Muthoot Finance (MUTHOOTFIN) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated loan AUM of ₹1,22,181 Cr (up 37% YoY); standalone loan AUM at ₹1,08,648 Cr (up 43% YoY).

• Consolidated PAT reached ₹5,362 Cr (up 20% YoY); standalone PAT at ₹5,201 Cr (up 28% YoY).

• Gold loan AUM crossed ₹1,02,956 Cr, up 41% YoY; gold held as security at 208 tonnes, up 11% YoY.

• Highest ever dividend declared at ₹26/share (260% of face value); 850 new branches opened.

• S&P and Moody’s upgraded long-term issuer ratings with stable outlooks.

Financial highlights

• Interest income grew 35% YoY to ₹1,96,629 Mn; total income up 34% YoY to ₹2,03,245 Mn.

• Net interest margin at 11.45%; return on average loan assets at 5.81%.

• Capital adequacy ratio at 23.71%, well above regulatory requirements.

• Muthoot Money's loan AUM grew 248% to ₹3,903 Cr; PAT at ₹12 Cr, up 162% YoY.

• Belstar Finance revenue up 15% to ₹2,125 Cr; loan AUM at ₹7,970 Cr; PAT at ₹46 Cr.

Outlook and guidance

• Maintains conservative growth guidance of 15% YoY for gold loan AUM, with potential revision after Q2.

• Focus on leveraging digital initiatives and analytics to drive growth and operational efficiency.

• Continued expansion in Tier II/III cities and cross-selling to gold loan customers.

• Regulatory environment seen as positive; company aligned with new guidelines.