Manappuram Finance Ltd

Resignation: Digbijay Bandyopadhyay

• Digbijay Bandyopadhyay resigned as Business Head – CV Finance (VP) effective Sep 15, 2026 for personal reasons.

Resignation: Ajay Bhalchandra Shelke

• Ajay Bhalchandra Shelke resigned as Business Head – Two-Wheeler Finance, effective Sep 16, 2026 for personal reasons.

Resignation of Senior Management

• Kamal P Parmar, Business Head Commercial Vehicle Finance (SVP), resigns effective Sep 1, 2026 for personal reasons.

Financial Performance

• Consolidated AUM: INR 69,635 cr; +9% QoQ; +57% YoY.
• Gold loan AUM: INR 57,006 cr; +12% QoQ; +98% YoY; 82% of consolidated AUM.
• Consolidated revenue: INR 3,033 cr; +16% QoQ; +34% YoY.
• PAT: INR 585 cr; +45% QoQ; +47% YoY.
• Stand-alone AUM: INR 60,971 cr; +9% QoQ; +70.8% YoY.
• Stand-alone gold loan AUM: INR 54,655 cr; +12% QoQ; +97.4% YoY.
• Stand-alone PAT before OCI: INR 552 cr; +47% QoQ; +41% YoY.
• Interim dividend: INR 1 per share.

Segment Trends

• Gold loan remains growth engine; online gold loans 86% of gold book.
• Asirvad AUM: INR 7,188 cr; PAT before OCI: INR 21 cr; GNPA 1.4%; CRAR 31%.
• Vehicle finance AUM: INR 2,562 cr; GNPA 13.3%; QoQ -14.3%.
• MSME and allied: disbursed INR 191 cr; GNPA 5.9%.
• Home loans: INR 1,847 cr; flat QoQ; -3% YoY.

Balance Sheet & Liquidity

• CRAR: 21.29%; Net worth: INR 16,552 cr; Book value per share: INR 176.20.
• Interim dividend declared: INR 1 per share.

Guidance & Outlook

• Gold loan yield expected around 18% (±25 bps).
• Gold loan growth FY27: around 25-30%.
• Branch openings FY27: around 500; includes Asirvad.
• ROA target: 3.5-4%; ROE target: 15-18% over 3 years.
• Cost of funds: incremental around 8.8%-9%.

Q&A Highlights

• RBI LTV changes: income-generating loans up to 85% LTV; EMI-based; interest 14-16%.
• Pricing actions lifted yields; expected ~18% yield; not due to disbursal mix.
• Branch openings: expect 500; initial months slower, second quarter pickup.
• Asirvad: Q4 one-offs; Q1 provisions normalized.
• Co-lending: plan to co-lend with banks for Manappuram Housing Finance.
• ROA/ROE trajectory: ROA 3.5-4%; ROE 15-18%; ROE ~18% in 3 years.

AGM Details

• Date and time: 12 Aug 2026 at 11:00 AM.
• Mode: physical meeting with remote e-voting.
• Record date: 05 Aug 2026.
• Shareholders on record: 531,570.
• Attendance: Promoters 4, Public 585 present.
• Resolutions passed: 2.

Key Resolutions

• Adoption of financial statements for year ended 31 March 2026 — Passed; 99.999% assent.
• Appointment/re-appointment of Dr Sumitha Nandan as director — Passed; 87.57% assent.
• Appointment of Auditors for financial statements — Passed; no dissent noted.

Issue Overview

• Type of issue: Preferential issue of equity shares and warrants convertible into equity.
• Total issue size disclosed; net proceeds not stated; allocations revised within permissible +/-10%.
• Warrant proceeds largely outstanding; about three-quarters yet to be received.
• Use objectives: Capex, growth capital, strengthening balance sheet, onward lending, general corporate purposes.
• GCP object noted; MA indicates GCP utilization data not applicable.

Utilisation of Proceeds

• Utilisation as per disclosures: Yes, per monitoring agency.
• Deviations/reallocation: Rs 116.06 crore moved from object 2 to object 1; board approved 04 May 2026.
• Object-wise utilisation: 1a NIL; 1b 845.79; 1c 60.16; 2 314.03; 3 NIL.
• Total unutilised funds at quarter end: 1,718.99 crore.
• Unutilised funds status: parked in fixed deposits and monitoring/current accounts.
• Warrant proceeds outstanding: 75% yet to be received.

Governance and Compliance

• Approvals obtained: EGM-based approvals and management undertakings; board approved revision May 04, 2026.
• Utilisation as per disclosures: Yes; no material deviations reported.
• Material events affecting viability: Outstanding warrant receipts; conversion window 4–18 months.
• Warrant terms: issue price Rs 236; market price around Rs 363.55 as of Aug 6, 2026.
• Reliance on management undertaking; MA not auditing; no fiduciary relationship.

General Corporate Purpose (GCP)

• GCP: Not applicable; no data on GCP usage or board approvals for allocation.

AGM details

• Date/time: 12 August 2026, 11:00 AM; Mode: Physical at Thrissur venue.
• Quorum: Requisite quorum satisfied.

Key resolutions

• Adoption of standalone and consolidated financial statements for FY ended Mar 31, 2026.
• Ordinary resolution for re-appointment of Dr Sumitha Nandan as director liable to retire by rotation.

Voting & results

• Outcomes pending; e-voting results to be intimated separately.
• Resolutions to be deemed passed with requisite majority at AGM.

Dividend

• Dividend not proposed or declared in this AGM.

Directors & auditors

• Director: Dr Sumitha Nandan for re-appointment (ordinary).
• Statutory auditors attended; no appointment or tenure changes disclosed.

Related party transactions

• No material RPTs disclosed.

Other material approvals

• No other material approvals disclosed.