Manappuram Finance Limited (IN:MANAPPURAM)
:MANAPPURAM
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Manappuram Finance Limited
(MANAPPURAM)
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Rating:49Neutral
Price Target:
₹254.00
▼(-17.89% Downside)
Action:ReiteratedDate:01/10/26
The score is primarily held back by weakening financial quality (declining profitability, high leverage, and negative operating/free cash flow). Technicals are also soft with the stock trading below key short-term averages and a low RSI, while valuation further pressures the rating due to a high P/E and modest dividend yield.
Positive Factors
Secured gold-loan model
Manappuram's core business of gold‑backed lending relies on tangible collateral and short tenors, which structurally lowers loss severity and supports faster portfolio turnarounds. This model sustains recurring interest income and reduces unsecured credit risk, providing durable cashflow stability over months.
Negative Factors
Declining revenue & margins
Negative revenue growth and a sharp fall in net profit margin point to weakening demand or margin compression in core lending lines. Over a multi-month horizon this reduces internal capital generation, squeezes return on equity, and limits the firm's ability to rebuild buffers or fund growth without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Secured gold-loan model
Manappuram's core business of gold‑backed lending relies on tangible collateral and short tenors, which structurally lowers loss severity and supports faster portfolio turnarounds. This model sustains recurring interest income and reduces unsecured credit risk, providing durable cashflow stability over months.
Read all positive factors
Manappuram Finance Limited (MANAPPURAM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹228.11B
Dividend Yield0.8%
Average Volume (3M)124.77K
Price to Earnings (P/E)27.1
Beta (1Y)1.22
Revenue Growth-3.68%
EPS Growth-80.12%
CountryIN
Employees51,004
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)2.80
Shares Outstanding846,434,750
10 Day Avg. Volume165,223
30 Day Avg. Volume124,768
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)1.60
Price to Sales (P/S)2.01
P/FCF Ratio-29.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)23.66
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
65
Positive
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 93.07B | 98.93B | 88.04B | 66.46B | 60.49B | 63.37B |
| Gross Profit | 56.90B | 63.52B | 59.38B | 44.58B | 40.38B | 41.18B |
| EBITDA | 12.04B | 19.33B | 32.06B | 22.45B | 19.82B | 24.87B |
| Net Income | 4.49B | 12.16B | 21.89B | 14.96B | 13.28B | 17.24B |
Balance Sheet | ||||||
| Total Assets | 516.57B | 492.05B | 467.48B | 395.04B | 338.11B | 313.38B |
| Cash, Cash Equivalents and Short-Term Investments | 25.09B | 35.74B | 28.30B | 30.35B | 25.85B | 27.70B |
| Total Debt | 383.66B | 360.79B | 343.20B | 291.67B | 248.20B | 233.19B |
| Total Liabilities | 389.37B | 367.56B | 351.71B | 298.39B | 254.26B | 239.83B |
| Stockholders Equity | 127.12B | 124.32B | 115.48B | 96.45B | 83.68B | 73.07B |
Cash Flow | ||||||
| Free Cash Flow | -25.70B | -6.62B | -35.19B | -32.76B | -5.86B | -6.73B |
| Operating Cash Flow | -24.87B | -4.67B | -33.83B | -31.03B | -4.23B | -6.19B |
| Investing Cash Flow | -4.00B | -1.25B | -5.93B | -6.16B | -1.93B | -1.86B |
| Financing Cash Flow | 17.15B | 11.32B | 40.25B | 38.49B | 4.38B | 585.15M |
Manappuram Finance Limited Technical Analysis
Neutral
309.35
Price Trends
279.97
Negative
285.51
Negative
279.55
Negative
Market Momentum
-5.73
Negative
52.65
Neutral
67.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANAPPURAM, the sentiment is Neutral. The current price of 309.35 is above the 20-day moving average (MA) of 257.86, above the 50-day MA of 279.97, and above the 200-day MA of 279.55, indicating a neutral trend. The MACD of -5.73 indicates Negative momentum. The RSI at 52.65 is Neutral, neither overbought nor oversold. The STOCH value of 67.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ₹1.41T | 13.64 | ― | 0.68% | 41.32% | 56.12% | |
64 Neutral | ₹190.25B | 13.98 | ― | ― | 8.01% | -20.87% | |
55 Neutral | ₹291.34B | 5.31 | ― | 1.87% | 4.79% | 13.08% | |
53 Neutral | ₹412.53B | 8.44 | ― | 2.83% | ― | ― | |
49 Neutral | ₹228.11B | 27.09 | ― | 0.80% | -3.68% | -80.12% | |
49 Neutral | ₹337.16B | 64.91 | ― | ― | 34.63% | -48.50% |
* Financial Sector Average
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Manappuram Finance Limited Corporate Events
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...
Manappuram Finance Uploads Q3 FY26 Results Call Transcript for Investor Access
Feb 3, 2026
Manappuram Finance Limited has notified the stock exchanges that the transcript of its Q3 FY 2025-26 results conference call, held on January 29, 2026, has been uploaded to the company’s website. The disclosure enhances transparency for inve...
Manappuram Finance Uploads Q3 FY26 Earnings Call Audio for Investors
Jan 30, 2026
Manappuram Finance Limited has notified the stock exchanges that the audio recording of its Q3 FY 2025-26 results conference call, held on January 29, 2026, has been uploaded to the company’s website. By making the recording publicly accessi...
Manappuram Rejects Report of Regulatory Delay in Bain Capital Deal
Jan 9, 2026
Manappuram Finance Limited has clarified to stock exchanges that a media report claiming its proposed deal with Bain Capital entities has been delayed due to Indian regulatory concerns is factually incorrect and speculative. The company stated tha...
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.