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Manba Finance Limited
(MANBA)
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Rating:58Neutral
Price Target:
₹146.00
▲(8.59% Upside)
Action:Reiterated
Date:07/22/26
The score is primarily held back by financial quality: despite strong growth, leverage is high and cash flows are materially negative, raising funding and sustainability risk. Technicals are supportive with a clear uptrend and positive momentum indicators, while valuation looks reasonable on earnings (moderate P/E) but offers limited dividend support.
Positive Factors
Specialized vehicle-finance model
A focused NBFC model concentrated on vehicle loans and dealer distribution creates durable origination channels and collateralized assets. Specialization supports underwriting expertise, repeat dealer relationships and steady demand from retail vehicle purchases, underpinning long-term loan growth.
Negative Factors
High and rising leverage
A debt-heavy capital structure magnifies balance-sheet risk and reduces financial flexibility. If funding costs rise or asset quality weakens, higher leverage can quickly strain interest coverage and capital buffers, constraining growth and forcing more conservative lending or capital raises.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized vehicle-finance model
A focused NBFC model concentrated on vehicle loans and dealer distribution creates durable origination channels and collateralized assets. Specialization supports underwriting expertise, repeat dealer relationships and steady demand from retail vehicle purchases, underpinning long-term loan growth.
Read all positive factors
Manba Finance Limited (MANBA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.61B
Dividend Yield0.77%
Average Volume (3M)23.69K
Price to Earnings (P/E)13.4
Beta (1Y)1.07
Revenue Growth30.68%
EPS Growth15.27%
CountryIN
Employees1,468
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)3.87
Shares Outstanding50,239,410
10 Day Avg. Volume21,667
30 Day Avg. Volume23,686
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)1.26
Price to Sales (P/S)1.64
P/FCF Ratio-1.36
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)N/A
Revenue Forecast (FY)N/A
Manba Finance Limited Business Overview & Revenue Model
Company Description
Manba Finance Limited is an Indian non-banking financial company that delivers a diverse range of credit solutions nationwide. The firm specializes in providing loans for new and electric two-wheelers and three-wheelers, alongside financing for pr...
How the Company Makes Money
Manba Finance Limited primarily makes money by earning interest income on loans it disburses (its core lending business). Key revenue streams typically include: (1) Interest income: the spread between the interest charged to borrowers on vehicle/c...
Manba Finance Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 1.38B | 3.13B | 2.37B |
| Gross Profit | 580.86M | 1.02B | 908.25M |
| EBITDA | 249.84M | 886.79M | 557.61M |
| Net Income | 194.22M | 453.56M | 378.02M |
Balance Sheet | |||
| Total Assets | 18.87B | 19.79B | 14.66B |
| Cash, Cash Equivalents and Short-Term Investments | 3.99B | 2.67B | 2.40B |
| Total Debt | 14.70B | 15.56B | 10.84B |
| Total Liabilities | 14.99B | 15.69B | 10.97B |
| Stockholders Equity | 3.89B | 4.10B | 3.69B |
Cash Flow | |||
| Free Cash Flow | -4.11B | -3.79B | -3.26B |
| Operating Cash Flow | -4.08B | -3.78B | -37.83M |
| Investing Cash Flow | -488.67M | -596.82M | -1.71M |
| Financing Cash Flow | 5.74B | 4.65B | 52.97M |
Manba Finance Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹4.95B | 5.70 | ― | 0.93% | 19.69% | 15.58% | |
60 Neutral | ₹5.15B | 27.71 | ― | 0.45% | 48.83% | 36.27% | |
58 Neutral | ₹6.61B | 13.38 | ― | 0.71% | 30.68% | 15.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹4.01B | 240.60 | ― | ― | 5.87% | ― | |
47 Neutral | ₹4.25B | 17.53 | ― | ― | 23.27% | -20.85% |
* General Sector Average
IN:MANBA
Manba Finance Limited
130.10
-7.61
-5.53%
IN:ASCOM
Ascom Leasing & Investments Ltd.
233.60
40.55
21.00%
IN:CSLFINANCE
CSL Finance Limited
219.75
-81.84
-27.14%
IN:MANCREDIT
Mangal Credit & Fincorp Ltd.
237.80
57.83
32.13%
IN:MUTHOOTCAP
Muthoot Capital Services Ltd.
257.50
-12.80
-4.74%
IN:MONEYBOXX
MoneyBoxx Finance Ltd.
58.00
-13.80
-19.22%
Manba Finance Limited Corporate Events
Manba Finance launches EV battery replacement loans for electric three-wheelers
Jul 22, 2026
Manba Finance Limited has launched a dedicated Battery Replacement Financing product to fund new lithium-ion batteries for electric three-wheelers, targeting e-rickshaw and e-cart owners whose earnings are at risk when batteries reach end-of-life....
Manba Finance Updates Compliance Officer and RTA Details for June Quarter
Jul 6, 2026
Manba Finance Limited, a Mumbai-based non-banking financial company with debt securities listed on the National Stock Exchange of India and BSE Limited, participates actively in India’s capital markets under SEBI’s regulatory framework...
Manba Finance Updates Exchanges on One-on-One Investor Meeting
Jun 17, 2026
Manba Finance Limited has reported that its management held a one-on-one meeting with C S Investment Managers Private Limited, an analyst and investor entity, on June 16, 2026. The company emphasized that only information already available in the...
Manba Finance Expands EV and Rural Lending via New Strategic Partnerships
Jun 8, 2026
Manba Finance Limited has entered into strategic partnerships with Gurugram-based AMU Leasing Pvt. Ltd. and BRMP Leasing Finance Private Limited, which operates under the SHFIN brand, to broaden its presence in electric mobility and rural financi...
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.