Key Metrics of Muthoot Fincorp
Revenue₹8,364 Cr▲ 50.7% YoYFY 2025-26
EBITDA—
Net profit₹1,640 Cr▲ 108.4% YoY
Net worth—
Competitors10identified
About Muthoot Fincorp
Sectors
Company details
- Website
- branches.muthootfincorp.com
- Registered office
- Muthoot Centre, Tc No 27/ 3022, Punnen Road, Thiruvananthapuram, Kl In, Trivandrum, In-kl, 695001
Operational Areas of Muthoot Fincorp
Banking & Financial Services›NBFC, Lending & Housing Finance
Company summary
Entity details
CINU65929KL1997PLC011518
LEI code335800CBWTUJAMOFVP96
State codeKL
PIN code695001
Current legal nameMUTHOOT FINCORP
Classification—
Listing statusUnlisted
Registration no.011518
Company age—
PAN—
CountryIndia
CityTrivandrum
StateKerala
Current statusActive
Date of incorporation—
Registrar of companies—
Authorised capital—
Paid-up capital—
Employee count—
Compliance
Last AGM date—
Last balance sheet—
Next filing dueAOC-4 for FY 2025-26 · 30 Oct 2026
Industry classification
NIC code65929
Description of main activityFinancial intermediation (banking, NBFC)
Description of business activityFinancial intermediation (banking, NBFC)
SectorBanking & Financial Services · NBFC, Lending & Housing Finance
Premium
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.
Sign in to continue See plans & pricingFiling compliance
AGM for FY 2025-2630 Sep 2026
Statutory due date passed
AOC-4 for FY 2025-2630 Oct 2026
Statutory due date · 0 days left
MGT-7 for FY 2025-2629 Nov 2026
Statutory due date · 30 days left
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
ICRA · 23 Oct 2026
ICRA AA+(SO)
Confirmed
CARE · 05 Oct 2026
CARE AA
Stable outlook · Assigned
Change in last 12 months▲ 5 notches
Change since first rating on record▲ 4 notchessince Nov 2016
Rating actions410 up · 0 down
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹48.2 Cr | View |
| 23 Oct 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹163 Cr | View |
| 19 Oct 2026 | ICRA | Confirmed | AAA(SO) | — | — | ₹64.2 Cr | View |
| 12 Oct 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹124 Cr | View |
| 08 Oct 2026 | ICRA | Assigned | AAA(SO) | — | — | ₹64.2 Cr | View |
| 06 Oct 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹44.6 Cr | View |
| 06 Oct 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹28.7 Cr | View |
| 06 Oct 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹83.5 Cr | View |
| 05 Oct 2026 | CARE | Assigned | AA | — | Stable | ₹2,800 Cr | View |
| 30 Sep 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹33.4 Cr | View |
| 28 Sep 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹84.4 Cr | View |
| 28 Sep 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹60.3 Cr | View |
| 08 Sep 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹57.3 Cr | View |
| 01 Sep 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹113 Cr | View |
| 31 Jul 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹40.8 Cr | View |
| 08 Jul 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹60.3 Cr | View |
| 02 Jul 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹163 Cr | View |
| 02 Jul 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹48.2 Cr | View |
| 24 Jun 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹116 Cr | View |
| 15 Jun 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹87.9 Cr | View |
| 04 Jun 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹24.7 Cr | View |
| 02 Jun 2026 | ICRA | Assigned | AA+(SO) | — | — | ₹124 Cr | View |
| 28 May 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹25.0 Cr | View |
| 28 May 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹91.9 Cr | View |
| 25 May 2026 | ICRA | Confirmed | AA+(SO) | — | — | ₹167 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Granular pool supported by availability of credit enhancement
The pool is granular, consisting of 6,391 obligors, with the top 10 obligors accounting for 0.5% of the pool principal as on the cut-off date, thereby reducing the exposure to any single borrower.
+ No overdue contracts in the pool
The pool has been filtered in such a manner that there were no overdue contracts as on the cut-off date.
+ Seasoned contracts in the pool
The pool has an average seasoning of ~5 monthly instalments on the cut-off date.
Credit challenges
− High geographical concentration
The pool has high geographical concentration with the top 3 states, viz.
− Risks associated with lending business
The pool’s performance would remain exposed to macro-economic shocks, business disruptions and natural calamities that may impact the income-generating capability of the borrowers and their ability to make timely repayments of their loans.
− Exposed to interest rate risk
The transaction is exposed to interest rate risk as the underlying pool has fixed rate loans while the yield on the PTCs is floating (linked to repo rate).
− Lower track record of originator
The originator has lower track record for servicing the loan accounts in the unsecured business loan segment.
Could lead to an upgrade
The sustained strong collection performance of the underlying pool of contracts (monthly collection efficiency >95%), leading to lower -than-expected delinquency levels, and an increase in the cover available for future investor payouts from the credit enha ncement would result in a rating upgrade.
Could lead to a downgrade
The sustained weak collection performance of the underlying pool (monthly collection efficiency <90%) , leading to higher-than-expected delinquency levels and higher credit enhancement utilisation levels, would result in a rating downgrade. Weakening in the credit profile of the servicer (Muthoot Fincorp) could also exert pressure on the rating.
Agency-reported financials (ICRA, 23 Oct 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹4,016 Cr | ₹5,551 Cr | ₹8,364 Cr |
| Profit after tax | ₹563 Cr | ₹787 Cr | ₹1,640 Cr |
| Total managed assets | ₹22,887 Cr | ₹33,563 Cr | ₹57,581 Cr |
| Gross NPA (%) | 1.6% | 2.0% | 1.0% |
| Capital to risk weighted assets ratio (%) | 20.0% | 19.5% | 18.0% |
| Revenue growth (YoY) | — | 38.2% | 50.7% |
| PAT margin | 14.0% | 14.2% | 19.6% |
Borrowings & rated debt
Rated borrowing limits (latest)₹2,800 Cr
Peak rated limits₹6,031 CrNov 2016 · CARE
Limits raised3 times32 new facilities rated
Weighted average coupon9.84%
Average remaining tenor6.6 years
Maturing in the next 12 months₹3.31 Cr
Next maturity20 Jun 2027₹3.31 Cr
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Subordinated debt | Subordinated debt | — | ₹1,200 Cr | — | AA (Stable) | Assigned | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹1,600 Cr | — | AA (Stable) | Assigned | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | Equity PTC | Securitisation (PTCs) | — | 06 Jul 2026 | 20 Jun 2027 | ₹3.31 Cr | AA-(SO) | Outstanding |
| — | — | Securitisation (PTCs) | 9.70% | 29 Jun 2026 | 22 Mar 2028 | ₹42.7 Cr | AA+(SO) | Outstanding |
| — | — | Other | — | 29 Jun 2026 | 22 Mar 2028 | ₹2.51 Cr | AA-(SO) | Outstanding |
| INE31A015014 | — | Securitisation (PTCs) | 8.75% | 08 Oct 2026 | 23 Jun 2029 | ₹38.5 Cr | AAA(SO) | Outstanding |
| — | — | Securitisation (PTCs) | 10.00% | 08 Oct 2026 | 23 Jun 2029 | ₹25.7 Cr | A+(SO) | Outstanding |
| INE549K07JO6 | — | Debentures & bonds | 9.60% | 25 Sep 2026 | 24 Oct 2031 | ₹220 Cr | AA | Outstanding |
| INE549K07JN8 | — | Debentures & bonds | 9.60% | 25 Sep 2026 | 25 Nov 2031 | ₹220 Cr | AA | Outstanding |
| INE549K08624 | Complex | Subordinated debt | 10.25% | 25 Jun 2026 | 24 Dec 2031 | ₹500 Cr | AA | Outstanding |
| INE549K08632 | Complex | Subordinated debt | 10.26% | 03 Jul 2026 | 31 Dec 2031 | ₹100 Cr | AA | Outstanding |
| INE549K08590 | Complex | Subordinated debt | 10.40% | 03 Jun 2026 | 30 Dec 2033 | ₹100 Cr | AA | Outstanding |
| INE549K08640 | Complex | Subordinated debt | 10.40% | 31 Aug 2026 | 31 Aug 2034 | ₹150 Cr | AA | Outstanding |
| — | Series A SN | Securitisation (PTCs) | 8.85% | 30 Jun 2026 | 18 Nov 2040 | ₹154 Cr | AA+(SO) | Outstanding |
| — | — | Other | — | 30 Jun 2026 | 18 Nov 2040 | ₹8.66 Cr | AA-(SO) | Outstanding |
| — | PTC Series A | Securitisation (PTCs) | 8.70% | 24 Jun 2026 | 25 Apr 2041 | ₹79.9 Cr | AA+(SO) | Outstanding |
| — | — | Securitisation (PTCs) | — | 24 Jun 2026 | 25 Apr 2041 | ₹4.49 Cr | AA-(SO) | Outstanding |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Cash Credit | — | Withdrawn |
| Commercial Paper | — | Withdrawn |
| Non Convertible Debentures | ₹1,600 Cr | CARE AA; Stable |
| Subordinate Debt | ₹1,200 Cr | CARE AA; Stable |
| Term Loan | — | Withdrawn |
| Working Capital Limits | — | Withdrawn |
Credit assessment · Non-banking finance companies
Rating Methodology – Non-Banking Finance Companies (Feb 2025) · Standalone accounts · FY 2025-26
Indicative long-term—
Indicative short-term—
Score—
LiquidityNot assessableAgency: Strong
DirectionStable
ICRA rating · Oct 2026AA+(SO)3 notches above indicative
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| Series A1 SN | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Series A SN | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Securitisation (PTCs) | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| PTC Series A1a | Securitisation (PTC) | AAA ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Dexter Trust PTC Series A1b | Securitisation (PTC) | A+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Ganymede PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| PTC Series A | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Alpha Equity PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Delta Equity PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| SN Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Subordinated debt | Subordinated debt | AA CARE | AA+1 notch lower than criteria | senior − 0 |
| Complex | Subordinated debt | AA CARE | AA+1 notch lower than criteria | senior − 0 |
| SHADOW TRUST Equity Tranche PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Galactic Equity Tranche PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| SEED MUUBL June Equity PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Equity PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| RAVEN TRUST Equity Tranche PTC | Securitisation (PTC) | AA- ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Tensor SN Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Delta PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Vector PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Lambda PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Matrix PTC Series A | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Impulse PTC Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Momentum SN Series A1 | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | AA+(SO) · Structured obligation (internal) (ICRA, Oct 2026) |
| Next action stable or better (model) | 68% |
| Information on file | 56% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
Can it borrow more?Further funding possible with conditions
Next rating action stable or better: 68% (Mostly stable) · ML model on 4072 rating histories, AUC 0.666
Rated limits₹48.17 Cr
Not yet allocated—
Extra debt within 3.5× EBITDA—
Interest coverage—
Limit utilisation—
Open bank charges0 · —
- Credit outlook model: 68% chance the next rating action is stable or better
- Current rating AA+(SO) (investment grade)
Rated limits by facility
Timeline
05 Oct 2026
Cash & liquid funds ₹2,141 cr
CARE rationale
From the report
The company had cash and bank balances of ₹2,141 crore as on June 30, 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
Registered officeMUTHOOT CENTRE, TC NO 27/ 3022, PUNNEN ROAD, THIRUVANANTHAPURAM, KL IN, TRIVANDRUM, IN-KL, 695001
GSTIN—
Email—
Websitehttps://branches.muthootfincorp.com
Members / shareholders—
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Muthoot Fincorp
Competitors10identified
Locations6most in India
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Bajaj Finserv |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | 2007 | Pune, India |
 Power Finance Corporation |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | pfc.gov.in | 1986 | New Delhi, India |
| Bajaj Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | bajajfinserv.in | — | Pune, India |
 REC Limited |
Maharatna & Navratna PSUs · Public Sector (PSU) & Government | recindia.nic.in | 1997 | New Delhi, India |
 Shri Ram Finance Corporation Private Limited |
NBFC, Lending & Housing Finance · Finance | shriramfinance.in | — | Raipur, Chhattisgarh, India |
 Aditya Birla Capital Limited |
General Insurance · Insurance | adityabirlacapital.com | — | Gujarat, India |
| Cholamandalam Financial Holdings Limited | · Finance | — | — | Chennai, Tamil Nadu, India |
 Muthoot Finance |
Fintech, Broking & Market Infrastructure · Banking & Financial Services | muthootfinance.com | — | Ernakulam, India |
| NBFC, Lending & Housing Finance · Banking & Financial Services | irfc.co.in | — | Delhi, India | |
| Abans Financial Services Limited | Fintech, Broking & Market Infrastructure · Banking & Financial Services | — | — | Mumbai, Maharashtra, India |
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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
financial
Filings
No filings on record yet.