Manba Finance Limited has informed the Exchange about Transcript
MANBA · price
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Manba Finance, a two-wheeler-focused NBFC operating in 6 states with 76 branches and 1,250+ dealers, reported a strong Q1 FY26. AUM grew 43% YoY to ₹1,415 crore, disbursements rose 27% YoY to ₹165 crore, net interest income grew 38% to ₹31 crore, and PAT jumped 89% YoY to ₹10 crore. NIM held steady at 12.43%, GNPA at 3.47% and capital adequacy remained strong at 28.21%. Management reiterated a 30-35% AUM growth target annually, guided PAT to reach ₹85-100 crore by FY27, and flagged NIM staying around 12.5%. The company recently qualified as a mid-layer RBI NBFC, stopped new Muthoot co-lending disbursements from May 1, and is exploring ECB funding and a NCD debt IPO while expecting an A- rating upgrade this month.
Strong execution on growth, margins, and asset quality supports the stock narrative, with clear multi-year profit targets providing visibility. However, lower LTV and yield reductions to manage credit risk, plus rising finance costs, signal that incremental growth may come at modestly thinner spreads going forward.