Manappuram Finance Limited

NSEI:MANAPPURAM Stock Report

Market Cap: ₹152.6b

Manappuram Finance Valuation

Is MANAPPURAM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MANAPPURAM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
₹188.34
Fair Value
4.3% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: MANAPPURAM (₹180.32) is trading below our estimate of fair value (₹188.34)

Significantly Below Fair Value: MANAPPURAM is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MANAPPURAM?

Key metric: As MANAPPURAM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MANAPPURAM. This is calculated by dividing MANAPPURAM's market cap by their current earnings.
What is MANAPPURAM's PE Ratio?
PE Ratio6.8x
Earnings₹22.60b
Market Cap₹152.61b

Price to Earnings Ratio vs Peers

How does MANAPPURAM's PE Ratio compare to its peers?

The above table shows the PE ratio for MANAPPURAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23x
531595 Capri Global Capital
46.4x37.5%₹150.1b
CREDITACC CreditAccess Grameen
11.6x17.5%₹155.3b
CHOLAHLDNG Cholamandalam Financial Holdings
13.7xn/a₹280.8b
FIVESTAR Five-Star Business Finance
20.4x15.7%₹198.7b
MANAPPURAM Manappuram Finance
6.8x11.9%₹152.6b

Price-To-Earnings vs Peers: MANAPPURAM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (23x).

Price to Earnings Ratio vs Industry

How does MANAPPURAM's PE Ratio compare vs other companies in the IN Consumer Finance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
523384 Maha Rashtra Apex
0.6xn/aUS$24.30m
No more companies available in this PE range
MANAPPURAM 6.8xIndustry Avg. 21.7xNo. of Companies15PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MANAPPURAM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the Indian Consumer Finance industry average (21.7x).

Price to Earnings Ratio vs Fair Ratio

What is MANAPPURAM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MANAPPURAM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: MANAPPURAM is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MANAPPURAM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹180.32
₹202.62
+12.4%
32.8%₹401.00₹120.00n/a13
Jan ’26₹191.57
₹183.43
-4.2%
20.2%₹260.00₹120.00n/a14
Dec ’25₹156.26
₹185.46
+18.7%
20.3%₹260.00₹120.00n/a13
Nov ’25₹159.64
₹204.54
+28.1%
17.7%₹260.00₹150.00n/a13
Oct ’25₹197.47
₹233.36
+18.2%
13.6%₹270.00₹150.00n/a14
Sep ’25₹215.95
₹231.93
+7.4%
13.3%₹270.00₹150.00n/a14
Aug ’25₹213.68
₹225.00
+5.3%
12.5%₹270.00₹150.00n/a14
Jul ’25₹211.74
₹216.43
+2.2%
10.8%₹245.00₹150.00n/a14
Jun ’25₹168.65
₹213.93
+26.8%
10.0%₹230.00₹150.00n/a14
May ’25₹200.15
₹210.87
+5.4%
14.0%₹240.00₹150.00n/a15
Apr ’25₹181.90
₹209.67
+15.3%
13.8%₹235.00₹150.00n/a15
Mar ’25₹179.95
₹207.67
+15.4%
14.0%₹235.00₹150.00n/a15
Feb ’25₹181.50
₹185.86
+2.4%
16.3%₹225.00₹110.00n/a14
Jan ’25₹171.35
₹181.71
+6.0%
16.0%₹210.00₹110.00₹191.5714
Dec ’24₹162.70
₹170.13
+4.6%
15.6%₹210.00₹110.00₹156.2615
Nov ’24₹136.15
₹166.14
+22.0%
13.7%₹200.00₹110.00₹159.6414
Oct ’24₹149.85
₹164.43
+9.7%
13.1%₹200.00₹110.00₹197.4714
Sep ’24₹151.80
₹164.43
+8.3%
13.1%₹200.00₹110.00₹215.9514
Aug ’24₹135.85
₹148.00
+8.9%
15.9%₹193.00₹90.00₹213.6814
Jul ’24₹132.35
₹145.50
+9.9%
14.8%₹180.00₹90.00₹211.7414
Jun ’24₹113.40
₹145.50
+28.3%
14.8%₹180.00₹90.00₹168.6514
May ’24₹129.70
₹149.79
+15.5%
10.0%₹180.00₹110.00₹200.1514
Apr ’24₹123.70
₹151.00
+22.1%
12.3%₹200.00₹110.00₹181.9014
Mar ’24₹105.45
₹149.07
+41.4%
12.6%₹200.00₹110.00₹179.9515
Feb ’24₹113.15
₹145.21
+28.3%
9.3%₹165.00₹110.00₹181.5014
Jan ’24₹116.15
₹144.50
+24.4%
9.3%₹165.00₹110.00₹171.3514
Analyst Price Target
Consensus Narrative from 13 Analysts
₹202.64
Fair Value
11.0% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/10 00:39
End of Day Share Price 2025/01/10 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Manappuram Finance Limited is covered by 36 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Pankaj AgarwalAmbit Capital
null nullAsian Markets Securities Private Limited
Ganeshram JayaramanAvendus Spark