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Saturday, October 24, 2009

Manappuram General Finance & Leasing Ltd:Views/news/analysis/prospects/growth outlook and recomendation.

Scripscan:Manappuram General Finance & Leasing Ltd

Story:Before I proceed with my note here I would like to mention here that I have been a shareholder to these company from last 3 years and it simply has been one of the biggest wealth creator for me.A scrip which has given 3200% returns over the mentioned period and its still counting for me.It would be prudent to note that my cost of acquisition for the scrip is only 17.65 paisa(Bought in november,2006).Solid pedigree amazing business model and a visionary team fascinated me to opt for it.No FII,no research house even bothered to have a look at it.Anyways all said and done lets not delay much in penning its future business outlook.Founded in 1949,Manappuram General Finance & Leasing Ltd is India`s Largest Listed and Highest Credit Rated Gold Loan Company, registered under Reserve Bank of India.The company operates with more than 800 branches across India with presence in 14 States of India.The company has a loan book of Rs 2,000 crore presently.The company is targetting a profit of 100crs in these fiscal.Next year,It aims to have a size of Rs 5,000 crore loan book.The first half of the year it has already achieved a profit what the company had achieved during last year i.e. the entire profit of last year.The company has been consistently making profit and paying dividends from the first full year of its operations.The company`s vision in the short term is to emerge as a strong national player, with a wide Branch network across the entire country to serve its customers as a one-stop financial super market that makes its customers` life easy.Its such a wonderful company to own-Growth,sunrising business model,aggresive management,robust prospects all tempts one to have a chunk of it.At present price of 600 its quoting at a P.E of 10 its expected forward earnings of 60rs.Thats not terribly expensive buy it folks for a long term perspective.Who knows maybe the journey has just started for the counter.

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