Manappuram Finance Limited · NSE:MANAPPURAM
Manappuram Finance — Q1 FY2025 Earnings Presentation
35 slides from Manappuram Finance's earnings presentation, August 2024
Slide 1: Manappuram Finance Limited Investor Presentation Q1 FY2025
MANAPPURAM FINANCE LIMITED Investor Presentation | Q1 - 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: 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 Q1 FY2025
FINANCIAL HIGHLIGHTS Q1 - FY2025
Slide 6: Key Performance Highlights for Q1 FY2025
KEY PERFORMANCE HIGHLIGHTS FOR Q1 FY2025 Consolidated Business Performance: • Consolidated AUM for QE June 24 was INR 449 bn representing a 6.8% growth sequentially and 21.2% YoY growth Q1 FY25 11.7% YoY • Consolidated PAT for Q1 FY25 was INR 5,565 mn , up by 11.7% YoY and down by 1.2% QoQ Increase
Slide 7: Consolidated Financial Overview Q1 FY2025
CONSOLIDATED FINANCIAL OVERVIEW – Q1 FY2025 Particulars (Rs. Mn) Q1 FY25 Q4 FY24 Q-o-Q Q1 FY24 Y-o-Y FY24 FY23 Y-o-Y Consolidated AUM (Rs. Bn) 449 421 6.8% 371 21.2% 421 354 18.7% Net Interest Income 16,399 15,806 3.8% 13,779 19.0% 59,823 45,095 32.7% OPEX 6,823 6,497 5.0% 6,068 12.4% 25,165 22,140
Slide 8: Consolidated Operational Overview Q1 FY2025
CONSOLIDATED OPERATIONAL OVERVIEW – Q1 FY2025 Particulars (Rs. Mn) Q1 FY25 Q4 FY24 Q-o-Q Q1 FY24 Y-o-Y Gold AUM (Rs. Bn) 236 216 9.7% 198 19.2% Gold Tonnage 59.59 58.84 1.3% 59.48 0.2% Gold Branches (Nos) 4,044 4,044 0.0% 4,039 0.1% Gold Customers (In Mn) 2.60 2.51 3.6% 2.41 7.7% Non-Gold AUM (Rs. B
Slide 9: AUM Mix for Q1 FY2025
AUM MIX FOR Q1 FY2025 Q1 FY25 Q4 FY24 Q1 FY24 7% 6% 2% 2% 7% 2% 10% 7% 10% 3% 4% 4% 53% 51% 56% 25% 25% 26% Gold MFI HFC VEF Onlending MSME Gold MFI HFC VEF Onlending MSME Gold MFI HFC VEF Onlending MSME Particulars (Rs. Mn) Q1 FY25 Q4 FY24 Q-o-Q Q1 FY24 Y-o-Y Gold 2,36,473 2,15,611 9.7% 2,06,032 14
Slide 10: Consolidated Profit & Loss Statement for Q1 FY2025
CONSOLIDATED PROFIT & LOSS STATEMENT FOR Q1 FY2025 Particulars (Rs. Mn) Q1 FY25 Q4 FY24 Q-o-Q Q1 FY24 Y-o-Y FY24 FY23 Y-o-Y Closing AUM (Rs. Bn) 449 421 6.8% 371 21.2% 421 354 18.7% Income from Operations 24,882 23,598 5.4% 20,263 22.8% 88,480 66,973 32.1% Finance expenses 8,483 7,792 8.9% 6,484 30.
Slide 11: Consolidated Balance Sheet for Q1 FY2025
CONSOLIDATED BALANCE SHEET FOR Q1 FY2025 Particulars (Rs. Mn) Jun-24 Mar-24 Q-o-Q Jun-23 Y-o-Y Cash & Bank Balances 53,833 31,812 69.2% 24,520 119.5% Investments 8,297 7,263 14.2% 5,506 50.7% Loans & Advances 4,39,132 4,09,476 7.2% 3,53,569 24.2% Fixed Assets 4,836 4,737 2.1% 4,588 5.4% Other Assets
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 Q1FY25 Q4 FY24 Q1 FY24 9.3% 9.3% 8.9% 9.1% 8.9% Particulars Amount % Amount % Amount % WCDL / CC 78,822 20% 76,39
Slide 13: Standalone Result Analysis Q1 FY2025
STANDALONE RESULT ANALYSIS Q1 FY2025 GOLD LOAN AUM (Rs. Bn) NET PROFIT (Rs. Mn) 16,979 16,578 226 199 207 198 200 199 207 191 190 13,045 12,663 170 12,303 4,406 4,286 4,283 4,199 3,809 FY20 FY21 FY22 FY23 FY24 Q1 Q2 Q3 Q4 Q1 FY20 FY21 FY22 FY23 FY24 Q1 Q2 Q3 Q4 Q1 FY24 FY24 FY24 FY24 FY25 FY24 FY24
Slide 14: Standalone Result Analysis Q1 FY2025
STANDALONE RESULT ANALYSIS Q1 FY2025 NET Y I ELD (% ) O PEX T O AUM % 25.4% 24.9% 7.2% 22.2% 21.9% 22.3% 21.7% 21.8% 7.0% 20.9% 21.4% 21.9% 6.9% 6.6% 6.5% 6.4% 6.4% 6.4% 6.2% 6.1% FY20 FY21 FY22 FY23 FY24 Q1 Q2 Q3 Q4 Q1 FY20 FY21 FY22 FY23 FY24 Q1 Q2 Q3 Q4 Q1 FY24 FY24 FY24 FY24 FY25 FY24 FY24 FY24
Slide 15: Standalone Borrowing Profile for Q1 FY2025
STANDALONE BORROWING PROFILE FOR Q1 FY2025 Access to diversified sources of Funding (Rs. Mn) COST OF BORROWING % Borrowing Mix Q1 FY25 Q4 FY24 Q1 FY24 8.8% 9.0% Particulars Amount % Amount % Amount % 8.5% 8.7% 8.3% WCDL/CC 78,655 30% 76,218 34% 76,504 39% Term Loan 1,04,375 39% 95,328 42% 76,469 39%
Slide 16: Segmental Performance
SEGMENTAL PERFORMANCE
Slide 17: Gold AUM Update for Q1 FY2025
GOLD AUM UPDATE FOR Q1 FY2025 AVG. LOAN TICKET SIZE (Rs ‘000) CUSTOMER BASE (Mn) GOLD AUM PER BRANCH (Rs. Mn) AVG. LOAN TICKET SIZE (Rs ‘000) 2.60 2.59 Customer Base CAGR:4% 75 2.65 58.8 62.1 58.5 58.5 2.60 65 56.6 57.5 57.6 57.4 2.55 2.45 64.2 2.50 44.6 55 2.37 2.38 2.38 2.45 54.1 56.4 54.0 58.6 56
Slide 18: Gold Loan Growth Levers
GOLD LOAN GROWTH LEVERS Online Gold Loan Digital Marketing Low interest rate sensitivity given small ticket size, short tenor and convenience of product Local Marketing Activities Gold Loan Growth Celebrity Endorsement Manappuram has undertaken various cost Levers rationalization initiatives Busines
Slide 19: Gold Loan Pan India Presence Q1 FY2025
GOLD LOAN PAN INDIA PRESENCE Q1 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 73.8 75.0 71.7 69.4 69.7 71.7 70% 63.3 54% 57% 55% 56% 56% 57% 50.2 53.0 50% 48% 44% FY20 FY21 FY22 FY23 FY24 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 FY20 FY21 FY22 FY23 FY24 Q1FY24 Q2FY24 Q3FY24 Q
Slide 21: Asirvad Microfinance Results for Q1 FY2025
ASIRVAD MICROFINANCE RESULTS FOR Q1 FY2025 Particulars (Rs. Mn) Q1 FY25 Q4 FY24 Q-o-Q Q1 FY24 Y-o-Y FY24 FY23 Y-o-Y Total Revenue from Operations 7,530 7,257 3.8% 6,371 18.2% 26,813 17,152 56.3% Finance Cost 2,730 2,599 5.1% 2,172 25.7% 9,474 6,298 50.4% Net Interest income 4,800 4,658 3.0% 4,198 14
Slide 22: Asirvad Microfinance Results for Q1 FY2025
ASIRVAD MICROFINANCE RESULTS FOR Q1 FY2025 CAPITAL ADEQUACY RATIO % 25.4% 24.5% 23.3% 22.8% 22.6% 23.2% 22.8% 20.8% 21.8% 19.7% FY20 FY21 FY22 FY23 FY24 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 NPA ANALYSIS % * GNPA% NNPA% 3.7% 3.7% # COVID Impact 3.5% 2.8% 2.9% 3.0% 3.0% 2.8% 2.5% 1.6% 1.7% 1.7% 1.3% 1.4
Slide 23: Housing Finance Business Update for Q1 FY2025
HOUSING FINANCE BUSINESS UPDATE FOR Q1 FY2025 AUM EVOLUTION (Rs. Mn) Home Loan AUM MIX (%) CAGR:19% 15,874 15,097 15,097 LAP ATS (INRL) Yield 14,153 13,049 28% 30% 31% 31% 31% 31% 32% 34% 12,026 10,958 6.2 20.6% 8,453 6,296 6,663 72% 70% 69% 69% 69% 69% 68% 66% 6.1 17.4% FY20 FY21 FY22 FY23 FY24 Q1
Slide 24: 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 25: Vehicle and Equipment Finance Business Update for Q1 FY2025
VEHICLE AND EQUIPMENT FINANCE BUSINESS UPDATE FOR Q1 FY2025 ATS (INRL) Yield AUM MIX (%) AUM EVOLUTION (Rs Mn) CV TW PV 45,413 CAGR:25% 41,109 41,109 20%10% 4.9 18% 35,974 22% 18% 17% 18% 18% 22% 18% 24% 17% 25% 17% 25% 17% 26% 17% 26% 16% 28% 31,432 27,792 24,308 16,432 0.8 22% 13,443 10,526 70% 65
Slide 26: 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 27: Standalone MSME and Personal Loans Business Update for Q1 FY2025
STANDALONE MSME AND PERSONAL LOANS BUSINESS UPDATE FOR Q1 FY2025 AUM EVOLUTION (Rs Mn) AUM MIX (%) MSME Micro-Housing Secured PL Unsecured PL ATS (INRL) Yield 29,460 29,085 29,085 28,576 CAGR:83% 5% 7% 26,388 11% 12% 13% 12% 12% 9% 0.2 26% 18% 23,196 19% 20% 17% 18% 17% 18% 19% 19,447 4.2 20% 33% 36
Slide 28: 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 29: 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 30: 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 31: 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 32: 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 33: 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 34: Shareholding and Stock Performance
SHAREHOLDING AND STOCK PERFORMANCE Shareholding Pattern as on 30th June, 2024 Top Shareholders holding Stock Data more than 1% (other than % 23% promoters) Market Cap as on 12 August-24 ₹ 17,730 Crs Small World Fund INC 2.06 Stock Price as on 12 August-24 209.92 35% 1% DSP Small Cap Fund 1.48 52 Wee
Slide 35: 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