About Manappuram Finance

The man who started it all – Late Shri V. C. Padmanabhan

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Committed to the financial well-being of our customers

The seeds of Manappuram Finance Limited (MAFIL) were sown in 1949 in the newly independent India when Shri V. C. Padmanabhan started offering small loans to the people of his village of Valapad. Many years later, MAFIL is one of India’s leading gold loan NBFCs.

From a purely gold loan lending company to a diversified financial services provider, we have grown by leaps and bounds. With a strong and expanding national footprint, robust digital capabilities and skilled workforce, we cater to the financial needs of our customers and will continue to do so with renewed vigour

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To become the preferred choice of financial services partner for India’s aspiring classes...


MAFIL is dedicated to the mission of bringing convenience to people’s lives, to make life easy...


At MAFIL we value our reputation for integrity in our dealings....

5.1 Million
Live Customers
Diversified Business Verticals
28 States and UTs

FY2021 Highlights

272 Billion
Assets Under Management
191 Billion
Gold Loan AUM
41116 Million
Net Interest Income
17249 Million
Profit After Tax


A story of unparalleled growth

From the small village of Valapad to having a pan-India presence, we have traversed an adventurous journey over nearly 30 years. Today, Manappuram Finance is a name synonymous with ‘gold loans’.

Our customers vest exceptional trust in us to keep their most precious asset – gold – secure and offer loans in return to meet their needs. We have gained this trust gradually overtime, through various technology and product innovations, and continue to prove ourselves worthy of their trust.


The beggining

  • Incorporated in Valapad village in Thrissur
  • First public issue of shares for ₹ 17.5 million with listing on the Bombay, Madras and Cochin stock exchanges
  • The RBI permits accepting public deposits
  • Major policy change sees MAFIL shifting its focus to gold loans

Laying the foundation

  • Commences forex business with moneychanger’s license from the RBI
  • Declares rights issue in 2003
  • Attracts institutional funding for the first time, with ICICI Bank sanctioning working capital facility of ₹ 250 million under a ‘bilateral assignment’

Strengthening the foundation

  • Fullerton India / Temasek sanctions credit limit of ₹ 500 million, enhances the limit to ₹ 4.8 billion within a year
  • Receives foreign institutional investment (FII) of ₹ 700 million from Sequoia Capital and Hudson Equity Holdings
  • Total business volumes of ₹ 10 billion in 2008
  • Total business volumes cross ₹ 50 billion in 2010
  • Raises ₹ 1.25 billion through QIP
  • Opens its 1,001st branch in Thrissur

Expanding by leaps and bounds

  • AUM grows to ₹ 75 billion in 2011 and crosses ₹ 100 billion in 2012
  • Branch network reaches 2,908, with more than 850 branches added in 2012
  • Pioneers introduction of shorter tenure loans (3-9 months) with lower loan-to-value (LTV) for longer tenure loans based on RBI stipulation on LTV
  • Acquires ownership of Milestone Home Finance Private Limited from Jaypee Hotels
  • Diversifies into home loans and commercial vehicle finance
  • Acquires Asirvad Micro Finance
  • Introduces online gold loan (OGL) in October 2015, becoming the first in the industry to do so

Preparing for the future

  • Acquires 100% ownership of Manappuram Insurance Brokers
  • Reaches 5.1 million live customers
  • Expands reach to a total of 24 states and 4 union territories with 4,637 branches
  • Commercial vehicles business achieves ₹ 10 billion AUM
  • The microfinance business enters the North Eastern region
  • Introduces OGL and Doorstep gold loan mobile application
  • The company’s first issue of US Dollar bonds ($300 million) listed on Singapore stock exchange

Our Businesses

For our customers’ diverse needs

  • Gold Loans
  • Asirvad Micro Finance Limited
  • Housing Finance
  • Vehicle and Equipment Finance
  • Others
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Message from

V.P. Nandakumar

We were able to bear the shocks due to our investments in advanced technologies which allowed us to offer customers the best-in-class products and services, even when our branches were closed by lockdowns

V.P. Nandakumar

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Board of Directors

Mr. Jagdish Capoor

Independent and Non-Executive Chairman

Mr. Jagdish Capoor holds a master’s degree in Commerce from Agra University and a fellowship from the Indian Institute of Banking and Finance.

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Mr. V. P. Nandakumar

Managing Director and Chief Executive Officer

Mr. V.P. Nandakumar is a post-graduate in Science with additional qualifications in Banking and Foreign Trade.

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Mr. B. N. Raveendrababu

Non-executive Director

Mr. B. N. Raveendra Babu holds a master’s degree in Commerce from the Calicut University and has completed his internship from the Institute of Certified Management Accountants.

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Mr. P. Manomohanan

Independent and Non-executive Director

Mr. P. Manomohanan holds a bachelor’s degree in Commerce from the Kerala University and a Diploma in Industrial Finance from the Indian Institute of Bankers.

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Mr. V. R. Ramanchandran

Independent and Non-executive Director

Mr. V. R. Ramchandran holds a bachelor’s degree in Science from the Calicut University and a bachelor’s degree in Law from the Kerala University.

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Mr. Gautam Narayan

Non-Independent and Non-executive Director

Mr. Gautam Narayan is a Chartered Accountant with a post-graduate diploma in Management from IIM, Ahmedabad.

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Ms. Sutapa Banerjee

Independent and Non-executive Director

Ms. Sutapa Banerjee is a gold medallist in Economics from the XLRI School of Management, and an Economics graduate from the Presidency College Kolkata.

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Mr. Abhijit Sen

Independent and Non-executive Director

Mr. Abhijit Sen retired as Chief Financial Officer of Citibank, India Subcontinent in 2015 after serving the organisation for almost 20 years.

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Mr. Harshan Kollara

Independent and Non-executive Director

Mr. Harshan Kollara is an experienced financial services professional, with over 40 years of experience in banking and financial services in India and abroad.

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Mr. Shailesh J. Mehta

Independent Non-Executive Director

Dr. Shailesh J. Mehta has completed his Bachelor of Technology in Mechanical Engineering from Indian Institute of Technology, Mumbai and holds a master’s degree in Operations Research from Case Western Reserve University.

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Mr. S.R. Balasubramanian

Additional director

S.R. Balasubramanian holds a Bachelor degree in Engineering (Electronics) from Madras University and has a Post Graduate Diploma in Computer Science from IIT Bombay to his name.

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Key Performance Indicators

Strategic 5-year plan

We believe that an organisation is defined not only by the products and services it offers, but also by its ambitions and objectives. Our objective is to continue growing our business with more vigour and improving our offerings.

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Digital strength

Earning customer trust through technology and innovation

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Skilled and passionate workforce

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Corporate Governance

Maintaining the highest standards of ethics

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Branding Initiatives

Brand Manappuram is built on the trust of the people we serve.

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Community initiatives

Towards inclusive growth

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