Muthoot Finance Ltd

₹ 3,838 2.77%

12 Dec - close price

muthootfinance.com BSE: 533398 NSE: MUTHOOTFIN

About

Muthoot Finance is NBFC engaged in the business of providing gold loans. The company predominately operates in Southern India^[1]

Key Points

Business Verticals
1) Muthoot Finance Ltd (MFL): The company is India’s largest gold financing company in terms of loan portfolio, and also offers Money Transfer Services, Business loans, Corporate Loans, loans against Property, Collection Services, etc. It operates 4,800+ branches across 29 States and Union territories. It holds 202 tons of gold jewelry as security and services 2+ lakh customers daily. ^[1]

Website BSE NSE

Market Cap ₹ 1,54,068 Cr.
Current Price ₹ 3,838
High / Low ₹ 3,848 / 1,964
Stock P/E 21.2
Book Value ₹ 793
Dividend Yield 0.68 %
ROCE 13.4 %
ROE 19.7 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 23.1%

Cons

Stock is trading at 4.84 times its book value

* 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

Financial Services Financial Services Finance Non Banking Financial Company (NBFC)

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 BSE MidCap Nifty Midcap 100 Nifty Midcap 50 Nifty 200 Nifty Financial Services Nifty Alpha 50 BSE Allcap BSE Financial Services BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index BSE Momentum Index Nifty200 Momentum 30 Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Financial Services 25/50 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty Midcap150 Quality 50 Nifty Midcap Select Nifty Total Market Nifty200 Alpha30 Nifty Midcap150 Momentum 50 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted Nifty500 Multifactor MQVLv50

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	2,498	2,660	2,853	2,999	3,060	3,168	3,409	3,704	4,117	4,423	4,854	5,703	6,432
Interest	903	914	941	1,064	1,156	1,212	1,223	1,351	1,550	1,648	1,880	2,119	2,313
	426	531	690	635	572	566	753	849	852	913	966	832	971
Financing Profit	1,169	1,214	1,223	1,300	1,332	1,390	1,434	1,504	1,715	1,863	2,009	2,752	3,149
Financing Margin %	47%	46%	43%	43%	44%	44%	42%	41%	42%	42%	41%	48%	49%
	6	7	10	28	14	8	9	6	9	8	34	17	29
Depreciation	14	15	17	13	15	17	19	18	16	20	23	24	26
Profit before tax	1,161	1,207	1,216	1,315	1,330	1,380	1,424	1,492	1,708	1,851	2,020	2,745	3,151
Tax %	25%	25%	26%	26%	26%	26%	26%	28%	27%	26%	25%	25%	26%
	867	902	903	975	991	1,027	1,056	1,079	1,251	1,363	1,508	2,046	2,345
EPS in Rs	21.60	22.46	22.49	24.29	24.69	25.59	26.31	26.87	31.16	33.95	37.56	50.97	58.41
Gross NPA %		2.58%	3.79%	4.26%	4.01%	3.62%	3.28%	3.98%	4.30%	4.22%	3.41%	2.58%	2.25%
Net NPA %		2.31%	3.40%	3.82%	3.59%	3.23%	2.90%	3.48%	3.68%	3.51%	2.79%	2.10%	1.86%
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	4,947	4,325	4,875	5,746	6,267	6,878	8,715	10,557	11,082	10,515	12,635	17,099	21,413
Interest	2,630	2,108	2,260	2,298	1,935	2,243	2,796	3,699	3,845	3,709	4,667	6,466	7,959
	1,077	1,105	1,241	1,479	1,510	1,518	1,827	1,818	1,891	2,110	2,513	3,543	3,682
Financing Profit	1,241	1,112	1,374	1,969	2,822	3,117	4,092	5,040	5,347	4,696	5,455	7,091	9,773
Financing Margin %	25%	26%	28%	34%	45%	45%	47%	48%	48%	45%	43%	41%	46%
	0	0	0	0	66	2	8	17	16	29	59	57	87
Depreciation	47	84	58	48	44	42	43	51	54	58	66	77	92
Profit before tax	1,194	1,028	1,317	1,921	2,845	3,077	4,057	5,007	5,309	4,666	5,449	7,071	9,768
Tax %	35%	35%	39%	39%	38%	36%	26%	26%	26%	26%	26%	26%
	780	671	810	1,180	1,778	1,972	3,018	3,722	3,954	3,474	4,050	5,201	7,262
EPS in Rs	20.99	16.85	20.29	29.53	44.43	49.22	75.26	92.78	98.53	86.52	100.87	129.54	180.89
Dividend Payout %	29%	36%	30%	20%	23%	24%	20%	22%	20%	25%	24%	20%

Compounded Sales Growth
10 Years:	15%
5 Years:	14%
3 Years:	16%
TTM:	49%

Compounded Profit Growth
10 Years:	23%
5 Years:	11%
3 Years:	10%
TTM:	65%

Stock Price CAGR
10 Years:	36%
5 Years:	26%
3 Years:	52%
1 Year:	83%

Return on Equity
10 Years:	21%
5 Years:	21%
3 Years:	19%
Last Year:	20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	372	398	399	399	400	401	401	401	401	401	401	401	401
Reserves	3,893	4,686	5,220	6,117	7,412	9,392	11,171	14,838	17,943	20,660	23,889	28,036	31,442
Borrowing	19,478	19,436	18,567	20,985	21,167	26,833	37,130	45,946	49,811	49,734	58,783	89,820	111,945
	1,852	2,250	2,862	3,211	1,813	1,443	1,758	2,280	2,399	1,824	1,955	2,991	3,680
Total Liabilities	25,594	26,769	27,049	30,713	30,792	38,069	50,460	63,465	70,555	72,620	85,028	121,249	147,468
	313	257	218	208	200	193	228	247	267	272	350	480	472
CWIP	14	7	9	10	6	23	29	38	46	67	88	13	10
Investments	35	38	98	209	395	983	1,438	1,590	1,320	1,317	2,268	4,499	7,931
	25,232	26,467	26,723	30,286	30,191	36,871	48,765	61,589	68,921	70,964	82,322	116,257	139,055
Total Assets	25,594	26,769	27,049	30,713	30,792	38,069	50,460	63,465	70,555	72,620	85,028	121,249	147,468

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5,726	-460	214	-1,710	-87	-3,858	-4,458	-7,477	-1,142	-1,902	-9,302	-25,855
	-3	-16	-67	-134	-194	-585	-429	48	408	188	-739	-1,944
	-5,107	254	-1,204	2,457	-554	5,701	8,678	9,041	2,796	-1,036	8,649	29,933
Net Cash Flow	617	-222	-1,058	613	-834	1,258	3,791	1,612	2,062	-2,750	-1,392	2,134

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
ROE %	20%	14%	15%	19%	25%	22%	28%	28%	24%	18%	18%	20%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%
	10.00%	9.37%	8.70%	8.12%	8.34%	8.33%	8.68%	9.85%	10.26%	11.02%	10.84%	11.58%
	12.02%	12.66%	13.73%	14.64%	14.61%	14.72%	14.55%	13.30%	12.99%	11.75%	12.21%	11.37%
	4.62%	4.61%	4.21%	3.87%	3.72%	3.59%	3.41%	3.50%	3.38%	3.87%	3.60%	3.70%
No. of Shareholders	2,66,217	2,72,148	2,46,597	2,17,233	2,03,284	1,94,951	1,82,990	2,98,304	3,04,528	3,05,672	2,88,688	2,99,709

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	73.71%	73.61%	73.49%	73.43%	73.40%	73.37%	73.35%	73.35%	73.35%	73.35%
	13.55%	11.10%	12.35%	14.37%	15.99%	12.13%	9.37%	8.33%	11.02%	11.58%
	8.11%	10.81%	9.83%	7.09%	6.60%	9.67%	12.66%	14.72%	11.75%	11.37%
	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	4.63%	4.38%	4.33%	5.12%	4.02%	4.83%	4.61%	3.59%	3.87%	3.70%
No. of Shareholders	40,273	49,608	46,455	67,539	1,60,789	2,42,216	2,72,148	1,94,951	3,05,672	2,99,709

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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