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The company clarified that Reddy is not related to any of the directors on the board and is not debarred from holding any directorial position by SEBI or any other regulatory authority.
Following this appointment, the designation of Nandakumar V.P. will change from Managing Director & CEO to Managing Director, effective 31 July 2025. He will continue in his role as the managing director, and the newly appointed CEO will report directly to him.
Founded in 1949, Manappuram Finance is a leading non-banking financial institution and the 2nd largest financier in the gold loan segment in India. It has grown to serve over 6.59 million customers through an extensive network of 5,357 branches and a workforce of 50,795 employees. It has expanded beyond gold loans into microfinance, vehicle finance, housing finance and SME lending, establishing itself as a diversified financial services provider.
On a consolidated basis, the company reported a net loss of Rs 191.17 crore in Q4 FY25 as against net profit of Rs 561.53 crore in Q4 FY24. Total income for the quarter remained largely unchanged at Rs 2,363.25 crore, marginally up from Rs 2,362.22 crore reported in Q4 FY24.