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Manappuram Finance Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹278.17Fairly Valued by 8.80%vs CMP ₹305.00

P/E (25.7) × ROE (7.0%) × BV (₹190.00) × DY (1.15%)

₹145.73Overvalued by 52.22%vs CMP ₹305.00
MoS: -109.3% (Negative)Confidence: 59/100 (Moderate)Models: 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹219.6623%Over (-28%)
Graham NumberEarnings₹143.5517%Over (-52.9%)
Earnings PowerEarnings₹154.2614%Over (-49.4%)
DCFCash Flow₹44.8614%Over (-85.3%)
Net Asset ValueAssets₹150.187%Over (-50.8%)
EV/EBITDAEnterprise₹25.249%Over (-91.7%)
Earnings YieldEarnings₹48.207%Over (-84.2%)
ROCE CapitalReturns₹298.249%Fair (-2.2%)
Consensus (8 models)₹145.73100%Overvalued
Key Drivers: EPS CAGR -21.0% drags value — could be higher if earnings stabilize. | Wide model spread (₹25–₹298) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -21.0%

*Investments are subject to market risks

Analyst Summary

Enviro Infra Engineers Ltd operates in the Finance & Investments segment, NSE: MANAPPURAM | BSE: 531213, current market price is ₹305.00, market cap is 25,816 Cr.. At a glance, stock P/E is 25.7, ROE is 7.04 %, ROCE is 8.26 %, book value is 190, dividend yield is 1.15 %. The latest intrinsic value estimate is ₹145.73, around 52.2% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹10,007 Cr versus the prior period change of 13.1%, while latest net profit is about ₹1,204 Cr with a prior-period change of -45.2%. The 52-week range shown on this page is 322/224, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisManappuram 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 L65…

This summary is generated from the stock page data available for Manappuram Finance Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

54
Manappuram Finance Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 8.3% AverageROE 7.0% AverageD/E 3.11 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.35% (6mo) Slight increaseDII holding up 3.16% MF buyingPromoter holding at 35.3% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum40/100 · Moderate
Profit (4Q): -80% YoY Declining
Industry Rank55/100 · Moderate
P/E 25.7 vs industry 183.6 Cheaper than peersROCE 8.3% vs industry 10.4% AverageROE 7.0% vs industry 24.3% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:35 am

Market Cap 25,816 Cr.
Current Price 305
Intrinsic Value₹145.73
High / Low 322/224
Stock P/E25.7
Book Value 190
Dividend Yield1.15 %
ROCE8.26 %
ROE7.04 %
Face Value 2.00
PEG Ratio-1.22

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

View Share Price Target for Manappuram Finance Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Manappuram Finance Ltd 25,816 Cr. 305 322/22425.7 1901.15 %8.26 %7.04 % 2.00
Piramal Enterprises Ltd 25,483 Cr. 1,124 1,356/95049.0 1,2020.98 %6.78 %1.63 % 2.00
Angel One Ltd 28,028 Cr. 308 330/20930.6 67.21.56 %14.8 %15.6 % 1.00
Cholamandalam Financial Holdings Ltd 31,401 Cr. 1,673 2,299/1,30513.3 7280.08 %10.6 %19.1 % 1.00
IIFL Finance Ltd 19,521 Cr. 459 675/33711.8 3270.87 %10.8 %12.6 % 2.00
Industry Average19,136.33 Cr1,281.65183.603,403.850.43%10.44%24.30%6.58

All Competitor Stocks of Manappuram Finance Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue1,7151,7762,0302,1612,3052,3482,4882,6332,5602,3272,2622,2732,353
Interest 566589648689749779848906925862855876945
Expenses 5755876716757297738468921,1911,6381,2331,0181,034
Financing Profit574600710796827796793835444-172174380374
Financing Margin %33%34%35%37%36%34%32%32%17%-7%8%17%16%
Other Income 19232713211424433326
Depreciation 53565662626564677066757977
Profit before tax 541567681747786746753773376-236102302303
Tax % 27%27%27%25%27%24%26%26%26%-14%-30%28%21%
Net Profit 393415498561575564557572278-203132217239
EPS in Rs 4.634.885.866.606.776.636.556.743.33-2.261.632.602.85
Gross NPA %
Net NPA %

Last Updated: February 5, 2026, 2:05 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue2,1001,9882,3693,4063,4214,1805,4656,3316,0616,6848,84810,0079,216
Interest 1,0278779471,1691,0301,3451,8322,2192,0112,1882,8663,5413,538
Expenses 6786488201,0111,3441,3651,5471,6692,1332,3172,8484,5674,923
Financing Profit3964626011,2251,0471,4692,0862,4431,9162,1793,1341,899755
Financing Margin %19%23%25%36%31%35%38%39%32%33%35%19%8%
Other Income 11533586386446566723413
Depreciation 645456636875164171198204246267297
Profit before tax 3434145481,1661,0371,4572,0072,3161,7842,0412,9601,666470
Tax % 34%34%35%35%35%35%26%26%26%26%26%28%
Net Profit 2262713557586769491,4801,7251,3291,5002,1971,204385
EPS in Rs 2.693.234.208.988.0411.1617.3720.3715.7017.6725.8614.374.82
Dividend Payout % 67%42%54%17%25%19%16%10%19%17%13%28%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)19.91%31.00%113.52%-10.82%40.38%55.95%16.55%-22.96%12.87%46.47%-45.20%
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%-91.66%

Manappuram Finance Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: February 1, 2026, 1:02 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 168168168168169169169169169169169169169
Reserves 2,3242,4652,5903,1933,6454,3785,5777,1388,1999,47611,37912,26312,543
Borrowing7,7958,6329,63810,98612,60715,29723,02223,32724,81629,16734,32036,07738,366
Other Liabilities 551352443804609602767703623693880696578
Total Liabilities 10,83811,61612,83915,15217,03020,44629,53531,33833,80839,50446,74849,20551,657
Fixed Assets 2022062302223103678039261,0521,0941,0701,1341,117
CWIP 510101381317331113
Investments 7962174955174903384215347267881,239
Other Assets 9,83611,19312,56014,92516,71519,90428,63930,06632,32237,86044,91847,27249,288
Total Assets 10,83811,61612,83915,15217,03020,44629,53531,33833,80839,50446,74849,20551,657

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + -888-1,042-1,271-33-1,661-3,620-619-423-3,103-3,450-467-20,238
Cash from Investing Activity + 64972-25-148-37126-186-193-616-601-125-1,632
Cash from Financing Activity + 2657721,2112932,3886,049594383,8494,0921,13223,834
Net Cash Flow 26-198-841123562,455-747-177130415411,965
Free Cash Flow -912-1,121-1,324-193-1,787-3,716-672-585-3,275-3,585-662-20,427
CFO/OP -56%-56%-36%17%-40%-81%-0%2%-60%-44%5%-369%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow671.00640.00811.00-9.00-11.00-14.00-22.00-22.00-22.00-27.00-32.00-32.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE % 11%13%25%19%22%28%26%17%17%21%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 35.20%35.20%35.20%35.20%35.20%35.24%35.25%35.25%35.25%35.25%35.25%35.25%
FIIs 30.17%30.73%27.08%28.95%31.99%33.00%30.36%27.01%28.43%29.71%30.16%28.78%
DIIs 13.54%10.65%12.25%12.15%9.50%9.34%10.97%7.88%7.99%8.61%9.17%11.15%
Public 21.11%23.42%25.47%23.69%23.32%22.42%23.41%29.84%28.33%26.41%25.41%24.84%
No. of Shareholders 3,90,4903,70,9933,50,7103,85,1174,37,4884,52,0905,74,7266,66,7036,26,1375,99,5015,65,7945,51,927

Shareholding Pattern Chart

No. of Shareholders

Manappuram Finance Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Flexi Cap Fund 5,962,850 1.42 169.73N/AN/AN/A
SBI Flexicap Fund 4,500,000 0.55 128.09N/AN/AN/A
ICICI Prudential Multicap Fund 4,194,471 0.75 119.42,469,6902026-02-23 05:02:4369.84%
Bandhan Small Cap Fund 3,782,895 0.56 107.683,836,8952026-02-23 03:11:26-1.41%
Tata Arbitrage Fund 3,687,000 0.51 104.954,323,0002026-02-23 05:02:43-14.71%
DSP Small Cap Fund 3,331,650 0.59 94.847,859,9232025-12-08 01:43:27-57.61%
DSP ELSS Tax Saver Fund 3,251,658 0.54 92.56N/AN/AN/A
Mahindra Manulife Multi Cap Fund 3,062,466 1.44 87.172,012,4662026-02-23 00:08:2152.17%
Aditya Birla Sun Life Small Cap Fund 2,931,940 1.75 83.462,731,9402026-02-23 05:02:437.32%
DSP Large & Mid Cap Fund 2,898,677 0.47 82.51N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 14.2225.9617.7215.7020.40
Diluted EPS (Rs.) 14.2225.9617.7215.7020.40
Cash EPS (Rs.) 17.3828.8720.1318.0422.40
Book Value[Excl.RevalReserv]/Share (Rs.) 146.88136.43113.9599.0686.90
Book Value[Incl.RevalReserv]/Share (Rs.) 146.88136.43113.9599.0686.90
Revenue From Operations / Share (Rs.) 118.22104.5378.9771.6174.80
PBDIT / Share (Rs.) 64.6771.7352.3747.1755.60
PBIT / Share (Rs.) 61.5168.8249.9644.8453.58
PBT / Share (Rs.) 19.6834.9624.1121.0727.36
Net Profit / Share (Rs.) 14.2225.9617.7215.7020.38
NP After MI And SOA / Share (Rs.) 14.3725.8617.6715.7020.37
PBDIT Margin (%) 54.7068.6266.3165.8774.33
PBIT Margin (%) 52.0365.8363.2662.6171.63
PBT Margin (%) 16.6433.4430.5329.4236.58
Net Profit Margin (%) 12.0324.8322.4421.9227.24
NP After MI And SOA Margin (%) 12.1524.7322.3821.9127.23
Return on Networth / Equity (%) 9.7818.9515.5115.8723.59
Return on Capital Employeed (%) 41.3149.0925.5320.8323.83
Return On Assets (%) 2.474.683.783.925.50
Long Term Debt / Equity (X) 0.000.000.691.151.57
Total Debt / Equity (X) 2.852.912.952.883.11
Asset Turnover Ratio (%) 0.200.200.180.150.18
Current Ratio (X) 1.301.301.662.082.45
Quick Ratio (X) 1.301.301.662.082.45
Dividend Payout Ratio (NP) (%) 27.8313.4417.5119.116.13
Dividend Payout Ratio (CP) (%) 22.8212.0815.4116.635.58
Earning Retention Ratio (%) 72.1786.5682.4980.8993.87
Cash Earning Retention Ratio (%) 77.1887.9284.5983.3794.42
Interest Coverage Ratio (X) 1.552.122.031.992.12
Interest Coverage Ratio (Post Tax) (X) 1.341.771.691.661.78
Enterprise Value (Cr.) 51314.1745148.6535942.3231052.2832474.57
EV / Net Operating Revenue (X) 5.135.105.385.125.13
EV / EBITDA (X) 9.377.448.117.786.90
MarketCap / Net Operating Revenue (X) 1.971.661.571.591.99
Retention Ratios (%) 72.1686.5582.4880.8893.86
Price / BV (X) 1.581.271.091.151.73
Price / Net Operating Revenue (X) 1.971.661.571.591.99
EarningsYield 0.060.140.140.130.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 Other financial service activities, except insurance and pension funding activities. Company's Total Operating Revenue is Rs. 6906.37 Cr. and Equity Capital is Rs. 169.29 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)W-4/638 A, Manappuram House, Valapad P.O, Thrissur Kerala 680567Contact not found
Management
NamePosition Held
Dr. Shailesh Jayantilal MehtaChairman(NonExe.&Ind.Director)
Mr. V P NandakumarManaging Director & CEO
Dr. Sumitha NandanExecutive Director
Mr. E K Bharat BhushanInd. Non-Executive Director
Dr. Sankaran Nair RajagopalInd. Non-Executive Director
Ms. Pratima RamInd. Non-Executive Director
Mr. Abhijit SenInd. Non-Executive Director
Mr. V P SeemanthiniInd. Non-Executive Director
Mr. Harshan KollaraInd. Non-Executive Director
Mr. T C Suseel KumarInd. Non-Executive Director

FAQ

What is the intrinsic value of Manappuram Finance Ltd and is it undervalued?

As of 05 May 2026, Manappuram Finance Ltd's intrinsic value is ₹145.73, which is 52.22% lower than the current market price of ₹305.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.04 %), book value (₹190), dividend yield (1.15 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Manappuram Finance Ltd?

Manappuram Finance Ltd is trading at ₹305.00 as of 05 May 2026, with a FY2026-2027 high of ₹322 and low of ₹224. The stock is currently near its 52-week high. Market cap stands at ₹25,816 Cr..

How does Manappuram Finance Ltd's P/E ratio compare to its industry?

Manappuram Finance Ltd has a P/E ratio of 25.7, which is below the industry average of 183.60. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Manappuram Finance Ltd financially healthy?

Key indicators for Manappuram Finance Ltd: ROCE of 8.26 % is on the lower side compared to the industry average of 10.44%; ROE of 7.04 % is below ideal levels (industry average: 24.30%). Dividend yield is 1.15 %.

Is Manappuram Finance Ltd profitable and how is the profit trend?

Manappuram Finance Ltd reported a net profit of ₹1,204 Cr in Mar 2025 on revenue of ₹10,007 Cr. Compared to ₹1,329 Cr in Mar 2022, the net profit shows a declining trend.

Does Manappuram Finance Ltd pay dividends?

Manappuram Finance Ltd has a dividend yield of 1.15 % at the current price of ₹305.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 12:35 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531213 | NSE: MANAPPURAM
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
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