Muthoot Finance

₹1691.7 27.5 | 1.7%

WEBSITE BSE:533398 NSE : MUTHOOT FIN 13 May, 15:58

Market Cap ₹67915 Cr.

Stock P/E 16.3

P/B 2.8

Current Price ₹1691.7

Book Value ₹ 598.3

Face Value 10

52W High ₹1753

Dividend Yield 1.3%

52W Low ₹ 1022.9

Edit Ratio

Muthoot Finance Research see more...

Overview Inc. Year: 1997Industry: Finance - NBFC

Muthoot Finance Limited is a gold financing agency. The Company is a NBFC, that's engaged in providing loan (financing) towards collateral of jewellery. The Company operates through 2 segments: Financing and Power Generation. The Company offers personal and business loans (secured by using gold jewellery) primarily to individuals having no access to formal credit for an inexpensive tenure to fulfill their short-term period operating capital necessities. The Company offers gold loans, foreign inward cash switch services, foreign exchange services, coverage broker, domestic loans, private loans, series offerings, microfinance, wind mill power generation, white label computerized teller machine, immediately cash transfer offerings and domestic cash transfer offerings. The Company has a community of approximately 4,294 branches throughout India. In Sri Lanka, the Company offer corporate loans, mortgage loans, factoring, business loan and short term loans, among others.

Muthoot Finance Share Price

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Peer Comparison

Muthoot Finance Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Operating Revenue	3052	3156	3021	2788	2825	3010	3275	3472	3606	3820
Other Income	13	12	20	16	17	21	23	37	26	23
Total Income	3065	3168	3041	2804	2842	3030	3298	3509	3632	3843
Total Expenditure	620	692	636	624	596	715	829	847	805	872
Operating Profit	2445	2476	2405	2180	2246	2315	2469	2662	2827	2971
Interest Expense	1077	1061	1032	1051	1021	1047	1091	1236	1335	1412
Depreciation	16	18	21	17	18	20	23	19	22	24
Profit Before Tax	1352	1397	1352	1112	1207	1249	1355	1407	1470	1534
Provision for Tax	349	353	346	287	305	315	346	362	375	389
Profit After Tax	1003	1044	1006	825	902	934	1009	1045	1095	1145
Adjustments	-1	-4	-9	-6	-10	-6	-36	-23	-36	-42
Profit After Adjustments	1002	1040	997	819	892	928	973	1022	1060	1104
Adjusted Earnings Per Share	25	25.9	24.8	20.4	22.2	23.1	24.2	25.5	26.4	27.5

Muthoot Finance Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	4325	4920	5911	6713	7594	9687	11535	12186	11898	14173
Other Income	12	21	28	69	7	26	36	53	77	109
Total Income	4337	4941	5938	6782	7601	9714	11570	12238	11975	14282
Total Expenditure	1110	1268	1554	1656	1747	2214	2263	2490	2749	3353
Operating Profit	3227	3673	4384	5126	5854	7499	9308	9748	9226	10929
Interest Expense	2114	2288	2374	2132	2543	3180	4109	4268	4225	5074
Depreciation	84	59	52	52	52	59	67	70	78	88
Profit Before Tax	1029	1327	1959	2942	3260	4260	5131	5410	4923	5766
Provision for Tax	357	509	751	1098	1157	1092	1313	1379	1253	1472
Profit After Tax	672	818	1207	1844	2103	3169	3819	4031	3670	4294
Adjustments	-1	-3	-7	-14	-25	-30	-14	-15	-57	-137
Profit After Adjustments	671	815	1200	1830	2078	3138	3804	4017	3612	4159
Adjusted Earnings Per Share	16.9	20.4	30	45.7	51.9	78.3	94.8	100.1	90	103.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-2%	7%	12%	0%
Operating Profit CAGR	-5%	7%	12%	0%
PAT CAGR	-9%	5%	15%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	58%	13%	25%	24%
ROE Average	18%	23%	24%	22%
ROCE Average	12%	14%	15%	15%

Muthoot Finance Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	5084	5622	6538	7857	9931	11829	15575	18786	21666
Minority's Interest	29	38	72	73	142	172	185	352	487
Borrowings	6766	5427	4845	9664	12797	16947	25863	32478	36374
Current Liability	14261	15180	20047	15778	18830	25870	26960	24633	21557
Other Liabilities & Provisions	1170	1071	618	281	-2	46	-0	-41	1
Total Liabilities	27310	27338	32121	33653	41698	54865	68582	76208	80085
Loans	92	136	705	0	0	0	0	0	0
Investments	5	15	16	56	184	575	240	476	403
Fixed Assets	269	235	257	237	244	298	313	332	377
Other Loans	99	103	102	106	123	133	161	148	188
Other Non Current Assets	7	11	44	12	38	54	63	76	94
Current Assets	26839	26839	30996	33227	41094	53789	67791	75166	79014
Total Assets	27310	27338	32121	33653	41698	54865	68582	76208	80085

Muthoot Finance Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1957	1748	711	1375	641	2028	5866	7801	10060
Cash Flow from Operating Activities	-479	108	-2186	-1432	-4824	-4970	-7814	-1596	-2804
Cash Flow from Investing Activities	-13	-46	-183	-125	-165	-384	40	422	181
Cash Flow from Financing Activities	249	-1102	3027	824	6351	9193	9712	3445	395
Net Cash Inflow / Outflow	-243	-1039	657	-734	1362	3839	1938	2271	-2228
Closing Cash & Cash Equivalent	1748	711	1375	641	2006	5866	7801	10060	7831

Muthoot Finance Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	16.86	20.41	30.03	45.74	51.86	78.25	94.83	100.08	89.98
CEPS(Rs)	18.99	21.97	31.52	47.39	53.78	80.49	96.87	102.19	93.36
DPS(Rs)	6	6	6	10	12	15	20	20	22
Book NAV/Share(Rs)	127.23	140.35	163.11	195.93	247.46	294.64	387.95	467.92	539.64
Net Profit Margin	15.53	16.62	20.42	27.47	27.69	32.71	33.11	33.08	30.84
Operating Margin	72.67	73.46	73.3	75.58	76.4	76.8	80.11	79.42	76.89
PBT Margin	23.79	26.96	33.14	43.83	42.92	43.98	44.49	44.4	41.38
ROA(%)	2.46	2.99	4.06	5.61	5.58	6.56	6.19	5.57	4.7
ROE(%)	13.26	15.34	19.93	25.69	23.69	29.16	27.89	23.48	18.15
ROCE(%)	12.72	14.7	16.29	16.78	16.16	16.03	15.56	13.89	12.13
Price/Earnings(x)	12.39	8.72	12.3	8.91	11.87	7.82	12.72	13.28	10.88
Price/Book(x)	1.64	1.27	2.26	2.08	2.49	2.08	3.11	2.84	1.81
Dividend Yield(%)	2.87	3.37	1.62	2.45	1.95	2.45	1.66	1.5	2.25
EV/Net Sales(x)	6.05	5.13	5.97	5.88	6.93	6.12	7.87	8.01	7.32
EV/Core EBITDA(x)	8.11	6.87	8.05	7.7	8.98	7.91	9.75	10.01	9.44
Interest Earned Growth(%)	0	13.77	20.14	13.57	13.14	27.56	19.07	5.64	-2.36
Net Profit Growth	0	21.78	47.62	52.72	14.06	50.68	20.52	5.56	-8.97
EPS Growth(%)	0	21.06	47.13	52.3	13.39	50.88	21.18	5.54	-10.09
Interest Coverage(x) %	1.49	1.58	1.83	2.38	2.28	2.34	2.25	2.27	2.17

Muthoot Finance Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	73.37	73.37	73.37	73.35	73.35	73.35	73.35	73.35	73.35	73.35
FII	13.67	12.13	10.96	9.93	10	9.37	8.7	8.12	8.33	8.33
DII	8.48	9.67	10.48	11.76	12.02	12.66	13.73	14.65	14.6	14.71
Public	4.48	4.83	5.2	4.96	4.63	4.62	4.22	3.89	3.72	3.6
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	29.45	29.45	29.45	29.45	29.45	29.45	29.45	29.45	29.45	29.45
FII	5.48	4.87	4.4	3.99	4.02	3.76	3.49	3.26	3.34	3.35
DII	3.4	3.88	4.21	4.72	4.82	5.08	5.51	5.88	5.86	5.91
Public	1.8	1.94	2.09	1.99	1.86	1.85	1.7	1.56	1.49	1.45
Others	0	0	0	0	0	0	0	0	0	0
Total	40.13	40.13	40.14	40.14	40.14	40.14	40.14	40.15	40.15	40.15

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 23%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.