Manappuram Finance (531213) Q1 26/27 earnings summary

Executive summary

• Consolidated AUM reached ₹69,635 crore, up 9% QoQ and 57.2% YoY, driven by gold loans, which now constitute 82% of AUM.

• PAT surged to ₹585 crore, up 45% QoQ and 341.4% YoY, with ROE at 14.3% and ROAA at 3.54%.

• Revenue from operations rose to ₹3,034 crore, up 16% QoQ and 34% YoY.

• Strategic priorities include expanding the branch network, enhancing digital capabilities, and strengthening leadership, with Mr. Ashish Singh appointed as MD & CEO effective January 2027.

• Interim dividend of ₹1 per share declared for FY 2026-27.

Financial highlights

• Standalone AUM reached ₹60,971 crore, up 9% QoQ and 70.8% YoY; standalone PAT before OCI was ₹552 crore, up 47% QoQ and 41% YoY.

• Gold loan AUM in standalone business was ₹54,655 crore, up 12% QoQ and 97.4% YoY, constituting 90% of standalone AUM.

• Asirvad Microfinance AUM stood at ₹7,188 crore, up 5.8% QoQ and 7.2% YoY, with PAT of ₹21 crore.

• Consolidated revenue from operations for Q1 FY27 was ₹3,034.16 crore, up from ₹2,200.57 crore in Q1 FY26.

• EPS increased 287.3% YoY to ₹24.4.

Outlook and guidance

• Gold loan yield expected to remain around 18%, with a growth target of 25%-30% for FY 2027.

• Branch expansion plan targets 500 new branches in FY 2027, focusing on underrepresented regions.

• Enhanced borrowing limits and ongoing capital raising initiatives signal a focus on business growth and asset book expansion.

• Microfinance portfolio to be contained below 10% of consolidated AUM, with focus on asset quality.

• No new vehicle loans to be disbursed in FY 2027; reassessment planned for FY 2028.