Shares of Muthoot Finance Ltd. plunged over 14% on Monday with stock trading at Rs 2,794.90 apiece after the gold financer announced Q1FY27 results. The stock opened 7.81% to trade at Rs 2,876 and then tumbled futher.
Gold loan NBFC Muthoot Finance on Saturday reported 38.8% YoY consolidated profit to Rs 2,799 crore in the quarter ended June, compared with Rs 2,016 crore in the year-ago period. The gold financier's total income increased 34.5% to Rs 8,695 crore from Rs 6,466 crore a year earlier.
The board in its meeting also recommended the appointment of Alexander George as the managing director of the company, effective October 1, 2026.
The appointment is subject to approval of the shareholders in the upcoming AGM of the company, it said. The board also cleared the proposal for elevation of K R Bijimon as the Chief Executive Officer of the company with effect from October 1, 2026.
The current managing director, George Alexander Muthoot, will assume the role of executive vice chairman. In his new role, George Alexander Muthoot will continue to guide the organisation, mentor the next generation of leadership and provide strategic direction as the Company enters its next phase of growth, it said.
The board approved an additional investment of Rs 32 crore in Asia Asset Finance PLC under the rights issue being carried out by Asia Asset Finance PLC.
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Muthoot Finance Ltd. Share Price Today
Muthoot Finance Ltd. Share Price Today
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The scrip fell as much as 14.38% to Rs 2,671 apiece on Monday. It pared losses to trade 11.24% lower at Rs 2,768 apiece, as of 9:45 am. This compares to a 0.67% rise in the NSE Nifty 50 Index.
It has risen 7.74% in the last 12 months and has fallen 26.86% year-to-date. Total traded volume so far in the day stood at 1.01 times its 30-day average. The relative strength index was at 76.80.
Out of 26 analysts tracking the company, 14 maintain a 'buy' rating, seven maintain a "hold", and five maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 3437.32 implies an upside of 23.5%
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