Manappuram Finance Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2025
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Manappuram Finance held its 33rd AGM on August 14, 2025, and shareholders approved all 7 resolutions with the required majority, including the FY25 financial statements, a new ESOP 2025 scheme, re-appointment of an Independent Director, and revision in remuneration for Executive Director Dr. Sumitha Nandan. Management reported FY25 consolidated AUM at ₹43,034 crore (up 2.3% YoY) but net profit fell 45% to ₹1,204 crore, dragged down by severe microfinance stress at subsidiary Asirvad (AUM down 34.5% to ₹7,207 crore, Q4 loss of ₹626 crore). Gold loan business continued to anchor the company, growing 19% and contributing 84% of consolidated revenue, with 82% of gold loan disbursements now sourced digitally. Key strategic updates included the pending Bain Capital joint-control acquisition (approvals from CCI, IRDA, BSE, NSE received; final nods awaited), the appointment of Mr. Deepak Reddy as new CEO effective August 1, 2025, and the exit of Chairman Dr. Shailesh J. Mehta after completing his statutory term. The meeting ran from 11:00 AM to 1:20 PM and e-voting results will be filed separately.
Shareholder approval of all resolutions, including the ESOP 2025 scheme and Bain Capital-linked governance changes, signals institutional confidence despite the sharp profit decline. Investors will likely focus on the timing of Bain Capital's final approval and capital infusion, which could strengthen the balance sheet and support recovery in the stressed microfinance segment.