FY2023 end IIFL Finance Ltd (IIFL) has overtaken Manappuram in Gold AUM base though on yield basis Manappuram still is much better compared to IIFL. So, now Manappuram is 3rd largest lender against gold in NBFC space; 1st being Muthoot Finance followed by IIFL.
From FY2019 to FY2023, IIFL gold loan AUM grew 3x while for Manappuram it grew by 1.5x.
Muthoot Gold loan though on a larger base (FY2019) has grown at a faster rate 1.8x than Manappuram (1.5x).
Conclusion- Though industry pie for gold loan is increasing, Manappuram is losing out to incremental growth to competitors it seems.
IIFL (Gold loan AUM)
Manappuram (Gold loan AUM)
Muthoot (Gold loan AUM)
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