Q4 2024 Manappuram Finance Ltd Earnings Call Transcript
Key Points
- Manappuram Finance Ltd (BOM:531213) reported a net profit of INR564 crore, marking a 35.7% year-on-year improvement.
- Gold loan AUM increased by 8.9% year-on-year to INR21,500 crore.
- The company's microfinance subsidiary, Asirvad, posted an AUM of INR11,881 crore, showing an 18% year-on-year growth and a profit increase of 105% over the previous financial year.
- Vehicle finance business recorded a 69% year-on-year increase in AUM, reaching INR4,111 crore.
- The company maintains a strong capital position with a CRAR of 30.6% and a consolidated net worth of INR11,548 crore.
- The borrowing cost increased by 16 basis points in Q4 FY24, impacting overall profitability.
- The company's standalone profit after tax was slightly down quarter-on-quarter.
- Microfinance business faced challenges in states like Punjab and Rajasthan, affecting collection efficiency and profitability.
- The GNPA for the MSME segment rose from 1.5% to 2.8%, indicating asset quality issues.
- Digital personal loans showed higher delinquency rates, leading to a tightening of underwriting processes and reduced disbursals.
Ladies and gentlemen, good day, and welcome to the Manappuram Finance Limited Q4 and FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Abhijit Tibrewal with Motilal Oswal. Please go ahead.
Yeah. Thank you, Ryan. Good evening, everyone. Welcome to the conference call to discuss the Q4 FY24 results of Manappuram Finance. We have the senior management team of Manappuram Finance with us today, represented Mr. V.P. Nandakumar, MD and CEO; Dr. Sumitha Nandan, Executive Director; Ms. Bindhu A.L., the Chief Financial Officer; Mr. BN Raveendra Babu, MD, Asirvad Microfinance; Mr. Rajesh Namboodiripad, CFO, Asirvad Microfinance; Mr. Basavraj Shetty, Senior VP and Head IR, Asirvad Microfinance; Mr. Kamal Parmar, who is heading the vehicle and equipment finance business; Mr. Suveen P.S., CEO of Manappuram Home Finance; and Mr. Robin Karuvely, CFO, Manappuram Home Finance.
With these opening remarks, I hand over the call
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