Reviewed and amended Manappuram Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
Awaiting price reaction for this filing.
Manappuram Finance's board approved audited consolidated financial results for Q4 and FY ended March 31, 2025. Consolidated total income for FY25 rose to Rs. 10,074.94 crores (from Rs. 8,920.09 crores), but profit before tax fell sharply to Rs. 1,665.63 crores (from Rs. 2,959.51 crores), dragged by losses in the Microfinance segment of Rs. (811.01) crores, while Gold Loan remained profitable at Rs. 2,476.64 crores. The board declared an interim dividend of Rs. 0.50 per share (25%) with record date May 15, 2025. It also approved investing up to Rs. 500 crores in subsidiary Asirvad Micro Finance via compulsorily convertible preference shares, appointed M/s. KSR & Co as Secretarial Auditors for 5 years, and revised remuneration of MD and Executive Director. Joint auditors issued an unmodified opinion, noting an embezzlement of Rs. 19.78 crores at subsidiary MACOM and confirming that RBI business restrictions on Asirvad (imposed Oct 2024) were lifted in January 2025.
Mixed signals for shareholders: dividend is modest but signals confidence, while sharp profit decline reflects Microfinance stress that has since seen RBI curbs lifted. The Rs. 500 crore top-up into Asirvad supports the subsidiary's recovery, and the AA+ credit rating with clean audit opinion are positives, but profitability headwinds may weigh on near-term stock sentiment.