CRISIL

Muthoot FinCorp Limited, announced XVI Tranche III series of secured, redeemable, non-convertible debentures (NCDs) to raise an amount aggregating up to ₹300 crores, which is within the shelf limit of ₹1,100 crore. The third tranche issuance amounts to ₹75 crore with a green shoe option of ₹225 crore aggregating up to ₹300 crore

Muthoot FinCorp to raise ₹300 crore through public issue of secure NCDs

Muthoot FinCorp Limited, has reported highest ever loan disbursements in FY24 with consolidated disbursement at ₹61,703.26 crore, up by 18.60 per cent. The AUM stood at ₹33,359.30 crore with net profit at ₹1047.98 crore, an increase of 62.12 per cent over the preceding fiscal, while serving more than 93 lakh customers across the country. As standalone, Muthoot FinCorp’s disbursements rose by 15 percent per cent year-over-year (YoY) to ₹50167.12 crore from ₹43443.26 crore in the previous year. The PAT increased by 22.40 per cent to ₹562.81 crore compared to ₹459.81 crore in FY23.“Our focused efforts to diversify our product range have effectively addressed the varied financial needs of our customers in the lower middle-income segment. We are dedicated to developing a more comprehensive suite of products to support our customers’ evolving financial needs throughout their life cycles. This approach has successfully expanded our customer base and reinforced our commitment to financial inclusion”, said Thomas John Muthoot, Chairman of Muthoot FinCorp Limited.

Muthoot Fincorp register highest loan disbursements in FY24

Non-Banking Financial Company Muthoot FinCorp Ltd (MFL) the flagship company of Muthoot Pappachan Group, is planning to double the growth of non-gold loan portfolio in the next two-three years through a diversified portfolio mix, said a top official. MFL current portfolio consists of gold loan (the flagship product), loan against property (started some 2.6 years ago) and small business loans (about a year ago), auto loan, forex, money transfer and wealth management services. Besides, MFL launched QR code based digital MSME loans through MFL One platform and disbursed over ₹500 crore. It is an unsecured loan given to shopkeepers for a shorter duration. Following the successful completion of pilot run of retail mortgages, MFL is planning to roll out Secured Unsecured Lending Business nationally. Supply Chain Financing was launched during March.

Muthoot Fincorp aims to double share of non-gold loan portfolio

High geographical concentration persists, with South India accounting for around 55% of the gold loan portfolio as on September 30, 2024. While concentration has been declining, it is higher than that of peers. Presently, since demand for gold loans has been high in the region, the proportion of AUM from the South may not decline further in subsequent fiscals

The non-gold segments accounted for 48% of the overall portfolio as on March 31, 2024. Potential challenges linked to seasoning of the loan book and asset quality remain. In fiscal 2024, microfinance and housing finance portfolios registered a double-digit growth of 33% and 36%, respectively, while vehicle loan portfolios decreased by 4%. Additionally, sufficiency of capital buffers to withstand asset-side shocks remains a key rating sensitivity factor.


The issuer has made timely interest payments.

Mr. Thomas John Muthoot, Chairman and MD

Mr. Thomas Muthoot, ED & CFO

MFL has an established market position in gold financing. The promoters have spent over seven decades lending against gold jewellery. Over the years, the group has established a strong reputation and brand in South India and has an appropriate assessment and underwriting methodology. The company’s gold loan AUM stood at Rs 24,444 crore as of September 2024 in comparison to Rs 20,484 crore in fiscal 2024. 



The MPG has diversified its product profile over the past few years. Currently, the group operates in five major segments: loan against gold jewellery, two-wheeler finance, microfinance, housing finance and small business loans. The proportion of gold loans remained high at 54% in September 2024. The microfinance portfolio is the second largest with around 28% of the group’s overall portfolio as on September 30, 2024. 


Security Name: 9.40% Muthoot Fincorp Limited 01 Aug 2028

ISIN:

INE549K07GZ8

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Muthoot Fincorp Limited

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Muthoot FinCorp to raise ₹300 crore through public issue of secure NCDs

Muthoot Fincorp register highest loan disbursements in FY24

Muthoot Fincorp aims to double share of non-gold loan portfolio

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