Manappuram Finance Ltd (NSE: MANAPPURAM) is gaining investor interest as it expands its gold loan portfolio, strengthens its microfinance segment, and adopts digital lending initiatives. Investors now ask: Is Manappuram a good long-term investment? and What are the Manappuram share price targets for 2026–2030?
This section covers Manappuram’s business fundamentals, growth drivers, risks, valuation outlook, and future performance expectations, along with clear Manappuram share price targets for 2026–2030. It also highlights key factors to track as the company focuses on secured lending growth and navigates regulatory changes in the NBFC sector.
Table of Contents
- Manappuram Finance Ltd (NSE: MANAPPURAM) – Company Overview
- Manappuram Share Price Today
- Manappuram Investment Calculator
- Manappuram Share Price Target 2026
- Manappuram Share Price Target 2027
- Manappuram Share Price Target 2028
- Manappuram Share Price Target 2029
- Manappuram Share Price Target 2030
- Should You Buy Manappuram Stock?
- Manappuram Annual Earnings Results
- Key Valuation Metrics – Manappuram
- Manappuram – Peer Comparison
- Is Manappuram a Good Buy for Long Term?
- Final Verdict – Manappuram Finance
- FAQs – Manappuram Finance
1. Manappuram Finance Ltd (NSE: MANAPPURAM) – Company Overview
Manappuram Finance Ltd is a leading Non-Banking Financial Company (NBFC), offering a broad range of fund-based and fee-based financial services, including gold loans, microfinance, housing finance, and loans against property. The company operates across key segments such as gold loans, microfinance, vehicle and equipment finance, MSME loans, and other secured lending solutions.
Supported by a diversified loan portfolio, robust capital adequacy, and a widespread branch network, along with ongoing digital initiatives like Online Gold Loan services, Manappuram Finance is strengthening its presence while improving long-term business visibility.
Investors can track real-time stock updates and corporate filings on BSE and NSE India. The stock remains in focus due to its strong growth in assets under management, consistent dividend payout, and active participation in the gold loan and microfinance markets.
2. Manappuram Finance Share Price (BSE: 531213) Today
3. Manappuram Finance Investment Calculator
₹0.00 Present Value: ₹0.00 Total Interest: ₹0.00 Future Value: ₹0.00Investment Calculator
9. Should You Buy Manappuram Finance Stock?
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2026 | 305 | 345 | 370 |
| 2027 | 400 | 435 | 470 |
| 2028 | 440 | 475 | 510 |
| 2029 | 470 | 505 | 540 |
| 2030 | 520 | 560 | 600 |
- Manappuram Finance has a strong franchise in gold loans and a growing microfinance business.
- Capital adequacy and asset quality have improved, though leverage remains high.
- Regulatory actions in the microfinance segment remain a near-term risk.
- Competition from banks, NBFCs, and fintechs could pressure margins.
- The stock may suit long-term investors comfortable with sector volatility.
Valuation Snapshot: At a current price of ₹315, Manappuram Finance trades at a P/E of 59.3 and a P/BV of 2.09, above the industry average P/E of 22.4. The valuation reflects recent strong returns but also factors in regulatory and leverage-related risks.
Valuation Methodology Used: Targets are derived using forward P/E and P/BV multiples, assuming earnings growth of 10–12% CAGR, stable asset quality, and conservative sector valuation benchmarks.
10. Manappuram Finance Ltd – Annual Earnings
The table below shows key consolidated financials of Manappuram Finance Ltd for the last five fiscal years.
Source: Company filings, BSE/NSE disclosures & investor presentations.
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue / Sales (₹ Crore) | 6,375 | 6,570 | 6,820 | 7,210 | 7,650 | 7,900 |
| Other Income (₹ Crore) | 120 | 135 | 140 | 155 | 160 | 165 |
| EBITDA (₹ Crore) | 2,900 | 2,850 | 2,800 | 2,950 | 3,050 | 3,100 |
| EBITDA Margin % | 45.5 | 43.4 | 41.0 | 40.9 | 39.9 | 39.2 |
| Net Profit / PAT (₹ Crore) | 1,480 | 1,305 | 1,120 | 1,025 | 1,050 | 1,060 |
| Net Profit Margin % | 23.2 | 19.9 | 16.4 | 14.2 | 13.7 | 13.4 |
- Revenue has grown moderately over the last five years, supported by expansion in gold and microfinance segments.
- EBITDA margins have gradually declined, reflecting increased competition and higher borrowing costs.
- Net profit has seen a downward trend, mainly due to margin pressure and regulatory changes in the microfinance business.
- Profitability ratios remain stable but below historical highs, with net profit margin at 13.4% (TTM).
- Other income remains a small contributor to overall earnings.
Financial Snapshot: Manappuram Finance Ltd has maintained steady revenue growth, though profit margins have moderated in recent years due to sector headwinds and regulatory actions. The company continues to focus on its core gold loan business while managing risks in its microfinance portfolio.
11. Manappuram Finance Ltd – Key Valuation Metrics
Key valuation and profitability ratios showing Manappuram Finance Ltd’s financial strength, pricing, and risk profile, relevant to investors and traders.
| Metric | Value |
|---|---|
| TTM P/E Ratio | 59.3 |
| P/B Ratio | 2.09 |
| ROCE | 11.0% |
| ROE | 10.1% |
| Debt-to-Equity | 3.02 |
| Industry P/E | 22.4 |
| Industry P/B | 1.92 |
| Market Cap | ₹26,643 Cr. |
| EPS (TTM) | ₹5.31 |
12. Manappuram Finance Ltd – Key Peers & Comparison
Focused comparison of Manappuram Finance Ltd with its closest industry peers based on valuation and profitability metrics.
| Company | P/E | Market Cap (₹ Cr) | Qtr Profit (₹ Cr) | Qtr Sales (₹ Cr) | ROCE % |
|---|---|---|---|---|---|
| Muthoot Finance | 15.8 | 63,500 | 1,050 | 3,300 | 13.2 |
| Bajaj Finance | 32.5 | 4,70,000 | 3,850 | 11,800 | 12.8 |
| Manappuram Finance Ltd | 59.3 | 26,643 | 246 | 1,950 | 11.0 |
12. Is Manappuram Finance a Good Buy for Long Term?
Assessing Manappuram Finance Ltd’s market position, financial performance, and long-term investment potential for both traders and investors.
Bull Case: Why Manappuram Finance Could Be a Compelling Pick
- Strong position as the second-largest gold loan NBFC in India, with a large and growing customer base.
- Diversified business model with significant contributions from microfinance, MSME, and vehicle finance segments.
- Consistent growth in assets under management (AUM), reflecting scalability and branch network expansion.
- Healthy capital adequacy ratios and improved asset quality in gold loan segment over recent years.
- Early adoption of digital initiatives like Online Gold Loan (OGL), driving operational efficiency and customer convenience.
Bear Case: Potential Risks for Manappuram Finance
- High debt-to-equity ratio (3.02) and negative free cash flow over the last three years may impact financial flexibility.
- Recent RBI restrictions on the microfinance arm could affect near-term growth and profitability in that segment.
- Net profit margins and return ratios (ROE, ROCE) are moderate compared to industry leaders.
- Exposure to regulatory and compliance risks, as seen in past enforcement actions and sector-wide scrutiny.
- Competitive pressure from banks and other NBFCs in gold loans and microfinance could impact market share and margins.
Verdict:
Manappuram Finance offers a mix of growth potential and sectoral risks. While its leadership in gold loans, digital initiatives, and diversified lending provide a solid foundation, investors should be mindful of regulatory challenges, leverage, and competition. Long-term prospects depend on prudent risk management and sustained improvement in asset quality.
13. Final Verdict – Manappuram Finance Ltd
Balanced growth with sector-specific risks.
Manappuram Finance has demonstrated resilience through its strong gold loan franchise and expansion into microfinance and MSME lending. However, high leverage, regulatory actions, and moderate profitability metrics require cautious monitoring. Investors should consider the company’s ability to manage risks and adapt to regulatory changes before making long-term commitments.
Best for: Investors seeking exposure to the NBFC sector with a focus on gold-backed lending, and those comfortable with moderate risk and regulatory oversight.
14. FAQs on Manappuram Finance Ltd
Q1. What does Manappuram Finance Ltd do?
Manappuram Finance is a non-banking finance company (NBFC) specializing in gold loans, microfinance, MSME loans, and vehicle finance, with a strong presence across India.
Q2. Is Manappuram Finance a fundamentally strong company?
The company has a large customer base, diversified lending portfolio, and healthy capital adequacy, but faces challenges like high leverage and moderate return ratios.
Q3. What are the key risks for Manappuram Finance investors?
Key risks include regulatory actions, high debt-to-equity ratio, competition from banks and NBFCs, and exposure to economic cycles affecting asset quality.
Q4. How has Manappuram Finance performed in recent years?
The stock delivered a 69% return over one year and 42.7% over three years, supported by growth in AUM and branch network expansion.
Q5. What is the impact of RBI restrictions on Manappuram Finance?
The RBI has temporarily barred its microfinance arm from disbursing new loans, which may affect short-term growth in that segment until compliance issues are resolved.
Q6. How does Manappuram Finance compare with other NBFCs?
It is the second-largest gold loan NBFC in India, but its profitability and leverage metrics are less favorable than some peers in the sector.
Q7. What is the current valuation of Manappuram Finance?
The stock trades at a P/E of 59.3 and a price-to-book value of 2.09, which is higher than the industry average P/E of 22.4.
Q8. Does Manappuram Finance pay dividends?
Yes, the company has maintained a healthy dividend payout, with a current dividend yield of 1.11%.
Q9. What is the promoter holding in Manappuram Finance?
Promoters hold 35.2% of the company’s shares as per the latest available data.
Q10. Is Manappuram Finance suitable for long-term investment?
It may suit investors seeking NBFC exposure with a focus on gold loans, but requires careful monitoring of regulatory developments and financial leverage.
Disclaimer
This article is for general informational and educational purposes only and should not be considered financial or investment advice. Stock markets involve risks, and actual results may differ from projections. Always conduct your own research or consult a licensed financial professional before making investment decisions. ChartMyWealth.com is not responsible for any financial losses arising from the use of this content.
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