NSE: MANAPPURAM | BSE: 531213

Mid-range Performer

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269.25 -12.75 (-4.52%)

35.98% Gain from 52W Low

6.8M NSE+BSE Volume

NSE 04 Mar, 2026 3:31 PM (IST)

22,790.3

Market Cap

High in industry

Beta 1Year

High Volatility

Manappuram Finance Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MANAPPURAM, BSE:531213 Manappuram Finance Ltd.

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Manappuram Finance Ltd.

16 Feb 2026

269.25

-4.52%

Maintain thesis: Future prospects + valuations > history

Buy: Manappuram Finance Ltd.

Target

ICICI Securities Limited

We find the future prospects promising for Manappuram with a new strategic direction for the business, which entails new management, lower MFI mix, better asset quality management and high growth/low yield in core gold business.

Manappuram Finance L.. has an average target of 304.40 from 5 brokers.

Manappuram Finance Ltd.

30 Jan 2026

269.25

-4.52%

Manappuram Finance: Q3FY26 Result Review

Hold: Manappuram Finance Ltd.

Target

IDBI Capital

Manappuram Finance Limited reported a stable Q3FY26 performance, reflecting steady execution in its core gold loan franchise and continued consolidation across non-gold portfolios. Consolidated AUM up 13.8% QoQ, driven largely by a sharp recovery in gold loans, while profitability remained moderate amid conservative provisioning and portfolio clean-up. Gold loan AUM rose 23% QoQ, supported by favourable gold prices, faster price transmission and healthy customer demand, reinforcing gold loans as the primary growth driver. Consolidated PAT for the quarter was Rs239 crore, while standalone PAT stood...

Number of FII/FPI investors decreased from 310 to 284 in Dec 2025 qtr

Manappuram Finance Ltd.

29 Jan 2026

269.25

-4.52%

Strong gold loan growth; NIM likely to bottom out in 4Q

Neutral: Manappuram Finance Ltd.

Target

Motilal Oswal

MGFL consol. PAT declined 14% YoY to INR2.4b in 3QFY26 (in line). NII declined ~18% YoY to ~INR13b (in line) and PPoP declined ~29% YoY to ~INR6.6b (~5% beat).

Manappuram Finance Ltd. is trading below all available SMAs

Manappuram Finance Ltd.

31 Oct 2025

269.25

-4.52%

Gold loan growth strong but NIM compression continues

Neutral: Manappuram Finance Ltd.

Target

Motilal Oswal

MGFL reported consol. PAT of INR2.2b in 2QFY26 (12% beat). NII declined ~16% YoY to ~INR13.8b (in line) and PPoP declined ~35% YoY to ~INR6.7b (in line). Operating expenses grew 6% YoY to ~INR7.4b (in line).

Manappuram Finance Ltd. is trading below all available SMAs

Manappuram Finance Ltd.

10 Sep 2025

269.25

-4.52%

MANAPPURAM FINANCE LIMITED

Sell: Manappuram Finance Ltd.

Recommendation Target

Geojit BNP Paribas

We expect yield compression to persist in the medium term as the company pivots toward secured lending to enhance competitiveness and attract high-value clients. Asset quality in the gold loan segment remains stable, supported by strong gold prices. However, risks in the nongold portfolioparticularly MFI, MSME, and vehicle financeremain elevated. Near-term credit cost pressures are likely to continue, though improved employee incentives may support recoveries and offset provisioning risks. As the company navigates its stabilization phase, improvements are expected to unfold gradually. Given the recent price hike and stretched...

Manappuram Finance L.. has an average target of 304.40 from 5 brokers.

Manappuram Finance Ltd.

11 Aug 2025

269.25

-4.52%

Future prospects + valuations > history

Buy: Manappuram Finance Ltd.

Target

ICICI Securities Limited

We put Manappuram Finance (Manappuram) in this framework to upgrade the stock, from Hold, to BUY. We find future prospect promising with a new strategic direction for the business, which entails new management, lower MFI mix, better asset quality management and high growth and low yield in core gold business.

Manappuram Finance L.. has an average target of 304.40 from 5 brokers.

Manappuram Finance Ltd.

11 Aug 2025

269.25

-4.52%

Result Update:Manappuram Fin.

Hold: Manappuram Finance Ltd.

Recommendation Target

Axis Direct

We revise our rating from BUY to HOLD

ICICI Securities Limited increased Buy price target of Manappuram Finance Ltd. to 355.0 on 16 Feb, 2026.

Manappuram Finance Ltd.

11 Aug 2025

269.25

-4.52%

Manappuram Finance: Q1FY26 Result Review

Hold: Manappuram Finance Ltd.

Recommendation Target

IDBI Capital

Manappuram Finance's gold loan portfolio grew by 22% YoY (vs 19% YoY FY25) backed by higher gold prices. However, MFI portfolio declined by 51% YoY (down 23% QoQ) due to strategy change. Thus, overall AUM de-grew by 1% YoY vs +2% YoY (FY25). We expect 13% CAGR (FY25-27E) AUM growth led by gold portfolio. MFI losses declined during the quarter due to decline in provisions. MFI asset quality improved with GNPA at 4.4% vs 8.5% QoQ led by lower slippages. Cons. NII declined by 10% YoY led by lower NIMs; PPoP declined by 33% YoY led by lower other income (down 77% YoY). Reported profit vs loss QoQ led by lower...

Manappuram Finance L.. has an average target of 304.40 from 5 brokers.

Manappuram Finance Ltd.

10 Aug 2025

269.25

-4.52%

Strong gold loan momentum tempered by yield compression

Neutral: Manappuram Finance Ltd.

Target

Motilal Oswal

MGFL reported 1QFY26 consol. profit of INR1.3b. NII declined ~10% YoY to ~INR13.8b (in line) and PPoP fell ~33% YoY to ~INR6.6b (in line).

Manappuram Finance Ltd. is trading below all available SMAs

Manappuram Finance Ltd.

04 Jun 2025, 12:00AM

269.25

-4.52%

MANAPPURAM FINANCE LIMITED

Hold: Manappuram Finance Ltd.

Target

Geojit BNP Paribas

We expect a short-term yield contraction as the company shifts toward secured lending and aims to attract high-ticket clients. The downward revision in earnings forecasts reflects changes in the equity structure. Although the shift in lending strategy may pressure asset quality in the near term, improved employee incentives could aid recoveries and help offset provisioning risks. With the ongoing restructuring and Bain Capital's involvement, we foresee enhancements in process discipline and cost control. Given the short-term stabilization phase, this may take time. We revise our rating to...

ICICI Securities Limited increased Buy price target of Manappuram Finance Ltd. to 355.0 on 16 Feb, 2026.

Is Manappuram Finance Ltd. worth buying?

1095 Votes:

Buy 82.74%

Sell 10.32%

Hold 6.94%

RESEARCH REPORTS

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