MUTHOOTFIN
Muthoot Finance share price & financials
- Price
- ₹3,126.1
- Market cap
- ₹1.2L Cr
- Sector
- Financial Services
- Calls analysed
- 6
Muthoot Finance Limited Q1 FY27
What went well
- Consolidated Loan AUM expanded by 43% year-on-year, reaching INR191,000 crores as of June 30, 2026.
- Consolidated profit after tax for Q1 FY27 delivered a 43% year-on-year growth, coming in at INR2,825 crores.
- Stand-alone Return on Average Assets (RoA) was 6.09% and Return on Average Equity (RoE) was 26.6% during the quarter.
What to watch
- Yield in Q1 FY27 dropped to 17.93% from 20.76% in Q4 FY26, a decline of approximately 283 bps, attributed to lower interest rates and a lack of one-time recoveries.
- Management acknowledged the possibility of industry-wide rate drops due to aggressive competition.
What Muthoot Finance Limited does
Muthoot Finance is an RBI-registered (Upper Layer) non-banking financial company focused since 1939 on gold-secured lending, disbursing short-tenure loans against customers' pledged gold jewellery from its branch counters. It earns primarily from interest on gold loans, supplemented by group subsidiaries spanning affordable housing finance, microfinance, insurance distribution and overseas lending. Almost its entire loan book is secured by physical gold held in branch vaults, and it serves borrowers ranging from households to micro-enterprises across India.
Segments
- Gold Loans
- Affordable Housing Finance
- Microfinance
- Insurance Distribution
- International Lending
- Market position
- No.1 gold-loan NBFC in India; most-trusted financial services brand (TRA) for 10 consecutive years
- Pan-India branches (standalone)
- 4,968
- Group branch network (incl. subsidiaries)
- 7,568
- States & Union Territories covered
- 29
- Active customers (standalone)
- 6.41 million
- Customers served per day
- 200,000+
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 2 delivered 4 missed 8 open- Belstar Microfinance Profitability delivered said Q1 FY26 Promised: By Q3, they would be able to come back to the maybe starting some profit. Q1 FY27: Belstar reported a strong PAT of 66 cr in Q1 FY27, continuing its profitable performance.
- Gold Loan AUM Growth delivered said Q4 FY25 Promised: Minimum growth guidance of 15% for this year Q1 FY27: Promise pertains to FY26 and is considered complete.
- Interest Spread at risk said Q4 FY25 Promised: Maintain in the range of 9% to 10% Q1 FY27: Yield dropped significantly to 17.93% from 20.76% in the previous quarter. With borrowing costs expected to rise, the target spread of 9-10% is at risk.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 34.4%, net profit up 43.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,929 | 5,190 | 5,622 | 6,450 | 7,283 +48% | 8,188 +58% | 9,289 +65% | 8,672 +34% |
| Net profit | 1,321 | 1,392 | 1,444 | 1,974 | 2,412 +83% | 2,823 +103% | 3,397 +135% | 2,825 +43% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −3.7% 1Y
1Y: ₹2,898.1 on 10 Sept 2025 → ₹2,792.1. High ₹4,091.7 (29 Jan 2026), low ₹2,792.1 (11 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −7.3%
- 1 Aug
- Q4 FY26
- +0.7%
- 14 May
- Q3 FY26
- +3.4%
- 12 Feb
- Q2 FY26
- +2.1%
- 13 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 37.9% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹11.9k Cr | ₹15.1k Cr | ₹20.2k Cr | ₹31.2k Cr |
| Interest | ₹4.2k Cr | ₹5.4k Cr | ₹7.4k Cr | ₹11.0k Cr |
| Depreciation | ₹78 Cr | ₹92 Cr | ₹117 Cr | ₹137 Cr |
| Net profit | ₹3.7k Cr | ₹4.5k Cr | ₹5.4k Cr | ₹10.6k Cr |
| Net margin | 30.8% | 29.7% | 26.5% | 34.0% |
| Cash from operations | ₹-2.8k Cr | ₹-13.6k Cr | ₹-26.5k Cr | ₹-47.4k Cr |
| Free cash flow | ₹-2.9k Cr | ₹-13.8k Cr | ₹-26.7k Cr | ₹-47.5k Cr |
| ROE | 18.0% | 18.0% | 20.0% | 31.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹401 Cr | ₹401 Cr | ₹401 Cr | ₹401 Cr | ₹401 Cr | ₹401 Cr |
| Reserves | ₹15.2k Cr | ₹18.4k Cr | ₹21.3k Cr | ₹24.7k Cr | ₹32.4k Cr | ₹38.7k Cr |
| Borrowings | ₹50.4k Cr | ₹54.6k Cr | ₹55.8k Cr | ₹68.1k Cr | — | ₹151.8k Cr |
| Other liabilities | ₹2.6k Cr | ₹2.9k Cr | ₹2.7k Cr | ₹3.2k Cr | ₹4.6k Cr | ₹4.8k Cr |
| Total liabilities | ₹68.6k Cr | ₹76.3k Cr | ₹80.1k Cr | ₹96.5k Cr | ₹160.7k Cr | ₹195.7k Cr |
| Fixed assets | ₹327 Cr | ₹342 Cr | ₹386 Cr | ₹482 Cr | ₹671 Cr | ₹721 Cr |
| Capital work in progress | ₹39 Cr | ₹52 Cr | ₹67 Cr | ₹89 Cr | ₹10 Cr | ₹11 Cr |
| Investments | ₹809 Cr | ₹523 Cr | ₹546 Cr | ₹712 Cr | ₹5.2k Cr | ₹550 Cr |
| Other assets | ₹67.5k Cr | ₹75.4k Cr | ₹79.1k Cr | ₹95.2k Cr | ₹154.9k Cr | ₹194.4k Cr |
| Total assets | ₹68.6k Cr | ₹76.3k Cr | ₹80.1k Cr | ₹96.5k Cr | ₹160.7k Cr | ₹195.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −1.46 pp while FIIs added +0.77 pp. The shareholder count grew 8% to 3,12,071.
- Promoters
- 73.3%
- FIIs
- 11.6%
- DIIs
- 10.8%
- Public
- 4.3%
Since Jun 2025
- DIIs −1.46 pp
- FIIs +0.77 pp
- Public +0.69 pp
How it drifted, 12 quarters
Over this window DIIs fell from 14.6% to 10.8% — −3.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.3%, FIIs 8.1%, DIIs 14.6%, Public 3.9%.Dec '23: Promoters 73.3%, FIIs 8.3%, DIIs 14.6%, Public 3.7%.Mar '24: Promoters 73.3%, FIIs 8.3%, DIIs 14.7%, Public 3.6%.Jun '24: Promoters 73.3%, FIIs 8.7%, DIIs 14.6%, Public 3.4%.Sep '24: Promoters 73.3%, FIIs 9.8%, DIIs 13.3%, Public 3.5%.Dec '24: Promoters 73.3%, FIIs 10.3%, DIIs 13.0%, Public 3.4%.Mar '25: Promoters 73.3%, FIIs 11.0%, DIIs 11.8%, Public 3.9%.Jun '25: Promoters 73.3%, FIIs 10.8%, DIIs 12.2%, Public 3.6%.Sep '25: Promoters 73.3%, FIIs 11.6%, DIIs 11.4%, Public 3.7%.Dec '25: Promoters 73.3%, FIIs 11.8%, DIIs 11.1%, Public 3.8%.Mar '26: Promoters 73.3%, FIIs 12.3%, DIIs 10.4%, Public 3.9%.Jun '26: Promoters 73.3%, FIIs 11.6%, DIIs 10.8%, Public 4.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Motilal Oswal Mutual Fund Mutual fund newly disclosed 1.06% held
- SBI Mutual Fund Mutual fund +0.63 pp 5.35% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Muthoot Finance Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| George Jacob Muthoot | 10.87% | unchanged |
| George Thomas | 10.87% | unchanged |
| Susan Thomas | 7.47% | unchanged |
| Sara George | 7.23% | unchanged |
| George Alexander Muthoot | 5.89% | unchanged |
| George M George | 5.55% | unchanged |
| Alexander George | 5.55% | unchanged |
| SBI Mutual Fund Mutual fund | 5.35% | +0.63 pp |
| Eapen Alexander | 4.37% | unchanged |
| George M Alexander | 4.37% | unchanged |
| George M Jacob | 3.75% | unchanged |
| Elizabeth Jacob | 3.72% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in MUTHOOTFIN
Filings to Aug 2026
0 new, 12 added, 1 trimmed, 1 sold out — net +25.88 L shares (+12.8%).
- Held by funds
- ₹6.8k Cr
- 21 schemes
- Biggest holder
- SBI Focused Fund
- ₹2.4k Cr · 4.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Focused Fund SBI Mutual Fund | ₹2.4k Cr | +11.89 L | Aug '21 |
| SBI Aggressive Hybrid Fund SBI Mutual Fund | ₹2.1k Cr | held | Feb '22 |
| SBI Banking And Financial Services Fund SBI Mutual Fund | ₹444 Cr | +3.27 L | Dec '22 |
| SBI Smallcap Fund SBI Mutual Fund | ₹387 Cr | held | May '26 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹375 Cr | +3.27 L | Mar '26 |
| SBI MultiCap Fund SBI Mutual Fund | ₹283 Cr | +3.00 L | May '26 |
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹229 Cr | held | Oct '22 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹113 Cr | +0.12 L | Mar '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
12 added, 1 trimmed — net +25.88 L shares (+12.8%)
- Funds are sitting on
- +58%
- vs est. average cost
- Held by funds
- ₹6.8k Cr
- 21 schemes · ≈ 6.1% of the company
- Biggest holder
- SBI Focused Fund
- ₹2.4k Cr · 4.8% of that fund
Shares held by these funds −39%
Aug '23 2.05 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Muthoot Finance Limited
Guides on how to read this kind of business and the numbers that matter.