External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>No impact of RBI regulations on gold loan disbursals – With the regulator restricting the cash disbursements over Rs 20,000 for gold financiers, Manappuram has surprisingly seen an increase in demand for online gold loans.</li><li>The company has been a pioneer in the online gold loans and benefits from the first mover advantage, as multiple gold financing NBFC peers do not have adequate and/or appropriate infrastructure to comply with the restrictions.</li><li>Post the restrictions, Manappuram has seen an increase in the customers opting for an online gold loan to ~63% vs 60% earlier. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

No impact of RBI regulations on gold loan disbursals – With the regulator restricting the cash disbursements over Rs 20,000 for gold financiers, Manappuram has surprisingly seen an increase in demand for online gold loans.The company has been a pioneer in the online gold loans and benefits from the first mover advantage, as multiple gold financing NBFC peers do not have adequate and/or appropriate infrastructure to comply with the restrictions.Post the restrictions, Manappuram has seen an increase in the customers opting for an online gold loan to ~63% vs 60% earlier. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Manappuram Finance Ltd. - Strengthening Collections to Improve Asset Quality

Thematic (Sector/Industry)

<ul><li>The systemic credit growth (as of 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).</li><li>Based on the provisional updates released by banks thus far, along with the systemic growth momentum and considering Q4 as a seasonally strong quarter, we expect the banks under our coverage to reflect these trends and register a ~17-18% YoY credit growth (ex-HDFC).</li><li>Credit growth continues to be led by the retail and SME segments, with a gradual pickup in corporate lending. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The systemic credit growth (as of 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).Based on the provisional updates released by banks thus far, along with the systemic growth momentum and considering Q4 as a seasonally strong quarter, we expect the banks under our coverage to reflect these trends and register a ~17-18% YoY credit growth (ex-HDFC).Credit growth continues to be led by the retail and SME segments, with a gradual pickup in corporate lending. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.</li><li>Comments around RBI asking banks to maintain CD Ratio around ~75% dominated the discussion during the quarter.</li><li>Most banks have highlighted that deposit accretion would remain a key lever to maintain the pace of credit growth. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.Comments around RBI asking banks to maintain CD Ratio around ~75% dominated the discussion during the quarter.Most banks have highlighted that deposit accretion would remain a key lever to maintain the pace of credit growth. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Manappuram Finance Ltd. (Manappuram) is an NBFC, with a diversified lending portfolio.</li><li>Having started off with gold financing, the company entered into Microfinance (MFI), Vehicle, and Affordable Housing Finance through its subsidiaries.</li><li>The company has a pan-India presence of over 5,000 branches with an employee strength of 45,000+ employees on a consolidated basis.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Manappuram Finance Ltd. (Manappuram) is an NBFC, with a diversified lending portfolio.Having started off with gold financing, the company entered into Microfinance (MFI), Vehicle, and Affordable Housing Finance through its subsidiaries.The company has a pan-India presence of over 5,000 branches with an employee strength of 45,000+ employees on a consolidated basis.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week: Manappuram Finance Ltd. - 19 FEB 2024

<ul><li>The company reported robust growth in AUM growth of 27/4% YoY/QoQ, mainly driven by healthy growth in MFI (Up 32% YoY, 6% QoQ), vehicles (Up 70/14% YoY/QoQ) and housing (Up 41/8% YoY/QoQ).</li><li>However, the gold loan book remained flat sequentially.</li><li>Despite an increase in cost of borrowing by 20 bps QoQ to 9.1%, NIM (calc) increased to 13.7% Vs 13.4% QoQ as gold loan yield improved from 21.9% in Q2FY24 to 22.3% Q3FY24. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company reported robust growth in AUM growth of 27/4% YoY/QoQ, mainly driven by healthy growth in MFI (Up 32% YoY, 6% QoQ), vehicles (Up 70/14% YoY/QoQ) and housing (Up 41/8% YoY/QoQ).However, the gold loan book remained flat sequentially.Despite an increase in cost of borrowing by 20 bps QoQ to 9.1%, NIM (calc) increased to 13.7% Vs 13.4% QoQ as gold loan yield improved from 21.9% in Q2FY24 to 22.3% Q3FY24. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Manappuram Finance - AUM Growth Remains Robust; Uptick in NPA

India

Manappuram Finance Ltd. is a non-banking finance company. The Company offers loans against gold collateral, business loans, vehicle loans, foreign exchange and money transfer services; and sells gold coins.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Manappuram Finance (MGFL IN)

Manappuram Finance Ltd. - Strengthening Collections to Improve Asset Quality

With the regulator restricting the cash disbursements over Rs 20,000 for gold financiers, Manappuram has surprisingly seen an increase in demand...

Axis Direct

BFSI Q4FY24 - Earnings Preview

The systemic credit growth (as of 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).

Axis Direct

Top Sector Ideas - BFSI

Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.

Axis Direct

Pick of the Week: Manappuram Finance Ltd. - 19 FEB 2024

The company has a pan-India presence of over 5,000 branches with an employee strength of 45,000+ employees on a consolidated basis.

Axis Direct

Manappuram Finance - AUM Growth Remains Robust; Uptick in NPA

The company reported robust growth in AUM growth of 27/4% YoY/QoQ, mainly driven by healthy growth in MFI (Up 32% YoY, 6% QoQ), vehicles (Up 70/14%...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)