ANNUAL
REPORT
STANDING STRONG
CONTENTS
01 | Corporate Overview |
Theme Introduction 02 | |
About Manappuram Finance 04 | |
Geographic Presence 06 |
Business Segment Review 08
Message from the MD & CEO 14
Key Performance Indicators 16
Digital Innovation 18
Employee Initiatives 21
Branding and Marketing 24
Board of Directors 26
Corporate Social Responsibility 28
31 | Statutory Reports |
Management Discussion and Analysis 31 | |
Business Responsibility Report 50 | |
Board's Report 58 |
Corporate Governance Report 115
139Financial Statements
Standalone Financial Statements 139
Consolidated Financial Statements 241
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Business Segment Review
High-quality and Diversified Portfolio
Pg. 8
Message from the MD & CEO
Pg. 14
Branding and Marketing
Building a Stronger and Trusted Brand
Pg. 24
Tribute to
V. C. Padmanabhan
Shri V. C. Padmanabhan belonged to the coastal fishing village of Valapad in Malabar district of the erstwhile
Madras Presidency. He was committed to uplifting the economically weaker sections of the society, particularly, the farmers, fishermen and agricultural laborers in his community. In 1949, he decided to help the people of his village by setting up his own small business of providing loans against the security of jewelry at affordable rates to those who did not have the capacity to approach banks. Thus, began the story of Manappuram Finance Limited (MAFIL).
From then until now, the Company has won the trust of many customers and has played a pivotal role in taking
organized lending to underprivileged people.
Driven by Shri Padmanabhan's values of trust and integrity, Manappuram Finance Limited is transitioning to a full-fledgednon-banking financial company (NBFC) that will continue to exceed customer expectations and help them fulfill their aspirations. Our core strengths of customer centricity, stakeholder integrity and quick adoption of top-notch technology for seamless operations will help us stay ahead of the curve.
We will always look up to Shri Padmanabhan and stay true to his
values for all our endeavors.
2
The last two years have been extraordinary with challenges of an unprecedented scale. These were times when our stakeholders, especially our customers who are primarily from the lesser privileged sections, needed us the most.
At Manappuram Finance, we were faced with the dilemma of protecting the business as well as the interest of our stakeholders. We took inspiration from our rich 70+ years legacy which has been a symbol of resilience, having braved multiple challenges and cycles backed by a solid foundation, and dedication to all stakeholders and the nation.
We did what we have always done.
STANDING
STRONG
TOGETHER
WITH OUR
PEOPLE.
Corporate Overview | Statutory Reports | Financial Statements | Annual Report 2021-22 | 3 |
We stood by our customers, continuing to conduct business activities despite the difficulties and leveraged the power of our balance sheet to meet their financing needs and help them see through the crisis. We used the power of digital and doorstep lending models as well as the commitment of our employees to be always available for them.
We stood by our employees, giving them the assurance of a safe work environment and employment security. We supported them with work from home, met their well-being needs and temporarily withdrew field visits at the peak of the pandemic. We stood by the communities, undertaking various outreach programs to help those most impacted.
At the same time, we conducted business responsibly to ensure a profitable growth while maintaining the integrity of our balance sheet to ensure sustained value creation for our shareholders and for us.
This is the Manappuram Finance legacy. We will continue to nurture it and build a stronger company that grows together with its customers, employees, shareholders and communities at large.
HOW WE DELIVERED VALUE IN FY 2021-22
- 13,47,536 million
Total lending to customers
- 10,098.34 million
Salaries and wages paid to employees alongside ensuring no retrenchment, high engagement and satisfaction levels
- 15.68 million
Spent on community development initiatives
- 13,287.05 million
PAT, ensuring a profitable growth for shareholders