Muthoot Finance Limited (MUTHOOTFIN)

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Muthoot Finance Limited (MUTHOOTFIN) · mywealthgrid

About

Muthoot Finance Limited is a non-banking financial company (NBFC) in the financials sector with ₹1.14 lakh crore market capitalization. The company operates a leveraged lending business achieving 81.35% operating margin and 30.92% ROE, demonstrating strong profitability and capital efficiency.

Face value: ₹10

Market cap

₹1,08,289 Cr

P/E

9.5×

P/B

2.8×

Dividend yield

2.1%

ROE

30.9%

ROCE

—

Debt / equity

3.88

OPM

81.4%

EPS (TTM)

₹283.3

Book value

₹974.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High leverage: debt-to-equity of 3.88 amplifies sensitivity to credit losses or funding shocks in a lending business
Operating margin variability: OPM has ranged from 79.68% to 86.63% in recent quarters; verify whether rising costs or credit-provision requirements are pressuring returns
Asset-quality metrics (NPL ratio, provision coverage) are not visible; verify credit health given the leverage and margin volatility
Regulatory risk: RBI actions on NBFC liquidity or capital requirements directly impact profitability and asset-growth capacity

Generated analysis · source review pending

Growth drivers

EPS has ranged from ₹58.42 to ₹83.43 across recent quarters (43% spread); verify whether growth reflects loan-book expansion or one-time items
ROE of 30.92% demonstrates profitable capital deployment; verify asset-growth plans and whether leverage will remain stable or adjust
Quarterly net profits of ₹2.3–₹3.4 Cr paired with regular dividend declarations (2022 onwards) indicate strong cash generation; verify payout ratio sustainability
NBFC sector growth in India spans structured lending segments; verify Muthoot's competitive position and market-share trends

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹2,697.1-1.5%1Y

Quick read

rule-based

Pros

+Strong return on equity of 23% (3-yr avg)
+Healthy operating margin of 81.4%
+Profit CAGR of 22.7% over the last 5 years
+Revenue CAGR of 22% over the last 5 years
+High promoter holding of 73.4% with no pledge

Cons

−Heavily leveraged (debt/equity 3.9)

Research score

Structured signal from quality, growth, valuation and momentum.

81/100

Business quality: 52
Growth: 100
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,713	7,594	9,684	11,531	12,185	11,898	15,062	20,214	31,209
Interest	2,127	2,535	3,173	4,100	4,256	4,209	5,430	7,412	11,000
Expenses	1,712	1,806	2,215	2,268	2,501	2,765	3,644	5,530	5,822
Financing profit	2,873	3,253	4,296	5,163	5,428	4,924	5,988	7,272	14,388
Financing margin %	42.8%	42.8%	44.4%	44.8%	44.5%	41.4%	39.8%	36%	46.1%
Other income	69	7	23	36	53	77	101	110	54
Depreciation	—	—	59	67	70	78	92	116	137
Profit before tax	2,942	3,260	4,260	5,131	5,410	4,923	5,997	7,266	14,305
Tax	1,088	1,133	1,092	1,313	1,379	1,253	1,529	1,914	3,698
Tax %	37%	34.8%	25.6%	25.6%	25.5%	25.5%	25.5%	26.3%	25.9%
PAT	1,844	2,103	3,169	3,819	4,031	3,670	4,468	5,352	10,607
EPS (₹)	45.8	51.9	78.3	94.8	100.1	90	107.7	132.8	263.8
EPS adjusted (₹)	45.8	51.9	78.3	94.8	100.1	90	107.7	132.8	263.8
	21.8%	0%	34.5%	0%	20%	22.2%	20.4%	18.1%	—
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	399	401	401	401	401	401	401	401	401
Reserves	6,121	9,531	11,428	15,174	18,384	21,264	24,706	28,965	38,729
Minority interest	—	—	—	—	—	487	647	627	644
	22,286	30,128	40,935	50,397	54,553	55,788	68,261	99,369	1,51,787
	2,781	1,676	2,117	2,670	2,978	2,208	2,454	3,498	4,193
Total equity & liabilities	31,588	41,735	54,882	68,641	76,316	80,149	96,469	1,32,860	1,95,754
	244	244	281	296	318	363	461	656	689
CWIP	10	23	29	38	52	67	88	13	10
Investments	105	211	630	809	523	546	712	2,401	550
	31,228	41,257	53,942	67,498	75,423	79,173	95,207	1,29,790	1,94,504
Total assets	31,588	41,735	54,882	68,641	76,316	80,149	96,469	1,32,860	1,95,754

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	76.2%	77.1%	80.3%	79.5%	76.8%	75.8%	72.6%	81.4%
EBIT margin %	76.2%	76.5%	79.7%	78.9%	76.1%	75.2%	72.1%	80.9%
PAT margin %	27.7%	32.7%	33.1%	33.1%	30.8%	29.7%	26.5%	34%
Working capital
Receivable days	1	0	0	0	—	—	—	—
Inventory days	—	—	—	—	0	0	0	0
Payable days	—	—	—	—	—	—	—	—
NWC days	—	—	—	—	—	—	—	—
Leverage
Current ratio	—	—	—	—	—	—	—	—
Debt to EBITDA	5.2	5.48	5.44	5.63	6.11	5.98	6.77	5.98
Debt to equity	3.03	3.46	3.24	2.9	2.57	2.72	3.38	3.88
Interest coverage	2.3	2.3	2.3	2.3	2.2	2.1	2	2.3
Asset turnover	0.18	0.18	0.17	0.16	0.15	0.16	0.15	0.16
Return ratios
Return on assets %	5%	5.8%	5.6%	5.3%	4.6%	4.6%	4%	5.4%
Return on capital employed %	—	—	—	—	—	—	—	—
Return on equity %	21.2%	26.8%	24.5%	21.5%	16.9%	17.8%	18.2%	27.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%	73.35%
	8.12%	8.33%	8.33%	8.69%	9.84%	10.26%	11.03%	10.84%	11.58%	11.75%	12.3%	11.61%
	14.65%	14.6%	14.71%	14.55%	13.31%	12.99%	11.74%	12.21%	11.37%	11.13%	10.42%	10.76%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	3.88%	3.72%	3.61%	3.41%	3.5%	3.4%	3.88%	3.6%	3.7%	3.77%	3.93%	4.28%
No. of shareholders	—	—	—	—	—	—	—	—	2,99,709	3,05,964	3,14,887	3,12,071

Promoter holding up 0 percentage points since Sep 2023.

30 deals · 23 Sept 2021 – 14 Nov 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	1,44,525	₹1,073.95	₹15.52 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	1,44,525	₹1,073.95	₹15.52 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	1,44,526	₹1,060.55	₹15.33 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	1,44,526	₹1,060.55	₹15.33 Cr
25 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	1,34,757	₹1,035.35	₹13.95 Cr
25 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	1,34,757	₹1,035.35	₹13.95 Cr
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,11,750	₹1,015.10	₹21.49 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,11,750	₹1,015.10	₹21.49 Cr
11 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	1,55,295	₹1,052.50	₹16.34 Cr
11 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	1,55,295	₹1,052.50	₹16.34 Cr

1–10 of 30

1 / 3

Mr. GEORGE JACOB MUTHOOTExecutive Director-Chairperson related to Promoter
Mr. GEORGE ALEXANDER MUTHOOTExecutive Director
Oomen K MammenChief Financial Officer
Mr. GEORGE THOMAS MUTHOOTExecutive Director
Mr. ALEXANDER GEORGEExecutive Director
Mr. GEORGE ALEXANDERExecutive Director
Mr. GEORGE MUTHOOT JACOBExecutive Director
Mr. GEORGE MUTHOOT GEORGEExecutive Director
Mr. RAVINDRA PISHARODYNon-Executive - Independent Director
Mr. VADAKKAKARA ANTONY GEORGENon-Executive - Independent Director
Mr. ABRAHAM CHACKONon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹2,737.1 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹2,759.4	-12.5	-0.5%	₹2,759.4	24,569	+129	1,605	275
23 Nov 2026	₹2,780.1	-6	-0.2%	₹2,780.1	945	+11	35	275
29 Dec 2026	₹2,800.0	+22.5	+0.8%	₹2,780.3	3	+3	4	275

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 17 fund houses

Held by these funds

8.7%

of the company's equity

All mutual funds

9.51%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

99 schemes · 17 fund houses

		Shares
Focused Fund	SBI Mutual Fund	81.89 L	2,438.85	4.76%	2.04%	+11.89 L
Aggressive Hybrid FundNEW	SBI Mutual Fund	70 L	2,084.67	2.35%	1.743%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	28.6 L	851.77	4.23%	0.712%	+1.6 L
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	23.22 L	691.5	2.06%	0.578%	+3.43 L
Banking And Financial Services Fund	SBI Mutual Fund	14.92 L	444.42	4.09%	0.372%	+3.27 L
Smallcap Fund	SBI Mutual Fund	13 L	387.15	0.91%	0.324%	-0
VALUE FUND	Tata Mutual Fund	12.96 L	385.96	4.46%	0.323%	-0
ELSS Tax Saver Fund	SBI Mutual Fund	12.59 L	374.81	1.18%	0.313%	+3.27 L

1–8 of 99

1 / 13

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

25 announcementsExport CSV

1 Oct 2026, 6:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	76.2%	77.1%	80.3%	79.5%	76.8%	75.8%	72.6%	81.4%
EBIT margin %	76.2%	76.5%	79.7%	78.9%	76.1%	75.2%	72.1%	80.9%
PAT margin %	27.7%	32.7%	33.1%	33.1%	30.8%	29.7%	26.5%	34%
Working capital
Receivable days	1	0	0	0	—	—	—	—
Inventory days	—	—	—	—	0	0	0	0
Payable days	—	—	—	—	—	—	—	—
NWC days	—	—	—	—	—	—	—	—
Leverage
Current ratio	—	—	—	—	—	—	—	—
Debt to EBITDA	5.2	5.48	5.44	5.63	6.11	5.98	6.77	5.98
Debt to equity	3.03	3.46	3.24	2.9	2.57	2.72	3.38	3.88
Interest coverage	2.3	2.3	2.3	2.3	2.2	2.1	2	2.3
Asset turnover	0.18	0.18	0.17	0.16	0.15	0.16	0.15	0.16
Return ratios
Return on assets %	5%	5.8%	5.6%	5.3%	4.6%	4.6%	4%	5.4%
Return on capital employed %	—	—	—	—	—	—	—	—
Return on equity %	21.2%	26.8%	24.5%	21.5%	16.9%	17.8%	18.2%	27.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Shriram Finance LimitedSHRIRAMFINSHRIRAMFIN	₹1,77,811 Cr	₹4,28,503 Cr	₹49,997 Cr	₹36,981 Cr	73.7%	₹11,318 Cr	20.8%	—	16.4%	—
Tata Capital LimitedTATACAPTATACAP	₹1,35,540 Cr	₹3,71,517 Cr	₹32,695 Cr	₹24,219 Cr	73.2%	₹5,404 Cr	15.5%	—	13.3%	—
Cholamandalam Investment And Finance Company LimitedCHOLAFINCHOLAFIN	₹1,33,352 Cr	₹3,45,452 Cr	₹32,663 Cr	₹22,399 Cr	68.2%	₹5,751 Cr	16.8%	—	19.3%	—
Muthoot Finance LimitedMUTHOOTFINMUTHOOTFIN	₹1,08,289 Cr	₹2,60,075 Cr	₹33,431 Cr	₹27,558 Cr	81.4%	₹11,373 Cr	34%	—	30.9%	—
L&T Finance LimitedLTFLTF	₹66,238 Cr	₹1,76,126 Cr	₹18,928 Cr	₹11,603 Cr	61.1%	₹3,226 Cr	16.7%	—	11.2%	—
Sbi Cards And Payment Services LimitedSBICARDSBICARD	₹53,594 Cr	₹97,658 Cr	₹20,063 Cr	₹5,374 Cr	26.7%	₹2,275 Cr	10.9%	—	14.7%	—
Hdb Financial Services LimitedHDBFSHDBFS	₹51,335 Cr	₹1,38,733 Cr	₹16,300 Cr	₹9,318 Cr	57.2%	₹2,176 Cr	13.4%	—	14.7%	—
Sundaram Finance LimitedSUNDARMFINSUNDARMFIN	₹48,838 Cr	₹1,18,475 Cr	₹10,104 Cr	₹7,957 Cr	78.3%	₹2,220 Cr	21%	—	14.7%	—
Piramal Finance LimitedPIRAMALFINPIRAMALFIN	₹45,868 Cr	₹1,25,857 Cr	₹11,852 Cr	₹7,051 Cr	59.5%	₹1,504 Cr	12.7%	—	5.3%	—
Authum Investment & Infrastructure LimitedAIILAIIL	₹45,797 Cr	₹49,133 Cr	₹2,863 Cr	₹2,451 Cr	88.2%	₹3,582 Cr	74%	—	13.1%	—
Mahindra & Mahindra Financial Services LimitedM&MFINM&MFIN	₹44,445 Cr	₹1,72,816 Cr	₹21,733 Cr	₹13,785 Cr	62.5%	₹3,253 Cr	13.6%	—	11.9%	—
Poonawalla Fincorp LimitedPOONAWALLAPOONAWALLA	₹38,161 Cr	₹86,259 Cr	₹7,813 Cr	₹4,291 Cr	52.7%	₹787 Cr	8%	—	5.9%	—

8

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	2,400	₹0.0	0	0	0
0	0	0	₹0.0	2,500	₹0.0	0	0	0
0	0	0	₹0.0	2,600	₹0.0	0	0	0
0	0	0	₹0.0	2,700	₹0.0	0	0	0
0	0	0	₹0.0	2,800	₹0.0	0	0	0
0	0	0	₹0.0	2,900	₹0.0	0	0	0
0	0	0	₹0.0	3,000	₹0.0	0	0	0
0	0	0	₹0.0	3,200	₹0.0	0	0	0

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
1 Oct 2026, 6:34 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
9 Sept 2026, 6:03 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF
2 Sept 2026, 5:09 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
31 Aug 2026, 11:39 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
31 Aug 2026, 3:19 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting Held On August 31, 2026	PDF
18 Aug 2026, 5:56 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
11 Aug 2026, 2:49 pm	Company Update General	Intimation Under Regulation 30	PDF
8 Aug 2026, 12:56 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-87	-4,824	-4,975	-7,814	-1,373	-2,804	-13,754	-26,376	-47,393
	-194	-165	-392	40	422	181	-47	1,791	2,458
	-554	6,351	9,196	9,712	3,222	395	11,958	29,893	49,320
Net cash flow	—	1,362	3,830	1,938	2,271	-2,228	-1,844	5,307	4,385
Free cash flow	-114	-4,901	-5,068	-7,816	-1,470	-2,945	-13,976	-26,593	-47,545
CFO / Operating profit %	-1.7%	-83.3%	-66.6%	-84.4%	-14.2%	-30.7%	-120.5%	-179.6%	-186.7%

Muthoot Finance Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

Announcements

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

19

1

8

Compounded sales growth

Compounded profit growth

Return on equity

Muthoot Finance Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends19

Board meetings1

Option chain8

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

3

19

1

8