Any current/future new fundraising through debt or equity?

Manappuram Finance is exploring various options for raising capital, including for its Microfinance business (Asirvad). They have not finalized the mode of fundraising and are considering both IPO and private equity routes for raising growth capital. Promoters do not intend to sell their stake in Asirvad but recognize the need to raise external growth capital. The company is working on a few transactions of Non-Convertible Debentures (NCDs) as part of debt fundraising. There was a recent quarter increase in borrowing cost, largely due to bank loans, with a decrease in NCDs, but efforts are ong

Any current/future capex/capital investment/strategic investment?

The company is exploring options for raising capital for growth, particularly for its microfinance subsidiary, Asirvad. No final decision has been made regarding the mode of capital raise; options include an IPO or private equity infusion. The promoters intend to retain their stake in Asirvad and are not looking to sell the business. The need for capital arises to support growth initiatives, especially as the business stabilizes and expands. Discussions related to capital raise and strategic investment are ongoing, with no conclusive announcements yet.

Future growth expectations in sales/revenue/volumes?

Gold loan growth expected at 10% to 12% annually, driven by new customer acquisition and higher loan ticket sizes. Asirvad Micro Finance business aims for 25% to 30% growth, recovering from recent liquidity-driven slowdown. Overall AUM growth guidance is around 30% to 35% for the current year. Non-gold verticals targeting 35% to 40% annual growth, especially in vehicle finance, personal loans, and MSME segments, leveraging low current base. Focus on increasing customer base with 4.4 lakh new gold loan customers added in recent quarter; tonnage movement correlates inversely with gold pr

Future growth expectations in earnings/operating earnings/profits/EPS?

Net profit for the quarter was Rs. 498 crore, showing a 77% YoY improvement, driven by gold loan profitability and microfinance turnaround. Gold loan AUM steady at Rs. 20,603 crore; standalone AUM grew 12.6% YoY; consolidated AUM increased 20.6% YoY to Rs. 37,086 crore, indicating growth momentum. Expected AUM growth for Asirvad Micro Finance is 30-35% for the current year, with stable yields around 25%. Gold loan yield expected to be maintained around 21-22%, with cost of borrowing rising slightly but manageable; operating expenses (OPEX) as a percentage of AUM expected to decrease. C

Manappuram Finance LtdQ1 FY24Finance

Manappuram Finance Ltd Q1 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹302.1P/E: 19.6Market Cap: ₹28.4K CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Gold loan growth expected at 10% to 12% annually, driven by new customer acquisition and higher loan ticket sizes.
Asirvad Micro Finance business aims for 25% to 30% growth, recovering from recent liquidity-driven slowdown.
Overall AUM growth guidance is around 30% to 35% for the current year.
Non-gold verticals targeting 35% to 40% annual growth, especially in vehicle finance, personal loans, and MSME segments, leveraging low current base.
Focus on increasing customer base with 4.4 lakh new gold loan customers added in recent quarter; tonnage movement correlates inversely with gold price.
Yield stability expected in Micro Finance (~25%) with growth maintained through service improvements and technology.
OPEX expected to reduce as a percentage of AUM going forward due to business stabilization.

Margin guidance

Category 3

Net profit for the quarter was Rs. 498 crore, showing a 77% YoY improvement, driven by gold loan profitability and microfinance turnaround.
Gold loan AUM steady at Rs. 20,603 crore; standalone AUM grew 12.6% YoY; consolidated AUM increased 20.6% YoY to Rs. 37,086 crore, indicating growth momentum.
Expected AUM growth for Asirvad Micro Finance is 30-35% for the current year, with stable yields around 25%.
Gold loan yield expected to be maintained around 21-22%, with cost of borrowing rising slightly but manageable; operating expenses (OPEX) as a percentage of AUM expected to decrease.
Credit costs expected to stabilize around 2-2.5% of the average AUM with write-offs reducing in coming quarters.
Overall, management optimistic about sustaining a return on assets (ROA) near 5%, expecting operating earnings and profits to grow aligned with loan book growth and improved efficiency.

See what Manappuram Finance Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Manappuram Finance is exploring various options for raising capital, including for its Microfinance business (Asirvad).
They have not finalized the mode of fundraising and are considering both IPO and private equity routes for raising growth capital.
Promoters do not intend to sell their stake in Asirvad but recognize the need to raise external growth capital.
The company is working on a few transactions of Non-Convertible Debentures (NCDs) as part of debt fundraising.
There was a recent quarter increase in borrowing cost, largely due to bank loans, with a decrease in NCDs, but efforts are ongoing to raise debt via NCDs again.
Overall, capital raise discussions are ongoing, but no concrete decisions or timelines have been announced yet.

Order book

The document does not explicitly mention the current or expected order book or pending orders for Manappuram Finance Limited. The focus is primarily on financial performance, loan book growth, operating expenses, tonnage movement related to gold loans, and credit costs. There is no direct reference to order books or pending orders in the gold loan or microfinance businesses during the discussed period.

See what Manappuram Finance Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

The company is exploring options for raising capital for growth, particularly for its microfinance subsidiary, Asirvad.
No final decision has been made regarding the mode of capital raise; options include an IPO or private equity infusion.
The promoters intend to retain their stake in Asirvad and are not looking to sell the business.
The need for capital arises to support growth initiatives, especially as the business stabilizes and expands.
Discussions related to capital raise and strategic investment are ongoing, with no conclusive announcements yet.

Track Manappuram Finance Ltd — get its next earnings analysis in your feed

How does Manappuram Finance Ltd rank vs peers in Finance?

Pro feature

ThisManappuram Finance Ltd

Rev 2Mar 3

See where Manappuram Finance Ltd sits in FinanceSee which companies these are, and every other name in the sector.Open rankings

How does Manappuram Finance Ltd rank in Finance?

Compare Manappuram Finance Ltd against every Finance company (Q1 FY24) on revenue, margins and earnings-call signals.

View Finance leaderboard →

What Manappuram Finance Ltd's management said in earlier quarters

Others in Finance this season

JSW Holdings (Q2 FY27)
Total revenue from operations: ₹16,658.63 lakhs . Key results statement takeaways from JSW Holdings Ltd's Q2 FY27 results statement — and how it ranks against s
Indostar Capital Finance Ltd (Q2 FY27)
Revenue from operations for Q2 FY27: ₹381.9 crore . Key investor presentation takeaways from Indostar Capital Finance Ltd's Q2 FY27 investor presentation — and
TruCap Finance Ltd (Q2 FY27)
(74) lakhs, down 90% YoY . Key results statement takeaways from TruCap Finance Ltd's Q2 FY27 results statement — and how it ranks against sector peers.
Onemi Technology Solutions Ltd (Q2 FY27)
Total Income for Q2 FY27: ₹740 Cr, up 43.1% YoY (Page 39) . Key investor presentation takeaways from Onemi Technology Solutions Ltd's Q2 FY27 investor presentat

Compare:vs Bajaj Finance vs Bajaj Finserv vs Shriram Finance Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →