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).

Pros:
Company has good consistent profit growth of 20.38% over 5 years
Company has been maintaining a healthy dividend payout of 22.40%
Cons:
The company has delivered a poor growth of 6.81% over past five years.

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 1,382 1,341 1,710 1,365 1,662 1,580 1,647 1,632 1,650 1,717 1,880 1,857
Interest 594 597 546 512 493 472 454 502 535 589 611 642
319 292 565 312 418 364 418 367 359 335 463 391
Financing Profit 469 452 599 541 750 743 776 764 755 793 805 824
Financing Margin % 34% 34% 35% 40% 45% 47% 47% 47% 46% 46% 43% 44%
Other Income 4 6 4 12 0 11 55 1 0 1 1 2
Depreciation 11 12 13 10 11 12 11 9 10 11 12 10
Profit before tax 462 446 589 542 740 743 819 755 745 782 794 817
Tax % 36% 35% 45% 36% 40% 36% 38% 35% 35% 38% 36% 35%
Net Profit 297 291 322 345 446 479 508 492 484 485 512 530
EPS in Rs 7.44 7.29 8.06 8.63 11.16 11.98 12.71 12.29 12.09 12.12 12.77 13.23
Gross NPA % 2.19% 2.92% 2.06% 2.25% 4.56% 5.62% 6.98% 4.56% 0.00% 0.00% 0.00% 0.00%
Net NPA % 1.82% 2.54% 1.69% 1.89% 3.99% 4.93% 6.16% 0.00% 0.00% 0.00% 0.00% 0.00%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 367 616 1,077 2,316 4,549 5,387 4,947 4,325 4,875 5,746 6,267 6,878 7,103
Interest 182 317 479 1,040 2,372 2,823 2,630 2,108 2,260 2,298 1,935 2,243 2,377
82 146 250 497 813 1,007 1,077 1,105 1,241 1,479 1,510 1,518 1,548
Financing Profit 102 154 349 779 1,364 1,557 1,241 1,112 1,374 1,969 2,822 3,117 3,177
Financing Margin % 28% 25% 32% 34% 30% 29% 25% 26% 28% 34% 45% 45% 45%
Other Income 2 5 12 0 0 0 0 0 0 0 66 2 4
Depreciation 7 10 15 18 33 45 47 84 58 48 44 42 43
Profit before tax 97 148 346 761 1,331 1,511 1,194 1,028 1,317 1,921 2,845 3,077 3,138
Tax % 34% 34% 34% 35% 33% 34% 35% 35% 39% 39% 38% 36%
Net Profit 64 98 228 494 892 1,004 780 671 810 1,180 1,778 1,972 2,011
EPS in Rs 23.35 26.29 19.97 15.76 19.07 28.31 44.43 49.22 50.21
Dividend Payout % 0% 0% 0% 0% 17% 17% 29% 36% 30% 20% 23% 24%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:27.29%
5 Years:6.81%
3 Years:12.16%
TTM:8.91%
Compounded Profit Growth
10 Years:35.05%
5 Years:20.38%
3 Years:34.56%
TTM:4.49%
Return on Equity
10 Years:22.83%
5 Years:19.99%
3 Years:22.37%
Last Year:22.41%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Jun 2019
5 49 301 320 372 372 372 398 399 399 400 401 401
Reserves 217 321 284 1,014 2,554 3,364 3,893 4,686 5,220 6,117 7,412 9,392 9,342
Borrowings 1,915 3,166 5,281 11,934 19,376 24,081 19,478 19,436 18,567 20,985 21,167 26,833 19,392
162 237 579 457 1,070 1,600 1,855 2,250 2,862 3,211 1,841 1,470 9,870
Total Liabilities 2,299 3,773 6,444 13,726 23,372 29,416 25,597 26,769 27,049 30,713 30,820 38,096 39,005
99 116 124 184 263 289 313 257 218 208 200 193 190
CWIP 9 13 29 5 6 14 14 7 9 10 6 23 25
Investments 18 9 8 8 98 82 35 38 98 209 395 983 1,044
2,173 3,635 6,283 13,530 23,006 29,031 25,235 26,467 26,723 30,286 30,218 36,898 37,746
Total Assets 2,299 3,773 6,444 13,726 23,372 29,416 25,597 26,769 27,049 30,713 30,820 38,096 39,005

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-277 -663 -2,386 -6,038 -8,709 -3,952 5,726 -460 214 -1,710 -87 -3,810
-54 -12 -36 -76 -188 -33 -3 -16 -67 -134 -194 -633
533 1,300 2,115 6,740 8,329 4,795 -5,107 254 -1,204 2,457 -554 5,701
Net Cash Flow 202 624 -307 626 -568 809 617 -222 -1,058 613 -834 1,258

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 33% 33% 48% 52% 42% 30% 20% 14% 15% 19% 25% 22%

Credit Ratings