Manba Finance Ltd

NCD Allotment Details

• Issuer: Manba Finance Limited allotted 9,000 NCDs aggregating ₹90 crore.
• Instrument: 10.60% rated, unsubordinated, secured, transferable, redeemable NCDs.
• Issuance: Private placement basis.
• Size: 9,000 NCDs of ₹1,00,000 each.
• Listing: NCDs proposed to be listed on BSE-WDM.
• ISIN: INE939X07267.
• Tenor: 27 months and 4 days.
• Date of allotment: 24-08-2026.
• Maturity date: 28-11-2028.
• Coupon: 10.60%.
• Security: first ranking charge on receivables.
• Hypothecated book debts at 1.1x of outstanding.
• Delay: 2.00% over coupon until cure.
• Redemption: per Debenture Trust Deed.

Meeting Details

• Date: July 28, 2026; Time: not disclosed.
• Type and mode: group earnings conference call; virtual audio.
• Event/organiser: Manba Finance earnings conference call.

Participants

• Key company participant: Company Secretary and Compliance Officer.

Purpose

• Discuss unaudited standalone Q1 FY2027 results for quarter ended June 30, 2026.

Additional Notes

• Audio recording of the conference call available on company website.

Business Overview

• NBFC offering 2W/3W/EV financing, used cars, MSME LAP, and personal loans.
• AUM INR 17,308 Mn; 95% secured; presence across 7 states with 1,784 dealers.
• Credit ratings BBB+ (Positive) and ACUITE A-.
• Footprint across 7 states, 134 locations, and 1,956 employees.
• 3-year CAGR: AUM 39.29%, NII 33.20%, PAT 39.85%.
• Q1-FY27: revenue INR 926 Mn; PAT INR 133 Mn; EPS INR 2.64.

Operational Highlights

• Disbursements grew 37% YoY to INR 2,263 Mn.
• Expanded South India footprint; Karnataka launch via Nammaloan; Tamil Nadu phased.
• MSME LAP launched, diversifying into secured MSME lending.
• Branch network expanded to 134 locations; dealer network to 1,784.
• Largest lending partner: State Bank of India; Muthoot co-lending; TVS Motor 3W MoU.
• LOS upgrade; AI onboarding; sub-60-second approvals; 95% digital processing; 100% paperless journey.
• In-house collections with 400+ staff; 3-tier recovery model; proactive legal action.

Financial Performance

• Net Interest Income 416 Mn; interest income 851; finance cost 435; NIM 12.13%.
• Total income 491 Mn; operating expenses 330; PBT 161; tax 28; PAT 133.
• AUM 17,308 Mn; gross NPA 3.41%; NNPA 2.52%.
• CAR 26.00%; ROE 24.40%; ROA 2.63%.
• Disbursements 2,263 Mn; total revenue 926 Mn; EPS 2.64.

Capital Structure & Liquidity

• Debt structure: debt securities INR 4,829 Mn; borrowings (other) INR 10,658 Mn.
• Total financial liabilities ~INR 15,630 Mn; cash and cash equivalents INR 1,778 Mn.
• Raised INR 6.5 Bn via NCDs over the last two years at 10.5% ROI.
• Diversified funding with 25+ banks and financial institutions.

Strategic Priorities & Outlook

• Geographic expansion into South India; Karnataka launch; Tamil Nadu phased.
• Focus on EV2W/EV3W financing; expand used car and micro-LAP segments.
• Technology-led acceleration: LOS upgrade, AI onboarding, faster approvals.
• Brand initiatives and dealer engagement to attract new customers.

Governance & Leadership

• MD: Manish Shah; WTDs: Nikita Shah, Monil Shah, Jay Mota.
• Independent directors: Sujay Jagani, N. Parameswaran, Neelam Tater, Abhinav Sharma.
• No governance changes announced.

Risks & Mitigation

• Asset quality guarded by 95% secured AUM and robust in-house collections.
• New market expansion introduces credit risk; mitigated by risk scoring and diversified funding.

Financial and strategic highlights

• Revenue from operations rose to ₹92.6 crore, up 34% YoY.
• Net interest income was ₹41.6 crore, up 36% YoY.
• Profit before tax was ₹16.1 crore, up 32% YoY.
• Profit after tax was ₹13.3 crore, up 36% YoY.
• Earnings per share stood at ₹2.64, up from ₹1.94.
• AUM at ₹1,730.8 crore, up ~22% YoY.
• Net worth ₹423 crore; CRAR 24.40%.
• GNPA 3.41%; NNPA 2.52%, both improved.
• Interim dividend ₹0.25 per share; record date 7 Aug 2026; payout by 20 Aug 2026.
• Entry into South India via partnership with Sreesastha (Karnataka & Tamil Nadu).
• EV and rural financing partnerships with AMU Leasing and SHFIN.
• New Battery Replacement Financing launched for lithium-ion batteries of e-vehicles.
• AUM growth guidance: 35–40% for the year.
• Auditors issued unmodified opinion; no NPA transfers; full asset cover on listed NCDs.

Record Date Details

• Purpose: Record date for entitlement to the first interim dividend for FY 2026-27.
• Security: Equity shares.
• Record date: Friday, 07 August 2026.
• Dividend, if any, to be declared by the Board.

Dividend details

• Dividend type: First Interim Dividend on equity shares.
• Dividend per share: ₹0.25.
• Face value: ₹10 per share.
• Financial year: FY 2026-27.
• Record date: 7 August 2026.
• Payment date: on or before 201h August 2026.

Meeting Details

• Date and time: Tuesday, 28 July 2026 at 14:00 IST
• Type/mode: group virtual earnings conference call with investors/analysts
• Organizer: DAM Capital Advisors Ltd for Manba Finance Q1-FY27 Conference Call
• Audience: investors and analysts

Participants

• Managing Director to present
• Executive Director & Chief Financial Officer to present

Purpose

• Discuss Q1 FY27 results and operations for quarter ended 30 June 2026

Additional Notes

• Audio recording and transcript will be published on the company website

Strategic expansion

• Manba Finance announced entry into South India through a strategic partnership with Sreesastha (Nammaloan).
• Karnataka will be the first market, followed by Tamil Nadu within the current financial year.
• The company plans phased expansion into other South Indian states thereafter.

Products and operations

• The partnership will initially offer new and used two-wheeler loans, three-wheeler loans, and used car loans.
• Manba identified over 100 potential locations for progressive activation across the region.
• The lending platform offers in-principle approvals in as little as one minute and a paperless journey.

Financial and business profile

• Manba reported AUM of over ₹1,700 crore as of 31 March 2026.
• The company operates across 6 states and 130+ locations, serving 1,500+ dealer points.
• Manba has served more than 1 million customers and offers six major loan products.

Leadership

• The South India venture is led by four senior leaders with over 100 years of combined automobile-lending experience.

Management outlook

• Management said the expansion will be disciplined and focused on building a durable, well-underwritten book.

Strategic partnerships

• Manba Finance announced partnerships with AMU Leasing and SHFIN.
• The deals expand its EV financing and rural lending presence.

Business impact

• AMU Leasing partnership supports electric three-wheeler and commercial EV financing in Uttar Pradesh and Madhya Pradesh.
• SHFIN partnership expands two-wheeler financing in Vidarbha, Maharashtra.
• The company aims to improve credit access, faster disbursements, and simplified loan processes.

Management outlook

• Management said the collaborations support sustainable mobility and deeper reach in rural Bharat.