Muthoot Capital Services Ltd. · NSE:MUTHOOTCAP
Muthoot Capital Services — Q1 FY27 Earnings Presentation
35 slides from Muthoot Capital Services's earnings presentation, Jul 16, 2026
Slide 1: Cover letter to stock exchanges
MCSL/SEC/26-27/143 July 16, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited Dalal Street, Exchange Plaza, C-1, Block G, Mumbai - 400 001, Maharashtra Bandra Kurla Complex, Bandra (E), Scrip Code (Equity) - 511766 Mumbai - 400 051, Maharashtra Scrip Code (Debenture
Slide 2: Q1 FY27 Investor Presentation
Q1 FY 27 INVESTOR PRESENTATION
Slide 3: Muthoot Capital Services Limited
Muthoot Capital Services Limited Its equity shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Muthoot Capital Services Ltd., promoted by the Muthoot Pappachan Group, is a Non- Banking Finance Company (NBFC) Established in 1994, it is registered with
Slide 4: MCSL Products
MCSL Products Retail Loans Two-Wheeler loans CV &CE loans Used Car loans Loyalty loans Other products Fixed Deposit Corporate loans
Slide 5: 30 Year Journey
30 Year Journey 1994 Started Operations 500cr 1995 2008 2014 2016 Listed on BSE Entered the Two- AUM crosses AUM crosses Wheeler financing 500cr 1000cr segment 2022 2019 2019 2018 Rated CRISIL A+ AUM crosses Golden Peacock MCSL ranks 2000cr Award for Corporate among Top 50 NBFC Ethics across India 2
Slide 6: Portfolio & Asset Quality
Portfolio & Asset Quality 5
Slide 7: AUM Growth – Retail and Other Loans
AUM Growth – Retail and Other Loans ₹ 2,851Cr ₹ 28 Cr ₹ 499 Cr ₹ 3,379 Cr * +23% YoY MCSL Retail Portfolio Corp Loan & Other Portfolio Co-Lending Portfolio Total Portfolio Growth In MCSL Retail 84% | +23% YoY 1% | -16% YoY 15% | -44% YoY 4% QoQ Portfolio Portfolio Trend Quarterly (₹ Cr) 2,821.64 2,8
Slide 8: Product wise Portfolio
Product wise Portfolio ₹ 3,379 Cr 23% 44% 3.94% 20.80% Total Portfolio (AUM) MCSL Retail Growth Co Lending Overall GNPA Portfolio Yield +4.2% YoY vs Last Year vs Last Year ↓ 182 bps YoY Stable Portfolio Outstanding by Product (₹ Cr) Product Q4 FY26 Q1 FY27 Change % Growth Share (Q1) Two-Wheeler 2,37
Slide 9: Geographic Distribution of Portfolio
Geographic Distribution of Portfolio South India East India North India West India Top Region Highest GNPA Region 36% of AUM 6.5% Portfolio Distribution by Region Regional Metrics Summary 15% 36% Region Share GNPA 16% South India 36% 3.0% West India 11% 3.9% North India 22% 6.5% 22% East India 16% 4
Slide 10: Product wise Disbursements
Product wise Disbursements Retail Loans MCSL Disbursement QoQ Growth Co Lending Disbursement QoQ Growth ₹ 534 Cr vs Q4 26: ₹ 509 Cr 5% ₹ 28 Cr vs Q4 26: ₹ 60 Cr -53% Product-wise Disbursement Comparison (₹ Cr) MCSL Co-Lenders Product Q4 FY26 Q1 FY27 Change % Growth Share (Q1) Product Q4 FY26 Q1 FY27
Slide 11: Yields
Yields Yield (%) by Product Line Used Two Wheeler 26.10 Loyalty 24.94 Two Wheeler 22.06 Used Car 18.60 CV 17.50 CE 17.30 0 5 10 15 20 25 30
Slide 12: Retail Disbursement Trend and TW Blended Rate
Retail Disbursement Trend and TW Blended Rate Quarterly Disbursement Trend 1.2 177.51 279.94 453.89 345.02 497.91 632.50 845.68 644.99 618.50 528.04 625.86 569.14 562.98 1 7.69% 5.00% 18.05% 16.08% 10.49% 28.93% 34.57% 28.56% 26.82% 0.8 41.70% 44.39% 40.27% 57.95% 0.6 92.31% 89.51% 95.00% 0.4 81.95%
Slide 13: Disbursement Retail Loans Q1 FY26 & Q1 FY27
Disbursement Retail Loans Q1 FY 26 & Q1 FY 27 Q1 FY 26 Q1 FY 27 150.88 145.33 125.19 44.97 27.14 39.5 28.13 25.9 30.05 24.91 27.05 0.74 20.36 24.30 1.08 0.65 0.01 0.03 Apr-25 May-25 Jun-25 Apr-26 May-26 Jun-26 Dealer Co Lending GRDC Deccan Finance Limited Dealer Co Lending GRDC Deccan Finance Limite
Slide 14: Portfolio Analysis
Portfolio Analysis Portfolio Analysis 3.94% 130.07 ₹. In Crores Segment – wise Analysis 2,751.27 178.77 3.11 279.76 56.00 28.16 3.98% 1.31% 0.00% 0.35% 2.67% 55.67% 3,167.01 96.02% 98.69% 100.00% 99.65% 97.33% 96.06% 44.33% 93.22% Two Wheeler Four Wheeler Three Commercial Loyality & Corp Loan & Whee
Slide 15: GNPA & NNPA
GNPA & NNPA Overall GNPA & NNPA Retail GNPA & NNPA 6.51% 6.48% 6.54% 6.97% 6.46% 6.45% 5.81% 5.76% 4.12% 3.64% 3.72% 3.50% 3.94% 3.39% 3.64% 3.39% 2.70% 2.70% 2.36% 1.94% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 JUN-25 SEP-25 DEC-25 MAR-26 JUN-26 GNPA NNPA GNPA NNPA
Slide 16: Asset Quality and NPA Movement
Asset Quality and NPA Movement Parameters Jun-25 Mar-26 Jun-26 ₹. In Crores Gross NPAs - Opening POS 134.52 197.60 194.90 Add : Additions 45.49 33.28 39.41 Less: Reductions Normalized and Closed during the Quarter 4.39 15.96 7.18 Repossessed vehicles sold during the Quarter 3.49 3.89 2.50 Amount col
Slide 17: Expected Credit Loss (ECL) Vs IRACP
Expected Credit Loss (ECL) Vs IRACP ₹. In Crores Mar-2026 ECL IRAC Excess Particulars AUM ECL% IRACP % Provision Provision /(Deficit) Performing Assets S1 and S2 Hypothecation Loans 3,107.27 19.73 12.43 7.30 0.63% 0.40% S1 and S2 other loans 10.14 0.08 0.04 0.04 0.79% 0.40% Non-Performing Assets S3
Slide 18: Strategic Partnerships
Strategic Partnerships CO-LENDING PARTNERSHIPS (4 NBFCs) Total: ₹ 499 Cr | 15% of AUM ₹245 Cr Greaves Finance (49%) ₹130 Cr Wheels EMI (26%)* ₹94 Cr CreditWise Capital (19%) ₹31 Cr Manba Finance (6%) *Out of the 130 Cr of Wheels EMI , 42 Cr securitized under PTC BUSINESS CORRESPONDENT (BC) PARTNERSH
Slide 19: ARC Transactions Performance
ARC Transactions Performance Total Collections (Since the sale): ₹ 125 Cr | Total SR Reduction: ₹ 97 Cr | Overall Recovery: 67% * Excluding the recent ARC ARC 01 : Phoenix ARC ARC 02 : PRASADITYA ARC ARC 03 : PRASADITYA ARC Principal Outstanding (POS) Principal Outstanding (POS) Principal Outstandin
Slide 20: Collections – Q1 FY27
Collections –Q1 FY 27 Sources of Collections 301.80 281.47 283.13 264.03 242.67 162.25 74.33 26.36 71.15 27.40 54.34 28.67 15.36 23.01 19.39 Q1 26 Q4 26 Q1 27 NACH MFL Bank/Electronic Mode Employee Collection Agency Collection Sources of Collections Q1 27 94.48 99.08 86.98 89.57 88.43 88.62 22.48 23
Slide 21: Insurance Income as a Corporate Agent
Insurance Income as a Corporate Agent Total Insurance Income (Q1) • 3 Active Insurance Partners ₹ 2.47 Cr Go Digit ICICI Lombard Across Assist ₹ 2.42 Cr ₹ 0.01 Cr ₹ 0.04 Cr Corporate Agent Commission Corporate Agent Commission Corporate Agent Commission
Slide 22: Liability Analysis
Liability Analysis 21
Slide 23: Shareholding Pattern as on June 30, 2026
Shareholding Pattern as on June 30, 2026 7.01% Promoters 24.37% Corporates 63.33% 5.29% Public Others
Slide 24: Credit Ratings
Credit Ratings Bank Lines CRISIL Rating AA-/Stable Non-Convertible CRISIL Rating Debentures AA-/Stable CRISIL Rating Fixed Deposits AA-/Stable Principal Protected CRISIL Rating Market Linked Debenture AA-/Stable CRISIL Rating Commercial Paper A1+ ESG Impact Rating Score 74 Rating Symbol: Good ESG Im
Slide 25: Banking, NBFCs & Marquee Partners
Banking, NBFCs & Marquee Partners
Slide 26: Changes in Overall Borrowing Cost Q1-26 V/S Q1-27
Changes in Overall Borrowing Cost Q1-26 V/S Q1-27 (Y-o-Y) Overall Changes in Borrowing Rates Q1 - 26 Q1 - 27 Changes 10.74 % 10.31 % 0.43% Changes in Overall Cost on Bank Loans Changes in Overall cost on PTC (Incl. Co- Lending) Q1 - 26 Q1 - 27 Changes Q1 - 26 Q1 - 27 Changes 10.73 % 9.88% 0.85% 10.0
Slide 27: Public Deposits
PUBLIC DEPOSITS ₹. In Crores Balance as on Tenure 30.06.2026 1 year 14.72 Q1 FY 26-27 Q1 FY 26-27 2 Year 17.30 New Deposits Deposits 3 Year 42.70 Collection Renewed 4 year 4.21 ₹ 17.31 Crs ₹ 1.01 Crs 5 year 13.35 Total 92.29 Deposits Growth 113 % Y-o-Y PUBLIC DEPOSIT PORTFOLIO – JUNE 2026 5 year 1 y
Slide 28: Structural Liquidity as on 30/06/2026
Structural Liquidity as on 30/06/2026 ₹. In Crores 970.99 890.05 881.43 789.00 346.77 278.18 166.82 163.32 180.22 206.74 89.80 76.88 119.43 23.12 1-7 days 8-14 days 15 days-1 month 1-2 months 2-3 months 3-6 months 6-12 months Inflow Outflow 1-7 days 8-14 days 15 days-1 month 1-2 months 2-3 months 3-
Slide 29: Liquidity Position
Liquidity Position ₹. In Crores MUTHOOT CAPITAL SERVICES LIMITED LIQUDITY POSITION FOR Q2 FY 26-27 Particulars Jul-26 Aug-26 Sep-26 Q2 FY 26-27 Opening Balance 317.80 262.73 275.99 317.80 Inflows New Borrowings 208.47 292.50 352.50 853.47 WCDL/CC Rollover 100.00 20.00 80.00 200.00 EMI Repayments inc
Slide 30: Investments & LCR
Investments & LCR YIELD % Investments Value O/s Yield % SLR Investment 12.40 6.39% Fixed Deposit 6.52% Collateral Deposit 6.51% PTC Investments 9.73 11.00% SLR Deposit 7.28% SLR Deposit 3.13 7.28% PTC Investments 11.00% Collateral Deposit with Bank 78.57 6.51% SLR Investement 6.39% Fixed Deposit wit
Slide 31: Borrowing Profile & New Fundings
Borrowing Profile & New Fundings (Q4-26 V/S Q1-27) Total Borrowings as Additional Facilities of 30th June 2026 Q4-26 V/S Q1-27 Q4 FY 25 - 26 Q1 FY 26 - 27 ₹ 3318.36 Cr Term Loan Term Loan ➢ Banks / FI : ₹ 1338.30 Cr ₹ 160 Cr ₹ 195 Cr CP Q4 FY 26 - 9.17 % NCD ➢ NCD : ₹ 1164.00 Cr ₹ 50 Cr ROI ₹ 150 Cr
Slide 32: Performance Analysis
Performance Analysis ] ia eS mm
Slide 33: Operational Highlights
Operational Highlights ₹ 3,297 Cr ₹ 4,079 Cr ₹ 3,311 Cr ₹ 564.98 Cr AUM Balance Sheet Size Total Borrowings Q1 Disbursements -1.60% QoQ +1% QoQ 81% of BS -0.73% QoQ ₹ 7.95 Cr ₹ 678 Cr 21% 9.6% PAT (Q1) Shareholders' Fund Portfolio Yield Borrowing Cost +58% QoQ +1% QoQ Stable CRISIL AA- ₹ 4.94 5,77,8
Slide 34: Financial Results Q1 FY27
GNPA 3.94% 182 bps Y-o-Y AUM NNPA (Inc Managed Book) 2.36% ₹DEBT 3,379Cr BLUE WHEEL EQUITY 4%RATIO Y-o-Y 34 bps Y-o-Y Disbursement FINANCIAL RESULTS Q1 FY 27 Q1 – ₹ 565 Cr DEBT EQUITY PBT RATIO Q1 : ₹ 10.85 Cr 4.88 x 276% Y-o-Y CRAR 22.07
Slide 35: Don't Just Soch Karo Blue Soch
DON’T JUST SOCH KARO BLUE SOCH 34
Muthoot Capital Services — Q1 FY27 Earnings Presentation on 6ix