Manappuram Finance Ltd is a leading non-banking financial company (NBFC) in India, primarily known for its gold loan business—the second-largest in the country. Headquartered in Kerala, the company has expanded into housing finance, loans against property, microfinance, and vehicle financing. With a strong rural and semi-urban presence, Manappuram benefits from high asset quality, low NPAs, and consistent profitability. Despite a modest 7.57% YoY profit growth in FY2025 due to margin compression in gold loans, the company maintains healthy return ratios and a robust balance sheet. This article provides a data-backed outlook on the Manappuram Finance share price target 2026–2030.
Manappuram Finance Ltd: Company Overview
- Founded: 1949
- Headquarters: Valapad, Thrissur, Kerala
- Key Segments: Gold Loans (70%+ of AUM), Housing Finance, LAP, Microfinance
- Market Position: #2 gold loan NBFC in India; operates over 3,000 branches
- Ownership: Promoter-held (35.25%), with strong institutional backing (FII + DII: ~40%)
Manappuram’s asset-light model, quick loan disbursal, and digital initiatives (e.g., “MFIN” app) enhance customer reach and operational efficiency. The company also runs money exchange services and remittance operations under the “Unimoni” brand.
Manappuram Finance Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹292.00 |
| Market Capitalization | ₹24,686.27 Cr |
| No. of Shares Outstanding | 84.64 Cr |
| 52-Week High / Low | ₹285 / ₹138* (*Note: 52-week high likely updated post-split or error; current price exceeds stated high) |
| P/E Ratio (TTM) | 15.09 |
| P/B Ratio | 1.98 |
| EPS (TTM) | ₹19.32 |
| Book Value (TTM) | ₹147.48 |
| ROE | 16.11% |
| ROCE | 13.32% |
| Dividend Yield | 1.37% |
| Face Value | ₹2 |
| Operating Revenue | ₹6,906.37 Cr |
| Net Profit | ₹1,783.27 Cr |
| Sales Growth (YoY) | 18.46% |
| Profit Growth (YoY) | 7.57% |
| Promoter Holding | 35.25% |
Manappuram Finance Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹315 – ₹350 |
| 2027 | ₹340 – ₹385 |
| 2028 | ₹365 – ₹420 |
| 2029 | ₹390 – ₹460 |
| 2030 | ₹415 – ₹500 |
Manappuram Finance Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹315 | ₹350 |
Manappuram reported 7.57% YoY profit growth and 18.46% sales growth in FY2025. While gold loan margins faced pressure due to competitive pricing, the company maintained strong asset quality (GNPA <1%). Trading at a P/E of 15.1x and P/B of 1.98x—below its 5-year average—the stock appears fairly valued. A 2026 target of ₹315–₹350 assumes margin stabilization and continued volume growth in gold and housing loans.
Manappuram Finance Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹340 | ₹385 |
The company’s expansion into housing finance and LAP offers higher-margin opportunities. If EPS reaches ₹21.50–₹23.00 by FY27 and P/E expands to 15.5–16.5x, the 2027 range of ₹340–₹385 is realistic.
Manappuram Finance Ltd Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹365 | ₹420 |
By 2028, benefits from digital lending, cross-selling, and portfolio diversification should reflect in profitability. Assuming EPS of ₹23–₹25 and P/E of 16–17x, the ₹365–₹420 band is justified.
Manappuram Finance Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹390 | ₹460 |
Long-term tailwinds include rising gold loan penetration in rural India and regulatory support for organized NBFCs. Using a P/E of 16.5–18x on projected EPS (~₹24–₹26), the 2029 target is ₹390–₹460.
Manappuram Finance Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹415 | ₹500 |
Over a five-year horizon, Manappuram’s value lies in its irreplaceable rural distribution and trust in gold-backed credit. A terminal P/E of 17–18.5x on FY30 EPS (~₹24.50–₹27) supports the ₹415–₹500 range.
Manappuram Finance Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 35.25% |
| Foreign Institutional Investors (FII) | 28.78% |
| Public & Retail | 24.83% |
| Domestic Institutional Investors (DII) | 11.13% |
| Others | 0.00% |
High institutional ownership reflects confidence in governance and scalability.
Manappuram Finance Ltd: Strengths vs Risks
Strengths:
- Strong brand in gold loans with low GNPA (<1%)
- Healthy ROE (16.11%) and consistent dividend history (1.37% yield)
- Asset-light, high-turnover model with quick recovery cycles
- Expanding into higher-margin segments (housing, LAP)
Risks:
- Margin pressure in gold loans due to competition
- Exposure to gold price volatility and rural income cycles
- Modest ROCE (13.32%) limits capital efficiency appeal
- Regulatory scrutiny on gold loan NBFCs
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate |
| Ideal Time Horizon | 3–5+ years |
| Volatility | Moderate (small-cap NBFC) |
| Dividend/Income Potential | Yes (1.37% yield + ~20% payout ratio) |
| Best For | Conservative investors seeking rural finance exposure with income |
Final Verdict
Manappuram Finance Ltd combines trust, scale, and rural penetration in India’s gold loan market. While near-term margins are under pressure, its long-term fundamentals remain solid. Our Manappuram Finance share price target 2026–2030 (₹315 to ₹500) reflects steady appreciation driven by volume growth and diversification—not speculation.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Manappuram Finance Consolidated Page (FY2025 + TTM)
- Finology Ticker – MANAPPURAM Financial Ratios & Valuation
- Manappuram Investor Presentation (Q2 FY26, Nov 2025)
- BSE India – Annual Report FY2025 & Dividend Announcements
- RBI NBFC Sector Report 2025
