Manappuram Finance Limited (IN:MANAPPURAM)
:MANAPPURAM
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Manappuram Finance Limited
(MANAPPURAM)
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Rating:54Neutral
Price Target:
₹313.00
▲(1.18% Upside)
Action:Reiterated
Date:05/06/26
The score is held back primarily by financial risk factors—high and rising leverage, reduced profitability/returns, and historically volatile cash flows—partly offset by strong recent technical momentum (price above major moving averages with positive MACD). Valuation is a secondary headwind given the higher P/E and low dividend yield.
Positive Factors
Secured gold‑loan model
Manappuram’s core gold‑loan franchise is structurally advantaged: overcollateralized, short‑tenor loans with frequent renewals and fee income reduce unsecured credit exposure. This model supports repeat customers, high throughput per branch and durable interest + fee revenue over quarters.
Negative Factors
High leverage
Debt/equity near 3.6x leaves the balance sheet highly leveraged for an NBFC. Elevated leverage increases sensitivity to funding cost shifts, raises refinancing risk, and constrains capital flexibility, limiting the firm’s ability to expand prudently or absorb prolonged credit stress over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Secured gold‑loan model
Manappuram’s core gold‑loan franchise is structurally advantaged: overcollateralized, short‑tenor loans with frequent renewals and fee income reduce unsecured credit exposure. This model supports repeat customers, high throughput per branch and durable interest + fee revenue over quarters.
Read all positive factors
Manappuram Finance Limited (MANAPPURAM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹258.84B
Dividend Yield0.8%
Average Volume (3M)124.77K
Price to Earnings (P/E)21.4
Beta (1Y)1.06
Revenue Growth-5.36%
EPS Growth-17.52%
CountryIN
Employees51,004
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)5.29
Shares Outstanding846,434,750
10 Day Avg. Volume165,223
30 Day Avg. Volume124,768
Financial Highlights & Ratios
PEG Ratio-1.16
Price to Book (P/B)1.34
Price to Sales (P/S)2.26
P/FCF Ratio6.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹360.00Price Target Upside16.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)23.51
Revenue Forecast (FY)₹71.99B
Manappuram Finance Limited Business Overview & Revenue Model
Company Description
Manappuram Finance Limited, a gold loan non-banking financial company, provides retail credit products and financial services in India. It offers loans against the security of used household gold jewelry; gold loans and online gold loans; microfin...
How the Company Makes Money
Manappuram Finance makes money primarily by lending money and earning a spread between the interest it charges borrowers and its own cost of funds. Its key revenue stream is interest income from gold loans, where customers pledge gold ornaments as...
Manappuram Finance Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
46
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 93.07B | 95.25B | 98.93B | 88.04B | 66.46B | 60.49B |
| Gross Profit | 56.90B | 50.47B | 63.52B | 59.38B | 44.58B | 40.38B |
| EBITDA | 12.04B | 15.77B | 19.33B | 32.06B | 22.45B | 19.82B |
| Net Income | 4.49B | 10.03B | 12.16B | 21.89B | 14.96B | 13.28B |
Balance Sheet | ||||||
| Total Assets | 516.57B | 745.59B | 492.05B | 467.48B | 395.04B | 338.11B |
| Cash, Cash Equivalents and Short-Term Investments | 25.09B | 61.49B | 35.74B | 28.30B | 30.35B | 25.85B |
| Total Debt | 383.66B | 578.37B | 360.79B | 343.20B | 291.67B | 248.20B |
| Total Liabilities | 389.37B | 585.02B | 367.56B | 351.71B | 298.39B | 254.26B |
| Stockholders Equity | 127.12B | 160.51B | 124.32B | 115.48B | 96.45B | 83.68B |
Cash Flow | ||||||
| Free Cash Flow | -25.70B | 32.16B | -6.62B | -35.19B | -32.76B | -5.86B |
| Operating Cash Flow | -24.87B | 34.17B | -4.67B | -33.83B | -31.03B | -4.23B |
| Investing Cash Flow | -4.00B | -253.33B | -1.25B | -5.93B | -6.16B | -1.93B |
| Financing Cash Flow | 17.15B | 238.81B | 11.32B | 40.25B | 38.49B | 4.38B |
Manappuram Finance Limited Technical Analysis
Positive
309.35
Price Trends
276.85
Positive
288.68
Positive
282.34
Positive
Market Momentum
9.35
Negative
63.59
Neutral
68.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAPPURAM, the sentiment is Positive. The current price of 309.35 is above the 20-day moving average (MA) of 301.30, above the 50-day MA of 276.85, and above the 200-day MA of 282.34, indicating a bullish trend. The MACD of 9.35 indicates Negative momentum. The RSI at 63.59 is Neutral, neither overbought nor oversold. The STOCH value of 68.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MANAPPURAM.
Manappuram Finance Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹207.97B | 23.81 | ― | 0.77% | 5.00% | 45.78% | |
65 Neutral | ₹1.32T | 11.98 | ― | 0.68% | 54.24% | 99.72% | |
60 Neutral | ₹1.30T | 17.52 | ― | 0.12% | 20.59% | 22.13% | |
59 Neutral | ₹30.35B | 24.60 | ― | ― | -3.48% | ― | |
57 Neutral | ₹365.20B | 29.24 | ― | ― | 62.58% | ― | |
54 Neutral | ₹258.84B | 21.42 | ― | 0.80% | -5.36% | -17.52% |
* Financial Sector Average
IN:MANAPPURAM
Manappuram Finance Limited
315.50
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39.33%
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IN:MUTHOOTMF
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IN:POONAWALLA
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2.98%
Manappuram Finance Limited Corporate Events
Manappuram Finance Publishes FY26 Audited Results in Leading Dailies
May 5, 2026
Manappuram Finance Limited has announced that its audited standalone and consolidated financial results for the fourth quarter and full year ended March 31, 2026, have been published in leading newspapers. The results appeared in the English-langu...
No Shares Tendered in Manappuram Finance Open Offer Escrow Account
Apr 7, 2026
Kotak Mahindra Capital Company, acting as manager to an open offer for Manappuram Finance, disclosed that no equity shares were tendered into the designated open offer escrow demat account as of the evening of April 7, 2026. The absence of tenders...
Manappuram Finance Closes Trading Window Ahead of FY 2025-26 Results
Mar 24, 2026
Manappuram Finance Limited has announced that its trading window for dealing in the company’s securities will be closed from April 1, 2026, until 48 hours after it discloses its financial results for the year ending March 31, 2026. The measu...
RBI Fines Manappuram Finance for Breach of Variable Pay Rules
Mar 14, 2026
Manappuram Finance Limited has disclosed that the Reserve Bank of India has imposed a monetary penalty of Rs 2.70 lakh on the company for non-compliance with guidelines on the deferral of variable pay for two key managerial personnel for FY 2024-2...
Manappuram Finance CEO Deepak Reddy Takes Overseas Medical Leave
Feb 25, 2026
Manappuram Finance has disclosed that its Chief Executive Officer and key managerial personnel, Deepak Reddy, has taken a medical leave of absence effective February 25, 2026, to travel overseas for treatment for an expected period of 90 to 120 da...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.