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Muthoot Finance Limited (MUTHOOTFIN)

Financial Services · Finance · NSE · Updated 5 July 2026

₹3,054.9 ↑ 14.73% (1Y)

🎯 Key Takeaways

Muthoot Finance is in a high-growth phase driven by aggressive branch expansion and strategic diversification into microfinance and insurance. The company has demonstrated consistent profitability and strong asset growth, supported by robust gold loan disbursement and a sustainable yield model.
Revenue grew 5.3% QoQ to ₹5,190 in Q3FY25.
⚠️ Rising qualified borrowings to INR 81,034 crores increase financial leverage and interest burden, which could pressure margins if growth slows.

Market Cap

₹1.33 L Cr

P/E Ratio

26.6

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Muthoot Finance is in a high-growth phase driven by aggressive branch expansion and strategic diversification into microfinance and insurance. The company has demonstrated consistent profitability and strong asset growth, supported by robust gold loan disbursement and a sustainable yield model. Management is focused on scaling operations while maintaining capital efficiency and shareholder returns.

📰 What's Happening

In the latest filing on 2026-05-20, Muthoot Finance reported consolidated AUM of INR 1,65,000 crores, up 54% YoY, and PAT of INR 10,607 crores, up 98% YoY, driven by gold loan growth and new branch additions. The company declared a 300% dividend (INR 30 per share) and announced plans to open 200-300 new Muthoot Finance branches and 200 gold branches for Belstar Microfinance. Management reiterated its 15% AUM growth target and highlighted sustainable yield of 18.5-20%. Earlier, on 2026-05-17, shareholders approved amendments to the MoA to include insurance intermediary business, signaling strategic expansion beyond gold financing. The board re-appointed five directors including Joseph Korah and George M George on 2026-05-14, with auditor confirmation of compliance and rising qualified borrowings to INR 81,034 crores.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	3,275	3,472	3,606	3,820	4,164	4,474	4,929	5,190
Operating Profit	2,469	2,662	2,827	2,971	3,058	3,266	3,634	3,816
OPM %	74.7%	75.6%	77.7%	77.2%	73.1%	72.6%	73.1%	72.9%
Net Profit	1,009	1,045	1,095	1,145	1,182	1,196	1,321	1,392
EPS	₹24.25	₹25.46	₹26.39	₹27.49	₹28.37	₹28.99	₹31.67	₹35.36

Profit and operational metrics have shown steady improvement over the past eight quarters, with revenue growing from ₹3,275 crores in Q4FY23 to ₹5,190 crores in Q3FY25, while OPM has remained stable around 72-73%. Net profit and EPS have risen consistently, with a notable 98% YoY jump in PAT in the latest reported quarter, directly linked to expanded disbursements and branch network growth. The trajectory reflects successful scaling of high-yield assets and efficient operations, supported by a 15% AUM growth target maintained despite macro headwinds.

🔮 Management Outlook & What's Next

Management has maintained a positive and forward-looking tone in recent filings, explicitly stating plans to open 200-300 new Muthoot Finance branches and 200 gold branches for Belstar Microfinance to drive future AUM growth. The company reaffirmed its 15% AUM growth guidance and highlighted a sustainable yield range of 18.5-20%, underpinning confidence in long-term profitability. While no formal guidance was provided in the April 22 annual report, the consistent emphasis on expansion and yield stability suggests a clear roadmap for scaling the franchise.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Finance

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Bajaj Finance Limited	5.67 L Cr	30.9	22.4%	18.6%	1.37
Bajaj Finserv Limited	2.77 L Cr	14.4	—	13.4%	—
Shriram Finance Limited	2.21 L Cr	23.3	—	—	—
Jio Financial Services Limited	1.54 L Cr	92.1	—	—	—
Power Finance Corporation Limited	1.47 L Cr	5.0	—	—	—
Muthoot Finance Limited	1.33 L Cr	26.6	—	—	—
Cholamandalam Investment and Finance Company Limited	1.32 L Cr	31.9	—	—	—
Tata Capital Limited	1.31 L Cr	—	—	—	—
Indian Railway Finance Corporation Limited	1.29 L Cr	18.4	—	—	—
Bajaj Holdings & Investment Limited	1.15 L Cr	15.3	—	—	—

🔗 Peer Stock Analyses

BAJFINANCE BAJAJFINSV SHRIRAMFIN JIOFIN PFC

⚠️ Risk Factors

1. Rising qualified borrowings to INR 81,034 crores increase financial leverage and interest burden, which could pressure margins if growth slows. 2. Expansion into insurance and microfinance introduces operational and regulatory risks, including integration challenges and potential underwriting losses. 3. Geopolitical tensions and currency volatility, as highlighted in the annual report, may impact funding costs and asset valuations. 4. High concentration in gold loans makes the portfolio vulnerable to commodity price fluctuations and sector-specific demand shifts.

📋 Recent Filings

🧠 Analyst's Read

Muthoot Finance is executing a clear growth strategy through branch expansion and diversification, supported by strong financial performance and consistent shareholder returns. The key watchpoints over the next few quarters will be the pace of new branch openings, credit quality in the expanded microfinance portfolio, and management's ability to maintain yield and margin discipline amid rising leverage and external economic headwinds.

Based on filing content and financial data. Not a recommendation.

✨ Deep Dive with AI on MUTHOOTFIN

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-05.

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