Buy Manappuram Finance, target price Rs 230: Motilal Oswal

Motilal Oswal has buy call on Manappuram Finance with a target price of Rs 230. The current market price of Manappuram Finance is Rs 184.

Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 15506.68 Crore) operating in NBFC sector.

Financials

For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 2326.68 Crore, up 7.02 % from last quarter Total Income of Rs 2174.02 Crore and up 34.14 % from last year same quarter Total Income of Rs 1734.52 Crore. Company reported net profit after tax of Rs 575.31 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 35.2 per cent stake in the company as of 31-Dec-2023, while FIIs owned 28.95 per cent, DIIs 12.15 per cent.