
Manba Finance delivered exceptional financial results for the quarter ended March 2026, with net profit rising 38.78% to ₹11.13 crore compared to ₹8.02 crore in the corresponding quarter of the previous year. According to reports from Business Standard, the company's sales surged 39.81% to ₹92.37 crore during Q4 FY26, up from ₹66.07 crore in Q4 FY25. The company achieved its highest-ever quarterly revenue in Q4 FY26, with sequential growth of 7.21% from Q3 FY26's ₹86.16 crore and year-on-year expansion of 39.81%. However, the stock has suffered severe correction, trading at ₹106.75 as of May 18, 2026, down 24.05% year-to-date and 21.59% over the past year, significantly underperforming the broader NBFC sector which posted a positive 6.99% return during the same period.
For the complete financial year 2026, Manba Finance maintained strong growth momentum with net profit increasing 20.00% to ₹45.36 crore compared to ₹37.80 crore in the previous year. As reported by Business Standard, the company's annual sales grew 31.82% to ₹313.46 crore in FY26, up from ₹237.79 crore in FY25. The operating profit margin for the full year stood at 68.95%, indicating sustained operational excellence throughout the fiscal year. The company's total income for FY26 reached ₹313.90 crore, representing a 25.56% increase over FY25's ₹250.00 crore.
The company's profit before depreciation and tax (PBDT) increased 46% to ₹18.12 crore in Q4 FY26, while profit before tax (PBT) rose 51% to ₹16.94 crore compared to the corresponding quarter of the previous year. However, net profit declined 14.92% quarter-on-quarter from ₹13.08 crore in Q3 FY26, with PAT margin compression to 12.05% in Q4 FY26 from 15.18% in the previous quarter. The operating margin (excluding other income) contracted to 65.71% from 70.15% quarter-on-quarter, though it remained higher than Q4 FY25's 62.72%. Interest expenses surged to ₹42.62 crore in Q4 FY26, up 1.19% from ₹42.12 crore in Q3 FY26 and a substantial 46.92% higher year-on-year from ₹29.01 crore. The tax rate volatility increased to 34.30% in Q4 FY26 from 23.69% in Q3 FY26, significantly eroding bottom-line performance.
The stock's dramatic underperformance reflects investor concerns about structural weaknesses including ROE of 10.84%, significantly below industry leaders. With average debt-to-equity ratio of 3.78 times and book value per share at ₹73.43, the stock trades at 1.36 times book value, which appears unjustified given the weak ROE and below-average quality grade. The Mojo Score stands at just 29 out of 100, with institutional holdings at a mere 0.87% and proprietary Mojo Score of 29 out of 100. The company's 52-week range of ₹99.05 to ₹159.20 illustrates the dramatic de-rating, with the current price sitting just 7.77% above the 52-week low and 32.95% below the 52-week high. Despite the dividend yield of 0.85% based on latest dividend of ₹0.20 per share, the yield remains uninspiring and provides minimal downside protection in the current market environment.