Manappuram Finance - Non- Gold Portfolio To Support Growth: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.We attended analyst meet hosted by Manappuram Finance Ltd. which showcased each business vertical. The management has maintained the gold loan growth to be in the range of 8%-10% YoY while sustaining gold loan yields at existing levels. Further, they expect to maintain overall return on equity above 20%. The management is of the opinion that the new risk weight norms announced by Reserve Bank of India will not have any significant impact. The share of non-gold loan business has increased to 47% of the total business (in line with the management’s target of 50%). They further reiterated that despite focusing on diversification, gold loan continues to be a major focus area for growth since ~68% of the market is dominated by unorganised players. We maintained estimates and retain ‘Buy’ rating with a target price of Rs 205, valuing it at 1.15 times price/adjusted book value FY26E as competitive intensity eases..Click on the attachment to read the full report:.Manappuram Finance - Non-Gold Businesses Appear Promising If Executed Well: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Manappuram Finance - Non- Gold Portfolio To Support Growth: IDBI Capital

The non-gold loan verticals of the company are seeing a steady increase with their overall share at 47% at the end of Q2FY24.

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Manappuram Finance - Non- Gold Portfolio To Support Growth: IDBI Capital

The non-gold loan verticals of the company are seeing a steady increase with their overall share at 47% at the end of Q2FY24.

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