Manba Finance Limited is a Non-Banking Financial Company-Base Layer (NBFC-BL) that provides financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans, and personal loans. As of March 31, 2024, the company has an Asset Under Management (AUM) size of over INR90,000 lakhs. Approximately 97.90% of their loan portfolio comprises new vehicle loans, with an average ticket size of around INR80,000 for two-wheeler loans and INR140,000 for three-wheeler loans. The company operates out of Mumbai, Maharashtra, and has a presence in six states across western, central, and northern India. It has established relationships with over 1100 dealers, including more than 190 EV dealers. Its target customers are primarily salaried and self-employed individuals who seek quick loan processing. It typically funds up to 85% of the vehicle’s on-road price, ensuring customer equity participation for better financial discipline.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• Established relationships with the Dealers.
• Ability to expand to new underpenetrated geographies.
• Access to diversified and cost-effective long-term borrowing.
• Technology driven and scalable operating model with quick Turn Around Time (TAT) for loan processing.

• Augmenting Capital Base.
• Meeting Future Capital Requirements.
• Public Market Access.

For general corporate purposes

The company pertains primarily in Vehicle Financing. The company’s revenue almost doubled from INR~106.6 crore to INR~191.5 crore while PAT tripled from INR~9.7 crore to INR~31.4 crore. Considering upper price, the company expected to be list at P/E of 14.38 and P/B of 3. So we recommend to subscribe the stock for long term gain.