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ICICI Direct Report
Muthoot Finance Ltd. is a leading gold financier in India with gold loan assets under management of Rs 52613 crore as on June 2021.
It has a large footprint across India with 4625 gold lending branches.
Muthoot Finance also has a presence in other lending segments like housing, microfinance, vehicle finance via its subsidiaries.
Gradual increase in ticket size, increasing working capital requirement is a key driver for growth.
Lower credit cost leading to healthier return on asset, return on equity at up 5%, up 25%, respectively.
Strong asset quality, low leverage, positive asset liability maturities and with sticky customer base levers to aid strong operating performance.
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