So am I correct in simplifying it by saying
Provisions = Loans expected to go bad / have gone bad already
Gross NPA = Overall loans that have gone bad
Net NPA = Gross NPAs minus provisions
Puneet Kaur Kohli has joined Manappuram Finance as Group CTO. Headquartered in Cochin, Manappuram Finance is one of India’s leading gold loan NBFCs. Incorporated in 1992, Manappuram Finance has 4148 branches across 27 states/UTs with assets under management (AUM) of Rs. 13,723 crore and a workforce of 22,112.
In her new role, Puneet Kaur Kohli will be based at the company’s headquarters in Cochin and will report to the MD & CEO of Manappuram Finance VP Nandakumar.
It is interesting to note that Manappuram Finance has always been an early adopter of industry-leading technologies. It was one of the earliest to adopt the core banking platform despite the fact there were no ready-made software solutions for gold loans NBFCs. It developed its own proprietary solutions, and this technology platform has been one of its core strengths. The firm has leveraged technology in streamlining procedures to reduce turnaround times in gold loan disbursal and in implementing advanced risk management practices. It launched “Online Gold Loans” in 2015.
As the Group CTO, Kohli will be tasked with high priority projects aimed at the digital transformation of the gold loan NBFC. Her near-term priorities at the company including e-KYC, transitioning the ERP on cloud, adoption of analytics for customer centricity, mobility initiatives and creating a single view of the customer.
Prior to this, Kohli served as the Group Executive Vice President IT & CTO at Bajaj Capital. In a career spanning 24 years, she has worked with companies like Motorola, Reliance, Duncans, Carrier Aircon, UK Land Investments, Bharti Airtel Limited, Soma Networks and Motricity in countries namely, Dubai, US, UK, Canada & across APAC.
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Hi All
I am looking for Manappuram annual reports from 1995 to 2006. Does anyone have copy of all annual reports.
Thanks
Hari
Hope you find this helpful!
Purchase of 27,65,880 shares by Quinag Acquisition (FPI) Ltd.
Couldn’t find it on BSE. However, it is there on the mannapuram website, Check under corporate announcements
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They did purchase at an avg price of Rs94.73 in 2017 as well.
purchase of 14,70,000 (Fourteen Lakhs Seventy
Thousand only) shares by Quainag Acquisitions (FPI) Ltd.
What you state is besides the purchase of 1.51Cr shares . 1.51 Cr shares were bought around
Rs 94.7 per share.At what price this deal was concluded. Any idea?
Thnak you for the info. 1.51 Cr shares was dated back to Aug 2017 @Rs 94 .73. Latest additon of the transaction stated by you was @ Rs 105 to 107. Quinag acquisition is prerunner of interesting times ahead in Manappuram.
Indiabulls Asset Management exited.
UTI Asset Management entered.
Came across a news item about Manappuram Gold in few Tamil dailies and weeklies. The news states that, one of the branch manager named Mr. Kalathi Perumal of Jayankondam Branch, Ariyalur District, allegedly involved in a scam worth Rs.47.70Lakhs and the said person is arrested and FIR filed as well. In the first level of investigation, it’s found that 150 customers were affected.
News links in Tamil:
http://www.dinakaran.com/News_Detail.asp?Nid=384952
Brief on the scam:
The branch manager mostly targets the uneducated people. Once the customers submit their documents for certain amount of loan, the manager call them personally and ask them to sign further more papers. Those papers will be having statement that, those customers wanted to increase their loan amount.
Example: If one customer need a loan of Rs.2 Lakh, he completes the paper work and initiated the process and goes to home. Now, the manager call that customer after 10 days and trick them to sign further papers. Which is for increasing it from Rs.2Lakh to Rs.2.5Lakh and attach that “loan increase request” to their account. Now he goes on and process the loan, pass the 2Lakh to customer and pocket the 50k to himself.
This scam came into light in the year end audit.
I’ve sent an email to cs@manappuram.com, for more details on this news and awaiting their response.
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Purchase of 15000 (Fifteen Thousand only) shares by Mr.Ekalavian P.K, Immediate relative to promoter group. 23 March
IDBI Capital initiates coverage on gold loan companies.
Disc : Invested.
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Mannappuram buys office space in Mumbai
Reporting profit this quarter
AUM growth fy19 aiming 20% ,profit will be much higher ,Pe half of growth ,if market corrects gold will be stable or high ,limited downside ,possible rerating
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