Manba Finance standalone revenue up 38%, PAT up 36% YoY in Q1 FY27

Manba Finance's standalone Q1 FY27 (quarter ended June 30, 2026) print shows revenue from operations of ₹92.61 Cr, up 38.2% YoY from ₹67.00 Cr, and PAT of ₹13.26 Cr, up 36.0% YoY from ₹9.75 Cr — profit growth roughly tracked revenue growth, so this reads as a genuine YoY growth quarter rather than a margin story. Sequentially, however, revenue was flat (-0.8% QoQ against ₹93.38 Cr in Q4 FY26) while PAT rose 19.2% QoQ; that QoQ profit jump was driven almost entirely by a lower effective tax rate (17.7% this quarter vs an unusually high 34.3% in Q4 FY26, likely a year-end tax true-up in the audited annual number) rather than operating improvement — PBT itself was down 4.9% QoQ (₹16.11 Cr vs ₹16.94 Cr). PAT margin (PAT/total income) was broadly flat YoY at 14.32% versus 14.13% a year ago, with impairment cost of ₹7.91 Cr sitting above the year-ago ₹4.34 Cr but below Q4 FY26's ₹8.63 Cr — credit costs remain elevated versus last year even as they ease sequentially.

The company gives no specific quantified guidance for this individual quarter; management's only outlook on record is the Q4 FY26 concall guidance of 25-30% AUM growth in FY27 (targeting ₹2,300-2,400 Cr AUM) alongside a plan to cut 2-wheeler loan concentration from 84% toward ~65% over three years by scaling 3-wheeler, used-vehicle and MSME LAP lending, a Karnataka expansion in Q2 FY27, and an H2 equity fundraise. This filing does not disclose AUM or segment-wise loan mix, so the diversification and AUM-growth targets cannot be verified from these numbers alone — too early in the year to call it a beat, meet or miss. Management has not issued a press release with commentary on this result yet, so there is no management framing to reconcile against the numbers. The quarter's other disclosed developments — a first interim dividend of ₹0.25/share (record date August 7, 2026), the July 22 launch of EV battery-replacement loans for e-3-wheelers, and the Karnataka expansion tie-up with Sreesastha — line up with the diversification and geographic-expansion strategy flagged on the last call, though their financial contribution isn't yet visible in the topline. No analyst consensus estimates for this quarter were found in available coverage, so the print cannot be benchmarked against street expectations.

The stock went into the print at ₹140.15, up 6.2% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records.

Basic/diluted EPS ₹2.64 vs ₹1.94 YoY (+36%) and ₹2.21 QoQ (+19%)