India · Delayed Price · Currency is INR Muthoot Finance Earnings Call Transcripts
Fiscal Year 2026
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AUM and profit after tax saw record growth, led by a 50% year-over-year surge in the gold loan portfolio. Subsidiaries in home loans, microfinance, and vehicle finance also posted strong results. Regulatory changes and robust demand are expected to sustain momentum.
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Loan AUM grew 42% year-on-year and profit after tax rose 74% for H1 FY2026, with Gold Loan AUM up 10% in Q2. Yield expansion was driven by NPA recoveries, and cost of funds declined. FY2026 Gold Loan growth guidance was raised to 35% amid favorable regulatory and market conditions.
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Loan AUM and profit after tax saw robust year-on-year growth, driven by strong gold loan demand, higher yields from exceptional NPA recoveries, and digital initiatives. Regulatory changes and declining borrowing costs are expected to support continued growth.
Fiscal Year 2025
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Record AUM and profit growth driven by gold loans, with consolidated PAT up 20% and gold loan AUM surpassing INR 1 lakh crore. Regulatory changes and rising compliance costs are key watch areas, but guidance remains at 15% growth.
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Consolidated AUM grew 34% year-over-year, with strong gold loan and profit growth. Asset quality remains stable, non-gold NPAs are fully provided for, and digital partnerships are expanding. Guidance for FY 2026 is 15% loan growth.
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AUM surpassed INR 1 lakh crores with 28% YoY gold loan growth and 18% PAT increase. Gold loan growth guidance for FY25 was raised to 25%+, with strong new customer acquisition and robust non-gold segment growth. NPA ratios rose but credit losses remain low due to strong collateral.
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AUM and profits reached record highs, driven by strong gold loan growth and improved subsidiary performance. Asset quality remains robust, with higher GNPA due to customer-friendly policies, not underlying stress. Guidance for 15% AUM growth is maintained, with stable margins and rising funding costs.