Analysts/Institutional Investor Meet/Con. Call Updates

October 31, 2026 To, To, National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Fort Bandra (East), Mumbai - 400 051 Mumbai- 400 001 Scrip Symbol: MANBA Scrip Code: 544262 Sub: Transcript of conference call held in respect of the Financial Results for the quarter and half year ended 30th September, 2026 Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘SEBI Listing Regulations’) Dear Sir / Madam, In furtherance of our letter dated October 08, 2026 for Analyst / Investor Earning Conference Call and in pursuant to Regulation 30 and 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, enclosed herewith the transcript of the Earning Conference Call with the Investors and Analysts held on Wednesday, 28th October, 2026 at 04.00 P.M. (IST) to discuss the operations and financial performance for the quarter and half year ended on 30th September, 2026. The transcript of the earning conference call will be available on the website of the Company at: www.manbafinance.com You are requested to take the above on record. Thanking You. For Manba Finance Limited Bhavisha Jain Company Secretary and Compliance Officer Encl: As above “Manba Finance Limited Q2 & H1 FY27 Earnings Conference Call” October 28, 2026 MANAGEMENT: MR. MANISH SHAH – MANAGING DIRECTOR – MANBA FINANCE LIMITED MR. JAY MOTA – EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER – MANBA FINANCE LIMITED MODERATOR: MR. MAYANK MISTRY – ANTIQUE STOCK BROKING LIMITED Page 1 of 12 Manba Finance Limited October 28, 2026 Moderator: Ladies and gentlemen, good day and welcome to Manba Finance Q2 and H1 FY27 Earnings Conference Call hosted by Antique Stock Broking Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Mayank Mistry from Antique Stock Broking Limited. Thank you, and over to you, sir. Mayank Mistry: Thank you, Shaurya. Good evening, everyone. Welcome to Q2 FY27 Earnings Conference Call of Manba Finance Limited. On behalf of Antique Stock Broking, I would like to thank the management for giving us the opportunity to host this call. We have with us from the management team, Mr. Manish Shah, Managing Director and Mr. Jay Mota, the Executive Director and CFO. I'll hand over the call to the management for opening remarks, post which we will open the floor for Q&A. Over to you, sir. Manish Shah: Yes. I'm Manish Shah, Managing Director of Manba Finance Limited. Good afternoon, everyone and thank you for joining our earnings call today to discuss the performance for the second quarter and first half of the financial year 2027. I would also like to thank Antique Stock Broking for hosting this earnings call. Let me first start by giving a brief overview of the company and operational highlights, followed by which our CFO will brief you on the financial performance for the period under review. Manba Finance Limited is an NBFC offering range of financial solutions, including loans to new 2-wheeler, 3-wheeler, used car, MSME LAP, top-up loan, personal loan, used 2-wheeler loans and battery replacement loans. We are currently operating in 148 locations across 7 states, precisely Maharashtra, Gujarat, Rajasthan, MP, Chhattisgarh, UP and Karnataka. Our distribution network includes over 1,900- plus dealers. We have a total team size of approximately 2,061 employees, out of which more than 1,100-plus employees are a part of sales team. Our internal collection team ensures low NPAs in the industry. The company commands one of the fastest turnaround time for loan sanctioned in the industry with over 60% of our loans sanctioned in one minute and 92% loans sanctioned within a day. I'm happy to share that recently, company's credit rating has been upgraded to A minus stable from BBB plus positive by CARE ratings. Reflecting the sustainable scale in the company's operations with assets under management registering a compounded annual growth rate CAGR of 36.33%, alongside access to incremental funding at a lower cost and expectation of INR99.99 crores -- around INR100 crores infusion through preferential issue equity and warrants. Ratings continue to be supported by MFL's experienced management team with established experience in 2-wheeler financing, adequate capitalization levels and adequate profitability Page 2 of 12 Manba Finance Limited October 28, 2026 parameters. This enhanced credit standing has also supported improving funding efficiency with the average cost of borrowing declined to 10.14%. Moving on the industry landscape, vehicle registration trends point to healthy demand across the auto sector, creating a supportive environment for auto finance. During the second quarter, 2- wheeler registration reached approximately 53 lakh units with August and September both recording their highest ever volumes. 3-wheeler registration crossed 3.9 lakh units, supported by strong demand for electric motors. Importantly, demand continues to be driven by rural as well as Tier 2 and Tier 3 markets, which are key focus area for Manba Finance. The momentum was further reflected in September when FADA reported record vehicle retail registration of 25.37 lakh units, up by 32% year-on-year. 2-wheeler registration grew 33% to 17.9 lakh units, while 3-wheeler registration increased to 22% to 1.32 lakh units. Looking ahead, the demand outlook remains encouraging with 78% of dealers in the industry expecting growth during the October to December. The conversion of deferred demand around the Dhanteras and Diwali festive period is expected to provide further support. We believe this favorable industry trends will create a supportive environment for auto financing and help sustain healthy disbursement momentum in the coming quarters. Further, the company declared second interim dividend of INR0.25 per equity share on a face value of INR10 each for the financial year '26-'27, reflecting our continued commitment towards shareholder value creation. I would like to highlight the change in the Chairperson of the company from Mr. Nalliepily Ramaswami Parameshwaran to Mrs. Neelam Tater, Independent Directors. Looking forward, we remain confident in our ability to deliver sustainable and profitable growth and long-term value to our stakeholders. Now I request our Executive Director and CFO, Mr. Jay Mota to brief you in the financial performance for the period under review. Over to you, Jay. Jay Mota: Thank you, Manish, sir. Let me provide a brief overview of the financial performance for the period under review. For the quarter under review, net interest income stood at INR52 crores, registering a significant growth of 40% year-on-year. And profit after tax for the quarter increased by 20% year-on-year to INR14 crores, reflecting a healthy profitability and continued operational momentum. For the first half of the financial year 2027, net interest income stood at INR94 crores, registering a significant growth of 39% year-on-year and profit after tax for the period increased by 28% year-on-year to INR27 crores. As of September 30, 2026, our assets under management stood at INR1,811 crores, reflecting a robust year-on-year growth of 21%. During the quarter, the disbursement stood at INR267 crores compared to INR233 crores in corresponding quarter of the previous year. For the first half of the financial year, disbursement has reached to INR493 crores, registering a growth over INR398 crores achieved in the corresponding period last year. Page 3 of 12 [Showing first 8,000 characters — download PDF for full document]