Muthoot Finance Ltd · NSE:MUTHOOTFIN
Muthoot Finance — Q3 FY2024 Earnings Presentation
96 slides from Muthoot Finance's earnings presentation, Feb 14, 2024
Slide 1: Filing cover letter to stock exchanges
February 14, 2024 Ref: SEC/MFL/SE/2023/5009 National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, BSE Limited, Plot No. C/1, G Block, P. J. Tower, Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (E),Mumbai - 400 051 Scrip Code: 533398 Symbol: MUTHOOTFIN
Slide 2: Financial Results Q3 FY 2024
Financial Results Q3 FY 2024 December 2023
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: 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 59.02 Muthoot Money Limited Vehicle Finance
Slide 5: Performance Highlights Nine Months Ended Dec 31, 2023
PERFORMANCE HIGHLIGHTS NINE MONTHS ENDED DEC 31, 2023 Increase in Consolidated Loan AUM : 27% YoY at ₹ 82,773 Crores Increase in Standalone Loan AUM : 23% YoY at ₹ 71,182 Crores Highest ever Gross Gold Loan Advance in first 9 months of a Year: ₹ 120,856 Crores Highest ever Gold Loan Advance to new c
Slide 6: Consolidated Loan AUM
CONSOLIDATED LOAN AUM AS ON DEC 31, 2023 ₹ 82,773 Crores INCREASE IN CONSOLIDATED LOAN AUM AS ON DEC 31, 2022 27% YoY AT ₹ 65,085 Crores ₹ 82,773 CRORES 4
Slide 7: Standalone Loan AUM
STANDALONE LOAN AUM AS ON DEC 31, 2023 71,182 Crores INCREASE IN STANDALONE LOAN AUM AS ON DEC 31, 2022 23% YoY AT 57,731 Crores ₹ 71,182 CRORES 5
Slide 8: Gross Gold Loan Advance
GROSS GOLD LOAN ADVANCE AS ON DEC 31, 2023 ₹ 120,856 Crores HIGHEST EVER GROSS GOLD LOAN ADVANCE IN FIRST 9 MONTHS OF A YEAR 120,856 CRORES 6
Slide 9: New Customer Acquisition (New KYC)
NEW CUSTOMER ACQUISITION (NEW KYC) AS ON DEC 31, 2023 11,920 Crores HIGHEST EVER GOLD LOAN ADVANCE TO NEW CUSTOMERS IN FIRST 9 MONTHS OF A YEAR 11,920 CRORES 7
Slide 10: Gold Loan AUM
GOLD LOAN AUM AS ON DEC 31, 2023 ₹ 69,221 Crores INCREASE IN GOLD LOAN AUM AS ON DEC 31, 2022 22% YoY OF ₹ 56,824 Crores 12,397 CRORES 8
Slide 11: Consolidated Profit After Tax
CONSOLIDATED PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2023 3,285 Crores INCREASE IN 9 MONTHS CONSOLIDATED PROFIT 9 MONTHS ENDED DEC 31, 2022 AFTER TAX 23% YoY AT 2,661 Crores 3,285 CRORES 9
Slide 12: Standalone Profit After Tax
STANDALONE PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2023 2,993 Crores INCREASE IN 9 MONTHS STANDALONE PROFIT 9 MONTHS ENDED DEC 31, 2022 AFTER TAX 16% YoY AT 2,571 Crores 2,993 CRORES 10
Slide 13: Interest Collection
INTEREST COLLECTION 9 MONTHS ENDED DEC 31, 2023 8,149 Crores ALL TIME HIGH INTEREST COLLECTION IN FIRST 9 MONTHS OF A YEAR 8,149 CRORES 11
Slide 14: The Group: Snapshot of performance
THE GROUP Snapshot of performance YoY 9M FY 2024 9M FY 2023 H1 FY 2024 Q1 FY 2024 FY 2023 (%) Group Branch Network (Nos) 6,325 5,810 6,169 5,897 9 5,838 Consolidated Loan Assets Under Management* of 827,731 650,846 794,934 767,987 27 714,968 the Group (` in million) Consolidated Profit after tax of
Slide 15: Loan Assets Under Management of the Group
THE GROUP Loan Assets Under Management* of the Group (` in millions) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 YoY (%) Muthoot Finance Limited 711,821 690,016 676,385 632,098 577,311 23 Muthoot Homefin (India) Limited 17,834 16,157 15,007 14,381 14,099 26 Belstar Microfinance Limited 88,346 78,741 70,082 6
Slide 16: Standalone Profit of Group Companies
THE GROUP Standalone Profit of Group Companies (` in millions) 9M FY 2024 9M FY 2023 Q3 FY 2024 Q3 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Muthoot Finance Limited 29,934 25,709 10,273 9,017 9,910 9,751 34,735 Muthoot Homefin (India) Limited 134 78 43 39 44 47 104 Muthoot Insurance Brokers Private 322
Slide 17: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (` in millions) Particulars Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 ASSETS Financial assets Cash and cash equivalents 86,263 68,337 42,930 77,702 61,191 Bank Balance other than above 4,719 4,206 4,432 2,655 2,260 Derivative Financial Instruments - 6 - - 73
Slide 18: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (` in millions) Particulars Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 LIABILITIES Financial Liabilities Derivative Financial Instruments 61 16 1,749 1,922 1,290 Trade Payables 1,508 1,216 1,165 1,341 1,446 Other Payables 532 730 795 817 3 Debt Securities 179
Slide 19: Consolidated Financial Results
Consolidated Financial Results (` in millions) 9M FY 9M FY YoY Q3 FY Q3 FY QoQ Q2 FY Q1 FY Particulars FY 2023 2024 2023 (%) 2024 2023 (%) 2024 2024 Income Interest Income 105,669 84,214 25 36,832 29,335 5 35,053 33,784 115,555 Service Charges 1,540 998 54 710 410 47 481 348 1,371 Sale of Services 1
Slide 20: 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 21: MFIN - A Glimpse
MFIN - A GLIMPSE 29 184 tonnes States/Union territory presence Gold jewellery kept as security 4,700+ 100,000+ Pan-India branches Retail investor base across debenture and subordinated debt portfolio 28,000+ 200,000+ Team members Customers served every day ` 711,821 mn Loan Assets Under Management (
Slide 22: Shareholding Pattern
SHAREHOLDING PATTERN Strong promoter interest in business with 73% stake NSE Ticker 23.39 3.26 MUTHOOTFIN (%) Shareholding as on December 31, 2023 BSE Ticker Promoter & Promoter group 533398 FII, FC, MF & Others Market Capitalisation Public (as on December 31,2023) ` 592,674 million 73.35 20
Slide 23: 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 Wholetime Director Wholetime Director George M George George M Jacob George Alexander Wholetime Director Wholetime Director Wholetime Director 21
Slide 24: Board of Directors – Independent Directors
BOARD OF DIRECTORS – INDEPENDENT DIRECTORS (2/2) Joseph Korah Jose K Mathew Ravindra Pisharody V. A. George Independent Director Independent Director Independent Director Independent Director Usha Sunny Abraham Chacko C A Mohan Independent Director Independent Director Independent Director 22
Slide 25: Dividend Payout
DIVIDEND PAYOUT Delivering consistent returns to stakeholders (%) FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 Dividend (% )* 220 200 200 150 120 100 60 60 Dividend payout (` in millions) 8,832 8,027 8,024 7,249 5,796 4,813 2,885 2,877 Dividend Payout Ratio (%) 25 20 21 19 24 22 2
Slide 26: Geographical Presence
GEOGRAPHICAL PRESENCE A strong presence of 4774 branches across India (%) Branches region wise State wise Branch Network Jammu & Kashmir 7 17 Himachal Pradesh 59 Punjab 13 Chandigarh 191 Uttarakhand 10 East West Haryana 23 142 Delhi 17 North South Rajasthan 227 Uttar Pradesh 148 197 Assam 34 Bihar 2
Slide 27: 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/UPI mode of bank cards issued by banks transfer • Swiping charges for • Instant credit to cu
Slide 28: Digital Initiatives: Online Gold Loan
DIGITAL INITIATIVES Online Gold Loan (OGL) • 39.89 % of gold loan customers are transacted online. (including Paytm, PhonePe & Google Pay) iMuthoot App Muthoot Online Mobile App • Our online services has now been re-branded to • Launched in Nov’16 has about 8.38m downloads and 6.5m Muthoot Online, f
Slide 29: Digital Initiatives: Loan at Home
DIGITAL INITIATIVES Loan at Home Loan at Home App Mobile App • Launched in July’20 has about 10K + downloads. • The loan at home is an app-based digital service, with which a customer can apply for a gold loan through the ‘Loan@Home’ mobile app and web portal • After which an appointment is made for
Slide 30: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (` in millions) Particulars Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 ASSETS Financial assets Cash and cash equivalents 78,811 61,415 34,871 64,288 52,623 Bank Balance other than above 2,144 2,290 2,296 324 363 Derivative Financial Instruments - 6 - - - Trade
Slide 31: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (` in millions) Particulars Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 LIABILITIES Financial Liabilities Derivative Financial Instruments 62 16 1,734 1,892 1,290 Trade Payables 1,616 1,760 1,794 1,959 1,317 Debt Securities 167,296 134,945 127,288 137,384 112,97
Slide 32: Revenue & Profit
REVENUE & PROFIT Standalone Financial Results (` in millions) YoY YoY 9M FY 9M FY Q3 FY Q3 FY Q2 FY Q1 FY Growth Growth FY 2023 2024 2023 2024 2023 2024 2024 (%) (%) INCOME Interest Income 90,900 75,746 20 31,176 26,184 19 30,147 29,577 103,686 Other than Interest Income 1,856 1,053 76 581 487 19 58
Slide 33: Equity
EQUITY Strong Capital Base Networth (` in millions) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Equity Share Capital 4,015 4,015 4,014 4,014 4,014 Other Equity 228,373 217,791 207,756 206,605 197,378 Total 232,388 221,805 211,771 210,619 201,392 31
Slide 34: Assets
ASSETS Core focus continues to be gold loan Loan Assets under management* Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Growth Growth (` in million) (` in million) (` in million) (` in million) (` in million) YoY (%) QoQ (%) Loan assets under 711,821 690,016 676,385 632,098 577,311 23 3 management Break-up of
Slide 35: Liabilities
LIABILITIES Stable sources of funding* Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Growth Growth YoY (` in million) (` in million) (` in million) (` in million) (` in million) QoQ (%) (%) Secured Non-Convertible Debentures 205 213 357 845 1,526 (87) (4) (Muthoot Gold Bonds) Secured Non-Convertible Debentures
Slide 36: Gold Loan Portfolio
GOLD LOAN PORTFOLIO Gaining scale over the years Gold Loan Assets Under Management* (` in billions) 760 692 720 675 680 660 640 619 600 575 568 560 520 519 480 440 408 400 360 336 320 288 280 260 272 216 233 243 240 200 160 120 80 40 0 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 M
Slide 37: Gold Holding
GOLD HOLDING Carrying the trust of millions of our customers Gold jewellery kept as security (In tonnes) 200 187 180 182 183 184 180 176 171 175 169 160 155 142 149 134 131 140 118 120 100 80 60 40 20 0 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Dec-22 Mar-23 Jun-23 Sep-23
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-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 East 5 6 6 7 7 8 8 9 9 9 9 10 10 10 10 West 11 13 15 17 18 19 20 19 19 19 20 19 19 19
Slide 39: Productivity
PRODUCTIVITY Widening presence with increasing gold loan business per branch Average Gold Loan Per Branch * (` in millions) 155 142.29 145.00 139.26 130.57 135 124.61 121.63 115 112.10 95 89.28 74.97 75 66.70 63.69 63.20 56.93 50.63 55.01 55 35 15 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar
Slide 40: Highly Liquid Portfolio (1/2)
HIGHLY LIQUID PORTFOLIO (1/2) Disbursements and Collections (` in billions) 179 173 165 156 132 127 120 114 104 103101 104 99 94 88 88 87 81 84 75 61 55 54 58 48 45 43 41 43 42 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Avg Monthly Disbursement Av
Slide 41: Highly Liquid Portfolio (2/2)
HIGHLY LIQUID PORTFOLIO (2/2) Efficient Collection 100% 62% 66% 60% 61% 60% 66% 62% 62% 67% % of collections to disbursement 80% 60% 40% 20% 0% FY15 FY16 FY17 FY18 FY 19 FY 20 FY 21 FY 22 FY 23 1m 2m 3m 4m 5m 6m Collections in 6 months of disbursements made in respective periods A high proportion
Slide 42: 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- 23 23 23 23 22 22 21 20 19 18 17 16 Gold Loan assets (` in Billions) 692 675 660 619 568 575 519 407 336 288 272 243 Quantity of Gold content in 184 183 182 180
Slide 43: Customer Base (1/2)
CUSTOMER BASE Highly churning customer base (1/2) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Sep-22 Jun-22 Mar-22 Gold Loan AUM 692,214 675,171 660,388 618,753 568,244 565,014 561,766 575,313 (` in Millions) QoQ % change in Gold Loan 3 2 7 9 1 1 (2) 6 AUM No. of Loan Accounts 85,81,654 84,94,596 83,35,866 8
Slide 44: Customer Base (2/2)
CUSTOMER BASE Highly churning customer base (2/2) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Sep-22 Jun-22 Mar-22 Above Gold Loan AUM and No. of customers includes: Fresh loans to inactive customers during the quarter in Gold Loan AUM No. of customers 408,758 428,114 412,206 401,638 381,683 402,622 393,018
Slide 45: Yield on Loan Assets and NIM
YIELD ON LOAN ASSETS AND NIM Yearly (%) Quarterly (%) 26.00 26.00 24.00 23.03 24.00 21.66 22.21 22.17 22.00 22.00 21.43 21.23 20.06 20.00 20.27 19.72 20.00 17.70 18.00 19.31 17.79 18.22 17.65 18.08 18.00 17.89 17.59 16.00 15.53 15.29 14.24 16.00 14.00 12.74 13.03 14.00 14.20 11.38 12.00 11.86 10.84
Slide 46: Interest Spread
INTEREST SPREAD Yearly (%) Quarterly (%) 26.00 26.00 24.00 23.03 22.17 24.00 21.66 22.21 22.00 21.43 21.23 20.27 22.00 19.31 19.72 20.06 20.00 20.00 17.70 17.79 18.22 17.65 18.08 18.00 18.00 17.89 17.59 16.00 16.00 13.45 14.04 13.49 14.00 14.00 12.42 11.88 11.99 12.00 12.00 10.93 10.80 10.90 12.23 1
Slide 47: Return on Average Loan Assets
RETURN ON AVERAGE LOAN ASSETS Attractive returns over the years Yearly (%) Quarterly (%) 10.00 10.00 9.00 8.11 7.99 9.00 8.00 7.24 8.00 7.00 6.36 7.00 6.19 5.93 6.27 6.00 5.86 5.96 5.89 6.00 5.80 5.97 5.00 5.00 4.05 4.47 4.00 3.22 4.00 3.32 3.03 3.00 3.00 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18*Ma
Slide 48: Impairment of Loan Assets
IMPAIRMENT OF LOAN ASSETS Stage III Loans Assets and ECL Provision (` in millions) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Stage I Loan Assets 681,546 655,302 633,637 599,834 549,192 Stage II Loan Assets 4,508 7,075 13,958 8,278 13,223 Stage III Loan Assets 25,767 27,639 28,789 23,986 14,896 % Stage III
Slide 49: Liability Mix
LIABILITY MIX Maintaining a diversified funding profile* (%) 1 Secured Non-Convertible Debentures (Muthoot Gold Bonds) – ` 205 mn (0%) 8 Secured Non-Convertible Debentures – Listed – `167,247 mn (29%) 29 Borrowings from Banks/FIs - ` 357,539 mn (62%) Subordinated Debt – Listed - ` 505 mn (0%) Commer
Slide 50: 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 51: 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 52: Break-up of Total Income
BREAK-UP OF TOTAL INCOME Interest Income (` in millions) Yearly Quarterly 1,40,000 1,40,000 1,20,000 1,09,560 1,20,000 1,03,285 1,03,686 1,00,000 1,00,000 90,900 85,644 75,746 80,000 80,000 56,546 62,021 67,570 60,000 60,000 53,641 49,077 42,703 48,130 40,000 31,176 40,000 26,184 30,147 29,577 20,00
Slide 53: 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 5.50 5.43 5.10 5.50 5.01 4.89 4.94 5.00 5.00 4.46 4.50 4.50 4.08 3.92 4.00 3.62 4.00 3.88 3.48 3.70 3.50 3.49 3.50 3.35 3.33 3.23 3.00 3.00
Slide 54: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (` in million) Quarterly (` in millions) Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2024* 2023* Employee Benefit 11,044 9,487 9,270 9,657 8,415 7,393 7,280 3,105 2,659 3,074 3,226 9,405 7,95
Slide 55: 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-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2024* 2023* Employee Benefit 51 49 49 52 54 47 48 53 49 52 50 52 54 Expenses Rent 11 12 12 12 13 12 12 12 11 11 10 11 13 Advertis
Slide 56: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY (Based on Income) Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2024* 2023* Interest expense to 35.08 34.56 34.92 32.00 32.51 30.50 39.92 38.16 34.27 37.62 35.15 37.00 35.92 Gross Incom
Slide 57: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) (Based on Average Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 Q3 FY Q3 FY Q2 FY Q1 FY 9M FY 9M FY Loan Assets) 2024* 2023* 2024* 2024* 2024* 2023* Interest income to avg. loan 17.70 20.06 22.17 23.03 21.63 22.21 21.43 17.79 18.22 17.65 18.08 1
Slide 58: Profitability
PROFITABILITY Efforts getting rewarded Profitability at a glance (` in millions) Yearly PBT PAT Quarterly PBT PAT 55,000 45,000 53,094 50,000 40,252 50,065 46,664 40,000 45,000 34,500 39,543 35,000 40,000 40,574 29,934 35,000 37,222 30,000 30,768 34,735 25,709 30,000 25,000 28,447 30,183 25,000 20,0
Slide 59: Networth
NETWORTH Steady capital position Share Capital and Reserves & Surplus (` in millions) 2,60,000 2,32,388 2,40,000 2,21,805 2,20,000 2,11,771 2,10,619 2,00,000 2,01,392 1,80,000 1,83,445 1,60,000 1,52,389 1,40,000 1,15,718 1,20,000 97,928 1,00,000 78,120 80,000 65,164 56,192 60,000 37,356 42,646 50,83
Slide 60: 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 35 30 30.15 28.26 27.77 30 25 24.81 18.09 18.02 17.81 22.40 23.55 20 18.32 18.29 18.47 25 19.50 19.44 15 20 17.63 14.35 15.13 10 15 5 10 0 Mar 13 Mar 14 Mar 15 Mar 16 Mar 1
Slide 61: Capital Ratio
CAPITAL RATIO Maintaining capital well above the statutory requirement of 15% Capital Adequacy Ratio (%) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Capital Adequacy Ratio 30.86 30.31 30.03 31.77 33.29 Tier-I 30.10 29.55 29.27 31.01 32.41 Tier-II 0.76 0.76 0.76 0.76 0.88 59
Slide 62: Market Value Ratio
MARKET VALUE RATIO Equity market valuation ratios indicate potential for upside 9M FY 9M FY FY Q3 FY 2024 Q3 FY 2023 Q2 FY 2024 Q1 FY 2024 2024 2023 2023 Earnings per share (`) - Basic 25.58 22.46 24.69 24.29 74.56 64.05 86.54 - Diluted 25.59 22.46 24.68 24.29 74.56 64.04 86.52 Dec-23 Sep-23 Jun-23
Slide 63: Capitalisation Ratios
CAPITALISATION RATIOS Headroom for further leveraging (` In millions) Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Outside Liabilities 598,543 572,272 530,708 515,579 458,748 Cash and Cash Equivalents & Bank 78,936 61,680 35,136 64,428 52,793 Balances Tangible Networth 232,351 221,769 211,732 210,584 201,361
Slide 64: Team Strength
TEAM STRENGTH Groomed human capital over the years to meet growing business requirements (No. of Employees) 30000 28779 29000 28097 27701 28000 27273 27000 26716 26399 25911 26000 25554 24881 25012 25000 24205 24224 24000 22882 23000 23455 22781 22000 21000 20000 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 M
Slide 65: Our Subsidiary: Belstar Microfinance Limited
OUR SUBSIDIARY Ny BELSTAR MICROFINANCE LIMITED ® Muthoot Finance 63
Slide 66: Belstar Microfinance Limited – An Overview
BELSTAR MICROFINANCE LIMITED – AN OVERVIEW As of December 2023 , Muthoot Finance holds 59.02% 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 67: Loan AUM
LOAN AUM AS ON DEC 31, 2023 8,835 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2022 65% YoY AT 5,341 Crores 8,835 CRORES 65
Slide 68: Loan Disbursement
LOAN DISBURSEMENT 9 MONTHS ENDED DEC 31, 2023 6,776 Crores INCREASE IN LOAN DISBURSEMENT 9 MONTHS ENDED DEC 31, 2022 85% YoY AT 3,661 Crores 6,776 CRORES 66
Slide 69: Profit After Tax
PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2023 235 Crores INCREASE IN PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2022 49 Crores 382% YoY AT 235 CRORES 67
Slide 70: Key Financial Parameters
Key Financial Parameters (` in millions) Particulars 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of Branches 1,009 736 1,009 946 782 768 Number of Employees 10,169 7,649 10,169 9,491 8,421 8,022 Loan AUM (`) 88,346 53,409 88,346 78,741 70,082 61,925 Loan Assets (`) 73,877 4
Slide 71: Our Subsidiary: Muthoot Homefin
OUR SUBSIDIARY Muthoot Homefin G) Muthoot Finance 69
Slide 72: 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 73: Loan AUM
LOAN AUM AS ON DEC 31, 2023 1,783 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2022 26% YoY 1,410 Crores AT 1,783 CRORES 71
Slide 74: Loan Disbursement
LOAN DISBURSEMENT 9 MONTHS ENDED DEC 31, 2023 493 Crores INCREASE IN LOAN DISBURSEMENT 9 MONTHS ENDED DEC 31, 2022 139 Crores 256% YoY AT 493 CRORES 72
Slide 75: Profit After Tax
PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2023 13 Crores INCREASE IN PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2022 72% YoY AT 8 Crores 13 CRORES 73
Slide 76: Business Performance
Business Performance (` in millions) Particulars 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of branches 122 108 122 122 111 108 Number of Sales Offices 122 108 122 122 111 108 Number of Employees 569 318 569 512 418 346 Loan AUM (`) 17,834 14,100 17,834 16,157 15,007 14,38
Slide 77: Business Performance
Business Performance (` in millions) Particulars 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Disbursement (`) 4,932 1,387 2,154 1,684 1,094 2,235 Borrowings (`) 10,222 6,693 10,222 9,467 8,191 6,602 Debt Equity Ratio (%) 2.17 1.47 2.17 2.03 1.77 1.44 Yield on Advances (%) 13.39 12
Slide 78: Financial Highlights and Growth
• Disbursements of INR 2154 mm in Q3 FY 2024: AUM INR 17834 mm as on December 31, 2023: Loan Book INR 14733 mm as on Dec 31, 2023: • Average Ticket Size in Q3 FY 2024: INR 1.50 mm Financial • Business Presence: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh , Kerala, Andhra Pradesh, Telangana, High
Slide 79: Our Subsidiary
OUR SUBSIDIARY 77
Slide 80: 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 mainly in extending gold loans and loans for commercial vehicles and equipments. The operations are
Slide 81: Loan AUM
LOAN AUM AS ON DEC 31, 2023 818 Crores INCREASE IN LOAN AUM AS ON DEC 31, 2022 179% YoY AT 293 Crores 818 CRORES 79
Slide 82: Total Revenue
TOTAL REVENUE 9 MONTHS ENDED DEC 31, 2023 82 Crores INCREASE IN TOTAL REVENUE 9 MONTHS ENDED DEC 31, 2022 39 Crores 109% YoY AT 82 CRORES 80
Slide 83: Profit After Tax
PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2023 3 Crores INCREASE IN PROFIT AFTER TAX 9 MONTHS ENDED DEC 31, 2022 PAT OF 3 CRORES AS AGAINST LOSS OF 3 (3) Crores CRORES LAST YEAR 81
Slide 84: Key Financial Parameters
OUR SUBSIDIARY Key Financial Parameters (` in millions) Particulars 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of branches 340 139 340 276 185 149 Number of Employees 1,748 818 1,748 1,040 1,154 920 Loan AUM (`) 8,176 2,933 8,176 6,302 4,961 3,870 Capital Adequacy Ratio(%)
Slide 85: Our Subsidiary: Muthoot Insurance Brokers
OUR SUBSIDIARY G) Muthoot Insurance Brokers &) Muthoot Finance 83
Slide 86: 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 87: Key Business and Financial Parameters
Key Business Parameters (` in millions) Particulars 9MFY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Premium Collection (` ) 4,656 4,473 1,557 1,622 1,477 6,505 Number of Policies 27,60,625 33,58,501 969,250 875,081 916,295 46,86,920 Key Financial Parameters (` in millions) Particulars
Slide 88: Our Subsidiary: Asia Asset Finance PLC
OUR SUBSIDIARY ASIA ASSET FINANCE PLC A finance company with a golden heart Muthoot Finance 86
Slide 89: 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 31,2023, total holding in AAF stood at 91 million equity shares representing 72.92% of their total capital. The loan portfolio sta
Slide 90: Branch Network
BRANCH NETWORK AS ON DEC 31, 2023 80 Branches INCREASE IN BRANCH NETWORK AS ON DEC 31, 2022 14% YoY AT 70 Branches 80 BRANCHES 88
Slide 91: Profit After Tax
PROFIT AFTER TAX QUARTER ENDED DEC 31, 2023 LKR 9.70 Crores INCREASE IN PROFIT AFTER TAX QUARTER ENDED SEPT 30, 2023 35% QoQ AT LKR 7.20 Crores LKR 9.70 CRORES 89
Slide 92: 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 90
Slide 93: Branch Network
BRANCH NETWORK AAF has operations in various parts of Sri Lanka providing the best services and easy access to clients 91
Slide 94: Key Financial Parameters
Key Financial Parameters (LKR in millions) Particulars 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 LKR/INR 0.25682 0.225911 0.25682 0.2562605 0.26625 0.249700 Number of branches 80 70 80 80 77 75 Number of Employees 512 454 512 523 595 590 Loan AUM (LKR) 18,903 20,778 18,903 19,58
Slide 95: Other Subsidiaries
OTHER SUBSIDIARIES MUTHOOT ASSET MANAGEMENT PRIVATE LIMITED (` In millions) 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Networth 1,189 1,126 1,189 1,172 1,157 1,141 MUTHOOT TRUSTEE PRIVATE LIMITED (` In millions) 9M FY 2024 9M FY 2023 Q3 FY 2024 Q2 FY 2024 Q1 FY 2024 FY 2023 Netwo
Slide 96: Muthoot Family - years of Business Legacy
Muthoot Family - 800 years of Business Legacy