VALAPAD (THRISSUR), 18 MAY, 2022 (GPN): Manappuram Finance Limited has reported a consolidated profit after tax (PAT) of Rs. 260.95 crore for the fourth quarter ended March 31, 2022. The performance represents a marginal decline of 0.02 percent in comparison to the PAT of Rs.261.01 crore reported in the preceding third quarter. Profit after tax for the full year stands at Rs 1,328.70 crore. 

The Company’s full year consolidated Assets under Management (AUM) grew by 11.15 percent to Rs. 30,260.82 crore from Rs. 27,224.22 crore reported in the previous fiscal. Operating income for the year stood at Rs. 6,061.02 crore, down by 4.26 percent against Rs. 6,330.55 crore recorded in the previous fiscal. 

The Board of Directors met today to consider the results and approved payment of an interim dividend of Rs. 0.75 per share of the face value of Rs. 2.

Sharing the results with the media, Mr. V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd said: “Over the last fiscal year, we have restored the growth momentum in our microfinance, vehicle finance, and home loans businesses despite the disruptions from the third wave.  At the same time, our core business of gold loans faced certain peculiar challenges arising from the intense price competition among the NBFCs which prevailed for much of the year thereby impacting our margins. However, we see this as a temporary phase as unhealthy competition will benefit no one.” 

The company’s (standalone) gold loans AUM grew by 4.14 percent to reach Rs. 19,867.35 crore. Aggregate gold loan disbursements during the quarter grew by 22.41 per cent to Rs. 29,430 crore from Rs. 24,042 crore in Q3 of FY2022. As of March 31, 2022, the number of live gold loan customers stood at 23.69 Lakhs.

The company’s microfinance subsidiary, Asirvad Microfinance Ltd., reported brisk growth in business ending the year with an AUM of Rs 7,002.18 crore, a jump of 17.00 percent over Rs. 5,984.63 crore reported for the previous fiscal. 

The Vehicle and Equipment Finance division closed the year with an AUM of Rs. 1,643.16 crore, a substantial growth of 56.11 percent over the last fiscal. The company’s home finance subsidiary, Manappuram Home Finance Ltd., ended the year with an AUM of Rs. 845.27 Crore, a growth of 26.87 percent against Rs. 666.27 crore achieved in the previous fiscal. Overall, the non-gold businesses contributed a share of 33 percent to the total loan book of the company. 

The company’s consolidated net worth stood at Rs. 8,368.35 crore as of March 31, 2022. The book value per share is reported at Rs. 98.87. Consolidated earnings per share (EPS) stands at Rs.15.70 while the capital adequacy ratio (standalone) was maintained at a high level of 31.33 percent. 

The net NPA position of the company stood at 2.72 percent, and gross NPA at 2.95 percent, as of March 31, 2022. Average borrowing costs for the standalone entity declined by 162 basis points to 7.50% during the fiscal. On a consolidated basis, the total borrowings of the company stood at Rs. 24,118.48 crore while the total number of live customers stood at 50.92 lakh as of March 31, 2022.

Results at a glance

Consolidated (Rs. in Crore)

Particulars	FY 2021-22	FY 2020-21	YoY % Growth	Q4 FY 2022	Q4 FY 2021	YoY % Growth	Q3 FY 2022	QoQ % Growth
Income from operations	6061.02	6330.55	-4.26%	1481.35	1622.32	-8.69%	1484.45	-0.21%
Profit before tax	1783.52	2316.03	-22.99%	353.94	622.08	-43.10%	348.18	1.65%
Profit after tax (Before OCI & minority interest)	1,328.70	1,724.95	-22.97%	260.95	468.35	-44.28%	261.01	-0.02%
AUM	30,260.82	27,224.22	11.15%	30,260.82	27,224.22	11.15%	30,407.13	-0.48%
Net Worth	8,368.35	7,307.43	14.52%	8368.35	7307.43	14.52%	8160.37	2.55%
Return on Assets (%)	4.1%	5.6%		3.1%	6.0%		3.1%
Return on Equity (%)	16.9%	26.2%		12.6%	26.4%		12.9%
No. of branches	5073	4637	9.40%	5,073	4637	9.40%	5021	1.04%
Total no. of employees	41396	30,522	35.63%	41396	30,522	35.63%	38,539	7.41%
Book value per share	98.87	86.34	14.51%	98.87	86.34	14.51%	96.41	2.55%
Total no. of customers (in mn.)	5.1	5.1	-0.93%	5.1	5.1	-0.93%	5.2	-2.57%
Total borrowing	24,118.48	22,716.26	6.17%	24,118.48	22,716.26	6.17%	24,081.90	0.15%
EPS	15.7	20.4	-23.04%	3.10	5.53	-43.95%	3.08	0.59%

About Manappuram Finance Ltd.

Manappuram Finance Ltd. is one of India’s leading gold loans NBFCs engaged in providing finance against used household gold ornaments. Incorporated in 1992, the company has been promoted by Mr. V.P. Nandakumar (current MD & CEO) whose family has been involved in gold loans since 1949. It is headquartered at Valapad in the Thrissur District of Kerala. The company went public in August 1995 and its shares are listed on the stock exchanges of Mumbai, Chennai, and Kochi. As of March 31, 2022, Manappuram Finance Ltd. had 5,073 branches across 24 states and 4 UTs with Assets under management (AUM) of ₹302.61 billion. The company’s net worth stood at ₹83.68 billion.