Credit rating agency, CRISIL Research has assigned a CRISIL IER fundamental grade of 3/5 to Manappuram Finance. The grade indicates that the company’s fundamentals are ‘good’ relative to other listed equity securities in India. The rating agency has also assigned valuation grade of 4/5 to the company.
The assigned fundamental grade reflects that Manappuram Finance, the second-largest non-banking financial company (NBFC) providing loans against gold in terms of AUM, has been in consolidation mode since the regulatory changes started in 2012.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh.
