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Manba Finance Ltd (MANBA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544262 NSE: MANBA Finance - NBFC | Small Cap | Manba Finance Share Price
₹134.95 1.55 (1.16%)
As on 18-Sep'26 16:59
Manba Finance Ltd (MANBA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544262 NSE: MANBA Finance - NBFC | Small Cap | Manba Finance Share Price
₹134.95 1.55 (1.16%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹678 Cr.
Current Price
₹135
52-Week Low / High
₹99 / 155
TTM EPS
₹9.7
Book Value per Share
₹84.2
P/E Ratio
13.87
Lower than its 5-year historical median
Industry PE
26.9
Price to Book (P/B)
1.60
Lower than its 5-year historical median
EV/EBITDA
8.40
Higher than its 5-year historical median
Dividend Yield
0.74%
Profitability Efficiency
Return on Equity (ROE)
11.65%
Outperforms industry median
Return on Capital Employed (ROCE)
12.55%
Outperforms industry median
Return on Assets (ROA)
2.64%
Outperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Slowing versus 3-year growth rate
23.17%
Book Value Growth (1 Year)
Slowing versus 3-year growth rate
11.07%
Asset Quality
Gross NPA(%)
3.33%
Net NPA(%)
2.46%
TTM Sales
₹334 Cr.
Reserves
₹373 Cr.
Equity
₹50.2 Cr.
Face Value
₹10
All Time Low / High
₹99.05 / 201.50
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Manba Finance Ltd a good quality company?
Manba Finance Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
-
How efficiently has it grown and managed operations?
By checking its Total Asset growth.
-
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.
How does Manba Finance Ltd performance compare with that of its Peers?
AUM Growth of Manba Finance Ltd vs Industry Peers?
Manba Finance Ltd AUM CAGR is 28.97%, compared to the 5-year industry median CAGR of 9.93%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Manba Finance Ltd?
Promoters hold 74.98% of the Manba Finance Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Manba Finance Ltd over the last decade?
Over the last 1 years, the stock has delivered a CAGR of -3.5% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Manba Finance Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 47 | 58.7 | 87.5 | 118 | 106 | 107 | 133 | 192 | 251 | 328 | 334 | |
| YoY Gr. Rt. % | - | 25.1% | 49% | 34.7% | -10.3% | 0.9% | 25.1% | 43.7% | 31% | 30.8% | - | |
| Adj EPS (₹ ) | 3.1 | 2.9 | 4.3 | 4.1 | 2.5 | 2.6 | 4.4 | 8.3 | 7.5 | 9 | 9.7 | |
| YoY Gr. Rt. % | - | -7% | 47.4% | -4.7% | -39.1% | 4% | 69.9% | 88.2% | -9.2% | 20.1% | - | |
| BVPS (₹ ) | 21.4 | 26 | 30.8 | 30.6 | 37.7 | 40.3 | 44.7 | 53.3 | 73.4 | 81.6 | 84.2 | |
| YoY Gr. Rt. % | - | 21.7% | 18.4% | -0.6% | 23.2% | 6.9% | 11% | 19.1% | 37.9% | 11.1% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 3.1 | 2.9 | 3.4 | 3.5 | 1.7 | 1.8 | 2.5 | 3.6 | 3.1 | 2.6 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 24.1% | 25.4% | 35% | 30.8% | ||||
| Adj EPS | 12.5% | 29.4% | 27.1% | 20.1% | ||||
| BVPS | 16.1% | 16.7% | 22.2% | 11.1% | ||||
| Share Price | - | - | - | -3.5% | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 13.5 | 14 | 16.4 | 15.4 | 8.9 | 9.1 | 12.4 | 16.3 | 15.1 | 13.8 | 14.6 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 15.8 | 14.1 | 16.3 | 15.2 | 6.7 | 6.6 | 10.4 | 16.9 | 13.3 | 11.7 | 11.5 | |
Valuation of Manba Finance - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income + | 47 | 59 | 90 | 119 | 106 | 107 | 133 | 192 | 251 | 330 |
| Exceptional Items ⓘ | 0 | 0 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Expenditure ⓘ + | 37 | 47 | 69 | 95 | 93 | 94 | 111 | 153 | 201 | 269 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 10 | 12 | 21 | 24 | 13 | 13 | 23 | 39 | 50 | 61 |
| Taxes ⓘ | 3 | 4 | 7 | 6 | 3 | 3 | 6 | 7 | 12 | 16 |
| Profit After Tax | 6 | 8 | 14 | 18 | 9 | 10 | 17 | 31 | 38 | 45 |
| Adjusted EPS (₹) | 3.1 | 2.9 | 4.3 | 4.1 | 2.5 | 2.6 | 4.4 | 8.3 | 7.5 | 9.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 10% | 11.10% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital + | 50 | 80 | 104 | 136 | 142 | 152 | 168 | 201 | 369 | 410 |
| Short term borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 404 | 630 | 878 |
| Long Term Borrowings | 157 | 230 | 373 | 395 | 404 | 393 | 606 | 359 | 453 | 675 |
| Current Liabilities | 19 | 24 | 30 | 10 | 8 | 15 | 12 | 413 | 642 | 892 |
| Trade Payables | 5 | 9 | 10 | 4 | 2 | 12 | 7 | 1 | 1 | 1 |
| Other Liabilities | -5 | -9 | -10 | -4 | -2 | -12 | -7 | -405 | -632 | -879 |
| Total Liabilities ⓘ | 225 | 334 | 506 | 541 | 554 | 559 | 786 | 973 | 1,464 | 1,977 |
Assets | ||||||||||
| Non Current Asset + | 12 | 23 | 15 | 14 | 16 | 13 | 40 | 829 | 1,187 | 1,593 |
| Current Asset + | 213 | 311 | 491 | 527 | 538 | 547 | 746 | 144 | 277 | 384 |
| Total Assets ⓘ | 225 | 334 | 506 | 541 | 554 | 559 | 786 | 973 | 1,464 | 1,977 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -7 | -65 | -114 | 7 | -7 | 47 | -124 | -141 | -320 | -378 |
| Cash Flow From Investing Activity ⓘ | -2 | -11 | 3 | -1 | -1 | -1 | -19 | 1 | -15 | -60 |
| Cash Flow From Financing Activity ⓘ | 13 | 74 | 123 | -13 | 11 | -10 | 202 | 156 | 450 | 465 |
| Net Cash Flow ⓘ | 4 | -2 | 11 | -7 | 3 | 36 | 59 | 16 | 115 | 27 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios | ||||||||||
| EPS (₹) | 11.10 | 10.30 | 15.20 | 14.50 | 7.50 | 7.80 | 13.20 | 8.30 | 7.50 | 9 |
| DPS (₹) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.80 | 1 |
| BVPS (₹) | 75.6 | 92 | 108.9 | 108.3 | 113 | 120.9 | 134.1 | 53.3 | 73.4 | 81.6 |
Performance Ratios | ||||||||||
| ROA (%) | 3.1 | 2.9 | 3.4 | 3.5 | 1.7 | 1.8 | 2.5 | 3.6 | 3.1 | 2.6 |
| ROE (%) | 15.8 | 14.1 | 16.3 | 15.2 | 6.7 | 6.6 | 10.4 | 16.9 | 13.3 | 11.7 |
| ROCE (%) | 14.6 | 13.2 | 14.3 | 14.8 | 11.9 | 10.8 | 12.1 | 14.0 | 13.2 | 12.6 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 | 1.2 |
Top 5 Mutual Funds Holding
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Announcements
Manba Finance Ltd FAQs
The current trading price of Manba Finance on 18-Sep-2026 16:59 is ₹134.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Manba Finance stood at ₹678.0 Cr
The latest P/E ratio of Manba Finance as of 17-Sep-2026 is 13.87.
The latest P/B ratio of Manba Finance as of 17-Sep-2026 is 1.60.
The 52-week high of Manba Finance is ₹155.4 and the 52-week low is ₹99.05.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Manba Finance is ₹334 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Manba Finance Ltd is a average quality company.
The key valuation ratios of Manba Finance Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Manba Finance Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Manba Finance Ltd
Manba Finance Limited was originally incorporated as ‘Manba Finance Private Limited’, a private limited company under the Companies Act, 1956 at Mumbai, Maharashtra, pursuant to a certificate of incorporation dated May 31, 1996, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC).Thereafter, the company was converted into a public limited company pursuant to a special resolution passed by its Shareholders as on January 31, 2005 and consequently, the name of the company was changed to ‘Manba Finance Limited’. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by RoC on April 11, 2005. The RBI granted a certificate of registration dated April 7, 1998 to the company for registration as a NBFC under Section 45-IA of the Reserve Bank of India Act, 1934 (RBI Act). Subsequently, the RBI granted a revised certificate of registration dated January 27, 2022, to carry on business of non-banking financial institutions without accepting public deposits.
Manba Finance is a Non-Banking Financial Company-Base Layer (NBFC-BL) providing financial solutions for New two wheelers (2Ws,) three wheelers (3Ws), electric two wheelers (EV2Ws), electric three wheelers (EV3Ws), Used Cars, Small Business Loans and Personal Loans. It provides financial solutions to its target customers who are looking for a quick turnaround time (TAT) for loan sanction and disbursement. The company has a centralised credit team which remotely reviews loan applications and undertakes credit decisions primarily based on the credit data of the customer. It has implemented a comprehensive and robust credit assessment, risk management and collections framework to identify, monitor and manage risks inherent in its line of business. It bases its credit decisions on certain key factors like its internal credit policies, LTV and the customer’s existing cash-flows, CIBIL score and the collateral, which in case of vehicle finance is the vehicle itself, to assess the ability and capability of the customer to repay the loan to be disbursed by the company. It also has an in-house collection team which focuses on recovery of the monthly instalments from its customers. Its collection management process ensures account-level tracking of payments, resolution of queries, and initiation of legal actions, where required.
Business area of the company
The company is a registered as a non-banking finance company engaged in the business of providing finance. The company primarily deals in the financing of new 2Ws, 3Ws, EV2Ws, EV3Ws and personal loans.
History and milestones
- 1998: Received certificate of registration from RBI for registration of the company as a NBFC.
- 2009: Scaled up its operations in vehicle financing.
- 2013: AUM of the company crossed Rs 5,000 lakh.
- 2014: AUM of the Company crossed Rs 10,000 lakh.
- 2018: Expansion of its operations to Pune.
- 2018: AUM of the company crossed Rs 25,000 lakh.
- 2018: Expansion of its operations to Nashik and Satara in the state of Maharashtra and to Ahmedabad in the state of Gujarat.
- 2020: AUM of the company crossed Rs 50,000 lakh.
- 2021: Listing of first tranche of non-convertible debentures on the BSE.
- 2021: Opened branch in Jaipur in the state of Rajasthan.
- 2022: Expansion of its operations to Nagpur, Vidarbha region in the state of Maharashtra and to Raipur in the state of Chhattisgarh.
- 2023: Employee strength of the company crossed 1,000 employees.
- 2023: Entered into a co-lending arrangement with Muthoot Capital Services Limited.
- 2023: AUM of the Company crossed Rs 80,000 lakh as on December 31, 2023.
- 2023: Expanded the network to more than 850 dealers, including more than 60 EV dealers.
- 2023: 30,000 customers on boarded during the months of September, October and November with Rs 25,000 lakh disbursement amount.
- 2023: Expanded operations to the state of Madhya Pradesh by opening a branch in Indore.
- 2023: Launched new products such as Small Business Loans, Used Car Loans and Personal Loans.
- 2024: AUM of the Company crosses Rs 90,000 lakh.
- 2024: Expanded operations to the state of Uttar Pradesh by opening a branch in Lucknow.
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