Overview:
Manba is a vehicle finance NBFC based in Mumbai and registered with the RBI. Manba began operations in 1996, and has expanded to 50 locations across four states – Maharashtra, Gujarat, Rajasthan, and Chhattisgarh. It primarily provides financing for used 2 wheelers, new 2 wheelers, used 4 wheelers and electric vehicles. The company has partnered with more than 750 dealers to serve over 8 lakh customers.
The company is promoted by Mr. Kirit Shah, who now acts in the capacity of the chairperson of the company. It is led by Mr. Manish Shah, the Managing Director of the company. Mr. Manish is a qualified Chartered Accountant and has over 25 years of experience in the financial services industry. Under his leadership, the company has expanded its footprint into new geographies while maintaining profitability.
Key Highlights:
- The company has exhibited strong growth, both in portfolio as well as in branch/ geographical expansion.
- In FY 23, Manba made its highest 2W disbursements of Rs. 455 crore.
- The company has been consistently profitable for the last 10 years, even during macroeconomic shocks like Covid-19 and demonetization.
- Capital adequacy ratio of 33.08% and GNPA of only 3.6% as of Mar'23.
Key Financials:
All figures in INR crore
|
Balance Sheet |
FY 22 |
FY 23 |
Q1'24 |
|
Cash & cash equivalents |
31.98 |
62.37 |
18.41 |
|
Bank balances |
18.06 |
46.24 |
36.34 |
|
Loans Portfolio |
489.08 |
629.78 |
649.14 |
|
Investments |
0.08 |
18.36 |
48.72 |
|
Other financial assets |
17.33 |
23.17 |
22.32 |
|
Fixed Assets |
12.79 |
13.92 |
12.09 |
|
Total Assets |
569.32 |
793.84 |
787.02 |
|
Total Equity |
151.02 |
165.07 |
169.61 |
|
Borrowings |
394.4 |
595.93 |
580 |
|
Provisions |
6.41 |
6.47 |
7.42 |
|
Other Liabilities |
17.49 |
26.37 |
29.99 |
|
Total Liabilities & Equity |
569.32 |
793.84 |
787.02 |
|
P&L Statement |
FY 22 |
FY 23 |
Q1'24 |
|
Interest Income |
93.98 |
124.96 |
34.08 |
|
Total Income |
107.02 |
133.84 |
36.13 |
|
Finance cost |
46.59 |
56.62 |
17.61 |
|
Impairment on Financial instruments |
10.12 |
8.82 |
1.59 |
|
Operating Expenditure |
38.29 |
47.39 |
12.78 |
|
Profit Before Tax |
12.02 |
21.01 |
4.15 |
|
Tax Expense |
2.59 |
5.8 |
1.47 |
|
PAT |
9.43 |
15.21 |
2.68 |
Portfolio Overview:
Two wheelers account for around 90% of the total portfolio. While Mumbai contributes 50% of the total portfolio, the GNPA of this book, as of Mar’23, is only 2.5%.
Disclaimer: The content of this blog should not be considered as financial or investment advice. Viewers may consult their financial advisor before any any investment. Above data stands as per published date only.