VP NANDKUMAR
Expecting reasonable gold growth in quarter 4
Ashirwad Microfinance IPO expectation march /april
Overall 18-20% growth expectations
Non gold 30% growth expectations
Gold 8-10% annual expectation
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I feel if such growth continues 10% gold and 30% non gold then in 6-7 years non gold profit will be more than gold loan profit
Asirvad IPO may come in Mid-March to early April
Interested in hearing your insight on Manappuram:
The market has numerous doubts , hence Manappuram’s valuations are appealing and undervalued.
Manappuram has proved itself consistently navigated through turbulent times.( demonitsation ,covid ,fluctuating gold prices ,ED raid )
Also they are the first one before muthoot to diversify in non gold aggressively ,later muthoot realised its importance and now they are also trying
High gold prices will help manappuram in 2024
https://indianexpress.com/article/business/banking-and-finance/rbi-bars-iifl-finance-from-sanctioning-disbursing-gold-loans-9195764/
Manappuram will get an edge post ban on iifl
can manapuram become number 2 again?
Highly probable
How will this affect the industry?
Players might become alert good for people who follow the rules
Is the industry so diluted that no single player will make gains from this ?
Most likely
Is our company following compliance?
Hope so
Give me your opinion
I think Manappuram can become no.2 but the customer base served by both IIFL and Manappuram is different
I believe Manappuram has largely stayed rational when it comes to LTV and that was one of the reasons they lost material market share to IIFL.
The only time in recent tear where Manappuram did go aggressive was back in 2022 mid when there was some dip in gold prices and they decided to auction a higher portion of gold which led some customers away from doing repeated loans with Manappuram.
I think, ban on IIFL is a big positive for the incumbents and between Manappuram and Muthoot, whoever is a little aggressive here can quickly gain market share.
It appears that the RBI is intensifying its scrutiny of NBFCs. IIFL has suffered losses in the gold sector, while JM has been affected in IPO financing. This crackdown benefits ethical companies, preventing them from losing market share to those engaging in unethical practices, such as extending loans beyond eligibility criteria, which can lead to market dominance.
Looks like IIFL was giving more loan on less gold
From highs of 199 yesterday to low of 169 right now - is this not fishy? Just in fear of scrutiny, this would be an overreaction.
Anyone has an updated view? Seems like a good buying opportunity otherwise
Jm financials is restricted for ipo financing .
And JM financial is the prime merchant banker of aashirwad microfinance. Subsidiary of manappuram.
Well, Just News impact i guess it should be… Ter is No Change in respective to financials or valuations perspective for long term.
https://www.ndtvprofit.comgold-loans-valuations-turn-attractive-for-both-muthoot-manappuram-finance-icici-securities/
ICICI positive report on both muthoot and Manappuram
I feel Gold at high and IIFL at low ,Manappuram and muthoot will have a edge in coming quarters
It sure isnt an easy business - fraud of 5.5cr - keeping the loan repayments to themselves and taking the gold jewellery to take loans on it again - was going on for more than a year - audit processes are a bit questionable
Disc - Invested
Near term triggers
Gold price going up
IIFL down
Indian growth story
Awaiting branch expansion approval
Awaiting ashirwad ipo
Manappuram PE8
Muthoot PE 16
Manappuram valuations almost half while expected growth is more than muthoot ,more diversified than muthoot
Looks like sooner or later Manappuram valuations will catch up with muthoot
https://twitter.com/i/broadcasts/1DXGyjOMBzNJM
Sentiments and prospects looking very positive
Next couple of quarters will be interesting
How long PE of 8 will last in bull run lets see
Asirwad Microfinance IPO gets approval from SEBI: Manappuram Finance stock jumps 5% as unit Asirwad Microfinance gets SEBI nod for IPO
Any idea how the value unlocking works for Manappuram?
