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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 531213 | NSE: MANAPPURAM

Manappuram Finance Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:12 am

Market Cap 15,323 Cr.
Current Price 181
High / Low 230/138
Stock P/E6.78
Book Value 148
Dividend Yield1.96 %
ROCE13.8 %
ROE20.6 %
Face Value 2.00
PEG Ratio1.25

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Manappuram Finance Ltd

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
My Money Securities Ltd 76.5 Cr. 45.6 69.2/0.005.90 18.50.00 %12.0 %11.3 % 10.0
ICDS Ltd 81.5 Cr. 62.6 76.2/32.551.3 22.20.00 %9.12 %7.69 % 10.0
HCKK Ventures Ltd 52.8 Cr. 142 154/77.4293 11.50.00 %8.17 %6.44 % 10.0
Ujjivan Financial Services Ltd 7,179 Cr. 590 612/4638.75 2990.59 %10.3 %32.1 % 10.0
SIL Investments Ltd 712 Cr. 671 920/40021.6 2,8110.37 %2.07 %1.51 % 10.0
Industry Average25,788.56 Cr1,051.7945.333,001.120.44%10.51%13.70%8.31

All Competitor Stocks of

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Revenue1,5631,5321,4841,4811,5021,6961,7151,7762,0302,1572,3092,3602,488
Interest493492531495505528566589648689749779848
Expenses451526572584568587575587671675729772846
Financing Profit619514381402429581574600710792831808793
Financing Margin %40%34%26%27%29%34%33%34%35%37%36%34%32%
Other Income102222101181923271718224
Depreciation43415658494653565662626564
Profit before tax586495348354381553541567681747786746753
Tax %26%25%25%26%26%26%27%27%27%25%27%24%26%
Net Profit437370261261282409393415498561575563557
EPS in Rs5.164.373.083.083.334.824.634.885.866.606.776.636.55
Gross NPA %
Net NPA %

Last Updated: October 22, 2024, 12:24 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 22, 2024, 12:24 pm

MonthMar 2009Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Revenue1652,1001,9882,3693,4063,4214,1805,4656,3316,0616,7008,8489,314
Interest391,0278779471,1691,0301,3451,8322,2192,0112,1882,8663,066
Expenses786786488201,0111,3441,3651,5471,6692,1332,3172,8483,023
Financing Profit483964626011,2251,0471,4692,0862,4431,9162,1953,1343,225
Financing Margin %29%19%23%25%36%31%35%38%39%32%33%35%35%
Other Income1115335863864465507261
Depreciation3645456636875164171198204246254
Profit before tax463434145481,1661,0371,4572,0072,3161,7842,0412,9603,031
Tax %35%34%34%35%35%35%35%26%26%26%26%26%
Net Profit302262713557586769491,4801,7251,3291,5002,1972,256
EPS in Rs0.862.693.234.208.988.0411.1617.3720.3715.7017.6725.8626.55
Dividend Payout %15%67%42%54%17%25%19%16%10%19%17%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)19.91%31.00%113.52%-10.82%40.38%55.95%16.55%-22.96%12.87%46.47%
Change in YoY Net Profit Growth (%)0.00%11.08%82.52%-124.34%51.20%15.57%-39.40%-39.51%35.82%33.60%

Manappuram Finance Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:16%
3 Years:12%
TTM:27%
Compounded Profit Growth
10 Years:26%
5 Years:18%
3 Years:8%
TTM:22%
Stock Price CAGR
10 Years:19%
5 Years:1%
3 Years:3%
1 Year:2%
Return on Equity
10 Years:20%
5 Years:21%
3 Years:18%
Last Year:21%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:12 pm

MonthMar 2009Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital17168168168168169169169169169169169169
Reserves1472,3242,4652,5903,1933,6454,3785,5777,1388,1999,47611,37912,359
Borrowings4557,7958,6329,63810,98612,60715,29723,02223,32724,81629,16734,32039,148
Other Liabilities41551352443804609602767703623693880739
Total Liabilities66010,83811,61612,83915,15217,03020,44629,53531,33833,80839,50446,74852,416
Fixed Assets282022062302223103678039261,0521,0941,0701,130
CWIP0510101381317337
Investments1796217495517490338421534726814
Other Assets6319,83611,19312,56014,92516,71519,90428,63930,06632,32237,86044,91850,465
Total Assets66010,83811,61612,83915,15217,03020,44629,53531,33833,80839,50446,74852,416

Reserves and Borrowings Chart

Cash Flow

MonthMar 2009Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-2352,924-888-1,042-1,271-33-1,661-3,620-619-423-3,103-3,383
Cash from Investing Activity +-10264972-25-148-37126-186-193-616-593
Cash from Financing Activity +290-2,9232657721,2112932,3886,049594383,8494,025
Net Cash Flow46426-198-841123562,455-747-17713049

Free Cash Flow

MonthMar 2009Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-377.00671.00640.00811.00-9.00-11.00-14.00-22.00-22.00-22.00-27.00-32.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2009Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %29%11%13%25%19%22%28%26%17%17%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters35.06%35.06%35.15%35.18%35.20%35.20%35.20%35.20%35.20%35.20%35.24%35.25%
FIIs34.81%29.83%28.91%28.36%30.07%30.17%30.73%27.08%28.95%31.99%33.00%30.36%
DIIs14.33%15.80%13.50%12.18%11.57%13.54%10.65%12.25%12.15%9.50%9.34%10.97%
Public15.80%19.31%22.44%24.27%23.16%21.11%23.42%25.47%23.69%23.32%22.42%23.41%
No. of Shareholders2,61,4763,46,5434,06,9374,22,0874,00,3723,90,4903,70,9933,50,7103,85,1174,37,4884,52,0905,74,726

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund7,859,9230.95158.263,162,0002024-12-18148.57%
SBI Arbitrage Opportunities Fund4,914,0000.3298.943,162,0002024-12-1855.41%
Nippon India Arbitrage Fund4,683,0000.6294.293,162,0002024-12-1848.1%
Kotak Equity Arbitrage Fund - Regular Plan3,822,0000.1476.963,162,0002024-12-1820.87%
SBI Flexi Cap Fund3,749,4390.3275.53,162,0002024-12-1818.58%
ICICI Prudential Equity - Arbitrage Fund3,717,0000.3174.843,162,0002024-12-1817.55%
Bandhan Small Cap Fund3,693,8890.8874.383,162,0002024-12-1816.82%
Edelweiss Arbitrage Fund3,162,0000.5263.673,162,0002024-12-180%
Quant Quantamental Fund3,000,0002.2960.413,162,0002024-12-18-5.12%
DSP Arbitrage Fund2,781,0000.91563,162,0002024-12-18-12.05%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)25.9617.7215.7020.4017.54
Diluted EPS (Rs.)25.9617.7215.7020.4017.49
Cash EPS (Rs.)28.8720.1318.0422.4019.46
Book Value[Excl.RevalReserv]/Share (Rs.)136.77114.1999.0686.9068.31
Book Value[Incl.RevalReserv]/Share (Rs.)136.77114.1999.0686.9068.31
Revenue From Operations / Share (Rs.)104.5378.9771.6174.8064.68
PBDIT / Share (Rs.)71.7352.3747.1755.6047.38
PBIT / Share (Rs.)68.8249.9644.8453.5845.44
PBT / Share (Rs.)34.9624.1121.0727.3623.75
Net Profit / Share (Rs.)25.9617.7215.7020.3817.52
NP After MI And SOA / Share (Rs.)25.8617.6715.7020.3717.37
PBDIT Margin (%)68.6266.3165.8774.3373.25
PBIT Margin (%)65.8363.2662.6171.6370.25
PBT Margin (%)33.4430.5329.4236.5836.72
Net Profit Margin (%)24.8322.4421.9227.2427.08
NP After MI And SOA Margin (%)24.7322.3821.9127.2326.85
Return on Networth / Equity (%)18.9515.5115.8723.5925.68
Return on Capital Employeed (%)49.0925.5320.8323.8326.90
Return On Assets (%)4.683.783.925.505.06
Long Term Debt / Equity (X)0.000.691.151.571.41
Total Debt / Equity (X)2.912.952.883.113.82
Asset Turnover Ratio (%)0.200.150.150.180.19
Current Ratio (X)1.301.662.082.451.90
Quick Ratio (X)1.301.662.082.451.90
Dividend Payout Ratio (NP) (%)0.0017.5119.116.1319.48
Dividend Payout Ratio (CP) (%)0.0015.4116.635.5817.52
Earning Retention Ratio (%)0.0082.4980.8993.8780.52
Cash Earning Retention Ratio (%)0.0084.5983.3794.4282.48
Interest Coverage Ratio (X)2.122.031.992.122.19
Interest Coverage Ratio (Post Tax) (X)1.771.691.661.781.81
Enterprise Value (Cr.)45148.9135942.3231052.2832474.5726235.39
EV / Net Operating Revenue (X)5.105.385.125.134.80
EV / EBITDA (X)7.448.117.786.906.55
MarketCap / Net Operating Revenue (X)1.661.571.591.991.46
Retention Ratios (%)0.0082.4880.8893.8680.51
Price / BV (X)1.271.091.151.731.40
Price / Net Operating Revenue (X)1.661.571.591.991.46
EarningsYield0.140.140.130.130.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Manappuram Finance Ltd as of December 22, 2024 is: 210.76

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, Manappuram Finance Ltd is Undervalued by 16.44% compared to the current share price 181.00

Intrinsic Value of Manappuram Finance Ltd as of December 22, 2024 is: 222.23

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, Manappuram Finance Ltd is Undervalued by 22.78% compared to the current share price 181.00

Last 5 Year EPS CAGR: 5.44%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Manappuram Finance Ltd:
    1. Net Profit Margin: 24.83%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 49.09% (Industry Average ROCE: 10.51%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 18.95% (Industry Average ROE: 13.7%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.77
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.3
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 6.78 (Industry average Stock P/E: 45.33)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 2.91
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Manappuram Finance Ltd. is a Public Limited Listed company incorporated on 15/07/1992 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L65910KL1992PLC006623 and registration number is 006623. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company’s Total Operating Revenue is Rs. 4562.80 Cr. and Equity Capital is Rs. 169.28 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)W-4/638 A, Manappuram House, Valapad P.O, Thrissur Kerala 680567cosecretary@manappuram.com
http://www.manappuram.com
Management
NamePosition Held
Mr. Shailesh Jayantilal MehtaChairman(NonExe.&Ind.Director)
Mr. V P NandakumarManaging Director & CEO
Dr. Sumitha NandanExecutive Director
Mr. S R BalasubramanianNon Executive Director
Mr. P ManomohananInd. Non-Executive Director
Mr. V R RamachandranInd. Non-Executive Director
Mr. Harshan KollaraInd. Non-Executive Director
Mr. Abhijit SenInd. Non-Executive Director
Ms. Pratima RamInd. Non-Executive Director
Mr. V P SeemanthiniInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Manappuram Finance Ltd?

The latest intrinsic value of Manappuram Finance Ltd as on 22 December 2024 is ₹210.76, which is 16.44% higher than the current market price of ₹181.00. The stock has a market capitalization of 15,323 Cr. and recorded a high/low of 230/138 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹12,359 Cr and total liabilities of ₹52,416 Cr.

What is the Market Cap of Manappuram Finance Ltd?

The Market Cap of Manappuram Finance Ltd is 15,323 Cr..

What is the current Stock Price of Manappuram Finance Ltd as on 22 December 2024?

The current stock price of Manappuram Finance Ltd as on 22 December 2024 is 181.

What is the High / Low of Manappuram Finance Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Manappuram Finance Ltd stocks is 230/138.

What is the Stock P/E of Manappuram Finance Ltd?

The Stock P/E of Manappuram Finance Ltd is 6.78.

What is the Book Value of Manappuram Finance Ltd?

The Book Value of Manappuram Finance Ltd is 148.

What is the Dividend Yield of Manappuram Finance Ltd?

The Dividend Yield of Manappuram Finance Ltd is 1.96 %.

What is the ROCE of Manappuram Finance Ltd?

The ROCE of Manappuram Finance Ltd is 13.8 %.

What is the ROE of Manappuram Finance Ltd?

The ROE of Manappuram Finance Ltd is 20.6 %.

What is the Face Value of Manappuram Finance Ltd?

The Face Value of Manappuram Finance Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Manappuram Finance Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE