2025-10-16 09:55:34 am | Source: Motilal Oswal Financial Services ltd
Neutral Muthoot Finance Ltd for the Target Rs. 3,100 by Motilal Oswal Financial Services Ltd
* Estimate gold AUM growth of ~44% YoY.
* Margin is likely to contract ~50bp YoY to ~11.3%.
* We expect credit costs of ~30bp in 2QFY26.
* Commentaries on gold loan growth and margin guidance are the key monitorables.

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