A non-banking finance company lending to financially underserved women, primarily through joint liability group (JLG) loans and a growing book of individual MSME loans and loan-against-property. Revenue is entirely interest on the microfinance book; employee cost of Rs 603.51 crore is the largest operating line at 25.5% of revenue, followed by other opex at 7.7% and depreciation at 1.8%. Borrowings cost an average 10.27% in FY26, down 75 bps from the prior year. Net profit recovered to Rs 170 crore in FY26 from a prior-year loss, helped by credit cost easing to 3.5% of loans. The portfolio mix is shifting away from JLG toward individual MSME loans, LAP and other secured products, with management targeting Rs 30,000 crore of AUM by 2030. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Joint Liability Group (JLG) lending (83%), Individual MSME / small enterprise loans, Loan against property (LAP). Asset-light microfinance NBFC; profitability swings with credit cost cycles as the JLG book re-prices.
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 2,270 | 2,562 | 2,370 |
| EBITDA (ex other income) | 1,485 | 681 | 1,115 |
| margin % | 65.4 | 26.6 | 47.1 |
| Owners' profit | 450 | (223) | 170 |
| EPS, as reported (₹) | 30.20 | (13.29) | 10.16 |
| ROE % · ROCE % | 16.0 · — | (8.5) · — | 6.0 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 |
| Cash from operations | (2,125) | 1,382 | (580) |
| Capex | (28) | (21) | (11) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 667 | 681 | 555 | 559 | 576 | 603 | 632 | 669 |
| Profit before tax | 81 | 5 | (522) | 6 | 37 | 69 | 97 | 107 |
| Net profit | 62 | 4 | (401) | 6 | 31 | 62 | 71 | 81 |
| EPS (₹) | 3.61 | 0.22 | (23.54) | 0.37 | 1.82 | 3.73 | 4.24 | 4.85 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CREDITACCESS GRAMEEN LTD | 22,781 | 18.8 | 2.90 | 7.2 | 9.9 | — | 19.7 | 68.8 |
| MUTHOOT MICROFIN LIMITED ◆ | 3,275 | 13.3 | 1.15 | — | 6.0 | — | — | 54.5 |
| FUSION FINANCE LIMITED | 3,090 | 18.6 | 1.26 | — | 0.6 | — | — | 46.7 |
| SATIN CREDIT NET LTD | 2,386 | 5.8 | 0.83 | 0.5 | 11.6 | — | 18.0 | 55.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Muthoot Microfin raises Rs 250 crore through privately placed NCDs | fund raising | high | — | — |
| 8 Sept 2026 · Muthoot Microfin to participate in Bharat Connect investor meeting on Sep 29 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Muthoot Microfin to raise Rs 250 cr via NCDs at 9.25 percent | fund raising | high | — | — |
| 28 Aug 2026 · Muthoot Microfin raises Rs 250 Cr via NCDs at 9.25% in private placement | fund raising | medium | — | — |
| 25 Aug 2026 · Muthoot Microfin to consider NCD issuance via private placement | fund raising | medium | — | — |
| 24 Aug 2026 · Muthoot Microfin to participate in investor roadshow on Aug 31 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Muthoot Microfin informs about schedule of investor meeting | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Muthoot Microfin appoints Hannah Muthoot as Non-Executive Director | management changes | medium | — | — |
| 12 Aug 2026 · Muthoot Microfin AGM: 4 resolutions passed, debenture issuance approved | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Muthoot Microfin Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| SPANDANA SPHOORTY FIN LTD |
| 1,886 |
| — |
| 0.89 |
| — |
| (32.8) |
| — |
| (7.1) |
| 53.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.3 | 17.6 | 160 of 403 | 60% |
| P/B | 1.1 | 1.1 | 229 of 448 | 49% |
| ROE | 6.0 | 2.7 | 178 of 495 | 64% |
| Debt / Equity | 0.0 | 0.0 | 11 of 495 | 18% |
| EBITDA margin | 54.5 | 46.7 | 208 of 447 | 54% |
| Revenue growth | 19.7 | 10.5 | 167 of 418 | 60% |
| Profit growth | 1215.3 | 10.2 | 14 of 474 | 97% |
| Market cap | 3275 | 58 | 64 of 483 | 87% |
| A state: the latest filed quarter and the measured reactions |
| 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.
