Jefferies sets INR 430 target for Manappuram stock

Published on 10/20/2026 at 01:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Manappuram stock enters October with INR 69.64 billion in Q1 FY27 AUM. Net profit reached INR 5.85 billion, up 340.60 percent year over year.

Operating scale and upcoming dates

Jefferies set an INR 430.00 target for Manappuram Finance on September 23, 2026.
Q1 FY27 consolidated AUM reached INR 69.64 billion, with gold loans at INR 57.01 billion.
Q1 FY27 net profit reached INR 5.85 billion after INR 1.33 billion a year earlier.
The next estimated earnings date is October 29, 2026.

Manappuram, INE522D01027, Illustration mit AI erstellt.

Manappuram Finance (INE522D01027) drew a Buy rating and an INR 430.00 price target from Jefferies on September 23, 2026, according to The Economic Times. The brokerage cited 36.00 percent potential upside in its stock selection, while the company continues to build its gold-loan business.

Jefferies sets a clear valuation marker

The target followed a strong first quarter. StockFin reported consolidated Q1 FY27 revenue of INR 30.34 billion, up 16.10 percent quarter over quarter. Net profit reached INR 5.85 billion, compared with INR 1.33 billion in Q1 FY26, an increase of 340.60 percent.

The operating mix is becoming more concentrated. Q1 FY27 consolidated AUM stood at INR 69.64 billion, up 57.00 percent year over year, while gold-loan AUM reached INR 57.01 billion, up 98.00 percent. Gold loans therefore accounted for 81.00 percent of total AUM, according to StockFin.

What does the growth mean for risk?

The figures improve the earnings case but also increase dependence on one lending category. StockFin said management was targeting 25.00 to 30.00 percent gold-loan growth in fiscal year 2027 and planned 500 new branches, including Asirvad locations. The same source identified regulatory changes and higher funding costs as key risks.

Three dated steps shaped the case

On August 11, 2026, Manappuram reported Q1 FY27 net profit of INR 5.85 billion in its results coverage from The Economic Times. On August 17, 2026, its Q1 FY27 AUM was reported at INR 69.64 billion in the same results context. On September 23, 2026, Jefferies assigned the INR 430.00 target, as reported by The Economic Times.

Next date is October 29

Yahoo Finance listed October 29, 2026, as the estimated next earnings date for Manappuram Finance, while Yahoo Finance showed the NSE listing under ticker MANAPPURAM.NS.

NSE quote and market scale

The NSE quote stood at INR 319.55 on October 19, 2026, at 3:29 p.m. IST, with a 52-week range of INR 245.15 to INR 381.55. The market capitalization was INR 300.2 billion at the same reference point. Sharpely identifies Manappuram as a non-banking financial company listed on the NSE under MANAPPURAM and places it in the Nifty 500.

The further course of trading is shown by the latest NSE quote and the next earnings date. The balance between gold-loan expansion and funding costs is the central valuation question.