Manba Finance share price today

Manba Finance Ltd's share price was ₹144.14 at the close on 5 November 2026. It has been rising for 14 weeks. That is 9.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹105 and ₹146, and at that close it sat 96% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Manba Finance Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 10 weeks in a row.

Over the last 2.1 years the share price moved +4% while the NIFTY 500 moved −7%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 8 quarters in a row, highest quarterly profit in 15 quarters and highest quarterly revenue in 15 quarters.

1. Revenue up on a year earlier for 8 quarters in a row

   In the September 2026 quarter revenue was ₹98 crore, +25.6% on a year earlier.

   Why: Revenue rose because the company gave out more loans and its loan book grew.

   Next results: check whether festive demand and new Karnataka dealers turn into loans in January.

   From the earnings call on 28 Oct 2026.

2. Highest quarterly profit in 15 quarters

   Profit of ₹14 crore in the September 2026 quarter is the highest of the last 15 quarters.

   Why: Profit rose because net interest income, what the company earns on loans minus what it pays to borrow, grew, though spending on new branches and sales staff held the rise back.

   Next results: check if new branches and sales hiring keep costs high.

   From the earnings call on 28 Oct 2026.

3. Highest quarterly revenue in 15 quarters

   Revenue of ₹98 crore in the September 2026 quarter is the highest of the last 15 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Manba Finance reported total income of ₹98.0 crore, up 25.6% from ₹78.0 crore a year earlier, and a profit of ₹14.0 crore, up 27.3% from ₹11.0 crore.

Manba Finance results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Manba Finance's management discussed these results on a call held on 28 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Income and profit in ₹ crore.

Manba Finance closed at ₹144.14 on 5 November 2026, up 2.7% from ₹140.34 a year earlier (7 November 2025). Its highest weekly close since October 2024 was ₹182.70 on 6 December 2024.

Manba Finance share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

115 weekly closes from 4 October 2024 to 5 November 2026.

6 Nov 2026: Coming up: ex-date for an interim dividend of ₹0.25 a share. 5 Nov 2026: Manba Finance closed at ₹144.14, down 0.9% on the week and up 1.8% on the month.

Earlier

• 28 Oct 2026: Manba Finance held its results call for July to September 2026. Management guided: FY27 and FY28 AUM growth 30-35% each with second-half festive weighting.
• Results for July to September 2026: Total income up 25.6% and profit up 27.3% on a year earlier.
• 18 Sep 2026: ex-date for a dividend of ₹0.25 a share.
• 7 Aug 2026: ex-date for an interim dividend of ₹0.25 a share.
• 6 Feb 2026: ex-date for an interim dividend of ₹0.25 a share.

Manba Finance paid ₹1.25 a share in regular dividends in the 12 months to 5 November 2026 (4 payments), a yield of 0.87% at the ₹144.14 close on 5 November 2026. The last was a dividend of ₹0.25 a share, ex-date 18 September 2026. Next: ₹0.25 a share, ex-date 6 November 2026.

Manba Finance dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Manba Finance Ltd paid out 11% of its profit as dividends in FY26, and it paid a dividend in 2 of its last 9 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 28 October 2026, Manba Finance's management guided: FY27 and FY28 AUM growth 30-35% each with second-half festive weighting.

“We have onboarded more than 100 dealers in Karnataka in the first 60 days of operations.”Manish Shah, on the call for July to September 2026

What management guided

• October net AUM addition ₹120 crore after run-down with similar November expected.
• MSME LAP to ₹5 crore monthly by January; 5-6 new small business branches for ₹3-4 crore disbursements with correspondent network to 10-12 active.
• Borrowing cost down 25 basis points as ₹600 crore pre-2025 book runs off by March; 50 basis points below September plus 50-75 basis points upgrade cushion offsets rise.
• Preferential ₹100 crore close by November 6 with capital supporting 4-6 quarters growth alongside profits.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 28 October 2026.

One change in Manba Finance's own numbers looks lasting: new regions and countries.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The thesis would break if the expanding loan book produces worsening gross and net NPAs alongside a decline in reported profit, with management unable to reconcile the deterioration through product-level credit costs and funding economics.

Each change stops working if

• Core loan growth through the existing distribution network: Disbursements fail to translate into AUM growth, or lending growth requires pricing and underwriting concessions that reduce retained earnings.
• TVS three-wheeler distribution: Activated dealers do not originate performing loans, or vehicle recovery losses overwhelm OEM support.

The main risks

• Funding-cost relief remains undelivered: Liquidity carry has reversed the earlier average-cost decline. ⚠ estimate
• Diversification can import unseasoned credit risk: Higher-yield lending may exchange concentration risk for higher loss and servicing costs. ⚠ estimate
• Profit guidance is no longer specific: Earlier quantified profit goals should not be treated as current commitments. ⚠ estimate

Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Manba Finance reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Revenue keeps growing above 25% year on year in Sep 2026 while gross bad loans stay at or below 3.5%.

Manba Finance is on 2 of our India lists: Multibagger study list and Momentum stocks.

Manba Finance Ltd earned ₹14.0 Cr of net profit in the Sep 2026 quarter, +27.3% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹45.0 Cr. Over 11 years profit has grown 24.6% a year on average. That is 14.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹11.0 Cr.

For the full year, FY26 profit was ₹45.0 Cr (+18.4% on the year before).

Why profit moved: revenue changed +25.6% on a year earlier and the margin moved +0.2 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +23.7% and revenue +32.9%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY27-Q1. revenue ₹93 Cr and profit ₹13 Cr as reported.

FY27-Q2. revenue ₹98 Cr and profit ₹14 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Manba Finance Ltd reported ₹98.0 Cr of income in the Sep 2026 quarter, +25.6% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 11 years it has grown 24.7% a year on average. The last full year, FY26, came in at ₹328 Cr.

For a bank, revenue is everything it earns: interest on its loans plus fees and other income.

The last four reported quarters add to ₹374 Cr.

FY26 revenue was ₹328 Cr, +30.7% on the year before.

Recent pace: the last four quarters grew +32.9% on average, against 24.7% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +32.6%, against +31.3% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +21.4%, against +26.2% a year (rolling over).

FY27-Q1. revenue ₹93 Cr and profit ₹13 Cr as reported.

FY27-Q2. revenue ₹98 Cr and profit ₹14 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Manba Finance Ltd's net margin was 14.3% in the Sep 2026 quarter, 0.2 percentage points higher than the same quarter a year ago. Across 9 years it has been between 8.4% and 16.1%. The latest quarter is within that range.

Net margin is what the bank keeps from every ₹100 of revenue after every cost, provision for bad loans and tax. It is the clearest single margin we can read for a lender.

Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

FY27-Q1. revenue ₹93 Cr and profit ₹13 Cr as reported.

FY27-Q2. revenue ₹98 Cr and profit ₹14 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Manba Finance Ltd's gross NPA, the share of loans that have stopped being repaid, is 3.41% in Jun 2026, down from 3.68% a year ago. After the money already set aside for bad loans, 2.52% is left (net NPA). Across the 9 quarters on file it has been between 2.83% and 3.68%.

Gross NPA is the share of the loan book where repayments have stopped. Net NPA is what is left after the money the lender has already set aside for those loans. Falling is good; rising is a warning.

Falling bad loans mean the loan book is healing; rising ones mean new damage.

In Jun 2026, gross NPA was 3.41% and net NPA 2.52%, against 3.68% and 2.82% a year ago.

The bad-loan figures stop at Jun 2026, and our data does not yet carry gross and net NPA for the quarters after it, although results up to Sep 2026 are in. They are shown as filed, not estimated.

In short: a lender's profit growth is only as good as its loans, and this loan book is better than a year ago. Quarterly detail on money set aside for bad loans is not in our data yet, so this shows the levels and the trend, not the cost of the clean-up.

Why bad loans moved: recoveries, write-offs and new bad loans all play a part. That split is not in our data, so the page shows the trend without the breakdown.

Manba Finance Ltd's revenue was ₹328 Cr in FY26, +30.7% on the year before, so the loan book is growing. The latest quarter was +25.6% on a year earlier. The net margin on that income is 14.3%, +0.2 percentage points on a year ago.

We read the loan book through revenue: when the book grows, revenue grows with it. It is only a rough guide, because interest-rate changes and fee swings can move it a few points in any year.

Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year.

In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses.

Manba Finance Ltd's P/BV is 1.7×, near the low end of its own history: it has been lower only 25% of the time. Its usual P/BV (the middle reading) is 1.8×, over 2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

For a bank or lender we compare the price with book value, the net worth on its balance sheet. P/BV is how many rupees the market pays for each ₹1 of that net worth. Below 1× means the market values it at less than its net worth.

Why the multiple is low: this lender earns about 12% a year on its equity. A lender that earns less on its net worth is valued lower for each rupee of it, and that gap usually closes only if returns improve.

Why the multiple is where it is: over the past year book value grew while the price moved +2.7%. Price and book value moved together, so the multiple stayed in its range.

In short: the multiple is low against its own past, so the book value trend underneath matters more than the multiple.

Worked out from its price on 11 October 2026, Manba Finance Ltd's share price assumed profit growth of about 7.6% a year. Over the past 11 years its profit actually grew 24.6% a year. Today its P/BV is 1.7×, lower than 75% of its own last 2 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 5 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

Manba Finance Ltd's business is giving mixed signals. Growth has been steadily positive, but ROE at 11.7% is below the 12% level needed to call it steady growth. This is based on 11 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Manba Finance Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: MID EXPANSION.

NOT YET CHECKED

From the numbers. The operating business is in mid-expansion and the separate price curve is at stage 2…

From the price. Price stage 2, week 14, above its 200-day line, relative strength rising.

Where they disagree. Stable asset quality and uneven profit conversion argue for testing funding and mix execution before assuming better sustainable returns.

What is not proven yet. The thesis would break if the expanding loan book produces worsening gross and net NPAs alongside a decline in reported profit, with management unable to reconcile the deterioration through product-level credit costs and funding economics.

What would change our mind. The thesis would break if the expanding loan book produces worsening gross and net NPAs alongside a decline in reported profit, with management unable to reconcile the deterioration through product-level credit costs and funding economics.

The test written in advance. The thesis would break if the expanding loan book produces worsening gross and net NPAs alongside a decline in reported profit, with management unable to reconcile the deterioration through product-level credit costs and funding economics. Measured by: the thesis as written as stated by the next result.

The test written in advance. Funding-cost relief remains undelivered. Measured by: Funding-cost relief remains undelivered by the next result.

The test written in advance. Diversification can import unseasoned credit risk. Measured by: Diversification can import unseasoned credit risk Gross and net NPAs rise together as non-core products grow, or management declines to disclose product-level losses. by the next result.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: The latest quarter suggests improved lending profitability. The research reads it further: Interest expense increased with the larger lending operation, while the tax rate fell sequentially. Profit improvement cannot be attributed entirely to core spread or operating efficiency.

What the surface reading misses. The surface reading is: The March profit comparison indicates recovery. The research reads it further: The prior March profit base is lower, and the March tax rate is above the following June rate. The summary's March asset-quality figures also differ from these cells.

• 1 · Operating leveragequiet
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 2 · Value-added mix: building. New products can change the income mix, provided their extra yield survives credit losses and collection expenses. What proves it keeps working: Higher-yield product diversification. It stops working if The new products fail to gain portfolio share or their incremental credit and servicing costs absorb the extra yield.

Sources: our stock research file (10 October 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Manba Finance Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

FY27 Growth Guidance Reduced · 28 October 2026. In Jul 2026, management guided to AUM growth of 35% to 40%, while in Oct 2026 it guided to 30% to 35%, a 5 percentage-point reduction at both ends of the range. The latest call cited festive-season momentum to support the revised range but did not reconcile the lower guidance with the prior call.

Apparent Equity Raise Instrument Change · 28 October 2026. In Jul 2026, management described the planned INR 100 crore raise as preference shares. In Oct 2026, management described the approximately INR 100 crore transaction as a preferential issue of equity and warrants, which implies a materially different capital instrument and potential dilution profile that was not reconciled.

Core Vehicle Segment Description Changed · 28 October 2026. In May 2026, management described the financed vehicle base as primarily 100cc to 125cc and used that profile to explain low, necessity-driven risk. In Oct 2026, it said Manba was mainly active in the 150cc segment, a materially different customer and risk profile that was not reconciled.

FY27 PAT Goal No Longer Provided · 28 July 2026. In the Jan 2026 call, management gave an explicit FY '27 PAT goal of Rs. 65 crore to Rs. 70 crore. In the Jul 2026 call, it declined to provide specific guidance and replaced the quantified outlook with a generic statement about historical performance, without explaining whether the earlier goal still stands.

Every quote above is taken word for word from the company’s own earnings calls.

Manba Finance Ltd earned a return on equity of 12% in FY26. Its lowest yearly reading on file was 9% in FY21. On its assets, every ₹100 earned about ₹2.61, before the effect of borrowing. For a lender the balance sheet is the business, so the return on equity and on assets have to be read together.

Two numbers rate a bank: ROE, what it earns on shareholders’ money, and ROA, what it earns on all its assets. An ROE above about 13 to 15% is healthy; below that, net worth grows slowly.

That return is below the level a bank needs to grow its net worth quickly, which helps explain why its multiple is where it is.

Why ROE moved: profit grew 24.6% a year over 11 years while net worth grew more slowly. When earnings recover faster than net worth builds up, ROE climbs off its low.

For a bank, borrowing is the raw material of the business, not a warning sign: it borrows money in order to lend it out. Its safety is read through its returns and its loans. Its safety is read from the bad-loan figures and the return on equity instead.

Why this happened. Management has raised its annual AUM-growth ambition and described a festival-led lending pickup. Existing distribution provides a route to customers, but borrower demand and dealer activity are dependencies rather than guaranteed retained profit. The latest revenue and PAT comparison shows incomplete profit conversion. Price movement does not confirm this mechanism, and competitors' next pricing response is unknown.

For a manufacturer, debt is a claim on its profits. For a lender it is the stock it trades in, so the usual debt-to-equity test would mislead and is not used here.

Foreign institutions cut their stake in Manba Finance Ltd by 4.1 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 1.1% of the company. Domestic institutions moved −3.3 points over the same period, to 0.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −4.1 points over 8 quarters, to 1.1%; Domestic institutions: −3.3 points over 8 quarters, to 0.0%; Promoters: +0.0 points over 8 quarters, to 75.0%.

Why the owners changed: foreign institutions drove it (−4.1 points), together with domestic institutions (−3.3 points). They reduced their stake.

For Manba Finance Ltd, the Z-score is not used, because it was built for manufacturers, not lenders. For a lender, safety is read from its capital and bad-loan figures instead.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

51.0 out of 100, rank 6 of 9 in NBFC - Others, with 72% of the evidence available.

Manba Finance Ltd scores 51.0 out of 100 against the 9 companies it is compared with in NBFC - Others, ranking 6. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 15.9 + 13.1 + 10.8 + 11.2 = 51. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector.

Manba Finance ranks 6 of 9 NBFC - Others companies on the 4-Factor Sector Score, with 51.0 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: NBFC - Others, all 9 compared on one page.

Manba Finance is the 6th largest of 9 NBFC - Others companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Dhenu Buildcon Infra, A.K.Capital Services and India Finsec. Just below it: Laxmi India Finance, Mangal Credit & Fincorp and Unifinz Capital India.

NBFC - Others companies close in size

3. Dhenu Buildcon Infra Ltd ₹2,213 crore
4. A.K.Capital Services Ltd ₹1,139 crore
5. India Finsec Ltd ₹741 crore
6. Manba Finance Ltd ₹720 crore
7. Laxmi India Finance Ltd ₹476 crore
8. Mangal Credit & Fincorp Ltd ₹469 crore
9. Unifinz Capital India Ltd ₹445 crore

All 9 NBFC - Others companies, largest first

Companies close in size in other industries

1805. Precot Ltd ₹723 crore · Textiles - Technical Textile
1806. Kanoria Chemicals & Industries Ltd ₹722 crore · Chemicals - Organic - Alcohol Based
1807. Manba Finance Ltd ₹720 crore
1808. Sterling Tools Ltd ₹719 crore · Castings, Forgings & Fastners
1809. Gem Aromatics Ltd ₹716 crore · Chemicals - Organic

Sector Alpha, written by code from the published numbers. Data as of 5 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.