Muthoot Finance Ltd.

•

muthootgroup.comBSE: 533398NSE: MUTHOOTFIN

Market Cap₹ 1,12,186 Cr.

Current Price

High / Low₹ 4,150 / 2,671

Stock P/E10.5

Book Value₹ 971

Price to Book3.36

Dividend Yield1.07 %

ROCE16.1 %

ROE30.6 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2018 • Financing: 100.0% • Power Generation: 0.0%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 22.2% CAGR over last 5 years
Comfortable capital adequacy - CAR of 20.8%
Solid return on assets for a lender - ROA of 6.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 22.7%
Company has delivered good sales growth of 21.2% CAGR over last 5 years
Operating margins have improved to 85.9% from 80.2%

CONS

Net NPA is elevated at 2.1% - provisioning cushion is thin
Free cash flow has been persistently negative
Though reporting repeated profits, the company pays out little dividend (11.9%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - NBFC

Part ofNIFTY NEXT 50 NIFTY ALPHA 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY FIN SERVICE

S.No.	Name
1.	BAJFINANCE	1034.20	31.71	643888.19	0.58	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1028.00	21.37	241893.03	1.05	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	CHOLAFIN	1845.00	27.40	157575.18	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
4.	TATACAP	362.80	28.50	154003.85	0.16	16281.80	1464.16	88219.30	1051.00	8.66	75.72
5.	JIOFIN	230.00	73.49	151872.26	0.26	830.25	155.73	2004.47	227.28	2.11	69.71
6.	BAJAJHLDNG	11120.70	13.97	123766.17	1.75	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2794.40	9.86	112186.35	1.07	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	398.60	26.59	109118.68	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	309.50	24.37	77571.61	0.89	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	656.05	27.44	62432.55	0.38	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	668.65	25.53	55549.10	0.60	785.20	38.31	4937.90	18.71	9.09	57.98
12.	SUNDARMFIN	4714.65	23.60	52381.58	0.85	636.19	33.88	2644.13	23.37	9.35	80.61

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,977	3,037	3,141	3,382	3,677	4,089	4,394	4,821	5,660	6,377	7,185	8,116	7,589
	635	572	566	753	849	852	913	951	832	971	1,007	1,154	4,180
Operating Profit	2,364	2,488	2,602	2,656	2,855	3,266	3,510	3,903	4,872	5,461	6,236	7,026	6,574
OPM %	79.41%	81.93%	82.82%	78.55%	77.63%	79.86%	79.89%	80.95%	86.07%	85.64%	86.79%	86.57%	86.63%
Other Income	28	14	8	9	6	9	8	20	17	29	20	14	14
Interest	1,064	1,156	1,212	1,223	1,351	1,550	1,648	1,880	2,119	2,313	2,647	2,863	3,146
Depreciation	13	15	17	19	18	16	20	23	24	26	28	10	20
	1,315	1,330	1,380	1,424	1,492	1,708	1,851	2,020	2,745	3,151	3,582	4,167	3,423
Tax %	25.82%	25.50%	25.59%	25.80%	27.69%	26.75%	26.34%	25.37%	25.47%	25.58%	25.83%	25.94%	25.49%
Net Profit	975	991	1,027	1,056	1,079	1,251	1,363	1,508	2,046	2,345	2,656	3,086	2,550
	24	25	26	26	27	31	34	38	51	58	66	77	6

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,729	6,267	6,878	8,715	10,557	11,082	10,515	12,635	17,099	27,558	29,267
	1,479	1,510	1,519	1,827	1,818	1,891	2,110	2,513	3,522	3,884	7,312
Operating Profit	4,249	4,757	5,360	6,888	8,739	9,192	8,405	10,122	13,577	23,675	21,955
OPM %	74.17%	75.90%	77.92%	79.04%	82.78%	82.94%	79.94%	80.11%	79.40%	85.91%	75.02%
	18	67	2	8	17	16	29	59	36	42	77
Interest	2,298	1,935	2,243	2,796	3,699	3,845	3,709	4,667	6,466	9,984	10,968
Depreciation	48	44	42	43	51	54	58	66	77	87	83
Profit before Tax	1,921	2,845	3,077	4,057	5,007	5,309	4,666	5,449	7,071	13,645	14,323
Tax %	38.58%	37.51%	35.90%	25.61%	25.65%	25.52%	25.56%	25.68%	26.45%	25.73%	25.73%
Net Profit	1,180	1,778	1,972	3,018	3,722	3,954	3,474	4,050	5,201	10,134	10,638
EPS	29.45	44.33	49.18	75.21	92.71	98.50	86.52	100.87	129.54	252.43	—
Dividend Payout %	20.32%	22.51%	24.38%	19.93%	21.56%	20.30%	25.43%	23.79%	20.07%	11.88%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 21%
3 Years:: 38%

COMPOUNDED PROFIT GROWTH

10 Years:: 29%
5 Years:: 22%
3 Years:: 43%

STOCK PRICE CAGR

10 Years:: 23%
5 Years:: 13%
3 Years:: 30%
1 Year:: -3%

RETURN ON EQUITY

10 Years:: 23%
5 Years:: 22%
3 Years:: 23%
Last Year:: 31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	399	400	401	401	401	401	401	401	401	401
	6,095	7,393	9,376	11,158	14,827	17,937	20,658	23,888	28,036	37,341
	20,853	21,446	26,841	37,131	45,948	49,813	49,746	59,051	90,083	1,38,581
Trade Payables	111	124	163	218	202	114	79	100	115	116
	3,896	1,422	1,270	1,552	2,058	2,241	1,695	1,555	2,553	3,428
Total Liabilities	31,355	30,786	38,051	50,460	63,436	70,506	72,580	84,996	1,21,189	1,79,867
	208	200	193	228	247	267	272	350	480	514
Capital Work in Progress	10	6	23	29	38	46	67	88	13	10
	209	395	983	1,438	1,590	1,320	1,317	2,268	4,499	3,855
	0	0	0	0	0	0	0	1	1	1
Cash & Bank	1,534	487	1,736	5,641	7,190	9,243	6,461	5,045	7,191	11,707
	29,394	29,697	35,118	43,124	54,371	59,630	64,462	77,242	1,09,005	1,63,780
Total Assets	31,355	30,786	38,051	50,460	63,436	70,506	72,580	84,996	1,21,189	1,79,867

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,623	3,560	-148	-822	-2,985	3,754	3,305	-4,302	-20,161	-33,512
Cash from Investing	-134	-194	-585	-429	48	408	188	-739	-1,944	1,270
Cash from Financing	2,457	-554	5,701	8,678	9,041	2,796	-1,036	8,649	29,933	45,569
	613	-834	1,258	3,791	1,612	2,062	-2,750	-1,392	2,134	4,516

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.35	73.35	73.35	73.35	73.35	73.35	73.35	73.35	73.35
	8.68	9.85	10.26	11.02	10.84	11.58	11.75	12.31	11.61
	14.55	13.29	12.98	11.74	12.20	11.36	11.12	10.42	10.75
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	3.42	3.51	3.41	3.89	3.61	3.72	3.78	3.94	4.30

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Acquisition

2026-09-09 - Muthoot Finance Limited has informed the Exchange about Acquisition

2026-09-02

Change in Director(s)

2026-09-02 - Muthoot Finance Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-31

Shareholders meeting

2026-08-31 - Muthoot Finance Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026

2026-08-31

Amalgamation/Merger

2026-08-31 - Muthoot Finance Limited has informed the Exchange about Amalgamation/Merger

2026-08-18

Trading Window

2026-08-18 - Muthoot Finance Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-08-11

General Updates

2026-08-11 - Muthoot Finance Limited has informed the Exchange about General Updates

2026-08-08

Copy of Newspaper Publication

2026-08-08 - Muthoot Finance Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-08

Record Date

2026-08-08 - Muthoot Finance Limited has informed the Exchange that Book Closure for Annual General Meeting of the Company is 24-Aug-2026.

2026-08-08

Updates

2026-08-08 - Muthoot Finance Limited has informed the Exchange regarding 'Book Closure For Annual General Meeting'.