Fitch Ratings has affirmed Manappuram Finance Limited’s (MFIN) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BB-‘ with a Stable Outlook. This rating reflects the company’s moderate franchise in semi-urban and rural consumer lending, particularly in gold-backed loans, which make up 56% of its consolidated portfolio.
The affirmation is supported by steady asset quality, backed by liquid collateral and stable funding access. However, the rating also considers a shifting business mix that indicates a higher risk appetite and a history of regulatory compliance findings.
As of now, Manappuram’s shares are trading at ₹213.75, down by ₹1.10 or 0.51% at 2:36 PM.
Stock Price Details:
– Open: ₹213.52
– High: ₹216.85
– Low: ₹211.66
– Previous Close: ₹214.85
The affirmation by Fitch highlights Manappuram’s established position in the gold loan market and its potential for growth, despite challenges related to governance and compliance.
