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MANAPPURAM - Manappuram Fin.

📊 NSE: MANAPPURAM 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 9:31

📢 Recent Corporate Announcements

Manappuram Finance Appoints Sreekanth P V as President & Group Head of Operations and Digital

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 07 Mar 2026, 03:36 PM

Manappuram Finance has appointed Mr. Sreekanth P V as President and Group Head of Operations, Services, and Digital, effective March 7, 2026. Mr. Sreekanth brings over 22 years of extensive experience in the financial services sector, including a significant tenure at Bajaj Finance Ltd as Deputy Executive Vice President of Digital Platforms. His background includes leadership roles at global institutions like HSBC and Standard Chartered, focusing on digital transformation and lending operations. This appointment is expected to bolster Manappuram's digital infrastructure and operational efficiency.

Mr. Sreekanth P V appointed as President and Group Head - Operations, Services and Digital effective March 7, 2026
Appointee brings over 22 years of experience in operations, digital platforms, and product innovation
Previously held senior leadership roles at Bajaj Finance Ltd, including Deputy Executive Vice President – Digital Platforms
Extensive career history with major financial institutions including HSBC, GE Money, and Standard Chartered Bank
Educational background includes an MBA and B.Com (Honours) from Sri Sathya Sai Institute of Higher Learning

💡 Investors should view this as a positive move to strengthen the leadership team with expertise from a top-tier competitor like Bajaj Finance. Monitor the company's progress in digital transformation and operational scaling under the new leadership.

Manappuram Finance CEO Deepak Reddy to Take 90-120 Day Medical Leave

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 25 Feb 2026, 07:58 PM

Manappuram Finance has announced that its CEO and Key Managerial Personnel, Mr. Deepak Reddy, will be on a medical leave of absence effective February 25, 2026. The leave is expected to last between 90 and 120 days as he travels overseas for medical treatment. The company has not yet named an interim CEO to handle responsibilities during this 3-4 month period. Investors should monitor for further disclosures regarding temporary leadership arrangements to ensure operational stability.

CEO Deepak Reddy on medical leave of absence starting February 25, 2026
Expected duration of absence is between 90 to 120 days
Leave is required for overseas medical treatment and recovery
Mr. Reddy is a designated Key Managerial Personnel (KMP) of the company

💡 Investors should watch for updates on interim leadership to ensure there is no disruption in strategic execution. The stock may see minor volatility due to the temporary leadership gap.

RBI Approves Bain Capital's Acquisition of Up to 41.66% Stake in Manappuram Finance

🟢 POSITIVE ⭐ 9/10

M&A 📅 14 Feb 2026, 06:07 PM

Manappuram Finance has received final approval from the Reserve Bank of India (RBI) for the acquisition of up to 41.66% of its equity capital by BC Asia Investments (Bain Capital). The RBI has also granted a waiver for the public notice period, which typically accelerates the transaction process. While this is a major regulatory milestone, final consummation depends on pending RBI approvals for the company's subsidiaries, Asirvad Micro Finance and Manappuram Home Finance. The deal involves a mandatory open offer to public shareholders as per SEBI regulations.

RBI grants final approval for BC Asia Investments to acquire up to 41.66% stake in the company.
The regulator waived the mandatory public notice period, speeding up the change in control process.
Acquisitions crossing 26% after one year (excluding warrant conversions) will require fresh RBI approval.
Final deal completion is still subject to pending RBI approvals for Asirvad Micro Finance and Manappuram Home Finance.
Investors must submit an action plan to RBI to ensure no multiple NBFCs of the same category exist within the group.

💡 Investors should view this as a significant positive development as it brings in a Tier-1 global investor, though they should monitor the progress of pending subsidiary approvals and the upcoming Open Offer details.

Manappuram Finance Releases Q3 FY 2025-26 Earnings Call Transcript

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 04:02 PM

Manappuram Finance has officially released the transcript for its Q3 FY 2025-26 earnings conference call held on January 29, 2026. This document provides a detailed record of management's commentary and their responses to analyst questions regarding the company's financial performance. Such transcripts are essential for investors to understand the underlying drivers of the quarterly results and management's future outlook. The filing ensures transparency and equal access to information for all market participants.

Official transcript of the Q3 FY 2025-26 results conference call is now available.
The conference call was originally conducted on January 29, 2026.
The document includes management's detailed discussion on operational metrics and financial health.
Filing is in compliance with SEBI Listing Obligations and Disclosure Requirements.

💡 Investors should review the transcript on the company's website to gain insights into management's stance on gold loan growth and asset quality trends. This is a routine disclosure and does not contain new financial data beyond what was reported in the Q3 results.

Manappuram Finance Releases Q3 FY 2025-26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jan 2026, 09:07 AM

Manappuram Finance has officially shared the audio recording of its Q3 FY 2025-26 results conference call, which was conducted on January 29, 2026. This filing is a standard regulatory requirement to provide all investors with access to management's discussion on quarterly performance. The recording is available on the company's website for public review. It allows stakeholders to hear direct commentary regarding the company's financial health and future guidance.

Audio recording for the Q3 FY 2025-26 results conference call is now publicly available.
The conference call was held on January 29, 2026, following the quarterly results announcement.
The recording link is hosted on the official Manappuram Finance website under the investor relations section.
Compliance filing submitted to BSE, NSE, and India International Exchange (IFSC) Ltd.

💡 Investors who missed the live session should listen to the recording to understand management's outlook on gold loan yields and microfinance asset quality. No immediate action is required as this is a routine administrative disclosure.

Manappuram Finance Appoints Aparna Menon as Company Secretary; Manoj Kumar V R Resigns

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Jan 2026, 06:37 PM

Manappuram Finance has announced a planned transition in its secretarial leadership. Mr. Manoj Kumar V R has resigned as Company Secretary and Compliance Officer, effective March 31, 2026, to pursue an independent career. The board has appointed Ms. Aparna Menon, who has 11 years of professional experience and currently serves at subsidiary Asirvad Micro Finance, as the successor. She will join as CS Designate on March 1, 2026, and officially take over the KMP role on April 1, 2026.

Mr. Manoj Kumar V R to step down as CS and Compliance Officer effective March 31, 2026
Ms. Aparna Menon appointed as Company Secretary Designate starting March 1, 2026
Ms. Menon will officially assume the Key Managerial Personnel (KMP) role on April 1, 2026
The new appointee brings 11 years of experience in corporate secretarial and regulatory affairs
Transition includes a one-month overlap period to ensure a smooth handover of responsibilities

💡 This is a routine management transition with a clear succession plan and should not impact the company's operations. No immediate action is required from investors.

Manappuram Finance Declares Rs 0.50 Interim Dividend; Sets Feb 6 as Record Date

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 04:39 PM

Manappuram Finance has declared an interim dividend of Rs. 0.50 per equity share, which is 25% of the face value of Rs. 2. The company has fixed February 6, 2026, as the record date for determining shareholder eligibility. Alongside the dividend, the board approved the financial results for the quarter and nine months ended December 31, 2025. The company also reported the successful utilization of Rs. 1,000 crores raised through NCDs for business growth with no deviations.

Interim dividend of Rs. 0.50 per share (25% of face value) declared.
Record date for dividend payment fixed as February 6, 2026.
Board approved un-audited standalone and consolidated financial results for Q3 FY26.
Total of Rs. 1,000 crores raised via NCDs in December 2025 fully utilized for asset book growth.
Zero deviation reported in the utilization of funds raised through private placements.

💡 Investors interested in the dividend should ensure they hold the stock before the ex-dividend date. Additionally, review the Q3 financial results to evaluate the company's operational performance and gold loan book growth.

Manappuram Finance Declares Rs 0.50 Interim Dividend; Sets Record Date for Feb 6, 2026

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 04:31 PM

Manappuram Finance has declared an interim dividend of Rs 0.50 per equity share, which is 25% of the face value of Rs 2. The company has fixed February 6, 2026, as the record date for determining eligible shareholders for the payout. Alongside the dividend, the board approved the Q3 FY26 financial results and confirmed the successful utilization of Rs 1,000 crore raised through NCDs in December 2025 for business growth. This consistent dividend payout reflects the company's commitment to returning value to shareholders.

Interim dividend declared at Rs 0.50 per equity share (25% of face value)
Record date for dividend eligibility set for Friday, February 6, 2026
Confirmed utilization of Rs 1,000 crore raised via NCDs for asset book expansion
Approved un-audited standalone and consolidated financial results for the quarter ended Dec 31, 2025
NCD funds raised in two tranches of Rs 500 crore each on Dec 15 and Dec 30, 2025

💡 Investors interested in the dividend should ensure they hold the stock before the record date of February 6, 2026. Long-term investors should also review the detailed Q3 financial performance to assess the growth in the gold loan portfolio.

Manappuram Finance Declares ₹0.50 Interim Dividend; Sets Record Date for Feb 6, 2026

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 04:14 PM

Manappuram Finance has declared an interim dividend of ₹0.50 per equity share, which is 25% of the face value of ₹2. The company has fixed February 6, 2026, as the record date to identify eligible shareholders for the payout. Alongside the dividend, the board approved the financial results for the quarter ended December 31, 2025. The company also confirmed the full utilization of ₹1,000 crore raised through private placement of NCDs in December 2025 for business growth.

Interim dividend declared at ₹0.50 per equity share (25% of face value)
Record date for dividend eligibility is Friday, February 6, 2026
Successful deployment of ₹1,000 crore raised via NCDs into asset book growth
Board approved un-audited standalone and consolidated financial results for Q3 FY26
NCD funds were raised in two tranches of ₹500 crore each in December 2025

💡 Investors interested in the dividend should ensure they hold the stock before the record date of February 6, 2026. The continued fundraise and deployment indicate a focus on maintaining growth in the gold loan and microfinance books.

Manappuram Finance Declares ₹0.50 Interim Dividend and Approves Q3 FY26 Results

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 04:04 PM

Manappuram Finance Limited has approved its financial results for the quarter ended December 31, 2025, and declared an interim dividend of ₹0.50 per equity share. The dividend represents 25% of the face value of ₹2 per share, with the record date fixed for February 6, 2026. The company also confirmed the successful raising and full utilization of ₹1,000 crores through private placements of Non-Convertible Debentures (NCDs) in December 2025. These funds were deployed for business growth and asset book expansion without any deviations.

Interim dividend of ₹0.50 per equity share (25% of face value) declared.
Record date for dividend eligibility is set for February 6, 2026.
Raised ₹1,000 crores via two NCD tranches of ₹500 crores each in December 2025.
100% of NCD proceeds utilized for business deployment and asset book growth.
Un-audited standalone and consolidated financial results for Q3 FY26 approved.

💡 Investors should track the record date of February 6, 2026, to qualify for the interim dividend. The continued fundraise and utilization for asset growth indicate a focus on business expansion.

Manappuram Finance Schedules Q3 FY26 Earnings Call for January 29, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 23 Jan 2026, 06:52 PM

Manappuram Finance has announced its Q3 FY26 earnings conference call scheduled for January 29, 2026, at 5:00 PM IST. The management team, including the MD, CEO, and CFO, will discuss the quarterly financial performance and future business outlook. Leadership from key subsidiaries, including Asirvad Microfinance and Manappuram Home Finance, will also be present to address segment-specific queries. Investors can access the presentation on the company's website on the day of the meeting.

Earnings call for Q3 FY26 scheduled for January 29, 2026, at 05:00 PM IST.
Management to discuss financial results and provide a business outlook for the upcoming quarters.
Participation includes top executives from the parent company and its Microfinance and Home Finance subsidiaries.
The investor presentation will be made available on the company website on the meeting date.

💡 Investors should attend the call or review the transcript to assess the growth trajectory of the gold loan portfolio and the asset quality of the microfinance business. Key metrics to watch include Net Interest Margins and credit costs in the Asirvad Microfinance segment.

Manappuram Finance EGM: Shareholders Vote to Increase Borrowing Limits for Credit Expansion

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 22 Jan 2026, 05:51 PM

Manappuram Finance held an Extraordinary General Meeting (EGM) on January 22, 2026, to seek approval for increasing its borrowing capacity. The company proposed a special resolution to borrow funds in excess of its paid-up share capital and free reserves to support credit expansion and optimize funding costs. Additionally, resolutions were presented for creating charges on company properties and revising the remuneration for Executive Director Dr. Sumitha Nandan. Management emphasized that these steps are vital for maintaining liquidity and financial flexibility in a growing NBFC sector.

Proposed increase in borrowing limits under Section 180(1)(c) to support business expansion and liquidity.
Approval sought for creating charges or mortgages on company properties to facilitate secured borrowing.
Resolution placed for the revision of remuneration payable to Dr. Sumitha Nandan, Whole-time Director.
Management reiterated a strategic focus on retail and secured lending and digital capability enhancement.
The EGM was conducted via video conferencing with remote e-voting concluded on January 21, 2026.

💡 Investors should view the increase in borrowing limits as a signal of management's intent to scale the loan book. Monitor the final voting results and upcoming debt issuance plans to assess the company's ability to lower its cost of funds.

Manappuram Finance EGM: Shareholders Vote to Increase Borrowing Limits for Growth

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 22 Jan 2026, 04:19 PM

Manappuram Finance held an Extraordinary General Meeting (EGM) on January 22, 2026, to seek approval for increasing its borrowing limits beyond the aggregate of paid-up share capital and free reserves. This strategic move is designed to provide the company with greater financial flexibility to support credit expansion and optimize the cost of funds. Shareholders also voted on creating charges on company properties to secure these borrowings and a revision in the remuneration for Executive Director Dr. Sumitha Nandan. Management reiterated a focus on retail and secured lending while maintaining a conservative approach to leverage.

Proposed special resolution to increase borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
Sought approval to create charges or mortgages on company properties to facilitate secured borrowing.
Proposed revision in the remuneration package for Dr. Sumitha Nandan, Whole-time Director.
Management emphasized the need for diversified and cost-effective funding to meet robust credit demand in the NBFC sector.
Remote e-voting was conducted between January 18 and January 21, 2026, prior to the EGM.

💡 Investors should monitor the final voting results as the increased borrowing headroom signals management's readiness for business expansion. The focus on secured lending and optimized funding costs is a positive sign for long-term margin stability.

Manappuram Denies Reports of Bain Deal Delay; Awaits Final RBI Approval for Change of Control

🔵 WATCH ⭐ 8/10

M&A 📅 09 Jan 2026, 09:24 PM

Manappuram Finance has officially denied media reports suggesting that its deal with Bain Capital (BC Asia Investments) is delayed due to regulatory concerns. The company clarified that it has already secured RBI approvals for management changes in the parent entity (Sept 17, 2025) and its subsidiaries, Asirvad Micro Finance and Manappuram Home Finance (Aug 27, 2025). While the final approval for 'change of control' is still pending with the RBI, the company has submitted all required filings and responses to clarifications. The management labeled the news reports as speculative and factually incorrect.

Company denies Economic Times report regarding regulatory delays in the Bain Capital transaction
RBI approval for change in management was previously received on September 17, 2025
Subsidiaries AMFL and MHFL received management change approvals earlier on August 27, 2025
Final RBI approval for the 'change of control' is currently pending following submission of all clarifications
The deal involves BC Asia Investments XIV and XXV acquiring joint control with existing promoters

💡 Investors should ignore the speculative reports and focus on the official timeline for the final RBI approval for change of control. The successful completion of this deal with Bain Capital remains a significant catalyst for the stock.

Manappuram Finance Files Quarterly SEBI Compliance Certificate for Dec 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Jan 2026, 04:20 PM

Manappuram Finance Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The certificate, issued by Registrar and Transfer Agent MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed within the required timelines. It verifies that securities were listed on the stock exchanges and that physical certificates were mutilated and cancelled. This is a standard procedural filing required by SEBI to ensure the integrity of the dematerialization process.

Quarterly compliance certificate submitted for the period ending December 31, 2025
Registrar MUFG Intime India confirmed processing of dematerialization requests within prescribed timelines
Physical share certificates were mutilated and cancelled after due verification by the depository participant
Confirmation that dematerialized securities are listed on the relevant stock exchanges where earlier securities are listed

💡 This is a routine administrative update with no impact on company fundamentals; investors should continue to monitor financial performance and business growth.

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💰 Financial Performance

Revenue Growth by Segment

Asirvad Microfinance revenue fell 53.8% YoY to INR 360 Cr in Q2 FY26. Standalone Vehicle and Equipment Finance AUM grew to INR 5,085 Cr, up from INR 4,773 Cr in the previous quarter. Gold loan auction volume was INR 229 Cr for the quarter.

Geographic Revenue Split

Not disclosed in available documents, though operations focus on semi-urban and rural locations across India.

Profitability Margins

Asirvad Microfinance reported a PAT loss of INR 168 Cr in Q2 FY26, a 323.3% decline from a profit of INR 75 Cr in Q2 FY25. Pre-provision profit for Asirvad fell 90.2% YoY to INR 30 Cr.

EBITDA Margin

Asirvad Microfinance Net Interest Income (NII) fell 58% YoY to INR 209 Cr. Consolidated profitability was impacted by a 21.2% YoY increase in Asirvad's impairment of financial instruments to INR 247 Cr.

Capital Expenditure

Parent company infused INR 500 Cr equity into Asirvad Microfinance to support liquidity and capital structure during a difficult sector phase.

Credit Rating & Borrowing

Approved issuance of Secured Non-Convertible Debentures (NCDs) up to INR 500 Cr on a private placement basis in December 2025. Asirvad finance costs fell 46.3% YoY to INR 151 Cr due to lower disbursement volumes.

⚙️ Operational Drivers

Raw Materials

Debt and Equity Capital represent 100% of the 'raw material' for lending operations. Finance costs for Asirvad were INR 151 Cr, representing 41.9% of its revenue from operations.

Import Sources

Domestic capital markets and banking institutions within India.

Key Suppliers

Lenders include various Indian banks and institutional investors through private placement of debentures (INR 500 Cr approved).

Capacity Expansion

Vehicle Finance operations are carried out from 150+ existing gold loan branches. The company is focusing on increasing per-branch AUM to reduce OpEx to AUM ratios.

Raw Material Costs

Finance costs for Asirvad fell 46.3% YoY to INR 151 Cr in Q2 FY26. Procurement strategy involves shifting to co-lending models with 10-20% participation to optimize capital use.

Manufacturing Efficiency

Focusing on OpEx to AUM reduction through per-branch AUM growth and leveraging technology for auto-underwriting.

📈 Strategic Growth

Expected Growth Rate

6.5-6.6%

Growth Strategy

Executing a 6-priority roadmap: strengthening gold loans, accelerating Housing Finance (HFC) growth, stabilizing Asirvad MFI through better collections, and expanding co-lending. The company is also shifting vehicle finance to higher ticket sizes (INR 8-15L) to improve asset quality.

Products & Services

Gold Loans, Microfinance Loans (Asirvad), Vehicle and Equipment Finance, Housing Finance (Manappuram Home Finance), MSME Loans, and Insurance Broking.

Brand Portfolio

Manappuram Finance, Asirvad Microfinance, Manappuram Home Finance.

New Products/Services

Expansion of co-lending models (10-20% participation) and digital lending platforms to improve operational efficiency.

Market Expansion

Focus on semi-urban and rural locations for used commercial vehicle finance and marketing the PMAY government subsidy scheme for housing finance.

Strategic Alliances

Co-lending partnerships where Asirvad participates with 10% to 20% of the loan value.

🌍 External Factors

Industry Trends

Increasing recognition of NBFCs in financial penetration. Industry yield benchmark is 18.5%. Shift toward digital payment platforms for operational efficiency.

Competitive Landscape

Competition from banks resetting rates and other NBFCs; company maintains NIM by resetting borrowing costs and improving OpEx efficiency.

Competitive Moat

Brand legacy and a massive physical branch network (150+ for vehicle finance alone) provide a durable cost and reach advantage in rural/semi-urban markets.