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Muthoottu Mini Financiers, a prominent Non-Banking Financial Company (NBFC) in India, has announced significant growth in its total Assets under Management (AUM), marking an impressive increase of 14.89% from the third quarter of the previous fiscal year. This growth reflects the escalating demand for gold loans in the market. Additionally, the company achieved a resilient Year on Year revenue growth of 17.18% in Q3FY24. Muthoottu Mini Financiers also witnessed a significant uptick of 62.18% in its Profit before Tax (PBT), reaching Rs. 81.77 Crores.

Muthoottu Mini Financiers’ PAT surges by 42.59% YoY in Q3FY24

The NBFC is also in the process of launching new branches to expand both laterally and vertically. Muthoottu Mini’s current workforce includes more than 4,000 employees across 900 branches across the country.

Muthoottu Mini to hire over 2000 people, reach 1000 branches by FY24-end

Muthoottu Mini Financiers, a leading Non-Banking Financial Company (NBFC) in India, has been recognized as the ‘Best BFSI Brand‘. In a remarkable double win, both Mathew Muthoottu, Managing Director, and P.E. Mathai, CEO of Muthoottu Mini, were individually honoured as the “Most Promising Business Leaders of Asia 2024“. These accolades underscore Muthoottu Mini’s commitment to excellence and innovation in the Banking, Financial Services, and Insurance (BFSI) sector. The prestigious ‘Best BFSI Brand’ award was presented to Muthoottu Mini Financiers by Mr. Ajay Choudhary, Non-Executive Chairman of the Board and Independent Director, NPCI. The ‘Most Promising Business Leaders in Asia Award’ was conferred upon the Managing Director and CEO of Muthoottu Mini by Mr. Sanjay Bhattacharyya, Former Secretary to the Ministry of External Affairs, BRICS Sherpa, and Ambassador to Switzerland, Turkey, and Egypt.

Muthoottu Mini Triumphs as ‘Best BFSI Brand

MMFL has the majority of its portfolio concentrated towards southern India. As on March 31, 2023, Tamil Nadu remains the top state which constituted around 46% (PY: 47%) of the gold loan portfolio. As on March 31, 2023, gold loans accounted for 93% of the loan portfolio and the rest were microfinance loans & loan against property (LAP) loans.


Geographically, the gold loan financing industry is predominantly placed in southern India with an active interest of both the banks and the large NBFCs operating out of this region. MMFL faces heavy competition from larger players offering gold loans in the regions in which the company operates. 

The issuer has made timely interest payments.

Mrs. Nizzy Mathew, Chairperson

Mr. Mathew Muthoottu, Managing Director

The ‘Mini Muthoottu’ group has been in the gold loan business for more than six decades and has established a strong brand value in the market. MMFL is a business venture of the ‘Mini Muthoottu’ group. The company has a long track record of operations and has been providing gold loan advances from FY07.

Several tests for checking spurious gold, including touchstone test and nitric acid test, are conducted by the branches. The company has implemented systems for ensuring gold security and reducing custodial risks, including highly secured vaults with dual control and insurance.

MMFL’s loan portfolio grew at a rate of 31% from ₹2,499 crores as on March 31, 2022 to ₹3,263 crores as on March 31, 2023. The company has opened branches in new geographies during FY23.

The loans are mainly backed by gold jewellery that is a liquid and safe security.


10.00%Muthoottu Mini Financiers Limited 27 Feb 2026

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INE101Q07AP9

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Muthoottu Mini Financiers’ PAT surges by 42.59% YoY in Q3FY24

Muthoottu Mini to hire over 2000 people, reach 1000 branches by FY24-end

Muthoottu Mini Triumphs as ‘Best BFSI Brand

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