Financial Results
Awaiting price reaction for this filing.
Manappuram Finance announced audited consolidated results for Q4 and FY ended March 31, 2025. Consolidated total income rose about 13% YoY to Rs 10,074.94 crore, while profit before tax fell sharply to Rs 1,665.63 crore from Rs 2,959.51 crore last year, largely because the Micro Finance subsidiary Asirvad swung to a segment loss of Rs 811.01 crore (vs a profit of Rs 627.54 crore in FY24). Consolidated profit attributable to owners was broadly flat at around Rs 1,216 crore, while standalone PAT was healthier at Rs 1,743.25 crore. The Board declared an interim dividend of Rs 0.50 (25%) per share with record date May 15, 2025, approved an investment of up to Rs 500 crore in Asirvad Micro Finance via preference shares, and revised remuneration of the MD and Executive Director. Auditors issued an unmodified opinion but flagged two Emphasis of Matter items: a Rs 19.78 crore embezzlement at subsidiary Manappuram Comptech, and the RBI cease-and-desist order on Asirvad (which has since been lifted in January 2025).
The gold loan core business is holding up well, but heavy stress in the microfinance arm is dragging consolidated earnings and may continue to weigh on the stock until Asirvad's recovery is visible. The small interim dividend, Rs 500 crore preference-share infusion into Asirvad, and auditor emphasis on past issues are modest negatives for sentiment, though the lifting of RBI curbs is a positive.