MANAPPURAM’S
Q1 NET PROFIT UP 38 PERCENT AT RS. 368 CRORE
Manappuram Finance Ltd.
reported consolidated net profit of
₹ 367.97 crore in its first quarter results, an increase of 37.93 per cent over
₹ 266.78 crore recorded in the year ago quarter. Net profit in the quarter for
the standalone entity (which excludes subsidiaries) is reported at ₹ 369.11
crore. Consolidated profits have declined by 7.59 per cent in comparison to the
preceding quarter (Q4 of FY 2019-20), reflecting the impact of COVID-19 and the
lockdowns.
Sharing the results with the
media, Mr. V.P. Nandakumar, MD & CEO, said, “This was a quarter when the
overall business environment was severely affected by the lockdowns. However,
we were able to maintain growth in our core business of gold loans thanks to
our digital infrastructure, particularly our robust online gold loan platform.”
Total consolidated operating
income during the quarter stood at ₹ 1,512.53 crore, an increase of 27.03 per
cent in comparison to ₹ 1,190.69 crore reported in the year ago quarter. Consolidated assets under management (AUM)
grew by 25.56 per cent to ₹ 25,345.83 crore, from ₹ 20,185.94 crore reported in
the year ago quarter.
The company’s Gold loan
portfolio increased by 33.44 per cent to ₹ 17,736.79 crore, from ₹ 13,292.41
crore in the year ago quarter. While the aggregate gold loans disbursed during
the quarter amounted to ₹ 68,389.77 crore, new customer acquisition was
affected by closure of branches due to lockdowns and stood at
0.33 lakh. The number of live gold loan customers stood at 24.9 lakhs as of June 30, 2020.
0.33 lakh. The number of live gold loan customers stood at 24.9 lakhs as of June 30, 2020.
The company’s microfinance
subsidiary, Asirvad Microfinance Ltd. ended the quarter with an AUM of ₹
5,038.31 crore, a growth of 20.01 per cent compared to ₹ 4,198.30 crore
recorded in the year ago quarter. With 23.55 lakh customers and 1,041 branches
across 23 states/UTs, Asirvad Microfinance is now India’s fourth largest
NBFC-MFI.
The company’s home loans
subsidiary, Manappuram Home Finance Ltd., reported an AUM of ₹ 627.33 crore (₹
541.66 crore) while its Vehicles & Equipment Finance division ended the
quarter with an AUM of Rs. 1,270.29 crore (Rs. 1,227.08 crore). The company’s
non-gold loan businesses now account for a 30 per cent share of its
consolidated AUM.
Average borrowing costs for the standalone entity went down marginally
by 7 bps during the quarter, to 9.39 per cent. Gross NPA stood at 1.25 per cent
with Net NPA recorded at 0.70 per cent. The company’s consolidated net worth
stood at ₹ 6,036.77 crore as of June 30, 2020. The book value per share stood
at ₹ 71.43 and its capital adequacy ratio (for the standalone entity) was at
22.94 per cent. On a consolidated basis, the total borrowings of the company
stood at ₹ 23,980.26 crore while the total number of live customers stood at 49.99
lakhs as on June 30, 2020.
Results at a glance|
Consolidated (Rs.
in Crore)
|
|||||
|
Particulars
|
Q1 FY 2021
|
Q1 FY 2020
|
YoY % Growth
|
Q4 FY 2020
|
QoQ % Growth
|
|
Income from operations
|
1,512.53
|
1,190.69
|
27.03%
|
1,605.32
|
-5.78%
|
|
Profit before tax
|
492.29
|
407.14
|
20.91%
|
534.07
|
-7.82%
|
|
Profit after tax (Before OCI &
minority interest)
|
367.97
|
266.78
|
37.93%
|
398.20
|
-7.59%
|
|
AUM
|
25,345.83
|
20,185.94
|
25.56%
|
25,225.17
|
0.48%
|
|
Net Worth
|
6,036.77
|
4,715.16
|
28.03%
|
5,746.11
|
5.06%
|
|
Return on Assets (%)
|
4.8%
|
5.10%
|
|
5.70%
|
|
|
Return on Equity (%)
|
25%
|
23.28%
|
|
28.16%
|
|
|
No. of branches
|
4,616
|
4,380
|
|
4,622
|
|
|
Total no. of employees
|
26,633
|
25,985
|
|
27,767
|
|
|
Book value per share
|
71.43
|
55.92
|
27.74%
|
67.99
|
5.06%
|
|
EPS
|
4.35
|
3.16
|
37.61%
|
4.72
|
-7.73%
|
|
Standalone (Rs. In crore)
|
|||||
|
Particulars
|
Q1 FY 2021
|
Q1 FY 2020
|
YoY % Growth
|
Q4 FY 2020
|
QoQ % Growth
|
|
Profit After Tax (Before OCI)
|
369.11
|
220.30
|
67.54%
|
339.76
|
8.64%
|
|
AUM
|
19,697.98
|
15,535.99
|
26.79%
|
19,121.93
|
3.01%
|
|
Gold loan AUM
|
17,736.79
|
13,292.41
|
33.44%
|
16,967.18
|
4.54%
|
|
Gold Holding (Tonnes)
|
69.03
|
68.36
|
0.97%
|
72.39
|
-4.65%
|
|
Total Live gold loan customers (in
mn.)
|
2.49
|
2.46
|
1.32%
|
2.62
|
-4.90%
|
|
Gold loans disbursed
|
68,389.77
|
26,396.20
|
159.09%
|
51,912.51
|
31.74%
|
|
Capital Adequacy Ratio
|
22.94%
|
23.44%
|
|
21.74%
|
|
|
Cost of Fund
|
9.39%
|
9.34%
|
|
9.46%
|
|
|
Gross NPA (%)
|
1.25%
|
0.71%
|
|
0.88%
|
|
|
Net NPA (%)
|
0.70%
|
0.45%
|
|
0.47%
|
|
|
Number of Branches
|
3,524
|
3,380
|
|
3,529.00
|
|
|
Comm. Vehicle Loans Division AUM
|
1,270.29
|
1,227.08
|
3.52%
|
1,344.35
|
-5.51%
|
|
Subsidiaries
|
|||||
|
Microfinance - AUM
|
5,038.31
|
4,198.30
|
20.01%
|
5,502.64
|
-8.44%
|
|
Home Loans - AUM
|
627.33
|
541.66
|
15.82%
|
629.61
|
-0.36%
|
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