Muthoot Capital Services Ltd
The company is deposit-taking NBFC & part of Muthoot Group. The group has established a strong reputation and brand in India, particularly in South India. The promoters have more than 30 years of experience in the lending business.
The company started its business in 2-wheeler financing in 1998 and since then expanded into financing used cars, consumer durables, and small-ticket business loans. [1]
- Market Cap ₹ 606 Cr.
- Current Price ₹ 368
- High / Low ₹ 452 / 262
- Stock P/E 9.16
- Book Value ₹ 372
- Dividend Yield 0.00 %
- ROCE 12.3 %
- ROE 9.43 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.99 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -5.11% over past five years.
- Company has a low return on equity of -2.11% over last 3 years.
- Earnings include an other income of Rs.99.0 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Finance Industry: Finance & Investments
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 107 | 159 | 191 | 228 | 284 | 398 | 518 | 586 | 504 | 411 | 443 | 399 | 392 |
Interest | 36 | 60 | 77 | 98 | 125 | 167 | 238 | 303 | 248 | 209 | 227 | 218 | 167 |
38 | 62 | 79 | 94 | 112 | 148 | 147 | 188 | 186 | 417 | 107 | 115 | 168 | |
Financing Profit | 32 | 36 | 35 | 36 | 47 | 83 | 134 | 95 | 70 | -215 | 109 | 67 | 57 |
Financing Margin % | 30% | 23% | 18% | 16% | 17% | 21% | 26% | 16% | 14% | -52% | 25% | 17% | 15% |
0 | -2 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 98 | 99 | |
Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 2 |
Profit before tax | 32 | 34 | 34 | 35 | 46 | 82 | 133 | 93 | 70 | -216 | 109 | 164 | 155 |
Tax % | 33% | 34% | 35% | 36% | 35% | 35% | 35% | 35% | 26% | -25% | 28% | 25% | |
22 | 22 | 22 | 23 | 30 | 54 | 86 | 60 | 51 | -162 | 79 | 123 | 116 | |
EPS in Rs | 15.88 | 16.21 | 16.27 | 16.68 | 21.96 | 32.64 | 52.35 | 36.77 | 31.29 | -98.46 | 47.84 | 74.58 | 70.35 |
Dividend Payout % | 23% | 25% | 28% | 30% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | -5% |
3 Years: | -8% |
TTM: | -12% |
Compounded Profit Growth | |
---|---|
10 Years: | 8% |
5 Years: | -10% |
3 Years: | 0% |
TTM: | -19% |
Stock Price CAGR | |
---|---|
10 Years: | 4% |
5 Years: | -4% |
3 Years: | -3% |
1 Year: | -17% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 3% |
3 Years: | -2% |
Last Year: | 9% |
Balance Sheet
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 12 | 12 | 12 | 12 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
Reserves | 90 | 106 | 121 | 135 | 166 | 377 | 431 | 491 | 543 | 395 | 473 | 595 |
354 | 571 | 700 | 878 | 991 | 1,441 | 2,126 | 2,351 | 1,945 | 1,625 | 1,891 | 1,660 | |
20 | 25 | 43 | 47 | 109 | 143 | 67 | 55 | 56 | 63 | 55 | 42 | |
Total Liabilities | 476 | 715 | 876 | 1,072 | 1,278 | 1,978 | 2,640 | 2,913 | 2,560 | 2,099 | 2,435 | 2,314 |
2 | 3 | 2 | 2 | 2 | 2 | 2 | 4 | 3 | 2 | 2 | 6 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 7 | 14 | 14 | 15 | 18 | 20 | 16 | 16 | 27 | 46 | 107 |
474 | 705 | 860 | 1,057 | 1,261 | 1,957 | 2,618 | 2,893 | 2,540 | 2,069 | 2,388 | 2,201 | |
Total Assets | 476 | 715 | 876 | 1,072 | 1,278 | 1,978 | 2,640 | 2,913 | 2,560 | 2,099 | 2,435 | 2,314 |
Cash Flows
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-142 | -199 | -129 | -166 | -99 | -614 | -501 | 24 | 670 | 73 | -46 | -7 | |
-2 | -8 | -6 | 0 | -2 | -3 | 0 | 2 | 1 | -9 | -17 | -63 | |
135 | 214 | 130 | 165 | 107 | 619 | 529 | 229 | -416 | -311 | 272 | -251 | |
Net Cash Flow | -9 | 7 | -5 | -0 | 6 | 2 | 29 | 255 | 255 | -248 | 209 | -321 |
Ratios
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROE % | 23% | 21% | 18% | 16% | 18% | 19% | 20% | 13% | 10% | -33% | 17% | 9% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Raising of Funds
15h - Muthoot Capital raises ₹74.74 Crores through securitization.
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Compliances-Half Yearly Report (SEBI Circular No. CIR/IMD/DF-1/67/2017)
1d - Half Yearly Statement of NCDs as of September 30, 2024.
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Announcement Under Regulation 30 - Updates (Certified As Great Place To Work)
2d - Muthoot Capital certified as a Great Place to Work.
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Intimation W.R.T Listing Of Commercial Paper
8 Oct - Approval for listing of Rs. 30 Crores commercial paper.
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Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD
5 Oct - Confirmation of full redemption of market linked debentures.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Jan 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Oct 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Jul 2019TranscriptNotesPPT
**Strategic benefits from Muthoot Group **
MCSL has common promoters and promoter directors like the other MPG companies.[1]
Besides its own sales force, MCSL also has access to the 3500+ branch network and large customer base of MFL for the origination of new loans and collection.[2]
Initially, it provided gold loans but subsequently, as the group scaled up its gold financing business in MFL, MCSL entered the two-wheeler financing segment in fiscal 2008 and gradually exited the gold loan business.