Investor Presentation for the quarte and Financial Year ended March 31, 2026
MUTHOOTCAP · price
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Muthoot Capital Services, an RBI-registered NBFC focused on automobile financing, reported Q4 FY26 AUM of ₹3,350 Cr with annual disbursements of ₹2,349 Cr. The company posted profit after tax of ₹8 Cr in Q4 FY26 versus ₹3.9 Cr in Q3 FY25, showing improved profitability. Asset quality improved with GNPA declining from 6.96% to 6.41% (POS basis) and NNPA from 4.3% to 3.50%. Capital adequacy stands at a healthy 22.7%, well above regulatory requirements. Product-wise, Commercial Vehicle loans surged 232% YoY while Two-Wheeler loans (core product) grew 3% YoY; Co-lending disbursements declined 62% YoY as new disbursements under co-lending arrangements were stopped with certain partners.
Strong capital buffer and improving asset quality are positives. The 62% drop in co-lending business may impact growth trajectory. The company's focus on direct retail disbursements through MCSL channel and diversification into CV and used car segments appears strategic.