Manba Finance Ltd.

•

manbafinance.comBSE: 544262NSE: MANBA

Market Cap₹ 651 Cr.

Current Price

High / Low₹ 154 / 98

Stock P/E13.3

Book Value₹ 84

Price to Book1.80

Dividend Yield0.19 %

ROCE13.2 %

ROE13.3 %

Face Value₹ 10

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Promoters have been increasing their shareholding - up 44.3pp over 2 years
Comfortable capital adequacy - CAR of 30.1%
Solid return on assets for a lender - ROA of 3.1%
Latest quarter profit grew 36.0% YoY, showing strong momentum
Operating margins have improved to 64.9% from 59.1%
Company has delivered good sales growth of 16.3% CAGR over last 5 years

CONS

Net NPA is elevated at 2.5% - provisioning cushion is thin
Equity base is being diluted - shares outstanding up 300.1%
Free cash flow has been persistently negative
Thin net interest margin of 0.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - NBFC

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BAJFINANCE	1060.50	32.52	660262.45	0.57	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1041.00	21.64	244945.59	1.04	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	TATACAP	375.00	29.46	159182.59	0.15	16281.80	1464.16	88219.30	1051.00	8.66	75.72
4.	JIOFIN	239.85	76.64	158376.35	0.25	8302.50	2457.29	20044.70	3172.82	2.11	69.71
5.	CHOLAFIN	1839.00	27.31	157062.74	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
6.	BAJAJHLDNG	11148.75	14.01	124078.35	1.75	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2920.00	10.31	117228.79	1.03	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	404.80	27.00	110815.96	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	314.00	24.73	78699.47	0.88	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	657.90	27.52	62608.60	0.38	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	682.25	26.05	56678.94	0.59	785.20	38.31	4937.90	18.71	9.09	57.98
12.	MANBA	129.55	45.41	650.85	0.19	13.26	36.03	92.61	46.90	13.18	65.69

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34	40	44	51	46	61	64	66	63	72	84	92	93
	13	16	19	19	18	21	23	27	23	26	29	33	77
Operating Profit	22	36	29	36	31	44	46	41	44	51	60	61	61
OPM %	64.26%	91.16%	66.76%	72.06%	68.19%	71.75%	71.28%	62.71%	69.34%	70.90%	71.71%	65.71%	65.69%
Other Income	1	0	0	0	0	0	0	0	2	-0	0	0	0
Interest	18	18	22	24	23	27	28	29	32	35	42	43	44
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
	4	17	6	11	7	16	16	11	12	15	17	17	16
Tax %	35.42%	18.06%	23.45%	12.98%	20.83%	26.82%	21.26%	28.33%	19.95%	25.20%	23.69%	34.30%	17.65%
Net Profit	3	14	5	10	5	12	13	8	10	11	13	11	13
	2	3	1	2	1	2	3	2	2	2	3	2	0

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	40	47	59	87	118	106	107	133	192	250	342
	18	20	25	33	42	38	44	49	67	88	165
Operating Profit	22	27	34	55	75	67	63	84	125	162	177
OPM %	55.26%	57.72%	58.12%	62.35%	64.00%	63.74%	59.12%	62.97%	65.23%	64.89%	51.73%
	0	0	0	3	1	0	0	0	0	0	-0
Interest	13	17	21	35	50	51	47	57	82	108	163
Depreciation	1	1	1	2	2	4	4	4	4	5	5
Profit before Tax	8	10	12	21	24	13	13	23	39	50	65
Tax %	32.63%	33.95%	31.58%	31.53%	23.89%	27.17%	23.08%	27.24%	19.34%	24.55%	25.30%
Net Profit	5	6	8	14	18	9	10	17	31	38	49
EPS	0.00	0.00	0.00	0.00	19.28	2.49	2.59	4.40	8.28	7.52	—
Dividend Payout %	—	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 24%
5 Years:: 16%
3 Years:: 33%

COMPOUNDED PROFIT GROWTH

10 Years:: 25%
5 Years:: 16%
3 Years:: 57%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -7%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 11%
3 Years:: 14%
Last Year:: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6	6	8	9	13	13	13	13	38	50
	38	44	72	94	123	129	139	156	163	319
	127	157	230	372	394	406	395	607	763	1,084
Trade Payables	4	5	9	10	4	2	12	7	1	1
	10	14	15	21	6	4	1	2	9	10
Total Liabilities	184	225	334	506	541	554	559	786	973	1,464
	11	11	21	14	14	16	13	22	20	18
Capital Work in Progress	0	1	2	2	0	0	0	0	0	0
	0	0	0	0	0	0	0	18	27	38
Cash & Bank	5	9	7	18	11	14	50	109	125	240
	168	204	304	473	516	524	497	637	802	1,168
Total Assets	184	225	334	506	541	554	559	786	973	1,464

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	12	-4	-61	-108	13	-3	51	-118	-141	-324
Cash from Investing	-1	-2	-11	3	-1	-1	-1	-19	1	-15
Cash from Financing	-8	13	74	123	-13	11	-10	202	156	453
	0	4	-2	11	-7	3	36	59	16	115

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.00	11.07	10.31	15.20	14.49	7.46	7.76	13.20	8.28	7.52
Book Value (₹)	0.00	75.60	91.99	108.89	108.29	113.04	120.85	134.14	53.25	73.43
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.25
Cash EPS (₹)	2.93	3.43	3.28	4.85	4.53	3.45	3.59	5.58	9.47	8.44
PROFITABILITY
Operating Margin %	55.31%	57.77%	58.24%	65.62%	64.58%	63.86%	59.14%	62.97%	65.23%	64.89%
Net Margin %	13.34%	13.47%	14.01%	16.40%	15.44%	8.86%	9.14%	12.44%	16.27%	15.10%
ROE %	15.41%	15.80%	14.11%	16.28%	15.24%	6.74%	6.63%	10.36%	16.90%	13.28%
ROCE %	14.51%	14.57%	13.18%	14.28%	14.76%	11.86%	10.84%	12.13%	14.04%	13.18%
	3.22%	3.09%	2.94%	3.41%	3.47%	1.71%	1.75%	2.47%	3.55%	3.10%
EFFICIENCY
Debtor Days	0	0	0	0	0	0	0	0	0	0
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	0
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	3.63x	3.13x	3.62x	2.90x	2.85x	2.60x	3.54x	3.75x	2.91x
Interest Coverage (x)	1.58x	1.57x	1.57x	1.61x	1.48x	1.25x	1.27x	1.40x	1.47x	1.46x
	12.59x	11.47x	13.03x	16.44x	51.13x	67.83x	36.78x	64.63x	0.35x	0.43x
GROWTH
Revenue Growth %	34.17%	18.74%	25.07%	48.96%	34.69%	-10.33%	0.88%	25.07%	43.71%	30.70%
Operating Profit Growth %	28.54%	24.01%	26.08%	67.85%	32.55%	-11.32%	-6.57%	33.16%	48.92%	30.01%
Net Profit Growth %	31.83%	19.89%	30.05%	74.37%	26.84%	-48.55%	4.03%	70.22%	88.05%	21.25%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-37.32%	-9.09%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.54x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.80x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.32x	9.22x

Shareholding Pattern

Numbers in percentages

	Mar 2022	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.70	74.98	74.98	74.98	74.98	74.98	74.98	74.98	74.98
	0.00	5.16	2.35	0.92	0.87	0.88	0.92	0.87	0.92
	0.00	2.06	0.42	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	69.30	17.80	22.25	24.10	24.15	24.14	24.10	24.15	24.10

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Trading Window

2026-09-04 - Manba Finance Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-09-03

Updates

2026-09-03 - Manba Finance Limited has informed the Exchange regarding 'letter to shareholder'.

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Manba Finance Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-01

Shareholders meeting

2026-09-01 - Manba Finance Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Manba Finance Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Record Date

2026-08-31 - Manba Finance Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.

2026-08-31

Outcome of Board Meeting

2026-08-31 - Manba Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-24

Allotment of Securities

2026-08-24 - Manba Finance Limited has informed the Exchange regarding allotment of 9000 securities pursuant to Non Convertible Securities at its meeting held on August 24, 2026

2026-07-30

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-30 - Manba Finance Limited has informed the Exchange about Transcript

News

Recent coverage and analyst commentary for MANBA

Loading news…

🤖

AI Stock Analyst

Manba Finance Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account