Muthoot Fincorp Limited

Muthoot Fincorp Limited is, a non-deposit taking, systemically important NBFC registered with the RBI. The Company is one of the prominent gold loan players in the Indian market. The personal and business loans secured by gold jewellery and ornaments ('Gold loans') offered by the Company are structured to serve the business and personal purposes of individuals who do not have ready or timely access to formal credit or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. For three months period ended June 30, 2023 and for Fiscal 2023, Fiscal 2022 and Fiscal 2021 revenues from the Gold loan business constituted 89.64%, 92.09%, 93.04% and 93.60% of the total income on standalone basis as per Ind AS, respectively. For the three months period ended June 30, 2023 and for the Fiscal 2023, Fiscal 2022 and Fiscal 2021, the gold loan portfolio of the Company earned an interest of Rs 77960.89 lakhs, Rs 3,21,521.00 lakhs, Rs 3,09,629.21 lakhs and Rs 2,91,839.88 lakhs on standalone basis as per Ind AS, respectively. Company has shown good growth and NPAs are also looks in control, rating is AA- / Stable, which will be considered good, coupon rates are good and industry is also showing good growth. So we give SUBSCRIBE rating to this debt offer.

• 1 Thomas John Muthoot
• 2 Thomas George Muthoot
• 3 Thomas Muthoot