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Manappuram Finance Declares Interim Dividend and Announces Key Financial Decisions

Mumbai, August 13, 2024 — Manappuram Finance Limited, a leading non-banking financial company in India, has made significant announcements following its latest board meeting. The board approved the financial results for the quarter ending June 30, 2024, declared an interim dividend, and outlined plans for future fundraising.

Key Announcements from the Board Meeting

Approval of Financial Results for Q1 FY 2024-25

Manappuram Finance reported its unaudited standalone and consolidated financial results for the first quarter of FY 2024-25. The financial results, which were reviewed by the company's Audit Committee, highlighted steady performance with notable revenue and profit figures.

• Revenue: ₹2,386.08 crores
• Profit Before Tax: ₹752.80 crores
• Net Profit: ₹440.58 crores

These figures reflect the company’s robust financial health and its ability to navigate market challenges effectively.

Interim Dividend Declared

The board declared an interim dividend of ₹1 per equity share with a face value of ₹2. The record date for determining shareholders entitled to receive the dividend is set for August 26, 2024. Dividend payments are scheduled to be disbursed on or before September 11, 2024.

Fundraising Program Announced

Manappuram Finance has also approved a fundraising program for the financial year 2024-25 through External Commercial Borrowings (ECB) and Secured Notes. This move aligns with the company's strategy to strengthen its financial base and support future growth initiatives.

Financial and Operational Highlights

Manappuram Finance continues to show strong operational performance across its business segments:

• Gold Loan and Others: This segment generated a revenue of ₹1,736.10 crores.
• Microfinance: Revenue from this segment stood at ₹775.23 crores.

The company also reported its segment-wise results, with the Gold Loan and Microfinance segments contributing significantly to the overall profit before tax.

Transparency and Compliance

Manappuram Finance remains committed to transparency and compliance. The company has disclosed all necessary information under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including details about security cover, utilization of issue proceeds, and other relevant financial covenants.

Conclusion

Manappuram Finance Limited’s latest board meeting has set a positive tone for the company's future, with strong financial results, a declared interim dividend, and planned fundraising activities. These developments highlight the company's focus on growth and shareholder value, reinforcing its position as a key player in the non-banking financial sector.