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Friday 6 August 2021

Consolidated Loan Assets Under Management increased by

Consolidated Loan Assets Under Management increased by 25% YoY at Rs.58,135crs

Consolidated Profit after Tax increased by 14% YoY at Rs.979crs

Standalone Loan Assets Under Management increased by 27% YoY at Rs.52,614crs

Standalone Profit after tax increased by 16% YoY at Rs.971crs

Management Quote

Commenting on the results Mr. George Jacob Muthoot, Chairman stated, “As second wave of pandemic hit across the country in the first quarter, amidst selective lock downs at state and local level , we took all efforts to open our branches and maintain our services to the extent possible. Thanks to all our 25000+ workforce, we were able to maintain our Consolidated Loan AUM on QoQ basis inspite of the tough environment. However, compared to last year, Loan assets grew by 25% at Rs.58,135crs. Profit after tax for the quarter increased by 14% at Rs.979crs compared to last year.”

Speaking on the occasion Mr. George Alexander Muthoot, Managing Director said, “We consciously decided to go slow in terms of non-gold lending business on account of continued uncertainty and emerging uncertain credit behavior. We are redrawing our strategies in terms of non-gold lending business and we are confident to emerge stronger as environment improves.  On Gold Loan front, we are targeting 15% growth in the remaining 3 quarters.”

Consolidated Results of Muthoot Finance Ltd

Muthoot Finance Ltd Consolidated Loan Assets under management achieved a YoY increase of 25% at Rs. 58,135crs as at Q1 FY22 as against last year of Rs. 46,501crs. During the quarter, Consolidated Loan Assets under management decreased by Rs. 145crs. Consolidated Profit after tax achieved a YOY increase of 14% of Rs. 979crs as against last year of Rs. 858crs. 


Q1 FY22

Q4 FY21

QoQ %

Q1 FY21

YoY %

FY21

Group Branch Network

5,443

5,451

(0.15)%

5,330

2%

5,451

Consolidated Gross Loan Assets of the Group (Rs. In crores)

58,135

58,280

(0.25)%

46,501

25%

58,280

Consolidated Profit of the Group (Rs. In crores)

979

1,024

(4)%

858

14%

3,819

Contribution in the Consolidated Gross Loan Assets of the Group

Muthoot Finance Ltd

52,493

52,394

(0.19)%

40,906

28%

52,394

Subsidiaries

5,642

5,886

(4)%

5,595

1%

5,886

Contribution in the Consolidated Profit of the Group

Muthoot Finance Ltd

969

991

(2)%

835

16%

3,700

Subsidiaries

10

33

(70)%

23

(57)%

119

 Standalone Results of Muthoot Finance Ltd and its subsidiaries

 Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 16%, at Rs. 971crs for Q1FY22 as against Rs.841crs for Q1 FY21.  Loan Assets stood at Rs. 52,614crs compared to Rs. 41,296crs previous year, Y-o-Y growth of 27%. During the quarter, gold loan assets increased by Rs. 142crs.

 Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, has a loan portfolio of Rs. 1705crs as against previous year of Rs. 1979crs. During Q1 FY22, loan portfolio increased by approximately  by Rs. 1crs. Total revenue for Q1 FY22 stood at Rs.46crs as against Rs. 59crs in the previous year. It achieved a profit after tax of Rs.0.48crs in Q1 FY22 as against Rs.0.41crs in the previous year. Its Stage III Asset on Gross Loan Asset as on June 30, 2021 stood at 5.94% and net of Stage 3 ECL provisions stood at 4.12%.

M/s. Belstar Microfinance Limited (BML), an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01% stake, grew its loan portfolio to Rs.3,072crs as against last year of Rs. 2,575crs, a YoY increase of  19%. It achieved a profit after tax of Rs.2crs in Q1 FY22 as against previous year profit after tax of Rs.15crs. Its Stage III Asset on Gross Loan Asset % as on June 30, 2021 stood at  3.67% and net of Stage 3 ECL provisions stood at 1.25%.

 Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs.61crs in Q1 FY22 as against Rs.44crs in the previous year. It generated a Profit after Tax of Rs.4.31crs in Q1 FY22 as against Rs. 4.16crs in the previous year.

 The Sri Lankan subsidiary- Asia Asset Finance PLC(AAF) where Muthoot Finance holds 72.92% stake, increased its loan portfolio to LKR 1429crs as against LKR 1348crs last year, a YoY increase of 6%. During Q1 FY22, loan portfolio increased by LKR 29crs.Total revenue for Q1 FY22 stood at LKR 68crs as against previous year total revenue of LKR 70crs. It generated a Profit after Tax of LKR.0.97 crs in Q1 FY22 as against as against previous year loss of   LKR 1.69 crs , a YoY increase of  157%.

Muthoot Money Ltd (MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is a RBI registered Non- Banking Finance Company engaged mainly in extending loans for Cars, Two wheelers, Commercial Vehicles and Equipments. Recently, As on June 30,2021, its loan portfolio stood at Rs.333crs, as against last year of Rs.497crs. Total revenue for Q1 FY22 stood at Rs. 11 crs.  It incurred  a loss  of Rs 0.11crs in Q1 FY 22 as against previous year loss of  2.47crs. Its Stage III Asset on Gross Loan Asset % as on June 30, 2021 stood at  18.85% and net of Stage 3 ECL provisions stood at 14.28%.

  Financial Highlights (MFIN):

Q1 FY22

Q4 FY21

QoQ %

Q1 FY21

YoY %

 

(Rs.in Crs)

(Rs.in Crs)

Change

(Rs.in Crs)

Change

Total Income

2,715

2,828

(4)%

          2,385

14%

Profit Before Tax

1,300

1,350

(4)%

          1,125

16%

Profit After Tax

971

996

(3)%

             841

16%

Earnings Per Share(Basic) Rs.

24.21

24.81

(2)%

          20.96

16%

Loan Assets

52,614

52,622

(0.02)%

       41,296

27%

Branches

4,625

4,632

(0.15)%

          4,573

1%

 

Particular

Q1 FY22

Q4 FY21

Q1 FY21

Return on Average  Loan assets

7.38%

7.73%

8.10%

Return on Average Equity

25.37%

27.08%

28.16%

Book Value Per Share (Rs.)

383.33

379.70

306.99

 

Particular

Q1 FY22

Q4 FY21

Q1 FY21

Capital Adequacy Ratio

27.32

27.39

26.30

Share Capital & Reserves (Rs. in Crs)

15,384

15,239

12316

 Business Highlights (MFIN):

Particular

Q1 FY22

Q1 FY21

Growth (YoY)

Branch Network

4,625

4,573

1%

Gold Loan Outstanding (Rs. in Cr)

52,069

40,495

29%

Credit Losses (Rs. in Cr)

9

3

200%

% of Credit Losses on Gross Loan Asset Under Management

0.017%

0.007%

143%

Average Gold Loan per Branch (Rs. In Cr)

11.26

8.86

27%

No. of Loan Accounts (in lakh)

85

76

12%

Total Weight of Gold Jewellery pledged (in tonnes)

171

165

4%

Average Loan Ticket Size

61,080

53,426

14%

No. of employees

25,397

25,430

(0.13)%

 Subsidiaries:

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