Manba Finance Q2 FY27 Results (NSE: MANBA)
Signal: Earnings grew
The read
The trajectory remains positive but less profitable than the revenue growth suggests: Q2FY27 total income grew 25.81% YoY while PAT grew 20.49%, as impairment expense accelerated 53.30% YoY to ₹801.22 lakh; sequential PAT growth also moderated to 3.55% from Q1FY27.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹97.76 Cr | 25.81% | 5.56% |
| Net profit | ₹13.73 Cr | 20.49% | |
| EPS | ₹2.73 | 20.26% | |
| EBIT margin | 0% |
P&L walk
Standalone total income rose 25.81% YoY to ₹9,776.31 lakh and PAT rose 20.49% to ₹1,373.41 lakh, but impairment expense increased 53.30% YoY to ₹801.22 lakh and finance costs rose 16.29% to ₹4,047.16 lakh, limiting profit conversion.
Key positives
- Total income reached ₹9,776.31 lakh, up 25.81% YoY and 5.56% QoQ, with interest income up 28.86% YoY to ₹9,263.61 lakh.
- Finance costs grew 16.29% YoY to ₹4,047.16 lakh, slower than total-income growth of 25.81%, supporting expansion in the derived interest spread pool to ₹5,216.45 lakh.
- Loans increased 4.75% from 31 March 2026 to ₹1,63,438.75 lakh, while cash and cash equivalents increased 31.60% to ₹23,402.65 lakh.
Key concerns
- Impairment on financial instruments rose 53.30% YoY to ₹801.22 lakh, materially faster than total-income growth of 25.81%.
- PAT growth of 20.49% YoY lagged total-income growth by 5.32 percentage points, and sequential PAT growth slowed to 3.55%.
- Borrowings other than debt securities stood at ₹1,07,743.83 lakh and debt securities at ₹49,059.73 lakh against equity of ₹43,436.32 lakh at 30 September 2026, underscoring the balance-sheet funding intensity.
Research and educational content only. Not investment advice.