram Finance shares rise 3% after posting Q1 results; Details

Manappuram Finance shares rose 2.6 per cent on Monday and logged an intra-day high at ₹265.3 per share on BSE, after the company posted Q1 results

Manappuram Finance shares rose 2.6 per cent on Monday, August 11, 2025, and logged an intra-day high at ₹265.3 per share on BSE. The buying interest on the counter came after the company posted Q1 results on Friday, after market hours.

 

At 10:57 AM, Manappuram Finance share price was up 2.3 per cent at ₹264.5 per share on BSE. In comparison, the Sensex was 0.41 per cent higher at 80,186.72.  

 

Manappuram Finance Q1 results 

In Q1,  Manappuram Finance reported a consolidated profit after tax (PAT) of ₹138.38 crore, as compared to ₹554.62 crore year-on-year (Y-o-Y), down 75 per cent. The company’s consolidated revenue from operations in the first quarter stood at ₹2,262.39 crore, as against ₹2,488 crore in the year-ago period, down 9 per cent.

 

 

However, its gold asset under management (AUM) grew 13 per cent quarter-on-quarter (Q-o-Q) and 22 per cent year-on-year (Y-o-Y) to ₹28,800 crore. Within gold loans, loan-to-value (LTV) was stable Q-o-Q at 57 per cent. The gold loan customer base was broadly stable at 2.6 million.

 

Manappuram Finance management commentary:

• The company is in talks with banks to explore co-lending partnerships, with a focus on the gold loan segment.
• The company intends to leverage its gold loan branches under Asirvad to enable these collaborations, and may gradually introduce gold loans in select Asirvad MFI branches to further broaden its product reach.
• Asirvad has resumed MFI disbursements with stricter underwriting norms, prioritising lending in centers with stronger collection performance.
• Deal with BAIN Capital announced earlier this year is progressing as planned, with the CCI approval already in place. The company is currently awaiting RBI approval, which is expected by next month.
• Management anticipates gold loan growth in FY26 to exceed FY25 levels. We project a 26 per cent increase in gold loan disbursements for FY26. The company shared that small-ticket gold loans.

What to do with Manappuram Finance shares?

Motilal Oswal has reiterated its ‘Neutral’ rating on the stock with a target of ₹280 per share. The brokerage has cut its FY26/FY27 profit after tax (PAT) estimates by 15 per cent/18 per cent to factor in lower loan growth in non-gold segments and low spreads/net intereat margin (NIM). Over FY25-27, analysts estimate a compound annual growth rate (CAGR) of 23 per cent/15 per cent in gold/consolidated AUM and 29 per cent in consolidated PAT.