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Indian NBFC lending against pledged gold jewellery, with a microfinance subsidiary (Asirvad) for small unsecured loans.
Indian NBFC lending against pledged gold jewellery, with a microfinance subsidiary (Asirvad) for small unsecured loans.
Customers pledge gold jewellery and borrow against it for short periods at high interest, with the gold as collateral, so profit swings with the gold price and with how much the central bank lets lenders advance against the metal's value. Microfinance is the unsecured side, with more credit risk.
In one line: India's pawn-lending specialist, like a public gold-loan focused consumer lender.
Moat: narrow (distribution, process know-how). Dense branch network and gold-valuation expertise support fast, low-loss secured lending.
Headquarters: Thrissur, India · Founded: 1949 · Employees: 42,100
Size Manappuram Finance (MANAPPURAM.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $3.23B, the 274th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹325.40 on 6 Nov 2026.
Performance Over six months the shares gained 2.9%, against -9.1% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 4.9% over the last twelve months (peer median +9.0%); the operating margin is 30.3% (peer median 30.0%).
Valuation It trades at 1.90× book value against a peer median of 1.42× (6th most expensive of 21).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹103B | ₹94.4B | ₹100B | ₹88.8B | ₹66.7B |
| Revenue growth | — | -6% | +13% | +33% | — |
| Gross profit | ₹57.2B | ₹89.6B | ₹95.9B | ₹85.8B | ₹64.4B |
| EBITDA | ₹34.3B | ₹68.6B | ₹74.6B | ₹66.9B | ₹47.8B |
| Net income | ₹14.5B | ₹10.0B | ₹12.2B | ₹21.9B | ₹15.0B |
| Free cash flow | n/a | ₹32.2B | ₹23.9B | ₹30.1B | ₹23.4B |
| Capital expenditure | n/a | ₹2.00B | ₹1.96B | ₹1.36B | ₹1.73B |
| Total debt | n/a | ₹578B | ₹361B | ₹343B | ₹292B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Manappuram Finance MANAPPURAM.NS | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% |
| Muthoot Finance MUTHOOTFIN.NS | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% |
| IIFL Finance IIFL.NS | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% |
| CreditAccess Grameen CREDITACC.NS | $1.84B | -27% | +17% | 20% | 1.95× | 20.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MANAPPURAM.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +1.4% | 7th highest of 21 |
| 6-month return | +2.9% | -9.1% | 8th highest of 21 |
| Return on equity | 7.0% | 14.0% | 3rd lowest of 21 |
| Price / book | 1.90× | 1.42× | 6th most expensive of 21 |
| Trailing P/E | 20.0× | 10.5× | 2nd most expensive of 19 |
| ROE the price implies | 33.0% | 13.5% | 3rd most demanding of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Manappuram Finance MANAPPURAM.NS | India | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% | n/a |
| Samsung Card 029780.KS | South Korea | $3.30B | -21% | +11% | 7% | 0.51× | 4.2% | n/a |
| Indian Renewable Energy Development Agency IREDA.NS | India | $3.31B | -18% | +17% | 14% | 2.18× | 42.4% | 14.4% |
| LIC Housing Finance LICHSGFIN.NS | India | $3.12B | -9% | -1% | 14% | 0.67× | 11.6% | 14.3% |
| SLM SLM | United States | $3.10B | -25% | -6% | 25% | 1.55× | 13.8% | 24.7% |
| Marui 8252.T | Japan | $3.09B | -7% | +8% | 12% | 2.12× | 7.1% | 12.4% |
| Housing & Urban Development HUDCO.NS | India | $3.39B | -30% | +22% | 22% | 1.39× | 31.5% | 21.7% |
| PennyMac Financial Services PFSI | United States | $3.41B | -28% | +4% | 6% | 0.78× | 10.2% | 5.6% |
| Hercules Capital HTGC | United States | $3.06B | 0% | +40% | 16% | 1.32× | 10.4% | 15.7% |
| WillScot WSC | United States | $3.42B | -33% | -3% | -7% | 3.75× | 35.8% | -7.1% |
| McGrath RentCorp MGRC | United States | $3.05B | +9% | +2% | 13% | 2.38× | 13.2% | 12.9% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |
| PNB Housing Finance PNBHOUSING.NS | India | $3.03B | +5% | +11% | 12% | 1.42× | 19.4% | 12.3% |
| Cholamandalam Financial CHOLAHLDNG.NS | India | $2.89B | -17% | +18% | 17% | 1.77× | 26.2% | n/a |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| IIFL Finance IIFL.NS | India | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% | 17.6% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| China Development Bank Financial Leasing 1606.HK | Hong Kong | $2.66B | +4% | -5% | 13% | 0.40× | 4.5% | 12.6% |
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |