Manappuram Finance Limited · NSE:MANAPPURAM
Manappuram Finance — Q1 FY2027 Earnings Presentation
42 slides from Manappuram Finance's earnings presentation, Aug 11, 2026
Slide 1: Exchange filing cover letter
Reference No.: SEC/ SE/102/ 2026 - 27 Date: August 11, 2026 BSE Limited National Stock Exchange of India International Exchange India Limited (IFSC) Ltd Phiroze Jeejeebhoy Towers Dalal Street 5th Floor, Exchange Plaza 1st Floor, Unit No. 101, Mumbai- 400001 Bandra (East) The Signature, Building no.
Slide 2: Manappuram Finance Limited Investor Presentation Q1 FY2027
Manappuram Finance Limited Investor Presentation Q1 - FY2027
Slide 3: Table of Contents
Table of Contents Page – 04 Pages – 05-17 01 Vision and strategy 02 Financial snapshot Pages – 18-37 Page – 38 03 Segmental performance 04 Creating a difference Pages – 39-40 05 Board of Directors and Management Team
Slide 4: Safe Harbour Statement
Safe Harbour Statement This presentation may include The company assumes no Any person/ party intending to Actual results could differ materially statements, which may constitute responsibility to publicly amend, provide finance / invest in the from those expressed or implied. forward-looking statem
Slide 5: Manappuram Vision
Manappuram Vision Become the financial partner of choice to under-banked customers across their lifecycle Leading gold loan player in India, with a trusted brand Operational rigor: Perfected the art of managing and nation-wide reach appraisal, custodial and valuation risks that are inherent in gold
Slide 6: Financial Highlights Q1 - FY2027
Financial Highlights Q1 - FY2027
Slide 7: Key Performance Highlights – Q1 FY2027
Key Performance Highlights – Q1 FY2027 Consolidated Q1 FY2027 Standalone Q1 FY2027 AUM Opex / AUM ROAA AUM Opex / AUM ROAA 69,635 Cr 4.59% 3.54% 60,971 Cr 3.79% 3.80% 57.2% YoY 128 bps YoY 244 bps YoY 70.8% YoY 294 bps YoY Nil YoY 9.1% QoQ 51 bps QoQ 74 bps QoQ 9.0% QoQ 41 bps QoQ 80 bps QoQ PAT Cus
Slide 8: Consolidated Financial Overview – Q1 FY2027
Consolidated Financial Overview – Q1 FY2027 Q1 FY27 Q4FY26 Q-o-Q Q1FY26 Y-o-Y FY26 FY25 Y-o-Y Financials Consolidated AUM 69,635 63,798 9.1% 44,304 57.2% 63,798 43,034 48.3% Net Interest Income 1,759 1,504 16.9% 1,407 25.0% 5,724 6,470 -11.5% OPEX 759 737 3.0% 749 1.3% 2,913 2,816 3.4% PPOP 1,007 77
Slide 9: Consolidated Operational Metrics – Q1 FY2027
Consolidated Operational Metrics – Q1 FY2027 Q1 FY27 Q4 FY26 Q-o-Q Q1 FY26 Y-o-Y Ratios and Metrics Gold AUM (Rs. Cr) 57,006 50,953 11.9% 28,802 97.9% Gold Tonnage 67 63 7.0% 57 18.3% Gold Branches (Nos) 4,054 4,044 0.2% 4,044 0.2% Gold Customers (In Lakh) 29 27 5.5% 26 10.5% AUM Per Branch 14 13 11
Slide 10: AUM Mix – Q1 FY2027
AUM Mix – Q1 FY2027 Q1 FY27 Q4FY26 Q-o-Q Q1FY26 Y-o-Y Gold 54,655 48,814 12.0% 27,691 97.4% MSME and others 3,432 3,351 2.4% 3,105 10.5% VEF 2,562 2,991 -14.3% 4,492 -43.0% Onlending 322 796 -59.6% 410 -21.5% Standalone AUM 60,971 55,952 9.0% 35,698 70.8% Asirvad-MFI 4,827 4,636 4.1% 5,542 -12.9% As
Slide 11: Consolidated P&L – Q1 FY2027
Consolidated P&L – Q1 FY2027 Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY FY26 FY25 YoY AUM Closing AUM 69,635 63,798 9.2% 44,304 57.2% 63,798 43,034 48.3% Gold AUM 57,006 50,953 11.9% 28,802 97.9% 50,953 25,586 99.1% Income Revenue from Operations 3,033 2,614 16.0% 2,262 34.1% 9,509 10,011 -5.0% Finance Expense
Slide 12: Consolidated Balance Sheet – Q1 FY2027
Consolidated Balance Sheet – Q1 FY2027 Jun-26 Mar-26 QoQ Jun-25 YoY Cash and Bank Balances 3,316 6,149 -46.1% 4,047 -18.1% Investments 2,098 2,051 2.3% 1,144 83.4% Loans and Advances 69,218 62,844 10.1% 43,713 58.3% Fixed Assets 519 527 -1.5% 522 -0.5% Other Assets 2,838 2,988 -5.0% 1,810 56.8% Tota
Slide 13: Borrowings Strategy – Consolidated
Borrowings Strategy – Consolidated Q1FY27 Q4FY26 Q1FY26 Particulars Amount % Amount % Amount % Cost of Borrowing (Consolidated) WCDL / CC 10,315 17.1% 9,727 17.0% 7,878 21.1% 9.2% 9.1% 9.0% 8.9% 8.9% Term Loan 27,420 45.6% 26,735 46.7% 19,180 51.3% NCD 5,418 9.0% 4,053 7.1% 3,274 8.8% ECB and USD Bo
Slide 14: Standalone P&L – Q1 FY2027
Standalone P&L – Q1 FY2027 Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY FY26 FY25 YoY AUM Closing AUM 60,971 55,952 9.0% 35,698 70.8% 55,952 33,021 69.4% Gold AUM 54,655 48,814 12.0% 27,691 97.4% 48,814 24,658 98.0% Income Revenue from Operations 2,543 2,158 17.9% 1,743 45.9% 7,643 6,906 10.7% Finance Expenses 1
Slide 15: Standalone Balance Sheet – Q1 FY2027
Standalone Balance Sheet – Q1 FY2027 Jun-26 Mar-26 QoQ Jun-25 YoY Cash and Bank Balances 2,171 4,931 -56.0% 3,475 -37.5% Investments 4,479 3,513 27.5% 2,561 74.9% Loans and Advances 61,264 55,793 9.8% 35,842 70.9% Fixed Assets 432 438 -1.5% 425 1.5% Other Assets 2,004 2,879 -30.4% 988 102.8% Total A
Slide 16: Borrowings Strategy – Standalone
Borrowings Strategy – Standalone Q1FY27 Q4FY26 Q1FY26 Particulars Amount % Amount % Amount % Cost of Borrowing% WCDL / CC 10,175 19.2% 9,609 19.0% 7,849 26.0% 9.2% 9.1% Term Loan 21,605 40.8% 21,341 42.2% 12,722 42.2% 8.8% NCD 4,439 8.4% 3,227 6.4% 3,210 10.6% 8.6% 8.8% ECB and USD Bond 12,393 23.4%
Slide 17: Standalone Results Analysis – Q1 FY2027
Standalone Results Analysis – Q1 FY2027 AUM Gold Yield % 60,971 22.8% 22.3% 22.4% 55,952 55,952 21.2% 17.1% 17.1% 17.7% 33,021 28,679 22,413 24,446 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 PAT Opex/AUM 1,783 1,658 6.6% 6.9% 6.4% 1,525 6.1% 1,305 1,266 5.1% 4.
Slide 18: Standalone Results Analysis – Q1 FY2027
Standalone Results Analysis – Q1 FY2027 GNPA/NNPA Networth NNPA (%) GNPA (%) 15,938 15,938 16,403 3.0% 2.8% 11,793 10,349 2.7% 1.9% 8,980 2.4% 1.8% 1.8% 7,943 1.3% 1.6% 1.7% 1.5% 1.5% 1.1% 1.1% FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 ROA/ROE CRAR ROA ROE 31.
Slide 19: Segment Performance
<S:; MANAPPURAM eo FINANCE LIMITED Segment Performance
Slide 20: Gold AUM Update – Q1 FY2027
Gold AUM Update – Q1 FY2027 Standalone Avg. Loan Ticket Size & Customer Base Standalone Gold AUM Per Branch (Rs Cr) Avg. Loan Ticket Size (Rs '000) Customer Base (Lakh) 15.5 128 128 133 13.9 13.9 68 7.0 57 58 58 5.6 5.9 5.4 24 23 24 24 25 25 27 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 FY22 FY23 FY24
Slide 21: Gold Loan Growth Levers
Gold Loan Growth Levers Capitalizing on large customer franchise to activate latent customers and acquire new customers through digital marketing, dedicated teams / schemes and localised Branch Online marketing activities network Gold Loan Business Associates Gold Loan Digital Revamping incentive sc
Slide 22: Gold Loan Pan-India Network Q1 FY2027
Gold Loan Pan-India Network Q1 FY2027 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 And
Slide 23: Online Gold Loans (OGL)
Online Gold Loans (OGL) Average Ticket Size (Rs ‘000) % Share of OGL on Gold AUM1 92% 92% 90% 136 136 135 82% 57% 77 50% 73 72 44% 63 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1 FY27 2 4 6 Enables customers to First NBFC to launch avail a gold loan Instant fund Onlin
Slide 24: Asirvad Microfinance – Results Q1 FY2027
Asirvad Microfinance – Results Q1 FY2027 Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY FY26 FY25 YoY AUM Closing AUM 7,188 6,793 5.8% 6,705 7.2% 6,793 8,189 -17.0% Income Revenue from Operations 421 371 13.5% 422 -0.2% 1,506 2,717 -44.6% Finance Expenses 156 140 11.6% 174 -10.2% 609 1,034 -41.1% Net Interest Inco
Slide 25: Asirvad Microfinance – Results Analysis – Q1 FY2027
Asirvad Microfinance – Results Analysis – Q1 FY2027 Asirvad AUM (Cr) Capital Adequacy Ratio % 31.0% 11,881 10,041 22.8% 8,189 20.8% 20.9% 20.2% 20.2% 19.7% 7,002 6,793 6,793 7,188 FY22 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27 FY22 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27 NPA Analysis % Return Ratios NNPA% GNPA% R
Slide 26: Asirvad Microfinance – Asset Quality
Asirvad Microfinance – Asset Quality Particulars Q1FY27 Q4FY26 Q1FY26 (Rs Cr) MFI Gold MSME Total % MFI Gold MSME Total % MFI Gold MSME Total % Stage 1 4,211 2,233 9 6,454 94.5% 3,992 2,025 12 6,029 94.2% 4,584 1,080 23 5,687 90.3% Stage 2 45 5 2 52 0.8% 56 2 2 60 0.9% 306 17 5 328 5.2% Stage 3 311
Slide 27: Asirvad Microfinance – Stringent Underwriting Checks
Asirvad Microfinance – Stringent Underwriting Checks Number of Microfinance lenders per borrower Total Microfinance and unsecured indebtedness limit of INR 2 Lacs st th Upto 3 lenders : Lender Overlap As on 31 As on 30 st As on 31 Mar, As on 30 June, th Loan Exposure Improved to (Clients %) Mar, 202
Slide 28: Asirvad Microfinance – Strategic Initiatives
Asirvad Microfinance – Strategic Initiatives Upgraded branch quality processes with dedicated personnel and integrated technology - supports smoother customer onboarding, quicker processes and higher traceability Enhanced EWS and customer risk categorization to further enhance customer quality Setup
Slide 29: Asirvad Microfinance – Business and Productivity Metrics
Asirvad Microfinance – Business and Productivity Metrics Asirvad AUM Number of Borrowers (lakhs) AUM/Borrower(Thousands) 35.2 44.2 11,881 41.4 41.4 29.9 10,041 26.3 33.5 33.8 GROWTH 31.1 8,189 6,793 6,793 7,188 16.4 16.4 16.5 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27 FY23 F
Slide 30: Asirvad Microfinance Borrowing Profile
Asirvad Microfinance Borrowing Profile Q1FY27 Q4FY26 Q1FY26 Cost of Borrowings % Particulars Amount % Amount % Amount % 10.2% 10.2% 10.2% 10.2% 10.3% Term loan 4,144 68.3% 4,078 70.0% 4,294 74.9% WCDL/CC 100 1.6% 50 0.9% 0.0% Refinance 481 7.9% 510 8.8% 652 11.4% Debentures 449 7.4% 296 5.1% 25 0.4%
Slide 31: Asirvad – Microfinance Pan India Presence Q1 FY2027
Asirvad – Microfinance Pan India Presence Q1 FY2027 North East State Branch State Branch Bihar 144 MFI Branches- State wise Breakup Uttar Pradesh 156 West Bengal 126 Rajasthan 119 Odisha 102 State Branch% Madhya Pradesh 103 Jharkhand 60 Haryana 41 Assam 32 Tamil Nadu 10.8% Punjab 36 Tripura 31 Uttar
Slide 32: Asirvad – Gold Loan Pan India Presence Q1 FY2027
Asirvad – Gold Loan Pan India Presence Q1 FY2027 North East State Branch State Branch Uttar Pradesh 62 West Bengal 49 Rajasthan 64 Odisha 47 GL Branches- State wise Breakup Madhya Pradesh 41 Bihar 43 State Branch% Haryana 22 Assam 25 Punjab 17 Rajasthan 12.2% Total 164 Delhi 9 Uttar Pradesh 11.8% To
Slide 33: Housing Finance Business Update For Q1 FY2027
Housing Finance Business Update For Q1 FY2027 AUM Evolution (Cr) AUM Mix% ATS (INRL) Yield 1,824 1,852 1,852 1,847 Home Loan LAP 6.0 20.3% 1,510 31% 32% 31% 32% 32% 35% 37% 1,096 845 6.1 17.4% 69% 68% 69% 68% 68% 65% 63% FY22 FY23 FY24 FY25 FY26 Q4 FY26 Q1FY27 FY22 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27
Slide 34: Housing Finance Business Strategy
Housing Finance Business Strategy Growth drivers for future Underwriting expansion • Multi-level loan approval process • Strong parentage and brand providing access to a large customer base • Suite of profile-based assessment templates facilitating data-driven • Continued expansion of branch decisio
Slide 35: Standalone MSME And Allied Business Update for Q1 FY2027
Standalone MSME And Allied Business Update for Q1 FY2027 MSME AUM Contracted Yield (%) 3,351 3,351 3,303 19.0% 18.9% 19.0% 18.8% 3,079 17.7% 2,908 1,945 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 FY23 FY24 FY25 FY26 Q4FY26 Q1FY27 GNPA % Operating Overview 7.1% 6.1% 5.9% • Operations are carried out from exi
Slide 36: MSME and Allied Business – Strategy
MSME and Allied Business – Strategy Stronger in Rural and Products disbursed Predominantly digital Diverse product Large cross-sell CRM tool integrated Semi Urban locations via ~160 branches collections (94%) portfolio covering potential with existing with loan (tier-3 / 4) with further ramp-up secu
Slide 37: Vehicle and Equipment Finance Business Update for Q1 FY2027
Vehicle and Equipment Finance Business Update for Q1 FY2027 AUM Evolution (Cr) AUM MIX (%) CV TW PV 4,773 4,111 18% 26% 31% 34% 34% 34% 2,991 2,991 22% 17% 15% 2,431 2,562 14% 14% 13% 1,643 61% 57% 54% 53% 51% 51% FY22 FY23 FY24 FY25 FY26 Q4 Q1 FY 23 FY 24 FY 25 FY 26 Q4 Q1 FY26 FY27 FY26 FY27 GNPA
Slide 38: Creating a Difference
Creating a Difference Donated a 250 KVA Diesel Generator to Thanal Dialysis Centre, Together for Thrissur 2026 -Extended educational assistance to Contributed ₹10 lakh towards the establishment of the TMA Vatakara, Kozhikode 100 students affected by the loss of one or both parents during Management
Slide 39: Board of Directors
Board of Directors Mr V.P. Nandakumar Dr. Sumitha Nandan Ashish Kotecha Rishi Mandawat Chairman and Managing Director Executive Director & Vice-Chairperson Non-Executive, NID Non-Executive, NID • Postgraduate in Science • MBBS, Rajiv Gandhi University of Science • Partner at Bain Capital • Partner a
Slide 40: Management Team
Management Team Mr V.P. Nandakumar Dr. Sumitha Nandan Buvanesh Tharashankar Manoj Pasangha Rakesh Sharma Chairman & Managing Director Executive Director Group CFO Co-CEO, Asirvad CEO, MAHOFIN • Postgraduate in Science • MBBS, Rajiv Gandhi University • ~30 years in Financial services • ~25 years in F
Slide 41: Shareholding and Stock Performance
Shareholding and Stock Performance Shareholding Pattern as on Top Shareholders holding more than 30th June, 2026 1% (other than promoters) % Stock Data Small World Fund INC 5.49 Market Cap as on 7th Aug , 2026 # ₹ 34,450.15 Cr 18% Government Pension Fund Global 2.24 Stock Price as on 7th Aug , 2026
Slide 42: Thank You
Mr. Susil Kumar Mishra Mr. Buvanesh Tharashankar. Head – Investor Relations & Treasury Group CFO Contact No : +919967405163 Email: buvanesh@manappuram.com Email: susilmishra@manappuram.com Thank You Manappuram Finance Limited, IV / 470 (old) W638A (New), Manappuram House, Valapad, Thrissur Kerala, I