Gold loan business on track following gold price.
Muthoot Finance, India’s largest NBFC in gold loans by loan portfolio, operates over 6,759 branches nationwide. Besides gold loans, it offers various loans, insurance, money transfer services, and gold coin sales through its subsidiaries.
* We anticipate the loan AUM to grow at a CAGR of 16% over FY24-26E, driven by increasing gold prices, reduced competitive intensity, and a projected decline in unsecured lending options due to ri...
Accumulate Muthoot Finance Ltd For Target Rs. 2,140 By Geojit Financial Services Ltd
Below the Quote on Tribute for Mr. Ratan Tata by Mr. George Alexander Muthoot, MD, Muthoot Finance
The passing of Mr. Ratan Tata is an irreplaceable loss for India. A visionary, a stalwart industrialist, and a compassionate philanthropist, his invaluable contributions not only fueled India’s economic growth but also uplifted society. Our former chairman has always admired the Tata Group’s legacy of trust, excellence, integrity and dependability, values which we a...
Tribute for Mr. Ratan Tata by Mr. George Alexander Muthoot, MD, Muthoot Finance
Moderate sequential AuM growth, however, guidance maintained
Moderate top-line growth: Muthoot Finance consolidated net interest income remained in line with expectation in Q2FY24 was Rs 2,170 Cr, up by 1.3% QoQ/24.9% YoY as yield on loans remained positive while cost of borrowings saw an increase. Interest income increased by 3.8% QoQ/27.1% YoY to Rs 3,505 Cr, however, interest expense grew by 8% YoY/30.8% QoQ to Rs 1,335 Cr.
Pressure on margins: During the quarter, net interest margin...
Buy Muthoot Finance For Target Rs.1,453 - Religare Broking
