Muthoot Finance Ltd

Muthoot Finance 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 vide Regn No. N 16.00167. The Company is presently classified as Systemically Important Non-Deposit Taking NBFC (NBFC-ND-SI).

  • Market Cap: 40,779 Cr.
  • Current Price: 1,018
  • 52 weeks High / Low 1405.75 / 476.80
  • Book Value: 307.08
  • Stock P/E: 12.25
  • Dividend Yield: 1.47 %
  • ROCE: 16.06 %
  • ROE: 28.26 %
  • Sales Growth (3Yrs): 14.89 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
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Pros:
Company is expected to give good quarter
Company has delivered good profit growth of 35.10% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 25.40%
Company has been maintaining a healthy dividend payout of 22.27%
Cons:

Peer comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
1,662 1,580 1,647 1,632 1,650 1,717 1,880 1,857 2,137 2,321 2,400 2,385
418 364 418 367 359 335 463 391 413 504 523 378
Operating Profit 1,243 1,216 1,229 1,265 1,290 1,382 1,417 1,466 1,724 1,816 1,877 2,007
OPM % 75% 77% 75% 78% 78% 80% 75% 79% 81% 78% 78% 84%
Other Income 0 11 55 1 1 1 1 2 4 0 2 0
Interest 493 472 454 502 535 589 611 642 670 709 770 872
Depreciation 11 12 11 9 10 11 12 10 10 11 12 10
Profit before tax 740 743 819 755 745 782 794 817 1,047 1,096 1,097 1,125
Tax % 40% 36% 38% 35% 35% 38% 36% 35% 18% 26% 26% 25%
Net Profit 446 479 508 492 484 485 512 530 858 815 815 841
EPS in Rs 11.16 11.98 12.71 12.29 12.09 12.12 12.77 13.23 21.41 20.04 20.33 20.96
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
616 1,077 2,316 4,549 5,387 4,947 4,325 4,875 5,746 6,267 6,878 8,715 9,243
146 250 497 813 1,007 1,077 1,105 1,241 1,479 1,510 1,518 1,827 1,819
Operating Profit 470 828 1,819 3,736 4,380 3,871 3,220 3,634 4,267 4,757 5,360 6,888 7,424
OPM % 76% 77% 79% 82% 81% 78% 74% 75% 74% 76% 78% 79% 80%
Other Income 5 12 0 0 0 0 0 0 0 66 2 8 7
Interest 317 479 1,040 2,372 2,823 2,630 2,108 2,260 2,298 1,935 2,243 2,796 3,021
Depreciation 10 15 18 33 45 47 84 58 48 44 42 43 43
Profit before tax 148 346 761 1,331 1,511 1,194 1,028 1,317 1,921 2,845 3,077 4,057 4,366
Tax % 34% 34% 35% 33% 34% 35% 35% 39% 39% 38% 36% 26%
Net Profit 98 228 494 892 1,004 780 671 810 1,180 1,778 1,972 3,018 3,329
EPS in Rs 23.35 26.29 19.97 15.76 20.29 29.53 44.43 49.22 75.26 82.74
Dividend Payout % -0% -0% -0% 17% 17% 29% 36% 30% 20% 23% 24% 20%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:23.25%
5 Years:15.04%
3 Years:14.89%
TTM:30.13%
Compounded Profit Growth
10 Years:29.52%
5 Years:35.10%
3 Years:36.77%
TTM:65.57%
Stock Price CAGR
10 Years:%
5 Years:45.06%
3 Years:28.78%
1 Year:52.12%
Return on Equity
10 Years:23.70%
5 Years:23.01%
3 Years:25.40%
Last Year:28.26%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Jun 2020
49 301 320 372 372 372 398 399 399 400 401 401 401
Reserves 321 284 1,014 2,554 3,364 3,893 4,686 5,220 6,117 7,412 9,392 11,171 11,915
Borrowings 3,166 5,281 11,934 19,376 24,081 19,478 19,436 18,567 20,985 21,167 26,833 37,130 38,784
237 578 455 1,070 1,600 1,852 2,250 2,862 3,211 1,813 1,443 1,758 1,672
Total Liabilities 3,773 6,443 13,723 23,372 29,416 25,594 26,769 27,049 30,713 30,792 38,069 50,460 52,772
116 124 184 263 289 313 257 218 208 200 193 228 225
CWIP 13 29 5 6 14 14 7 9 10 6 23 29 30
Investments 9 8 8 98 82 35 38 98 209 395 983 1,438 3,613
3,635 6,282 13,527 23,006 29,031 25,232 26,467 26,723 30,286 30,191 36,871 48,765 48,904
Total Assets 3,773 6,443 13,723 23,372 29,416 25,594 26,769 27,049 30,713 30,792 38,069 50,460 52,772

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-663 -2,386 -6,038 -8,709 -3,952 5,726 -460 214 -1,710 -87 -3,858 -4,458
-12 -36 -76 -188 -33 -3 -16 -67 -134 -194 -585 -429
1,300 2,115 6,740 8,329 4,795 -5,107 254 -1,204 2,457 -554 5,701 8,678
Net Cash Flow 624 -307 626 -568 809 617 -222 -1,058 613 -834 1,258 3,791

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 18% 19% 21% 17% 15% 13% 15% 16% 17% 16% 16%
Debtor Days 2 1 55 59 78 86 97 110 81 1 1 0
Inventory Turnover 89.52 47.13

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
73.70 73.63 73.61 73.60 73.58 73.51 73.49 73.49 73.48 73.44 73.43 73.43
11.39 11.77 11.10 9.87 10.18 11.00 12.35 13.90 15.03 14.50 14.37 14.56
10.91 10.43 10.81 11.91 11.68 10.99 9.83 8.35 7.52 7.84 7.09 7.34
0.10 0.10 0.10 0.10 0.10 0.10 0.00 0.00 0.00 0.00 0.00 0.00
3.90 4.07 4.38 4.52 4.46 4.40 4.33 4.26 3.96 4.22 5.12 4.68