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Muthoot Microfin

MUTHOOTMF NSE
₹153.07 +4.79 (+3.23%)
P/E
10.64
View as Markdown
MCP
Close 4 Nov 2026 ₹153.07 −8.28 −5.13% 1Y
Start ₹161.35

Key Fundamentals

MicrocapFinanceFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

Debt to Equity
3.40
EPS (TTM)
₹14.39
Book Value
₹167.58
Market Cap
—
P/E (TTM)
10.64
P/B
0.91
ROE
6.22%
Dividend Yield
0.00%
52W High
₹262.77
52W Low
₹134.11
Day Range
₹146.59 – ₹155.88
Volume
4,75,248
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Microfinance › Microfinance Institutions

Muthoot Microfin peer comparison
CreditAccess Grameen
₹1,073.0010.84₹17,011 Cr1.930.94%10.50%—₹6,775 Cr₹1,587 Cr
Satin Creditcare
₹256.696.92₹2,743 Cr0.890.00%12.30%—₹3,209 Cr₹410 Cr
Muthoot Microfin (this company)
₹153.0710.64₹2,583 Cr0.910.00%6.22%—₹2,480 Cr₹245 Cr
Fusion Finance
₹153.5414.71₹2,454 Cr1.010.00%0.68%—₹1,699 Cr₹168 Cr
Spandana Sphoorty Financial
₹182.49—₹1,659 Cr0.810.00%−29.40%—₹1,007 Cr−₹327 Cr
Median 5 companies₹182.4910.74₹2,583 Cr0.910.00%6.22%—₹2,480 Cr₹245 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

42 Weak

Data confidence 94/100

Category scores

Quality
52
Average
Returns, margins, earnings quality 22% weight
Valuation
46
Average
Cheap vs sector & own history 24% weight
Growth
41
Weak
Sales & profit trajectory 9% weight
Financial Health
35
Poor
Solvency, leverage, coverage 9% weight
Momentum
14
Poor
Trend strength, vol-adjusted 12% weight
Ownership
43
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 1.05 times its book value

Weaknesses

2
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 5.19% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1054
OscillatorsNeutral252
Moving AveragesStrong Bearish802

Key readings

RSI (14)
41.70
Neutral
MACD (12,26,9)
−10.55
Bullish
SMA (50)
179.32
Bearish
SMA (200)
188.81
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+28.27%
3Y+18.45%
1Y−7.34%
TTM+0.94%

Net profit

Net profit growth by window
5Y+89.26%
3Y+1.20%
1YTurned to profit
TTMTurned to profit

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹748 Cr
Mar 2020₹860 Cr
Mar 2021₹684 Cr
Mar 2022₹833 Cr
Mar 2023₹1,429 Cr
Mar 2024₹2,249 Cr
Mar 2025₹2,563 Cr
Mar 2026₹2,375 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹201 Cr
Mar 2020₹18.00 Cr
Mar 2021₹7.00 Cr
Mar 2022₹47.00 Cr
Mar 2023₹164 Cr
Mar 2024₹450 Cr
Mar 2025−₹223 Cr
Mar 2026₹170 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹20.30 +99.8% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Muthoot Microfin (market cap ₹3,768 Cr, P/E 22.1x, P/B 1.32x) has swung from a net loss of ₹223 Cr in FY25 to a net profit of ₹170 Cr in FY26, driven by lower credit costs (3.5% in FY26 vs 9.4% in FY25) and improving asset quality (GNPA down 95 bps to 3.89%). However, total income declined 8% TTM and 3-year average ROE remains low at ~5%, reflecting the sector stress the company is still recovering from.

Bull Case 7
  • Turnaround from ₹223 Cr net loss in FY25 to ₹170 Cr net profit in FY26, demonstrating operational recovery
  • GNPA improved 95 bps from 4.84% in Q4 FY25 to 3.89% in Q4 FY26, with net NPA at 1.2%
  • Credit cost declined sharply from 9.4% in FY25 to 3.5% in FY26, reducing earnings drag
  • AUM grew 13% YoY in FY26 when the broader microfinance industry shrank 20%, indicating relative outperformance
  • Management upgraded FY27 growth guidance to 20% from earlier 12-15% range, signaling confidence in credit cycle recovery
  • Compounded 5-year sales CAGR of 28% reflects strong medium-term franchise growth despite recent TTM dip
  • Stock trades at P/B of 1.32x, below historical levels for profitable NBFCs, reflecting the FY25 loss year in valuations
Bear Case 8
  • TTM revenue declined 8% (total income fell from ₹2,564 Cr in FY25 to ₹2,381 Cr in FY26), signaling top-line pressure
  • 3-year average ROE of only 5.18% is well below the cost of equity for a leveraged NBFC-MFI
  • Low interest coverage ratio flagged as a structural concern given the company's leveraged balance sheet
  • GNPA at 3.89% remains elevated compared to 2.3% in March 2024, indicating asset quality is still normalizing
  • Zero dividend payout historically — no capital return to shareholders despite periods of profitability
  • FY26 EPS of ₹10.16 remains far below FY24's ₹30.20, showing earnings are still well below peak levels
  • NIM compressed from 17.57% in FY25 to 15.03% in FY26, reflecting competitive and regulatory pressure on yields
  • Microfinance sector faces ongoing regulatory scrutiny and borrower over-leverage risks that could trigger fresh stress cycles

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Muthoot Microfin is in a strong position with a credit rating upgrade to AA- enabling cheaper funding, cost of funds already down to 10.3%, and growth guidance raised to 20%. No material headwinds emerged in recent news, though the broader microfinance sector's challenging operating environment remains a background risk. The trend is clearly improving with rating upgrades, lower borrowing costs, and higher growth confidence.

Positives 3
  • Crisil upgrades rating to AA- Jun 11

    Crisil upgraded Muthoot Microfin's long-term credit rating to AA-/Stable from A+/Positive. Cost of funds declined from 11% in FY25 to 10.3% in Q4 FY26, with incremental cost at 9.9%.

  • Growth guidance raised to 20% Jun 10

    Co-CEO revised growth forecast upward to 20% from earlier 12-15% guidance, signaling improved business confidence for the microfinance lender.

  • ₹4,000 crore NCD issuance approved Jun 30

    Board approved raising ₹4,000 crore via Non-Convertible Debentures in FY27 to diversify funding sources. Hannah Muthoot also appointed as Additional Director.

Neutral 2
  • Investor meets in Mumbai Jun 29

    Company scheduled 1x1 or group investor meetings in Mumbai on June 22 and July 2, 2026. No unpublished price sensitive information to be shared.

  • AGM scheduling on agenda Jun 23

    Board meeting on June 30 also addressed scheduling the company's Annual General Meeting alongside the NCD approval.

Quarterly Results

₹ Cr
MUTHOOTMF quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
479
564
577
643
663
667
681
555
559
576
603
632
669
Expenses
150
189
208
227
273
334
428
845
333
318
304
300
306
Financing Profit
135
153
137
185
156
91
15
−512
16
47
77
101
116
Fin. Margin %
28%
27%
24%
29%
24%
14%
2%
−92%
3%
8%
13%
16%
17%
Other Income
1
2
2
2
0
1
1
1
0
1
3
7
2
Interest
194
221
232
231
234
241
237
222
210
211
222
232
247
Depreciation
8
9
9
10
10
11
11
11
11
11
10
11
11
PBT
128
147
130
177
147
81
5
−522
6
37
69
97
107
Tax %
25%
25%
4%
32%
23%
24%
25%
−23%
−7%
18%
10%
27%
24%
Net Profit
96
110
125
120
113
62
4
−401
6
31
62
71
81
EPS (₹)
8.19
9.38
7.31
7.02
6.64
3.61
0.22
−23.53
0.36
1.79
3.66
4.17
4.77
Gross NPA %
2.75%
—
—
—
—
—
3.03%
4.84%
4.85%
4.61%
4.4%
3.89%
—
Net NPA %
0.51%
—
—
—
—
—
0.34%
1.34%
1.58%
1.41%
1.34%
1.14%
—

Profit & Loss

₹ Cr
MUTHOOTMF profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
748
860
684
833
1,429
2,249
2,563
2,375
2,480
Expenses
243
543
369
417
658
772
1,880
1,254
1,228
Financing Profit
271
27
16
75
222
611
−248
247
340
Fin. Margin %
36%
3%
2%
9%
16%
27%
−10%
10%
14%
Other Income
2
6
12
10
17
6
2.75
5
13
Interest
234
291
299
340
549
866
930
874
911
Depreciation
3
14
19
21
27
35
43
43
43
PBT
271
20
9
65
213
582
−289
209
310
Tax %
26%
8%
22%
27%
23%
23%
−23%
18%
—
Net Profit
201
18
7
47
164
450
−223
170
245
EPS (₹)
17.63
1.59
0.62
4.15
14.03
26.37
−13.05
9.99
14.39
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
MUTHOOTMF balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
114
114
114
114
117
167
168
168
Reserves
772
793
776
1,203
1,486
2,637
2,465
2,687
Borrowing
2,451
2,997
3,094
4,107
6,646
8,589
8,101
9,707
Other Liabilities
193
187
200
167
280
197
123
123
Total Liabilities
3,530
4,092
4,184
5,591
8,529
11,590
10,857
12,685
Fixed Assets
21
109
110
121
172
215
223
199
CWIP
1
0
0
0
0
0
0
0
Investments
0
0
0
0
63
47
354
406
Other Assets
3,509
3,983
4,074
5,470
8,294
11,329
10,280
12,080
Total Assets
3,530
4,092
4,184
5,591
8,529
11,590
10,857
12,685

Cash Flow

₹ Cr
MUTHOOTMF cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−602
114
−704
−1,084
−2,333
−1,272
1,382
−580
Investing
−6
−66
−38
−74
−180
−225
−128
−41
Financing
707
463
80
1,344
2,567
1,671
−1,485
626
Net Cash Flow
99
511
−662
187
54
174
−230
4
Free Cash Flow
−613
91
−712
−1,095
−2,361
−1,299
1,361
−591
CFO/OP
−105
49
−222
−248
−298
−78
219
−52

Ratios

MUTHOOTMF financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
23%
2%
1%
4%
11%
20%
−8%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Muthoot Microfin insights

41 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.47%
  • FIIs 23.19%
  • Public 16.67%
  • DIIs 3.08%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Muthoot Microfin

What does Muthoot Microfin Ltd do?
Founded in April 1992, Muthoot Microfin Limited, a subsidiary of Muthoot Pappachan Group, provides micro-loans to female customers with a focus on rural regions in India
Where is Muthoot Microfin Ltd (MUTHOOTMF) listed?
Muthoot Microfin Ltd trades as MUTHOOTMF on the NSE and under code 544055 on the BSE.
Which sector does Muthoot Microfin Ltd belong to?
Muthoot Microfin Ltd is classified under the Financial Services sector, in the Microfinance industry.
What is the PE ratio of Muthoot Microfin Ltd?
Muthoot Microfin Ltd trades at a PE ratio of 10.64 as of 4 Nov 2026, on earnings per share of ₹14.39, against a book value of ₹167.58 per share.
What is the 52-week high and low of Muthoot Microfin Ltd?
Over the last 52 weeks Muthoot Microfin Ltd has traded between ₹134.11 and ₹262.77 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Muthoot Microfin Ltd?
Muthoot Microfin Ltd reported a return on equity of 6.22%. Its debt-to-equity ratio is 3.40.

Company Information

Founded in April 1992, Muthoot Microfin Limited, a subsidiary of Muthoot Pappachan Group, provides micro-loans to female customers with a focus on rural regions in India

Website muthootmicrofin.com
Listed 26 Dec 2023
Face Value ₹10

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