Muthoot Finance Ltd · NSE:MUTHOOTFIN
Muthoot Finance — Q3 FY2026 Earnings Presentation
92 slides from Muthoot Finance's earnings presentation, December 2025
Slide 1: Financial Results Q3 FY 2026
Where Trust is a Tradition Financial Results Q3 FY 2026 December 2025
Slide 2: Safe Harbour Statement
SAFE HARBOUR STATEMENT This presentation may include statements, which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position,
Slide 3: The Group
THE GROUP Diversified business of the Group Shareholding of holding Primary Business company (%) Muthoot Finance Limited Gold Loans Holding Company Muthoot Homefin (India) Limited Affordable Housing Finance 100.00 Belstar Microfinance Limited Microfinance 66.13 Muthoot Money Limited Gold Loans 100.0
Slide 4: Market Capitalisation and Consolidated Loan AUM Cross ₹1.5 Trillion
MARKET CAPITALISATION CROSSES ₹ 1.5 TRILLION CONSOLIDATED LOAN AUM CROSSES GOLDEN MILESTONE OF ₹ 1.5 TRILLION 3
Slide 5: Performance highlights for the 9 months ended Dec 31, 2025
Performance highlights for the 9 months ended Dec 31, 2025 Highest Ever Consolidated Loan AUM: 48% YoY increase at ₹ 1,64,720 Crores Highest Ever Consolidated Profit After Tax in 9 Months of any year: 84% YoY increase at ₹ 7,209 Crores Highest Ever Standalone Loan AUM: 51% YoY increase at ₹ 1,47,552
Slide 6: Performance highlights for the 9 months ended Dec 31, 2025
Performance highlights for the 9 months ended Dec 31, 2025 Highest Ever Average Gold Loan AUM per Branch : ₹ 28.10 Crores Gold Loan Disbursement to New Customers during 9 Months : 32% YoY increase at ₹ 20,737 Crores to 13,13,710 customers Value of Gold Content in Jewellery held as security in our lo
Slide 7: Consolidated Loan AUM 1,64,720 Crores
CONSOLIDATED LOAN AUM AS ON DEC 31, 2025 1,64,720 Crores HIGHEST EVER CONSOLIDATED LOAN AUM AS ON DEC 31, 2024 48% YoY INCREASE AT 1,11,308 Crores 1,64,720 Crores 6
Slide 8: Consolidated Profit After Tax 7,209 Crores
CONSOLIDATED PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2025 7,209 Crores HIGHEST EVER CONSOLIDATED PROFIT AFTER TAX IN 9 MONTHS OF ANY YEAR 9 MONTHS ENDED DEC 31, 2024 84% YoY INCREASE AT 3,908 Crores 7,209 Crores 7
Slide 9: Standalone Loan AUM 1,47,552 Crores
STANDALONE LOAN AUM AS ON DEC 31, 2025 1,47,552 Crores HIGHEST EVER STANDALONE LOAN AUM AS ON DEC 31, 2024 51% YoY INCREASE AT 97,487 Crores 1,47,552 Crores 8
Slide 10: Gold Loan AUM 1,39,658 Crores
GOLD LOAN AUM AS ON DEC 31, 2025 1,39,658 Crores HIGHEST EVER GOLD LOAN AUM AS ON DEC 31, 2024 50% YoY INCREASE AT 92,964 Crores 1,39,658 Crores 9
Slide 11: Standalone Profit After Tax 7,048 Crores
STANDALONE PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2025 7,048 Crores HIGHEST EVER STANDALONE PROFIT AFTER TAX IN 9 MONTHS OF ANY YEAR 9 MONTHS ENDED DEC 31, 2024 91% YoY INCREASE AT 3,693 Crores 7,048 Crores 10
Slide 12: Average Gold Loan AUM per Branch 28.10 Crores
AVERAGE GOLD LOAN AUM PER BRANCH AS ON DEC 31, 2025 28.10 Crores HIGHEST EVER AVERAGE GOLD LOAN AS ON DEC 31, 2024 AUM PER BRANCH 19.15 Crores 28.10 Crores 11
Slide 13: Gold Loan Disbursement to New Customers
GOLD LOAN DISBURSEMENT TO NEW CUSTOMERS 9 MONTHS ENDED DEC 31, 2025 20,737 Crores 32% YoY INCREASE IN GOLD LOAN DISBURSEMENT TO NEW CUSTOMERS 9 MONTHS ENDED DEC 31, 2024 15,723 Crores 20,737 Crores to 13,13,710 Customers 12
Slide 14: Value of Gold Content in Jewellery Held as Security
VALUE OF GOLD CONTENT IN JEWELLERY HELD AS SECURITY AS ON DEC 31, 2025 2501 Billion VALUE OF GOLD CONTENT IN JEWELLERY HELD AS AS ON DEC 31, 2024 SECURITY IN OUR LOCKERS 1409 Billion 205 Tonnes valued at ₹ 2,501 Billion 13
Slide 15: The Group: Snapshot of performance
THE GROUP Snapshot of performance YoY 9M FY 2026 9M FY 2025 H1 FY 2026 Q1 FY 2026 FY 2025 (%) Group Branch Network (Nos) 7,541 7,340 3 7,524 7,413 7,391 Consolidated Loan Assets Under Management* of 1,647,198 1,113,078 48 1,476,734 1,339,383 1,221,809 the Group (₹ in millions) Consolidated Profit af
Slide 16: The Group: Loan Assets Under Management
THE GROUP Loan Assets Under Management* of the Group (₹ in millions) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 YoY (%) Muthoot Finance Limited 1,475,524 1,323,049 1,200,310 1,086,478 974,872 51 Muthoot Homefin (India) Limited 33,802 32,465 30,961 29,846 27,196 24 Belstar Microfinance Limited 79,106 77,145
Slide 17: Standalone Profit of Group Companies
THE GROUP Standalone Profit of Group Companies (₹ in millions) 9M FY 2026 9M FY 2025 Q3 FY 2026 Q3 FY 2025 Q2 FY 2026 Q1 FY 2026 FY 2025 Muthoot Finance Limited 70,479 36,929 26,564 13,631 23,452 20,463 52,008 Muthoot Homefin (India) Limited 193 267 89 94 84 20 395 Muthoot Insurance Brokers Private
Slide 18: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (₹ in millions) Particulars Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 ASSETS Financial assets Cash and cash equivalents 106,071 79,668 114,641 81,671 51,764 Bank Balance other than above 1,983 1,538 1,923 1,789 1,531 Derivative Financial Instruments 4,470 3,
Slide 19: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (₹ in millions) Particulars Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 LIABILITIES Financial Liabilities Derivative Financial Instruments - 2 1,311 939 - Trade Payables 1,465 1,596 1,212 1,371 1,335 Other Payables 1,698 1,813 1,563 1,617 908 Debt Securities 3
Slide 20: Consolidated Financial Results
Consolidated Financial Results (₹ in millions) 9M FY 9M FY YoY Q3 FY Q3 FY YoY Q2 FY Q1 FY Particulars FY 2025 2026 2025 (%) 2026 2025 (%) 2026 2026 Income Interest Income 213,623 141,971 50 79,829 50,673 58 70,913 62,880 196,629 Service Charges 2,811 2,133 32 1,046 592 77 927 838 3,035 Sale of Serv
Slide 21: Muthoot Finance: Driving Inclusive Growth
MUTHOOT FINANCE: DRIVING INCLUSIVE GROWTH o India’s largest gold financing company (by loan portfolio) o Trusted pan-India brand in the gold loans sector; revolutionised India’s gold banking o Our intervention has empowered millions of people across the social pyramid Multiple service offerings CORE
Slide 22: MFIN - A Glimpse
MFIN - A GLIMPSE 29 205 tonnes States/Union territory presence Gold jewellery kept as security 4,950+ 100,000+ Pan-India branches Retail investor base across debenture and subordinated debt portfolio 31,500+ 200,000+ Team members Customers served every day ₹ 1,476 billion Loan Assets Under Managemen
Slide 23: Shareholding Pattern
SHAREHOLDING PATTERN Strong promoter interest in business with 73% stake NSE Ticker 23.43 3.22 MUTHOOTFIN (%) Shareholding as on December 31, 2025 BSE Ticker 533398 Promoter & Promoter group FII, FC, MF & Others Market Capitalisation (as on December 31, 2025) Public ₹ 1,530,277 million 73.35 22
Slide 24: Board of Directors – Promoter Group
BOARD OF DIRECTORS – PROMOTER GROUP (1/2) George Jacob Muthoot George Alexander Muthoot George Thomas Muthoot Alexander George Chairman Managing Director Whole-time Director Whole-time Director George M George George M Jacob George Alexander Whole-time Director Whole-time Director Whole-time Directo
Slide 25: Board of Directors – Independent Directors
BOARD OF DIRECTORS – INDEPENDENT DIRECTORS (2/2) K V Eapen Ravindra Pisharody V. A. George Joseph Korah Independent Director Independent Director Independent Director Independent Director Usha Sunny Abraham Chacko C A Mohan George Joseph Independent Director Independent Director Independent Director
Slide 26: Dividend Payout
DIVIDEND PAYOUT Delivering consistent returns to stakeholders (%) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 FY 2018 FY 2017 Dividend (% )* 260 240 220 200 200 150 120 100 60 Dividend payout (₹ in millions) 10,438 9,635 8,832 8,027 8,024 7,249 5,796 4,813 2,885 Dividend Payout Ratio (%)
Slide 27: Geographical Presence
GEOGRAPHICAL PRESENCE A strong presence of 4970 branches across India (%) Branches region wise State wise Branch Network Jammu & Kashmir 17 8 Himachal Pradesh 57 Punjab 13 Chandigarh 199 Uttarakhand 10 East West Haryana 26 142 Delhi 230 North South Rajasthan Uttar Pradesh Assam 18 150 203 Bihar 41 (
Slide 28: Digital Initiatives
DIGITAL INITIATIVES Digital convenience for new gen & Millennium Customer acquisition Direct Credit Facility PoS Terminals • Loan proceeds credited to customers • Enables QR Code Scan with bank account UPI and Net Banking • NEFT/RTGS/IMPS/INTRA mode of bank transfer • Instant credit to customer bank
Slide 29: Digital Initiatives
DIGITAL INITIATIVES iMuthoot Mobile App • Launched in Nov’16 has about 22.8 Million downloads, with 5.5 Million registered users with a YoY growth of 85% • Simplified registration and login process for new users • Online Gold Loan (OGL) facility available to withdraw loan amount and renewal, apart f
Slide 30: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (₹ in millions) Particulars Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 ASSETS Financial assets Cash and cash equivalents 93,961 69,097 102,031 71,705 43,456 Bank Balance other than above 126 127 87 208 231 Derivative Financial Instruments 4,461 3,282 - - 839 Tr
Slide 31: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (₹ in millions) Particulars Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 LIABILITIES Financial Liabilities Derivative Financial Instruments - - 1,311 939 - Trade Payables 1,153 1,418 1,036 1,153 1,246 Other Payables 1,342 1,442 1,175 1,279 760 Debt Securities 375
Slide 32: Revenue & Profit
REVENUE & PROFIT Standalone Financial Results (₹ in millions) YoY YoY Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 2026 9M FY 2025 Growth Growth FY 2025 2026 2025 2026 2026 (%) (%) INCOME Interest Income 190,105 120,935 57 71,138 43,690 63 63,044 55,923 168,770 Other than Interest Income 4,333 1,740 149 1,492 622
Slide 33: Equity
EQUITY Strong Capital Base Networth (₹ in millions) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Equity Share Capital 4,015 4,015 4,015 4,015 4,015 Other Equity 341,009 314,419 290,556 280,361 265,996 Total 345,024 318,434 294,571 284,376 270,011 32
Slide 34: Assets
ASSETS Core focus continues to be gold loan Loan Assets under management* (₹ in millions) YoY QoQ Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Growth Growth (%) (%) Loan assets under 1,475,524 1,323,049 1,200,310 1,086,478 974,872 51 12 management Break-up of Loan Assets under management Gold Loans under 1,39
Slide 35: Liabilities
LIABILITIES Stable sources of funding* (₹ in millions) YoY QoQ Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Growth Growth (%) (%) Secured Non-Convertible Debentures- 375,645 321,449 313,249 235,516 204,511 84 17 Listed Borrowings from Banks/FIs 623,103 556,303 521,410 476,060 437,989 42 12 External Commercial
Slide 36: Gold Loan Portfolio
GOLD LOAN PORTFOLIO Gaining scale over the years Gold Loan Assets Under Management* (₹ in billions) 1500 1400 1,397 1300 1,249 1200 1,132 1100 1,030 1000 930 900 800 729 700 575 619 600 519 500 408 400 336 272 288 300 243 233 200 100 0 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 M
Slide 37: Gold Holding
GOLD HOLDING Carrying the trust of millions of our customers Gold jewellery kept as security (In tonnes) 250 209 209 205 202 208 200 188 187 176 180 169 171 149 155 142 150 100 50 0 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 36
Slide 38: Geographical Spread of Gold Loan Portfolio
GEOGRAPHICAL SPREAD OF GOLD LOAN PORTFOLIO Diversified gold loan portfolio across India (%) 100 80 60 40 20 0 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Mar-25 Jun-25 Sep -25 Dec-25 East 6 7 7 8 8 9 9 9 10 10 10 10 10 10 10 West 15 17 18 19 20 19 19 19 19 19 20 19 1
Slide 39: Productivity
PRODUCTIVITY Widening presence with increasing gold loan business per branch Average Gold Loan Per Branch * (₹ in millions) 300 281 260 252 232 212 220 192 180 150 140 131 125 112 100 89 75 57 63 67 55 60 20 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Mar-25 Jun-25 S
Slide 40: Highly Liquid Portfolio
HIGHLY LIQUID PORTFOLIO Disbursements and Collections (₹ in billions) 684 635 527 487 414 380 338 304 245 242 219 219 151 123 119 138 129 133 104 94 81 75 88 84 48 45 55 54 61 58 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Avg Monthly Disbursement
Slide 41: Safety of Our Gold Loan Portfolio
SAFETY OF OUR GOLD LOAN PORTFOLIO Lender’s Perspective & Borrower’s Perspective Dec- Sep- Jun- Mar- Dec- Mar- Mar- Mar- Mar- Mar- Mar- Mar- 25 25 25 25 24 24 23 22 21 20 19 18 Gold Loan assets (₹ in Billions) 1,397 1,249 1,132 1,030 930 729 619 575 519 407 336 288 Quantity of Gold content in Ornamen
Slide 42: Customer Base
CUSTOMER BASE Highly churning customer base (1/2) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Gold Loan AUM 1,397 1,249 1,132 1,030 930 862 809 729 (₹ in Billions) QoQ % change 12 10 10 11 8 6 11 5 No. of Loan Accounts 10.65 10.66 10.46 10.23 9.99 9.72 9.18 8.74 (in Millions) QoQ % chang
Slide 43: Customer Base
CUSTOMER BASE Highly churning customer base (2/2) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Above Gold Loan AUM and No. of customers includes: Fresh loans to inactive customers during the quarter in Gold Loan AUM No. of customers 390,732 411,376 410,303 397,150 372,566 443,335 463,390
Slide 44: Yield on Loan Assets and NIM
YIELD ON LOAN ASSETS AND NIM Yearly (%) Quarterly (%) 26.00 26.00 24.00 23.03 22.21 22.17 24.00 21.43 21.23 22.00 22.00 19.31 19.72 20.06 19.99 20.34 19.94 20.00 20.00 19.56 17.7 17.94 18.49 18.62 18.54 18.00 18.00 15.29 15.53 16.00 16.00 14.2 14.24 14.00 13.03 14.00 12.74 12.77 12.66 12.51 12.15 11
Slide 45: Interest Spread
INTEREST SPREAD Yearly (%) Quarterly (%) 26.00 26.00 24.00 23.03 24.00 21.43 22.21 21.23 22.17 22.00 22.00 19.31 19.72 20.34 19.99 20.00 20.06 20.00 19.56 19.94 17.94 18.49 18.62 18.54 17.7 18.00 18.00 16.00 16.00 14.04 13.45 13.49 14.00 14.00 12.23 10.93 10.8 11.99 12.00 11.50 11.21 12.00 11.09 10.
Slide 46: Return on Average Loan Assets
RETURN ON AVERAGE LOAN ASSETS Attractive returns over the years Yearly (%) Quarterly (%) 10.00 10.00 9.00 9.00 8.11 7.99 8.00 8.00 7.59 7.44 7.24 7.16 7.39 7.00 7.00 6.36 5.93 5.84 5.81 5.70 6.00 6.00 5.66 6.19 5.00 5.00 4.47 4.00 4.00 3.32 3.03 3.00 3.00 Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar-15 M
Slide 47: Impairment of Loan Assets
IMPAIRMENT OF LOAN ASSETS Stage III Loans Assets and ECL Provision (₹ in millions) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Stage I Loan Assets 1,447,699 1,287,935 1,158,809 1,044,433 927,604 Stage II Loan Assets 4,577 5,340 10,556 5,042 6,089 Stage III Loan Assets 23,248 29,774 30,945 37,004 41,179 % Sta
Slide 48: Liability Mix
LIABILITY MIX Maintaining a diversified funding profile* (%) 5 1 Borrowings from Banks/FIs - ₹ 623,103 mn (50%) 15 Secured Non-Convertible Debentures - Listed - ₹ 375,645 mn (29%) External Commercial Bonds- Senior secured Notes - ₹ 193,231 mn (15%) 50 Commercial Paper - ₹ 68,994 mn (5%) 29 Other Loa
Slide 49: Domestic Credit Ratings
DOMESTIC CREDIT RATINGS Highest Rating among gold loan companies Short-term Rating Rating Indicates COMMERCIAL PAPER Very strong degree of safety with regard to timely payment of financial CRISIL RATINGS CRISIL A1+ obligation and carry lowest credit risk Very strong degree of safety with regard to t
Slide 50: International Credit Ratings
INTERNATIONAL CREDIT RATINGS Long-term Rating Rating Agencies Rating Indicates An elevated vulnerability to default risk, particularly in the event of adverse change in business or economic condition over time, FITCH RATINGS BB+(Stable) however, business or financial flexibility exists that supports
Slide 51: Break-up of Total Income
BREAK-UP OF TOTAL INCOME Interest Income (₹ in millions) Yearly Quarterly 180000 200000 168,770 190,105 160000 180000 140000 160000 109,560 124,476 140000 120000 120000 120,934 103,285 103,686 100000 100000 85,644 80000 71,138 80000 67,570 63,044 55,923 62,021 60000 60000 48,130 56,546 40000 43,690
Slide 52: Operating Expenses to Average Loan Assets
OPERATING EXPENSES TO AVERAGE LOAN ASSETS Operational efficiency over the years Yearly (%) Quarterly (%) 8.00 8.00 7.50 7.50 7.00 7.00 6.50 6.50 6.00 5.63 6.00 5.43 5.50 5.01 5.1 5.50 4.89 4.94 5.00 5.00 4.50 4.50 3.92 3.92 4.01 4.00 3.62 3.64 4.00 3.89 3.48 3.50 3.50 3.00 2.88 3.08 2.91 2.95 3.00 2
Slide 53: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (₹ in millions) Quarterly (₹ in millions) Mar- Mar- Mar- Mar- Mar- Mar- Mar- Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY 25* 24* 23* 22* 21* 20* 19* 2026* 2025* 2026* 2026* 2026* 2025* Employee Benefit Expenses 15,807 12,816 11,044 9,487 9,270 9,657 8,415 5,588 4,014 5,
Slide 54: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (%) Quarterly (%) Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* 2026* 2025* 2026* 2026* 2026* 2025* Employee Benefit Expenses 43 49 51 49 49 52 54 54 43 51 57 54 44 Rent 8 10 11 12 12 12 13 8 8 8 9 8 8 Advertisement
Slide 55: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY (Based on Income) Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* 2026* 2025* 2026* 2026* 2026* 2025* Interest expense to 37.47 36.67 35.08 34.56 34.92 32.00 32.51 36.44 37.18 35.80 37.05 36.40 37.08 Gross Inco
Slide 56: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) (Based on Average Loan Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Assets) 2026* 2025* 2026* 2026* 2026* 2025* Interest income to avg. loan 18.49 17.94 17.70 20.06 22.17 23.03 21.63 20.34 18.62 19.99 19.56
Slide 57: Profitability
PROFITABILITY Efforts getting rewarded Profitability at a glance (₹ in millions) Yearly PBT PAT Quarterly PBT PAT 75000 100000 70,706 94,786 70000 90000 65000 60000 80000 53,094 54,488 55000 52,008 70000 70,479 50,065 46,664 50000 60000 45000 40,574 39,543 50000 50,502 40000 30,768 40,497 35000 4000
Slide 58: Net Worth
NET WORTH Steady capital position Share Capital and Reserves & Surplus (₹ in millions) 390000 3,45,024 360000 330000 318,434 294,571 300000 284,375 270000 270,011 240000 242,903 210000 210,619 183,445 180000 152,389 150000 120000 115,718 97,928 90000 78,120 65,164 50,835 56,192 60000 30000 0 Mar- 15
Slide 59: Return on Equity
RETURN ON EQUITY Stable shareholder value creation Return on Average Equity Yearly (%) Quarterly (%) 55 55 50 50 45 45 40 40 35 32.03 30.61 29.86 35 30 28.28 30 28.26 27.77 25 20.7 19.2 24.81 23.55 20 25 22.40 19.44 19.73 15 20 17.63 17.86 10 14.35 15.13 15 5 0 10 Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY
Slide 60: Capital Ratio
CAPITAL RATIO Maintaining capital well above the statutory requirement of 15% Capital Adequacy Ratio (%) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Capital Adequacy Ratio 20.27 20.89 21.96 23.71 25.11 Tier-I 19.52 20.15 21.21 22.95 24.37 Tier-II 0.75 0.74 0.75 0.76 0.74 59
Slide 61: Market Value Ratio
MARKET VALUE RATIO Equity market valuation ratios indicate potential for upside 9M FY 9M FY FY Q3 FY 2026 Q3 FY 2025 Q2 FY 2026 Q1 FY 2026 2026 2025 2025 Earnings per share (₹) - Basic 66.16 33.96 58.42 50.97 175.55 91.99 129.54 - Diluted 66.16 33.95 58.42 50.97 175.55 91.98 129.54 Dec-25 Sep-25 Jun
Slide 62: Capitalisation Ratios
CAPITALISATION RATIOS Headroom for further leveraging (₹ In millions) Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Outside Liabilities 1,310,816 1,156,244 1,066,632 928,113 813,058 Cash and Cash Equivalents & Bank Balances 138,233 114,811 131,141 90,378 70,296 Tangible Networth 344,994 318,401 294,535 284,342
Slide 63: Team Strength
TEAM STRENGTH Groomed human capital over the years to meet growing business requirements (No. of Employees) 33000 31,565 32000 31,113 31000 30,451 30000 29,221 29000 28,286 28,478 28000 27,273 26,716 27000 25,911 26000 25,554 25000 24,224 24,205 24000 22,882 23000 23,455 22000 22,781 21000 20000 Mar
Slide 64: Belstar Microfinance Limited
BELSTAR MICROFINANCE LIMITED A Subsidiary of Muthoot Finance Limited
Slide 65: Belstar Microfinance Limited – An Overview
BELSTAR MICROFINANCE LIMITED – AN OVERVIEW As of December 2025 , Muthoot Finance holds 66.13% in BML. BML was incorporated on January 1988 at Bangalore and the Company was registered with the RBI in March 2001 as a Non- Banking Finance Company. The Company was reclassified as “NBFC-MFI” by RBI effec
Slide 66: Key Financial Parameters
Key Financial Parameters (₹ in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Number of Branches 1,290 1,224 1,290 1,287 1,275 1,281 Number of Employees 11,846 13,043 11,846 12,169 12,427 13,076 Loan AUM (₹) 79,106 87,032 79,106 77,145 77,065 79,699 Loan Assets
Slide 67: Muthoot Homefin
Muthoot Homefin
Slide 68: Muthoot Homefin – An Overview
MUTHOOT HOMEFIN – AN OVERVIEW Muthoot Homefin (India) Limited is a Housing Finance Company registered with National Housing Bank (NHB). It became a wholly owned subsidiary of Muthoot Finance Ltd in Aug’17. MHIL focuses on extending affordable housing finance and targets customers in Economically Wea
Slide 69: Loan AUM 3,380 Crores
LOAN AUM AS ON DEC 31, 2025 3,380 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2024 24% YoY AT 2,720 Crores 3,380 Crores 68
Slide 70: Total Revenue 339 Crores
TOTAL REVENUE AS ON DEC 31, 2025 339 Crores INCREASE IN TOTAL REVENUE AS ON DEC 31, 2024 38% YoY AT 246 Crores 339 Crores 7269
Slide 71: Business Performance
Business Performance (₹ in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Number of branches 172 163 172 166 163 163 Number of Sales Offices 172 163 172 166 163 163 Number of Employees 1013 878 1013 1,022 982 924 Loan AUM (₹) 33,802 27,196 33,802 32,465 30,961 2
Slide 72: Business Performance
Business Performance (₹ in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Disbursement (₹) 7,150 8,800 2,600 2,615 1,934 12,419 Borrowings (₹) 23,394 19,941 23,394 22,792 22,737 21,028 Debt Equity Ratio (%) 3.18 3.97 3.18 3.14 4.40 4.08 Yield on Advances (%) 13.
Slide 73: Financial Highlights, Growth Drivers
• Disbursements of INR 2,600 mn in Q3 FY 2026: AUM INR 33,802 mn as on December 31, 2025: Loan Book INR 29,016 mn as on December 31, 2025 • Average Ticket Size as on December 31, 2025: INR 1.19 mn • Business Presence: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh , Kerala, Andhra Pradesh, Telangan
Slide 74: Muthoot Money
&) Muthoot Money
Slide 75: Our Subsidiary Muthoot Money – An Overview
OUR SUBSIDIARY MUTHOOT MONEY– AN OVERVIEW Muthoot Money Ltd (MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is a RBI registered Non- Banking Finance Company engaged in extending gold loans. Initially, the Company was formed to extend loans for commercial vehicles
Slide 76: Loan AUM 8,003 Crores
LOAN AUM AS ON DEC 31, 2025 8,003 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2024 168% YoY AT 2,982 Crores 8,003 Crores 75
Slide 77: Total Revenue 862 Crores
TOTAL REVENUE 9 MONTHS ENDED DEC 31, 2025 862 Crores INCREASE IN 9 MONTHS ENDED DEC 31, 2024 TOTAL REVENUE 222% YoY AT 268 Crores 862 Crores 76
Slide 78: Profit After Tax 203 Crores
PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2025 203 Crores PROFIT TURNAROUND: PROFIT OF ₹ 203 CRORES 9 MONTHS ENDED DEC 31, 2024 AS AGAINST LAST YEAR’S LOSS OF ₹ 2 CRORES -2 Crores 203 Crores 77
Slide 79: Key Financial Parameters
OUR SUBSIDIARY Key Financial Parameters (₹ in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Number of branches 998 998 998 997 997 992 Number of Employees 4,780 4,302 4,780 4,791 4,432 4,437 Loan AUM (₹) 80,033 29,822 80,033 63,933 50,001 39,027 Capital Adequac
Slide 80: Muthoot Insurance Brokers
&) Muthoot Insurance Brokers
Slide 81: Muthoot Insurance – An Overview
MUTHOOT INSURANCE – AN OVERVIEW MIBPL became a wholly owned subsidiary of Muthoot Finance Ltd in Sep 2016. MIBPL is an unlisted private limited company holding a licence to act as Direct Broker from IRDA since 2013. It is actively distributing both life and non-life insurance products of various ins
Slide 82: Key Business Parameters, Key Financial Parameters
Key Business Parameters (₹ in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Premium Collection (₹ ) 3,286 4,563 879 1,197 1,210 5,885 Number of Policies 1,453,313 2,015,223 1,97,664 661,820 593,828 2,509,553 Key Financial Parameters (₹ in millions) Particulars
Slide 83: Asia Asset Finance PLC
fe ASIA ASSET FINANCE PLC A finance company with a golden heart
Slide 84: Asia Asset Finance PLC – An Overview
ASIA ASSET FINANCE PLC – AN OVERVIEW Asia Asset Finance PLC, (AAF) Colombo, Sri Lanka became a foreign subsidiary of Muthoot Finance on December 31, 2014. As on December 31,2025, total holding in AAF stood at 91 million equity shares representing 72.92% of their total equity share capital. The loan
Slide 85: Loan AUM LKR 4,224 Crores
LOAN AUM AS ON DEC 31, 2025 LKR 4,224 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2024 49% YoY AT LKR 2,840 Crores LKR 4,224 Crores 84
Slide 86: Profit After Tax LKR 68 Crores
PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2025 LKR 68 Crores INCREASE IN PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2024 36% YoY AT LKR 50 Crores LKR 68 Crores 85
Slide 87: Branch Network 111 Branches
BRANCH NETWORK AS ON DEC 31, 2025 111 Branches INCREASE IN AS ON DEC 31, 2024 BRANCH NETWORK 11% YoY AT 100 Branches 111 Branches 86
Slide 88: Products
PRODUCTS o Fixed Deposits o Mortgage Loans o Leasing o Factoring o Business Loan o Short Term Loans o Personal Loan o Micro Finance o Group Personal Loan o Loan against Gold Jewellery o Corporate Loans 87
Slide 89: Branch Network
BRANCH NETWORK AAF has operations in various parts of Sri Lanka providing the best services and easy access to clients 88
Slide 90: Key Financial Parameters
Key Financial Parameters (LKR in millions) Particulars 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 LKR/INR 0.28960 0.29243 0.28960 0.29320 0.28490 0.28910 Number of branches 111 100 111 107 101 100 Number of Employees 1,043 748 1,043 1,003 998 913 Loan AUM (LKR) 42,240 28,404 42,2
Slide 91: Other Subsidiaries
OTHER SUBSIDIARIES MUTHOOT ASSET MANAGEMENT PRIVATE LIMITED (₹ In millions) 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Networth 1,339 1,263 1,339 1,320 1,300 1,280 MUTHOOT TRUSTEE PRIVATE LIMITED (₹ In millions) 9M FY 2026 9M FY 2025 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 FY 2025 Netwo
Slide 92: Thank You
Thank You