Lends to vehicle buyers and small businesses, primarily financing two-wheelers which made up 84.5% of the loan book at end-FY26, with growing exposure to three-wheelers, used cars and MSME loans against property. Operates 130 branches across 6 states with 1,500+ dealer points and a live customer base of over 2.20 lakh; AUM stood at ₹1,713 crore at end-FY26, up 29% YoY, with management targeting ₹2,300–2,400 crore by FY27. Earns mainly through interest on its loan book — FY26 net interest income was ₹162 crore (+24% YoY) at a net interest margin of 13.63% and a gross yield of 22.85%. The spread between this lending yield and a cost of borrowing of 10.64% (incremental 10.50%) is the core earnings lever. Largest operating cost line is employee expense at 18.1% of revenue, followed by other operating expenses at 8.5%. About 95% of AUM is secured, asset quality is contained with GNPA at 3.33% and credit cost around 1%, and the lender is diversifying into newer products like battery-replacement financing for electric three-wheelers and expanding geographically into South India via a partnership with Sreesastha. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Two-wheeler financing (85%), Three-wheeler financing, Used car loans, MSME loan against property, Top-up and used two-wheeler loans, Battery replacement financing (e-3W). Retail vehicle-financing NBFC, two-wheeler-heavy and shifting gradually toward a more diversified secured book including MSME LAP and three-wheelers.
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 250 | 328 |
| EBITDA (ex other income) | 162 | 216 |
| margin % | 64.9 | 65.9 |
| Owners' profit | 38 | 45 |
| EPS, as reported (₹) | 7.52 | 9.03 |
| ROE % · ROCE % | 10.2 · — | 11.1 · — |
| Debt / equity (x) | 0.00 | 0.00 |
| Cash from operations | (324) | (378) |
| Capex | (3) | (1) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 65 | 69 | 68 | 67 | 78 | 90 | 93 | 93 |
| Profit before tax | 16 | 16 | 11 | 12 | 15 | 17 | 17 | 16 |
| Net profit | 12 | 13 | 8 | 10 | 11 | 13 | 11 | 13 |
| EPS (₹) | 2.32 | 2.58 | 1.60 | 1.94 | 2.27 | 2.60 | 2.21 | 2.64 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Trading window closed from Sept 4 till 48 hours after board meeting on Sept 22 | compliance | minimal | — | — |
| 4 Sept 2026 · Board meeting on Sep 22 for share capital hike and preferential allotment | corporate actions | medium | — | — |
| 3 Sept 2026 · Letter to shareholders about FY26 Annual Report and 30th AGM details | compliance | minimal | — | — |
| 2 Sept 2026 · AGM notice published in newspapers, meeting on September 26, 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Manba Finance 30th AGM on Sep 26, 2026; final dividend of Re 0.25 per share | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Manba Finance files FY2025-26 Annual Report; 30th AGM on Sep 26, 2026 | board shareholder meetings | medium | — | — |
| 1 Sept 2026 · Manba Finance publishes notice of 30th AGM in newspapers | compliance | minimal | — | — |
| 31 Aug 2026 · Record date fixed for FY26 final dividend entitlement | corporate actions | high | — | — |
| 31 Aug 2026 · Board approves 0.25 rupee final dividend, AGM on September 26 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Manba Finance allots Rs 90 crore of 10.60% secured debentures | fund raising | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MUTHOOT FINANCE LIMITED |
| 1,12,094 |
| 9.9 |
| 2.82 |
| 3.9 |
| 26.7 |
| — |
| 22.0 |
| 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.7 | 18.2 | 86 of 212 | 60% |
| P/B | 1.6 | 1.1 | 152 of 245 | 38% |
| ROE | 11.1 | 3.0 | 49 of 266 | 82% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 65.7 | 48.6 | 98 of 249 | 61% |
| Revenue growth | 38.2 | 12.6 | 76 of 231 | 67% |
| Profit growth | 36.0 | 7.8 | 95 of 251 | 62% |
| Market cap | 668 | 37 | 42 of 260 | 84% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
