{"id":183005,"date":"2026-05-14T08:48:38","date_gmt":"2026-05-14T12:48:38","guid":{"rendered":"https:\/\/alphastreet.com\/india\/muthoot-finance-limited-muthootfin-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-14T12:21:14","modified_gmt":"2026-05-14T16:21:14","slug":"muthoot-finance-limited-muthootfin-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/muthoot-finance-limited-muthootfin-q4-2026-earnings-call-transcript\/","title":{"rendered":"Muthoot Finance Limited (MUTHOOTFIN) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Muthoot Finance Limited (NSE: MUTHOOTFIN) Q4 2026 Earnings Call dated May. 14, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

George Alexander Muthoot<\/strong> \u2014 Managing Director<\/em><\/p>\n

Oommen Mammen<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Sanket Chheda<\/strong> \u2014 Analyst<\/em><\/p>\n

Shubham Gupta<\/strong> \u2014 Analyst<\/em><\/p>\n

Rushabh Doshi<\/strong> \u2014 Analyst<\/em><\/p>\n

Abhijit Tibrewal<\/strong> \u2014 Analyst<\/em><\/p>\n

Rajiv Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Jyoti Khatri<\/strong> \u2014 Analyst<\/em><\/p>\n

Nischint Chawathe<\/strong> \u2014 Analyst<\/em><\/p>\n

Vikram Subramanian<\/strong> \u2014 Analyst<\/em><\/p>\n

Shreepal Doshi<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to The Muthur Finance Q4FY26 earnings conference call hosted by Dam Capital Advisors. As a reminder all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Sankeshwer from Dam Capital Advisors. Thank you.<\/p>\n

And over to you sir.<\/p>\n

Sanket Chheda<\/strong> \u2014 Analyst<\/em><\/p>\n

Yeah hi and very good evening to all of you. We have with us the entire management team of Motor Finance today to discuss their Q4 results. I’ll hand the call over to Mr. George Alexander Motor for opening remarks. We’ll follow that up with question and answer. Over to you sir.<\/p>\n

George Alexander Muthoot<\/strong> \u2014 Managing Director<\/em><\/p>\n

Okay, thank you Sanket and also welcome to the conference call of Muthoot Finance and subsidiaries for the quarter four and the full year 2025 26. We just concluded our board meeting and that is the reason the accounts the results were uploaded maybe an hour back or on India’s past back only. Sorry for that but otherwise commenting on the on the business I would start with the gold loan business we have a the highest ever consolidated gold loan Aum consolidated gold loan AEM of Muthuj Finance and its subsidiaries at 1 65,000 crores which is a historic growth and has a growth of 57,000 crores or 54% last year the full year our growth was 57,000 crores and the AUM consolidated stands at 1 65,000 crores looking at the standalone business without the subsidiaries the loan standalone gold loans stands at 1 64,000 crores and the highest ever standalone profit after tax Standalone profit after tax of 10,134 crores it is up by 95% year on year.<\/p>\n

Coming to the consolidated AUM the consolidated AUM of Muktuj Finance and all its subsidiaries stands at 1 81,916 crores as of March which shows a growth of 59,000 crores or 49% last year and the consolidated profit after tax stands at 10,607 crores again up by 98% year on year. Now a few other highlights I would like to add here. Muthut Finance declared the highest dividend of 300% or rupees 30 per share and this is the 14th year of consistent dividend declaration since our IPO in 2011. During the year we opened 177 new branches by the group and we also have received multiple industry recognitions as Muthuj Finance is certified as India’s most trusted financial Services branch for 10th year in a row by TRA brand first report 2026.<\/p>\n

Also Muthuj Finance has been certified as a Great Place to Work by Great Place to Work Institute for the fifth year in a row. Coming to the subsidiaries there has been stable performance across the subsidiaries in Belstar Microfinance just as we had guided last year we have started opening started venturing into the Gold loan business and we opened 81 gold loan branches last year to diversify the loan portfolio. The total branches including the microfinance stands at 1300. Collection efficiency in the microfinance increased by 0.69% and now stands at 99.85% which was 99.16% last year.<\/p>\n

During the year we dispersed 7500 crores as against 6000 crores in the previous year. And Muthu Home Finance the loan AO stands at 3,485 crores versus 2,900 in the last year. A growth of 17%. Dispersed loan of 999 crores last year interest income increased by 36%. Profit after tax stands at 45 crores, GNPA stands at 2.63 and NNPA at 1.94. Now coming to Muktoot Mani. Mukt Mani which is doing vehicle finance has been running down its vehicle finance business and has gone into the Gold loan business and gold loan the AUM stands at 9794 crores versus 3900 crores last year a growth of 151%.<\/p>\n

There has been a share capital infusion of 1000 crores. Being a 100% subsidiary it was infused by the parent Muthut Finance and today the capital base stands at 2,357 crores. Total income increased to 1294 crores. Active customer base has shown a consistent growth from 2.74 lakhs last year to 4.6 lakhs this year. The credit rating has been upgraded to AA stable stable from AA stable by CRISIN for long term borrowings the profit after tax stood at 338 crores this year versus 12 crores last year. So these are the main highlights of this year.<\/p>\n

We are happy to present or we are glad to present good financials for last year and definitely thanking the stakeholders including our customers, our lenders, regulators and of course our valid shareholders and also the bankers who have been funding us and certainly all the analysts also for your guidance. So I think I will stop here and maybe wait for the clarifications and Q and A from the investors.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the test on telephone. If you wish to remove yourself from the question queue you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from Shubham Gupta from Prosper Wealth. Please go ahead. Hello.<\/p>\n

Shubham Gupta<\/strong><\/p>\n

Yeah. Yes,<\/p>\n

Operator<\/strong><\/p>\n

Yes,<\/p>\n

Shubham Gupta<\/strong><\/p>\n

I have two questions. First is basically what is the like expected guidance of top line revenue and the margins for the next year? And the second is like how will the recent like RPM recently said not to buy gold so how will it impact the motor finance overall revenue going ahead in the next year?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

So yeah I think generally we don’t give a guidance on the, on the margins and the profit it’s when the aum grows there will be definitely profit growth also. So generally we wouldn’t have not been giving the guidance of that in the previous years. Now your second question was about the gold, not to import gold. So I think the government of India has said that you should reduce the import of gold and they have actually increased the tax also from 6% to 15%. So because we don’t finance any gold purchase, we don’t finance any gold bullion etc it actually doesn’t affect Muktuj as we all, as we have always been saying we we finance only the household used ornaments of the public which is what we don’t take coins and bullions and bars etc.<\/p>\n

So we have then solely the household ornaments which is still intact and there is reportedly about 25,000 to 30,000 tonnes of gold with us. So I think there is good scope, good prospects for this business going forward also in spite of new gold or new import of gold being restricted.<\/p>\n

Shubham Gupta<\/strong><\/p>\n

Got it sir. Thanks. Thanks for answering the question.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Rishabh Dosey from Nirmiti Investment Advisory LLP. Please go ahead Mr. Rushab.<\/p>\n

Rushabh Doshi<\/strong><\/p>\n

Yeah hi Congress on a great set of numbers. So I’ve noticed that you’ve changed the presentation this time. So in the last presentation there was a slide which used to give the average monthly disbursement and the average monthly collection for the quarter. So if you could just please help me with those numbers. And my second question is that the yields have gone up again this quarter. So are there any NPA recoveries or ARC income which we’ve booked in this quarter?<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Okay, so disbursement, it will be something similar.<\/p>\n

We are not looked at exact numbers. The second question, was there any additional income? So there was an auction income of about 50, 50 crores. Arc, I think it is around 35 crores. So totally 85 crores. And I know there was some increase in the pricing also in the last quarter.<\/p>\n

Rushabh Doshi<\/strong><\/p>\n

Okay, could you share the disbursement number for the quarter?<\/p>\n

Oommen Mammen<\/strong><\/p>\n

I think it will be almost similar to previous quarters. The trends around 18,000. I don’t have the numbers exactly. So I will not be able to share right now.<\/p>\n

Thanks.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Abhijit Tibrival from Motila Loswal. Please go ahead sir.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Thank you for taking my question. So if you could just help us understand how is the competitive intensity in the gold finance sector trending Now? The reason for asking this is in the past you have explained to us so many times that whenever gold prices go up, the tonnage will come down. Something we’ve seen maybe this quarter as well. Having said that, we have also had other gold financing NBFCs obviously much smaller than you. But we are still seeing tonnage growth come through for them. So if you could first help us understand how are the competitive dynamics and why I ask this again, sir, is that in the past you always said competition will come and go.<\/p>\n

But not everyone is very serious about gold financing. They do it very opportunistically. But this time around, sir, maybe for the first time we are seeing a bunch of all AAA rated NBFCs who are themselves deep pocketed, can raise liabilities at finer rates than us and at some point in time can also build a distribution muscle which is very important in gold financing. So if you could just put some of those pieces together for us, sir.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Thank you. And you actually asked the question and also give the answers. Also the competition is there. New and newer people are coming. Fine. I think I would repeat what I said earlier. Also we are a gold company which focused on gold loan. The new players who are coming, maybe deep pockets, maybe the lesser cost of funds. They are not focused gold loan players. Focused gold loan players and also gold alone players have a difference which people will realize after some time only because this is a very operationally challenging, operationally intensive business and I’m sure people will realize that going forward.<\/p>\n

So competition will come after some time. Again I’m repeating some of them will lose interest some of them who stay focused will definitely be able to do this, do better. So they are all opportunistic people so we don’t find any people, anybody taking away our business. Also because in spite of all these we have been growing reasonably well if not better than the previous year so we see continuous growth in this sector and we see better things to happen. Now if you look at our slide Number slide number 19 you will see when you compare we have a second Necken company which is started gold loan business maybe one and a half years back muthut mani row number two see muthut mani the tonnage has increased considerably so because the tonnage which was 7 has gone up to 12 so that will be the same for any new player.<\/p>\n

So you consider this also as a new player, new player you compare with Muthoot money so Muthoot money the tonnages increase from 7 to 11 whereas in Muthoot finance we are an established player we are we having all the legacy accounts with us and there the tonnage will be definitely will be proportioned to the new loans. So the churn, churn in the loans the churn in the loan is actually for every four months it is churned so when every time a four month churn happens the new loans are created at a higher LTV that means they need to give only lesser gold so that is why you see the tonnage coming down.<\/p>\n

Say a person who had taken 1 lakh would have given me 10 grams last year last year when he comes this time instead of 10 grams he need to go 6 grams for the same loan so that is why the tonnage is coming down that I have been explaining always but when you said about the new companies in the new company you just compare Mukt money where the tonnage has also gone up the AUM which was about 3700 has gone to 9700 so tonnage has gone up the, the AUM has also gone up and the number of customers, the number of customers in muthut money with 2 lakh 74 in the last year today it is 464 so both are growing because it’s a new company, young company for Muthus Finance, the big company the number of customers not that easy to grow.<\/p>\n

There is something else also there. Because in Mutuj Finance that all will account the smaller accounts up to 10,000 and accounts from 10,000 to 30,000. Actually we have lost about 15 lakh customers there. But we have added the same in the higher tickets of 50,000. 1 lakh and 2 lakh. So overall that is the churn which is happening. Smaller loans people. What Somebody who took a 10,000 round last year today doesn’t need 10,000. The money value also has gone up. So he is coming for a 50,000 loan today or a 20,000 loan today.<\/p>\n

That is why the number of customers are coming down. So these are the views, our views about the customers and about the tonnage. And also I said about the new players and competition.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Thank you. And then the last question sir, I had is. I mean<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

I can’t hear you. You can’t hear you<\/p>\n

Operator<\/strong><\/p>\n

Say your voice is low. Mr. Abhijit.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Is it better now? Yeah. Yeah. So the last question I had was on employee attrition. I mean given that there are so many other NB who are also looking to start gold financing. Obviously they want to hire people from the best gold financing company.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Thank you for branding finance as the best gold finance company. Okay. There is always some people going away but nothing of any alarm. Because our numbers are also steady. If somebody goes, we take a new person. And again with competition. Some people think that just by taking a few managers or staff from Muthu they can start a gold loan business and maybe start branches. Okay, I’m not comments. Now let us see what will happen. What they will be looking after two years and three years. We have not lost any attrition.<\/p>\n

We are not customers. Staff. Sir, we still have about 30,000 staff. We still have that.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

And earlier Umun sir had mentioned that the higher interest income that we saw was also because of some higher pricing or pricing changes that we have done. Last quarter<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Rates by about 0.5 to 1% over certain certain types of loads. So that is why we see the yield has gone up.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Got it. Sir, this is useful. Thank you so much for answering all my questions. And so I wish you and your team the very best.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Peran. Engineer from clsa. Please go ahead.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Yeah. Hi team. Congrats on the quarter. Just sort of going back to the earlier questions. This Yield movement from 20.34 to 76. Does this include recovery? Namsa, is this just code? No,<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

There could be no regular churn which happens previous occasions. What happened is Your has come down this time the NPS have gone up. But no, the one off cases will be no.1 is the auction income 50 crores. And I know what is the other thing. Arc. Arc. That is a 35 crore crores. And know the. You know the yield increase also has happened during the quarter. During the quarter.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Okay. So sir, amen. The last quarter we also had a 500 crore interest write back from GNPA recoveries. That would be part of this 20.34% yield number of last quarter, is it<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Last quarter? Yes, but this quarter, this<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Quarter. No, that is not part of last year. Last quarter. Correct? Correct. So if I adjust for that, our yield improvement is very sharp.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Yeah, More than 100. We don’t want to get into the specifics of the yield increase. So I know last two quarters there have been a lot of increase in the gold price especially in the last fourth quarter. So we have charge some extra for those disbursements. To that extent we got some extra benefits.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Understood. And sir, is there now that we’ve. We are anyway earning a pretty solid yield of 20.8%. Is there a thought that we can maybe cut yields a bit and increase our customer count? Because our customer count has also gone down a bit.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

This is something which we have always discussed. We have the luxury to reduce the rate. So that’s why we always used to give a guidance of a medium term ROI of around three and a half percentage. So if the yield reduction adds a lot of customers, certainly we would like to do which we are already doing. Last several years we have been schemes at lower rate.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

We have different schemes. Schemes. We have a yield for 22%, 23% yield for 18%, 15%, 14%, 12%. We are different. So at some point of time when we feel. When we feel that we need to step up the lower yield portfolio, we will do that. So as as of date we don’t see any need for that now.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Understood? Understood. And so just one last question. It’s just a technical thing on slide 28 where you talk about the margin of safety on loans from the lenders perspective, the market price of the gold or.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Yeah. Your voice is cut off.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Yeah. Mr. Gigi,<\/p>\n

Operator<\/strong><\/p>\n

Your voice is cut off. Yeah. You are now you are audible.<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

Yeah. Yeah. So in that chart where you show the market price of gold ornaments which is 26,34 billion rupees for March 26, is it as of 31st March or do you take a monthly average number?<\/p>\n

Oommen Mammen<\/strong><\/p>\n

So we have put the price also in the table above no. 13,441 As of the date or as Of 31st March,<\/p>\n

Abhijit Tibrewal<\/strong><\/p>\n

The date sir, that date<\/p>\n

Oommen Mammen<\/strong><\/p>\n

As of the date monthly average. Yeah, that’s it from my end. Thanks and wish you all the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Rajiv Mehta from yes, securities. Please go ahead. Mr. Rajiv.<\/p>\n

Rajiv Mehta<\/strong><\/p>\n

Yeah. Hi, good evening. Congratulations on good numbers. You know again just you know looking at the customer matrix, I mean while the acquisition this quarter is better, you know, reactivation of customer is better, we have still kind of grown at the customer base level by 2% which means we’re also seeing slightly accelerated admission. So I mean is there any observation around it that the customers already with us are also moving to competition in the quest for better rates or the high value customers are moving out which is impacting not just the customer number as well as it is also impacting the tonnage growth as well.<\/p>\n

Is there any observation like that of the management?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

I think I just five minutes back I explained even somebody did not ask that specifically but we explained that we have the customers up to zero to 10,000 customers. We have lost about 5 lakh customers and between 10,000 to 30,000, maybe another 8 lakh customers have gone out. But then if the customer total count is remaining same it only means that the customers in the other Segments may be 50,000 1 lakh 2 lakhs have grown. See very small customers or small customers they may tend to leave or maybe go away also.<\/p>\n

But that doesn’t matter much to us because a customer of 10,000 or 30,000 leaving us, maybe he takes it off. He either he comes again for a bigger loan or he does not come again. But I don’t know whether somebody is taking away the 30,000 customer or 10,000 customers. I don’t think anybody would like to take such a small customer. So the point I was saying was very ultra small customers, ultra small loan customers would have left. But the medium and the good, the better customers are still growing. Give an example. So suppose if less than 50,000 customers say 10 lakhs customers have left, you would have added another 10 lakhs customers in the higher bucket. So net net if you see because the smaller ticket size customers would have closed their load which are large in number will not be able to match exact same order. So this happens for a large portfolio company and new company will not fail. That’s why in the previous question, yeah we explained how muthut money has grown. So we just want to bring a comparison to the new players.<\/p>\n

If it is A matured company, large portfolio. The churn will happen in the portfolio portfolio which will be there shift in customer basis from low ticket size customers and higher ticket customers. So this plays an important role. And in spite of this we have grown little bit in terms of outstanding number of cases. This is a natural phenomena which will happen in any portfolio which has become matured and just coming back to the E thing because the movement is so sharp. And last quarter you had a major interest recovery as well, which you don’t have this quarter but you have raised the price.<\/p>\n

So I mean this NPL increase which has happened in this quarter which is stage two has increased. Stage three is also significantly increased. That would have given you some more interest income recognition maybe in this quarter. But why did this, you know, why did we see an increase in stage two and stage three and so much in this quarter? Is there any peculiarity around it in terms of customer profile, occupation or any geography? So the stage three increase has happened primarily because RBA has advised us to do a borrower wise classification.<\/p>\n

So earlier we were doing this classification at the loan level. So today this time we have done at the borrower level. So to that extent there is a increase in the nps. So that’s why there is a jump in the npa. But if you look at percentage wise, I know it is much lower than what was there in the March 25th. So March 26th it is 2.3534 I think. No, last year March it was 3.35. So the NPA absolute amount has increased because of the borrower wise classification. And this when you do a borrower’s classification, a lot of this stage one and stage two customers also will be classified as an npa.<\/p>\n

Where there are no probably the interest servicing is done. So the interest reversals will be much lower.<\/p>\n

Rajiv Mehta<\/strong><\/p>\n

Correct.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

If you look at the LTV including on this NPI bucket, the including the interest accrued, it is only around 58 percentage On Stage three. On Stage three where we source a input, the interest plus principal is only 57%. So we are in the money. Technically we have to or maybe regulatory wise we have to show it as an NP. But it is 100%, 100% recoverable with interest Just The customer does not come forward to maybe close the loan or renew the loan etc. That is why it is seen as an impeachment.<\/p>\n

Rajiv Mehta<\/strong><\/p>\n

So if I were to look at your yield on a sustainable basis, I just need to subtract 50 crore of option and that 35 crore of arc, you know as being one offs. But otherwise what you reported 20.2% yield should be largely sustainable. Unless you make some pricing changes, right?<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Yeah. Pricing changes can happen because it’s a short term loan.<\/p>\n

Rajiv Mehta<\/strong><\/p>\n

Yeah, yeah, yeah. So this pricing increase in between happened because now when there was a sudden price increase.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

No, we thought no, we’ll some. No, we’ll take some benefit out of the increase in the gold price<\/p>\n

Rajiv Mehta<\/strong><\/p>\n

Increase in demand. Got it. Thank you so much investor.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Sir, the next question is from Sanskar, from IRA Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello. Hi. So sir, you touched upon the difference between like operational challenges that a newer player would face. If you can share just a brief color around, you know, in terms of examples I understand that there was like handling goals and everything. But apart from that is there any historically from your experience, experience. What are the major challenges<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Actually why we want to go into all these details, sir. Anyway, all this nuts and bolts of it that I told you the new players will understand after one year or so. Let us wait for them. Why we should put words into their mouth. Let them understand it at that time.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, understood. And if you can share some color around the growth, as you said that you give guidance around Aum. So if you can share growth guidance on that<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Always in the first quarter we have always been giving a guidance of 15% only. So as usual last 10 years we have been giving 15% guidance in the first quarter. So in quarter two or quarter three we will see how it is panning out and probably revise it.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you sir. The next question is from Jyoti Khatri from Ambit Wealth. Please go ahead. Yeah, please go ahead.<\/p>\n

Jyoti Khatri<\/strong><\/p>\n

Yeah. Thank you sir. Thanks for taking my questions. Just wanted to know one thing. This stage one, stage two, stage three increase that you said that it is because of borrower wise classification. Is that the only reason apart from that asset quality you want to stable. That’s why we said no on stage three assets including the interest dues, you know it is only 60 percentage, maybe 50, 58 percentage. So you can<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Including principal and interest is only 58% of the present market value of the gold. So it is not because of any, any impairment in the loan etc. It is only because of the regulatory, regulatory guidance that it should be shown as an empty. Excluding that factor. The I mean otherwise the access quality comments is stable 100 or we do we have our audit team also. So as a quality has always been stable. Wherever there is any, any anything else we just write off at that time.<\/p>\n

Jyoti Khatri<\/strong><\/p>\n

And secondly sir, how do you see AUM growth as a standalone entity and console Aum? Any guidance that you would like to you know put for next broad range? How do you anticipate how AUM broke to AUM to be an existence?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

So for the standalone Mukt Finance we have been always be giving a guidance of 15% last 10 years, the first quarter we have always been giving a guidance of 15. We’ll continue to do that. We will re look at it in Q2 or Q3. Q1 or Q2 after Q1 or after Q2 we will relook at the same.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Nishant Chavate from Kotak. Please go ahead.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

Hi. Thanks for taking my question. You know a couple of questions actually. Any, any, any strategy or any guidance on branch expansion during. After.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Yeah. Okay. So probably last year we opened 170 branches or so. This year maybe 200, 300 branches. That’s it.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

Okay, maybe 200, 300 versus 170. And this will be at the Atwood finance level, right? I mean would you. And maybe if you could give some guidance on consolidated gold branches across all the companies.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

I think Velstar, we were thinking of opening another 200 branches also because it is only about 100 branches. So Bellstar which is a micro finance company and Muthut Mani. I don’t think we are aggressively looking at behavior just because the branches are quite young. So we are waiting for it to mature a little more before opening many branches there.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

And. And 200 will be gold branches.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Yeah, sorry, sorry. Gold branches. Gold branches.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

Okay, got it. So essentially around roughly 200 in Mathur Finance and roughly 200 in Bellstar. I think that’s the way one thinks about it. Got it. The other thing is, you know, increase in stage two loans would also be similar reasons, you know, in terms of, you know, the borrower classification or any other reason.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Yes, yes. Primarily it has because of borrower class Fish and again no, it is not a much of a concern because it’s a 12 month bullet repayment loan. As in when the disbursements keep increasing naturally after 12 months there will be a corresponding gem in the stages.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

But all the increases in gold loans, right. Stage two and stage three, quarter on quarter increase that we see is in gold loans, right? I mean not the, not the non gold and anything specific that’s going in non gold loans I think which is also up around 3000 odd crores in a year. So anything specific that you are doing over there, these are unsecured loans or what are These loans,<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

These are unsecured personal loans, salaried personal loan and unsecured personal loans which is doing actually quite well. We have about 4000 crores of portfolio. It is mainly a cross sell to our existing or, or whole loan base. We have a gold loan base. We have. We give personal loans to them. Cross it.<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

Got it. And just finally on, you know, coming back to the yield part, you know you always kind of maintain that, you know, 18, 18 and a half percent is probably a more normalized yield. And obviously we have done almost 150 or 200 basis points higher this quarter. So would you kind of incrementally say that you know, the 20 plus is a new normal or would you probably say that, you know next year you would settle somewhere between 18 and a half to 20?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

I think finance, treasury finance says that the borrowing cost is looking north up north. So probably we expect borrowing costs also may go up in the coming. So probably we may not be able to reduce anymore. We may be able to maintain at this rate<\/p>\n

Nischint Chawathe<\/strong><\/p>\n

On a more normalized level. Yeah, sure. Great. Thank you very much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Vikram Subramanian from Marshall Waste. Please go ahead.<\/p>\n

Vikram Subramanian<\/strong><\/p>\n

Hello. Hi sir. Congrats on a good set of numbers and on the strong yields. I just wanted to get a clarification on the yields based on all that you have been commenting till now. So for the past three quarters we have had a few one offs in the yields from 300 to 600 crores per quarter based on NPA recoveries and ARD sales. You used to say. So the sustainable level of yield was something around 18.5% while the reported yields were 20, 20.3. Would you upgrade that 18.5% now for the next year or for a sustainable basis?<\/p>\n

Is that 18.5 now closer to 20.5?<\/p>\n

Oommen Mammen<\/strong><\/p>\n

It’s not. No. This number is not that particular. It’s not like a long term loan where we are giving a loan for 10 years or 5 years or 20 years. See this is a very short term. Tomorrow if you want to increase it, we can increase it. We may also reduce it. What is the impact? Because such things we have a comfortable margin this quarter. I think we have generated ROA for around seven and a half. So it doesn’t matter much in terms of ultimate impact on the return asset.<\/p>\n

So we don’t want to give a view that the same rates will continue because again to be very frank, unless I’ve just now asked on the competition, customer base, acquisition, etc. So we as an institution might take calls in different points of time. So we don’t want to give a commitment that the same yields will be maintained.<\/p>\n

Vikram Subramanian<\/strong><\/p>\n

Understood, Understood. But at least to clarify on that, the pricing increase that you took at some point in time in the past few months which has resulted in this yield as we speak as of mid May, that pricing has not reverted back to the previous lower pricing.<\/p>\n

Am I right in this understanding thing?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

From our point we don’t want to give out our strategy in terms of approach because it’s as everyone say, it is a highly competitive market. So what we roll out probably we can tell you after we execute it. We generally have to apply by the year also. That means year means ear. That thing coming. It’s all very short term load. We can, it’s always can be dynamic, we can reduce, we can increase etc. As required so that we maintain good growth as well as maintain a good profit. I think that decision, you should leave it to us. Every quarter you look at the numbers, we can explain what has happened and take a view based on the performance in the last several quarters.<\/p>\n

Vikram Subramanian<\/strong><\/p>\n

Understood? Got it sir. Just another clarification. This is on the competitive landscape which has again been discussed and you were very clear in your answer and it is very clear that you are the market leader and you have done this for multiple decades. So that experience definitely helps over cycles. But in the immediate near term are there any specific efforts to stop this?<\/p>\n

So I see 3% reduction in loan count, 2% reduction in active customer. Are there any specific efforts to stop this? Or is the approach more long term and that competitive intensity would just course correct over the long term.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

So let me. Yeah, I’ll clarify. See what we were trying to explain is being a large portfolio company being in existence for several decades, we have customers base across various ticket size. Now what happens is the small ticket size customers vanish over a period of time. At the same time we are creating higher ticket size customers also probably because the smaller ticket size customers were initially larger in number there the liquidation brings down the customer number has a larger impact whereas the higher ticket size customer the number may not be correspondingly the same.<\/p>\n

So which we call it as a churn in the customer base. So that number has not much of a relevance. Ultimately it depends on how much a customer wants etc. So incremental this phenomena will happen for all companies which will stabilize their business operations after some time. That’s why we said, you know, look at Muthud Mani’s case, slide number 19, Slide Number 19, muthut mani. The AUM is almost doubled, you know. There you are seeing increase in the tonnage. There you are seeing increase in the loan account numbers. There you are seeing increase in the customer base. But the same percentage increase you will not see happening in Muthur Finance. No. It is the same group, the same management. Two different normal. Which is what we are trying to educate the the investor community how this business functions.<\/p>\n

Vikram Subramanian<\/strong><\/p>\n

Understood? That’s. That’s. That’s clear.<\/p>\n

Got it. Thank you. Thanks for that.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Shipal Doshi from Equitas. Please go ahead Mr. Shripal.<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Hi sir. Thank you for giving me the opportunity. My question was firstly on the what is the interest accrual number during the quarter?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Any other questions?<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

The other question is that how many branches overlap with finance in terms of let’s say having it in 1 km or 2 km radius and the other follow up there or addition there is that. Now since there is no cap in terms of Muthu being allowed to or let’s say needing to take up approval from RBA in terms of branch expansion then. Then why are we thinking to do gold business in the subsidiaries that we have? Can we? I mean what is the thought process that there. Because now we can scale up the Mosut finance itself.<\/p>\n

Right? So just a thought.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

That’s your advice on a policy decision. I think we have to discuss it in Germany only.<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Just wanted to understand like what’s the thought process there.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

I think that’s a good decision. And that company is individual decisions. Let us leave it to them. Now your question about the.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

It’s 963crores. 963<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

And the branch overlap within 1km radius for both the entities Finance and good money broader<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

We have branches where we have finance. We have gold on NBFC number two golden number three in the same building. So Same building you will have all the competitors. Whenever Mutu Finance opens a branch all the competitors open branch side by side if possible next door or if possible 20ft, 30ft, 50ft. There is nothing like a 1 kilometer, 2 kilometer Etc. Where Muthut Mari saw an opportunity they opened the branch. Irrespective of whether Muthu finance is there for competitor number one competitor number two, competitor number 10 is there. There are so many competitors today.<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Got it. Got it. This one last question was on this the newer framework by RBI in terms of the gold financing player for the gold financing players. So from First Security we are supposed to maintain or monitor the LTVs more closely. So what are the things, what are the, you know, challenges are we facing at ground level or what are the deviations that we’ve made in terms of our processes, policies or operations point standpoint at branch level.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

So I think the policy has been quite good. The LTV maintaining has been from the last 10 years or 15 years back only the LTV came from that date till today. We are always maintaining the LTV at the RBA regulated rates. Only now they have given an option of giving 85%, 80% etc. So that gives us little more room for giving different types of LTVs and loan products to the customer. That’s the only advantage. Now the processes for that, the software for that is not easy. We are also in the process of doing it.<\/p>\n

We have rolled out some products also. So going forward we can, we can, what should we say, tailor, make more products for the customers. So last night everybody else is also coming out with newer, newer loan schemes etc in line with the, with the new relations. But your first question, we always, whether it is now or before, before this new regulation or previously, always been maintaining the LTV at the regulatory rates only.<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Got it, Got it. So can I just squeeze in one more question here if you don’t mind. Yeah. So the last question was if we have taken an interest like rate increase during the quarter and since we’re also following the final framework by RBI, our disbursement yields would have, our disbursement LTVs would have declined on a sequential basis. Right. Because if you’ve taken an interesting interest rate increase then the actual disbursement LTV typically would have come down now. So is that a fair understanding?<\/p>\n

And incrementally if we follow this, our LTV will continue to be sticky with rates we see happening at your level.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Now the new regulations allows you to follow two structures. If you are following a bullet trip, I mean you have to reduce the interest accrued. You know they’re also various options are available. If you are following a EMA structure you can give up to 85 percentage. You know I’m talking about 2 lakh 50 thousand. So. I know. So we have made some changes but at the end of the day it is in our interest to protect our interest. Right,<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Right.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

So we’ll take care of that. You know, we’ll discuss after first quarter on that. Know the strategies, you know, come to<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Terms with the new regulation. Got it. I, I’ll maybe take it offline with you sir, if you don’t mind.<\/p>\n

Oommen Mammen<\/strong><\/p>\n

Yeah,<\/p>\n

Shreepal Doshi<\/strong><\/p>\n

Thank you. Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next Question is from Shield Kumar Shah from Sumika Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Hello. Thank you. Am I audible? Yeah.<\/p>\n

Operator<\/strong><\/p>\n

Yes you are.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. So in continuation to LTV on an average, what’s our gold gold on LTV today and what, what LTV range we consider comfortable from a risk management perspective.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

So our today our gold loan LTV is 57% the average gold loan in our books. Yeah, 57.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And what range do we consider comfortable Range? Comfortable. Higher end or a lower end?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

On A higher end. I mean no RBA regulations allow up to 85% also. Yeah. But from a risk management, you know, I mean we don’t see much risk in giving at 85% currently. Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Historically how much high we have given on an average last 10 years,<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

It is up, you know, 75 percentage. You know, right now RB allows up to 85 percentage.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Yeah. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Rakesh Kumar for from volunteers. Please go ahead. Mr. Rakesh.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Hello.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, hi sir. So just a small question. So if we see loan aum per loan account with reference to the slide number 19, the number has gone up for Motut Finance as well as for Motut money by around 49, 48, 49% year on year. So is it that, you know, is that rise is due to the, you know, that customer borrower appetite just because of, you know, the gold loan price has gone up. And so what is the basic reason for such a, you know, SAR price in the loan aum per loan account?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

If you look at the same similar account, similar statistics for any nbsc, it will be the same because the loads are given for very short period, even three months to four months, the loan gets turned and new loans are priced at the new LTE. So somebody who had taken 51 lakh rupee last year, when he comes after one year for a 1 lakh rupee instead of 10 grams, he needs to go only 5 grams because the price has gone up. So definitely the grammars will be lesser and the LTV also will be higher. Not ltv, the loan amount will be higher.<\/p>\n

So small customers people take tend to take more loans also.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Well that’s, that’s fine. Taken that since the gold price is rising so obviously he can avail higher amount of loan for the same gold quantity. But why Should he take that much of loan?<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Okay, is there a need? Basically so you answered it. You know, see what happens is money is a new company. What happens is you are adding more and no more new customers. So number of customers has increased from 274 to 4 68. Now a lot of these new customers were looking at a higher ticket size customers. So Muthu Finance has no. If you look at more than 3 lakh ticket size customers we have 30 32% of the total book. So as and when the company increases its footprint as well as attracts more and more customers people from higher ticket size also might come in.<\/p>\n

So which which elevates the average ticket size number. But ultimately why should somebody pledge gold jewelry with a 25% margin? He has a requirement. So finally this business is driven by his working capital funding requirement. So if he has a need he will take a higher ticket size note. Somebody who has a know lower need he will take a lower load.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Why is he taking a loan? It is up to him because anyway he has to repay the loan. If he takes 1 lakh he will pay 1 lakh plus interest. He’s taken only 50,000 so there is a need for him. That is why he’s borrowing. Otherwise why should he borrow? See<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Basically this business you are dealing with large number of customs with varied needs from different funding requirements. So no that’s why you see all these numbers. So it’s very difficult for us also to explain it at the granular level. But his requirement is large which elevates the ticket price. Got it. So but like you know, like you know setting aside Muthut money if you look at Muthut Finance also the similar thing is happening there also the growth is around 48, 48% year on year Growing up or the last 5, 10 years maybe 5 years back average ticket was 15,000 then it became 25,000 then it became 30,000. Then you begin today I don’t know how much I think it is 1 lakh Maybe 1 lakh 30,000 5 Lakhs. It has increased to 1.5 lakhs from 1 lakh. So Basically you, you would also be trying to assess that you know what is the what they are doing doing with the loan amount. You would have also kind of looked into it what he asked them. So you know they must say that no somebody some people will say that no they have for business requirement etc. So the new guidelines kicking in. I know, I know there is some assessment about you know his income etc but beyond that you know customer may not cooperate. I know customer may say that no he’s using it for business purposes etc.<\/p>\n

Got it. At the end of the day because he has to pledge jewelry and only if he has a need he will pledge. Otherwise why should he part with a margin of 24% and pledge his jewelry? Yeah, if you include the baking charges, the borrower is parting with almost like 40, 50% of the value of the jewelry. Considering the inflation rise or considering the credit growth in the system, entire system, in the entire lending ecosystem, if this kind of a growth is there per customer or per loan account, that looks very surprising.<\/p>\n

So see, people are not using this money for making an investment or. No, these are all called working capital requirement. No, see money lending activity, you know, is short term. You know, somebody has a short term requirement, he is taking that funding. You know, either you can borrow from your friend or your relatives or you can pledge with the jewelry. You know, after the no. 2 weeks he will repay it, which is why we are talking about the churn in the portfolio. So he might be rotating also this like, you know, see today I know somebody coming and taking a loan.<\/p>\n

Two weeks later he will close it then he might come after maybe one month. True, true. Sure, sir, got it. Thank you, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you ladies and gentlemen. We will take this as a last question. I now hand the conference over to management for closing comments.<\/p>\n

George Alexander Muthoot<\/strong><\/p>\n

Okay, here from the management side, very happy that we have had lot of queries and questions and probably we hope that we have answered your question. We are always grateful to the investor community as well as the analysts who actually get clarification from us. It keeps us also, well, maybe on our toes. And from the management side, as a company we would like to grow the book, grow the company. Better results which will help customers to get more money for their, for their needs, for the customer, for the investors to get more returns and maybe for the company and the staff also to do well.<\/p>\n

So with all your cooperation, with all your support, we assure you that going forward also Muktuj Finance will put in all efforts at the top management up to the lowest level to see that the interests of all our stakeholders are well taken care of. So we with that thanking all of you and also the people who participated from here for what should I say, A very enriching conversation. Thank you and goodbye.<\/p>\n

Operator<\/strong><\/p>\n

Thank you on behalf of DAM Capital Advisors. That concludes this conference. Thank you for joining us and you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Muthoot Finance Limited (NSE: MUTHOOTFIN) Q4 2026 Earnings Call dated May. 14, 2026 Corporate Participants: George Alexander Muthoot \u2014 Managing Director Oommen Mammen \u2014 Chief Financial Officer Analysts: Sanket Chheda \u2014 Analyst Shubham Gupta \u2014 Analyst Rushabh Doshi \u2014 Analyst Abhijit Tibrewal \u2014 Analyst Rajiv Mehta \u2014 Analyst Unidentified Participant Jyoti Khatri \u2014 Analyst Nischint […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":123769,"url":"https:\/\/alphastreet.com\/india\/muthoot-finance-ltd-muthootfin-q4-fy21-earnings-concall\/","url_meta":{"origin":183005,"position":0},"title":"Muthoot Finance Ltd (MUTHOOTFIN) Q4 FY21 Earnings Concall","author":"Sahil_Anand","date":"June 2, 2021","format":false,"excerpt":"Muthoot Finance Ltd (NSE:MUTHOOTFIN) Q4 FY21 Earnings Concall dated June 02, 2021","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Finance-Ltd-Q4-FY21-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":130234,"url":"https:\/\/alphastreet.com\/india\/muthoot-finance-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":183005,"position":1},"title":"Muthoot Finance Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"May 27, 2022","format":false,"excerpt":"Key highlights from Muthoot Finance Limited (MUTHOOTFIN) Q4 FY22 Earnings Concall Management Update: MUTHOOTFIN said it expects borrowing costs to go up gradually during FY23. Gold AUM grew by 11% in FY22 and the company expects a growth of 12-15% for FY23. Q&A Highlights: Abhijit Tibrewal of Motilal Oswal asked\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":125365,"url":"https:\/\/alphastreet.com\/india\/earnings-muthoot-finance-reports-q2-fy22-results\/","url_meta":{"origin":183005,"position":2},"title":"Earnings: Muthoot Finance reports Q2 FY22 results","author":"Staff Correspondent","date":"November 4, 2021","format":false,"excerpt":"Gold loan company Muthoot Finance Ltd. (NSE: MUTHOOTFIN) reported its second quarter FY22 results today. Total income was \u20b92,833 crores, which was up 10% year-over-year. Profit after tax amounted to \u20b9994 crores, or \u20b924.77 per share, reflecting a growth of 11% from the same period last year. \u201cThe demand environment\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":140554,"url":"https:\/\/alphastreet.com\/india\/muthoot-finance-limited-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":183005,"position":3},"title":"Muthoot Finance Limited Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"February 8, 2023","format":false,"excerpt":"Key highlights from Muthoot Finance Limited (MUTHOOTFIN) Q3 FY23 Earnings Concall Q&A Highlights: [00:08:33] Sagar Shah from PhillipCapital asked if MUTHOOTFIN will return to the era of double-digit AUM growth that it experienced before. George Muthoot MD said it is difficult for people to enter the gold loan business and\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":133214,"url":"https:\/\/alphastreet.com\/india\/muthoot-finance-limited-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":183005,"position":4},"title":"Muthoot Finance Limited Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"August 16, 2022","format":false,"excerpt":"https:\/\/youtu.be\/GZ5YRKnNzyE Key highlights from Muthoot Finance Limited (MUTHOOTFIN) Q1 FY23 Earnings Concall Management Update: MUTHOOTFIN said that growth has been lower partly due to the branches focusing on migration of teaser loans that were under low rates to the higher rate scheme. The company said RBI recently gave it permission\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":123906,"url":"https:\/\/alphastreet.com\/india\/muthoot-capital-services-ltd-muthootcap-q4-fy21-earnings-concall\/","url_meta":{"origin":183005,"position":5},"title":"Muthoot Capital Services Ltd (MUTHOOTCAP) Q4 FY21 Earnings Concall","author":"Sahil_Anand","date":"June 21, 2021","format":false,"excerpt":"Muthoot Capital Services Ltd (NSE:MUTHOOTCAP) Q4 FY21 Earnings Concall dated June 21, 2021.","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/Muthoot-Capital-Services-Ltd-Q4-FY21-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=183005"}],"version-history":[{"count":2,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183005\/revisions"}],"predecessor-version":[{"id":183038,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183005\/revisions\/183038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=183005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=183005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=183005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}