Lends against household gold ornaments through a network of 7,654 branches, with gold-backed loans making up nearly the entire loan book. As of Q1 FY27, gold loan assets under management stood at ₹1,75,527 crore, and management cites a 47% share of NBFC gold financing. Consolidated loan AUM reached ₹1,91,532 crore, up 43% year-on-year. The group also operates Belstar Microfinance (81 new gold loan branches in FY26, ~200 more planned for FY27), Muthoot Money (gold AUM up 151% to ₹9,794 crore), Muthoot Homefin for housing finance, and Asia Asset Finance PLC in Sri Lanka. Shareholders have approved an MOA amendment to begin insurance distribution as a corporate agent across life, general, and health insurance. FY26 standalone profit after tax was ₹10,134 crore on consolidated AUM of ₹1,65,000 crore. The active customer base reached 6.58 million in Q1 FY27, with average loan-to-value around 57% and yields near 20.76% in Q4 FY26. The dominant cost is finance — interest on borrowings used to fund lending. Finance costs rose 47% year-on-year in Q1 FY27, faster than 34% interest income growth, pushing net interest margin to 10.41% from 12.15%. Employee cost was 8.9% of revenue and other operating expenses 6.4% in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gold loan interest income, Muthoot Homefin, Belstar Microfinance, Muthoot Money, Asia Asset Finance PLC, Insurance distribution. Gold-backed NBFC lending with gold collateral as the dominant asset and finance costs as the primary expense
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12,185 | 11,898 | 15,062 | 20,214 | 31,209 |
| EBITDA (ex other income) | 9,683 | 9,133 | 11,418 | 14,684 | 25,388 |
| margin % | 79.5 | 76.8 | 75.8 | 72.6 | 81.3 |
| Owners' profit | 4,017 | 3,612 | 4,324 | 5,333 | 10,590 |
| EPS, as reported (₹) | 100.10 | 89.99 | 107.72 | 132.84 | 263.79 |
| ROE % · ROCE % | 21.1 · — | 16.6 · — | 17.3 · — | 17.8 · — | 26.7 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (1,373) | (2,804) | (13,754) | (26,376) | (47,393) |
| Capex | (97) | (141) | (222) | (217) | (153) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,929 | 5,190 | 5,622 | 6,450 | 7,283 | 8,188 | 9,289 | 8,672 |
| Profit before tax | 1,802 | 1,886 | 1,932 | 2,654 | 3,244 | 3,822 | 4,584 | 3,797 |
| Net profit | 1,321 | 1,392 | 1,444 | 1,974 | 2,412 | 2,823 | 3,397 | 2,825 |
| EPS (₹) | 31.67 | 35.36 | 36.81 | 50.22 | 60.29 | 69.84 | 83.43 | 69.72 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Muthoot Finance infuses Rs 31.80 Cr in Sri Lankan subsidiary AAF | strategic transactions | medium | — | — |
| 2 Sept 2026 · Muthoot Finance: 8 director appointments approved at AGM | management changes | medium | — | — |
| 31 Aug 2026 · Muthoot Finance 29th AGM: record FY26 performance, 300% dividend, leadership transition | board shareholder meetings | medium | — | — |
| 31 Aug 2026 · Board approves amalgamation of wholly owned Muthoot Money with Muthoot Finance | board shareholder meetings | medium | — | — |
| 18 Aug 2026 · Trading window closed from Aug 24 to Sep 02, 2026 | compliance | minimal | — | — |
| 11 Aug 2026 · Muthoot Finance informs shareholders about 29th AGM and FY26 annual report access | compliance | minimal | — | — |
| 8 Aug 2026 · Muthoot Finance publishes 29th AGM notice in newspapers | compliance | minimal | — | — |
| 8 Aug 2026 · Book closure from Aug 24 to 31 for 29th AGM | board shareholder meetings | low | — | — |
| 7 Aug 2026 · Muthoot Finance files BRSR for FY 2025-26 | compliance | low | — | — |
| 7 Aug 2026 · Muthoot Finance FY26 Annual Report: PAT up 98 percent to about Rs 106 bn | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 10.4 |
| — |
| — |
| 75.8 |
| MUTHOOT FINANCE LIMITED ◆ | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.9 | 18.2 | 63 of 212 | 71% |
| P/B | 2.8 | 1.1 | 191 of 245 | 22% |
| ROE | 26.7 | 3.0 | 7 of 266 | 98% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 84.0 | 48.6 | 49 of 249 | 81% |
| Revenue growth | 34.4 | 12.6 | 80 of 231 | 66% |
| Profit growth | 43.1 | 7.8 | 92 of 251 | 64% |
| Market cap | 112094 | 37 | 5 of 260 | 99% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
