Muthoot Finance Ltd · NSE:MUTHOOTFIN
Muthoot Finance — Q3 FY2019 Earnings Presentation
61 slides from Muthoot Finance's earnings presentation, Feb 6, 2019
Slide 1: Investor Presentation cover letter to exchanges
Scrip Code: 533398 Symbol: MUTHOOTFIN Ref: SEC/MFL/SE/2019/3069 February 06, 2019 National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Department of Corporate Services Plot no. C/1, G Block, P. J. Tower, Dalal Street, Bandra-Kurla Complex Mumbai 400 001 Bandra (E), Mumbai - 400 051 Dear
Slide 2: Financial Results Q3 FY 2019
Financial Results Q3 FY 2019 December 2018 MUTHOOT FINANCE LIMITED
Slide 3: 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 4: Disclaimer w.r.t adoption of IND-AS
DISCLAIMER w.r.t adoption of IND-AS This is the first time adoption of Indian Accounting Standards (“IND-AS”) for the purposes of the Company’s financial reporting. The impact of the transition from previous GAAP (“I-GAAP”) has been made in the opening reserves of FY 2018 Except the quarterly/
Slide 5: Consolidated Loan Assets
CONSOLIDATED LOAN ASSETS * Diversified Business of the Group * (` in million) Q3 FY 19 Q2 FY 19 Q1 FY 19 Q3 FY 18 YoY Growth(%) FY 2018 Consolidated Gross Loan Assets** of 364,973 359,559 343,157 307,172 19 321,591 the Group * Gross Loan Assets of Muthoot 324,704 323,186 309,966 282,690 15 291,420 F
Slide 6: 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 7: MFIN - A Glimpse
MFIN - A GLIMPSE 29 166 tonnes States/Union territory presence Gold jewellery kept as security 4,400+ 100,000+ Pan-India branches Retail investor base across debenture and subordinated debt portfolio 24,000+ 200,000+ Team members Customers served every day ` 324,704 mn Loan Assets Under Management (
Slide 8: Shareholding Pattern
SHAREHOLDING PATTERN Strong promoter interest in business with 74% stake 23.27 NSE Ticker 3.06 MUTHOOTFIN (%) Shareholding as on December 31, 2018 BSE Ticker Promoters & Relatives 533398 FII, FC, MF & Others Public Market Capitalisation (as on December 31, 2018) ` 206,701 million 73.68 6
Slide 9: Dividend Payout
DIVIDEND PAYOUT Delivering consistent returns to stakeholders (%) FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 Dividend (% )* 60 60 60 100 60 First Interim Dividend (%) 100 60 40 40 30 - Second Interim Dividend (%) - - 20 20 Final Dividend (%) - - - 20 10 Dividend Payout Ratio (%) 23.23 20.30 29.50 35.36
Slide 10: Geographical Presence
GEOGRAPHICAL PRESENCE A strong presence of 4422 branches across India (%) Branches region wise State wise Branch Network Jammu &Kashmir 6 15 Himachal 61 Pradesh East West Punjab 8 Chandigarh 8 184 Uttarakhand 16 North South Haryana 21 130 Delhi 217 Assam 25 Rajasthan (As of December 31, 2018) 139 Ut
Slide 11: Digital Initiatives
DIGITAL INITIATIVES Digital convenience for new gen & Millennium Customer acquisition Direct Credit Facility PoS Terminals • Loan proceeds credited to bank account • Enables swiping of Debit • NEFT/RTGS/IMPS mode of bank cards issued by banks transfer • Swiping charges for • Less cash handling at br
Slide 12: Digital Initiatives
DIGITAL INITIATIVES Online Gold Loan (OGL) • 17% of our active Gold loan Customers are transacting Online Muthoot Online iMuthoot App Mobile App • Our online services has now been re-branded to • Launched in Nov’16 has about 7.42 lakhs Muthoot Online, from WebPay earlier. downloads. • Customers can
Slide 13: Shareholder's Funds
SHAREHOLDER’S FUNDS Strong Capital Base Networth (` in million) Dec-18* Sep-18* Jun-18* Mar-18 Dec-17 Mar-17 Share Capital 4,006 4,002 4,001 4,000 3,999 3,995 Reserves & Surplus 88,776 83,903 79,070 73,604 73,898 61,169 Total 92,782 87,905 83,071 77,604 77,897 65,164 *Under IND- AS 11
Slide 14: Migration to IND-AS - Initial Adjustment to Reserves
Migration to IND-AS- Initial Adjustment to Reserves Impact of migration to IND-AS was made in the Opening Reserves of FY 2018 Particulars (` in million) Opening Reserve & Surplus as per Indian GAAP as at 1st April 2017 65,164 Adjustments: Impact on application of Expected Credit Loss method for loan
Slide 15: Assets
ASSETS Core focus continues to be gold loan Gross Loan Assets under management* Dec-18 Sep-18 Jun-18 Mar- 18 Dec-17 Growth Growth (` in million) (` in million) (` in million) (` in million) (` in million) YoY (%) QoQ (%) Gross loan assets 324,704 323,186 309,966 291,420 282,690 15 0 under management
Slide 16: Liabilities
LIABILITIES Stable sources of funding* Dec-18 Sep-18 Jun-18 Mar-18 Dec-17 Growth Growth (` in million) (` in million) (` in million) (` in million) (` in million) YoY (%) QoQ (%) Secured Non-Convertible Debentures (Muthoot Gold 6,584 7,034 7,645 8,769 11,419 (42) (6) Bonds) Secured Non-Convertible 7
Slide 17: Revenue & Profit
REVENUE & PROFIT Profit & Loss Statement (` in million) YoY YoY 9M FY 9M FY Q3 FY Q3 FY Q2 FY Q1 FY FY Growth Growth 2019* 2018* 2019* 2018* 2019* 2019* 2018** (%) (%) INCOME Interest Income 49,251 45,682 8 16,827 15,652 8 16,316 16,108 60,593 Other Income 751 624 20 344 262 31 185 222 1,839 Total 5
Slide 18: Reconciliation of IND-AS Migration
Reconciliation of IND-AS Migration I-GAAP and IND-AS Reconciliation (` in million) 9M FY 2018 Q3 FY 2018 Q2 FY 2018 Q1 FY 2018 Net Profit after Tax reported under Previous GAAP 1,26,888 46,365 4,542 3,511 Adjustments increasing/(decreasing) net profit after tax as reported in the previous GAAP: Impa
Slide 19: Gold Loan Portfolio
GOLD LOAN PORTFOLIO Gaining scale over the years Gold Loan Assets Under Management* (` in billion) 360 320 318 330 306 281 288 300 260 272 270 243 244 216 233 240 210 180 157 150 120 90 73 60 30 0 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 *Principal a
Slide 20: Gold Holding
GOLD HOLDING Carrying the trust of millions of our customers Gold jewellery kept as security (In tonnes) 180 161 168 166 154 155 160 149 137 142 140 134 131 118 120 112 100 80 66 60 40 20 0 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 18
Slide 21: 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-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 East 2 3 4 5 6 6 7 7 8 8 8 8 8 West 8 8 10 11 13 15 17 18 19 19 19 19 20 North 15 15 17 19 22 22 22
Slide 22: Productivity
PRODUCTIVITY Widening presence with increasing gold loan business per branch Average Gold Loan Per Branch * (` in million) 85 73.31 71.90 75 70.35 66.39 65.30 66.70 63.69 63.20 65 57.55 55.01 56.93 55 50.63 45.74 45 35 25 15 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Dec-17 Mar-18 Jun-1
Slide 23: Yield on Loan Assets and NIM
YIELD ON LOAN ASSETS AND NIM Yearly* (%) Quarterly** (%) 26.00 26.00 24.00 24.00 22.34 21.70 22.41 21.98 22.00 21.66 22.00 21.03 20.69 21.35 19.94 19.72 20.78 19.31 21.43 20.00 20.00 19.72 20.27 18.00 18.00 14.68 16.00 15.64 14.09 16.00 14.87 14.75 13.51 13.92 14.00 14.00 12.74 11.17 10.81 11.69 11.
Slide 24: Interest Spread
INTEREST SPREAD Yearly* (%) Quarterly** (%) 26.00 26.00 24.00 22.34 24.00 21.43 21.70 22.41 21.98 22.00 21.66 20.27 22.00 21.35 21.03 19.94 19.72 19.72 20.78 20.69 20.00 19.31 20.00 18.00 18.00 16.00 16.00 12.90 14.44 14.00 12.42 14.00 12.20 11.88 12.69 13.09 11.53 10.93 10.80 11.48 11.96 12.09 12.0
Slide 25: Return on Average Loan Assets
RETURN ON AVERAGE LOAN ASSETS Attractive returns over the years Yearly* (%) Quarterly** (%) 7.00 7.00 6.85 6.50 6.16 6.54 6.50 6.24 6.00 5.99 6.11 6.11 6.00 5.50 5.50 5.00 5.00 4.24 4.40 4.47 4.50 4.21 4.05 4.50 4.00 4.00 3.32 3.50 3.22 3.50 3.03 3.00 3.00 2.50 2.50 Mar-10 Mar-11 Mar-12 Mar-13 Mar-1
Slide 26: Stage III Loan Assets & ECL Provision
STAGE III LOAN ASSETS & ECL PROVISION IND AS (` in million) Dec-18 Sep-18 Jun-18 Mar-18 Dec-17 Mar-17 Stage III Loan Asset 6,372 6,169 8,835 12,872 21,481 7,612 % Stage III Asset on Gross Loan Asset 1.96 1.91 2.85 4.42 7.60 2.79 ECL Provision 5,835 5,795 5,892 6,089 7,089 5,278 ECL Provision as % of
Slide 27: Liability Mix
LIABILITY MIX Maintaining a diversified funding profile* (%) 2 Secured Non-Convertible Debentures (Muthoot Gold Bonds) – ` 6,584 mn (3%) 3 16 Secured Non-Convertible Debentures – Listed – ` 73,120 mn (29%) 2 Borrowings from Banks/Fis - ` 121,305 mn (48%) 29 Subordinated Debt – ` 1,179 mn (0%) Subord
Slide 28: Credit Ratings
CREDIT RATINGS Highest Rating among gold loan companies Short-term Rating Amt of rating Rating Indicates (` in million) COMMERCIAL PAPER Very strong degree of safety with regard to timely CRISIL 50,000 CRISIL A1+ payment of financial obligation and carry lowest credit risk ICRA 50,000 ICRA A1+ Very
Slide 29: Break-up of Gross Income
BREAK-UP OF GROSS INCOME Interest Income (` in million) Yearly* Quarterly** 70,000 56,546 60,593 70,000 60,000 60,000 53,641 49,251 50,000 49,077 48,130 50,000 45,682 45,280 42,703 40,000 40,000 30,000 30,000 16,827 15,652 16,316 22,983 20,000 16,108 20,000 10,000 10,775 10,000 0 Q3 FY Q3 FY Q2 FY Q
Slide 30: Operating Expenses to Average Loan Assets
OPERATING EXPENSES TO AVERAGE LOAN ASSETS Operational efficiency over the years Yearly* (%) Quarterly** (%) 8.50 8.50 8.00 8.00 7.50 7.50 7.00 7.00 6.50 6.50 6.00 6.00 5.63 5.39 5.50 5.50 5.24 5.27 5.01 5.1 4.90 5.00 5.00 4.72 4.55 4.54 4.28 4.46 4.50 4.15 4.50 4.02 4.08 4.00 4.00 3.50 3.50 Q3 FY Q3
Slide 31: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly* (` in million) Quarterly** (` in Million) Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar-18 Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 2019 2018 2019 2019 2019 2018 Personnel Expenses 7,288 7,280 6,418 6,304 5,917 5,453 4,145 2,209 1,913 1,515 2,019 2,102 6,034
Slide 32: 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-18 Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 2019 2018 2019 2019 2019 2018 Personnel Expenses 47 48 49 53 52 52 49 43 55 40 55 56 55 46 Rent 12 12 13 14 14 12 12 12 15 13 13 13 13 12 Advertiseme
Slide 33: Profitability Ratios
PROFITABILITY RATIOS Yearly* (%) Quarterly** (%) (Based on Mar-18 Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 9M FY 9M FY Q3 FY Q3 FY Q2 FY Q1 FY Income) 2019 2018 2019 2018 2019 2019 Interest expense to 31.07 39.92 46.31 48.71 53.08 52.34 52.10 44.83 32.51 31.91 34.29 29.69 32.44 30.72 Gross I
Slide 34: Profitability Ratios
PROFITABILITY RATIOS Yearly* (%) Quarterly** (%) (Based on Average Mar-18 Mar-17 Mar-16 Mar-15 Mar-14 Mar-13 Mar-12 Mar-11 Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Loan Assets) 2019 2018 2019 2019 2019 2018 Interest income to avg. 21.70 21.43 19.72 19.30 20.27 21.66 22.34 19.72 20.78 22.41 20.69 21.35 21
Slide 35: Profitability
PROFITABILITY Efforts getting rewarded Profitability at a glance (` in million) Yearly* PBT PAT Quarterly** PBT PAT 28,000 27,571 28,000 26,000 26,000 24,000 24,000 22,826 22,000 22,000 20,252 20,000 19,210 17,203 20,000 18,000 18,000 16,000 13,312 13,168 16,000 14,606 7,612 14,000 11,936 14,000 12,
Slide 36: Net Worth
NET WORTH Steady capital position Share Capital and Reserves & Surplus (` in million) 1,00,000 92,782 87,905 90,000 83,071 80,000 73,244 77,604 70,000 65,164 60,000 50,835 56,192 50,000 42,646 37,356 40,000 29,257 30,000 20,000 13,344 10,000 5,845 0 Mar 10 Mar 11 Mar 12 Mar 13 Mar-14 Mar- 15 Mar-16
Slide 37: Return on Equity
RETURN ON EQUITY Stable shareholder value creation Return on Average Equity Yearly* (%) Quarterly** (%) 55 51.52 30 50 48.10 24.54 24.54 22.86 25 22.70 23.65 45 21.48 41.90 40 20 35 15 30 30.15 24.10 10 25 20 19.50 5 14.35 19.44 15 15.13 0 10 Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar 10 Mar 11 Mar 12
Slide 38: Capital Ratio
CAPITAL RATIO Maintaining capital well above the statutory requirement Capital Adequacy Ratio (%) Dec-18* Sep-18* Jun-18* Mar-18 Dec-17 Capital Adequacy Ratio 25.74 25.92 26.44 26.59 27.65 Tier-I 25.22 25.32 24.78 24.75 25.52 Tier-II 0.52 0.60 1.66 1.84 2.13 *Under IND-AS 36
Slide 39: Market Value Ratio
MARKET VALUE RATIO Equity market valuation ratios indicate potential for upside Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY FY 2018 2019* 2018* 2019* 2019* 2019* 2018 Earnings per share (`) - Basic 12.12 11.98 12.09 12.29 36.50 31.77 43.04 - Diluted 12.12 11.95 12.07 12.24 36.43 31.65 42.85 *Under IND-AS De
Slide 40: Capitalisation Ratios
CAPITALISATION RATIOS Headroom for further leveraging (` In million) Dec-18* Sep-18* Jun-18* Mar-18 Dec-17 Outside Liabilities 265,680 258,102 254,559 2,36,212 236,707 Cash & Bank Balances 11,663 4,520 8,009 4,870 13,960 Tangible Networth 92,719 87,836 82,996 77,522 77,820 Capital Gearing 2.74 2.89
Slide 41: Team Strength
TEAM STRENGTH Groomed human capital over the years to meet growing business requirements (No. of Employees) 28000 25351 24881 25012 24205 23888 24063 23455 23623 22882 22781 22933 23000 18000 16688 13000 9745 8000 3000 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Dec-17 Mar-18 Jun-18 Sep-
Slide 42: Our Subsidiary: Asia Asset Finance PLC
OUR SUBSIDIARY Muthoot Finance ASIA ASSET FINANCE PLC The unconventional finance company
Slide 43: 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, 2018, total holding in AAF stood at 503 million equity shares representing 60% of their total capital. The loan portfolio sta
Slide 44: 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 42
Slide 45: Branch Network
BRANCH NETWORK AAF has operations in various parts of Sri Lanka providing the best services and easy access to clients 43
Slide 46: Key Financial Parameters
Key Financial Parameters (LKR in millions) Particulars 9M FY 2019 9M FY 2018 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 Q3 FY 2018 FY 2018 LKR / INR 0.38036 0.41374 0.38036 0.42833 0.43263 0.41374 0.41551 Number of branches 21 17 21 17 17 17 17 Number of Employees 525 490 525 493 493 490 489 Loan AUM (LKR) 11
Slide 47: Our Subsidiary: Muthoot Homefin
OUR SUBSIDIARY Muthoot Homefin G) Muthoot Finance 45
Slide 48: Muthoot Homefin - An Overview
MUTHOOT HOMEFIN – AN OVERVIEW Muthoot Homefin (India) Limited is a Housing Finance Company registered with The 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
Slide 49: Business Performance
Business Performance (` in millions) Particulars 9M FY 2019 9M FY 2018 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 Q3 FY 2018 FY 2018 Number of branches 79 17 79 73 70 17 19 Number of Sales Offices 132 121 132 132 132 121 121 Number of Employees 347 194 347 288 243 194 221 Loan AUM (`) 18,351 10,999 18,351 17,
Slide 50: Business Performance
Business Performance (` in millions) Particulars 9M FY 2019 9M FY 2018 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 Q3 FY 2018 FY 2018 Disbursement (`) 4,806 6,935 1,051 1,894 1,861 2,890 10,814 Borrowings (`) 14,545 8,608 14,545 13,994 14,394 8,608 13,477 Debt Equity Ratio (%) 3.68 4.21 3.68 3.62 6.34 4.21 6.2
Slide 51: Financial Highlights and Growth
• Disbursements in 9M FY 2019: Rs 4,806 mn. Loan Book as on December 31, 2018: Rs 18,350 mn • Average Ticket Size in 9M FY 2019: Rs.1.05 mn Financial • Business Presence: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh , Kerala, Andhra Pradesh,Telangana,Karnataka, Uttar Pradesh, Haryana , Chandigarh
Slide 52: Our Subsidiary: Muthoot Insurance Brokers
OUR SUBSIDIARY G) Muthoot Insurance Brokers &) Muthoot Finance 50
Slide 53: 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 54: Key Business and Financial Parameters
Key Business Parameters (` in millions) Particulars 9M FY 2019 9M FY 2018 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 Q3 FY 2018 FY 2018 Premium Collection (` ) 1,789 591 624 670 495 217 1,006 Number of Policies 15,61,993 6,36,406 5,63,207 5,48,410 4,50,376 2,03,677 8,41,476 Key Financial Parameters (` in mill
Slide 55: Our Subsidiary: Belstar Investment and Finance
® OUR SUBSIDIARY Muthoot Finance &y BELSTAR INVESTMENT AND FINANCE PRIVATE LIMITED A Subsidiary of Muthoot Finance Limited 53
Slide 56: Belstar Investment and Finance - An Overview
BELSTAR INVESTMENT AND FINANCE – AN OVERVIEW As of Dec 2018 , Muthoot Finance holds 70.01% in BIFPL . BIFPL 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 eff
Slide 57: Key Financial Parameters
Key Financial Parameters (` in millions) Particulars 9M FY 2019 9M FY 2018 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 Q3 FY 2018 FY 2018 Number of branches 339 215 339 305 257 215 235 Number of Employees 2,528 1,576 2,528 2,305 2,046 1,576 1,783 Gross Loan AUM (`) 15,627 9,451 15,627 13,806 12,361 9,451 11,37
Slide 58: Our Subsidiary
OUR SUBSIDIARY 56
Slide 59: Muthoot Money - An Overview
OUR SUBSIDIARY MUTHOOT MONEY– AN OVERVIEW Muthoot Money Pvt Ltd (MMPL), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MMPL is a RBI registered Non- Banking Finance Company engaged mainly in extending loans for vehicles. The operations are now centered in Hyderabad. Recentl
Slide 60: Key Financial Parameters
OUR SUBSIDIARY Key Financial Parameters (` in millions) Particulars 9M FY 2019 Q3 FY 2019 Q2 FY 2019 Q1 FY 2019 FY 2018 Number of branches 21 21 20 5 1 Number of Employees 298 298 203 76 3 Gross Loan AUM (`) 1,867 1,867 830 130 65 Total Revenue (`) 85 62 20 3 11 Total Expense (`) 121 72 42 7 8 Profi
Slide 61: Registered Office
REGISTERED OFFICE 2nd Floor, Muthoot Chambers Opposite Saritha Theatre Complex Banerji Road, Kochi Kerala – 682 018. India Tel: (91484) 2394712 Fax: (91484) 2396506 CIN: L65910KL1997PLC011300 RBI Reg No: N 16.00167 EMAIL (Individual & Corporate Investors) investors@muthootfinance.com (Institutional