Muthoot Microfin Ltd · NSE:MUTHOOTMF

Muthoot Microfin — Q4 FY2026 Earnings Presentation

38 slides from Muthoot Microfin's earnings presentation, May 6, 2026

  1. Slide 1: Cover letter to stock exchanges

    May 06, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, 5th Floor, 2nd Floor, New Trading Wing, Plot No. C/1, G Block, Rotunda Building, Bandra Kurla Complex, Bandra (E), P.J. Towers, Dalal Street, Mumbai 400001 Mumbai 400 051 Scrip Code:

  2. Slide 2: Investor Presentation

    Investor Presentation 1

  3. Slide 3: Disclaimer

    Disclaimer 2 By accessing this presentation, you agree to be bound by the following terms and conditions. This presentation (which may reflect some price-sensitive information in terms of SEBI regulations and Companies Act, 2013, as amended from time to time) has been prepared by Muthoot Microfin Li

  4. Slide 4: MPG - Legacy of 138+ years of history

    MPG - Legacy of 138+ years of history 3 Muthoot Pappachan Group (MPG) is a Well Diversified Business Conglomerate Our Promoters Automotive Other bussiness Hospitality Thomas Muthoot Chairman & Non-Executive Director, MML Real Estate Information Technology Infrastructure Thomas John Muthoot Chairman,

  5. Slide 5: Journey So Far

    Journey So Far 4 2026 • Strengthens Non-JLG portfolio. MSEL AUM crosses >23,000 Mn. • Secures ESG Score of 80.8 with CareEdge-ESG Rating 1+, the highest rating for an NBFC. 2025 • Secures e-KYC Licence to conduct Aadhaar enabled e-KYC for customer • Raised USD 128Mn via ECB. onboarding. • Entered Te

  6. Slide 6: Strong Corporate Governance and Support from Promoters & Investors

    Strong Corporate Governance and Support from Promoters & Investors 5 Shareholding as of 31st Mar’26 Promoter Group Directors Institutions Institutions Foreign, Thomas Muthoot Thomas George Muthoot Thomas Muthoot Domestic, 3.51% 0.05% Chairman & Non-Executive Non Executive Director Director John Exec

  7. Slide 7: Key Managerial Personnel

    Key Managerial Personnel 6 Employee Mix1 Field Monitors- Regional Office 311 Key Management Personnel and Senior Management Personnel Other departments 1,573 Head Office Field Monitors- 361 Operation team 418 Sadaf Sayeed Chief Executive Officer Exp: 25+ years, 15+ years with MPG Area Office Services: Mut

  8. Slide 8: Operational Highlights – Q4 FY'26

    Operational Highlights – Q4 FY’26 7 AUM (Mn) Disbursement (Mn) Branch* 1,40,056 28,767 1,670 Nos (13.3% YoY) (7.1% QoQ) (46.8% YoY) (15.4% QoQ) (-1.7% YoY) (-1.2% QoQ) Employees* Active Clients (Mn) CE (Overall) 15,735 3.27 96.43% (-1.6% YoY) (-1.9% QoQ) (-4.7% YoY) (-1.8% QoQ) (3.4% YoY) (1.6% QoQ)

  9. Slide 9: Financial Highlights – Q4 FY'26

    Financial Highlights – Q4 FY’26 8 Income (Mn) PPOP (Mn) PAT (Mn) INR 6,389 INR 1,928 INR 711 (14.9% YoY) (5.5% QoQ) (48.0% YoY) (10.0% QoQ) (117.7% YoY) (13.9% QoQ) NIM (%) Opex Ratio (%) Cost to Income Ratio (%) 12.0% 6.4% 53.2% (-25 bps YoY) (-14 bps QoQ) (-842 bps YoY) (-163 bps QoQ) (104 bps YoY

  10. Slide 10: Financial Highlights – FY'26

    Financial Highlights – FY’26 9 Income (Mn) PPOP (Mn) PAT (Mn) INR 23,807 INR 6,556 INR 1,703 (-7.2% YoY) (-24.4% YoY) (176.5% YoY) Equity (Mn) CAR (%) Debit-Equity INR 28,543 23.9% 3.34 (8.4% YoY) (-394 bps YoY) (11.1% YoY) COF (%) PCR (%) Non-JLG Share on AUM 10.27% (-75 bps YoY) Inc COF 71.5% 17.5

  11. Slide 11: Quality-Led Growth with Strengthened Portfolio Resilience & Stability

    Quality-Led Growth with Strengthened Portfolio Resilience & Stability 10 AUM (Mn) 13.3% YoY Disbursement (Mn) 46.8% YoY Clients (Mn) 4.7% YoY Client (Lks) Avg OS/Client ('000) 1,23,567 1,22,528 1,25,588 1,30,786 1,40,056 19,593 17,756 22,739 24,922 28,767 3.43 3.41 3.36 3.33 3.27 43 39 37 36 36 Q4 F

  12. Slide 12: Key Metrics

    Key Metrics 11 Branch Count RO Count Male Female AUM per Branch (Mn) 1,726 1 1,718 9,748 9,854 9,501 9,357 8,900 72.7 71.0 73.1 77.3 83.9 1,699 22 1,691 10 2 43 1,670 23 18 12 4 25 12 1 25 3 766 972 967 986 1045 1,726 1,718 1,699 1,651 8,982 8,882 8,534 8,371 7,855 1,691 Q4 FY’25 Q1 FY’26 Q2 FY’26 Q

  13. Slide 13: Strategic re-alignment through Diversification 1/2

    Strategic re-alignment through Diversification 1/2 12 Portfolio Concentration (Region-wise Trend) Number of Branches Per State 16% 16% 15% 15% 14% 390 Districts West 14% 14% 1,670 Branches 13% 13% 13% East 4 42 24% 24% 24% North 23% 23% 9 33 South 48% 48% 48% NORTH 48% 47% 57 145 11 Q4 FY’25 Q1 FY’2

  14. Slide 14: Strategic re-alignment through Diversification 2/2

    Strategic re-alignment through Diversification 2/2 13 Exposure of Districts (% of GLP) Core Market and New Products Top 1 3% Pan India AUM (Mn) Top 3 7% JLG & Others MSEL & MSME LAP Top 5 11% TN 26,944 Mn (75%) 8,911 Mn (25%) MSEL Share 17.0% Top 10 19% KL 16,321 Mn (81%) 3,790 Mn (19%) Other 81% GN

  15. Slide 15: Muthoot Small Enterprise Loan - Snapshot

    Muthoot Small Enterprise Loan - Snapshot 14 Portfolio - E-Nach & UPI Mandate Success Muthoot Small Mandate Enrollment rate with on-time 10% NACH bounce recoveries were largely FY’26 Enterprise Loan | CE payment Q4 FY’26 completed by T+3 and fully Disbursement by T+8, ensuring 100% E-Nach : 100% coll

  16. Slide 16: Muthoot Small Enterprise Loan - Performance Summary Q4 FY'26

    Muthoot Small Enterprise Loan - Performance Summary Q4 FY’26 15 NACH Collection Payment Status NACH Return reasons: 89.8% 99.2% 99.8% 99.9% 100% 98.9% Balance Insufficient 0.8% Account Closed/Transferred 0.2% A/c Blocked/Frozen On Time (T) T+1 T+2 T+3 T+8 0.03% Credit Limit Reached 90% of NACH payment

  17. Slide 17: Resilient Business Model – Proven over time

    Resilient Business Model – Proven over time 16 TN Floods & Heat wave, Flood & Election TN, BH, WB & Rain Impact in AUM GNPA PB Karza Mukti 2024 OD Floods & Northern & Western 2024 Fengal cyclone States 2024 1,40,056 1,25,185 1,24,049 1,25,588 1,30,786 1,21,935 1,22,103 1,23,567 1,22,528 1,08,671 92,

  18. Slide 18: Collection Efficiency

    Collection Efficiency 17 CE % 93.62% 93.97% 95.85% 95.24% 92.60% 93.00% 93.34% 94.80% 96.43% 90.68% FY'25 FY'26 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'26 Overall CE - X Bucket 99.51% 99.58% 99.91% 100.04% 99.05% 98.97% 98.96% 99.79% 99.80% 99.82% FY'25 FY'26 Q1 FY'25 Q2

  19. Slide 19: Collection Performance – Overdue

    Collection Performance – Overdue 18 DMS Performance (Collection incld. closures) FO Productivity (Mn) 705 624 578 0.19 0.18 486 457 0.16 0.15 418 417 393 0.15 283 238 177 128 123 115 103 42 40 39 37 31 FO (Mn) Agency (Mn) DME (Mn) overall Q4 FY'25 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'26 Q4 FY’25 Q1 FY’2

  20. Slide 20: Asset Quality 1/3

    Asset Quality 1/3 19 Loan Assets Particulars Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY26 Loan Assets ECL (%) ECL (%) Slab ECL (Gross) Opening ECL (A) 5,769.40 4,218.30 4,565.76 4,429.88 5,769.40 (Gross) (Q4 FY 26) (Q3 FY 26) (%) Additions (B) Stage 1 1,01,039.3 953.6 93.40% 0.94% 1.18% - Provisions as per ECL

  21. Slide 21: Asset Quality 2/3

    Asset Quality 2/3 20 GNPA, NNPA & Provision Coverage GNPA Ratio NNPA Ratio (Net of Stage III provision) Provision Coverage (Net of Stage III provision) 58.3% 59.9% 61.0% 66.6% 64.8% 58.7% 73.3% 68.5% 70.4% 70.5% 71.5% 54.9% 7.39% 6.26% 4.84% 4.85% 4.61% 4.40% 3.89% 3.22% 3.03% 2.97% 2.92% 2.70% 2.29

  22. Slide 22: Asset Quality 3/3

    Asset Quality 3/3 21 Client Distribution: MML maintains a controlled exposure in Borrowers % Portfolio % Lender Group the 'Own + 3 or more lenders' segment at 6.6%, Q4 FY-26 Q3 FY-26 Q2 FY-26 Q1 FY-26 Q4 FY-26 Q3 FY-26 Q2 FY-26 Q1 FY-26 demonstrating a continued strategic reduction of 1.2% over the

  23. Slide 23: Digitization driving Collections

    Digitization driving Collections 22 Customer App Installation (Cum. Mn)¹ Cumulative Digital Collection (Mn) 1.79 1.85 1.89 1.94 2.02 58,673 60,312 61,936 63,675 65,377 67,071 68,973 70,789 72,814 74,947 77,228 79,701 Q4 FY’25 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q4 FY’26 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep

  24. Slide 24: Guidance FY'27

    Guidance FY’27 Actual Guidance Particulars Commentary FY 26 Q4 FY 26 FY 27 Growth is expected to started coming. Expected to do improve full AUM -Growth 13.3% 28.4% 12%-15% year growth for FY 27 The NIM is on improving trend as weighted average yield to improve NIM 11.9% 12.0% 12.3%-12.5% further. Q

  25. Slide 25: P & L Statement

    P & L Statement 24 Financial Comparison Q4 FY 26 Q4 FY 25 YoY (%) Q3 FY 26 QoQ (%) FY 26 FY 25 YoY (%) Income Revenue from operations 6,318.1 5,550.3 13.83% 6,028.1 4.81% 23,695.7 25,616.9 -7.50% Other income 70.8 11.9 496.48% 25.4 178.50% 111.3 28.8 286.57% Total income 6,389.0 5,562.2 14.86% 6,053

  26. Slide 26: Robust Fiscal year performance in terms of Income/Profitability (1/2)

    Robust Fiscal year performance in terms of Income/Profitability (1/2) 25 Total Income (in Mns) PPOP (in Mns) 8,676 25,646 23,807 6,556 5,591 5,774 6,054 6,389 1,753 1,928 1,385 1,490 335 175 FY 25 FY 26 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 FY 25 FY 26 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 PAT (in Mns)

  27. Slide 27: Robust Fiscal year performance in terms of Income/Profitability (2/2)

    Robust Fiscal year performance in terms of Income/Profitability (2/2) 26 Cost Ratio’s Cost to Income 12.4% 12.0% 12.0% 11.9% 11.9% 60.9% 59.8% 11.5% 57.0% 54.8% 53.2% 9.4% 47.5% 6.7% 6.9% 7.0% 6.2% 6.5% 6.4% 4.3% 3.5% 3.6% 3.3% 2.8% FY 25 FY 26 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 Net Interest Margin

  28. Slide 28: Balance Sheet

    Balance Sheet 27 (Rs in Millions) Financial Assets Mar'26 Mar'25 Financial Liabilities Mar'26 Mar'25 Cash and cash equivalents 7,011.5 6,972.5 Derivative financial instruments - 76.9 Bank balances other than cash 4,396.2 4,725.2 Total outstanding dues of creditors 213.7 196.7 Trade receivables 253.6

  29. Slide 29: Balance Sheet Metric

    Balance Sheet Metric 28 Networth (in Mns) Debt/Equity 28,044 28,543 26,322 3.99 2,221 3.34 2.98 3.01 16,258 FY 23 FY 24 FY 25 FY 26 FY 23 FY 24 FY 25 FY 26 CRAR Cost of Borrowing 11.20% 29.0% 27.9% 11.02% 10.94% 23.9% 21.9% 10.27% Marginal CoF, 9.9% FY 23 FY 24 FY 25 FY 26 FY 23 FY 24 FY 25 FY 26

  30. Slide 30: Funding Profile

    Funding Profile 29 Liquidity-current Position (in Mns) Lender-wise Outstanding FY’26 17,282 SFB Domestic DFI 5% Foreign DFI 4% 4% 14,270 Retail Public Sector Banks 8% 20% 8,815 NBFC 6% Foreign Banks Private Sector Banks Liquid funds in hand DA/PTC Sanction Pending Term Funding Sanctions unutilised 4

  31. Slide 31: Liquidity – Static Liquidity Position

    Liquidity – Static Liquidity Position 30 Static ALM (in Mns) Maturity ALM (in Mns) 60,610 56,145 49,013 44,015 34,789 36,484 29,878 24,903 27,310 19,912 20,826 19,388 27,508 16,509 14,499 15,181 15,912 7,364 8,172 6,817 6,733 6,489 6,733 6,329 6,062 7,198 5,523 5,260 9,306 5,294 7,868 8,438 8,842 2,

  32. Slide 32: Robust Risk Management via use of Technology and expert human touch

    Robust Risk Management via use of Technology and expert human touch 31 Risk Management Framework Dedicated Credit Managers at all Efficient and Independent Internal Unique credit score developed along branches Audit & Compliance team Collections with Equifax Credit Managers supervised 1,893 by Area

  33. Slide 33: Internal Controls

    Internal Controls RO 32 Field Monitoring  Comprehensive Field Visit Policy.  Loan Appraisal  System driven field visit target setting & measurement  Aadhar based E-Signing  Liveliness  Mobile app-based visit recording with Geo-tagging.  In Application check list to certifying compliance.  GR

  34. Slide 34: Digital Eco - System

    Digital Eco - System 33 Suvidha Loan Client Web App Login Whatspp App CB Enquiry Credit UPI Score Run SMS Mandate Penny Drop Verification Tele Dynamic Verification BBPS QR Document E-Sign Bank AC Credit UPI BHIM Payments Voice Suvidha Disb Suvidha Note : Express loan processed from Inception: 5,116.

  35. Slide 35: Technology Interventions

    Technology Interventions 34 Customer Group Group Loan Sanction Centre Onboarding Training Confirmation & Disbursement Meeting Score card-based Nominee KYC System supported Multiple payment E-signing exposure Verification group evaluation channels Real time CB System supported Master Centre Digital a

  36. Slide 36: Past Five Years Track Record

    Past Five Years Track Record 35 AUM (Mn) Disbursements (Mn) Borrowers (Mn) CAGR 22% CAGR 19% CAGR 12% 1,40,056 1,06,616 3.43 3.35 3.27 1,21,935 1,23,567 88,725 94,184 81,045 2.77 92,083 2.05 62,550 46,470 FY-22 FY-23 FY-24 FY-25 FY-26 FY-22 FY-23 FY-24 FY-25 FY-26 FY-22 FY-23 FY-24 FY-25 FY-26 Branc

  37. Slide 37: Glossary

    Glossary 36 Particulars Definition Cost of Borrowing(%) Cost of borrowing represents annually weighted average interest cost on borrowings, weights being annual average borrowings. Borrowings include debt securities, subordinated liabilities, and borrowings (other than debt securities) Cost to Income

  38. Slide 38: Thank You

    About Muthoot Muthoot Pappachan Microfin Group Thank Mahila Mitra App 37

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