Muthoot Finance Limited has informed the Exchange about Transcript
MUTHOOTFIN · price
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Muthoot Finance reported record Q4 FY26 results with consolidated gold loan AUM at INR 1,65,000 crores (up 54% YoY) and standalone PAT of INR 10,134 crores (up 95% YoY). Consolidated PAT reached INR 10,607 crores, up 98% YoY. The company declared highest-ever dividend of INR 30 per share (300%), marking the 14th consecutive year of dividend since IPO. Management increased lending rates by 0.5-1% last quarter, pushing yields to 20.76%. Average LTV stands at 57% with NPA at 2.34% (stage 3 including interest at 58% LTV). Management explicitly declined to provide margin guidance, stating growth will follow AUM expansion. They guided 15% AUM growth for FY27 (consistent with 10-year practice). Branch expansion planned at 200-300 for Muthoot Finance and 200 gold branches for Belstar. One-off income of INR 85 crores (INR 50 crores auction + INR 35 crores ARC) was booked this quarter.
Strong earnings growth with 95-98% PAT growth demonstrates robust gold loan demand and operational efficiency. Management's refusal to guide margins and statements about dynamic pricing strategy suggest yield sustainability is uncertain. Customer base churn (smaller ticket customers migrating to higher segments) is a natural portfolio maturation phenomenon rather than competitive loss.