Thursday, 16 May 2019

Manappuram Finance Q4

Manappuram Finance Ltd. declared its results for FY 2018-19 today. The company reported a full year consolidated profit after tax of Rs 919.87 crore, a sharp increase of 36 percent over the previous year.  Consolidated net profit for the fourth quarter ended March 31, 2019 stood at Rs.255.59 crore, compared to Rs.179.05 crore booked in Q4 of the preceding year.

The Company’s operating income for the year stood at Rs. 4,116 crore, up by 20.33 percent over the previous year’s figure of Rs.3,421 crore. Profit before tax (PBT) for the fourth quarter was reported at Rs.380 crore as against Rs.276 crore in the corresponding quarter last year. The PBT for the full year increased by 37.65 percent to Rs.1,427 crore from Rs, 1,037 crore in the previous fiscal.

The Board of Directors, which met at Valapad (Thrissur) today to consider the results, approved payment of interim dividend of Rs. 0.55 per share of face value of Rs. 2/-. Accordingly, total dividend for the year amounts to Rs. 2.20 per share.

Sharing the results with the media, Mr. V.P. Nandakumar, MD & CEO, said: “Overall, this has been a very good year for us. We were able to end the year on a positive note with strong Q4 numbers.
Moreover, our new businesses have started to deliver on their potential, not only growing faster but also contributing meaningfully to profitability. We are now confident we will be able to carry the momentum into the next fiscal.”

The Company’s consolidated Assets under Management (AUM) stood at Rs. 19,438 crore, registering an impressive growth of 23.30 percent compared to Rs. 15,765 crore in the previous year. The growth was led by gold loans which grew by 10.45 percent to reach Rs.12,961.5 crore. This was enabled by growth in gold holding which went up from 64 tonnes to stand at 67.5 tonnes, an increase of 5.5 percent over the year. Aggregate gold loan disbursements during the year went up to Rs. 89,649 crore from Rs.62,155 crore in the previous year. As of March 31, 2019, the number of live gold loan customers stood at 24 lakhs.

The company’s diversification story continued to gain momentum with the contribution of non-gold businesses to overall business rising from 25.5 percent last year to 33.3 percent this year. The growth was led by the microfinance subsidiary, Asirvad Microfinance Pvt. Ltd., which ended the year with an AUM of Rs 3,841 crore, registering a growth of 57.6 percent compared to Rs. 2,437 crore reported in the previous fiscal. Accelerated growth is reported in the other new business segments too.
The Vehicle and Equipment Finance division reported strong growth with AUM at Rs.1,114.6 crore representing a growth of 78.2 percent over the year, and 14.3 percent over the third quarter.
The company’s home finance subsidiary contributed Rs. 519 Crore to the total AUM, as against Rs.375 crore in the previous year.

The company’s consolidated net worth stood at Rs. 4,525 crore as of March 31, 2019. The book value per share is Rs 52.08. Consolidated earnings per share (EPS) stands at 11.03 while the capital adequacy ratio was maintained at a high level of 23.97 percent. The net NPA position of the Company stood at 0.32 percent as of March 31, 2019.

In other developments, the Board authorized the management to explore opportunities in the micro life insurance sector. The Board also approved the takeover of the promoter led entity Manappuram Asset Finance Ltd. 

Consolidated
Rs. Crore
Particulars
FY 2018-19
FY 2017-18
% growth
Q4 FY 2018-19
Q4 FY 2017-18
% growth
Q3 FY 2018-19
% growth
Income from operations
4116
3421
20.3%
1085
887
22.3%
1081
0.3%
Profit before tax
1427
1037
37.7%
380
276
37.9%
388
-2.0%
Profit after tax (After minority interest)
920
676
36.0%
256
179
42.8%
244
4.7%
AUM
19438
15765
23.3%
19438
15765
23.3%
17783
9.3%
Net Worth
4525
3813
18.7%
4525
3813
18.7%
4342
4.2%
Return on Assets (%)
4.9%
4.0%
5.2%
4.4%
5.2%
Return on Equity (%)
22.1%
17.8%
23.1%
19.3%
23.0%
No. of branches
4351
4197

4351
4197

4314

Total No. of Employees
25610
24886

25610
24886

25202

Standalone
Rs. Crore
Particulars
FY 2018-19
FY 2017-18
% growth
Q4 FY 2018-19
Q4 FY 2017-18
% growth
Q3 FY 2018-19
% growth
AUM
15109
12953
16.6%
15109
12953
16.6%
14207
6.4%
Gold loan AUM
12962
11735
10.5%
12962
11735
10.5%
12525
3.5%
Gold Holding (Tonnes)
67.5
64.0
5.5%
67.5
64.0
5.5%
66.3
1.8%
Total Live gold loan customers (in mn.)
2.4
2.3
6.9%
2.4
2.3
6.9%
2.4
0.9%
Gold loans disbursed
89649
62155
44.2%
27164
20488
32.6%
21029
29.2%
Capital Adequacy Ratio
24.0%
27.0%

24.0%
27.0%

26.4%

Cost of Fund
9.1%
8.9%

9.3%
8.7%

9.4%

Gross NPA (%)
0.55%
0.69%

0.55%
0.69%

0.58%

Net NPA (%)
0.32%
0.33%

0.32%
0.33%

0.32%

Number of Branches
3374
3330
3374
3330

3351

Comm. Vehicle Loans Division AUM
1115
625
78.2%
1115
625
78.2%
976
14.3%
Subsidiaries








Microfinance - AUM
3841
2437
57.6%
3841
2437
57.6%
3195
20.2%
Home Loans - AUM
519
375
38.5%
518.8
374.7
38.5%

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