Muthoot Microfin Ltd · NSE:MUTHOOTMF
Muthoot Microfin — Q3 FY2026 Earnings Presentation
37 slides from Muthoot Microfin's earnings presentation, Feb 9, 2026
Slide 1: Stock exchange filing cover letter
February 09, 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 C
Slide 2: Investor Presentation Q3 FY'26
Investor Presentation Q3 FY’26 1
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 Limi
Slide 4: Legacy of 138+ years of history
MPG – - Legacy Legacy of of 138+ 138+ years years of of history 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 Infrastructu
Slide 5: Journey So Far
Journey So Far Journey So Far 2026 Strengthens Non-JLG portfolio. 2025 IL AUM crosses ₹10,000 Mn . • Raised USD 128Mn via ECB. 2024 • Secures ESG Score of 72.2 w i t h CareEdge-ESG Rating, highest • Entered Telangana and rating tier by CARE. Andhra Pradesh State • Secures e-KYC Licence to c o n d u
Slide 6: Brand Recall and Synergies with Muthoot Pappachan Group
Brand Recall and Synergies with Muthoot the Muthoot Pappachan Pappachan Group Group Shareholding as of 31st Dec’25 Promoter Group Directors Institutions Institutions Foreign, Thomas Muthoot Thomas George Muthoot Thomas Muthoot Domestic, 3.03% 0.41% Chairman & Non-Executive Director Non Executive Dir
Slide 7: Key Managerial Personnel
Key Managerial Personnel Employee Mix1 Field Monitors- other departments Regional Office 301 Key Management Personnel and Senior Management Personnel 1,497 Head Office Field Monitors- Operation 348 team Sadaf Sayeed 397 Chief Executive Officer Exp: 25+ years, 15+ years with MPG Area Office Services:
Slide 8: Customer Success Story
Customer SuccessStory Customer Success Story Jesse Martin State - KERALA Branch - CHERAI MML Entrepreneurial Journey • Started with a small kitchen • Expanded into a thriving hotel business • Quality as her signature – seafood cuisine renowned for taste & pride Impact & Recognition • Menu grew along
Slide 9: Operational Highlights – Q3 FY'26
Operational Highlights – Q3 FY’26 AUM (Mn) Disbursement (Mn) Branch* 1,30,786 24,922 1,691 Nos (5.4% YoY) (4.1% QoQ) (22.5% YoY) (9.6% QoQ) (2.4% YoY) (-1.6% QoQ) Employee* Active Clients (Mn) CE (Overall) 16,032 3.33 94.80% (2.2% YoY) (-0.7% QoQ) (-2.6% YoY) (-0.7% QoQ) (2.2% YoY) (1.5% QoQ) GNPA (
Slide 10: Financial Highlights – Q3 FY'26
Financial Highlights – Q3 FY’26 Income (Mn) PPOP (Mn) PAT (Mn) INR 6,054 INR 1,753 INR 624 (-11.2% YoY) (4.8% QoQ) (-30.5% YoY) (17.7% QoQ) (1544.0% YoY) (104.6% QoQ) NIM (%) Opex Ratio (%) Cost to Income Ratio (%) 12.0% 6.5% 54.8% (-125 bps YoY) (11 bps QoQ) (+38 bps YoY) (-51 bps QoQ) (+1101 bps Y
Slide 11: Financial Highlights – 9M FY'26
Financial Highlights – 9M FY’26 Income (Mn) PPOP (Mn) PAT (Mn) INR 17,418 INR 4,628 INR 991 (-13.3% YoY) (-37.2% YoY) (-44.5% YoY) Equity (Mn) CAR (%) Debit-Equity INR 27,683 26.4% 3.26 (-8.0% YoY) (-407 bps YoY) (17.5% YoY) COF (%) PCR (%) Non – JLG Share on AUM 10.4% 70.5% 11.9% (-64 bps YoY) Inc
Slide 12: Consistent Growth
Consistent Growth Consistent Growth AUM (Mn) 5.4% YoY Disbursement (Mn) 22.5% YoY Clients (Mn) 2.6% YoY Client (Lks) Avg OS/Client ('000) 1,24,049 1,23,567 1,22,528 1,25,588 1,30,786 20,351 19,593 17,756 22,739 24,922 3.42 3.43 3.41 3.36 3.33 39 37 36 36 36 Q3 FY’25 Q4 FY’25 Q1 FY’26 Q2 FY’26 Q3 FY’
Slide 13: Key Metrics
Key Metrics Key Metrics Branch Count 1,726 1,718 1,691 RO Count Male Female AUM per Branch (Mn) 1 22 43 10 2 9,592 9,748 9,854 9,501 9,357 75.1 72.7 71.0 73.1 77.3 1,699 4 18 12 12 23 1,651 25 14 610 766 972 1,726 1,718 44 967 1,699 986 1,651 1,593 8,982 8,982 8,882 8,534 8,371 Q3 FY’25 Q4 FY’25 Q1
Slide 14: Strategic re-alignment through Diversification (1/2)
Strategic re-alignmentthrough Strategic re-alignment through Diversification Diversification 1/2 (1/2) Portfolio Concentration (Region-wise Trend) Number of Branches Per State 16% 15% 14% 15% 13% 394 Districts West 14% 14% 14% 1,691 Branches 13% 13% East 24% 24% 24% 24% 23% 4 North 49% 42 South 48%
Slide 15: Strategic re-alignment through Diversification (2/2)
Strategic re-alignmentthrough Strategic re-alignment through Diversification Diversification 2/2 (2/2) Portfolio Concentration (Districts) Consistent strength across key metrics in KL & TN Top 1 3% Top 3 8% Pan India AUM (Mn) IGL &Others IL Top 5 12% 29,036 Mn (87%) 4,239 Mn TN (13%) IL Share 8.4% T
Slide 16: Resilient Business Model – Proven over time
Resilient BusinessModel Resilient Business Model – Proven – Proven over over time time AUM GNPA TN Floods & Heat wave, Flood & Election TN, BH, WB & Rain Impact in PB Karza Mukti 2024 OD Floods & Northern & Western 2024 Fengal cyclone States 2024 1,25,185 1,24,049 1,25,588 1,30,786 1,21,935 1,22,103
Slide 17: Collection Efficiency
Collection Efficiency Collection Efficiency CE % 93.6% 93.7% 95.9% 95.2% 92.6% 93.0% 93.3% 94.8% 90.7% 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 Overall CE - X Bucket 99.5% 99.4% 99.9% 100.0% 99.1% 99.0% 99.0% 99.8% 99.8% FY'25 FY'26 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'
Slide 18: Collection Performance – Overdue
Collection Performance– -Overdue Collection Performance Overdue DMS Performance (Collection incld. closures) FO Productivity (Mn) 624 578 0.18 0.16 457 0.15 418 0.15 417 393 0.11 283 238 232 128 126 123 115 103 66 40 40 39 37 31 FO (Mn) Agency (Mn) DME (Mn) overall Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'2
Slide 19: Asset Quality 1/3
Asset Quality1/3 Asset Quality 1/3 (in mns) Particulars Q1FY26 Q2FY26 Q3FY26 9MFY26 Loan Assets Opening ECL (A) 5,769.40 4,218.30 4,565.76 5,769.40 Loan Assets ECL (%) ECL (%) Slab ECL (Gross) (Gross) Additions (B) (%) (Q3 FY 26) (Q2 FY 26) - Provisions as per ECL Model 1,007.97 347.46 -135.88 1,219
Slide 20: Asset Quality 2/3
Asset Quality2/3 Asset Quality 2/3 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% 54.9% 7.39% 6.26% 4.85% 4.84% 4.61% 4.40% 3.22% 3.03% 2.97% 2.92% 2.70% 2.
Slide 21: Asset Quality 3/3
Asset Quality3/3 Asset Quality 3/3 Borrowers % Portfolio % Lender Group Q3 FY-26 Q2 FY-26 Q1 FY-26 Q4 FY-25 Q3 FY-26 Q2 FY-26 Q1 FY-26 Q4 FY-25 Client Distribution: MML has the lowest share of clients in the 'Own + 3 or more lenders' segment at 7.7%, reflecting a Unique 41.7% 39.4% 36.8% 35.1% 39.2%
Slide 22: Digitization driving Collections
Digitalization driving Digitization driving Collections Collections Customer App Installation (Cum. Mn)¹ Cumulative Digital Collection (Mn) 1.73 1.79 1.85 1.89 1.94 58,673 60,312 61,936 63,675 65,377 67,071 68,973 70,789 72,814 Q3 FY’25 Q4 FY’25 Q1 FY’26 Q2 FY’26 Q3 FY’26 Apr-25 May-25 Jun-25 Jul-25
Slide 23: Performance & Annual Guidance FY 26
Performance Performance &&Annual AnnualGuidance Guidance Guidance FY 26 Actual Guidance Actual Particulars Remarks FY 25 FY 26 9M FY 26 We expect to achieve the Growth as we see improved disbursments in AUM -Growth 1.3% 5%-10% 7.8% H2 FY 26. Q3 Standalone NIM is 12% and the NIM expected to improve a
Slide 24: P&L Statement
P& & LL Statement Statement Financial Comparison Q3 FY 26 Q3 FY 25 YoY (%) Q2 FY 26 QoQ (%) 9M FY 26 9M FY 25 YoY (%) Income Revenue from operations 6,028.1 6,807.8 -11.45% 5,763.3 4.59% 17,377.5 20,066.6 -13.40% Other income 25.4 6.6 283.67% 10.6 139.20% 40.4 15.6 159.37% Total income 6,053.5 6,814
Slide 25: Robust Fiscal year performance in terms of Income/Profitability (1/2)
Robust Fiscalyear Robust Fiscal yearperformance performancein in terms terms of Income/Profitability of Income/Profitability (1/2) (1/2) Revenue from Operations Total Income (in Mns) 20.7% 20.7% 25,644 22,553 19.7% 18.8% 18.6% 18.1% 6,814 6,054 5,591 5,774 FY 24 FY 25 Q3 FY 25 Q1 FY 26 Q2 FY 26 Q3 F
Slide 26: Robust Fiscal year performance in terms of Income/Profitability (2/2)
Robust Fiscalyear Robust Fiscal yearperformance performancein in terms terms of Income/Profitability of Income/Profitability (2/2) (2/2) Cost Ratio’s Cost to Income 13.3% 12.4% 11.9% 12.0% 60.3% 59.8% 11.5% 54.8% 9.4% 46.9% 7.9% 43.8% 6.9% 7.0% 6.2% 6.1% 6.5% 4.3% 3.6% 3.3% FY 25 Q3 FY 25 Q1 FY 26 Q
Slide 27: Balance Sheet
Balance Sheet Balance Sheet (Rs in Millions) Financial Assets 9M FY 26 9M FY 25 FY 25 Financial Liabilities 9M FY 26 9M FY 25 FY 25 Cash and cash equivalents 10,939.9 7,884.4 6,972.5 Derivative financial instruments - - 76.9 Bank balances other than cash 5,294.6 6,004.2 4,725.2 Total outstanding due
Slide 28: Balance Sheet Metric
Balance SheetMetric Balance Sheet Metric Networth (in Mns) CRAR 28,044 1,361 27,683 29.0% 26,322 27.9% 26.4% 21.9% 16,258 FY 23 FY 24 FY 25 Q3 FY 26 FY 23 FY 24 FY 25 Q3 FY 26 Debt/Equity Cost of Borrowing 3.99 11.2% 3.26 2.98 3.01 10.9% 11.0% 10.4% Marginal CoF, 9.8% FY 23 FY 24 FY 25 Q3 FY 26 FY 2
Slide 29: Funding Profile
Funding Profile Funding Profile Liquidity-current Position (in Mns) Lender-wise Outstanding 9M FY’26 Domestic DFI 23,290 SFB 5% Foreign DFI 4% 4% Retail Public Sector 7% Banks 26% 11,532 11,282 NBFC 7% 1,277 Private Liquid funds in hand HQLA-G Sec Investment Foreign Banks Sector Banks DA/PTC Sanctio
Slide 30: Liquidity – Static Liquidity Position
Liquidity Liquidity ––Static StaticLiquidity Liquidity Position Position Static ALM (in Mns) Maturity ALM (in Mns) 46,850 52,417 37,792 42,673 30,177 32,083 26,614 31,491 17,285 16,354 19,043 18,930 22,031 17,295 16,168 13,389 13,330 12,457 11,695 12,287 6,915 6,876 6,582 6,552 7,035 5,817 7,372 6,5
Slide 31: Robust Risk Management via use of Technology and expert human touch
Robust RiskManagement Robust Risk Management via via use use of of Technology Technology andand expert expert human human touchtouch Risk Management Framework Dedicated Credit Managers at all Efficient and Independent Internal Unique credit score developed along branches Audit & Compliance team Coll
Slide 32: Internal Controls
Internal ControlsRO Internal Controls RO 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
Slide 33: Digital Eco-System: Suvidha Loan
Digital Eco - System Digital 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: 3
Slide 34: Technology Interventions
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 supported Mu l t i pl e p a y m e n t E-signing exposure Verification g r o u p evaluation channels Real t i m
Slide 35: Past Five Years Track Record
Past FiveYears Past Five YearsTrack Track Record 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 F
Slide 36: Glossary
Glossary Glossary 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
Slide 37: 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 ThankYou 36