The NBFC's revenue from gold loans business stood at Rs 1,856.37 crore (up 20.76% YoY) and revenue from micro finance segment was at Rs 780.77 crore (up 22.60% YoY) during the period under review. Consolidated profit before tax rose 3.46% year on year to Rs 772.55 crore in the quarter ended 30 September 2024. Total expenses in Q2 FY25 was at Rs 1,864.41 crore, registering a growth of 30.62% YoY. Finance costs stood at Rs 905.71 crore (up 31.36% YoY) and impairment of financial instruments came in at Rs 260.42 crore (up 30.77% YoY) during the quarter. On half-yearly basis, the NBFC's consolidated net profit increased 6.73% to Rs 1,125.27 crore on 35.68% jump in total income to Rs 5,749.07 crore in H1 FY25 over H1 FY24. Meanwhile, the company's board declared an interim dividend of Rs 1 per equity share for FY25. The record date for the said dividend is fixed on 18 November 2024 and the dividend will be paid or dispatched on or before 4 December 2024. Manappuram Finance is one of India's leading gold loan NBFCs. Shares of Manappuram Finance fell 1.42% to currently trade at Rs 156.60 on the BSE. Powered by Capital Market - Live

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 5 October 2024, inter alia, have recommended the interim dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Manappuram Finance rose 2.20% to Rs 570.65 crore in the quarter ended September 2024 as against Rs 558.37 crore during the previous quarter ended September 2023. Sales rose 21.86% to Rs 2633.10 crore in the quarter ended September 2024 as against Rs 2160.68 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales2633.102160.68 22 OPM %66.1268.74 - PBDT839.25809.20 4 PBT772.66746.70 3 NP570.65558.37 2 Powered by Capital Market - Live

Magellanic Cloud Ltd, Elecon Engineering Company Ltd, Mahanagar Gas Ltd and Indraprastha Gas Ltd are among the other losers in the BSE's 'A' group today, 18 October 2024.Manappuram Finance Ltd tumbled 13.25% to Rs 153.9 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 38.81 lakh shares were traded on the counter so far as against the average daily volumes of 2.79 lakh shares in the past one month.Magellanic Cloud Ltd lost 12.35% to Rs 82. The stock was the second biggest loser in 'A' group.On the BSE, 15.33 lakh shares were traded on the counter so far as against the average daily volumes of 8.57 lakh shares in the past one month.Elecon Engineering Company Ltd crashed 12.00% to Rs 634.8. The stock was the third biggest loser in 'A' group.On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 40172 shares in the past one month.Mahanagar Gas Ltd corrected 10.51% to Rs 1575.65. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 29170 shares in the past one month.Indraprastha Gas Ltd shed 10.21% to Rs 452.9. The stock was the fifth biggest loser in 'A' group.On the BSE, 4.41 lakh shares were traded on the counter so far as against the average daily volumes of 1.27 lakh shares in the past one month.Powered by Capital Market - Live

On Thursday, the RBI announced that it has prohibited four non-banking financial companies (NBFCs), including Asirvad Micro Finance, from sanctioning or disbursing loans, effective from October 21, 2024. The action was taken due to concerns about the NBFCs' pricing policies, which were found to be excessive and not in adherence with RBI regulations. These concerns included excessive Weighted Average Lending Rates (WALR) and interest spreads, non-adherence to assessment of household income and repayment obligations, deviations in Income Recognition & Asset Classification (IR&AC) norms, and non-compliance with mandated disclosure requirements. In addition to the business restrictions, Asirvad Micro Finance, along with Arohan Financial Services, DMI Finance, and Navi Finserv were also found to be in non-adherence with regulatory guidelines on gold loan portfolios, outsourcing of core financial services, and other areas. The business restrictions will be reviewed upon receipt of confirmation from the NBFCs that they have taken suitable remedial action to adhere to the regulatory guidelines. In response to the feedback received from RBI, Manappuram Finance has taken immediate action to address the identified improvement areas. The matter has been brought to the attention of the board, which has convened an urgent meeting to discuss and implement corrective measures. A detailed plan outlining the corrective actions will be submitted to the RBI within the stipulated timelines. Two foreign brokerage firms have downgraded Manappuram Finance following the RBI action. The first broker downgraded Manappuram Finance stock to Equal Weight (EW) and reduced the target price to Rs 170. The firm believes that the RBI's prohibition on new business activities by Asirvad Micro Finance will significantly impact the company's profits in both the short and long term. As a result, the broker has cut consolidated earnings forecasts by 20% for FY25 and 30% for FY26-27. While the standalone valuation remains attractive, the broker added that it may take some time for investor interest to rebound. The second broker downgraded Manappuram Finance stock to 'Hold', and lowered its target price to Rs 167. The broker noted that the RBI's ban on loan disbursements from Asirvad, which represents 27% of consolidated assets under management (AUM), poses significant challenges for the company's growth. As a result, the broker has revised its earnings per share (EPS) estimates downwards by 11-19% for FY25-27. Despite the potential for share price pressure, the broker believes that the downside is expected to be limited, given the current valuation of 0.9x FY26E book value. Kerala-based Manappuram Finance is a non-banking finance company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The company's board will consider Q2 results on 5 November 2024. Its net profit rose 11.84% to Rs 554.62 crore on 22.11% increase in total income to Rs 2,511.93 crore in Q1 June 2024 over Q1 June 2023. Powered by Capital Market - Live

Manappuram Finance will hold a meeting of the Board of Directors of the Company on 5 November 2024.Powered by Capital Market - Live

Manappuram Finance announced that Fitch Ratings has affirmed India-based Manappuram Finance's (MFIN) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB-'. The Outlook is Stable. Powered by Capital Market - Live

Manappuram Finance has approved the allotment of Secured, Non- Cumulative, Redeemable, Listed, Rated, Non-Convertible Taxable Debentures of face value of Rs.1 lakh each for an amount of Rs. 450 crore on private placement basis on 19 August 2024. Powered by Capital Market - Live

Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 13 August 2024, inter alia, have recommended the interim dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Manappuram Finance has approved the issuance of Secured, Non-Cumulative, Redeemable, Listed, Rated, Non-Convertible Taxable Debentures of face value of Rs. 1,00,000 for an aggregate amount of Rs.600 crore on private placement basis.Powered by Capital Market - Live