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MANAPPURAM Share Price Target
Manappuram Finance Ltd.
Sector: Finance
Sector: Finance
MANAPPURAM Share Price *
165.95 +8.95 (5.7%)
* (quote may be delayed)
MANAPPURAM Share Price Forecast - Consensus
| No. of reports in last year | 8 |
| No. of analysts | 4 |
| Average Consensus Forecast | 146.25 |
| Consensus Potential | -9.03% |
MANAPPURAM Share Price Target - Broker Reports - 2019
Axis Direct
30-Aug-19
Price @ Call: 119.72
Target: 156
BUY
Pick-up in AUMs, increase in non gold pie, stable asset quality, and favorable regulatory environment will be positive for the company. Focus on shorter tenor of product has helped MGFL in containing asset quality pressures. With the management targeting a diversified portfolio mix of 50/50 Gold/Non-Gold portfolio, we expect stability in AUM to improve further. We maintain a buy with a target price of Rs 156 (2x FY21E BVPS).
Nirmal Bang
14-Aug-19
Price @ Call: 119.59
Target: 153
BUY
Per se, on the key P&L items, MGFL posted NII growth of 23% YoY at Rs7,640mn, PPOP growth of 39% YoY at Rs4,510mn and PAT growth of 36% YoY at Rs2,722mn. We have revised our estimates for FY20/FY21 and retained Buy rating on MGFL, revising our target price to Rs153 (from Rs170 earlier), valuing the stock at 2.0x FY21E P/BV.
Geojit Financial Services
16-Jul-19
Price @ Call: 128.55
Target: 154
BUY
Valuations: At CMP, the stock is trading at P/BV of 2.0x and 1.7x respectively for FY20E BVPS of Rs64.9 and FY21E BVPS of Rs78. With demonetisation impact left behind, the company is targeting healthy growth in gold loan business going forward, supported by rising gold prices and decreasing interest rates. The new business segments are also expected to do well in the coming years. Also, the company is having healthy CAR, one of the lowest NPAs among NBFC space, and positive asset-liability mismatches. Hence, we value MGFL at 2.0x on FY21E Adj. BV/Share and arrive at a target price of Rs154 and recommend ‘Buy’ rating.
Axis Direct
17-Jun-19
Price @ Call: 141.16
Target: 160
BUY
The non-gold business constitutes ~33% of the total consolidated AUM. During the quarter, Asirvad MFI posted a 58% YoY growth in its AUM to ~Rs3840cr, CV division increased its AUM by 78% to Rs1100cr and Home-finance subsidiary reported AUM growth of 38% to Rs520cr. MGFL management intends to divide the book equally between Gold and Non-Gold AUM.Asset quality stable: Overall GNPA has eased to 0.5%. GNPA in gold/ MFI/ housing/CV has eased by 10bps/30bps/100bps/50bps sequentially to 0.5%/0.5%/3.9%/1.9% respectively. Pick-up in AUMs, stable asset quality, and favorable regulatory environment will be positive for the company. Focus on shorter tenor of product has helped MGFL in containing asset quality pressures. We maintain a BUY with a target of Rs. 160
Axis Direct
10-Jun-19
Price @ Call: 137.58
Target: 156
BUY
Pick-up in AUMs, stable asset quality, benign gold price and favorable regulatory environment will be positive for the company. Focus on shorter tenor of product has helped MGFL in containing asset quality pressures. With the management targeting a diversified portfolio mix of 50/50 Gold/NonGold portfolio, we expect stablility in AUM to improve. We maintain a buy with a target price of Rs 156 (2x FY21E BVPS).
Nirmal Bang
16-Apr-19
Price @ Call: 126.45
Target: 154
BUY
Innovation Continues In The Background We recently met a comprehensive top management line-up from Manappuram Finance (MFL) that included (1) V.P. Nandkumar, MD & CEO (2) Bindu A.L., CFO (3) Jeevandas Narayan, MD, Home Finance (4) K Senthil Kumar, CEO, Vehicle Finance (5) Mayank Thatte, CFO, Asirvad MFI and (6) Sushil Kumar Mishra, DGM, Treasury and gleaned incremental insight into the strategy of the company. We share our detailed takeaways below. We marginally revise our estimates upward for FY20/FY21 and retain Buy rating, revising upward our target price to Rs154 (from Rs141 earlier), valuing the stock at 2.0x FY21E (2.4x FY20E) P/BV. We prefer MFL over Muthoot Finance and, currently, have an Accumulate Rating on the latter
Nirmal Bang
8-Feb-19
Price @ Call: 104.37
Target: 127
BUY
Phillip Capital
7-Feb-19
Price @ Call: 101.86
Target: 110
BUY
MANAPPURAM Share Price Target - Broker Reports - 2018
Nirmal Bang
12-Nov-18
Price @ Call: 84.87
Target: 112
BUY
Arihant Capital Markets
13-Aug-18
Price @ Call: 105.3
Target: 122
HOLD
Arihant Capital Markets
23-May-18
Price @ Call: 114.4
Target: 136
ACCUMULATE
Edelweiss
21-May-18
Price @ Call: 113.85
Target: 129
BUY
Centrum
7-Mar-18
Price @ Call: 104.3
Target: 128
BUY
Edelweiss
9-Feb-18
Price @ Call: 108.95
Target: 126
BUY
HDFC Securities
8-Jan-18
Price @ Call: 120.1
Target: 158
BUY
MANAPPURAM Share Price Target - Broker Reports - 2017
Axis Direct
16-Nov-17
Price @ Call: 101.08
Target: 118
BUY
Centrum
13-Oct-17
Price @ Call: 102.15
Target: 140
BUY
Prakashgaba.com
14-Jul-17
Price @ Call: 101.1
Target: 140
HOLD
HDFC Securities
19-Jun-17
Price @ Call: 92.55
Target: 109
BUY
Axis Direct
14-Feb-17
Price @ Call: 98
Target: 114
BUY
MANAPPURAM Share Price Target - Broker Reports - 2016
Axis Direct
17-Nov-16
Price @ Call: 78
Target: 102
BUY
KRChoksey
11-Nov-16
Price @ Call: 98
Target: 130
BUY
Axis Direct
10-Aug-16
Price @ Call: 87
Target: 102
BUY
Nirmal Bang
10-Aug-16
Price @ Call: 90
Target: 130
BUY
Powermywealth.com
1-Jul-16
Price @ Call: 69.85
Target: 92.5
BUY
Nirmal Bang
10-Jun-16
Price @ Call: 57.55
Target: 85
BUY