Muthoot Finance Ltd · NSE:MUTHOOTFIN
Muthoot Finance — Q2 FY2024 Earnings Presentation
95 slides from Muthoot Finance's earnings presentation, Nov 9, 2023
Slide 1: Exchange filing cover letter
November 09, 2023 Ref: SEC/MFL/SE/2023/4917 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 Q2 FY 2024
Financial Results Q2 FY 2024 September 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 Half Year Ended Sept 30, 2023
PERFORMANCE HIGHLIGHTS HALF YEAR ENDED SEPT 30, 2023 Increase in Consolidated Loan Portfolio: 24% YoY at ₹ 79,493 Crores Highest ever Gross Gold Loan Advance in any 1st Half of a Year: ₹ 84,742 Crores Highest ever Gold Loan Advance to new customers in any 1st Half of a Year : ₹ 8,109 Crores Highest
Slide 6: Consolidated Loan Portfolio
CONSOLIDATED LOAN PORTFOLIO AS ON SEPT 30, ₹ 79,493 Crores 2023 INCREASE IN CONSOLIDATED LOAN PORTFOLIO AS ON 24% YoY AT SEPT 30, ₹ 64,356 Crores ₹ 79,493 CRORES 2022 4
Slide 7: Gross Gold Loan Advance
GROSS GOLD LOAN ADVANCE AS ON SEPT 30, 2023 ₹ 84,742 Crores HIGHEST EVER GROSS GOLD LOAN ADVANCE IN ANY 1ST HALF OF A YEAR 84,742 CRORES 5
Slide 8: New Customer Acquisition (New KYC)
NEW CUSTOMER ACQUISITION (NEW KYC) AS ON SEPT 30, 8,109 Crores 2023 HIGHEST EVER GOLD LOAN ADVANCE TO NEW CUSTOMERS IN ANY 1ST HALF OF A YEAR 8,109 CRORES 6
Slide 9: Gold Loan Portfolio
GOLD LOAN PORTFOLIO AS ON SEPT 30, 2023 ₹ 67,517 Crores INCREASE IN GOLD LOAN PORTFOLIO 20% YoY AT AS ON 11,016 CRORES SEPT 30, ₹ 56,501 Crores 2022 7
Slide 10: Half Year Gold Loan Portfolio Growth
HALF YEAR GOLD LOAN PORTFOLIO GROWTH AS ON SEPT 30, 67,517 Crores 2023 HIGHEST EVER GOLD LOAN GROWTH IN ANY AS ON 1ST HALF OF A YEAR MAR 31, 61,875 Crores 2023 5,642 CRORES 8
Slide 11: Consolidated Profit After Tax
CONSOLIDATED PROFIT AFTER TAX HALF YEAR ENDED 2,140 Crores SEPT 30, 2023 INCREASE IN CONSOLIDATED PROFIT AFTER TAX 24% YoY AT HALF YEAR 2,140 CRORES ENDED 1,727 Crores SEPT 30, 2022 9
Slide 12: Standalone Profit After Tax
STANDALONE PROFIT AFTER TAX HALF YEAR ENDED SEPT 30, 1,966 Crores 2023 INCREASE IN STANDALONE PROFIT AFTER TAX HALF 18% YoY AT YEAR ENDED 1,966 CRORES 1,669 Crores SEPT 30, 2022 10
Slide 13: Interest Collection
INTEREST COLLECTION HALF YEAR ENDED 5,447 Crores SEPT 30, 2023 ALL TIME HIGH INTEREST COLLECTION IN ANY HALF YEAR 5,447 CRORES 11
Slide 14: The Group: Snapshot of performance
THE GROUP Snapshot of performance YoY H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 (%) Group Branch Network (Nos) 6,169 5,750 6,169 5,897 7 5,838 Consolidated Loan Assets Under Management* of 794,934 643,556 794,934 767,987 24 714,968 the Group (` in million) Consolidated Profit after tax of
Slide 15: The Group: Loan Assets Under Management
THE GROUP Loan Assets Under Management* of the Group (` in millions) Sep-23 Jun-23 Mar-23 Sep-22 YoY (%) Muthoot Finance Limited 690,016 676,385 632,098 572,303 21 Muthoot Homefin (India) Limited 16,157 15,007 14,381 14,197 14 Belstar Microfinance Limited 78,741 70,082 61,925 51,381 53 Muthoot Money
Slide 16: The Group: Standalone Profit of Group Companies
THE GROUP Standalone Profit of Group Companies (` in millions) H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q2 FY 2023 Q1 FY 2024 FY 2023 Muthoot Finance Limited 19,661 16,692 9,910 8,672 9,751 34,735 Muthoot Homefin (India) Limited 91 39 44 25 47 104 Muthoot Insurance Brokers Private 254 158 152 87 102 464 Lim
Slide 17: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (` in millions) Particulars Sep-23 Jun-23 Mar-23 Sep-22 ASSETS Financial assets Cash and cash equivalents 68,337 42,930 77,702 64,311 Bank Balance other than above 4,206 4,432 2,655 1,991 Derivative Financial Instruments 6 - - 1,809 Trade Receivables
Slide 18: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities (` in millions) Particulars Sep-23 Jun-23 Mar-23 Sep-22 LIABILITIES Financial Liabilities Derivative Financial Instruments 16 1,749 1,922 1,452 Trade Payables 1,216 1,165 1,341 1,762 Other Payables 730 795 817 2 Debt Securities 145,045 135,621 146,046
Slide 19: Consolidated Financial Results
Consolidated Financial Results (` in millions) H1 FY H1 FY YoY Q2 FY QoQ Q2 FY FY Particulars Q1 FY 2024 2024 2023 (%) 2024 (%) 2023 2023 Income 115,55 Interest Income 68,837 54,880 25 35,053 33,784 4 27,579 5 Service Charges 830 588 41 481 348 38 314 1,371 Sale of Services 79 52 51 54 25 117 30 113
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 29 183 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 ` 690,016 mn Loan Assets Under Management (
Slide 22: Shareholding Pattern
SHAREHOLDING PATTERN Strong promoter interest in business with 73% stake 23.27 NSE Ticker 3.38 MUTHOOTFIN (%) Shareholding as on September 30, 2023 BSE Ticker Promoter & Promoter group 533398 FII, FC, MF & Others Public Market Capitalisation (as on September 30,2023) ` 502,766 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 4745 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 146 195 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 • Enables swiping of Debit account cards issued by banks • NEFT/RTGS/IMPS/UPI mode of bank • Swiping charges for transfer Interest payments • In
Slide 28: Digital Initiatives
DIGITAL INITIATIVES Online Gold Loan (OGL) • 39.2 % of gold loan customers are transacted online. (including Paytm, PhonePe & Google Pay) iMuthoot App Muthoot Online Mobile App • Launched in Nov’16 has about 8.33m downloads and 5.5m • Our online services has now been re-branded to registered Users.
Slide 29: Digital Initiatives
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 Sep-23 Jun-23 Mar-23 Sep-22 ASSETS Financial assets Cash and cash equivalents 61,415 34,871 64,288 57,874 Bank Balance other than above 2,290 2,296 324 223 Derivative Financial Instruments 6 - - 1,809 Trade Receivables 28 33
Slide 31: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities (` in millions) Particulars Sep-23 Jun-23 Mar-23 Sep-22 LIABILITIES Financial Liabilities Derivative Financial Instruments 16 1,734 1,892 1,501 Trade Payables 1,760 1,794 1,959 1,659 Debt Securities 134,945 127,288 137,384 114,833 Borrowings(other than
Slide 32: Revenue & Profit
REVENUE & PROFIT Standalone Financial Results (` in millions) YoY QoQ H1 FY H1 FY Q2 FY Q1 FY Q2 FY Growth Growth FY 2023 2024 2023 2024 2024 2023 (%) (%) INCOME Interest Income 59,724 49,562 21 30,147 29,577 2 24,746 103,686 Other than Interest Income 1,275 566 125 589 686 (14) 289 1,751 Total 60,9
Slide 33: Equity
EQUITY Strong Capital Base Networth (` in millions) Sep-23 Jun-23 Mar-23 Sep-22 Equity Share Capital 4,015 4,014 4,014 4,014 Other Equity 217,791 207,756 206,605 188,287 Total 221,805 211,771 210,619 192,301 31
Slide 34: Assets
ASSETS Core focus continues to be gold loan Gross Loan Assets under management* Sep-23 Jun-23 Mar-23 Sep-22 Growth Growth (` in million) (` in million) (` in million) (` in million) YoY (%) QoQ (%) Gross loan assets under 690,016 676,385 632,098 572,303 21 2 management Break-up of Gross Loan Assets
Slide 35: Liabilities
LIABILITIES Stable sources of funding* Sep-23 Jun-23 Mar-23 Sep-22 Growth Growth (` in million) (` in million) (` in million) (` in million) YoY (%) QoQ (%) Secured Non-Convertible Debentures 213 357 845 1,753 (88) (40) (Muthoot Gold Bonds) Secured Non-Convertible Debentures- Listed 134,847 127,067
Slide 36: Gold Loan Portfolio
GOLD LOAN PORTFOLIO Gaining scale over the years Gold Loan Assets Under Management* (` in billions) 720 675 680 660 640 619 600 575 565 560 520 519 480 440 408 400 360 336 320 288 280 260 272 216 233 243 240 200 160 120 80 40 0 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Se
Slide 37: Gold Holding
GOLD HOLDING Carrying the trust of millions of our customers Gold jewellery kept as security (In tonnes) 200 187 180 182 183 180 176 171 177 169 160 155 142 149 134 131 140 118 120 100 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 Sep-22 Mar-23 Jun-23 Sep-23 35
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 Sep-22 Mar-23 Jun-23 Sep-23 East 5 6 6 7 7 8 8 9 9 9 9 10 10 10 West 11 13 15 17 18 19 20 19 19 19 20 19 19 19 North 19
Slide 39: Productivity
PRODUCTIVITY Widening presence with increasing gold loan business per branch Average Gold Loan Per Branch * (` in millions) 155 142.29 139.26 130.57 135 124.61 121.74 115 112.10 95 89.28 74.97 75 66.70 63.69 63.20 50.63 55.01 56.93 55 35 15 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar
Slide 40: Highly Liquid Portfolio (1/2)
HIGHLY LIQUID PORTFOLIO (1/2) Disbursements and Collections (` in billions) 179 173 91 165 156 82 132 127 112 98 104106 103101 104 100 99 87 88 87 85 81 75 69 77 68 69 70 61 55 54 58 52 52 48 45 43 41 43 42 FY15 FY16 FY17 FY18 FY19 FY20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY21 FY21 FY21 FY21 F
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 Sep-23 Jun-23 Mar-23 Sep-22 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Mar-17 Mar-16 Gold Loan assets (` in Billions) 675 660 619 565 575 519 407 336 288 272 243 Quantity of Gold content in Ornaments held as Security 183 182 180
Slide 43: Customer Base (1/2)
CUSTOMER BASE Highly churning customer base (1/2) Sep-23 Jun-23 Mar-23 Sep-22 Mar-22 Mar-21 Mar-20 Mar-19 Gold Loan AUM (` in Millions) 675,171 660,388 618,753 565,014 575,313 519,266 407,724 335,853 QoQ % change in Gold Loan 2 7 9 1 6 5 8 - AUM No. of Loan Accounts 84,94,596 83,35,866 81,46,997 81,
Slide 44: Customer Base (2/2)
CUSTOMER BASE Highly churning customer base (2/2) Sep-23 Jun-23 Mar-23 Sep-22 Mar-22 Mar-21 Mar-20 Mar-19 Above Gold Loan AUM and No. of customers includes: Fresh loans to inactive customers during the quarter in Gold Loan AUM No. of customers 428,114 412,206 401,638 402,622 427,472 432,320 352,036
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 18.08 18.00 17.65 17.38 17.93 17.29 16.00 15.53 15.29 14.24 16.00 14.00 12.74 13.03 14.00 14.20 11.38 12.00 10.84 12.00 11.58
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 17.65 18.08 17.93 18.00 18.00 17.38 17.29 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 9.24 10
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 6.00 6.09 6.00 5.80 5.96 5.90 5.82 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*Mar-19*
Slide 48: Impairment of Loan Assets
IMPAIRMENT OF LOAN ASSETS Stage III Loans Assets and ECL Provision (` in millions) Sep-23 Jun-23 Mar-23 Sep-22 Stage I Loan Assets 655,302 633,637 599,834 554,108 Stage II Loan Assets 7,075 13,958 8,278 8,637 Stage III Loan Assets 27,639 28,789 23,986 9,558 % Stage III Assets on Gross Loan Assets 4.
Slide 49: Liability Mix
LIABILITY MIX Maintaining a diversified funding profile* (%) 2 Secured Non-Convertible Debentures (Muthoot Gold Bonds) – ` 213 mn (0%) 8 Secured Non-Convertible Debentures – Listed – `134,847 mn (24%) 24 Borrowings from Banks/FIs - ` 361,740 mn (65%) Subordinated Debt – Listed - ` 741 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 85,644 80,000 80,000 56,546 62,021 67,570 60,000 59,724 60,000 53,641 49,077 49,562 42,703 48,130 40,000 30,147 40,000 24,746 29,577 20,000 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 3.62 3.50 3.35 3.50 3.13 3.00 2.99 3.00 2.50
Slide 54: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (` in million) Quarterly (` in millions) Q2 FY Q2 FY Q1 FY H1 FY H1 FY Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2023* Employee Benefit Expenses 11,044 9,487 9,270 9,657 8,415 7,393 7,280 3,074 2,583 3,226 6,300 5,298 Rent 2,
Slide 55: Break-up of Operating Expenses
BREAK-UP OF OPERATING EXPENSES Yearly (%) Quarterly (%) Q2 FY Q2 FY Q1 FY H1 FY H1 FY Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2023* Employee Benefit Expenses 51 49 49 52 54 47 48 52 59 50 51 57 Rent 11 12 12 12 13 12 12 11 14 10 11 13 Advertisement & Publicity
Slide 56: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) Q2 FY Q2 FY Q1 FY H1 FY H1 FY (Based on Income) Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 2024* 2023* 2024* 2024* 2023* Interest expense to Gross 35.08 34.56 34.92 32.00 32.51 30.50 39.92 37.62 36.06 35.15 36.40 36.79 Income Selling, general
Slide 57: Profitability Ratios
PROFITABILITY RATIOS Yearly (%) Quarterly (%) (Based on Average Loan Mar-23* Mar-22* Mar-21* Mar-20* Mar-19* Mar-18* Mar-17 Q2 FY Q2 FY Q1 FY H1 FY H1 FY Assets) 2024* 2023* 2024* 2024* 2023* Interest income to avg. loan 17.70 20.06 22.17 23.03 21.63 22.21 21.43 17.65 17.38 18.08 17.93 17.29 assets
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 50,065 46,664 40,000 45,000 39,543 35,000 40,000 40,574 35,000 37,222 30,000 30,768 34,735 26,447 30,000 25,000 28,447 30,183 22,433 25,000 19,661 20,000 20,0
Slide 59: Networth
NETWORTH Steady capital position Share Capital and Reserves & Surplus (` in millions) 2,40,000 2,21,805 2,20,000 2,10,619 2,11,771 2,00,000 1,92,301 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 50,835 40,000 20,000 0
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 30.15 28.26 27.77 30 30 24.81 25 22.40 23.55 25 18.29 18.47 18.47 17.77 19.50 19.44 20 18.19 20 17.63 15 14.35 15.13 15 10 10 5 Mar 13 Mar 14 Mar 15 Mar 16 Mar 17 Mar 18
Slide 61: Capital Ratio
CAPITAL RATIO Maintaining capital well above the statutory requirement of 15% Capital Adequacy Ratio (%) Sep-23 Jun-23 Mar-23 Sep-22 Capital Adequacy Ratio 30.31 30.03 31.77 31.96 Tier-I 29.55 29.27 31.01 31.07 Tier-II 0.76 0.76 0.76 0.89 59
Slide 62: Market Value Ratio
MARKET VALUE RATIO Equity market valuation ratios indicate potential for upside Q2 FY 2024 Q2 FY 2023 Q1 FY 2024 H1 FY 2024 H1 FY 2023 FY 2023 Earnings per share (`) - Basic 24.69 21.61 24.29 48.98 41.59 86.54 - Diluted 24.68 21.61 24.29 48.97 41.58 86.52 Sep-23 Jun-23 Mar-23 Sep-22 Book Value per s
Slide 63: Capitalisation Ratios
CAPITALISATION RATIOS Headroom for further leveraging (` In millions) Sep-23 Jun-23 Mar-23 Sep-22 Outside Liabilities 572,272 530,708 515,579 486,693 Cash and Cash Equivalents & Bank 61,680 35,136 64,428 57,904 Balances Tangible Networth 221,769 211,732 210,584 192,270 Capital Gearing 2.30 2.34 2.14
Slide 64: Team Strength
TEAM STRENGTH Groomed human capital over the years to meet growing business requirements (No. of Employees) 29000 28097 28000 27204 27273 27701 27000 26716 25911 26000 25554 24881 25012 25000 24205 24224 24000 22882 23455 23000 22781 22000 21000 20000 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Slide 65: Our Subsidiary: Asia Asset Finance PLC
OUR SUBSIDIARY ASIA ASSET FINANCE PLC A finance company with a golden heart Muthoot Finance 63
Slide 66: 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 September 30,2023, total holding in AAF stood at 91 million equity shares representing 72.92% of their total capital. The loan portfolio st
Slide 67: Branch Network
BRANCH NETWORK AS ON SEPT 30, 2023 80 Branches INCREASE IN BRANCH NETWORK AS ON 27% YoY AT SEPT 30, 2022 63 Branches 80 BRANCHES 65
Slide 68: Profit After Tax
PROFIT AFTER TAX QUARTER ENDED LKR 7.20 Crores SEPT 30, 2023 INCREASE IN PROFIT AFTER TAX QUARTER ENDED 31% QoQ AT LKR 5.52 Crores JUNE 30, LKR 7.20 CRORES 2023 66
Slide 69: 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 67
Slide 70: Branch Network
BRANCH NETWORK AAF has operations in various parts of Sri Lanka providing the best services and easy access to clients 68
Slide 71: Key Financial Parameters
Key Financial Parameters (LKR in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 LKR/INR 0.2562605 0.224767 0.2562605 0.26625 0.249700 Number of branches 80 63 80 77 75 Number of Employees 523 413 523 595 590 Gross Loan AUM (LKR) 19,581 19,300 19,581 20,102 21,201 Capital A
Slide 72: Our Subsidiary: Muthoot Homefin
OUR SUBSIDIARY Muthoot Homefin G) Muthoot Finance 70
Slide 73: 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 74: Loan Portfolio
LOAN PORTFOLIO AS ON SEPT 30, 2023 1,616 Crores INCREASE IN LOAN PORTFOLIO AS ON 14% YoY SEPT 30, 1,420 Crores 2022 AT 1,616 CRORES 72
Slide 75: Loan Disbursement
LOAN DISBURSEMENT HALF YEAR ENDED 278 Crores SEPT 30, 2023 INCREASE IN LOAN DISBURSEMENT HALF 164% YoY AT YEAR ENDED 105 Crores 278 CRORES SEPT 30, 2022 73
Slide 76: Profit After Tax
PROFIT AFTER TAX HALF YEAR ENDED 9 Crores SEPT 30, 2023 INCREASE IN PROFIT AFTER TAX HALF YEAR 133% YoY AT ENDED 4 Crores 9 CRORES SEPT 30, 2022 74
Slide 77: Business Performance
Business Performance (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of branches 122 108 122 111 108 Number of Sales Offices 122 108 122 111 108 Number of Employees 512 299 512 418 346 Gross Loan AUM (`) 16,157 14,196 16,157 15,007 14,381 Gross Loan Assets (`)
Slide 78: Business Performance
Business Performance (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Disbursement (`) 2,779 1,051 1,684 1,094 2,235 Borrowings (`) 9,467 6,949 9,467 8,191 6,602 Debt Equity Ratio (%) 2.03 1.54 2.03 1.77 1.44 Yield on Advances (%) 13.33 12.36 13.31 13.34 12.70 Interest
Slide 79: Financial Highlights Growth
• Disbursements of INR 1684 mn in Q2 FY 2024: AUM INR 16157 mn as on September 30, 2023: Loan Book INR 12934 mn as on Sep 30, 2023: • Average Ticket Size in Q2 FY 2024: INR 0.96 mn Financial • Business Presence: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh , Kerala, Andhra Pradesh, Telangana, Kar
Slide 80: Our Subsidiary: Muthoot Insurance Brokers
OUR SUBSIDIARY G) Muthoot Insurance Brokers &) Muthoot Finance 78
Slide 81: 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 82: Total Revenue
TOTAL REVENUE HALF YEAR ENDED 47 Crores SEPT 30, 2023 INCREASE IN TOTAL REVENUE HALF YEAR 85% YoY AT ENDED 25 Crores 47 CRORES SEPT 30, 2022 80
Slide 83: Profit After Tax
PROFIT AFTER TAX HALF YEAR ENDED 25 Crores SEPT 30, 2023 INCREASE IN PROFIT AFTER TAX HALF YEAR 16 Crores 60% YoY AT ENDED SEPT 30, 25 CRORES 2022 81
Slide 84: Key Business Parameters, Key Financial Parameters
Key Business Parameters (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Premium Collection (` ) 3,099 2,827 1,622 1,477 6,505 Number of Policies 17,91,376 24,15,006 875,081 916,295 46,86,920 Key Financial Parameters (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2
Slide 85: Our Subsidiary: Belstar Microfinance Limited
OUR SUBSIDIARY Ny BELSTAR MICROFINANCE LIMITED ® Muthoot Finance 83
Slide 86: Belstar Microfinance Limited – An Overview
BELSTAR MICROFINANCE LIMITED – AN OVERVIEW As of September 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 effe
Slide 87: Loan Portfolio
LOAN PORTFOLIO AS ON SEPT 30, 7,874 Crores 2023 INCREASE IN LOAN PORTFOLIO AS ON 53% YoY AT SEPT 30, 5,138 Crores 7,874 CRORES 2022 85
Slide 88: Loan Disbursement
LOAN DISBURSEMENT HALF YEAR ENDED 4,294 Crores SEPT 30, 2023 INCREASE IN LOAN DISBURSEMENT HALF 76% YoY AT YEAR ENDED 2,444 Crores 4,294 CRORES SEPT 30, 2022 86
Slide 89: Profit After Tax
PROFIT AFTER TAX HALF YEAR ENDED 135 Crores SEPT 30, 2023 INCREASE IN PROFIT AFTER TAX 284% YoY AT 135 CRORES HALF YEAR PROFIT AFTER TAX FOR HALF YEAR ENDED 35 Crores SURPASSED ENTIRE PREVIOUS SEPT 30, YEAR’S PROFIT AFTER TAX 2022 87
Slide 90: Key Financial Parameters
Key Financial Parameters (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of Branches 946 715 946 782 768 Number of Employees 9,491 7,065 9,491 8,421 8,022 Gross Loan AUM (`) 78,741 51,381 78,741 70,082 61,925 Gross Loan Assets (`) 64,654 41,709 64,654 55,914 47
Slide 91: Our Subsidiary
OUR SUBSIDIARY 89
Slide 92: 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 93: Our Subsidiary: Key Financial Parameters
OUR SUBSIDIARY Key Financial Parameters (` in millions) Particulars H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Number of branches 276 139 276 185 149 Number of Employees 1,040 712 1,040 1,154 920 Gross Loan AUM (`) 6,302 2,337 6,302 4,961 3,870 Capital Adequacy Ratio(%) 74 40 74 19 24 Total
Slide 94: Other Subsidiaries
OTHER SUBSIDIARIES MUTHOOT ASSET MANAGEMENT PRIVATE LIMITED (` In millions) H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Networth 1,172 1,112 1,172 1,157 1,141 MUTHOOT TRUSTEE PRIVATE LIMITED (` In millions) H1 FY 2024 H1 FY 2023 Q2 FY 2024 Q1 FY 2024 FY 2023 Networth 10 10 10 10 10 92
Slide 95: Muthoot Family - years of Business Legacy
Muthoot Family - 800 years of Business Legacy