Muthoot Finance Ltd - Stock Valuation and Financial Performance

BSE: 533398 | NSE: MUTHOOTFIN | Finance - NBFC | Mid Cap

Muthoot Finance Share Price

2,174.10 -14.05 -0.64%
as on 03-Feb'25 16:59

DeciZen - make an informed investing decision on Muthoot Finance

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Muthoot Finance stock performance -

P/E Ratio (SA):
19.90
Market Cap:
87,846.3 Cr.
52-wk low:
1,262.3
52-wk high:
2,274.2

Is Muthoot Finance Ltd an attractive stock to invest in?

1. Is Muthoot Finance Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Muthoot Finance Ltd is a good quality company.

2. Is Muthoot Finance Ltd undervalued or overvalued?

The key valuation ratios of Muthoot Finance Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Muthoot Finance Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Muthoot Finance Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Muthoot Finance:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Muthoot Finance Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Operating Income (₹ Cr.)4,3144,8615,7296,2676,8788,71510,55711,08210,51512,63514,290
YoY Gr. Rt. %-12.7%17.8%9.4%9.8%26.7%21.1%5%-5.1%20.2%-
Adj EPS (₹ ) 16.920.329.544.449.275.392.898.586.5100.9109.9
YoY Gr. Rt. %-20.4%45.5%50.5%10.8%52.9%23.3%6.2%-12.2%16.6%-
BVPS (₹ )127.2140.3162.6194.8244288.2379.6456.9524.6605639.8
YoY Gr. Rt. %-10.3%15.9%19.8%25.2%18.1%31.7%20.4%14.8%15.3%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)2.5345.75.76.86.55.94.95.10

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Net Interest Income12.7%12.9%6.2%20.2%
Adj EPS22%15.4%2.8%16.6%
BVPS18.9%19.9%16.8%15.3%
Share Price 26.5% 23.8% 15.2% 57.8%

Key Financial Ratios

RATIOS \ YEARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Asset Quality Ratio To view Asset Quality Ratio Colour Rating Guide click here
Net NPA to Net Advances (%)1.92.51.76.20.71.70000-
Capitalization Ratio To view Capitalization Ratio Colour Rating Guide click here
Capital Adequacy Ratio (%) 24.824.524.926.626.125.50000-
Margins
Net Profit Margin (%)15.516.720.628.428.734.635.335.73332.130.9
Performance Ratios To view Performance Ratios Colour Rating Guide click here
Return on Equity (%)14.415.219.524.922.528.327.823.617.617.917.2

Recent Performance Summary

Total Income has increased 6.17 CAGR in last 3 years

Net Profit has increased 2.83 CAGR in last 3 years

Total income growth is good in last 4 quarters

Return on Equity has declined versus last 3 years average to 17.70%

Latest Financials - Muthoot Finance Ltd.

Standalone Consolidated
TTM EPS (₹) 109.9 116.5
TTM Sales (₹ Cr.) 14,290 17,044
BVPS (₹.) 639.8 663
Reserves (₹ Cr.) 25,282 26,214
P/BV 3.42 3.30
PE 19.90 18.78
From the Market
52 Week Low / High (₹) 1262.25 / 2274.15
All Time Low / High (₹) 73.60 / 2270.70
Market Cap (₹ Cr.) 87,846
Equity (₹ Cr.) 401.5
Face Value (₹) 10
Industry PE 27.4

Quarterly Results

 Dec'23 YoY Gr. Rt. %Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %
Operating Income3,141 193,382 19.43,677 23.54,089 34.7
Adj EPS (₹)25.59 13.926.31 1726.87 10.631.16 26.3
Net Profit Mgn %32.43 -147 bps30.99 -64 bps29.12 -340 bps30.39 -200 bps

Management X-Ray of Muthoot Finance:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:73.35%Institutions:23.24%Non-Institutions:3.41%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%20%40%60%80%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Muthoot Finance

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DPS
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MRP: ₹ 0
DP: ₹0
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MOS (%):
Save my Valuation
Expected BVPS Growth Rate:
0%
Base 0%
30%
Expected Rate of Return:
0%
Base 0%
30%
Future PBV:
0
Base 0
40
YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Muthoot Finance Ltd – Q2FY23 Result - 15 Nov 2022

Market Cap 45,037 Cr
CMP 1122
P/B 2.1xFY23

Results

(INR Cr)

YoY Growth

Comments

Advances

52,730.3

3.78%

Muted growth in gold loans

Net Interest Income

1595

-13.8%

NIM declined by 242 bps, to 11.04%

 

 

Key Highlights –

  • Muthoot discontinued teaser loans; these are low yielding asset for financial institutions. Loan to value (LTV) increased by 1% to 69%.
  • Company received RBI approval to open 150 new branches, added 24 branches this quarter.
  • PAT declined by 12.8% to 867.2 Cr, due to lower margins and higher operating expenses. Cost to Income ratio rose to 28.2% from 23.7%, because of branch expansion.

 

Management Outlook-

  • Management expects cost of funds to remain around 8% for Q3, while loan book growing by 10% for FY23.
  • Management guided on incurring operating expenses on advertising & promotion for next 2 quarters, along with increased competition from banks who have network benefits.
  • Management expects to open remaining 126 branches by year end.

 

Muthoot Finance: A Gold proxy - 06 Dec 2019

About the Industry: -

Non-banking finance companies (NBFCs) form a vital part of the Indian financial system. They help in taking credit to the unbanked segments of the society, driving financial inclusion and nation-building, complementing the banking sector. NBFCs enjoy the advantages of better product lines, lower cost, wider and effective reach, robust risk management capabilities to check and control bad debts and a better understanding of their customer segments vis-a -vis the traditional banks.

Till the middle of the last decade, the unorganised sector catered to India’s gold loan market with limited penetration of organised lenders. However, the gold loan industry is increasingly formalising now with established and organised players gaining market share. Traditionally known as a hyper retail local business, India’s gold loan market has started attracting large investors since last decade. India has seen the emergence of gold loan speciality players like Muthoot Finance and Manappuram Finance during this time.

With rural credit demand expected to rise, the gold loan market is likely to grown in lines with the same. With the organised gold loan penetration levels below 4%, there is headroom for growth in this market. Financial institutions with the right focus, operational capabilities, and availability of funds, refreshing products and modern technology are concentrating to capture a large market share and profitable returns.

About the Company: -

Muthoot Finance is the largest gold finance company in India in terms of loan portfolio. It provides business and personal loans secured by gold jewellery in rural/semi-urban areas to meet unanticipated requirement. Such loans are sought by individuals who possess gold jewellery but cannot access credit quickly, or no credit available due to lack of documentation.

Found in 1939 by Mr. George Muthoot, it received the NBFC licence in 2001 and got converted into a public limited company in 2008. As of September 2019, it had 4540 branches across India with 60% in south India. Today Muthoot Finance as a company pays royalty for using promoter’s name.

There has been increase in number of loans disbursements. The company processed 1,800 loans per branch as of FY19 vs ~1,500 in FY16.Following 11% decline in growth during the regulatory phase of FY12-FY14, the company’s strategic initiatives supported recovery to a 6% CAGR in loan accounts processed per branch and 8% CAGR in gold AUM per branch over FY15-FY19. This implies value growth over volume growth during this period.

The company has gross loan AUM of around 35,730 crores in Q2FY20 and growing at 9% CAGR from last 3 years. Increasing Gold prices over past year has led to increase in the AUM of Muthoot Finance. This is because, as the value of Gold (which is an underlying for the loan) increases, the borrower demands increase in his loan amount as well as new loans ticket size increases leading to more disbursement.

Muthoot Finance presence in hinterland lets him enjoy very high net interest margin ~15 and its ROE is as high as 22.4% in FY19 despite very low leverage ratio of 4%.

In terms of the loan portfolio of Muthoot Finance, 74% of the loans disbursed are below 6 month maturity. Lower the tenure of maturity, lower is the riskiness. Also 86% of the portfolio is below Rs. 2 lakhs. More granular (small size) loans ensure more safety in terms of defaults versus few big size loans.

What are the risks to business model?

Interest margins may face downward pressure as more financial companies enter smaller markets going forward.  

The benefit of rising gold prices reverse when the gold prices fall. The fall in the value of gold increases the threat to the company of loan default. In such cases, the company maintains low loan-to-value. (Loan to value = Loan lent to value of underlying asset)

Another strategy used by the company to mitigate risk is maintaining High Churn Portfolio, which means disbursing loans of short term maturity (less than year). This protects the company against fluctuations against the gold prices over the period.

Gold finance has high cost of operations as it has branch spread equal to large banks like HDFC Bank/Axis Bank despite having AUM size of less than 1/10th size. The need to maintain safety vaults, quick disbursement and granular loans are reasons for large branch spread. Cost to income ratio has increased to 37% in Q2 FY20 from 21% in Q2FY19 versus cost to income ratio of some other NBFCs ranging from 10%-20%.

Muthoot Finance business model is very simple as it lends against gold and grow with more people pledging gold. There may not be a single household that doesn’t possess gold and when a poor family faces adversity, they fall back on this asset by pledging it for loan requirement. However, there are some negatives like high operating costs, risk of default in case of falling gold prices, risk from pricing pressure with more financial inclusion.

We believe that the company will continue to deliver good volume growth but growth in loan/NIM will depend on gold prices as well. Currently due to rising gold prices, the growth is very good. We expect it to come down over time. Current prices do not provide margin of safety we will await for better levels to buy the stock.

Muthoot Finance: Stock rises after our Sell Call - 07 Jun 2016

Muthoot Finance : Stock rises after our Sell Call

On 28th May we had shared on Muthoot Finance advising SELL on the stock at 208-210/share.
We cited the following reason for Selling the stock:

“We continue to believe that the competition from new banking licenses and increase branch reach of traditional banks will hurt high net interest margins of Muthoot Finance. In our channel checks, we found that pricing pressure are rising across regions and this can hurt high ROE of Muthoot Finance as it operates on high cost model. We do not expect the return on equity to increase beyond 14-16% in longer term as well. In that case, value creation for shareholders would be quite low.

Hence, in our opinion, we should exit the stock at this price (~Rs. 208-210/share). The stock may go up in future but we don’t see a big opportunity in this business. Including dividends, we have earned 6.6% return on Muthoot Finance.

Note: We expect the markets to be volatile in this financial year. We would get many good businesses at bargain prices.”

However, post our sell call the stock has appreciated by 40%. In hindsight it looks like a mistake. Let us explain our logic.

We invest in companies for a fundamental reason. If we believe fundamentally the company can earn higher returns on capital, we commit our capital to the company. This has generated returns for long periods of time irrespective of market sentiment and will work in future too.

Coming to Muthoot Finance, we have seen a broad thematic rally in all rural and financial plays for last 1-3 months. There is no logic behind 20%+ rally in each of these stocks but sheer momentum due to buoyancy about good monsoon this year. We do not see business earnings growing by 20%+ in matter of months. Ultimately, the stock price is slave of earnings and moves in line with earnings growth.

While we do accept that we left few money on the table but believe us that this rally is purely speculative and luck.

We would have not known this in advance that this rally is likely. Imagine what if the stock price would have gone downwards by more than 20-30%. We believe that the pain of loss is worse than pain of lost gain. We first wish to protect the risk and then look out for returns.

We are constantly monitoring more stocks in small cap space and expect to add another 2-3 stocks which have strong underlying fundamentals.

A portfolio must be held for the long term, which we define as at least 5-7 years. However, this does not mean every stock will perform in each year. Our performance should be judged on the basis of the overall portfolio over 2-3 years at least, not on the basis of short-term performance of individual stocks.

Muthoot Finance: SELL - 28 Apr 2016

We had generated BUY on Muthoot Finance in March 2015 at price of Rs. 200/share.

Refer to our Note on September 2015. We had highlighted that we see this opportunity has low risk and minimum downside. We insisted to hold even after correction.

We consider this as very low risk opportunity, with no downside in valuation. We advise you to hold the stock despite recent correction. Quarterly results in Oct’15 and Jan’16 are likely to drive the stock price to its valuation. Please ensure that the stock doesn’t form more than 3% of your portfolio.

In the same note, we had highlighted that there are some concerns pertaining to business model of Muthoot Finance.

We believe these new banking licenses to microfinance institutions will have an edge over pure NBFCs like Muthoot Finance due to access to low cost CASA deposits and scalable equity base. However, we strongly believe that bank conversion process is tedious and takes longer due to various regulatory requirements like higher capital adequacy ratio, higher provisioning, etc. Also, it will take longer for these small microfinance banks to increase their foothold (branches) to acquire low cost CASA deposits

We continue to believe that the competition from new banking licenses and increase branch reach of traditional banks will hurt high net interest margins of Muthoot Finance. In our channel checks, we found that pricing pressure are rising across regions and this can hurt high ROE of Muthoot Finance as it operates on high cost model. We do not expect the return on equity to increase beyond 14-16% in longer term as well. In that case, value creation for shareholders would be quite low.

Hence, in our opinion, we should exit the stock at this price (~Rs. 208-210/share). The stock may go up in future but we don’t see a big opportunity in this business. Including dividends, we have earned 6.6% return on Muthoot Finance.

Note: We expect the markets to be volatile in this financial year. We would get many good businesses at bargain prices.

Markets do experience cyclicality always. It’s always better to have some cash when markets are overvalued. This reduces our downside when markets correct, additionally this cash can be used to average or invest in our best stock ideas. This helps us generate good returns in long term.

Muthoot Finance: Still holds the Golden opportunity! - 21 Sep 2015

Since our recommendation, the stock has corrected around 23%-25%. There is no reason as such why the stock has been correcting. We have followed a very low risk strategy by allocating just 3% of our portfolio.

We believe market is anticipating lower rural income due to deficit rainfall this season, as negative for the company’s loan book growth. However, we do not foresee stress on balance sheet as the company highly liquid asset as collateral and conservative loan to value ratio of ~69%. This safeguards the company from any distress.

Additionally, we had highlighted in our previous note (Mar’15 & Jul’15), in pursuit of financial inclusion RBI may issue bank licenses to institutions in rural areas. This was sighted as a concern for the company to grow its loan book and high return on equity.

We believe these new banking licenses to microfinance institutions will have an edge over pure NBFCs like Muthoot Finance due to access to low cost CASA deposits and scalable equity base. However, we strongly believe that bank conversion process is tedious and takes longer due to various regulatory requirements like higher capital adequacy ratio, higher provisioning, etc. Also, it will take longer for these small microfinance banks to increase their foothold (branches) to acquire low cost CASA deposits.

Meanwhile, Muthoot Finance will have an advantage to expand its book with the help of its 4200 branches and existing presence in rural areas. To understand the magnitude of this number, HDFC Bank (leading bank in retail lending) has close to 4000 branches & third largest bank by asset size, Bank of Baroda has close to 4200 branches. This gives us comfort that Muthoot Finance will be able to maintain its loan book size and increase it marginally every year.

We are expecting close to 12% growth rate in loan book, a very conservative number. We expect return on equity of more than 15-16% which gives us comfort that book value of the company would increase at the rate of 13-14% at 20% dividend payout. Even at these conservative estimates and multiple of 1.5x we get valuation of Rs. 243/share one year hence. We consider this as very low risk opportunity, with no downside in valuation. We advise you to hold the stock despite recent correction. Quarterly results in Oct’15 and Jan’16 are likely to drive the stock price to its valuation. Please ensure that the stock doesn’t form more than 3% of your portfolio.

Key Ratios of Muthoot Finance

Adj EPS (Rs.)

Total Income (Cr.)

ROE (%)

BVPS (Rs.)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Aditya Birla Capital 172.1 -4.6 (-2.6%) Mid Cap 34,506 14.4 10 12.3 1.6
SBI Cards AndPayment 825.1 0.5 (0.1%) Mid Cap 16,968 21.5 14.2 38.4 5.8
Mah & Mah Finl. Serv 291.9 8.4 (3%) Mid Cap 15,797 20 12.3 14.2 1.7
L&T Finance 149.6 3.5 (2.4%) Mid Cap 13,581 10.3 17.1 14.2 1.5
Muthoot Finance 2,174.1 -14.1 (-0.6%) Mid Cap 12,635 109.9 32.1 19.9 3.4
Sundaram Finance 4,307.3 -188.5 (-4.2%) Mid Cap 7,267 141 19.6 31.9 4
Indian Ren. Energy 186.7 -7.3 (-3.7%) Mid Cap 4,964 5.7 25.2 34 5.3
Poonawalla Fincorp 307.9 -1.1 (-0.3%) Mid Cap 3,114 2.2 66 140.5 3
Tata Invest Corp 5,906.8 -113.5 (-1.9%) Mid Cap 288 53.8 83.7 111.9 0.8

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Income4,3254,8755,7476,3336,8818,72310,57411,09810,54412,694
Interest Income4,3144,8615,7296,2676,8788,71510,55711,08210,51512,635
Other Income 111418672817162959
Expenditure 3,2973,5583,8263,4883,8044,6655,5685,7895,8777,245
Interest Expense 2,1082,2602,2981,9352,2432,7963,6993,8453,7094,667
Operating Expenses 1,1431,1221,2311,2871,4961,6921,6851,7342,0102,280
Provisions 4617729726765177184211158299
Exceptional Items 0000000000
Profit Before Tax 1,0281,3171,9212,8453,0774,0575,0075,3094,6665,449
Taxes 3575077411,0671,1051,0391,2841,3551,1931,399
Profit After Tax 6718101,1801,7781,9723,0183,7223,9543,4744,050
Adjusted EPS (₹)16.920.329.544.449.275.392.898.586.5100.9
Dividend Payout Ratio (%)36%30%20%23%24%20%22%20%25%24%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Equity Capital5,0845,6196,5167,8129,79311,57215,23918,34521,06224,290
Share Capital 398399399400401401401401401401
Reserves 4,6865,2206,1177,4129,39211,17114,83817,94320,66023,889
Minority Interest0000000000
Long Term Borrowings7,8866,3514,8487,6569,70013,21421,43627,73330,39838,770
Current Liabilities 14,11815,38619,99115,31718,55925,67426,76124,42821,12021,935
Trade Payables5161111124163218202151180204
Short term borrowings7,7618,36412,75513,80017,14723,95824,52222,06619,34620,028
Other Liabilities-7,812-8,425-12,866-13,924-17,311-24,176-24,723-22,217-19,525-20,232
Total Liabilities 27,08827,35631,35530,78638,05150,46063,43670,50672,58084,996

Assets

Non Current Asset 4014265417041,3041,3991,5041,7641,7922,870
Loan Asset 00120000000
Other Non Current Asset 4014265297041,3041,3991,5041,7641,7922,870
Current Asset 26,68726,93030,81430,08236,74749,06161,93268,74270,78882,126
Current Investment00010407523453
Other Current Asset26,68726,93030,81430,08136,74748,65461,40968,73870,78382,123
Total Assets 27,08827,35631,35530,78638,05150,46063,43670,50672,58084,996

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity -460214-1,710-87-3,858-4,458-7,477-1,142-1,902-9,302
Cash Flow From Investing Activity -16-67-134-194-585-42948408188-739
Cash Flow From Financing Activity 254-1,2042,457-5545,7018,6789,0412,796-1,0368,649
Net Cash Flow -222-1,058613-8341,2583,7911,6122,062-2,750-1,392
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Operational & Financial Ratios

EPS (₹)172030444975939987101
DPS (₹)66610121520202224
BVPS (₹)127140163195244288380457525605

Performance Ratios

ROA (%)2.53.04.05.75.76.86.55.94.95.1
ROE (%)14.415.219.524.922.528.327.823.617.617.9
ROCE (%)13.014.716.316.916.216.115.814.212.113.2

Valuation Parameters

Price/Book(x)1.61.32.32.12.52.13.22.91.92.4

Muthoot Finance Ltd Stock News

Muthoot Finance Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Muthoot Finance on 03-Feb-2025 16:59 is ₹2,174.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Feb-2025 16:59 the market cap of Muthoot Finance stood at ₹87,846.3.
The latest P/E ratio of Muthoot Finance as of 03-Feb-2025 16:59 is 19.90.
The latest P/B ratio of Muthoot Finance as of 03-Feb-2025 16:59 is 3.42.
The 52-week high of Muthoot Finance is ₹2,274.2 and the 52-week low is ₹1,262.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Muthoot Finance is ₹14,290 ( Cr.) .

About Muthoot Finance Ltd

Muthoot Finance Limited was incorporated as a private limited Company on March 14, 1997 and was converted into a public limited Company on November 18, 2008. The Company is promoted by Mr. M. G. George Muthoot, Mr. George Thomas Muthoot, Mr. George Jacob Muthoot and Mr. George Alexander Muthoot collectively operating under the brand name of ‘The Muthoot Group’, which has diversified interests in the fields of Financial Services, Healthcare, Education, Plantations, Real Estate, Foreign Exchange, Information Technology, Insurance Distribution, Hospitality etc. The Company obtained permission from the Reserve Bank of India for carrying on the business of Non-Banking Financial Institutions on 13-11-2001. The Company is presently classified as Systemically Important Non-Deposit Taking NBFC (NBFC-ND-SI).

Business area of the company

Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.

Services offered by the company

  • Gold Loan
  • Housing Finance
  • Personal Loan
  • Insurance 
  • Gold Coin
  • Money Transfer
  • Foreign Exchange
  • NcCDMutual Funds
  • Travel Jango
  • Muthoot Will
  • Pan Card
  • Micro Finance
  • Digital And Cashless
  • Vehicle Loan

Awards

  • Business Leader Award 2014, instituted by Cochin Herald
  • Mahatma Gandhi National Award for social service in 2001 by the Mahatma Gandhi National Foundation
  • Asian Businessman of the Year 2011 award from the UK Kerala Business Forum
  • Business Leadership Award for the year 2012 at the Golden Peacock Awards, Bengaluru
  • Several awards from Rotary International and Y’s Men International for community development and social service
  • Ranked as one of the Top 40 BFSI CEOs in India by the country’s leading business magazine, Business Today, in its January 2017 issue; the research was jointly conducted by Business Today and reputed multinational audit, assurance and professional services firm, PricewaterhouseCoopers (PwC)
  • Emerging Business Leader of the Year at the fifth edition of AIMA Managing India Awards 2014
  • Muthoot Finance was also awarded the coveted Primetime Awards 2019 in the Banking, Financial Services & Insurance category for its creative & integrated marketing campaign “Soch Badaliye Aur Life Mein Aagey Badhiye.
  • Best Creative Campaign in the BFSI sector at the Exchange4media Prime Time Awards, 2019
  • Economic Times BFSI Excellence Award 2019 for Mass Consumer Outreach
  • Gold at the Flame Awards Asia, 2019 for the ‘Muthoot Vishwaas Ki Tijori’ campaign
  • Gold in the ‘Innovative Creation of a New Medium Category’ at the 10th NEONS Out-of-Home Awards,2020
  • Kumbh Initiative Muthoot Finance Vishwaas Ki Tijori also bagged Gold in the 'Innovative Creation of a New Medium Category' at the 10th edition of ‘NEONS Out Of Home Awards 2020’.

Milestones

  • 1887- The Group came into being as a trading business in a Kerala village.
  • 1939- Commenced Gold Loan business
  • 2001- Muthoot Finance received RBI License to function as an NBFC.
  • 2004- Received highest rating of F1 from Fitch Ratings for a short-term debt of Rs 200 million.
  • 2005- Retail Loan and debenture portfolio crossed Rs 5 billion
  • 2007- Retail Loan portfolio crossed Rs 14 billion.
  • 2007- Net owned funds crossed Rs 1 billion.
  • 2007- Accorded SI-ND-NBFC status.
  • 2007- Branch network crossed 500 branches.
  • 2008- Retail Loan portfolio crossed Rs 21 billion.
  • 2008- Retail debenture portfolio crossed Rs 1 billion.
  • 2008- Fitch affirmed the F1 short term debt rating with an enhanced amount of Rs 800 million.
  • 2008- Converted into a Public Limited Company.
  • 2009- Retail Loan portfolio crossed Rs 33 billion.
  • 2009- Retail debenture portfolio crossed Rs 19 billion.
  • 2009- Net owned funds crossed Rs 3 billion.
  • 2009- Gross annual income crossed Rs 6 billion.
  • 2009- Bank credit limits crossed Rs 10 billion.
  • 2009- Branch network crossed 900 branches.
  • 2010- Retail Loan portfolio crossed Rs 74 billion.
  • 2010- Retail debenture portfolio crossed Rs 27 billion.
  • 2010- CRISIL assigned ‘P1+’ rating for short term debt of Rs 4 billion, ICRA assigned A1+ for short term debt of Rs 2 billion.
  • 2010- Net owned funds crossed Rs 5 billion.
  • 2010- Gross annual income crossed Rs 10 billion.
  • 2010- Bank credit limits crossed Rs 17 billion.
  • 2010- Branch network crossed 1,600 branches.
  • 2011- Retail Loan portfolio crossed Rs 158 billion.
  • 2011- Retail debenture portfolio crossed Rs 39 billion.
  • 2011- CRISIL assigned long-term rating of AA- Stable for Rs 1 billion subordinated debt issue and for Rs 4 billion non-convertible debentures issue respectively.
  • 2011- ICRA assigned long-term rating of AA- Stable for Rs 1 billion subordinated debt issue and for Rs 2 billion non-convertible debentures issue respectively.
  • 2011- PE Investments of Rs 2556.85 million in the company by Matrix partners, LLC The Welcome Trust, Kotak PE, Kotak Investments and Baring India PE.
  • 2011- Net owned funds crossed Rs 13 billion.
  • 2011- Gross annual income crossed Rs 23 billion.
  • 2011- Bank credit limit crossed Rs 60 billion.
  • 2011- Branch network crossed 2,700 branches.
  • 2012- Retail Loan portfolio crossed Rs 246 billion.
  • 2012- Retail debenture portfolio crossed Rs 66 billion.
  • 2012- ICRA assigned long-term rating of AA- Stable and short-term rating of A1+ for Rs 9,353 crore Line of credit.
  • 2012- Successful IPO of Rs 9,012.50 million in April 2011.
  • 2012- Raised Rs 6.93 billion through Non-convertible Debenture Public Issue- Series I.
  • 2012- Raised Rs 4.59 billion through Non-convertible Debenture Public Issue - Series II.
  • 2012- Net owned funds crossed Rs 29 billion.
  • 2012- Gross annual income crossed Rs 45 billion.
  • 2012- Bank credit limit crossed Rs 92 billion.
  • 2012- Branch network crossed 3,600 branches.
  • 2013- Raised Rs 2.59 billion through Non-Convertible Debenture Public Issue - Series III
  • 2013- Obtained RBI license to start operating 9,000 White Label ATMs
  • 2013- Branch network crossed 4,400 branches
  • 2013- Raised Rs 2.77 billion through NCD Public Issue - Series IV
  • 2013- Raised Rs 3.0 billion through NCD Public Issue -Series V
  • 2014- Raised Rs 418 crore through oversubscribed (1.8 times) Institutional Placement Programme (IPP)
  • 2014- Acquired 51 percent equity shares of Colombo-based PLC, Asia Asset Finance (AAF)
  • 2015- Issued 25,351,062 fresh equity shares by way of an institutional placement programme under Chapter VIII-A of the SEBI ICDR Regulations, aggregating up to Rs 4,182.93 million.
  • 2015- Listed Debenture Portfolio raised through public issue Rs 14.62 billion.
  • 2015- Retail Loan Portfolio touched Rs 234.09 billion.
  • 2015- Net owned funds crossed Rs 50 billion.
  • 2015- Gross annual income touched Rs 43.25 billion.
  • 2015- Profit after tax for the year touched Rs 6.71 billion.
  • 2016- Retail Loan Portfolio crossed Rs 243 billion.
  • 2016- Listed Debenture Portfolio raised through public issue Rs 12.39 billion.
  • 2016- Net Owned Funds crossed Rs 55 billion.
  • 2016- Gross annual income touched Rs 48.75 billion.
  • 2016- Profit after tax for the year touched Rs 8.10 billion.
  • 2016- Acquired 79% of the equity capital of Muthoot Homefin (India) Limited (MHIL). MHIL is a Housing Finance Company Registered with The National Housing Bank
  • 2016- Acquired Muthoot Insurance Brokers Private Limited (MIBPL) as a wholly-owned subsidiary in June 2016. MIBPL is an unlisted private limited company holding a licence to act as direct broker from IRDA since 2013
  • 2016- Acquired 46.83% of the capital of Belstar Investment and Finance Private Limited (BIFPL) in July 2016. BIFPL was reclassified as an ‘NBFC-MFI’ by RBI with effect from 11th December, 2013
  • 2016- CRISIL and ICRA upgraded long-term debt rating from AA-/Stable to AA/Stable.
  • 2017- Loan Assets Portfolio crossed Rs 272 billion.
  • 2017- Listed Debenture Portfolio raised through public issue Rs 18.31 billion.
  • 2017- Net Owned Funds crossed Rs 64 billion.
  • 2017- Gross annual income touched Rs 57.46 billion.
  • 2017- Profit after tax for the year touched Rs 11.80 billion.
  • 2017- Increased stake in BIFPL to 64.60% thus making it a subsidiary.
  • 2017- Enlarged stake in MHIL to 88.27%.
  • 2017- Improved stake in AAF to 60%.
  • 2018- Loan Assets Portfolio crossed Rs 291 billion.
  • 2018- Listed Debenture Portfolio raised through public issue of Rs 19.69 billion.
  • 2018- Net Owned Funds crossed Rs 77 billion.
  • 2018- Gross Annual Income touched Rs 62.43 billion.
  • 2018- Profit after tax for the year touched Rs 17.20 billion.
  • 2018- Branch network crossed 4,300.
  • 2018- Increased stake in BIFPL to 66.61%.
  • 2018- Enlarged stake in MHIL to 100% making it a wholly-owned subsidiary.
  • 2019- Loan Assets Portfolio crossed Rs 342 billion.
  • 2019- Listed Debenture Portfolio raised through public issue of Rs 37.09 billion.
  • 2019- Net Owned Funds crossed Rs 97.69 billion.
  • 2019- Gross Annual Income touched Rs 68.81 billion.
  • 2020- Muthoot Finance raises $550 million from international bond markets.
  • 2020- Fitch Ratings affirms Muthoot Finance's Long Term Issuer Default ratings.
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