On 14 February 2022, Manappuram Finance Limited published its results for the 3rd quarter ending December 2021. The key takeaway was that despite the impact of the omicron variant (which was particularly severe in December), we achieved good growth in our business volumes. Our consolidated AUM stood at Rs.30,400 crore, registering a sequential (or quarter-on-quarter) growth of 7 per cent. In our core business of gold loans, the loan book crossed the Rs.20,000 crore landmark while our microfinance subsidiary’s portfolio surged past the Rs.7,000 crore mark. There was good growth in vehicle and equipment finance division which contributed over Rs.1,500 crore while our home loans subsidiary accounted for about Rs.800 crore in business.
These figures were extensively reported in the media and it is not my intention to talk more about it now. Indeed, for the purpose of this article, I would like to focus on another number that did not get the attention it deserved. That number, also Rs.800 crore, is the business achieved by what we refer to internally as our ‘other verticals’ which mainly includes MSME loans besides micro-home finance and personal loans. Within this Rs.800 crore, the largest chunk of about Rs.350 crore is contributed by MSME loans followed by micro home finance at about Rs.250 crore. At first sight, there is nothing remarkable about any line of business reaching a level of Rs.800 crore in a company where the total loan book is north of Rs.30,000 crore. But then, keep in mind that as late as three years ago, this business did not exist in our books. Yes, it was only in January 2019 that we kicked off this business with the first MSME loans disbursed to a small shop owner specializing in hardware at Angamaly, a small town close to where the Kochi airport is located.
The start
Esta historia es de la edición March - April 2022 de UNIQUE TIMES.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March - April 2022 de UNIQUE TIMES.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
How Should The Student Today Focus On AI?
Incorporating AI knowledge into any curriculum, whether students are pursuing humanities, social sciences, natural sciences, or technical fields, can significantly bolster their understanding and preparedness for a world increasingly influenced by artificial intelligence.
Lexus RX500h F Sport
Things may be different in India, but the RX is the best-selling Lexus model worldwide. First launched in 1998, and now in its fifth generation, the RX stands for Radiant Crossover. While the RX350h has been on sale here for a long time, it is the first time we are getting the more performance-oriented RX500h F Sport.
Beyond the Beaches: Delving into the Heart of Nice, France
Ranked as France's fifth largest city and recently anointed as a UNESCO World Heritage Site, Nice is experiencing a renaissance, thanks to a wave of extensive renovations.
From Kitchen to Beauty Cabinet: Fenugreek for Skin and Hair Perfection
Fenugreek, also known as methi, is a versatile herb native to the Mediterranean region, southern Europe, and western Asia.
No Dream Is Ever Just a Dream!
All those who dreamt against the odds, from Walt Disney to Mahatma Gandhi to Mark Zuckerberg, all of them had one thing in common even when others or the whole world opposed or when they were let down several times, they still believed in their dream.
Food Safety: From Farm to Plate
Have you ever stopped to consider the journey your food takes from the farm to your plate?
"Genuine hardship"- Is this a ground to claim relief under income-tax laws?
The legislative intent behind granting the power to overlook procedural delays is to ensure that cases are resolved based on their actual merits, promoting fair justice.
Severe Neuropathy Can Result From Uncontrolled Diabetes
Good control of diabetes over time is the key to treating diabetic neuropathy. There is no cure for neuropathy, but keeping your blood sugar within a target range can reduce symptoms and prevent them from getting worse.
Amol Patankar: Maharashtra's Herald of Change
\"Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.\" This quote by Melody Beattie perfectly encapsulates the essence of one dedicated individual's journey and mission. His profound gratitude for his roots has shaped his tireless efforts to transform his village and beyond. His appreciation for the past has guided his understanding of the community's needs, while his actions today bring peace and improvement to the lives of many. This deep sense of gratitude fuels his vision for a better tomorrow, inspiring initiatives that promise sustainable development and a brighter future for the region. Through his work, he exemplifies how acknowledging one's heritage can pave the way for meaningful and impactful progress. This individual, whose efforts and vision embody the true spirit of gratitude, is none other than Amol Patankar.
The Three 'C's of Growth
Consumption, capex and credit to add steam to India's economic growth
