Slide 1: Exchange filing cover letter
May 08, 2025 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:
Slide 2: Investor Presentation Q4 FY'25
Investor Presentation Q4 FY’25
Slide 3: Disclaimer
Disclaimer 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 Ltd
Slide 4: MPG - Legacy of 138+ years of history
MPG - Legacy of 138+ years of history 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, Mu
Slide 5: Journey So Far
Journey So Far 2025 • Secures ESG Score of 72.2 w i t h CareEdge-ESG 1Rating, hig hest rating tier b y CARE. 2024 • Secures e-KYC Lisence to conduct Aadhaar enab led e-KYC for custom er onboarding. • Raised USD 128Mn via ECB. • Entered Telangana and Andhra Pradesh State • Launched t h e ‘Mahila Mitr
Slide 6: Client Base
Brand Recall and Synergies with the Muthoot Pappachan Group Client Base Target Customer segment of group 3.43Mn 5Mn 0.5Mn 35K MML is the first level of Customer can progressively graduate to gold loans, entry into formal financial vehicle finance and affordable housing institution for BoP clients Histor
Slide 7: Strong Corporate Governance and Support from Promoters & Investors
Strong Corporate Governance and Support from Promoters & Investors Shareholding as of 31st Mar’25 Promoter Group Directors Institutions Foreign, 2.70% Institutions Domestic, 2.32% Thomas Muthoot Thomas George Muthoot Thomas Muthoot Chairman & Non-Executive Non Executive Director Director John Execut
Slide 8: Key Managerial Personnel
Key Managerial Personnel Regional Office Field Monitors- other departments 273 Key Management Personnel and Senior Management Personnel Employee Mix 1 1226 Head Office 322 Field Monitors- Operation team 402 Area Office managers 456 15,989 Loan Officer 9340 Branch Management Staff 3970 Awards & Recog
Slide 9: Operational Highlights – FY'25
Operational Highlights – FY’25 AUM (Mn) Employees 1,23,567 Branch 15,989 GNPA (+1.3% YoY) 1,699 Nos (+15.3% YoY) 4.84% (-0.4% QoQ) (+12.7% YoY) (+1.9% QoQ) (+255 bps YoY) (+2.9% QoQ) (+181 bps QoQ) Disbursement (Mn) CE 88,725 Active Clients (Mn) 93.6% (Overall) NNPA (-16.8% YoY) (-4.8% YoY) 3.43 1.3
Slide 10: Financial Highlights – FY'25
Financial Highlights – FY’25 ROA Income (Mn) Cost to Income Ratio -1.80% INR 25,644 PPOP (Mn) 46.91% (-599 bps YoY) (+13.7% YoY) INR 8,676 (+121 bps YoY) (4.19%) (22,553 Mn) (45.70%) (+15.0% YoY) ROE (7,544 Mn) -8.19% (-2,848 bps YoY) (20.30%) NIM (Mn) NIM% Credit Cost INR 15,512 PAT (Mn)¹ (14.3% Yo
Slide 11: Financial Highlights – Q4 FY'25
Financial Highlights – Q4 FY’25 Income (Mn) Equity (Mn) PCR INR 5,562 PPOP (Mn) INR 26,322 (QoQ) (-6.1% YoY) (-13.8% YoY) INR 1,303 (-12.5% QoQ) Q3FY25 Q4FY25 (-18.4% QoQ) (-45.6% YoY) Stage 1 0.60% 1.61% CAR (-48.4% QoQ) Stage 2 9.01% 30.76% 27.86% (-111 bps YoY) Stage 3 58.72% 73.32% (-265 bps QoQ
Slide 12: Business Trends Q4 FY'25
Business Trends Q4 FY’25 AUM (Mn) 1.3% YoY Disbursement (Mn) 17% YoY Clients (Mn) 2.3% YoY Client (Lks) Avg OS/Client ('000) 3.44 3.42 3.43 1,25,185 28,879 1,24,049 3.40 1,23,567 26,738 3.35 1,22,103 1,21,935 22,043 20,351 19,593 36 36 36 36 36 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 Q4 FY’24 Q
Slide 13: Resilient Business Model – Proven over time
Resilient Business Model – Proven over time Kerala Floods Karnataka Crisis Covid Wave 1 Covid Wave 2 TN Floods & PB Karza Mukti Heat wave, Flood & Election TN, BH, WB & OD 2019 2020 2020 2021 2024 2024 Floods & Fengal cyclone 2024 1,22,103 1,25,185 1,24,049 1,23,567 1,21,935 1,08,671 92,083 74,495 6
Slide 14: Strategic re-alignment through Diversification
Strategic re-alignment through Diversification Portfolio Concentration (Region-wise Trend) Consistent Rural Penetration (AUM) Number of Branches Per State 14% 96.3% 96.4% 96.3% 96.4% 96.6% 13% 12% 12% 12% West 15% 15% 14% 14% 14% East 24% 24% 24% 23% 23% North 50% 50% 50% 49% Q4 FY’24 Q1 FY’25 Q2 FY
Slide 15: Strategic re-alignment through Diversification
Strategic re-alignment through Diversification Clients with Retail Account Type Count Account Count POS (cr) Clients with Retail Overall 34,26,252 12,71,749 28,486 Account MFI Only 21,54,503 Business Loan 5,12,747 4,916 Customer with Retail Loan 12,71,749 Personal Loan 4,52,597 3,163 1 type of Loan
Slide 16: Integrated Customer Monetization Strategy
Integrated Customer Monetization Strategy Cross-Sell Strategy Leveraging Multi-Product Client Exposure to build a Secured book This slide presents an analysis of our existing MFI client base and their exposure across key retail lending segments. Leveraging our MFI client base’s multi-product exposur
Slide 17: Strategic re-alignment through Diversification
Strategic re-alignment through Diversification Impact of delinquency on specific retail loans product Customer With Retails Loans( MML 90+ PAR (Net of Writeoff)) Clients with Retail Gold Vehicle Commercial Account Type Business Loan Personal Loan Agri Loan Mortgages Other Credit Card Leasing Overdra
Slide 18: Top 5 States Performance
5,710 96.9% 6,666 TN 96.4% 4,697 TN 95.5% 4,530 93.2% 3,443 97.8% 4,246 98.1% KL KL 3,140 99.1% 3,232 99.1% Q1 FY'25 Q1 FY'25 97.1% 2,474 94.3% 2,705 BH BH 88.4% 2,156 86.2% 1,996 Q2 FY'25 Q2 FY'25 Top 5 States Performance CE% 98.7% 2,097 97.6% 2,680 KA KA 93.3% 1,412 Q3 FY'25 Q3 FY'25 83.1% 614 DIS
Slide 19: Collection Efficiency
98.0% 93.2% TN 95.5% 98.9% 99.5% Overall CE Q1 FY’24 99.1% 101.2% KL 98.5% 100.0% 83.1% KA State wise Overall CE 98.9% 93.2% 0.0% 101.6% Q2 FY’24 Collection Efficiency 100.1% TG 100.2% 0.0% 100.1% 98.4% AP 100.1% 101.8% Q3 FY’24 101.1% 86.2% BH 91.5% 97.6% 97.6% 92.5% HR 100.3% Q4 FY’24 93.4% 100.4%
Slide 20: Asset Quality 1/7
Asset Quality 1/7 (in mns) (in mns) (FY 24-25) (FY 23-24) Particulars Q4FY25 FY25 Slab Loan Assets Loan Assets (Gross) Opening ECL (A) 2,597.67 1,822.65 ECL ECL (%) ECL (%) (Gross) (%) Stage 1 85,102.11 1,367.17 91.34% 1.61% 0.56% Additions (B) Stage 2 3,557.53 1,094.20 3.82% 30.76% 1.06% - Provisio
Slide 21: Asset Quality - Natural Calamity Claim & Insurance Settlement 2/7
Asset Quality - Natural Calamity Claim & Insurance Settlement 2/7 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 NATCAT Insurance Settlement State Name Count Settlement % Count Settlement % Count Settlement % Count Settlement % TAMILNADU 2 100.0% - - 50,928 96.7% - - 29.5K 4.1K 1.4K 9.8K RAJASTHAN 2 100.0% 6,3
Slide 22: Asset Quality 3/7
Asset Quality 3/7 GNPA, NNPA & Provision Coverage Stage 1 (0-30) GNPA Ratio NNPA Ratio (Net of Stage III provision) Provision Coverage (Net of Stage III provision) Stage 1 (0-30) Excl. KA 96.4% 96.6% 96.1% 73.3% 80.0% 66.6% 64.8% 94.2% 92.1% 59.9% 61.0% 58.7% 70.0% 58.3% 54.9% 92.9% 60.0% 50.0% 91.3
Slide 23: Asset Quality 4/7
Asset Quality 4/7 KARNATAKA Crisis – Performance Impact (MML) Disbursement (Mn) CE% & CD CE% 99.6% 98.1% 98.4% 98.1% 954 97.2% 97.4% 97.8% 879 847 90.5% 91.4% 782 777 96.9% 96.1% 96.0% 95.4% 89.6% 750 94.4% 93.7% 93.1% 89.0% 89.6% 81.2% 565 87.8% 77.9% 407 80.1% 335 76.2% 299 142 65 Apr-24 May-24 Ju
Slide 24: Asset Quality 5/7
Asset Quality 5/7 Q4 FY-25 PAR 30+ - Mar-25 Borrower Vintage Borrowers % - Mar-25 Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique to MML 4.0% 3.0% 1.7% 1.1% 3.1% Unique to MML 11.9% 7.2% 4.7% 11.2% 35.1% MML+1 4.8% 4.0% 2.5% 1.8% 3.9% M
Slide 25: Asset Quality 6/7
Asset Quality 6/7 Q4 FY-25 Q4 FY-25 Borrowers % Mar-25 Portfolio% Mar-25 Borrower Vintage Borrower Vintage Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Indebtedness 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Upto 50K 12.2% 8.0% 5.5% 13.3% 39.0% Upto 50K 10.3% 2.6% 0.8% 1.3% 15.0% 50k - 1Lk 15.1% 8.5% 2.6% 4.7% 3
Slide 26: Asset Quality 7/7
Asset Quality 7/7 Q4 FY-25 Q3 FY-25 Q2 FY-25 Borrowers % Borrower Vintage Borrower Vintage Borrower Vintage Lender Group 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % 0-2 Y 2-4 Y 4-6 Y >6 Y Total % Unique to MML 11.9% 7.2% 4.7% 11.2% 35.1% 14.0% 5.6% 6.1% 9.1% 34.8% 12.7% 5.6% 5.8% 8
Slide 27: Score Card Impact (New Sourcing)
Score Card Impact (New Sourcing) Impact of Score Card Risk Category wise Collection Efficency Unique credit score devloped along with Equifax 95.7% 90.9% 94.0% 88.8% 89.6% 84.0% 87.1% 83.1% No. of loans (Mn) Risk Category From Inception Q1-FY'25 Q2-FY'25 Q3-FY'25 Q4-FY'25 FY'25 Total 2.29 0.06 0.16
Slide 28: Marked increase in rejection leading to lower disbursement
Marked increase in rejection leading to lower disbursement Q4 FY'25 Major Contributors to CB Rejections 50% Primary Reasons 47% for Rejection 45% 42% 40% 40% 41% 39% 37% 33% 34% The overall rejection rate in 29% 30% 28% 30% FY'25 fluctuated between 34% 26% 8% and 50%, with a sharp increase FOIR in Q3
Slide 29: Digitization driving Collections
Digitization driving Collections Customer App Installation (Cum. Mn)¹ Digital Collection (Mn) Digital Collection Share%² 1.63 1.66 1.70 1.73 1.79 5,980 6,388 5,690 5,713 5,174 26% 27% 24% 25% 24% Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 Q4 FY’24 Q1 FY
Slide 30: Key Metrics
Key Metrics Branch Count RO Count AUM per Branch (Mn) 1,508 1,562 1,593 1,651 1,699 8,539 8,571 9,246 9,591 9,748 80.9 78.2 78.6 75.1 72.7 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 Q4 FY’24 Q1 FY’25 Q2 FY’25 Q3 FY’25 Q4 FY’25 AUM per RO (Mn) Client per
Slide 31: Performance & Annual Guidance
Performance & Annual Guidance Guidance FY 26 Actual Guidance Particulars Commentary FY 25 FY 26 AUM-Growth 1.3% 5%-10% Growth expected to be back on FY 26 The NIM expected to remain as the COF is coming down. The yield to be remain in NIM 12.4% 12.4%-12.7% same level The Operating expense to be on h
Slide 32: P & L Statement
P & L Statement Financial Comparison Q4 FY 25 Q4 FY 24 YoY (%) Q3 FY 25 QoQ (%) FY 25 FY 24 YoY (%) Income Revenue from operations 5,550.3 6,432.2 -13.71% 6,807.8 -18.47% 25,616.9 22,489.3 13.91% Other income 11.9 18.6 -36.01% 6.6 79.14% 27.5 63.5 -56.71% Total income 5,562.2 6,450.7 -13.77% 6,814.5
Slide 33: Robust Fiscal year performance in terms of Income/Profitability (1/2)
Robust Fiscal year performance in terms of Income/Profitability (1/2) Revenue from Operations Total income (in Mns) 20.7% 25,644 19.0% 19.7% 22,553 17.0% 14,463 8,429 FY 22 FY 23 FY 24 FY 25 FY 22 FY 23 FY 24 FY 25 PPOP (in Mns) PAT (in Mns) 4,496 8,676 7,544 1,639 4,362 474 FY 25 1,759 FY 22 FY 23
Slide 34: Robust Fiscal year performance in terms of Income/Profitability (2/2)
Robust Fiscal year performance in terms of Income/Profitability (2/2) Cost Ratio’s Cost to Income Net Interest Margin Opex Ratio Provisioning Cost 65.0% 12.6% 12.4% 51.4% 11.9% 46.9% 45.7% 10.3% 9.4% 6.9% 6.2% 5.9% 6.2% 2.3% 3.0% 1.4% FY 22 FY 23 FY 24 FY'25 FY 22 FY 23 FY 24 FY'25 Profitability Rat
Slide 35: Balance Sheet
Balance Sheet (Rs in Millions) Financial Assets FY 25 FY 24 Financial Liabilities FY 25 FY 24 Cash and cash equivalents 6,972.5 9,276.5 Derivative financial instruments 76.9 - Bank balances other than cash 4,725.2 6,488.2 Total outstanding dues of creditors 196.7 250.5 Trade receivables 221.1 145.2
Slide 36: Balance Sheet Metric
Balance Sheet Metric Networth (Mns) CRAR 28,044 26,322 28.8% 29.0% 27.9% 21.9% 16,258 13,366 FY 22 FY 23 FY 24 FY 25 FY 22 FY 23 FY 24 FY 25 Debt/Equity Cost of Borrowing 11.2% 3.99 11.0% 10.9% 2.99 3.00 3.01 10.4% FY 22 FY 23 FY 24 FY 25 FY 22 FY 23 FY 24 FY 25
Slide 37: Funding Profile
Funding Profile Liquidity-Current Position (in Mns) Lender wise Outstanding FY25* Domestic DFI, 8.8% Foreign DFI, 6.5% 16,324 SFB, 1.1% Public Sector Banks, Retail, 2.8% 33.6% NBFC, 4.5% 6,973 5,960 Foreign Banks, 13.1% Liquid funds in hand DA/PTC Sanction Pending Term Funding Sanctions Private Sect
Slide 38: Liquidity – Static Liquidity Position
Liquidity – Static Liquidity Position Static ALM (in Mns) Maturity ALM (in Mns) 40,258.7 43,742.5 36,950.6 41,517.3 30,781.0 32,566.9 26,914.7 22,437.5 18,800.4 19,872.5 19,539.5 21,764.6 16,482.8 14,171.1 20,134.5 14,381.5 16,826.3 10,489.8 10,497.5 9,865.2 13,887.2 6,549.8 6,292.8 6,285.4 6,270.2
Slide 39: Fraud Mitigation e-KYC
Fraud Mitigation Real-Time Identity Verification Reduces Employee Driven Fraud • Instant validation through Aadhaar reduces • Field staff can no longer onboard fake customers chances of identity theft or fake borrower for phantom loans or divert funds, as e-KYC creation. requires customer presence (
Slide 40: Strategic Road Map (1/2)
Strategic Road Map (1/2) Business Process • Credit insights to optimize sourcing in geographies with business potential/ risk. Sourcing • Target audience based marketing strategies for 1. Credit Underwriting lead generation. • Lead generation through customer apk. • Business Target Computation. • Cu
Slide 41: Strategic Road Map (2/2)
Strategic Road Map (2/2) • Engaging Chatbots for grievance handling. • Improve customer financial literacy through omni channel communications. • Dissemination of process and product information through Chatbots. • Utilize these channels to educate the customers on the hygiene factors which needs to
Slide 42: Robust Risk Management via use of Technology
Robust Risk Management via use of Technology Risk Management Framework Dedicated Credit Managers at all Efficient and Independent Internal Unique credit score developed along branches Audit & Compliance team Collections with Equifax 1,827 by Area Credit Managers and Credit Managers supervised 449 Au
Slide 43: Internal Controls
Internal Controls 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. GRT’s St
Slide 44: Digital Eco-System
Digital Eco - System 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: 3655.2 Mn
Slide 45: Technology Interventions
Technology Interventions Customer Group Group Loan Sanction Centre Onboarding Training Confirmation & Disbursement Meeting Score card-based N o m i n e e KYC System s up p ort e d Mu l t ip l e p a ym e n t E-signing exposure Verification g r o u p evaluation channels Real t i m e CB System s up po
Slide 46: Past Five Years Track Record
Past Five Years Track Record AUM (Mn) Disbursements (Mn) Borrowers (Mn) CAGR 25% CAGR 35% CAGR 17% 1,06,616 1,21,935 1,23,567 3.43 3.35 88,725 81,045 2.77 92,083 2.05 62,550 46,470 1.86 49,867 26,367 FY-21 FY-22 FY-23 FY-24 FY-25 FY-21 FY-22 FY-23 FY-24 FY-25 FY-21 FY-22 FY-23 FY-24 FY-25 Branches L
Slide 47: Glossary
Glossary Particulars Definition Cost of borrowing represents annually weighted average interest cost on borrowings, weights being annual average borrowings. Borrowings include debt securities, Cost of Borrowing(%) subordinated liabilities, and borrowings (other than debt securities) Cost to Income r
Slide 48: Thank You
Thank You For further information please contact: Mr. Rajat Gupta AVP – Investor Relations Email: Rajat.Gupta@Muthootmicrofin.com Ph. No: +91-98218 49374 About Muthoot Muthoot Pappachan Mahila Mitra App Microfin Group