Manappuram Finance (531213) Q4 24/25 earnings summary

Executive summary

• Consolidated revenue for FY25 reached INR 10,041 crore, up 12.5% YoY, with a full-year profit of INR 1,204 crore and a Q4 loss of INR 203 crore due to microfinance subsidiary losses.

• Second largest gold loan lender in India, with over 5,000 branches and 50,000+ employees, focusing on under-banked customers and leveraging technology.

• Diversified loan portfolio includes gold loans, microfinance, housing finance, vehicle and equipment finance, and MSME loans.

• Audited standalone and consolidated financial results for Q4 and FY25 were approved, with an unmodified audit opinion from statutory auditors.

• Interim dividend of Rs. 0.50 per equity share declared, with record date set as May 15, 2025.

Financial highlights

• Consolidated AUM at ₹43,034 crore, up 2.3% YoY; gold loan AUM at ₹25,586 crore, up 18.7% YoY; microfinance AUM at ₹7,207 crore, down 34.1% YoY.

• Consolidated PAT for FY25 at ₹1,204 crore, down 45.2% YoY; standalone PAT at ₹1,783 crore, up 7.6% YoY.

• Net interest income for FY25 at ₹6,466 crore, up 8.1% YoY; OPEX up 14.1% YoY.

• Asirvad Microfinance posted a Q4 loss of INR 626 crore, with AUM down 18.2% sequentially and 31.1% YoY.

• Interim dividends declared twice during FY25; paid-up equity share capital at Rs. 169.29 crore.

Outlook and guidance

• Gold Loan AUM expected to grow over 20% in FY26, with overall consolidated AUM growth also targeted at 20%.

• Focus remains on secured lending, aiming for 90% of the book in secured assets; MFI portfolio share projected to decline to around 10% of consolidated AUM by year-end.

• Continued focus on technology, risk management, and operational efficiency.

• RBI restrictions on subsidiary Asirvad Micro Finance Limited, imposed in October 2024, were lifted in January 2025 after compliance.