Manappuram Finance Ltd

- The company plans fresh additional capital infusion from Bain, expected 1-2 quarters down the line. - Bain's investment includes a 9% stake this year and fully convertible warrants convertible within 18 months, potentially raising their stake to around 18%. - The Company is highly capitalized with a current Capital Adequacy Ratio close to 30%, expected to rise to about 39-40% after new promoter funds. - There was a Rs. 500 crore equity infusion into the subsidiary (Asirvad) in Q1 to strengthen its balance sheet. - No explicit mention of new debt fundraising in the near term; focus is on leveraging existing capital and co-lending for growth funding. - Cost of borrowing is expected to reduce, with borrowing cost down by 12 basis points recently and likely to continue for the next two quarters.

- No explicit mention of immediate capital expenditure or strategic investments was made in the call. - The company plans to focus on growth and diversification, particularly by accelerating the gold loan business through co-lending and branch infrastructure strengthening. - A new group leadership team is being onboarded by February-March 2026 to drive transformation. - Bain's capital infusion is expected in the next 1-2 quarters, which will increase capital adequacy ratio from ~30% to about 39-40%. - The company is working on a strategic roadmap to be shared around Q4 FY26, which will detail medium to long-term plans including product launches and technology upgrades. - No immediate plans to simplify corporate structure or sell subsidiaries like Asirvad Microfinance. - Investment focus is on improving operations, underwriting, collections, technology platforms, and building subsidiaries rather than hard capex.

- Gold loan business expected to grow at a CAGR of 20%-25% in coming years, with good growth projected this year (Page 13, Page 8). - Growth driven by larger ticket size loans, co-lending with banks/NBFCs, and improved branch infrastructure and technology (Page 8, Page 9, Page 12). - Asirvad microfinance business expected to maintain focus on asset quality and gradual growth, no intention to sell off (Page 19). - Vehicle finance and MSME loans are being re-strategized focusing on better segments (ticket size Rs. 8-15 lakhs) to improve growth within 1-2 quarters (Page 8). - Overall, calibrated and quality-focused growth approach being maintained, especially for MFI and vehicle financing, with ramp-up expected gradually (Page 17). - Management targeting consolidated profitability improvement with diversification and volume growth in gold loans and co-lending opportunities (Page 4, Page 19).

- Manappuram Finance expects good growth in the gold loan business, targeting a CAGR of 20%-25% even if gold prices decline. - Focus on co-lending with banks and subsidiaries to accelerate gold loan growth and leverage branch network. - Vehicle finance disbursements to ramp up gradually after strategic reprioritization towards higher ticket sizes, with improvements expected in 1-2 quarters. - Operating efficiency is improving due to higher per-branch AUM, leading to better OpEx management. - Interest rate reductions on gold loans are expected to stabilize around 18.5%, with margins protected by lower borrowing costs and operational efficiencies. - Provisioning in vehicle finance has increased; credit costs are being closely monitored to maintain asset quality. - No plans to sell the microfinance subsidiary (Asirvad); emphasis on maintaining high asset quality. - Overall, cautious but optimistic approach to calibrated growth with focus on profitability and risk management.

The document does not provide specific details on the current or expected order book or pending orders for Manappuram Finance Limited. The focus is primarily on financial performance, business strategies, asset quality, and operational updates across gold loans, microfinance, vehicle finance, and other segments. No explicit mention of order book or pending orders is made in the excerpts provided.