Financial Services · NSE: MUTHOOTFIN
Muthoot Finance
- M.Cap
- ₹1,17,747Cr₹1.18L Cr
- P/E
- 9.7×
- 1Y return
- −11.79%
- From 52W high
- −29.3%
Highlights are read by AI from the company's filing and can contain mistakes. Check the source page linked to each line.
Share price
Results Q2 FY27, as filed · consolidated · ₹ Cr
| Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ | |
|---|---|---|---|---|---|
| Revenue | 9,998 | 7,283 | +37.3% | 8,672 | +15.3% |
| PBTProfit before tax | 4,399 | 3,244 | +35.6% | 3,797 | +15.9% |
| Net profit | 3,247 | 2,421 | +34.1% | 2,799 | +16.0% |
| EPS (₹) | 80.87 | 60.30 | +34.1% | 69.72 | +16.0% |
From the company's own results filing on NSE. Net profit is the owners' share. Growth and the dotted lines are worked out from the filed figures.
In short
- 01Standalone loan AUM was Rs 1,878,103 Mn at Sep-26, up 42% YoY and 9% QoQ.
- 02Consolidated H1 FY27 profit after tax was Rs 61,028 Mn, up 39% YoY.
- 03Stage III assets rose to 3.87% of loan assets at Sep-26 from 2.28% at Jun-26; Stage II assets rose to Rs 234,667 Mn.
- 04Consolidated impairment charge for Q2 FY27 was Rs 5,933 Mn, up 389% QoQ.
- 05Standalone net interest margin was 11.93% in Q2 FY27 against 12.66% in Q2 FY26.
- 06Total borrowings were Rs 1,638,667 Mn, up 46% YoY; listed NCDs grew 72% YoY.
- 07Belstar Microfinance posted H1 FY27 profit of Rs 1,441 Mn against a loss of Rs 1,596 Mn a year earlier.
- 08Muthoot Money loan AUM was Rs 127,158 Mn in H1 FY27, against Rs 63,933 Mn in H1 FY26.
Segments
Gold Loan: Standalone gold loan AUM Rs 1,789,562 Mn at Sep-26, up 43% YoY and 10% QoQ
Slides · p. 29
Gold Loan: Standalone gold loan AUM Rs 1,789,562 Mn at Sep-26, up 43% YoY and 10% QoQ
“Sep-26 Jun-26 Mar-26 Sep-25 YoY(%) QoQ (%) Loan AUM 1,878,103 1,720,534 1,628,259 1,323,049 42 9 Break-up of Loan AUM Gold Loan AUM 1,789,562 1,632,985 1,540,843 1,249,175 43 10”
Muthoot Money Limited: Muthoot Money loan AUM Rs 127,158 Mn in H1 FY27 against Rs 63,933 Mn in H1 FY26
Slides · p. 46
Muthoot Money Limited: Muthoot Money loan AUM Rs 127,158 Mn in H1 FY27 against Rs 63,933 Mn in H1 FY26
“Loan AUM (₹) 127,158 63,933 127,158 105,503 97,943”
Muthoot Money Limited: Muthoot Money H1 FY27 profit after tax Rs 3,635 Mn against Rs 1,062 Mn
Slides · p. 46
Muthoot Money Limited: Muthoot Money H1 FY27 profit after tax Rs 3,635 Mn against Rs 1,062 Mn
“Profit After Tax (₹) 3,635 1,062 1,914 1,721 3,375”
Muthoot Money Limited: Muthoot Money stays focused on gold loans, expanding into underserved areas
Slides · p. 45
Muthoot Money Limited: Muthoot Money stays focused on gold loans, expanding into underserved areas
“Today, MML remains focused on its efficient gold loan franchise, expanding selectively into underserved geographies to avoid network overlap within the Group.”
Belstar Microfinance Limited: Belstar H1 FY27 profit after tax Rs 1,441 Mn against loss of Rs 1,596 Mn
Slides · p. 48
Belstar Microfinance Limited: Belstar H1 FY27 profit after tax Rs 1,441 Mn against loss of Rs 1,596 Mn
“Profit After Tax (₹) 1,441 (1,596) 780 661 247”
Demand
Organised gold loan market projected at Rs 16 lakh Cr for FY 2026, growing 33 to 36%
Slides · p. 17
Organised gold loan market projected at Rs 16 lakh Cr for FY 2026, growing 33 to 36%
“₹16 Lakh Cr Projected Size of the Organised Gold Loan Market (banks and NBFCs combined) for FY 2026, growing at 33 to 36% on-year over FY 2025’s ₹12 Lakh Cr*”
Micro-enterprises use gold loans for working capital needs
Slides · p. 18
Micro-enterprises use gold loans for working capital needs
“Rather than pledging in distress, micro-enterprises now intentionally use gold EMERGENCY CREDIT WORKING CAPITAL loans to fund inventory, expansion, and routine working capital needs.”
Demand growing in North, East and West, driving new branch expansion
Slides · p. 18
Demand growing in North, East and West, driving new branch expansion
“While the South still leads, changing perceptions and rising awareness are driving SOUTH-LED PAN-INDIA new branch expansions and growing demand in the North, East and West.”
Margins and costs
Standalone net interest margin 11.93% in Q2 FY27, 12.66% in Q2 FY26, 10.41% in Q1 FY27
Slides · p. 39
Standalone net interest margin 11.93% in Q2 FY27, 12.66% in Q2 FY26, 10.41% in Q1 FY27
“Net Interest Margin 12.75 11.45 11.23 11.38 13.03 11.16 12.41 11.93 12.66 10.41”
Standalone H1 FY27 finance cost Rs 65,105 Mn, up 46% YoY
Slides · p. 28
Standalone H1 FY27 finance cost Rs 65,105 Mn, up 46% YoY
“Finance Cost 65,105 44,318 46 33,646 31,459 7 23,126 99,410”
SG&A expenses 2.10% of average loan assets in Q2 FY27 against 2.72% in Q2 FY26
Slides · p. 39
SG&A expenses 2.10% of average loan assets in Q2 FY27 against 2.72% in Q2 FY26
“Selling, General and Administrative Expenses to 2.57 3.08 3.35 3.52 3.25 2.19 2.74 2.10 2.72 2.30 Avg. Loan Assets”
Debt and working capital
Total borrowings Rs 1,638,667 Mn, up 46% YoY and 10% QoQ
Slides · p. 34
Total borrowings Rs 1,638,667 Mn, up 46% YoY and 10% QoQ
“Total 1,638,667 1,491,606 1,385,166 1,120,085 46 10”
Listed secured NCDs Rs 553,817 Mn at Sep-26, up 72% YoY
Slides · p. 34
Listed secured NCDs Rs 553,817 Mn at Sep-26, up 72% YoY
“Sep-26 Jun-26 Mar-26 Sep-25 YoY (%) QoQ (%) Secured Non-Convertible Debentures-Listed 553,817 510,752 360,720 321,449 72 8”
External commercial borrowings via senior secured notes Rs 263,520 Mn, up 48% YoY
Slides · p. 34
External commercial borrowings via senior secured notes Rs 263,520 Mn, up 48% YoY
“External Commercial Borrowings - Senior Secured Notes 263,520 260,322 260,796 177,585 48 1”
Bank and FI borrowings Rs 752,834 Mn, up 35% YoY and 17% QoQ
Slides · p. 34
Bank and FI borrowings Rs 752,834 Mn, up 35% YoY and 17% QoQ
“Borrowings from Banks/FIs 752,834 646,058 677,134 556,303 35 17”
Ratings: CRISIL A1+ and AA+/Stable; S&P BB+/Stable
Slides · p. 34
Ratings: CRISIL A1+ and AA+/Stable; S&P BB+/Stable
“CRISIL RATINGS A1+ CRISIL RATINGS AA+ / Stable S&P GLOBAL RATINGS BB+ / Stable / B”
Acquisitions and new business
Belstar Microfinance Limited: Belstar Microfinance, 66.13% held, is diversifying into gold loans
Slides · p. 15
Belstar Microfinance Limited: Belstar Microfinance, 66.13% held, is diversifying into gold loans
“Microfinance through SHG model, diversifying into gold Belstar Microfinance Ltd. Microfinance (NBFC-MFI) 66.13%”
Dividends and buybacks
Dividend per equity share 300% at Rs 30
Slides · p. 10
Dividend per equity share 300% at Rs 30
“300% at ₹30 ₹137.67 ₹1,046.49 27.72% Dividend per Equity Share”
Risks
Consolidated Q2 FY27 impairment charge Rs 5,933 Mn, up 389% QoQ from Rs 1,213 Mn
Slides · p. 25
Consolidated Q2 FY27 impairment charge Rs 5,933 Mn, up 389% QoQ from Rs 1,213 Mn
“Impairment of Financial Instruments 7,146 5,731 25 5,933 1,213 389 2,618 10,262”
Stage II loan assets Rs 234,667 Mn at Sep-26 against Rs 18,764 Mn at Jun-26
Slides · p. 33
Stage II loan assets Rs 234,667 Mn at Sep-26 against Rs 18,764 Mn at Jun-26
“Sep-26 Jun-26 Mar-26 Sep-25 Stage I Loan Assets 1,570,758 1,662,505 1,579,396 1,287,935 Stage II Loan Assets 234,667 18,764 10,624 5,340”
Stage III assets 3.87% of loan assets, against 2.28% a quarter earlier
Slides · p. 33
Stage III assets 3.87% of loan assets, against 2.28% a quarter earlier
“% Stage III Assets on Loan Assets 3.87 2.28 2.35 2.25”
ECL provision 1.16% of loan assets, against 1.03% a quarter earlier
Slides · p. 33
ECL provision 1.16% of loan assets, against 1.03% a quarter earlier
“ECL Provision as % of Loan Assets 1.16% 1.03% 1.10% 1.21%”
Belstar Microfinance Limited: Belstar Stage III at 3.26% in H1 FY27 against 4.58% a year earlier
Slides · p. 48
Belstar Microfinance Limited: Belstar Stage III at 3.26% in H1 FY27 against 4.58% a year earlier
“% Stage III Assets on Gross Loan Assets 3.26 4.58 3.26 2.85 5.54”
Other
Standalone loan AUM Rs 1,878,103 Mn at Sep-26, up 42% YoY and 9% QoQ
Slides · p. 29
Standalone loan AUM Rs 1,878,103 Mn at Sep-26, up 42% YoY and 9% QoQ
“Sep-26 Jun-26 Mar-26 Sep-25 YoY(%) QoQ (%) Loan AUM 1,878,103 1,720,534 1,628,259 1,323,049 42 9”
Consolidated group loan AUM Rs 2,093,173 Mn, up 42% YoY
Slides · p. 20
Consolidated group loan AUM Rs 2,093,173 Mn, up 42% YoY
“Total 2,093,173 1,915,318 1,819,165 1,476,734 42”
Consolidated H1 FY27 profit after tax Rs 61,028 Mn, up 39%; Q2 Rs 32,780 Mn, up 18% QoQ
Slides · p. 25
Consolidated H1 FY27 profit after tax Rs 61,028 Mn, up 39%; Q2 Rs 32,780 Mn, up 18% QoQ
“Profit After Tax 61,028 43,859 39 32,780 28,248 18 24,117 106,068”
Standalone H1 FY27 profit after tax Rs 55,271 Mn, up 26% YoY; Q2 up 17% QoQ
Slides · p. 28
Standalone H1 FY27 profit after tax Rs 55,271 Mn, up 26% YoY; Q2 up 17% QoQ
“Profit After Tax 55,271 43,915 26 29,766 25,505 17 23,452 101,341”
Group branch network 7,904 at H1 FY27 against 7,524, up 5% YoY
Slides · p. 19
Group branch network 7,904 at H1 FY27 against 7,524, up 5% YoY
“Group Branch Network (Nos) 7,904 7,524 7,904 5 7,568”
Sources
- Investor presentation, Q2 FY27 Filed 31 Oct 2026 · 62 pages
Management's own statements, quoted from its NSE filings. This page was read by AI and can contain mistakes: check the source pages before relying on any figure. No forecast or opinion of ours. Not investment advice.