Muthoot Finance (MUTHOOTFIN) Q1 24/25 earnings summary

Executive summary

• Consolidated loan AUM reached ₹98,048 crore as of June 30, 2024, up 28% YoY, with standalone AUM at ₹84,324 crore and record consolidated PAT of ₹1,196 crore for Q1 FY25.

• Gold loan assets grew 23% YoY to ₹80,922 crore, with disbursements at an all-time high of ₹73,648 crore in Q1 FY25.

• Subsidiaries Belstar Microfinance, Muthoot Homefin, and Muthoot Money posted strong double- or triple-digit YoY growth in AUM and profits.

• The group raised $650 million via global bond issuance and opened 280 new branches.

• Maintained strong capital adequacy and liquidity, with high credit ratings and a diversified funding profile.

Financial highlights

• Standalone total income for Q1 FY25 was ₹37,100.98 million, up from ₹30,263.22 million YoY; consolidated total income was ₹44,924.70 million, up from ₹35,087.00 million YoY.

• Standalone PAT for Q1 FY25 was ₹1,079 crore, up 11% YoY; consolidated PAT was ₹1,196 crore, up 14% YoY.

• Belstar Microfinance AUM rose to ₹9,952 crore, up 42% YoY; PAT up 74% YoY to ₹90 crore.

• Muthoot Homefin AUM reached ₹2,199 crore, up 47% YoY; Muthoot Money AUM increased to ₹1,657 crore, up 234% YoY.

• Basic and diluted EPS (consolidated) for Q1 FY25: ₹28.99, up from ₹25.46 YoY.

Outlook and guidance

• Maintains AUM growth guidance at 15% for the year, with possible revision after Q2 based on performance.

• Focus on expanding gold loan business, leveraging digital initiatives, and increasing rural and semi-urban penetration.

• Subsidiaries expected to continue strong growth, especially in microfinance and affordable housing.

• Branch expansion to continue, with plans to open 100-150 new branches this year.

• Financial results prepared in compliance with Ind AS and SEBI regulations; future adjustments may occur.