Muthoot Finance logo

Muthoot Finance share price

NSE: MUTHOOTFINBSE: 533398FinanceLarge Cap

Muthoot Finance Limited · Face value ₹10 · Listed May 2011
Last close ₹2,407.50up ₹11.70 (0.49%)BSE ₹2,405.00

Share price at the NSE close on 27 Oct 2026. Previous close ₹2,395.80.

27 Oct: open ₹2,389.10, high ₹2,407.70, low ₹2,382.80

52-week range of traded prices to 27 Oct 2026
₹2,331.90Low, 23 Oct 2026₹4,149.50High, 29 Jan 2026
Market cap
₹96,654 Cr67th largest listed
P/E
8.50
P/B
2.47
Dividend yield
1.25%
ROE
33.2%
NIM
12.81%
Cost of funds
8.76%
Credit cost
0.69%
ROA
6.46%
Leverage
4.71times net worth
Volume, NSE
2,55,60137.1% delivered

Muthoot Finance share price chart

Daily closes since May 2011, adjusted for splits and bonuses

−23.5%over a year · Nifty Financial Services −11.7% · Nifty 500 −8.8%

ResultsDividend20-session average 5,82,097 shares a day, 50.3% delivered

About Muthoot Finance

Muthoot Finance Limited lends money against gold jewellery that households pledge as security, and is India's largest gold loan NBFC (non-banking financial company, a lender that is not a bank) by loan portfolio, the company says.1 Headquartered in Kochi, Kerala, it serves small business owners, vendors, traders, farmers and salaried people through branches across India.12

Gold loans are its main product; it also offers personal and business loans, loans against property, and money transfer and collection services.3 Around it sit 5 operating subsidiaries: Muthoot Money, a separately branded gold lender; Belstar Microfinance, which lends to women through self-help groups; Muthoot Homefin, an affordable housing lender; Muthoot Insurance Brokers; and Asia Asset Finance, a listed, deposit-taking lender in Sri Lanka.45 It operates in 22 states, the national capital territory of Delhi and 6 union territories, as of Mar 2026.2

The Muthoot Group began as a trading business in a Kerala village in 1887 and entered gold lending in 1939 with a branch at Kozhencherry, Kerala.6 The company was incorporated on 14 March 1997 and listed its shares on the NSE and BSE on 6 May 2011.7 The Reserve Bank classified it as an Upper Layer NBFC, the tier of its rules for the largest non-bank lenders, in a press release of 30 Sep 2022.7

The promoter group held 73.35% of the shares at the end of March 2026; its members include chairman George Jacob Muthoot and, as of Aug 2026, managing director George Alexander Muthoot.89

Muthoot Finance key points

Results

  • In the quarter to Jun 2026, consolidated profit after tax was ₹2,825 crore and consolidated loan assets under management (AUM, the loans it has made and not yet been repaid) ₹191,532 crore, both up 43% on a year earlier.10
  • On a standalone basis (the company without its subsidiaries), profit after tax was ₹2,550 crore in the quarter to Jun 2026, up 25%.11
  • In the quarter to Jun 2026, consolidated total income was ₹86,948 million, against ₹64,657 million a year earlier.12
  • In the year to Mar 2026, consolidated total income was ₹3,12,634.10 million, against ₹2,02,650.86 million a year earlier, and consolidated profit for the year ₹1,06,068.67 million, against ₹53,523.61 million.13

Market position

  • The company puts its share of the gold loan market among NBFCs at 47%, citing a CRISIL industry report updated in Jan 2026.14
  • It is the only NBFC focused purely on gold loans in the Reserve Bank's Upper Layer (the tier for the largest non-bank lenders), a status it held for the fourth consecutive year in the year to Mar 2026.15

Loan book

  • Standalone loan AUM was ₹172,053 crore at the end of June 2026, up 43% on a year earlier. The company says 92% of its loan book is secured by gold.1116
  • In the quarter to Jun 2026 the company lent ₹8,937 crore in gold loans to 4,82,707 new customers. Consolidated gold loan AUM, including subsidiaries, was ₹1,75,527 crore, up 48%.17
  • Loan AUM of the subsidiaries, ₹ million18
    ItemJun 2026Jun 2025
    Muthoot Money105,50350,001
    Belstar Microfinance78,42277,065
    Muthoot Homefin34,96230,961
    Asia Asset Finance14,7989,947
  • Stage III loans (loans classed as non-performing) were 2.28% of standalone loan assets at the end of June 2026, against 2.58% a year earlier.19

Branches and reach

  • Its presentation for the quarter to Jun 2026 gives the company 5,029 branches and 31,617 employees, and the group 7,654 branches including subsidiaries.2021
  • Muthoot Finance had 6.58 million active customers at the end of June 2026 and serves more than 2,00,000 customers a day.22

Borrowings and ratings

  • Borrowings by source, principal23
    ItemJun 2026
    Banks and financial institutions₹646,058 million (43%)
    Listed secured non-convertible debentures (bonds that cannot become shares)₹510,752 million (34%)
    Senior secured notes sold abroad₹260,322 million (17%)
    Commercial paper (short-term notes)₹60,834 million (4%)
    Other loans₹9,149 million (1%)
    Listed subordinated debt₹4,500 million (0%)
  • CRISIL and ICRA rate its long-term debt AA+ (Stable); internationally it is rated BB+ by Fitch and S&P and Ba1 by Moody's, after upgrades by Fitch on 22 Aug 2025 and Moody's on 2 Apr 2025.24
  • Its capital adequacy ratio (capital as a share of risk-weighted assets) was 20.30% at the end of June 2026, against a regulatory minimum of 15%.2526

What the company expects

  • On its earnings call of 14 May 2026, the company said its guidance for standalone loan AUM growth in the year to Mar 2027 is 15%, as in each of the last 10 years.27
  • On its earnings call of 14 May 2026, the company said it may open 200 to 300 branches in the year to Mar 2027, against about 170 the year before, and that it was thinking of opening about 200 gold loan branches at Belstar.2829

Recent events

  • On 31 Aug 2026, the board approved a scheme to merge Muthoot Money, its gold loan subsidiary with 1006 branches, into the company, subject to the National Company Law Tribunal, Kochi, and approvals from the Reserve Bank, shareholders and creditors.3031
  • The notice for the annual general meeting of 31 Aug 2026, dated 1 Aug 2026, carried the board's recommendation of Alexander George as managing director and George Alexander Muthoot as vice chairman from 1 Oct 2026; the company's documents give no outcome.3233
  • On 4 Feb 2026, the company issued $600 million of 5.75% senior secured notes (bonds backed by its assets) under a $2 billion programme for issuing such notes over time.34

Litigation and regulatory matters

  • As of its annual report of 7 Aug 2026, the company was preparing appeals against tax demands from the Kochi income tax office (order of 30 Mar 2026) and the Kerala GST department (order of 6 Jun 2025), and says neither has a material impact.35
  • It was also preparing rectification applications or appeals against state tax demands from Delhi (order of 23 Feb 2025) and Telangana (order of 28 Mar 2025), which it says have no material impact.36
  • The Reserve Bank imposed a monetary penalty on the company in the year to Mar 2025 for not complying with parts of its Know Your Customer (identity check) Directions, 2016; the company paid the fine and says it has taken corrective action.37

Last updated

All 37 sources, each with its page
  1. 1. Annual report, 7 Aug 2026, page 12
  2. 2. Annual report, 7 Aug 2026, page 66
  3. 3. Investor presentation, 1 Aug 2026, page 12
  4. 4. Annual report, 7 Aug 2026, page 16
  5. 5. Annual report, 7 Aug 2026, page 7
  6. 6. Annual report, 7 Aug 2026, page 13
  7. 7. Annual report, 7 Aug 2026, page 124
  8. 8. Investor presentation, 1 Aug 2026, page 13
  9. 9. Annual report, 7 Aug 2026, page 99
  10. 10. Investor presentation, 1 Aug 2026, page 6
  11. 11. Investor presentation, 1 Aug 2026, page 6
  12. 12. Investor presentation, 1 Aug 2026, page 24
  13. 13. Annual report, 7 Aug 2026, page 54
  14. 14. Investor presentation, 1 Aug 2026, page 15
  15. 15. Annual report, 7 Aug 2026, page 54
  16. 16. Investor presentation, 1 Aug 2026, page 15
  17. 17. Investor presentation, 1 Aug 2026, page 7
  18. 18. Investor presentation, 1 Aug 2026, page 19
  19. 19. Investor presentation, 1 Aug 2026, page 32
  20. 20. Investor presentation, 1 Aug 2026, page 8
  21. 21. Investor presentation, 1 Aug 2026, page 15
  22. 22. Investor presentation, 1 Aug 2026, page 9
  23. 23. Investor presentation, 1 Aug 2026, page 34
  24. 24. Annual report, 7 Aug 2026, page 100
  25. 25. Investor presentation, 1 Aug 2026, page 9
  26. 26. Annual report, 7 Aug 2026, page 55
  27. 27. Earnings call, 14 May 2026, page 11
  28. 28. Earnings call, 14 May 2026, page 11
  29. 29. Earnings call, 14 May 2026, page 12
  30. 30. Exchange filing, 31 Aug 2026, page 1
  31. 31. Exchange filing, 31 Aug 2026, page 5
  32. 32. Annual report, 7 Aug 2026, page 266
  33. 33. Annual report, 7 Aug 2026, page 99
  34. 34. Annual report, 7 Aug 2026, page 55
  35. 35. Annual report, 7 Aug 2026, page 101
  36. 36. Annual report, 7 Aug 2026, page 101
  37. 37. Annual report, 7 Aug 2026, page 101

Results

Consolidated; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.Muthoot Finance quarterly results

Income from operations growth, 12 months
+50.7%
Net profit growth, 12 months
+84.8%

Quarter to Jun 2026, against the quarter before

Income from operations
₹8,672 Crdown 6.64%
Net profit
₹2,825 Crdown 16.85%

Income from operations by quarter

₹4,929 CrSep 24₹5,190 CrDec 24₹5,622 CrMar 25₹6,450 CrJun 25₹7,283 CrSep 25₹8,188 CrDec 25₹9,289 CrMar 26₹8,672 CrJun 26
Peak income from operations ₹9,289 Cr, quarter to Mar 2026; lowest ₹4,929 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹1,321 CrSep 24₹1,392 CrDec 24₹1,444 CrMar 25₹1,974 CrJun 25₹2,412 CrSep 25₹2,823 CrDec 25₹3,397 CrMar 26₹2,825 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Income from operations4,9295,1905,6226,4507,2838,1889,2898,672
Net profit1,3211,3921,4441,9742,4122,8233,3972,825
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, FINANCING, which carries all its revenue.

Valuation

Today, against the company's own history.Muthoot Finance PE ratio and valuation

Price to earnings

At or below today's level on 0.4% of 2,472 trading days over the last 10 years.

LowestHighest
Its median13.45Industry median19.17
Price to book

At or below today's level on 24% of 1,952 trading days since Dec 2018.

LowestHighest
Its median3.02Industry median1.08
Dividend yield

At or below today's level on 30% of 2,382 trading days over the last 10 years.

LowestHighest
Its median1.38%Industry median0.77%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+33.6%+98.6%−33.2%0.9%
3 years+49.0%+43.1%+3.2%1.2%
5 years+22.7%+22.7%−1.2%1.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Muthoot Finance shareholding pattern

Shareholding by group

  • Promoters73.35%
  • Foreign institutions9.72%
  • Indian institutions12.55%
  • Individuals and others4.39%
Holder
George Jacob MuthootPromoter10.87%
George ThomasPromoter10.87%
Susan ThomasPromoter7.47%
Sara GeorgePromoter7.23%
George Alexander MuthootPromoter5.89%
Alexander GeorgePromoter5.55%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −1.89 pts, Indian institutions +1.79 pts, mutual funds +1.69 pts.

Mutual fund holdings

205 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 99 of the 124 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 205 funds holding Muthoot Finance

Bought for the first time
1
Bought again
3
Added
76
Cut
48
Held unchanged
75
Sold out
15
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Muthoot Finance insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade · 190 pledge filings of unclear kind
  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Muthoot Finance competitors and peers

Non Banking Financial Company (NBFC), 280 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Muthoot Finance in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Bajaj Finance logoBajaj FinanceBAJFINANCE5,67,80726.174.61+18.8%+18.5%19.2%3.77%9.08%0.66%
Shriram Finance logoShriram FinanceSHRIRAMFIN1,93,79715.281.74+13.8%+28.6%14.7%3.26%9.00%1.31%
Tata Capital logoTata CapitalTATACAP1,27,53721.382.60––14.0%––0.19%
Cholamandalam Investment and Finance Company logoCholamandalam Investment and Finance CompanyCHOLAFIN1,25,96821.904.14+19.6%+29.1%21.3%2.34%6.79%0.14%
SBI Cards and Payment Services logoSBI Cards and Payment ServicesSBICARD50,25219.272.93+5.8%+36.0%16.3%3.29%11.24%0.47%
Piramal Finance logoPiramal FinancePIRAMALFIN44,01823.181.42––6.5%––0.59%
Sundaram Finance logoSundaram FinanceSUNDARMFIN43,35319.532.91+13.7%+15.6%15.8%2.56%4.60%1.03%
HDB Financial Services logoHDB Financial ServicesHDBFS41,89714.151.89––14.3%––0.79%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for NIM and ROA, where the company has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.Muthoot Finance dividend history

Dividend per share, ₹, restated for later splits and bonuses

6Mar 1710Mar 1812Mar 1915Mar 2020Mar 2120Mar 2222Mar 2324Mar 2426Mar 2530Mar 26
Highest ₹30.00 a share, year to Mar 2026.
Ex-dateTypePer share
17 Apr 2026Interim₹30.00
25 Apr 2025Interim₹26.00
31 May 2024Interim₹24.00
18 Apr 2023Interim₹22.00
25 Apr 2022Interim₹20.00
22 Apr 2021Interim₹20.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Muthoot Finance announcements

Muthoot Finance share price by year

Each calendar year to 2025.Muthoot Finance share price history

YearClose at year endChangeHighest closeLowest close
20253,811.70+78.4%3,856.402,017.00
20242,136.15+44.7%2,136.851,274.70
20231,476.30+38.9%1,492.00915.80
20221,063.05−28.9%1,540.40956.20
20211,495.65+23.6%1,712.801,105.85
20201,210.55+59.0%1,362.70508.30
2019761.45+47.6%765.65484.95
2018516.00+8.7%516.00370.50
2017474.65+67.9%518.05285.20
2016282.70+57.4%399.80172.40
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 20262,360.002,395.802,335.002,395.802,373.543,90,99440.2%
23 Oct 20262,399.002,400.602,331.902,373.002,359.376,98,00246.8%
22 Oct 20262,460.002,470.702,412.002,415.002,439.146,77,48047.4%
21 Oct 20262,530.002,530.002,445.902,489.802,481.329,51,19045.0%
19 Oct 20262,612.302,623.402,552.002,566.002,583.713,54,30257.2%
16 Oct 20262,610.002,633.202,574.202,598.302,606.444,11,87754.6%
15 Oct 20262,565.002,604.802,545.002,600.002,587.045,80,97353.1%
14 Oct 20262,620.002,626.002,575.602,580.002,592.284,18,57546.4%
13 Oct 20262,634.002,634.202,583.702,626.002,617.016,61,57858.5%
Prices in ₹ per share as traded, not adjusted.

Company details