Muthoot Microfin Ltd · NSE:MUTHOOTMF
Muthoot Microfin — Q1 FY2027 Earnings Presentation
39 slides from Muthoot Microfin's earnings presentation, Aug 6, 2026
Slide 1: Exchange filing letter for investor presentation
August 06, 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 Cod
Slide 2: Investor Presentation Q1 FY'2027
INVESTOR PRESENTATION Q1 FY’ 2027 Muthoot Microfin Limited
Slide 3: Disclaimer
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 Mi
Slide 4: MPG - Legacy of 138+ years of history
MPG - Legacy of 138+ years of 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 Infrastructure Thomas John Muthoot Chairman, Mu
Slide 5: Journey So Far
Journey So Far Journey So Far • MML Rating upgrade to “AA-/Stable” • Strengthens Non-JLG portfolio. MSEL 2026 AUM crosses >32,000 Mn. 2025 • Raised USD 128Mn via ECB. • Secures ESG Score of 72.2 with CareEdge-ESG Rating, highest • Entered Telangana and Andhra rating tier by CARE. Pradesh State • Sec
Slide 6: Strong Corporate Governance and Support from Promoters & Investors
Strong Corporate Governance and Support from Promoters Investors Strong Corporate Governance and Support from Promoters & Investors Shareholding as of June’26 Promoter Group Directors Non-Independent Directors Institutions Institutions Foreign, Domestic, 3.38% 0.35% Thomas Muthoot Thomas George Muth
Slide 7: Strong Corporate Governance and Support from Promoters & Investors
Strong Corporate Governance and Support from Promoters Investors Strong Corporate Governance and Support from Promoters & Investors Employee Mix Field Monitors- other departments Regional Office 312 Key Management Personnel and Senior Management Personnel Jun‘26 1,582 Head Office Field Monitors- Operati
Slide 8: Operational Highlights – Q1 FY'27
Operational Highlights – Q1 FY’27 AUM Disbursement Branch 1,44,572 26,445 1,671 Nos (18.0% YoY)(3.2% QoQ) (48.9% YoY)(-8.1% QoQ) (-3.2% YoY)(0.1% QoQ) Employee Active Clients (Mn) CE (Overall) 15,639 3.25 NTM (in Q1 FY’27) 97.97% (-4.6% YoY)(-0.6% QoQ) (-4.7% YoY) 0.06 (4.97% YoY) (1.54% QoQ) (-0.6%
Slide 9: Financial Highlights – Q1 FY'27
Financial Highlights – Q1 FY’27 Income PPOP (Mn) PAT (Mn) INR 6,706 INR 1,985 INR 813 (20.0% YoY) (5.0% QoQ) (43.3% YoY) (2.9% QoQ) (12x YoY) (14.4% QoQ) NIM (%) Opex Ratio (%) Cost to Income Ratio (%) 12.0% 6.3% 53.7% (50 bps YoY) (-1 bps QoQ) (-52 bps YoY) (-03 bps QoQ) (-721 bps YoY) (48 bps QoQ)
Slide 10: Quality-Led Growth with Strengthened Portfolio Resilience & Stability
Quality-Led Growth with Strengthened Portfolio Resilience & Stability AUM (Mn) 18.0% YoY Disbursement (Mn) 48.9% YoY Clients (Mn) 4.7% YoY Client (Lks) Avg OS/Client ('000) 1,22,528 1,25,588 1,30,786 1,40,056 1,44,572 17,756 22,739 24,922 28,767 26,445 3.41 3.36 3.33 3.27 3.25 44 43 39 37 36 Q1 FY’2
Slide 11: Key Metrics
Key Metrics Key Metrics Branch Count RO Count Male Female AUM per Branch (Mn) 1,726 1 1,718 9,854 9,501 9,357 8,900 8,644 71.0 73.1 77.3 83.9 86.5 22 1,691 10 1,671 2 43 1,670 18 12 10% 10% 4 25 2 11% 12% 13% 12 1 3 3 1,726 1,718 1,699 90% 90% 89% 88% 87% 1,691 1,670 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q4 FY
Slide 12: Strategic re-alignment through Diversification 1/2
Strategic re-alignment through Diversification 1/2 Strategic re-alignment through Diversification 1/2 Portfolio Concentration (Region-wise Trend) 16% 16% 16% Number of Branches Per State 15% 15% 392 Districts West 14% 13% 13% 13% 12% 1,671 Branches East 24% 24% 23% North 23% 23% 4 42 49% South 48% 4
Slide 13: Strategic re-alignment through Diversification 2/2
Strategic re-alignment through Diversification 2/2 Exposure of Districts (% of GLP) Consistent strength across key metrics in KL & TN JLG Loan MSEL & MSME LAP Top 1 3% Pan India AUM (Mn) Top 3 8% TN 25,133 Mn (67%) 12,370 Mn Top 5 11% (33%) MSEL & MSME LAP 23% 15,584 Mn 5,112 Mn Top 10 19% KL (75%)
Slide 14: Muthoot Small Enterprise Loan - Snapshot
Muthoot Small Enterprise Loan - Snapshot Portfolio - E-Nach & UPI Mandate Success Mandate Enrollment 13% NACH bounce recoveries Muthoot Small rate with on-time were largely completed by T+3 Q1 FY’27 Enterprise Loan | CE payment Q1 FY’27 and fully by T+8, ensuring Disbursement ~100% collection effici
Slide 15: Muthoot Small Enterprise Loan - Performance Summary Q1 FY'27
Muthoot Small Enterprise Loan - Performance Summary Q1 FY’27 NACH Collection Payment Status Delinquency 86.9% 95.8% 97.9% 99.1% 99.97% 0.10% 0.02% Nil On Time (T) T+1 T+2 T+3 T+8 0+ 30+ 60+ 90% of NACH payments were made on time, while bounce recoveries were largely completed by T+3 and fully by T+8
Slide 16: Resilient Business Model – Proven over time
Resilient Business Model – Proven over time Resilient Business Model – Proven over time 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 1,40,056 1,44,572 1,25,185 1,24,049 1,25,588 1,30,786 1,21,93
Slide 17: Collection Efficiency
Collection Efficiency CE % 93.62% 93.97% 95.85% 95.24% 92.60% 93.00% 93.34% 94.80% 96.43% 97.97% 90.68% FY'25 FY'26 Q1FY'25 Q2FY'25 Q3FY'25 Q4FY'25 Q1FY'26 Q2FY'26 Q3FY'26 Q4FY'26 Q1FY'27 Overall CE - X Bucket 99.51% 99.58% 99.91% 100.04% 99.05% 98.97% 98.96% 99.79% 99.80% 99.82% 99.89% FY'25 FY'26
Slide 18: Collection Performance – Overdue
Collection Performance – Overdue DMS Performance (Collection incld. closures) 27% FO Productivity (Mn) YoY 705 30% 624 578 530 YoY 486 457 32% 417 418 0.15 0.14 YoY 367 -13% 283 177 YoY 136 128 123 42 103 39 37 27 31 FO (Mn) Agency (Mn) DME (Mn) Overall Q1 FY’26 Q1 FY’27 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q
Slide 19: Asset Quality 1/3
Asset Quality 1/3 Asset Quality 1/3 Loan Assets Loan Assets ECL (%) ECL (%) Particulars Q1FY27 Slab ECL (Gross) (Gross)(%) (Q1 FY 27) (Q4 FY 26) Opening ECL (A) 4,220.06 Stage 1 1,03,948.67 965.31 94.57% 0.93% 0.94% Additions (B) Stage 2 1,897.32 173.46 1.73% 9.14% 8.70% - Provisions as per ECL Mode
Slide 20: Asset Quality 2/3
Asset Quality 2/3 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% 73.3% 68.5% 70.4% 70.5% 71.5% 72.4% 8 0.0% 54.9% 6750.0% 7.39% 4 0.0% 23 10.0% 0.0% 6.26% 4.85% 4.84% 4.61% 4.40% 3
Slide 21: Asset Quality 3/3
Asset Quality 3/3 Asset Quality 3/3 Borrowers % Portfolio % Client Distribution : MML maintains a controlled Lender Group exposure in the 'Own + 3 or more lenders' segment at Q1 FY-27 Q4 FY-26 Q3 FY-26 Q2 FY-26 Q1 FY-26 Q1 FY-27 Q4 FY-26 Q3 FY-26 Q2 FY-26 Q1 FY-26 5.4%, demonstrating a continued str
Slide 22: Digitization driving Collections
Digitization driving Collections Customer App Installation (Cum. Mn)¹ Cumulative Digital Collection (Mn) 1.85 1.89 1.94 2.02 2.09 58,673 60,312 61,936 63,675 65,377 67,071 68,973 70,789 72,814 74,947 77,228 79,701 82,377 85,242 88,304 Q1 FY’26 Q2 FY’26 Q3 FY’26 Q4 FY’26 Q1 FY’27 Apr-25 May-25 Jun-25
Slide 23: Performance & Annual Guidance
Performance & Annual Guidance Guidance FY 27 Guidance FY 27 Guidance Actual Revised Guidance Particulars Remarks FY 27 Q1 FY 27 FY 27 Growth is expected to started coming. Expected to do AUM -Growth 12% - 15% *12.9% 18% - 20% improve full year growth for FY 27 The NIM is on improving trend as weight
Slide 24: P & L Statement
P & L Statement Financial Comparison Q1 FY 27 Q1 FY 26 YoY (%) Q4 FY 26 QoQ (%) FY 26 Income Revenue from operations 6,686.4 5,586.2 19.69% 6,318.1 5.83% 23,695.7 Other income 19.7 4.4 351.63% 70.8 -72.14% 111.3 Total income 6,706.1 5,590.6 19.95% 6,389.0 4.96% 23,807.0 Expenses Finance costs 2,467.
Slide 25: Robust Fiscal year performance in terms of Income/Profitability (1/2)
Robust Fiscal year performance in terms of Income/Profitability (1/2) Robust Fiscal year performance in terms of Income/Profitability (1/2) Total Income (in Mns) PPOP (in Mns) 25,646 8,676 23,807 6,556 5,774 6,054 6,389 6,706 5,591 1,985 1,753 1,928 1,385 1,490 FY 25 FY 26 Q1 FY 26 Q2 FY 26 Q3 FY 26
Slide 26: Robust Fiscal year performance in terms of Income/Profitability (2/2)
Robust Fiscal year performance in terms of Income/Profitability (2/2) Robust Fiscal year performance in terms of Income/Profitability (2/2) Cost Ratio's Cost to Income 60.9% 59.8% 12.4% 12.0% 57.0% 11.9% 11.9% 12.0% 12.0% 54.8% 53.7% 11.5% 53.2% 47.5% 9.4% 6.7% 6.9% 7.0% 6.2% 6.5% 6.4% 6.3% 4.3% 3.5
Slide 27: Consistant Improvement in Credit Cost
Credit Cost Consistant Improvement in Credit Cost Consistant Improvement in Credit Cost 6 years Average Credit Cost : 3.8 % *Credit Cost including 5 years Average Credit Cost 2.7 % management overlay in FY’25 is 9.4% (excluding the impact year) : 9.40% 2,297 7.50% 4.30% 3.60% 3.30% 3.00% 3.00% 2.80%
Slide 28: Balance Sheet
Balance Sheet (Rs in Millions) Financial Assets Jun'26 Mar'26 Financial Liabilities Jun'26 Mar'26 Cash and cash equivalents 11,745.0 7,011.5 Derivative financial instruments - - Bank balances other than cash 4,594.3 4,396.2 Total outstanding dues of creditors 220.0 213.7 Trade receivables 327.2 253.
Slide 29: Balance Sheet Metric
Balance Sheet Metric Balance Sheet Metric Networth (in Mns) CRAR 28,044 28,543 29,393 29.0% 27.9% 26,322 24.9% 23.9% 21.9% 16,258 FY 23 FY 24 FY 25 FY 26 Q1FY27 FY 23 FY 24 FY 25 FY 26 Q1FY27 Debt/Equity Cost of Borrowing 3.99 11.20% 3.42 10.94% 11.02% 3.34 2.98 3.01 10.27% 10.13% Marginal CoF 9.8%
Slide 30: Cost of Fund movement of Structured Transactions
Cost of Fund movement of Structured Transactions Proportion of PTC Borrowing 34% (32,897Mn), FY 26 Proportion of PTC Q1 FY 27 39% (10,789Mn) , Proportion of PTC Proportion of PTC Other Borrowing 61% (16,545Mn), 66% (62,477Mn), Other Borrowing Other Borrowing Note – MML Expect to borrow 30% of the in
Slide 31: Funding Profile
Funding Profile Funding Profile Liquidity-current Position (in Mns) Lender-wise Outstanding Q1 FY’27 Domestic DFI SFB 4% 25,000 3% Foreign DFI 5% Public Sector Retail Banks 7% 17% 14,850 13,279 NBFC 6% Foreign Banks Private 10% Sector Banks Liquid funds in hand DA/PTC Sanction Pending Term loan/NCD
Slide 32: Liquidity – Static Liquidity Position
Liquidity – Static Liquidity Position Liquidity – Static Liquidity Position Static ALM (in Mns) Maturity ALM (in Mns) 62,200 58,065 44,632 39,621 38,550 35,052 33,561 33,436 27,014 20,277 20,229 20,196 19,352 22,123 17,299 13,809 13,857 12,991 12,943 7,223 8,038 7,115 7,113 7,065 7,010 6,684 9,445 6
Slide 33: Robust Risk Management via use of Technology and expert human touch
Robust Risk Management via use of Technology and expert human touch Risk Management Framework Dedicated Credit Managers at all Efficient and Independent Internal Unique credit score developed along branches Audit & Compliance team Collections with Equifax 1,911 Credit Managers supervised by Area Cre
Slide 34: Internal Controls
Internal Controls RO 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 certifyin
Slide 35: Suvidha Loan – Digital Eco-System
Digital Eco - System Suvidha Loan Suvidha Loan Client Web App Login Whatspp App CB Enquiry Credit UPI Score Run SMS Mandate Penny Drop Verification Tele Verification Dynamic BBPS QR Document E-Sign Bank AC Credit UPI BHIM Payments Voice Suvidha Disb Suvidha Note : Express loan processed from Incepti
Slide 36: Technology Interventions
Technology Interventions Technology Interventions Customer Group Group Loan Sanction Centre Onboarding Training Confirmation & Disbursement Meeting Score card-based Nominee KYC System supported Multiple payment E-signing exposure Verification group evaluation channels Real time CB System supported M
Slide 37: Past Five Years Track Record
Past Five Years Track Record Past Five Years Track Record AUM (Mn) Disbursements (Mn) Borrowers (Mn) CAGR 22% CAGR 19% CAGR 12% 1,40,056 1,06,616 3.43 3.35 3.27 1,21,935 1,23,567 88,725 94,184 81,045 2.77 92,083 2.05 62,550 46,470 FY-22 FY-23 FY-24 FY-25 FY-26 FY-22 FY-23 FY-24 FY-25 FY-26 FY-22 FY-
Slide 38: 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 39: Thank You
Muthoot Microfin Limited THANK YOU