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MANBA - Manba Finance

📊 NSE: MANBA 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 9:32

📢 Recent Corporate Announcements

Manba Finance to Participate in 11th Annual Valorem Investor Conference on March 23

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Mar 2026, 03:12 PM

Manba Finance Limited has scheduled its participation in the 11th Annual Valorem Conference titled 'Resilient Corporates, Relentless India'. The event is set to take place on Monday, March 23, 2026, at the Grand Hyatt-Kalina in Mumbai. This participation is part of the company's regular engagement with institutional investors and analysts. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be discussed during the interactions.

Participation in the 11th Annual Valorem Conference scheduled for March 23, 2026
Event venue confirmed at Grand Hyatt-Kalina, Mumbai
Interaction organized by Valorem Advisors under the theme 'Resilient Corporates, Relentless India'
Compliance disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015
Company confirms no unpublished price-sensitive information (UPSI) will be shared

💡 Investors should monitor for any investor presentations or post-meet transcripts released by the company for insights into management's outlook. No immediate portfolio action is required based on this routine disclosure.

Manba Finance Q3 FY26: AUM Grows 25% YoY to ₹1,631 Cr; PAT Up 15% in 9M FY26

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 01:07 PM

Manba Finance reported a robust 25% YoY growth in Assets Under Management (AUM) to ₹1,631 crores for Q3 FY26, driven by record quarterly disbursements of ₹347 crores. The company maintained healthy profitability with a 9-month PAT of ₹34 crores and a strong Net Interest Margin (NIM) of 12.65%. Asset quality remains stable with Gross NPA at 3.38% and credit costs consistently kept below 1%. Strategic expansion in UP and MP, along with a new MoU with TVS Motor, positions the company for continued growth in the two-wheeler and three-wheeler segments.

AUM reached ₹1,631 crores, marking a 25% YoY growth with over 95% of the portfolio secured.
Q3 disbursements surged 48.9% QoQ to ₹347 crores, supported by festive demand and dealer network expansion.
Average cost of borrowing improved to 10.12% from 10.80%, aiding NIMs which stood at 12.65%.
Asset quality improved slightly with GNPA at 3.38% compared to 3.52% in the previous quarter.
Capital Adequacy Ratio remains strong at 25.06%, providing significant headroom for future growth.

💡 Investors should note the company's successful reduction in borrowing costs and stable asset quality despite rapid growth. The stock remains a positive watch for those interested in the niche two-wheeler and SME financing space as it scales in North India.

Manba Finance Reports 25% AUM Growth to ₹16,308 Mn in 9M-FY26 Investor Presentation

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 30 Jan 2026, 10:18 AM

Manba Finance Limited reported a strong 25.08% YoY growth in Assets Under Management (AUM), reaching ₹16,308 million for 9M-FY26. Net Interest Income (NII) rose by 19.20% to ₹1,104 million, while Profit After Tax (PAT) grew by 14.95% to ₹342 million. The company significantly expanded its reach, increasing its location count from 71 to 113 and its dealer network to 1,452. However, asset quality saw a slight decline, with Gross NPA increasing to 3.38% from 2.83% in the previous year.

AUM grew 25.08% YoY to ₹16,308 Mn with a 3-year CAGR of 39.0%
Net Interest Margin (NIM) remains robust at 12.65% with an average yield of 22.80%
Geographical footprint expanded to 113 locations across 6 states, adding 334 new dealers YoY
Asset quality showed marginal stress with GNPA at 3.38% and NNPA at 2.57% compared to 2.83% and 2.21% respectively
Disbursements increased by 11.12% YoY to ₹7,461 Mn for the nine-month period

💡 Investors should monitor the company's ability to manage the slight uptick in NPAs while scaling its high-yield vehicle and small business loan portfolios. The strong NIM and expansion into new states like Uttar Pradesh provide a positive outlook for future revenue growth.

Manba Finance Allots 50,000 NCDs Worth ₹50 Crore at 10.65% Coupon

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 29 Jan 2026, 06:58 PM

Manba Finance Limited has successfully allotted 50,000 Senior Secured Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to ₹50 crore, with each NCD having a face value of ₹10,000. These instruments carry a coupon rate of 10.65% per annum, which will be paid on a monthly basis. The NCDs have a tenure of 26 months and are scheduled to mature on March 26, 2028.

Allotment of 50,000 NCDs aggregating to ₹50 crore via private placement
Fixed coupon rate of 10.65% per annum with monthly interest payment frequency
Instrument tenure of 26 months with maturity date set for March 26, 2028
Securities are listed, rated, senior, and secured, to be listed on BSE Limited

💡 Investors should note the company's ability to raise capital at a 10.65% cost, which is critical for its lending operations. Monitor how effectively this capital is deployed to grow the loan book and maintain Net Interest Margins.

Manba Finance Declares ₹0.25 Interim Dividend; Q3 PAT Rises to ₹13.08 Crore

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 01:29 PM

Manba Finance has declared a second interim dividend of ₹0.25 per equity share for FY 2025-26, setting February 6, 2026, as the record date. The company reported a steady financial performance for Q3 FY26, with revenue from operations growing to ₹80.44 crore from ₹66.90 crore in the previous year's corresponding quarter. Profit after tax for the quarter stood at ₹13.08 crore, showing a marginal year-on-year increase. For the nine-month period ending December 2025, the company's PAT reached ₹34.30 crore, up from ₹29.78 crore in the prior year.

Declared second interim dividend of ₹0.25 per share on equity shares of face value ₹10 each.
Q3 FY26 revenue from operations increased to ₹8,043.52 Lakhs vs ₹6,690.41 Lakhs YoY.
Quarterly Profit After Tax (PAT) rose to ₹1,308.14 Lakhs from ₹1,295.90 Lakhs in the same period last year.
Nine-month PAT for FY26 reached ₹3,430.11 Lakhs, a growth of 15% compared to ₹2,977.83 Lakhs in FY25.
Record date for dividend eligibility is February 6, 2026, with payment scheduled by February 20, 2026.

💡 Investors seeking dividend income should ensure they hold shares before the February 6 record date. The steady growth in revenue and profitability suggests the company is maintaining its growth trajectory in the financing sector.

Manba Finance Q3 PAT Rises to ₹13.08 Cr; Declares ₹0.25 Interim Dividend

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 29 Jan 2026, 01:03 PM

Manba Finance reported a steady performance for Q3 FY26 with Profit After Tax (PAT) reaching ₹13.08 crore, a marginal increase from ₹12.96 crore in the same quarter last year. Revenue from operations grew significantly by 25% year-on-year to ₹80.45 crore. The Board has declared a second interim dividend of ₹0.25 per share, with the record date set for February 6, 2026. For the nine-month period ending December 2025, the company showed robust growth with PAT rising 15% to ₹34.30 crore.

Revenue from operations increased 25% YoY to ₹80.45 crore for the quarter ended December 2025
Profit After Tax (PAT) for Q3 FY26 stood at ₹13.08 crore compared to ₹12.96 crore in Q3 FY25
Declared a second interim dividend of ₹0.25 per equity share with a record date of February 6, 2026
Nine-month PAT grew 15.2% YoY to ₹34.30 crore from ₹29.78 crore in the previous year
Basic Earnings Per Share (EPS) for the quarter improved to ₹2.60 from ₹2.58 YoY

💡 Investors should monitor the company's ability to scale its loan book while maintaining margins, as revenue growth is currently outpacing profit growth. The dividend provides a small yield for shareholders.

Manba Finance Declares ₹0.25 Interim Dividend; Q3 Total Income Surges 44.7% YoY

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 Jan 2026, 12:58 PM

Manba Finance has declared its second interim dividend of ₹0.25 per equity share for FY 2025-26, setting February 6, 2026, as the record date. The company reported a robust 44.7% year-on-year growth in total income for Q3 FY26, reaching ₹80.45 crore. While revenue growth was strong, net profit for the quarter saw a marginal increase to ₹13.08 crore compared to ₹12.96 crore in the previous year. For the nine-month period ending December 2025, the company's profit after tax stood at ₹31.64 crore, up from ₹29.78 crore.

Declared second interim dividend of ₹0.25 per equity share of face value ₹10
Total income for Q3 FY26 rose to ₹80.45 crore from ₹55.57 crore in Q3 FY25
Net profit for the quarter ended December 31, 2025, stood at ₹13.08 crore
Nine-month PAT increased to ₹31.64 crore versus ₹29.78 crore in the previous year
Maintained full asset cover for secured NCDs worth ₹466.36 crore as of December 2025

💡 Investors seeking dividend income should ensure they hold shares before the record date of February 6, 2026. While top-line growth is impressive, monitor the company's ability to translate high revenue growth into higher bottom-line margins in upcoming quarters.

Manba Finance Q3 PAT Grows to ₹13.08 Cr; Declares ₹0.25 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 12:54 PM

Manba Finance reported a strong 44.8% YoY growth in Total Income to ₹80.45 crore for the quarter ended December 31, 2025. While income grew sharply, Net Profit saw a modest increase to ₹13.08 crore as finance costs rose significantly. The company has declared a second interim dividend of ₹0.25 per share, with a record date of February 6, 2026. For the nine-month period of FY26, the company's profit after tax stands at ₹34.30 crore, up from ₹29.78 crore in the previous year.

Total Income for Q3 FY26 rose to ₹8,044.55 lakhs from ₹5,556.90 lakhs in the same quarter last year.
Net Profit for the quarter stood at ₹1,308.14 lakhs compared to ₹1,295.90 lakhs in Q3 FY25.
Second interim dividend of ₹0.25 per share (2.5% of face value) declared for FY 2025-26.
Finance costs increased significantly to ₹4,120.72 lakhs from ₹2,887.11 lakhs on a YoY basis.
Nine-month (9M FY26) EPS improved to ₹6.83 from ₹5.93 in the corresponding period last year.

💡 Investors should focus on the robust top-line growth and consistent dividend payouts. However, keep a close watch on the rising finance costs which are currently tempering the growth in net profitability.

Manba Finance Schedules Q3 FY26 Earnings Conference Call for January 30, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 22 Jan 2026, 04:41 PM

Manba Finance Limited has announced its earnings conference call for the third quarter of FY26, scheduled for January 30, 2026, at 4:00 PM IST. The call will feature senior management, including the Managing Director and CFO, discussing the company's financial performance for the period ending December 31, 2025. This interaction provides a platform for analysts and investors to seek clarity on the company's operational metrics and future growth strategy. The event is being coordinated by Arihant Capital Markets Ltd.

Earnings conference call for Q3 FY26 set for January 30, 2026, at 16:00 IST.
Discussion to focus on financial results for the quarter ended December 31, 2025.
Management representation by MD Mr. Manish Shah and CFO Mr. Jay Mota.
Universal dial-in numbers provided are +91 22 6280 1466 and +91 22 7115 8826.
Audio recordings and transcripts will be published on the company's website following the call.

💡 Investors should monitor the call for management's outlook on credit growth and asset quality trends. Reviewing the post-call transcript is recommended for those unable to attend the live session.

Manba Finance to Consider Second Interim Dividend; Sets Feb 6 as Record Date

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 09 Jan 2026, 06:56 PM

Manba Finance Limited has scheduled a board meeting on January 29, 2026, to approve the unaudited financial results for the quarter and nine months ended December 31, 2025. Alongside the earnings, the board will consider the declaration of a second interim dividend for the financial year 2025-26. The company has proactively fixed February 6, 2026, as the record date for determining shareholder eligibility for the dividend, should it be approved. This announcement signals potential cash returns to shareholders following the Q3 performance review.

Board meeting scheduled for January 29, 2026, to consider Q3 FY26 results and a second interim dividend.
Record date for the proposed interim dividend is fixed as February 6, 2026.
Trading window for insiders remains closed from January 1, 2026, until 48 hours after the results are announced.
Paid-up equity share capital of the company stands at Rs. 50,23,94,100 with a face value of Rs. 10 per share.

💡 Investors should watch for the board meeting outcome on January 29 to confirm the dividend quantum and evaluate the Q3 earnings growth. To qualify for the dividend, ensure the stock is purchased before the ex-dividend date preceding February 6.

Manba Finance Files Q3 FY26 SEBI Compliance Certificate for Share Dematerialization

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Jan 2026, 04:54 PM

Manba Finance Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by MUFG Intime India Private Limited, confirms that all share dematerialization requests were processed within the mandated timelines. It further verifies that physical certificates were mutilated and cancelled after due verification, and the depositories' names were updated in the register of members. This is a standard procedural filing ensuring the integrity of the company's share registry.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar MUFG Intime India confirmed processing of all dematerialization requests within prescribed timelines.
Verification and cancellation of physical share certificates performed as per SEBI Regulation 74(5).
Confirms that securities comprised in the certificates are listed on the stock exchanges.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly financial results for performance insights.

Manba Finance Submits Quarterly Compliance Officer and RTA Details for Dec 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Jan 2026, 04:31 PM

Manba Finance Limited has submitted its quarterly compliance report for the period ended December 31, 2025, as required by SEBI regulations. The filing confirms Ms. Bhavisha Jain as the Company Secretary and Compliance Officer. Additionally, MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is identified as the Registrar & Transfer Agent (RTA). This is a standard administrative disclosure to the stock exchanges.

Quarterly update submitted for the period ending December 31, 2025
Ms. Bhavisha Jain confirmed as the Company Secretary and Compliance Officer
MUFG Intime India Private Limited serves as the Registrar & Transfer Agent
Compliance maintained under SEBI (LODR) Regulations 6(1) and 7(1)

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming financial performance for more significant price triggers.

Manba Finance to Close Trading Window from January 1, 2026 for Q3 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Dec 2025, 01:06 PM

Manba Finance Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the results are officially declared and submitted to the stock exchanges. This is a standard regulatory procedure to prevent insider trading ahead of price-sensitive information releases.

Trading window closure effective from January 1, 2026
Closure relates to the financial results for the quarter ended December 31, 2025
Window will reopen 48 hours after the official submission of results to exchanges
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 No action is required as this is a routine compliance notification. Investors should monitor for the future announcement of the specific board meeting date for Q3 results.

Manba Finance Partners with TVS Motor as Preferred Financier for Three-Wheelers

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 24 Dec 2025, 03:25 PM

Manba Finance has signed a Memorandum of Understanding (MoU) with TVS Motor Company to become a preferred financier for their three-wheeler portfolio across India. This strategic partnership covers cargo, passenger, and electric vehicle (EV) variants, aiming to strengthen Manba's presence in the commercial vehicle financing segment. The collaboration will utilize Manba's pan-India distribution network to offer customized, digital-first financing solutions. This move is expected to drive loan book growth and diversify the company's asset portfolio toward sustainable mobility solutions.

MoU signed with TVS Motor Company to act as a preferred financier for three-wheelers nationwide.
Strategic focus on Electric Vehicle (EV) financing to support sustainable mobility and ESG goals.
Partnership covers both cargo and passenger variants for owner-drivers and fleet operators.
Plans to roll out phased, innovative financing schemes with flexible repayment structures.
Expected to contribute positively to medium-to-long-term loan book expansion and business growth.

💡 This tie-up with a major OEM like TVS Motor is a significant growth catalyst for Manba Finance. Investors should monitor the growth in the three-wheeler loan segment and its impact on the overall AUM in upcoming quarterly reports.

Manba Finance Interacts with Institutional Investors at DAM Capital Conference

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Dec 2025, 06:04 PM

Manba Finance Limited participated in the Auto Ancillaries Conference organized by DAM Capital on December 17, 2025. Senior management engaged with representatives from five prominent institutional investors, including HSBC Mutual Fund and Aditya Birla Capital. The discussions were centered on the general business environment and the company's performance. The company confirmed that no unpublished price-sensitive information was shared during these interactions.

Participated in the Auto Ancillaries Conference hosted by DAM Capital on December 17, 2025.
Interacted with 5 major institutional investors including HSBC Asset Management and Aditya Birla Capital.
Discussions focused on the general business environment and the company's operational performance.
Management confirmed that no unpublished price-sensitive information (UPSI) was disclosed.

💡 No immediate action is required as this is a routine regulatory disclosure. Investors should note the institutional interest which may lead to increased visibility for the stock.

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💰 Financial Performance

Revenue Growth by Segment

Total income grew 30.7% YoY to INR 250.45 Cr in FY25 from INR 191.6 Cr in FY24. Assets Under Management (AUM) reached INR 1,331.45 Cr, representing a 66.7% increase from INR 798.8 Cr in the previous year. The company maintains a 3-year AUM CAGR of 39.0%.

Geographic Revenue Split

Operations are concentrated across 6-7 states including Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh, covering 103 locations. Specific percentage revenue split per state is not disclosed.

Profitability Margins

Profit After Tax (PAT) increased 21.15% to INR 37.80 Cr in FY25 from INR 31.2 Cr in FY24. Net Interest Margin (NIM) stands at 12.56%, while the Return on Managed Assets (ROMA) was 2.60% in FY25, down from 4.4% in FY24.

EBITDA Margin

Net Interest Income (NII) was reported at INR 68.2 Cr for the period ending November 2025, with a 3-year NII CAGR of 39.7%. Core profitability is driven by an average yield on AUM of 23.34%.

Capital Expenditure

Not disclosed as a traditional CapEx figure; however, the lending book (AUM) expanded by INR 532.65 Cr YoY to reach INR 1,331.45 Cr in FY25.

Credit Rating & Borrowing

The company holds a CARE rating of BBB+ (Positive Outlook). The average cost of borrowings is 10.67%, and the total borrowings to equity ratio is 3.76 times.

⚙️ Operational Drivers

Raw Materials

Debt Capital/Funds represent the primary 'raw material' for lending, with interest expenses being the core cost. Cost of borrowings is 10.67%.

Import Sources

Domestic funding sourced from 3 public sector banks, 10 private sector banks, and 25 NBFCs.

Key Suppliers

Key financial partners include 13 banks and 25 NBFCs. Strategic OEM partners for lead generation include Suzuki, Yamaha, TVS, Piaggio, and Hero MotoCorp.

Capacity Expansion

Current distribution network includes 103 locations and 1,250+ dealers. The company recently reached a milestone of 1 million customers.

Raw Material Costs

Interest costs are the primary operational expense, reflected in a 10.67% cost of borrowing against a 23.34% yield on AUM.

Manufacturing Efficiency

Disbursement per employee is INR 0.231 Cr (INR 2.31 Mn) and disbursement per location per month is INR 0.325 Cr (INR 3.25 Mn). Over 60% of loans are sanctioned in under 15 minutes.

Logistics & Distribution

Distribution is handled through a coordinated workforce of 1,726 employees, including 700+ sales personnel across 103 locations.

📈 Strategic Growth

Expected Growth Rate

39%

Growth Strategy

Growth is targeted through geographic expansion across 103 locations in 6-7 states and diversifying the product portfolio into EV financing, used cars, and small business loans. The strategy relies on a technology-led model to maintain fast turnaround times (<15 mins) and leveraging a network of 1,250+ dealers to reach the next million customers.

Products & Services

New 2-wheeler loans, 3-wheeler loans, EV financing, used car loans, used 2-wheeler loans, small business loans, and personal loans.

Brand Portfolio

Manba Finance

New Products/Services

Recent expansion into Electric Vehicle (EV) financing and personal loans to diversify the portfolio beyond traditional 2-wheeler finance.

Market Expansion

Expanding presence in 103 locations across 6 states, with a recent entry into Uttar Pradesh to deepen geographic reach.

Strategic Alliances

Preferred financier agreements with Suzuki, Yamaha, TVS, Piaggio, and Hero MotoCorp.

🌍 External Factors

Industry Trends

The industry is shifting toward digital-first lending and EV adoption. Manba is positioned as a fast-growing NBFC with a 39% AUM CAGR, focusing on technology to maintain a competitive edge in turnaround times.

Competitive Landscape

Competes with captive finance arms of OEMs, private banks, and other specialized NBFCs in the 2-wheeler and 3-wheeler segments.

Competitive Moat

Sustainable moat built on 29+ years of experience, a deep-rooted network of 1,250+ dealers, and 'preferred financier' status with major OEMs which acts as a significant entry barrier.

Macro Economic Sensitivity

Highly sensitive to interest rate fluctuations in India and rural/semi-urban consumption trends affecting 2-wheeler demand.

Consumer Behavior

Increasing consumer preference for instant credit and digital processing for vehicle financing.

Geopolitical Risks

Primarily domestic; subject to changes in Indian government policies regarding NBFC regulations and EV subsidies.

⚖️ Regulatory & Governance

Industry Regulations

Governed by RBI NBFC regulations, Companies Act 2013, and SEBI (LODR) Regulations. The company reported full compliance with statutory provisions during the FY25 audit period.

Environmental Compliance

Not applicable for financial services, though the company supports environmental goals through EV financing.

Taxation Policy Impact

Compliant with Indian corporate tax laws; average remuneration for non-managerial personnel increased by 57.86% while managerial remuneration increased by 16.04%.

Legal Contingencies

Secretarial audit confirms compliance with the Companies Act and SCRA; no specific high-value pending court cases or labor disputes were quantified in the documents.