Muthoot Fincorp

Muthoot Finance diversifying loan book to make customers 'stick': MD

Firm will not sell gold loans to asset reconstruction companies as the RBI is 'not comfortable', says George Alexander Muthoot

What will be the impact of the RBI's cash disbursal limit on gold loan?

The push for increased transparency and reduced cash transactions aligns well with the RBI's objectives, promoting a more secure and compliant lending environment

Muthoot FinCorp plans to reduce the share of its gold loan business

During the last financial year, the company reported its highest-ever loan disbursements with consolidated disbursements at Rs 61,703.26 crore, up by 18.60 per cent

Muthoot FinCorp records highest-ever loan disbursement at Rs 61,703 cr

Muthoot FinCorp on Tuesday said it has recorded highest-ever loan disbursements in FY24 that rose 18.6 per cent to Rs 61,703.26 crore on a consolidated basis. The asset under management (AUM) stood at Rs 33,359.30 crore. The consolidated net profit rose 62 per cent to Rs 1,047.98 crore in FY24, Muthoot FinCorp said in a statement. "Muthoot FinCorp Ltd, the flagship company of 137-year-old Muthoot Pappachan Group, reports highest-ever loan disbursements in FY24 with consolidated disbursement at Rs 61,703.26 crore, up 18.60 per cent," the statement said. On a standalone basis, Muthoot FinCorp's disbursements rose 15 per cent year-on-year to Rs 50,167.12 crore from Rs 43,443.26 crore in the previous year. The profit after tax (PAT) increased 22.40 per cent to Rs 562.81 crore compared to Rs 459.81 crore in FY23. The Assets under Management (AUM) stood at Rs 21,349.85 crore, up 26.3 per cent compared to Rs 16,910.67 crore in the corresponding period of the previous year. Its revenue w

Muthoot Microfin's AUM rose 32% YoY in Q4, loan disbursement highest ever

The AUM in the March quarter soared to Rs 12,194 crore as compared to Rs 9,208 crore during the same period a year ago

SBI buys Rs 200 cr worth non-convertible debentures of Muthoot Fincorp

State Bank of India has purchased non convertible debentures (NCDs) worth Rs 200 crore issued by Muthoot Fincorp. The flagship company of 136-year-old Muthoot Pappachan Group on Tuesday said the debt issue has a five-year maturity with half-yearly being the frequency of the interest payment. However it didn't reveal the pricing of the issue. Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan. Muthoot Fincorp has over 3,600 branches across the country and offers gold loans, small business loans, auto loans, home loans and loans against property, among others.

Muthoot Microfin IPO to open on Dec 18 at price band of Rs 277-291

The funds are expected to augment the capital base of the company. Out of the total, the company plans to raise Rs 760 crore through the sale of fresh equity and Rs 200 crore via Offer for Sale

Muthoot FinCorp to raise up to Rs 400 cr via non-convertible debentures

Muthoot FinCorp on Monday announced raising up to Rs 400 crore through issuance of non-convertible debentures (NCDs). The issue is a part of the Rs 1,100 crore debt-raising plan approved by the board, a company statement said. The base size of the issue is Rs 100 crore with a green shoe option of Rs 300 crore, it said, adding the issue will close on September 14. The issue has tenure options of 24, 36, 60, and 96 months with monthly, annual, and cumulative payment options, offering an effective annual yield of 8.65-9.43 per cent. Thiruvananthapuram-based Muthoot FinCorp is the flagship company of the 136-year-old Muthoot Pappachan Group. It has over 3,600 branches across the country. Founded in 1887, the group is into financial services, hospitality, automotive retail, realty, IT Services, healthcare, precious metals, global services and alternate energy, serving over 1 million customers.

Muthoot Microfin to foray into Andhra Pradesh, Telangana in FY24

It is also expecting the disbursement too to touch Rs 11,000 crore during the year. In 2022-23, the company saw its disbursements increasing to Rs 8,104 crore, up from Rs 4,600 crore last year

Muthoot Microfin expects 25-30% growth in loan disbursals in FY23

The third largest microlender Muthoot Microfin expects to disburse 25-30 per cent more loans this fiscal, taking its assets to around Rs 12,000 crore. The Kerala-based firm, promoted by the diversified Muthoot Pappachen Group that's more known for its flagship gold loan business, closed FY23 with a loan book of Rs 9,209 crore and a likely net income of Rs 200 crore. In the pandemic-hit FY22, its loan book stood at Rs 6,300 crore from which it had earned Rs 79 crore of net income, chief executive Sadaf Sayeed told PTI. He attributed the massive loan book expansion to the low base in the pandemic hit year, and bases his optimism to maintain the momentum on the rising need for liquidity among its customers, even though the interest rates have risen. Given rising rates and the resultant higher spread, he expects a margin expansion and close the current fiscal with at least Rs 350 crore of profit. Sayeed said margin has improved from 10 per cent pre-May 2022 to over 12 per cent now. He

Airtel Payments Bank partners with Muthoot Finance to offer gold loans

Airtel Payments Bank on Thursday said it has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app. There will be no-processing charge on the loan and Muthoot Finance will provide up to 75 per cent of the pledged gold value as a loan, the payments bank said. "Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional. We are delighted to partner with Muthoot Finance to offer easy access to Gold Loans through Airtel Thanks App," Airtel Payments Bank chief operating officer Ganesh Ananthanarayanan said in a statement. The loan facility will also be available at the 5 lakh banking points for Airtel Payments Bank, it added. "The partnership will give access to secured and affordable credit to customers looking for quick liquidity against their gold assets. We are happy to serve an extensive range of customers across various geographies and ticket sizes," Muthoot Finance joint managing director Alexander George .

Gold financiers in a sweet spot: Muthoot, Manappuram can grow at 10-12% pa

The share price of Muthoot Fin has risen 31% over last year, but Manappuram underperformed with 9% return

Lender Muthoot Fincorp looks to close fiscal with 28% loan growth

Muthoot Fincorp is the flagship of the diversified Muthoot Pappachan Group

Gold loan company Muthoot Finance to raise upto Rs 2,000 cr via debentures

The Secured NCDs proposed to be issued under this Issue have been rated "AA" by CRISIL and "AA" by ICRA

Muthoot's loan book swells 32%; raises Rs 1,475 cr from liquidity measures

To meet the rising demand for loans, the Kerala-based firm is also tapping the just extended partial credit guarantee scheme (PCGS) to raise around Rs 600 crore more

NCDs provide interest income, but look at credit rating before investing

NCDs are debt instruments that can't be converted into equity or stocks. If you are someone who wants to get a piece of this pie, you need to choose the right one for you

Muthoot Fincorp expects 15-17% growth in assets management in current FY

Presently, Muthoot Fincorp has over 3,600 branches in India, with seventy percent in southern markets

Muthoot Finance pre-tax profit up 42% to Rs 1,116 cr, income rises 32%

Loan assets of the group grow by 13% to Rs 40,390 crore during first half of FY20

CRISIL downgrades rating of Muthoot Fincorp's debt

Rating agency CRISIL has downgraded ratings for Muthoot Fincorp Ltd's (MFL) debt instruments and bank facilities to 'A-', from 'A'

As gold regains sheen, Muthoot Fincorp eyes 25% jump in volume

Company aims to achieve gold loan disbursement of Rs 19,000 crore as against Rs 15,000 crore last year