MANAPPURAM · NSE · Non Banking Financial Company (NBFC)
Manappuram Finance Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Financial Services
cheap
low confidence
No valuation within 120 days; P/E 19.2 vs peers 20.4 (6th of 14); P/B 1.5 vs peers 2.4 (3rd of 14).
Cheap for a reason: Profit -12.5% a year over 3 years.
Statements through FY2026Prices adjusted for 1 corporate actionNot yet reviewed by the adversarial model
What is Manappuram Finance's share price today?
Manappuram Finance last traded at ₹320.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, up 9.9% over a year. Its 52-week range is ₹245 to ₹382. The live price is in the app.
₹320.00
+1.6% today
+9.9% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range55% of the way up
Low ₹245High ₹382
What is Manappuram Finance's market cap?
Manappuram Finance's market capitalisation is about ₹29,570 crore: what it would cost to buy every share at today's price. That makes it the 43rd largest small cap company we cover.
₹29,570 Cr
Small Cap43rd largest small cap company
Share price₹320.00
×
Shares in issue92 crore
=
Market cap₹29,570 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: MANAPPURAM
- ISIN
- INE522D01027
- Cap bucket
- Small Cap, 43rd largest by market cap
- Industry (NSE)
- Financial Services › Finance › Non Banking Financial Company (NBFC)
- Listed since
- 2014
- Futures and options
- Traded
Is Manappuram Finance overvalued?
Cheap, with low confidence: no valuation within 120 days; P/E 19.2 vs peers 20.4 (6th of 14); P/B 1.5 vs peers 2.4 (3rd of 14). Cheap for a reason: profit -12.5% a year over 3 years.
Valuation
Latest price and trailing 12 months
P/E
19.21
vs peers 20.4 · 6th of 14
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
1.53
vs peers 2.4 · 3rd of 14
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹29,570 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
0.8%
vs peers 0.9% · 5th of 7
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
2.68
vs peers 2.9 · 6th of 12
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Manappuram Finance a quality business?
Quality score 43.8, 8th of 14 in its peer set; WATCH on 15 of 22 lender flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
43.8
vs peers 51 · 8th of 14
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
15 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Lender scorecard
Statements through FY2026 (Mar-26)
Basis: consolidated accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is interest earned less expended over average advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over average advances (the loan book from the Q4 filing); ROA over average total assets; ROE over average equity
Net interest margin
10.1%
vs peers 8.8% · 6th of 14
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA
Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA
Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage
Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost
3.0%
vs peers 1.6% · 12th of 13
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income
53.1%
vs peers 55.3% · 7th of 14
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets
1.6%
vs peers 3.3% · 12th of 14
Profit as a share of average total assets. Learn more →
CET1 ratio
Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY
48.7%
vs peers 23.9% · 3rd of 11
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY
Not available
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio
Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app
Get a sneak peek of Valarth
Has Manappuram Finance made money for shareholders?
Yes: +9.9% over one year and +13.3% a year over five years.
Shareholder returns
5-year return
+13.3% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+1.3%1M
−1.3%3M
−5.1%6M
+18.1%1Y
+9.9%3Y
+32.0%5Y
+13.3%Does Manappuram Finance pay a dividend?
Yes. Manappuram Finance's dividend yield is 0.80% at the latest price; the last payout was ₹1.00 a share, ex-dividend 17 Aug 2026.
Dividends
Per share, by ex-dividend date
Dividend yield0.80%
The past 12 months' dividends as a share of today's price.
17 Aug 2026 · Interim₹1.00
11 May 2026 · Interim 2₹0.50
6 Feb 2026 · Interim₹0.50
7 Nov 2025 · Interim₹0.50
14 Aug 2025 · Interim₹0.50
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is Manappuram Finance growing?
Loan growth 48.7%; revenue 3 years 12.2% a year; eps 3 years -14.0% a year.
Growth
Statements through FY2026 (Mar-26)
Loan growth
48.7%
vs peers 23.9% · 3rd of 11
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth
Not available
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years
12.2% a year
vs peers 25.9% · 13th of 14
Compound annual growth of revenue over three years. Learn more →
EPS 3 years
-14.0% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years
10.9% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years
-11.2% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
How did Manappuram Finance do last quarter?
Manappuram Finance reported income of ₹3,040 Cr, down 5.0% on a year earlier and a net profit of ₹585 Cr, down 17.5% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Income, latest quarter₹3,040 Cr
−5.0% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹585 Cr
−17.5% on a year earlier
What was left for shareholders after every cost and tax.
How does Manappuram Finance compare with its peers?
Compared with 13 Non Banking Financial Company (NBFC); 6th of 14 on P/E; 8th of 14 on quality score.
Compared with 13 Non Banking Financial Company (NBFC)
13 companies
- Manappuram Finance Ltd (this page)
- Muthoot Finance Ltd
- SBI Cards & Payment Services Ltd
- HDB Financial Services Ltd
- Authum Investment & Infrastructure Ltd
- Piramal Finance Ltd
- Sundaram Finance Ltd
- Mahindra & Mahindra Financial Services Ltd
- Poonawalla Fincorp Ltd
- IIFL Finance Ltd
- Capri Global Capital Ltd
- Five-Star Business Finance Ltd
- SBFC Finance Ltd
- Paisalo Digital Ltd
Manappuram Finance against its peers
Largest 10 of 13 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
Manappuram Finance Ltd₹29,570 Cr19.21.511.0%+9.9%
Poonawalla Fincorp Ltd₹39,389 Cr34.92.95.9%−15.3%
Capri Global Capital Ltd₹23,267 Cr20.62.415.4%+28.8%
Peer median—20.42.414.3%−7.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Manappuram Finance?
Manappuram Finance is held by promoters 41.7%, foreign institutions 22.3%, domestic institutions 14.8%.
Shareholding pattern
Latest filing, percent of shares
Promoters41.7%
The founders and controlling group.
Foreign institutions22.3%
Overseas funds investing through the FPI route.
Domestic institutions14.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds12.8%
Indian mutual fund schemes; part of domestic institutions.
Retail and others10.9%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Manappuram Finance?
14 analysts cover Manappuram Finance, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
14 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Manappuram Finance do and what is it sensitive to?
Manappuram Finance Limited is a retail financial services provider that offers loans against gold jewellery, loans against property, loans for purchase of commercial vehicles, and loans to MSMEs, per its own description. Sensitive to: gold price.
Business-model card
FY2025 · 44 verified
6Revenue
5Channels
3Regulators
3Reg. dependencies
5Sensitivities
4Costs
3Geographies
Manappuram Finance Limited is a retail financial services provider that offers loans against gold jewellery, loans against property, loans for purchase of commercial vehicles, and loans to MSMEs, per its own description. It serves individuals and businesses through 3,524 offices across 23 states and 6 union territories, and its excerpted income statement lines include interest income on loans and fees and commission income.
Revenue by segment
year ended March 31, 2025 (consolidated, Note 51: Segment reporting)
Gold loan and others72.8%
Microfinance27.2%
Revenue engine
6 verified
Financial services (lending): loans against gold jewellery, property, commercial vehicles, MSMEs (99.4%)
Company describes its turnover as coming from retail lending; the excerpt gives 99.36% of turnover from this activity. Interpretation: gold loans are the first product named and the Company calls itself a gold loan leader, so gold-loan interest is likely the core of this line.
Interest income on loans
Interest earned on the loan book is the main income line in the cash flow statement; it is the Company's core earning mechanism for lending.
Fees & commission income
Fee income is a second revenue stream alongside lending finance; processing fees not part of the effective interest rate are recognised as they accrue.
3 more statements
Vehicle & Equipment Finance
A named lending vertical with a split across CV, cars, two-wheelers and farm equipment; the excerpt does not give the revenue amount for this vertical.
Subsidiary Asirvad Microfinance: microfinance lending
Excerpt lists Asirvad Microfinance among subsidiaries and business verticals used for diversification; its revenue is not stated in the excerpt.
Subsidiary MAIBRO: insurance broking commission
MAIBRO is a wholly-owned subsidiary broker; it earns from distributing life and non-life insurance products. Interpretation: this income sits in the subsidiary, not the parent's lending line.
Customers & channels
5 verified
Individuals holding gold jewellery and salaried or self-employed borrowers
Individuals seeking quick financing for personal and family needs form one customer group; gold-jewellery holders are named explicitly.
Businesses and corporates (SMEs, large corporates, education and healthcare institutions)
Business customers form the second group, including SMEs and service institutions, which feed the MSME and corporate lending lines.
Branch network in Tier II and Tier III cities
Physical branches are the main access point to rural and semi-urban borrowers who lack formal banking access; the Company says the network also supports collections and service.
2 more statements
Rural and semi-urban customers without formal banking access
Company states the physical network is key to reaching this base; it is the target customer for branch-led gold lending.
Online Gold Loan (OGL) digital channel
A digital gold-loan platform added to branch distribution, supporting mobile-first borrowers.
Regulators
3 verified
Reserve Bank of India (RBI)
Registers and supervises the Company as a non-banking financial company; the excerpt lists RBI registration and the RBI Act as governing its lending.
Reserve Bank of India Act, 1934
Statutory law listed among laws applicable specifically to the Company; it governs its NBFC operations.
Insurance Regulatory and Development Authority of India (IRDAI)
Licenses the subsidiary MAIBRO as an insurance broker, which is the licence its insurance distribution income depends on.
Regulatory dependencies
3 verified
RBI Scale-Based Regulation Direction (dated October 19, 2023)
Requires a Risk Management Committee of the Board; a change to these directions would change governance cost and oversight of the lending book. Interpretation: the mechanism is compliance cost rather than revenue.
Insurance product approvals and FDI limits under IRDAI reforms
Excerpt describes regulatory reforms that ease product approvals and raise FDI limits in the insurance sector. Interpretation: this is industry-level and affects MAIBRO's broking through product availability.
Non-compliance penalties and restrictions
Company names penalties, restrictions or operational setbacks from non-compliance as a risk; a tighter regime would raise compliance cost and could restrict operations.
Sensitivities
5 verified
Gold price
Direction: a sustained fall in gold prices reduces the size of the gold loan portfolio and interest income; the Company says the immediate asset-quality impact is limited by low LTVs.
Loan-to-value on gold loans
Interpretation: disbursement LTV below 75% and average portfolio LTV of 62% to 65% give buffer against a gold price fall; a bigger fall would erode that buffer.
Interest rates
Company lends at fixed rates for periods that may differ from its funding, so rate moves change net interest margin; direction depends on the funding mismatch.
2 more statements
Macroeconomic slowdown and rural income shocks
Slowdowns reduce credit demand and strain asset quality; effects are pronounced for informal workers and micro-entrepreneurs in the customer base.
Liquidity and funding access
Mismatches in asset-liability tenures or constraints in funding markets can raise funding costs or cause shortfalls; the Company funds through banks, capital markets and institutional investors.
Cost inputs
4 verified
Funding sources: banks, capital markets, institutional investors
Borrowings are drawn from wholesale and retail sources; the cost of each source drives the finance cost line.
Impairment on financial instruments
Provisioning for loan losses is a large cost line, driven by borrower repayment and collateral value.
IT Support costs
A recurring operating cost line; the Company's digitisation depends on this spend.
1 more statement
Employee hiring and training
Company states high attrition raises hiring and training costs, a cost driven by staff retention.
Geographies
3 verified
India: 23 states and 6 union territories
All offices are domestic; the Company reports no international locations.
Southern states
Company says its gold-loan brand recall and trust are strongest in southern states.
Tier II and Tier III cities and rural areas
Expansion focus for branch and digital reach into underserved geographies.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Interim Dividend - Re 1 Per Share (17 Aug 2026).
Change log
8 entries · newest first
- Corporate actionInterim Dividend - Re 1 Per Share.
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Corporate actionInterim Dividend - Re 0.50 Per Share.
- Corporate actionInterim Dividend - Re 0.50 Per Share.
- Results filedQ3 FY2026 results filed.
- Corporate actionInterim Dividend - Re 0.50 Per Share.
- Results filedQ2 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 15 of 22 lender flags judged; 2 red; 7 could not be judged.
- ForensicsForensic scores withheld: share count up 11% in the year.
- Data gapsPEG on our 3-year EPS growth, Business quality, Gross NPA, Net NPA, Provision coverage, CET1 ratio and 3 more: not available yet.
Not applicable to a bank, lender or insurer · 12
- Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
- Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
- Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
- Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
- Interest coverageInterest is a lender's main cost, not a charge on operating profit.
- Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
- EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
- FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
- Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
- Asset turnoverA lender earns a spread on its assets, not a turnover of them.
- ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
- ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓196 months of month-end prices, adjusted for bonuses and splits (1 corporate action)○no valuation of ours yet✓business-model card FY2025 · 44 verified
Questions people ask
What is Manappuram Finance's share price today?
Manappuram Finance last traded at ₹320.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, up 9.9% over a year. Its 52-week range is ₹245 to ₹382. The live price is in the app.
What is Manappuram Finance's market cap?
Manappuram Finance's market capitalisation is about ₹29,570 crore: what it would cost to buy every share at today's price. That makes it the 43rd largest small cap company we cover.
Is Manappuram Finance Ltd a large cap, mid cap or small cap?
Manappuram Finance Ltd (MANAPPURAM) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Manappuram Finance Ltd's P/E ratio?
19.21, vs peers 20.4 · 6th of 14. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Manappuram Finance Ltd overvalued?
Cheap, with low confidence: no valuation within 120 days; P/E 19.2 vs peers 20.4 (6th of 14); P/B 1.5 vs peers 2.4 (3rd of 14). Cheap for a reason: profit -12.5% a year over 3 years.
How does Manappuram Finance Ltd make money?
Manappuram Finance Limited is a retail financial services provider that offers loans against gold jewellery, loans against property, loans for purchase of commercial vehicles, and loans to MSMEs, per its own description. It serves individuals and businesses through 3,524 offices across 23 states and 6 union territories, and its excerpted income statement lines include interest income on loans and fees and commission income.
Why is there no Altman Z or debt to equity for Manappuram Finance?
Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.
Who are Manappuram Finance Ltd's peers?
Compared with 13 Non Banking Financial Company (NBFC): Muthoot Finance Ltd, SBI Cards & Payment Services Ltd, HDB Financial Services Ltd, Authum Investment & Infrastructure Ltd, Piramal Finance Ltd and 8 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Manappuram Finance do last quarter?
Manappuram Finance reported income of ₹3,040 Cr, down 5.0% on a year earlier and a net profit of ₹585 Cr, down 17.5% in the Jun 2026 quarter.
Who owns Manappuram Finance?
Manappuram Finance is held by promoters 41.7%, foreign institutions 22.3%, domestic institutions 14.8%.
Does Manappuram Finance pay a dividend?
Yes. Manappuram Finance's dividend yield is 0.80% at the latest price; the last payout was ₹1.00 a share, ex-dividend 17 Aug 2026.
What do analysts say about Manappuram Finance?
14 analysts cover Manappuram Finance, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.