Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Manappuram Finance’s long term bank facilities worth Rs 3677 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 2323 crore.
The ratings assigned to the bank facilities of Manappuram Finance (MAFIL) continue to factor in the long track record and the established market position of MAFIL as one of the leading players in the gold loan industry in India, experienced promoters & management team, comfortable capitalisation level, comfortable liquidity position and adequate risk management & management information systems in place.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh. During FY15 (refers to the period from April 01 to March 31), the company’s total income was Rs 1981 crore as against the total income of Rs 2112 crore in FY14.
