Manappuram Finance Limited in My Kerala Success Brands

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Manappuram Finance Limited, has in recent years, emerged as a leading non-banking financial company (NBFC) in India under the stewardship of Shri V.P. Nandakumar, MD & CEO of the Company


Manappuram Finance Ltd. is one of India’s largest and most trusted gold loan companies, with 4,199 branches across the length and breadth of the country. It currently has nearly Rs. 157.65 billion worth assets under management (AUM), and 20,185 employees.

Promoted by Shri. V.P. Nandakumar, the current MD & CEO, the company was founded in the modest coastal village of Valapad (Thrissur District) by his late father Mr. V.C. Padmanabhan in 1949. The first non-banking financial company (NBFC) in Kerala to receive a Certificate of Registration issued by the RBI, it was also among the earliest to go for an IPO in 1995. In 2007 Sequoia Capital invested Rs.700 million along with Hudson Equity Holdings, heralding a period of accelerated growth, and in 2010 it became the first NBFC in Kerala to obtain the highest short term credit rating of A1+ from ICRA. In 2010, it became the first Kerala-based NBFC to offer ESOPs (Employee Stock Option Plan) to its middle and senior management functionaries.

As a pioneer and trailblazer, Manappuram Finance Ltd. has always been an innovator par excellence in the gold loan product and the adoption of technology. Besides focus on the business, the cause of the wider community is central to the vision of the company. The Manappuram Foundation was established in October 2009 to drive the company’s initiatives in Corporate Social Responsibility (CSR).

In recent years, the company has diversified into new business areas like micro-finance, vehicle and housing finance, and SME lending through the subsidiaries Manappuram Home Finance Ltd, Manappuram Insurance Brokers Ltd, and Asirvad Microfinance Limited. Our mission is to make life easy for common people of India with instant and easy loans, with a vision of unlocking the value of their savings in gold jewellery.

A Profile of the MD & CEO


 Mr. V.P. Nandakumar is the Managing Director & CEO of Manappuram Finance Ltd., a leading gold loan company that is ranked among India’s top 20 non-banking finance companies. Manappuram’s origins go back to 1949 when it was founded by the late V.C. Padmanabhan, father of Mr. Nandakumar. In those days its activity was money lending carried out on a modest scale at Valapad. Mr. Nandakumar took over the reins of this one branch business in 1986 after his father expired. Since then, it has been a story of unprecedented growth, and his leadership was instrumental in scripting the success story.

Mr. Nandakumar promoted Manappuram Finance Ltd. in 1992 and today the company has a pan-India presence with 4637 (Includes branches of subsidiary companies) branches across 28 Indian states and UTs. It has assets under management (AUM) of Rs.272.24  billion (as of March 31, 2021) and employs over 30,000 people. Recently, he steered the company’s diversification into microfinance, vehicle and housing finance, and SME lending where a successful start has been made.

Mr. Nandakumar’s achievements in business have earned recognition at the national level. In January 2014, Business Today, a leading business magazine, ranked him among India’s Top 100 CEOs. Earlier, in December 2013, Business World had listed his name amongst India’s Most Valuable CEOs. He is widely recognised as a leading wealth creator for investors in India’s stock market circles. On November 6, 2015, at a function to mark 20 years of listing of the equity shares of the company on the BSE (and where he rang the symbolic closing bell), it was noted that over two decades, the company had delivered annualized return of 24.6 percent to investors of its 1995 IPO. This was compared to the 11 percent returns delivered by the benchmark, Sensex. In other words, shareholder wealth since 1995 had gone up 92 times. Further, CAGR growth in AUM over this period amounted to a staggering 68 percent while profit after tax had grown at a CAGR of 49 percent.

Besides focus on business, the cause of the wider community is central to his vision. He established the Manappuram Foundation at Valapad in 2009 to drive the corporate social responsibility (CSR) mission of the Manappuram group. A major initiative of the Foundation is, “Janaraksha Manappuram” Free Insurance Scheme that extends health insurance to more than one lakh people belonging to the BPL category in the seven Panchayats around the Valapad area.

The Manappuram Foundation engages with the community in other ways as well such as extending financial assistance to reputed institutions, charities, and worthy causes. Under his leadership, the Foundation has embarked on an extensive partnership with Lions Clubs International (LCI) to jointly implement flagship programmes of the LCI in Lions District 318. These initiatives include programmes such as Lions Quest for developing life skills among adolescents and Students Safety Insurance Programme which extends free health and accident insurance cover to vulnerable students in government run schools in the District. Besides, the Foundation also collaborated with LCI for the installation of sanitary napkin vending machines and incinerators and local school and public toilets to make them girl friendly. These initiatives in CSR were recognised by a special commendation from the Jury at the Golden Peacock Awards in Mumbai in January 2015.

Mr. Nandakumar is a Managing Committee member of leading trade and industry associations such as ASSOCHAM and FICCI. He is the Chairman of the Kerala state council of the Confederation of Indian Industry (CII). He was a member of the FICCI delegation to the Fourth Session of India-Poland Joint Commission for Economic Cooperation held at Warsaw, Poland, in June 2015.

Mr. V.P. Nandakumar was born in 1954 and holds a post graduate degree in science with additional qualifications in Banking and Foreign Trade. He has attended Management Development Programmes for CEOs at IIMs Ahmedabad and IIM Bangalore. In December 2013, he took part in a Global Strategic Leadership Program at the Wharton Business School, Philadelphia (USA).

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Information given by Manappuram Finance Limited

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