Manappuram Finance Limited · NSE:MANAPPURAM
Manappuram Finance — Q2 FY2025 Earnings Presentation
40 slides from Manappuram Finance's earnings presentation, Nov 1, 2024
Slide 1: Manappuram Finance Limited Investor Presentation Q2 FY2025
MANAPPURAM FINANCE LIMITED Investor Presentation | Q2 - FY2025
Slide 2: Table Of Contents
Table Of Contents 01 Vision and 02 Financial strategy snapshot 03 Segmental 04 Creating a performance difference
Slide 3: Safe Harbour Statement
SAFE HARBOUR STATEMENT This presentation may include statements, which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position,
Slide 4: Vision: To become financial partner of choice for under-banked customers
VISION: TO BECOME FINANCIAL PARTNER OF CHOICE FOR UNDER- BANKED CUSTOMERS ACROSS THEIR LIFECYCLE MANAPPURAM TODAY COMPANY DNA Operational rigor: Company has perfected the art of #2 lender in gold loans in India (core product), managing appraisal, custodial and valuation risks that with a trusted bra
Slide 5: Financial Highlights Q2 FY2025
FINANCIAL HIGHLIGHTS Q2 - FY2025
Slide 6: Key Performance Highlights for Q2 FY2025
KEY PERFORMANCE HIGHLIGHTS FOR Q2 FY2025 Consolidated Business Performance: • Consolidated AUM for QE Sep 24 was INR 457 bn representing a 1.7% growth sequentially and 17.4% YoY growth 17.4% YoY growth in • Consolidated PAT for Q2 FY25 was INR 5,721 mn , up by 2.8% QoQ and up by 2% YoY AUM and RoE o
Slide 7: Consolidated Financial Overview – Q2 & H1 FY2025
CONSOLIDATED FINANCIAL OVERVIEW – Q2 & H1 FY2025 Particulars (Rs. Mn) Q2 FY25 Q1 FY25 Q-o-Q Q2 FY24 Y-o-Y H1 FY25 H1 FY24 Y-o-Y Consolidated AUM (Rs. Bn) 457 449 1.7% 390 17.4% 457 390 17.4% Net Interest Income 17,274 16,399 5.3% 14,712 17.4% 33,673 28,530 18.0% OPEX 6,983 6,823 2.4% 6,181 13.0% 13,
Slide 8: Consolidated Operational Overview – Q2 FY2025
CONSOLIDATED OPERATIONAL OVERVIEW – Q2 FY2025 Particulars (Rs. Mn) Q2 FY25 Q1 FY25 Q-o-Q Q2 FY24 Y-o-Y Gold AUM (Rs. Bn) 244 236 3.0% 208 17.1% Gold Tonnage 59.70 59.59 0.2% 59.37 0.6% Gold Branches (Nos) 4,044 4,044 0.0% 4,044 0.0% Gold Customers (In Mn) 2.66 2.60 2.1% 2.46 7.8% Non-Gold AUM (Rs. B
Slide 9: AUM Mix for Q2 FY2025
AUM MIX FOR Q2 FY2025 Q2 FY25 Q1 FY25 Q2 FY24 7% 7% 2% 2% 7% 2% 11% 10% 8% 3% 4% 4% 53% 53% 53% 24% 25% 26% Gold MFI HFC VEF Onlending MSME Gold MFI HFC VEF Onlending MSME Gold MFI HFC VEF Onlending MSME Particulars (Rs. Mn) Q2 FY25 Q1 FY25 Q-o-Q Q2 FY24 Y-o-Y Gold 2,43,651 2,36,473 3.0% 2,08,085 17
Slide 10: Consolidated Profit & Loss Statement for Q2 & H1 FY2025
CONSOLIDATED PROFIT & LOSS STATEMENT FOR Q2 & H1 FY2025 Particulars (Rs. Mn) Q2 FY25 Q1 FY25 Q-o-Q Q2 FY24 Y-o-Y H1 FY25 H1 FY24 Y-o-Y FY24 Closing AUM (Rs. Bn) 457 449 1.7% 390 17.4% 457 390 17.4% 421 Income from Operations 26,331 24,882 5.8% 21,607 21.9% 51,213 41,908 22.2% 88,480 Finance expenses
Slide 11: Consolidated Balance Sheet for Q2 FY2025
CONSOLIDATED BALANCE SHEET FOR Q2 FY2025 Particulars (Rs. Mn) Sep-24 Jun-24 Q-o-Q Sep-23 Y-o-Y Cash & Bank Balances 49,397 53,833 -8.2% 48,714 1.4% Investments 8,066 8,297 -2.8% 5,427 48.6% Loans & Advances 4,47,621 4,39,132 1.9% 3,70,199 20.9% Fixed Assets 4,873 4,836 0.8% 4,626 5.3% Other Assets 1
Slide 12: Well Capitalized, Prudent Liabilities Strategy with Reducing CoF
WELL CAPITALIZED, PRUDENT LIABILITIES STRATEGY WITH REDUCING COF Access to diversified sources of Funding (Consolidated Rs. Mn) CO ST O F BO RRO WI NG ( CO NSO LI D AT ED ) Borrowing Mix Q2FY25 Q1FY25 Q2 FY24 9.3% 9.3% 9.2% 9.1% 8.9% Particulars Amount % Amount % Amount % WCDL / CC 73,413 19% 78,822
Slide 13: Standalone Result Analysis Q2 & H1 FY2025
STANDALONE RESULT ANALYSIS Q2 & H1 FY2025 GOLD LOAN AUM (Rs. Bn) NET PROFIT (Rs. Mn) 16,979 16,578 226 232 199 207 200 199 207 191 190 13,045 12,663 170 12,303 9,155 8,008 4,199 4,286 4,283 4,406 4,749 FY20 FY21 FY22 FY23 FY24 Q2 Q3 Q4 Q1 Q2 FY20 FY21 FY22 FY23 FY24 Q2 Q3 Q4 Q1 Q2 H1 H1 FY24 FY24 FY
Slide 14: Standalone Result Analysis Q2 FY2025
STANDALONE RESULT ANALYSIS Q2 FY2025 NET Y I ELD (% ) O PEX T O AUM % 25.4% 24.9% 7.2% 7.0% 6.9% 6.6% 6.4% 6.4% 6.4% 22.2% 21.9% 21.9% 22.3% 21.7% 21.8% 22.0% 6.2% 6.1% 5.9% 20.9% FY20 FY21 FY22 FY23 FY24 Q2 Q3 Q4 Q1 Q2 FY20 FY21 FY22 FY23 FY24 Q2 Q3 Q4 Q1 Q2 FY24 FY24 FY24 FY25 FY25 FY24 FY24 FY24
Slide 15: Standalone Borrowing Profile for Q2 FY2025
STANDALONE BORROWING PROFILE FOR Q2 FY2025 Access to diversified sources of Funding (Rs. Mn) COST OF BORROWING % Borrowing Mix Q2 FY25 Q1 FY25 Q2 FY24 Particulars Amount % Amount % Amount % WCDL/CC 73,173 27% 78,655 30% 88,404 40% 9.1% 9.0% Term Loan 1,01,954 38% 1,04,375 39% 83,477 37% 8.8% 8.7% NC
Slide 16: Segmental Performance
6: MANAPPURAM > FINANCE LIMITED SEGMENTAL PERFORMANCE
Slide 17: Gold AUM Update for Q2 FY2025
GOLD AUM UPDATE FOR Q2 FY2025 AVG. LOAN TICKET SIZE (Rs ‘000) CUSTOMER BASE (Mn) GOLD AUM PER BRANCH (Rs. Mn) AVG. LOAN TICKET SIZE (Rs ‘000) 75 Customer Base CAGR:4% 2.60 2.59 62.1 62.5 65 56.6 57.5 58.5 57.6 57.4 58.5 2.49 55 44.6 2.45 64.2 66.0 54.1 56.4 54.0 58.6 56.7 56.5 58.6 38.5 2.37 2.38 2.
Slide 18: Gold Loan Growth Levers
GOLD LOAN GROWTH LEVERS Celebrity Endorsement Online Gold Loan Business Associates Gold Loan Digital Marketing / DSA Channel Business Growth Levers Relocation & Revitalization of Local Marketing Non-performing branches Activities Low interest rate sensitivity given Manappuram has undertaken various
Slide 19: Gold Loan Pan India Presence Q2 FY2025
GOLD LOAN PAN INDIA PRESENCE Q2 FY2025 North 17% West 10% State Branch State Branch Jammu & Kashmir 10 Maharashtra 210 Himachal Pradesh 13 Goa 8 Chandigarh 4 Gujarat 123 Delhi 59 Total 341 Punjab 75 Uttarakhand 8 Union Territories Haryana 64 State Branch Uttar Pradesh 140 Daman Diu 3 Rajasthan 96 An
Slide 20: Online Gold Loan Business
ONLINE GOLD LOAN BUSINESS AVERAGE TICKET SIZE (Rs ‘000) % SHARE OF OGL IN THE OVERALL GOLD AUM CAGR:7% 73.2 75.0 72.3 74% 71.7 69.4 69.7 71.7 70% 63.3 54% 57% 56% 56% 57% 50.2 53.0 50% 48% 44% FY20 FY21 FY22 FY23 FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 FY20 FY21 FY22 FY23 FY24 Q2FY24 Q3FY24 Q4FY24 Q
Slide 21: Asirvad Microfinance Results for Q2 & H1 FY2025
ASIRVAD MICROFINANCE RESULTS FOR Q2 & H1 FY2025 Particulars (Rs. Mn) Q2 FY25 Q1 FY25 Q-o-Q Q2 FY24 Y-o-Y H1 FY25 H1 FY24 Y-o-Y FY24 Total Revenue from Operations 7,775 7,530 3.3% 6,243 24.5% 15,305 12,614 21.3% 26,813 Finance Cost 2,813 2,730 3.0% 2,272 23.8% 5,544 4,445 24.7% 9,474 Net Interest inc
Slide 22: Asirvad Microfinance Result Analysis for Q2 FY2025
ASIRVAD MICROFINANCE RESULT ANALYSIS FOR Q2 FY2025 ASIRVAD AUM (Rs Mn) CAPITAL ADEQUACY RATIO % CAGR: 21% 1,18,805 1,23,102 1,21,492 1,15,627 1,18,805 25.4% 1,09,498 24.5% 1,00,409 23.3% 22.8% 23.2% 22.8% 20.8% 21.8% 21.5% 19.7% 70,022 55,026 59,846 FY20 FY21 FY22 FY23 FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY
Slide 23: Asirvad Microfinance: Asset Quality
ASIRVAD MICROFINANCE: ASSET QUALITY Evolution of Asset Quality for Asirvad Particulars Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Stage - I 90.3% 95.4% 96.3% 95.0% 95.4% 94.5% 95.4% 93.3% Stage - II 3.0% 1.9% 0.8% 2.2% 2.0% 1.8% 1.7% 2.6% Stage III 6.7% 2.7% 2.9% 2.8% 2.6% 3.7% 2.9% 4.5
Slide 24: Asirvad Microfinance Business and Productivity Metrics
ASIRVAD MICROFINANCE BUSINESS AND PRODUCTIVITY METRICS GROWTH PRODUCTIVITY AUM (INR mn) Number of loan officers CAGR: 26% CAGR: 25% 1,18,805 1,18,805 1,23,102 1,21,492 1,00,409 1,40,000 11,035 11,035 1,20,000 59,846 70,022 9,893 8,736 8,879 1,00,000 80,000 7,507 4,490 60,000 40,000 20,000 0 FY21 FY2
Slide 25: Asirvad Microfinance Liabilities Overview for Q2 FY2025
ASIRVAD MICROFINANCE LIABILITIES OVERVIEW FOR Q2 FY2025 CO ST O F FUND S Access to diversified sources of Funding (Rs. Mn) 10.1% 10.1% 10.2% 10.2% 10.3% 10.3% 10.3% 10.2% 11.0% 9.7% 10.1% 10.0% Borrowing Mix Q2 FY25 Q1 FY25 Q2 FY24 9.0% 8.0% 7.0% Particulars Amount % Amount % Amount % 6.0% 5.0% Term
Slide 26: Asirvad Microfinance Liquidity Update
ASIRVAD MICROFINANCE LIQUIDITY UPDATE Maturity ALM (Rs. Mn) 1,30,772 1,40,000 1,30,772 1,20,000 1,00,000 80,000 60,000 40,000 36,848 38,861 38,884 26,383 24,272 20,000 17,246 16,170 16,941 8,632 7,168 5,698 5,369 6,891 6,632 5,331 239 - 1 Month 1 - 2 Month 2 - 3 Month 3 - 6 Month 6 - 1 Year 1 - 3 Ye
Slide 27: Asirvad Microfinance Pan India Presence Q2 FY2025
ASIRVAD MICROFINANCE PAN INDIA PRESENCE Q2 FY2025 East State Branch Bihar 161 North Sikkim 3 MFI AUM - STATEWISE BREAKUP State Branch Assam 40 Chandigarh 1 West Bengal 147 Tamil Nadu 13% Punjab 48 Jharkhand 63 Haryana 57 Tripura 31 Bihar 14% Rajasthan 155 Chhattisgarh 31 Odisha 126 Uttarakhand 10 We
Slide 28: Housing Finance Business Update for Q2 FY2025
HOUSING FINANCE BUSINESS UPDATE FOR Q2 FY2025 AUM EVOLUTION (Rs. Mn) 16,916 Home Loan AUM MIX (%) 15,874 CAGR:19% 15,097 15,097 LAP ATS (INRL) Yield 14,153 13,049 28% 29% 30% 31% 31% 31% 31% 32% 10,958 6.2 19.4% 8,453 6,296 6,663 72% 71% 70% 69% 69% 69% 69% 68% 6.1 17.6% FY20 FY21 FY22 FY23 FY24 Q2
Slide 29: Housing Finance Business Strategy
HOUSING FINANCE BUSINESS STRATEGY Growth drivers for future expansion • Riding on the parent’s brand equity and pan India presence for scaling up the business • Low-cost operation model based on co-location with Underwriting parent branches • Investment in training and development of human • Decentr
Slide 30: Vehicle and Equipment Finance Business Update for Q2 FY2025
VEHICLE AND EQUIPMENT FINANCE BUSINESS UPDATE FOR Q2 FY2025 ATS (INRL) Yield AUM MIX (%) AUM EVOLUTION (Rs Mn) CV TW PV 48,482 45,413 CAGR:25% 41,109 41,109 20%10% 4.9 18% 35,974 22% 18% 17% 18% 18% 24% 17% 25% 17% 25% 17% 26% 17% 26% 16% 28% 16% 30% 31,432 24,308 16,432 0.8 22% 13,443 10,526 70% 65
Slide 31: Vehicle and Equipment Finance Business Strategy
VEHICLE AND EQUIPMENT FINANCE BUSINESS STRATEGY PROFIT OPTIMIZERS Increase penetration into Rural and Semi Urban locations Digital Lending Platform and automated approval process in Analytics Mobility Solution Deep Penetration TW loans Use of Analytics for On the go solution with Deeper penetration
Slide 32: Standalone MSME and Personal Loans Business Update for Q2 FY2025
STANDALONE MSME AND PERSONAL LOANS BUSINESS UPDATE FOR Q2 FY2025 AUM EVOLUTION (Rs Mn) AUM MIX (%) MSME Micro-Housing Secured PL Unsecured PL ATS (INRL) Yield 29,629 29,460 29,085 29,085 28,576 CAGR:83% 5% 7% 5% 26,388 11% 12% 12% 12% 9% 0.2 26% 18% 19% 19% 20% 17% 18% 17% 19% 19,447 4.2 20% 33% 38%
Slide 33: MSME and Personal Loans Business Strategy
MSME AND PERSONAL LOANS BUSINESS STRATEGY Stronger in Rural and Semi Urban locations (tier-3 / 4); scope to increase Origination and Sourcing penetration across additional branches • Better penetration in 3-tier and 4-tier towns • Direct sourcing through field-level marketing , digital marketing and
Slide 34: Creating a Difference
CREATING A DIFFERENCE • Donated Rs 10,00,000/- to 100 children who lost one or both • Financial assistance to BPL/economically backward patients, 37 • 50% reimbursement to BPL category (last 3 months):192 BPL parents due to covid-19 as part of Thrissur District Collector’s cheques through Manappuram
Slide 35: Deep Management Bench
DEEP MANAGEMENT BENCH SENIOR MANAGEMENT TEAM Mr. V. P. Nandakumar Dr. Sumitha Nandan Mr. B.N. Raveendra Babu Managing Director and CEO Executive Director MD – Asirvad Micro Finance Ltd • Postgraduate in Science • MBBS from Rajiv Gandhi University of Science • Masters degree in commerce • Managing co
Slide 36: Senior Management Team
SENIOR MANAGEMENT TEAM KEY BUSINESS HEADS Mr. Kamal Parmar Head – Vehicle and Equipment Finance Mr. Vijayakumar KB Mr. Ratheesh PM Business Head - MSME Business Head- Micro Home Finance • Over 28 years experience with organizations such as • 20 years+ experience and worked in various • 16 years+ exp
Slide 37: Independent Board Bench
INDEPENDENT BOARD BENCH BOARD OF DIRECTORS Dr. Shailesh J Mehta Mr. Harshan Kollara Independent & Non-Executive Independent & Non-Executive Director Director • B-tech in ME from IIT- B, MSc in Operations, PhD • He holds a Masters in Economics from Bombay degree in Operation Research University. • Ov
Slide 38: Independent Board Bench
INDEPENDENT BOARD BENCH BOARD OF DIRECTORS Dr. Sankaran Nair Rajagopal Mrs. Pratima Ram Independent & Non-Executive Director Independent & Non-Executive Director • A seasoned banking professional with over three decades of experience • MA from University of Virginia, USA in Reserve Bank of India and
Slide 39: Shareholding and Stock Performance
SHAREHOLDING AND STOCK PERFORMANCE Shareholding Pattern as on 30th September, 2024 Top Shareholders holding Stock Data more than 1% (other than % 24% promoters) Market Cap as on 01 November 24 ₹ 13,517.56 Crs Small World Fund INC 3.48 Stock Price as on 01 November 24 159.70 35% 1% DSP Small Cap Fund
Slide 40: Manappuram Finance Limited contact details
Manappuram Finance Limited, IV / 470 (old) W638A (New), Manappuram House, Valapad, Thrissur Kerala, India, Pin code : 680567 Mrs. Bindu A.L. Mr. Susil Kumar Mishra Nikunj Seth CFO Head – Investor Relations & Treasury Het Choksey Advisors Contact No : +914873050000 Contact No : +919967405163 +91 9773