Muthoot Finance Ltd · NSE:MUTHOOTFIN
Muthoot Finance — Q4 FY2025 Earnings Presentation
108 slides from Muthoot Finance's earnings presentation, March 2025
Slide 1: Financial Results Q4 FY 2025
Financial Results Q4 FY 2025 March 2025
Slide 2: 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 3: 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 66.13 Muthoot Money Limited Gold Loans, Vehi
Slide 4: ₹1,22,000+ Crore Consolidated Loan AUM
₹ 1,22,000+ CRORE CONSOLIDATED LOAN AUM #TRA’s Brand Trust Report 3
Slide 5: Standalone Loan AUM Crosses Golden Milestone
STANDALONE LOAN AUM CROSSES GOLDEN MILESTONE OF RS 1 LAKH CRORE #TRA’s Brand Trust Report 4
Slide 6: Gold Loan AUM Crosses Historic Milestone
GOLD LOAN AUM CROSSES HISTORIC MILESTONE OF RS 1 LAKH CRORE 5
Slide 7: Key Performance Metrics for FY'25
Key Performance metric for FY’25 Consolidated Loan Standalone Loan Gold jewellery kept New customers AUM AUM as security added 1,22,181 Cr. 1,08,648 Cr. 208 tonnage 17.99 Lacs Vs 89,079 Cr. in FY24 Vs 75,827 Cr. in FY24 Vs 188 tonnage in FY24 Vs 15.60 Lacs in FY24 37% 43% 11% 15% 67
Slide 8: Performance Highlights for the Year Ended Mar 31, 2025
Performance highlights for the year ended Mar 31, 2025 Highest Ever Consolidated Loan AUM: 37% YoY increase at ₹ 1,22,181 Crores Highest Ever Standalone Loan AUM: 43% YoY increase at ₹ 1,08,648 Crores Highest Ever Consolidated Profit After Tax in any Year: 20% YoY increase at ₹ 5352 Crores Highest E
Slide 9: Performance Highlights for the Year Ended Mar 31, 2025
Performance highlights for the year ended Mar 31, 2025 Highest Ever Gold Loan Disbursement to New Customers in any year: ₹ 21,888 Crores to 17,99,767 Customers All Time High Interest Collection in any Year: ₹ 15,586 Crores Highest Ever quantity of Gold held as security in our lockers: 208 Tonnes Hig
Slide 10: Consolidated Loan AUM 1,22,181 Crores
CONSOLIDATED LOAN AUM AS ON MAR 31, 2025 1,22,181 Crores HIGHEST EVER CONSOLIDATED LOAN AUM 37% YoY INCREASE AT AS ON MAR 31, 2024 89,079 Crores 1,22,181 Crores 9
Slide 11: Standalone Loan AUM 1,08,648 Crores
STANDALONE LOAN AUM AS ON MAR 31, 2025 1,08,648 Crores HIGHEST EVER STANDALONE LOAN AUM 43% YoY INCREASE AT AS ON MAR 31, 2024 75,827 Crores 1,08,648 Crores 10
Slide 12: Consolidated Profit After Tax 5,352 Crores
CONSOLIDATED PROFIT AFTER TAX YEAR ENDED MAR 31,2025 5,352 Crores HIGHEST EVER CONSOLIDATED PROFIT AFTER TAX YEAR ENDED MAR 31,2024 20% YoY INCREASE AT 4,468 Crores 5,352 Crores 11
Slide 13: Standalone Profit After Tax 5,201 Crores
STANDALONE PROFIT AFTER TAX YEAR ENDED MAR 31,2025 5,201 Crores HIGHEST EVER STANDALONE PROFIT AFTER TAX IN ANY YEAR 28% YoY INCREASE AT YEAR ENDED MAR 31,2024 4,050 Crores 5,201 Crores 12
Slide 14: Gold Loan AUM 1,02,956 Crores
GOLD LOAN AUM AS ON MAR 31, 2025 1,02,956 Crores HIGHEST EVER GOLD LOAN AUM AS ON MAR 31, 2024 41% YOY INCREASE AT 72,878 Crores 1,02,956 Crores 13
Slide 15: Average Gold Loan AUM per Branch
AVERAGE GOLD LOAN AUM PER BRANCH AS ON MAR 31, 2025 21.21 Crores HIGHEST EVER AVERAGE GOLD LOAN AUM PER BRANCH AS ON MAR 31, 2024 15.01 Crores 21.21 Crores 14
Slide 16: Gold Loan Disbursement to New Customers
GOLD LOAN DISBURSEMENT TO NEW CUSTOMERS AS ON MAR 31, 2025 21,888 Crores HIGHEST EVER GOLD LOAN DISBURSEMENT TO NEW CUSTOMERS IN ANY YEAR AS ON MAR 31, 2024 21,888 Crores to 16,415 Crores 17,99,767 Customers 15
Slide 17: Interest Collection 15,586 Crores
INTEREST COLLECTION YEAR ENDED MAR 31,2025 15,586 Crores ALL TIME HIGH INTEREST COLLECTION IN ANY YEAR 15,586 Crores 16
Slide 18: Gold Jewellery Held as Security 208 Tonnes
GOLD JEWELLERY HELD AS SECURITY IN OUR LOCKERS AS ON MAR 31, 2025 208 Tonnes HIGHEST EVER QUANTITY OF GOLD HELD AS SECURITY AS ON MAR 31, 2024 188 Tonnes 208 Tonnes 17
Slide 19: Dividend ₹26 per Equity Share
DIVIDEND YEAR ENDED MAR 31,2025 ₹ 26 per Equity Share of Face Value ₹ 10 HIGHEST EVER DIVIDEND IN ANY YEAR 260% AT 26 per Equity Share 18
Slide 20: International Credit Rating Upgrades
INTERNATIONAL CREDIT RATING UPGRADES S&P Rating- BB+/B Moody’s Rating- Ba1 S&P Rating- BB/B REAFFIRMING STRENGTH OF Moody’s Rating- Ba2 BUSINESS MODEL 19
Slide 21: Multiple Long-term Capabilities Developed to Build Muthoot of the Future
Multiple long-term Capabilities developed to build “Muthoot of the Future” Advanced Analytics Implementation of AA-ML models addressing diverse use cases across Sales, Collections, Risk and more Modern Talent & Hiring New-age Centers of Excellence set up and respective teams onboarded. Regional Lear
Slide 22: Advanced Analytics: Long-term Capabilities Built
• Advanced Analytics: Multiple long-term capabilities have been built across the foundational pillars 1 2 3 Set-up of Analytics Advanced Analytics Models Data Enrichment Centre of Excellence Established Centralized Analytics Developed AA-ML models Segmentation Model for Organization Structure
Slide 23: Modern Talent & Hiring: Long-term Capabilities
• Modern Talent & Hiring: Multiple long-term capabilities have 1 Set-up of Established Omnichannel and Call Centre, Risk, Analytics, Digital and Collections verticals organization been built across structure Revamped organization structure to include multiple project managers and squad owners th
Slide 24: Portfolio Risk: Long-term Capabilities Built
• Portfolio Risk: Multiple long-term capabilities have been built across the foundational pillars 1 Set-up of Risk Centre of Excellence Established Centralized Risk Organization Structure to cater all businesses Set-up of Early Warning Signal trigger on account level to control the delinquencies
Slide 25: Collections: Long-term Capabilities Built
• Collections: Multiple long-term capabilities have been built across the foundational pillars 1 2 3 Set-up of Collections Collections Strategy Data Enrichment Centre of Excellence Partner with external data Advanced analytics models for Established Centralized sources for alternate addresses,
Slide 26: Sunheri Soch: Unleashing Bharat's True Wealth
SUNHERI SOCH: Muthoot Finance has played a transformative role in India’s Unleashing Bharat’s True financial landscape by helping millions of customers turn their Wealth by Unlocking dreams into reality idle-lying Gold Fueling Aspirations: Helping millions turn their gold into growth capital for b
Slide 27: Sunheri Soch Testimonial-led Marketing Campaign
SUNHERI SOCH testimonial-led Marketing Campaign has become a nation-wide Movement - Empowering Dreams, Transforming Lives Inspiring, successful & real-life testimonials of actual Muthoot Finance Gold Loan customers who realized their dreams and transformed their lives by availing a gold loan from us
Slide 28: Sunheri Soch Campaign Reach
Over 3 impactful seasons, SUNHERI SOCH marketing campaign continues to transform the lives of countless Indians & fuelling their dreams…. 6,870+ 27 additional inspiring customer top of the league real-life testimonials received of life customer successes identified transforming successes & narrated
Slide 29: The Group: Snapshot of Performance
THE GROUP Snapshot of performance YoY FY 2025 FY 2024 (%) Group Branch Network (Nos) 7,391 6,541 13 Consolidated Loan Assets Under Management* of the Group (₹ in million) 12,21,809 890,786 37 Consolidated Profit after tax of the Group (₹ in million) 53,524 44,676 20 Contribution in the Consolidated
Slide 30: The Group: Loan AUM of Group Companies
THE GROUP Loan Assets Under Management* of the Group (₹ in millions) Mar-25 Mar-24 YoY (%) Muthoot Finance Limited 10,86,478 7,58,270 43 Muthoot Homefin (India) Limited 29,846 20,353 47 Belstar Microfinance Limited 79,699 1,00,232 (20) Muthoot Money Limited 39,027 11,227 248 Asia Asset Finance PLC 9
Slide 31: The Group: Standalone Profit of Group Companies
THE GROUP Standalone Profit of Group Companies (₹ in millions) FY 2025 FY 2024 Muthoot Finance Limited 52,008 40,497 Muthoot Homefin (India) Limited 395 185 Muthoot Insurance Brokers Private Limited 364 418 Belstar Microfinance Limited 464 3,399 Muthoot Money Limited 121 46 Asia Asset Finance PLC 12
Slide 32: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (₹ in millions) Particulars Mar-25 Mar-24 ASSETS Financial assets Cash and cash equivalents 81,671 60,373 Bank Balance other than above 1,789 2,347 Derivative Financial Instruments - - Trade Receivables 119 178 Loans 12,05,779 8,81,872 Investments 24,
Slide 33: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (₹ in millions) Particulars Mar-25 Mar-24 LIABILITIES Financial Liabilities Derivative Financial Instruments 939 139 Trade Payables 1,371 1,439 Other Payables 1,617 1,412 Debt Securities 2,39,862 1,74,762 Borrowings(other than Debt securities) 7,45,04
Slide 34: Consolidated Financial Results
Consolidated Financial Results (₹ in millions) YoY Particulars FY 2025 FY 2024 Q4 FY 2025 Q3 FY 2025 Q2 FY 2025 Q1 FY 2025 (%) Income Interest Income 1,96,629 1,45,457 35 54,658 50,673 47,815 43,483 Service Charges 3,035 2,659 14 902 592 782 759 Sale of Services 72 89 (19) 16 16 19 20 Other Income 1
Slide 35: 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 36: MFIN - A Glimpse
MFIN - A GLIMPSE 29 208 tonnes States/Union territory presence Gold jewellery kept as security 4,800+ 100,000+ Pan-India branches Retail investor base across debenture and subordinated debt portfolio 29,000+ 200,000+ Team members Customers served every day ₹ 10,86,478 mn Loan Assets Under Management
Slide 37: Shareholding Pattern
SHAREHOLDING PATTERN Strong promoter interest in business with 73% stake NSE Ticker 23.37 3.28 MUTHOOTFIN (%) Shareholding as on March 31, 2025 BSE Ticker Promoter & Promoter group 533398 FII, FC, MF & Others Market Capitalisation Public (as on March 31,2025) ₹ 9,56,207 million 73.35 36
Slide 38: 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 37
Slide 39: Board of Directors – Independent Directors
BOARD OF DIRECTORS – INDEPENDENT DIRECTORS (2/2) Joseph Korah Jose 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 38
Slide 40: Dividend Payout
DIVIDEND PAYOUT Delivering consistent returns to stakeholders (%) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 FY 2018 FY 2017 Dividend (% )* 260 240 220 200 200 150 120 100 60 Dividend payout (₹ in millions) 10,438 9,635 8,832 8,027 8,024 7,249 5,796 4,813 2,885 Dividend Payout Ratio (%)
Slide 41: Geographical Presence
GEOGRAPHICAL PRESENCE A strong presence of 4855 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 230 Uttar Pradesh 150 200 Assam 37 Bihar 2
Slide 42: Digital Initiatives
DIGITAL INITIATIVES Digital convenience for new gen & Millennium Customer acquisition PoS Terminals Direct Credit Facility • Enables swiping of Debit • Loan proceeds credited to bank cards issued by banks account • Swiping charges for • NEFT/RTGS/IMPS/UPI mode of bank Interest payments transfer waiv
Slide 43: Digital Initiatives: iMuthoot Mobile App
DIGITAL INITIATIVES iMuthoot Mobile App • Launched in Nov’16 has about 15.4M downloads, 3.3M registered Users. • Simplified registration process for new users • Revamped app homepage to simplify the ease of use and navigation on the app leading to higher Xsell • Online Gold Loan (OGL) facility avail
Slide 44: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (₹ in millions) Particulars Mar-25 Mar-24 ASSETS Financial assets Cash and cash equivalents 71,705 50,365 Bank Balance other than above 208 93 Derivative Financial Instruments - - Trade Receivables 9 10 Loans 10,86,810 7,70,014 Investments 44,991 22,683
Slide 45: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (₹ in millions) Particulars Mar-25 Mar-24 LIABILITIES Financial Liabilities Derivative Financial Instruments 939 139 Trade Payables 1,153 1,002 Other Payables 1,279 1,037 Debt Securities 2,35,413 1,63,715 Borrowings(other than Debt securities) 6,62,598
Slide 46: Revenue & Profit
REVENUE & PROFIT Standalone Financial Results (₹ in millions) YoY FY 2025 FY 2024 Growth Q4 FY 2025 Q3 FY 2025 Q2 FY 2025 Q1 FY 2025 (%) INCOME Interest Income 1,68,770 124,476 36 47,836 43,690 40,685 36,560 Other than Interest Income 2,789 2,465 13 1,049 622 577 541 Total 1,71,559 126,940 35 48,885
Slide 47: Equity
EQUITY Strong Capital Base Networth (₹ in millions) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Equity Share Capital 4,015 4,015 4,015 4,015 4,015 Other Equity 2,80,361 2,65,996 2,52,823 2,39,793 2,38,888 Total 2,84,376 2,70,011 2,56,838 2,43,808 2,42,903 46
Slide 48: Assets
ASSETS Core focus continues to be gold loan Loan Assets under management* Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Growth Growth QoQ (₹ in million) (₹ in million) (₹ in million) (₹ in million) (₹ in million) YoY (%) (%) Loan assets under 10,86,478 9,74,872 9,01,965 8,43,238 7,58,270 43 11 management Break
Slide 49: Liabilities
LIABILITIES Stable sources of funding* Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Growth Growth YoY (₹ in million) (₹ in million) (₹ in million) (₹ in million) (₹ in million) QoQ (%) (%) Secured Non-Convertible Debentures - - - - - - - (Muthoot Gold Bonds) Secured Non-Convertible Debentures- 2,35,516 2,04,5
Slide 50: Gold Loan Portfolio
GOLD LOAN PORTFOLIO Gaining scale over the years Gold Loan Assets Under Management* (₹ in billions) 1,100 1030 1,000 930 900 862 809 800 729 700 619 600 575 519 500 408 400 336 272 288 300 233 243 200 100 0 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Sep-24 Dec-24 Ma
Slide 51: Gold Holding
GOLD HOLDING Carrying the trust of millions of our customers Gold jewellery kept as security (In tonnes) 250 202 208 194 199 200 188 187 176 171 180 169 155 142 149 150 131 118 100 50 0 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 50
Slide 52: 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-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 East 6 7 7 8 8 9 9 9 10 10 10 10 10 10 West 15 17 18 19 20 19 19 19 19 19 20 20 20 20 North
Slide 53: Productivity
PRODUCTIVITY Widening presence with increasing gold loan business per branch Average Gold Loan Per Branch * (₹ in millions) 265 212.06 215 191.5 177.5 166.7 165 145.0 150.1 130.6 124.6 115 112.1 89.3 66.7 74.9 63.2 65 50.6 55.0 56.9 15 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 M
Slide 54: Highly Liquid Portfolio (1/2)
HIGHLY LIQUID PORTFOLIO (1/2) Disbursements and Collections (₹ in billions) 338 304 245 242 219 219 179 165 150 151 137 133 120114 104 104 99 94 88 81 75 84 55 54 61 58 43 42 48 45 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Avg Monthly Disburse
Slide 55: Highly Liquid Portfolio (2/2)
HIGHLY LIQUID PORTFOLIO (2/2) Efficient Collection 100% 66% 60% 61% 60% 66% 62% 62% 67% 64% % of collections to disbursement 80% 60% 40% 20% 0% FY16 FY17 FY18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 1m 2m 3m 4m 5m 6m Collections in 6 months of disbursements made in respective periods A high proportion
Slide 56: Safety of Our Gold Loan Portfolio
SAFETY OF OUR GOLD LOAN PORTFOLIO Lender’s Perspective & Borrower’s Perspective Mar- Dec- Sep- Jun- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- 25 24 24 24 24 23 22 21 20 19 18 17 Gold Loan assets (₹ in Billions) 1,030 930 862 809 729 619 575 519 407 336 288 272 Quantity of Gold content in 208 202 199 1
Slide 57: Customer Base (1/2)
CUSTOMER BASE Highly churning customer base (1/2) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Dec-23 Sep-23 Jun-23 Mar-23 Gold Loan AUM 10,29,559 9,29,636 8,61,636 8,09,219 7,28,785 6,92,214 6,75,171 6,60,388 6,18,753 (₹ in Millions) QoQ % change in Gold 11 8 6 11 5 3 2 7 9 Loan AUM No. of Loan Accounts 1,02
Slide 58: Customer Base (2/2)
CUSTOMER BASE Highly churning customer base (2/2) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Dec-23 Sep-23 Jun-23 Mar-23 Above Gold Loan AUM and No. of customers includes: Fresh loans to inactive customers during the quarter in Gold Loan AUM No. of customers 3,97,150 3,72,566 4,43,335 4,63,390 4,38,350 4,08
Slide 59: Yield on Loan Assets and NIM
YIELD ON LOAN ASSETS AND NIM Yearly (%) Quarterly (%) 26.00 26.00 24.00 24.00 22.21 23.03 22.17 22.00 21.43 22.00 21.23 20.06 20.00 19.31 20.00 19.72 17.94 18.57 18.62 18.65 18.00 18.49 18.26 18.00 17.7 16.00 15.29 15.53 16.00 14.24 14.00 14.2 12.74 13.03 14.00 12.00 11.23 11.6 12.00 11.27 11.54 11.
Slide 60: Interest Spread
INTEREST SPREAD Yearly (%) Quarterly (%) 26.00 26.00 24.00 22.21 23.03 24.00 22.17 22.00 21.43 22.00 21.23 20.00 19.31 19.72 20.06 18.49 20.00 17.94 18.57 18.65 18.00 18.62 18.26 18.00 17.7 16.00 14.04 16.00 14.00 13.45 13.49 14.00 11.99 12.00 10.93 10.8 10.5310.9 12.23 12.00 10.00 9.69 9.45 9.59 9.
Slide 61: 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 9.00 7.99 8.00 7.24 8.00 7.00 6.36 6.19 7.00 5.93 5.84 5.85 6.00 6.00 5.81 5.74 5.39 5.00 5.7 5.00 4.47 4.00 4.00 3.32 3.03 3.00 3.00 Q4 FY Q3 FY Q2 FY Q1 FY Mar-15 Mar-16 Mar-17 Mar-18*Mar
Slide 62: Impairment of Loan Assets
IMPAIRMENT OF LOAN ASSETS Stage III Loans Assets and ECL Provision (₹ in millions) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Stage I Loan Assets 10,44,433 9,27,604 8,51,124 7,83,009 7,19,867 Stage II Loan Assets 5,042 6,089 12,034 26,697 13,557 Stage III Loan Assets 37,004 41,179 38,807 33,532 24,845 % Sta
Slide 63: Liability Mix
LIABILITY MIX Maintaining a diversified funding profile* (%) 1 7 Secured Non-Convertible Debentures – Listed – ₹ 235,516 mn (26%) 13 26 Borrowings from Banks/FIs – ₹ 476,060 mn (53%) Subordinated Debt – Listed – ₹ 187 mn (0%) External Commercial Bonds – ₹ 119,665 mn (13%) 53 Commercial Paper – ₹ 62,
Slide 64: 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 65: 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 66: Break-up of Total Income
BREAK-UP OF TOTAL INCOME Interest Income (₹ in millions) Yearly Quarterly 1,80,000 1,68,770 1,80,000 1,50,000 1,50,000 1,24,476 1,20,000 1,09,560 1,20,000 1,03,285 1,03,686 90,000 85,644 90,000 67,570 56,546 62,021 60,000 47,836 60,000 43,690 40,685 42,703 48,130 36,560 30,000 30,000 0 0 Q4 FY Q3 FY
Slide 67: 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 5.1 5.50 5.01 4.89 4.94 5.00 5.00 4.50 3.92 3.92 4.50 4.24 4.00 3.62 3.64 4.00 3.89 3.91 3.48 3.75 3.50 3.50 3.00 2.50 3.00 Mar-15
Slide 68: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (₹ in million) Quarterly (₹ in millions) Q4 FY Q3 FY Q2 FY Q1 FY Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* 2025* 2025* 2025* 2025* Employee Benefit 15,807 12,816 11,044 9,487 9,270 9,657 8,415 7,393 4,388 4,014 3,706 3,699 Expenses Rent 2,9
Slide 69: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (%) Quarterly (%) Q4 FY Q3 FY Q2 FY Q1 FY Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* 2025* 2025* 2025* 2025* Employee Benefit 43 49 51 49 49 52 54 47 44 43 43 43 Expenses Rent 8 10 11 12 12 12 13 12 8 8 9 8 Advertisement & Publicity 4 5 7 6
Slide 70: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) Q4 FY Q3 FY Q2 FY Q1 FY (Based on Income) Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* 2025* 2025* 2025* 2025* Interest expense to Gross 37.47 36.67 35.08 34.56 34.92 32.00 32.51 30.50 38.45 37.18 37.58 36.42 Income Selling, general an
Slide 71: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) (Based on Average Mar-25* Mar-24* Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Q4 FY Q3 FY Q2 FY Q1 FY Loan Assets) 2025* 2025* 2025* 2025* Interest income to avg. loan 18.49 17.94 17.70 20.06 22.17 23.03 21.63 22.21 18.57 18.62 18.65 18.26 assets Int
Slide 72: Profitability
PROFITABILITY Efforts getting rewarded Profitability at a glance (₹ in millions) Yearly PBT PAT Quarterly PBT PAT 75,000 75,000 70,706 70,000 70,000 65,000 65,000 60,000 60,000 54,488 55,000 53,094 52,008 55,000 50,065 50,000 46,664 50,000 45,000 45,000 40574 39,543 40,000 40,497 40,000 35,000 37,22
Slide 73: Networth
NETWORTH Steady capital position Share Capital and Reserves & Surplus (₹ in millions) 3,00,000 2,84,375 2,80,000 2,70,011 2,56,838 2,60,000 2,43,808 2,40,000 2,42,903 2,20,000 2,10,619 2,00,000 183,445 1,80,000 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 60,000
Slide 74: 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 28.26 27.77 30 25 21.76 24.81 20.7 19.99 25 22.40 23.55 20 17.73 19.44 19.73 20 17.6317.86 15 15.13 14.35 10 15 5 10 Mar 15 Mar 16 Mar 17 Mar 18*Mar 19*Mar 20*Mar 21*
Slide 75: Capital Ratio
CAPITAL RATIO Maintaining capital well above the statutory requirement of 15% Capital Adequacy Ratio (%) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Capital Adequacy Ratio 23.71 25.11 26.96 27.47 30.37 Tier-I 22.95 24.37 26.21 26.73 29.61 Tier-II 0.75 0.74 0.75 0.74 0.76 74
Slide 76: Market Value Ratio
MARKET VALUE RATIO Equity market valuation ratios indicate potential for upside FY 2025 FY 2024 Q4 FY 2025 Q3 FY 2025 Q2 FY 2025 Q1 FY 2025 Earnings per share (₹) - Basic 129.54 100.88 37.56 33.96 31.16 26.87 - Diluted 129.54 100.87 37.56 33.95 31.16 26.87 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Book Val
Slide 77: Capitalisation Ratios
CAPITALISATION RATIOS Headroom for further leveraging (₹ In millions) Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Outside Liabilities 9,28,113 8,13,058 7,48,344 6,81,785 6,07,381 Cash and Cash Equivalents & Bank 90,378 70,295 66,053 44,866 50,365 Balances Tangible Networth 2,84,342 2,69,973 2,56,804 2,43,772
Slide 78: Team Strength
TEAM STRENGTH Groomed human capital over the years to meet growing business requirements (No. of Employees) 30000 29221 28758 29000 28478 28286 27961 28000 27273 27000 26716 26000 25911 25554 25000 24205 24224 24000 22882 23000 23455 22781 22000 21000 20000 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
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Slide 80: Belstar Microfinance Limited – An Overview
BELSTAR MICROFINANCE LIMITED – AN OVERVIEW As of March 2025 , Muthoot Finance holds 66.13% 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 effectiv
Slide 81: Key Financial Parameters
Key Financial Parameters (₹ in millions) Particulars FY 2025 FY 2024 Number of Branches 1,281 1,014 Number of Employees 13,076 10,559 Loan AUM (₹) 79,699 1,00,232 Loan Assets (₹) 71,869 85,614 Capital Adequacy Ratio (%) 25 21 Total Revenue (₹) 21,250 18,514 Total Expense (₹) 20,741 14,095 Profit Bef
Slide 82: Muthoot Homefin
&) Muthoot Homefin
Slide 83: 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 84: Loan AUM 2,985 Crores
LOAN AUM AS ON MAR 31, 2025 2,985 Crores INCREASE IN LOAN AUM 47% YoY AT AS ON MAR 31, 2024 2,035 Crores 2,985 Crores 83
Slide 85: Loan Disbursement 1,242 Crores
LOAN DISBURSEMENT YEAR ENDED MAR 31, 2025 1,242 Crores INCREASE IN LOAN DISBURSEMENT YEAR ENDED MAR 31, 2024 52% YoY AT 815 Crores 1,242 Crores 84
Slide 86: Profit After Tax 39 Crores
PROFIT AFTER TAX YEAR ENDED MAR 31, 2025 39 Crores INCREASE IN PROFIT AFTER TAX 114% YoY AT YEAR ENDED MAR 31, 2024 18 Crores 39 Crores 85
Slide 87: Business Performance
Business Performance (₹ in millions) Particulars FY 2025 FY 2024 Number of branches 163 118 Number of Sales Offices 163 118 Number of Employees 924 601 Loan AUM (₹) 29,846 20,353 Loan Assets (₹) 25,706 17,073 Capital Adequacy Ratio (%) 23 38 Total Revenue (₹) 3,535 2,188 Total Expense (₹) 2,994 1,93
Slide 88: Business Performance
Business Performance (₹ in millions) Particulars FY 2025 FY 2024 Disbursement (₹) 12,419 8,146 Borrowings (₹) 21,028 13,147 Debt Equity Ratio (%) 4.08 2.76 Yield on Advances (%) 13.30 13.50 Interest Spread (%) 4.39 4.69 NIM (%) 5.83 7.35 Cost to Income Ratio (%) 42.21 51.61 Return on Assets (ROA) (%
Slide 89: Financial Highlights and Growth
• Disbursements of INR 3619 mn in Q4 FY 2025: AUM INR 29846 mn as on March 31, 2025: Loan Book INR 25706 mn as on March 31, 2025: • Average Ticket Size as on March 31, 2025 : INR 1.17 mn Financial • Business Presence: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh , Kerala, Andhra Pradesh, Telangan
Slide 90: Muthoot Money
& Muthoot Money 89
Slide 91: Our Subsidiary 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. As of March 31, 2025, MML operations are spread over 21 States and
Slide 92: Loan AUM 3,903 Crores
LOAN AUM AS ON MAR 31, 2025 3,903 Crores INCREASE IN LOAN AUM 248% YoY AT AS ON MAR 31, 2024 1,123 Crores 3,903 Crores 91
Slide 93: Total Revenue 430 Crores
TOTAL REVENUE YEAR ENDED MAR 31, 2025 430 Crores INCREASE IN TOTAL REVENUE YEAR ENDED MAR 31, 2024 241% YoY AT 126 Crores 430 Crores 92
Slide 94: Profit After Tax 12 Crores
PROFIT AFTER TAX YEAR ENDED MAR 31, 2025 12 Crores INCREASE IN PROFIT AFTER TAX YEAR ENDED MAR 31, 2024 162% YoY AT 5 Crores 12 Crores 93
Slide 95: Key Financial Parameters
OUR SUBSIDIARY Key Financial Parameters (₹ in millions) Particulars FY 2025 FY 2024 Number of branches 992 470 Number of Employees 4,437 2,130 Loan AUM (₹) 39,027 11,227 Capital Adequacy Ratio(%) 25 42 Total Revenue (₹) 4,299 1,261 Total Expense (₹) 4,138 1,199 Profit Before Tax (₹) 162 62 Profit Af
Slide 96: Muthoot Insurance Brokers
&) Muthoot Insurance Brokers 95
Slide 97: 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 98: Key Business Parameters, Key Financial Parameters
Key Business Parameters (₹ in millions) Particulars FY 2025 FY 2024 Premium Collection (₹ ) 5,885 6,560 Number of Policies 25,09,553 37,65,644 Key Financial Parameters (₹ in millions) Particulars FY 2025 FY 2024 Total Revenue (₹) 1,660 1,528 Total Expense (₹) 1,171 950 Profit Before Tax (₹) 490 578
Slide 99: Asia Asset Finance
lp INSVA, ASSET RIINAINGE PEC A finance compony with a golden near? 98
Slide 100: 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 March 31,2025, total holding in AAF stood at 91 million equity shares representing 72.92% of their total capital. The loan portfolio stands
Slide 101: Loan AUM LKR 3,133 Crores
LOAN AUM AS ON MAR 31, 2025 LKR 3,133 Crores INCREASE IN LOAN AUM 52% YoY AT AS ON MAR 31, 2024 LKR 2,056 Crores LKR 3,133 CRORES 100
Slide 102: Profit After Tax LKR 44 Crores
PROFIT AFTER TAX YEAR ENDED MAR 31, 2025 LKR 44 Crores INCREASE IN PROFIT AFTER YEAR ENDED MAR 31, 2024 TAX 28% YoY AT LKR 34 Crores LKR 44 CRORES 101
Slide 103: Branch Network 100 Branches
BRANCH NETWORK AS ON MAR 31, 2025 100 Branches INCREASE IN BRANCH AS ON MAR 31, 2024 NETWORK 18% YoY AT 85 Branches 100 BRANCHES 102
Slide 104: 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 103
Slide 105: Branch Network
BRANCH NETWORK AAF has operations in various parts of Sri Lanka providing the best services and easy access to clients 104
Slide 106: Key Financial Parameters
Key Financial Parameters (LKR in millions) Particulars FY 2025 FY 2024 LKR/INR 0.28910 0.277406 Number of branches 100 85 Number of Employees 913 564 Loan AUM (LKR) 31,334 20,564 Capital Adequacy Ratio (%) 28 21 Total Revenue (LKR) 6,949 6,603 Total Expense (LKR) 6,313 6,230 Profit Before Tax (LKR)
Slide 107: Other Subsidiaries
OTHER SUBSIDIARIES MUTHOOT ASSET MANAGEMENT PRIVATE LIMITED (₹ In millions) FY 2025 FY 2024 Networth 1,280 1,207 MUTHOOT TRUSTEE PRIVATE LIMITED (₹ In millions) FY 2025 FY 2024 Networth 11 11 106
Slide 108: Thank You
Thank You