Manba Finance Limited , a non-banking financial company (NBFC) specializing in two-wheeler financing, has reported a robust performance for the first half of fiscal year 2026. The company's profit after tax (PAT) grew by 26% year-on-year to INR 21.00 crores, while its net interest income rose by 21% to INR 68.00 crores.

Strong Growth in AUM and Disbursements

The company's Assets Under Management (AUM) witnessed a significant increase of 36% year-on-year, reaching INR 1,500.00 crores as of September 30, 2025. Manba Finance achieved record monthly disbursements of INR 175.40 crores in October, following GST rate cuts on two-wheelers. This surge in disbursements has positioned the company to potentially exceed its previous growth estimates.

Financial Highlights

Outlook and Expansion Plans

Manba Finance maintains its guidance of 30-35% CAGR growth and is targeting an AUM of INR 1,700.00-1,750.00 crores by the end of the fiscal year. The company is focusing on deepening its presence in existing markets, particularly in Uttar Pradesh, where it plans to add 10-15 new locations in the coming quarters.

Product Mix and Market Trends

Two-wheeler financing remains the core product, constituting about 82% of the company's loan book. However, Manba Finance is seeing growing opportunities in the used two-wheeler segment, which currently accounts for only 1% of its portfolio but offers higher yields of around 26% compared to 21.5% for new two-wheelers.

Geographical Expansion and Partnerships

The company has entered into three new business correspondence partnerships with BT Finance Private Limited, EV FinServ Private Limited, and Inslab Private Limited. These collaborations aim to enhance Manba Finance's distribution capabilities and deepen customer access across various geographies without directly incurring additional operational expenses.

Technology Initiatives

Manba Finance continues to invest in digital initiatives to improve efficiency and customer experience. Recent launches include:

• Instant disbursement via JustPay
• Straight-through process for used two-wheeler loans
• Integration with DigiLocker for paperless loan documentation

Asset Quality and Capital Adequacy

The company maintains a strong asset quality with Stage 1 assets accounting for 92.80% of the total portfolio. The capital adequacy ratio stands at a robust 26.54%, well above regulatory requirements, providing ample cushion for future growth and expansion plans.

Manish Shah, Managing Director of Manba Finance Limited, commented on the results, stating, "Our strong performance in the first half of FY26 reflects our focus on sustainable and profitable expansion. The recent GST rate cuts on two-wheelers have significantly boosted demand, and we are well-positioned to capitalize on this growth opportunity."

As Manba Finance continues to expand its reach and diversify its product offerings, the company remains optimistic about maintaining its growth trajectory in the coming quarters, supported by favorable market conditions and strategic initiatives.

Manba Finance Limited , a non-banking financial company (NBFC) specializing in two-wheeler, three-wheeler, used car, small business, and personal loans, has announced strong financial results for the first half of fiscal year 2026 (H1-FY26).

Key Financial Highlights

• Assets Under Management (AUM): Grew by 36% to INR 15,008.00 million, up from INR 11,069.00 million in H1-FY25.
• Net Interest Income: Increased by 23% to INR 682.00 million, compared to INR 555.00 million in the previous year.
• Disbursements: Rose by 16% to INR 3,983.00 million.
• Profit After Tax: Reached INR 211.00 million, up from INR 168.00 million in H1-FY25.

Operational Performance

Manba Finance has shown significant improvements in its operational metrics:

• Dealer Network: Expanded by 24% to 1,393 dealers from 1,125 in H1-FY25.
• Geographical Presence: Now operates across 103 locations in 6 states.
• Workforce: Employs 1,726 people.

Asset Quality and Capital Adequacy

The company maintains a robust financial position:

Funding and Cost Optimization

Manba Finance has made significant strides in optimizing its funding costs:

• Raised INR 170.00 crores through Non-Convertible Debentures (NCDs).
• Achieved a 74 basis points reduction in borrowing costs, supported by RBI rate cuts and a credit rating outlook upgrade from Stable to Positive.

Business Expansion

The company has taken strategic steps to enhance its market reach:

• Signed three business correspondence partnerships to expand business reach.
• Implemented technological advancements, including:
  • Launch of a web-based app for business correspondents
  • Integration of Salesforce Marketing Cloud for improved customer engagement
  • Implementation of WhatsApp-based messaging for better communication
  • Enhanced digital processes with paperless onboarding, Juspay disbursements, straight-through processing for used two-wheelers, and DigiLocker integration

Management Commentary

Manish K. Shah, Managing Director of Manba Finance, stated, "Our strong performance in H1-FY26 reflects the robustness of our business model and the growing demand in our target segments. The significant growth in AUM and Net Interest Income, coupled with our expanding dealer network and technological initiatives, positions us well for sustained growth."

Future Outlook

Manba Finance aims to further penetrate existing markets and diversify into new ones. The company is particularly focusing on the growing electric two-wheeler and three-wheeler financing segments, capitalizing on the increasing demand driven by high fuel prices and environmental concerns.

As Manba Finance continues to strengthen its market position and optimize its operations, it remains well-positioned to capitalize on the growing demand for financial services in its target segments.

Note: All financial figures are in Indian Rupees (INR).