Key Metrics of Muthoot Finance
About Muthoot Finance
Sectors
Company details
- Website
- muthootfinance.com
- Registered office
- Nh Bypass, Palarivattom, Ernakulam, In-kl, 682028
- Listed
- NSE: MUTHOOTFIN · ₹2,408.60
Operational Areas of Muthoot Finance
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 11 Jun 2026 | ICRA | Other | AA+ | A1+ | Stable | ₹1,58,082 Cr | View |
| 13 May 2026 | ICRA | Reaffirmed | AA+ | A1+ | Stable | ₹1,58,082 Cr | View |
Credit strengths (ICRA, May 2026)
+ Established franchise and leadership position in gold loan segment
MFL has a track record of more than two decades in the gold loan business and is India’s largest gold loan-focussed non-banking financial company (NBFC), with a total standalone portfolio of Rs. 1,47,552 crore (of which 95% is gold loans) as of December 2025.
+ Healthy earnings performance in 9M FY2026
The company’s consolidated net profitability (profit after tax/average managed assets; PAT/AMA) improved to 6.1% in 9M FY2026 after declining to 4.5% in FY2025 from 4.9% in FY2024.
+ Capitalisation to remain comfortable over the medium term
MFL has a comfortable capitalisation profile, with a standalone gearing of 3.7 times as of December 2025 and 3.2 times as of March 2025 (2.4 times as of March 2024), aided by strong internal accruals.
Credit challenges
− Performance of non-gold segments remains monitorable, though sizeable share of gold loans would support overall portfolio
MFL’s standalone loan portfolio predominantly comprises gold loans (95%), with the remainder largely consisting of unsecured loans in the form of personal loans, business loans and loans to subsidiaries.
− Operations concentrated in South India
MFL’s operations are largely concentrated in South India, which constituted 57% of its total branch network and 49% of its total loan portfolio as of December 2025.
Could lead to an upgrade
Maintaining comfortable asset quality and capitalisation over the medium -to-long term will be a positive rating factor. Consistently good performance in the non-gold loan segments and improvement in geographical diversification would also have a positive impact on the long-term rating.
Could lead to a downgrade
An increase in the share of the unsecured asset segment to more than 15% or significant weakening in the asset quality, thereby impacting earnings, would have a negative impact. A rise in MFL’s consolidated gearing beyond 4.5 times on a sustained basis would also negatively impact the ratings.
Agency-reported financials (ICRA, 11 Jun 2026)
| Metric | FY2025 | 9M FY2026 | FY2025 | 9M FY2026 |
|---|---|---|---|---|
| Total income | ₹17,156 Cr | ₹19,444 Cr | ₹20,325 Cr | ₹22,057 Cr |
| Profit after tax | ₹5,201 Cr | ₹7,048 Cr | ₹5,352 Cr | ₹7,209 Cr |
| Total managed assets | ₹1,22,822 Cr | ₹1,67,211 Cr | ₹1,36,149 Cr | ₹1,84,046 Cr |
| Return on managed assets | 5.0% | 6.5% | 4.5% | 6.1% |
| Managed gearing (times)^ | 3.20× | 3.70× | 3.40× | 3.90× |
| Gross stage | 3.4% | 1.6% | — | — |
| CRAR | 23.7% | 20.3% | — | — |
| PAT margin | 30.3% | 36.2% | 26.3% | 32.7% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Non-convertible debenture programme outstanding (public placement) | Debentures & bonds | ₹7,402 Cr | ₹7,402 Cr | 0.0% | AA+ (Stable) | Other | ICRA |
| Non-convertible debenture programme outstanding | Debentures & bonds | ₹55,165 Cr | ₹55,165 Cr | 0.0% | AA+ (Stable) | Other | ICRA |
| Long term/Short term – Fund-based Non-85,515.00 85,515.00 fund based bank facilities outstanding Subordinated debt programme outstanding | Subordinated debt | ₹1,000 Cr | ₹1,000 Cr | 0.0% | AA+ / A1+ (Stable) | Other | ICRA |
| Commercial paper programme outstanding | Commercial paper | ₹9,000 Cr | ₹9,000 Cr | 0.0% | A1+ | Other | ICRA |
Credit assessment · Non-banking finance companies
Rating Methodology – Non-Banking Finance Companies (Feb 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| Long term/Short term – Fund-based Non-85,515.00 85,515.00 fund based bank facili | Subordinated debt | AA+ ICRA | AA+ | senior − 0 |
| Long term/Short term – Fund-based 70,515.00 85,515.00 Non-fund based bank facili | Subordinated debt | AA+ ICRA | AA+ | senior − 0 |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 52% |
| Information on file | 67% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 52% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
Rated limits by facility
Timeline
From the report
MFL had a strong liquidity position with cash and cash equivalents of Rs. 18,135 crore as on June 03, 2026, which was comfortable to meet the scheduled debt servicing obligations for the said ISIN.
From the report
It had cash and liquid investments of Rs. 11,887 crore and undrawn bank lines of Rs. 549 crore as of March 2026, with a repayment obligation (excluding interest) of Rs. 14,751 crore between April and June 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Muthoot Finance
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 HDFC Bank |
Outlets operated by HDFC Bank. | hdfc.bank.in | 1994 | India |
 ICICI Bank |
Outlets operated by ICICI Bank. | icici.bank.in | — | India |
 State Bank of India |
Outlets operated by State Bank of India. | sbi.bank.in | 1955 | India |
| Outlets operated by Bank of Baroda. | bankofbaroda.bank.in | 1908 | India | |
 Axis Bank |
Outlets operated by Axis Bank. | axis.bank.in | 1990 | Ahmedabad, India |
 Punjab National Bank |
Outlets operated by punjab national bank. | pnb.bank.in | 1894 | India |
 Canara Bank |
Outlets operated by Canara Bank. | canarabank.com | 1906 | Mumbai, India |
 Union Bank of India |
Outlets operated by Union Bank of India. | unionbankofindia.bank.in | 1919 | India |
| Outlets operated by Bank of India. | bankofindia.bank.in | 1906 | Mumbai, India | |
| Outlets operated by Kotak Mahindra Bank. | kotak.bank.in | 1985 | Mumbai, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
company
Filings
No filings on record yet.