Full Year Profit Up 55.7% At Rs.1,461.8 Crore
Manappuram Finance Ltd., one of India’s leading NBFCs, declared its results for FY 2019-20 today. The company reported a full year consolidated profit after tax of Rs 1,461.8 crore, a sharp increase of 55.7 percent over the previous year’s figure of 938.9 crore. Consolidated net profit for Q4 ended March 31, 2020 stood at Rs.392.7 crore compared to Rs. 274.6 crore recorded in the year-ago quarter.
The Company’s operating income for the year stood at Rs. 5,465 crore, up by 30.8 percent over the previous year’s figure of Rs.4,179 crore.
Profit before tax (PBT) for the fourth quarter was reported at Rs.534 crore as against Rs.409 crore in the corresponding quarter last year. The PBT for the full year increased by 37.8 percent to Rs.2,007 crore from Rs, 1,456.5 crore in the previous fiscal.
Sharing the results with the media, Mr. V.P. Nandakumar, MD & CEO, said: “We ended fiscal year 2019-20 on a strong note, recording good growth in business and profitability in the 4th quarter despite the setback towards the end related to COVID-19. Going forward, we feel we are well positioned to tackle the economic fallout of Covid-19 and maintain the momentum in this year too.”
The Company’s consolidated Assets under Management (AUM) stood at Rs. 25,225 crore, up by 29.8 percent compared to Rs. 19,438 crore in the previous year. Growth was led by gold loans which grew by 30.90 percent to reach Rs.16,967 crore. Gold holding went up from 67.5 tonnes to 72.4 tonnes, an increase of 7.2 percent over the year. Aggregate gold loan disbursements during the year went up to Rs.168,909 crore from Rs.89,649 crore in the previous year. As of March 31, 2020, the number of live gold loan customers stood at 26.2 lakhs.
Besides gold loans, the company’s microfinance subsidiary, Asirvad Microfinance Ltd., also registered impressive growth closing the year with an AUM of Rs 5,503 crore, an increase of 43.3 percent over Rs.3,841 crore reported in the previous fiscal. The Vehicle and Equipment Finance division grew its AUM during the year by 20.6 percent to Rs.1,344.35 crore while the company’s home finance subsidiary contributed Rs. 630 Crore to the total AUM, against Rs.519 crore in the previous year. Overall, the non-gold businesses contributed a share of 32.7 percent to the total portfolio.
The company’s consolidated net worth stood at Rs. 5,745 crore as of March 31, 2020. The book value per share stands at Rs 68 Consolidated earnings per share (EPS) is reported at 17.54 while the capital adequacy ratio (standalone) was maintained at a high level of 23.44 percent. The net NPA position of the Company stood at 0.47 percent, and gross NPA at 0.88 percent, as of March 31, 2020.
| Consolidated( Rs. in Crore) | ||||||||
| Particulars | FY 2019-20 | FY 2018-19 | % Growth | Q4 FY 2020 | Q4 FY 2019 | % Growth | Q3 FY 2020 | % Growth |
| Income from operations | 5,465.32 | 4,179.51 | 30.76% | 1,605.32 | 1,148.05 | 39.83% | 1,399.02 | 15% |
| Profit before tax | 2,007.30 | 1,456.59 | 37.81% | 534.07 | 409.41 | 30.45% | 544.36 | -2% |
| Profit after tax (After minority interest) | 1,461.76 | 938.9 | 55.69% | 392.72 | 274.6 | 43.02% | 397.84 | -1% |
| AUM | 25,225.17 | 19,438.44 | 29.77% | 25,225.17 | 19,438.44 | 29.77% | 24,099.95 | 5% |
| Net Worth | 5,745.08 | 4,524.65 | 26.97% | 5,745.08 | 4,524.65 | 26.97% | 5,413.27 | 6% |
| Return on Assets (%) | 5.90% | 4.60% | 5.70% | 5.20% | 6.30% | |||
| Return on Equity (%) | 28.40% | 22.40% | 28.20% | 23.10% | 30.40% | |||
| No. of branches | 4,622 | 4,351 | 4,622 | 4,351 | 4,623 | |||
| Total no. of employees | 27,726 | 25,610 | 27,726 | 25,610 | 27,237 | |||
| Book value per share | 67.99 | 53.70 | 67.99 | 53.70 | 64.06 | |||
| EPS | 17.54 | 11.26 | 4.72 | 3.29 | 4.77 | |||
| Standalone (Rs. In crore) | ||||||||
| Particulars | FY 2019-20 | FY 2018-19 | % Growth | Q4 FY 2020 | Q4 FY 2019 | % Growth | Q3 FY 2020 | % Growth |
| Profit After Tax | 1,224.86 | 787.66 | 55.51% | 338.17 | 212.47 | 59.16% | 332.44 | 1.72% |
| AUM | 19,121.93 | 15,108.90 | 26.56% | 19,121.93 | 15,108.90 | 26.56% | 18,501.58 | 3.35% |
| Gold loan AUM | 16,967.18 | 12,961.52 | 30.90% | 16,967.18 | 12,961.52 | 30.90% | 16,242.95 | 4.46% |
| Gold Holding (Tonnes) | 72.39 | 67.51 | 7.22% | 72.39 | 67.51 | 7.22% | 73.52 | -1.54% |
| Total Live gold loan customers (in mn.) | 2.62 | 2.40 | 9.10% | 2.62 | 2.40 | 9.10% | 2.64 | -0.63% |
| Gold loans disbursed | 1,68,909.23 | 89,648.55 | 88.41% | 51,912.51 | 27,163.55 | 91.11% | 40,304.26 | 28.80% |
| Capital Adequacy Ratio | 23.44% | 23.65% | 23.44% | 23.65% | 23.36% | |||
| Cost of Fund | 9.29% | 9.07% | 9.46% | 9.27% | 9.12% | |||
| Gross NPA (%) | 0.88% | 0.55% | 0.88% | 0.55% | 0.50% | |||
| Net NPA (%) | 0.47% | 0.32% | 0.47% | 0.32% | 0.22% | |||
| Number of Branches | 3,529 | 3,372 | 3,529 | 3,372.00 | 3,531 | |||
| Comm. Vehicle Loans Division AUM | 1,344.35 | 1,114.61 | 1,344.35 | 1,114.61 | 1,397.40 | |||
| Subsidiaries | – | |||||||
| Microfinance – AUM | 5,502.64 | 3,840.78 | 5,502.64 | 3,840.78 | 43.27% | 5,022.14 | 9.57% | |
| Home Loans – AUM | 629.61 | 518.76 | 629.61 | 518.76 | 21.37% | 601.23 | 4.72% |
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