Valapad (Thrissur): Manappuram Finance Ltd. reported a consolidated net profit
of ₹ 405.44 crore. Profit is higher by 10.2 per cent in comparison to ₹ 367.97
crore reported in the preceding quarter. Net profit for the standalone entity
(which excludes subsidiaries) is reported at ₹ 405.56 crore, an increase of
20.6% in comparison to Rs.336.17 crore reported a year ago (9.9% compared to
the first quarter).
Total
consolidated operating income during the quarter stood at ₹1,565.58 crore, an
increase of 16.6 per cent in comparison to ₹1,343.03 crore reported a year ago.
Consolidated assets under management (AUM) grew by 18.6 per cent to ₹26,902.73
crore, from ₹22,676.93 crore in the second quarter of the previous fiscal year.
The Board of Directors met at Valapad today to
consider the results, and approved payment of interim dividend of ₹0.60 per
share with face value of ₹2.
Sharing
the results with the media, Mr. V.P. Nandakumar, MD & CEO, said, “We are
seeing robust demand for gold loans as economic activities recover ground in
India with our rural economy leading the way. Accordingly, we could maintain strong
growth in gold loans helped by our digital infrastructure and our robust online
gold loan platform.”
The
company’s gold loan portfolio posted a strong growth of 30.1 per cent to
₹19,736.02 crore, from ₹15,168.34 crore in the year ago quarter. The number of
live gold loan customers stood at 25.6 lakhs as of September 30, 2020.
Manappuram’s
microfinance subsidiary, Asirvad Microfinance Ltd. ended the quarter with an
AUM of ₹4,971.03 crore, a growth of 5.2 per cent compared to ₹4,724.25 crore in
the year ago quarter. With 23.04 lakh customers and 1,036 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 ₹620.62 crore (₹567.93 crore) while its Vehicles & Equipment Finance
division ended the quarter with an AUM of ₹1,062.28 crore (₹1,317.76 crore).
The company’s non-gold loan businesses accounts for a 26.6 per cent share of
its consolidated AUM.
Average borrowing costs for the standalone entity declined
by 26 basis points during the quarter, to 9.13 per cent. The gross NPA stood at
1.11 per cent with net NPA reported at 0.68 per cent. The company’s
consolidated net worth stood at ₹6,450.83 crore as of September 30, 2020. The
book value per share stands at ₹76.24 and the its capital adequacy ratio (standalone)
was at 24.8 per cent. On a consolidated basis, the total borrowings of the
company stood at ₹24,735 crore while the total number of live customers stood
at 50.02 lakhs as on September 30, 2020.
Results at a glance
|
Consolidated (Rs. in Crore) |
|||||
|
Particulars |
Q2 FY 2021 |
Q2 FY 2020 |
YoY % Growth |
Q1 FY 2021 |
QoQ % Growth |
|
Income from operations |
1,565.58 |
1,343.03 |
16.6% |
1,512.53 |
3.5% |
|
Profit before tax |
544.41 |
548.30 |
-0.7% |
492.29 |
10.6% |
|
Profit after tax (Before OCI & minority interest) |
405.44 |
432.98 |
-6.4% |
367.97 |
10.2% |
|
AUM |
26,902.73 |
22,676.93 |
18.6% |
25,345.83 |
6.1% |
|
Net Worth |
6,450.83 |
5,061.80 |
27.4% |
6,036.77 |
6.9% |
|
Return
on Assets (%) |
5.1% |
5.9% |
4.8% |
||
|
Return
on Equity (%) |
26.0% |
28.0% |
25.0% |
||
|
No. of branches |
4,611 |
4,540 |
|
4,616 |
|
|
Total no. of employees |
27,769 |
26,392 |
|
26,633 |
|
|
Book value per share |
76.24 |
60.03 |
27.0% |
71.43 |
6.7% |
|
EPS |
4.80 |
3.16 |
51.6% |
4.35 |
10.2% |
|
Standalone (Rs. in crore) |
|||||
|
Particulars |
Q2 FY 2021 |
Q2 FY 2020 |
YoY % Growth |
Q1 FY 2021 |
QoQ % Growth |
|
Profit After Tax (Before OCI) |
405.56 |
336.17 |
20.6% |
369.11 |
9.9% |
|
AUM |
21,311.07 |
17,509.76 |
21.7% |
19,697.98 |
8.2% |
|
Gold loan AUM |
19,736.02 |
15,168.34 |
30.1% |
17,736.79 |
11.3% |
|
Gold Holding (Tonnes) |
68.83 |
72.03 |
-4.4% |
69.03 |
-0.3% |
|
Total Live gold loan customers (in mn.) |
2.56 |
2.59 |
-1.2% |
2.49 |
2.5% |
|
Gold loans disbursed |
93,368.17 |
50,296.26 |
85.6% |
68,389.77 |
36.5% |
|
Capital Adequacy Ratio |
24.80% |
22.7% |
22.9% |
||
|
Cost of Fund |
9.13% |
9.3% |
9.39% |
||
|
Gross NPA (%) |
1.11% |
0.6% |
1.3% |
||
|
Net NPA (%) |
0.68% |
0.3% |
0.7% |
||
|
Number of Branches |
3,524 |
3,463 |
3,524 |
||
|
Comm. Vehicle Loans Division AUM |
1,062.28 |
1,317.76 |
-19.4% |
1,270.29 |
-16.4% |
|
Subsidiaries |
|||||
|
Microfinance - AUM |
4,971.03 |
4,724.25 |
5.2% |
5,038.31 |
-1.3% |
|
Home Loans - AUM |
620.62 |
567.93 |
9.3% |
627.33 |
-1.1% |
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