Manappuram Finance Limited (MANAPPURAM) has unveiled its strategic vision and financial performance highlights in the Q2 FY2027 investor presentation. The company, a leading gold loan player in India, showcased its robust growth and operational efficiency. The presentation covered key areas including the company’s vision and strategy, segmental performance, financial snapshot, and the role of the board of directors and management team.

Vision and Strategy

MANAPPURAM aims to become the financial partner of choice for under-banked customers across their lifecycle. The company’s vision includes creating a market for gold loans as a mainstream, convenient, and affordable product and becoming a one-stop shop for meeting customers’ borrowing and protection needs.

Financial Snapshot

The consolidated AUM for Q2 FY2027 stood at Rs. 73,303 crore, marking a 5.3% QoQ growth and a 60.1% YoY increase. The PAT for the quarter was Rs. 701 crore, showing a 19.9% QoQ and 222.9% YoY growth. The company’s ROE was 16.5%, reflecting strong financial health.

Segmental Performance

The gold loan segment continued to dominate with a consolidated gold AUM of Rs. 60,640 crore, witnessing a 6.4% QoQ and 92.5% YoY growth. The company’s operational rigor and prudent credit and risk management were highlighted as key drivers of its success.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Manappuram Finance Limited

Manappuram Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Manappuram falls 8.2% over three months and has not found a floor yet. D/E reaches 2.90. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 30.5% reflect exceptional pricing power and operational efficiency. The stock holds at 55% of its 52-week range with RSI at 48. In other words, neither side has a clear edge right now. Revenue grows at 7.3% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Manappuram Finance Limited.

Aye Finance Limited (AYE) has received an upgrade from ICRA to A+ with a stable outlook, marking the company’s second rating upgrade in FY27. This follows India Ratings & Research’s upgrade in June 2026, highlighting the company’s resilience amid an uncertain macroeconomic environment.

Stronger Capitalisation

The upgrade is supported by Aye Finance’s improved capitalisation profile, with a capital adequacy ratio of 41% and a net worth of INR 2695 Crores as of September 2026. The company’s managed gearing stands at 2.4X, demonstrating robust financial health.

Improved Asset Quality

ICRA noted a decline in gross stage 3 assets to 4.2% as of September 30, 2026, down from 4.8% as of March 31, 2026. This improvement underscores the company’s effective risk management and underwriting discipline.

Profitability and Liquidity

The company’s profitability has also seen a positive shift, with lower credit costs and tighter operating costs boosting profit after tax to INR 161 crore in H1 FY27. Additionally, unencumbered on-book liquidity stood at approximately INR 1,260 Crore as of September 30, 2026, ensuring adequate liquidity to support operations.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Aye Finance Limited

Aye Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Aye falls 14.4% over three months and has not found a floor yet. The PEG of 0.30 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 3.04. High leverage in this environment is a material risk the market cannot ignore. The stock holds at 59% of its 52-week range with RSI at 41. In other words, neither side has a clear edge right now. Revenue grows at 40.4% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Aye Finance Limited.

IIFL Finance Limited, one of India’s leading retail-focused non-banking financial companies, has announced plans to raise ₹6,414 crores ($686 million) through a major private equity infusion. This significant funding round, led by Blackstone, the world’s largest alternative asset manager, and the company’s promoters, aims to strengthen the company’s capital adequacy, support its growth, and improve its credit ratings.

Blackstone’s ₹5,000 Crores Investment

Blackstone will invest ₹5,000 crores ($535 million) in the company through a preferential allotment of compulsorily convertible preference shares (CCPS). These shares will convert into equity shares at ₹602 per share within 18 months. This substantial investment will provide a fully diluted stake of approximately 16% for Blackstone.

Promoters’ ₹1,264 Crores Investment

Concurrently, the company’s promoters, Mr. Nirmal Jain and Mr. R. Venkataraman, will invest ₹1,264 crores ($135 million) through a preferential allotment of warrants. This investment, alongside Blackstone’s, will enhance the company’s capital adequacy ratio from ~17% to ~30% (proforma Sept-26). The infusion will support the next phase of growth across its secured lending businesses, including its gold finance segment.

The entire investment will be infused as primary capital, which will not only strengthen the company’s balance sheet but also accelerate its growth in gold finance and other secured lending businesses. The partnership with Blackstone is expected to bring global scale, network, and operational expertise, including in technology, data, and AI, to IIFL Finance. This will help the company scale its businesses, attract high-quality talent, and strengthen its overall franchise.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of IIFL Finance Limited

IIFL Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

IIFL rises 10.8% over three months, with buying pressure holding steady. The PEG reaches 3.68, hard to justify given the growth. The market prices in a turnaround that has not arrived. D/E reaches 3.69. High leverage in this environment is a material risk the market cannot ignore. The stock holds at 70% of its 52-week range with RSI at 54. In other words, neither side has a clear edge right now. Revenue grows at 13.6% CAGR and the PEG stands at 3.68. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of IIFL Finance Limited.