āagman

Not investment advice. Data and computed figures, for information only.

Manappuram Finance Ltd

NSE: MANAPPURAMF&O
₹323.40
−₹0.60 (−0.19%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹29,570 Cr
CMP
₹323.40
52-wk High / Low
₹382 / 245
P/E
20.4
P/B
1.8
Book Value
₹171.0
Div Yield
0.64%
ROCE
8.3%
ROE
7.0%
Face Value
₹2
D/E
3.60

Price+13.6% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
1
/ 9
1 of 9 F-score tests passed
Graham Number
₹203
√(22.5 × EPS × book value per share)
Cash flow to profit
−20.38
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
6.1%
ROE × earnings retention ratio
ROE stability
4.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +9.89FII −0.93DII +1.89
Latest quarter vs the previous one
Cash-accrual divergence
34.3%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+Promoter holding rose by 6.5pp over the last year
Watch-outs
−Latest ROCE of 8.3% trails the sector median of 9.4%
−Borrowings are up 500.1% since FY2016 (9638 to 57837)
−Piotroski F-Score of 1/9 is in the weak band (≤3)
−Balance-sheet accruals of 34.3% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,0302,1612,3052,3482,4882,6332,5602,3612,2622,2732,3542,6143,034
Expenses6716757297738468921,1911,6371,2331,0181,034877906
Operating Profit—————————————
OPM %—————————————
Other Income2713211424432325126
Interest6486897497798489069258958558769451,1091,274
Depreciation56626265646770667579777578
Profit before tax681747786746753773376−236102302303564782
Net Profit498561575564557572278−203132217239405585
EPS (₹)5.866.606.776.636.556.743.33−2.261.632.602.854.306.22

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,9882,3693,4063,4214,1805,4656,3316,0616,7008,84810,0129,50910,275
Expenses6488201,0111,3441,3651,5471,6692,1332,3172,8484,5574,1623,835
Operating Profit—————————————
OPM %—————————————
Other Income53358638644655072201525
Interest8779471,1691,0301,3451,8322,2192,0112,1882,8663,5413,7864,204
Depreciation5456636875164171198204246267307310
Profit before tax4145481,1661,0371,4572,0072,3161,7842,0412,9601,6661,2701,950
Net Profit2713557586769491,4801,7251,3291,5002,1971,2049931,445
EPS (₹)3.234.208.988.0411.1617.3720.3715.7017.6725.8614.3710.6815.97

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital168168168169169169169169169169169188—
Reserves2,4652,5903,1933,6454,3785,5777,1388,1999,47611,37912,26315,863—
Other Liabilities352443804609602767703623693880695672—
Total Liabilities11,61612,83915,15217,03020,44629,53531,33833,80839,50446,74849,20574,559—
Fixed Assets2062302223103678039261,0521,0941,0701,1341,057—
CWIP10101381317331127—
Investments2174955174903384215347267902,051—
Other Assets11,19312,56014,92516,71519,90428,63930,06632,32237,86044,91847,26971,424—
Total Assets11,61612,83915,15217,03020,44629,53531,33833,80839,50446,74849,20574,559—
Borrowing8,6329,63810,98612,60715,29723,02223,32724,81629,16734,32036,07757,837—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,924−888−1,042−1,271−33−1,661−3,620−619−423−3,103−3,450−467−20,238
Cash from Investing Activity264972−25−148−37126−186−193−616−601−125−1,632
Cash from Financing Activity−2,9232657721,2112932,3886,049594383,8494,0921,13223,834
Net Cash Flow426−198−841123562,455−747−177130415411,965

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %————————————8.3
ROE %9.011.013.025.019.022.028.026.017.017.021.010.07.0
EPS (₹)2.693.234.208.988.0411.1617.3720.3715.7017.6725.8614.3710.68
Book Value (₹)————————————171.0
Face Value (₹)————————————2
P/E————————————20.4
Div Yield %————————————0.64
NPM %—13.615.022.219.422.426.727.121.722.224.612.010.4
OPM %—————————————
D/E—3.283.493.273.313.364.013.192.973.022.972.903.60
P/B————————————1.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+15.0%
5 years+8.0%
3 years+12.0%
TTM+5.0%
Compounded profit growth
10 years+11.0%
5 years−10.0%
3 years−13.0%
TTM+81.0%
Stock price CAGR
10 years+13.0%
5 years+10.0%
3 years+29.0%
Last year+11.0%
Return on equity
10 years17.0%
5 years13.0%
3 years12.0%
Last year7.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters34.45%34.45%34.64%35.14%35.05%34.99%35.06%35.20%35.20%35.25%31.77%41.66%
FIIs34.99%34.99%0.00%44.18%39.50%38.58%29.83%30.17%31.99%28.43%23.23%22.30%
DIIs5.18%5.18%44.35%3.89%8.43%8.88%15.80%13.54%9.50%7.99%12.96%14.85%
Government————————————
Public25.38%25.38%21.01%16.79%17.02%17.55%19.31%21.11%23.32%28.33%32.03%21.20%
No. of shareholders94,61494,6141,37,8341,12,2181,39,7062,14,3953,46,5433,90,4904,37,4886,26,1375,54,1095,26,798
Change since Jun 2023 (pp)
Promoters +7.21FIIs −12.69DIIs +9.67Public −4.18

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Change in ManagementAnnouncement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Change in Management
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPT

Corporate actions

As of 17 Aug 2026
17 Aug 2026DIVIDENDInterim Dividend - Re 1 Per Share—
11 May 2026DIVIDENDInterim Dividend - Re 0.50 Per Share—
6 Feb 2026DIVIDENDInterim Dividend - Re 0.50 Per Share—
7 Nov 2025DIVIDENDInterim Dividend - Re 0.50 Per Share—
14 Aug 2025DIVIDENDInterim Dividend - Rs 0.50 Per Share—
15 May 2025DIVIDENDInterim Dividend - Rs 0.50 Per Share—
21 Feb 2025DIVIDENDInterim Dividend - Re 1 Per Share—
18 Nov 2024DIVIDENDInterim Dividend - Re 1 Per Share—
26 Aug 2024DIVIDENDInterim Dividend - Re 1 Per Share—
5 Jun 2024DIVIDENDInterim Dividend - Re 1 Per Share—
16 Feb 2024DIVIDENDInterim Dividend - Re 0.90 Per Share—
24 Nov 2023DIVIDENDInterim Dividend - Re 0.85 Per Share—
23 Aug 2023DIVIDENDInterim Dividend - Rs 0.80 Per Share—
24 May 2023DIVIDENDInterim Dividend - Re 0.75 Per Share—
15 Feb 2023DIVIDENDInterim Dividend - Re 0.75 Per Share—
22 Nov 2022DIVIDENDInterim Dividend - Re 0.75 Per Share—
17 Aug 2022DIVIDENDInterim Dividend - Rs 0.75 Per Share—
27 May 2022DIVIDENDInterim Dividend - Rs 0.75 Per Share—
24 Feb 2022DIVIDENDInt Dividend - Rs 0.75 Per Share—
24 Nov 2021DIVIDEND Interim Dividend - Rs 0.75 Per Share—
20 Aug 2021DIVIDEND Interim Dividend - Rs 0.75 Per Share—
4 Jun 2021DIVIDEND Interim Dividend - Rs 0.75 Per Share—
10 Feb 2021DIVIDEND Interim Dividend - Rs 0.65 Per Share—
18 Nov 2020DIVIDEND Interim Dividend - Rs 0.60 Per Share—
12 Mar 2020DIVIDEND Interim Dividend - Rs 0.55 Per Share—
6 Feb 2020DIVIDEND Interim Dividend - Rs 0.55 Per Share—
19 Nov 2019DIVIDEND Interim Dividend - Rs 0.55 Per Share—
23 Aug 2019DIVIDEND Interim Dividend - Rs 0.55 Per Share—
27 May 2019DIVIDEND Interim Dividend - Re 0.55 Per Share—
15 Feb 2019DIVIDEND Interim Dividend - Re 0.55 Per Share—
19 Nov 2018DIVIDEND Interim Dividend - Re 0.55 Per Share—
23 Aug 2018DIVIDEND Interim Dividend- Re 0.55 Per Share—
29 May 2018DIVIDEND Interim Dividend- Re 0.50 Per Share—
20 Feb 2018DIVIDEND Interim Dividend Re 0.50 Per Share—
16 Nov 2017DIVIDEND Interim Dividend - Re 0.50 Per Share—
22 Aug 2017DIVIDEND Interim Dividend - Re 0.50 Per Share—
5 Jun 2017DIVIDEND Interim Dividend Re 0.50/- Per Share—
16 Feb 2017DIVIDEND Interim Dividend Re 0.50 Per Share—
22 Nov 2016DIVIDEND Interim Dividend Re 0.50 Per Share—
22 Aug 2016DIVIDEND Dividend Re 0.50 Per Share—
22 Mar 2016DIVIDEND Interim Dividend - Re 0.45/- Per Share—
23 Feb 2016DIVIDEND Interim Dividend - Re 0.45/- Per Share—
24 Nov 2015DIVIDEND Interim Dividend-Re 0.45/- Per Share—
4 Sep 2015DIVIDEND Interim Dividend - Re 0.45/- Per Share—
25 May 2015DIVIDENDInterim Dividend - Re 0.45/- Per Share—
12 Feb 2015DIVIDENDInterim Dividend - Re 0.45/- Per Share—
12 Nov 2014DIVIDENDInterim Dividend - Re 0.45/- Per Share—
13 Aug 2014DIVIDENDInterim Dividend - Re 0.45/- Per Share (22.5%)—
23 Jul 2014DIVIDENDAnnual General Meeting / Final Dividend - Re 0.45/- Per Share (22.5%)—
18 Feb 2014DIVIDENDInterim Dividend Re 0.45/- Per Share—
25 Nov 2013DIVIDENDInterim Dividend Re.0.45 Per Share—
22 Aug 2013DIVIDENDInterim Dividend Re.0.45 Per Share—
22 Mar 2013DIVIDENDInterim Dividend Rs. 1.50 Per Share—
13 Feb 2012DIVIDENDInterim Dividend Re.0.50 Per Share—
9 Jun 2011BONUSBonus Shares In The Ratio Of 1:1—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman