Muthoot Finance closes trading window from June 30 till Q1FY26 results

Muthoot Finance has closed its trading window for designated persons and their immediate relatives from the close of business hours on June 30, 2026, until 48 hours after the announcement of its financial results for the quarter ended June 30, 2026. The restriction is enforced to ensure compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the company's adopted code of conduct for the prohibition of insider trading.

The closure prevents designated persons from dealing in the securities of muthoot finance during this period to prevent the misuse of unpublished price-sensitive information. The window will reopen only after the stipulated time following the results declaration.

Key Dates and Restrictions

The following table outlines the critical timeline for the trading window closure:

Event	Date/Time
Trading window closure	June 30, 2026 (close of business hours)
Quarter end	June 30, 2026
Trading window reopens	48 hours after Q1FY26 results announcement

The company stated that the specific date for the Board Meeting to declare the financial results for the quarter ended June 30, 2026, will be intimated in due course. The communication was addressed to the National Stock Exchange of India Ltd, BSE Limited, and NSE IFSC Limited (NSE IX).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.32%	+2.87%	+4.00%	-22.14%	+15.89%	+97.40%

Muthoot Finance Limited has released the transcript of the analyst call conducted on May 14, 2026, regarding the audited standalone and consolidated financial results for Q4 and FY 2026. The company's consolidated Profit After Tax (PAT) nearly doubled, rising 98% year-on-year (YoY) to ₹106,069 Mn, while standalone PAT grew 95% YoY to ₹101,341 Mn. The board has declared a dividend of 300%, or ₹30 per share, marking the 14th consecutive year of dividend distribution since its IPO in 2011.

Analyst Views: Multiple Brokerages Maintain Positive Ratings

Following the strong Q4 results, multiple global brokerages have reaffirmed their positive outlook on Muthoot Finance. The following table summarises the latest analyst recommendations:

Brokerage:	Rating	Target Price	Key Rationale
CLSA:	Outperform	₹4,600	30% Q4 PAT beat; stronger NII; higher LTV-driven AUM growth; FY27 PAT estimates raised 15%
Morgan Stanley:	Overweight	₹4,330	Strong Q4 PAT beat; attractive valuations for a high-quality defensive business; gold loan growth lagged gold prices and peers
Jefferies:	Buy	₹4,350	Strong Q4 profit beat on better margins and yields; healthy AUM growth; 15% EPS CAGR and 25% ROE expected over FY26–28
Bernstein:	Outperform	₹4,500	Strong Q4 on gold price rally; NIM expansion via higher loan yields; rise in Stage 2/3 loans due to regulatory classification changes

Key Financial Highlights at a Glance

The following table summarises the company's key standalone metrics for FY 2026:

Metric:	Value
Net Worth:	₹37,742 Cr
Capital Adequacy Ratio:	20.75%
Active Customers:	6.41 Mn
Earnings Per Share (Basic):	₹252.43
Book Value Per Share:	₹940.05
Return on Equity:	30.63%
Dividend Per Equity Share:	300% at ₹30
Market Capitalisation (Mar 31, 2026):	₹1,268,681 Mn

Consolidated Financial Performance

Muthoot Finance delivered robust consolidated results for FY 2026, with total income rising 54% YoY to ₹312,634 Mn and Profit Before Tax (PBT) growing 97% YoY to ₹143,048 Mn. The group's branch network expanded to 7,568 branches, up from 7,391 in FY 2025. The consolidated Loan AUM of the group grew 49% YoY to ₹1,819,165 Mn.

Metric (₹ in Mn):	FY 2026	FY 2025	YoY (%)
Total Income:	312,634	202,651	54
Finance Cost:	109,996	74,123	48
Impairment of Financial Instruments:	10,261	15,756	(35)
Employee Benefit Expenses:	27,911	23,250	20
Total Expenses:	169,586	129,991	30
Profit Before Tax:	143,048	72,660	97
Profit After Tax:	106,069	53,524	98
EPS – Basic (₹):	263.79	132.84	99
EPS – Diluted (₹):	263.79	132.83	99

On a quarterly basis, consolidated PAT for Q4 FY 2026 stood at ₹33,975 Mn, compared to ₹28,235 Mn in Q3 FY 2026, ₹24,117 Mn in Q2 FY 2026, and ₹19,742 Mn in Q1 FY 2026.

Standalone Financial Performance

On a standalone basis, Muthoot Finance reported total income of ₹275,999 Mn for FY 2026, up 61% YoY. Interest income grew 60% YoY to ₹270,665 Mn. Total expenses rose 39% YoY to ₹139,544 Mn, while PBT surged 93% YoY to ₹136,455 Mn. For Q4 specifically, standalone net profit came in at ₹30.8B versus ₹15.1B in the same period last year, while Q4 standalone revenue stood at ₹81.8B compared to ₹48.54B YoY.

Metric (₹ in Mn):	FY 2026	FY 2025	YoY (%)
Interest Income:	270,665	168,770	60
Other than Interest Income:	5,334	2,581	107
Total Income:	275,999	171,351	61
Finance Cost:	99,410	64,288	55
Employee Benefit Expense:	18,248	14,506	26
Impairment on Financial Instruments:	4,698	7,459	(37)
Total Expenses:	139,544	100,645	39
Profit Before Tax:	136,455	70,706	93
Profit After Tax:	101,341	52,008	95

Standalone PAT for Q4 FY 2026 was ₹30,862 Mn, compared to ₹26,564 Mn in Q3 FY 2026, ₹23,452 Mn in Q2 FY 2026, and ₹20,463 Mn in Q1 FY 2026.

Loan AUM and Asset Quality

Muthoot Finance's standalone Loan AUM grew 50% YoY to ₹1,628,259 Mn as of March 2026, with Gold Loan AUM at ₹1,540,843 Mn. The company held 196 tonnes of gold as security. On an asset quality basis, Q4 Gross Non-Performing Assets (GNPA) rose to 2.35% from 1.58% on a quarter-on-quarter (QoQ) basis, while Net NPA (NNPA) increased to 2.04% from 1.30% QoQ. The Stage III loan assets stood at 2.35% of total loan assets, improving from 3.41% in March 2025, and ECL provision as a percentage of loan assets improved to 1.10% from 1.45%.

Metric:	Q4 FY26	Q3 FY26 (QoQ)	Mar-25
GNPA (%):	2.35%	1.58%	3.41%
NNPA (%):	2.04%	1.30%	—
Standalone Loan AUM (₹ in Mn):	1,628,259	—	1,086,478
Gold Loan AUM (₹ in Mn):	1,540,843	—	1,029,559
Gold Held as Security (Tonnes):	196	—	208
No. of Loan Accounts (Mn):	10.36	—	10.23
No. of Active Customers (Mn):	6.41	—	6.37
ECL Provision as % of Loan Assets:	1.10%	—	1.45%

Key profitability ratios on a standalone basis showed strong improvement, with Net Interest Margin (NIM) rising to 12.75% in FY 2026 from 11.45% in FY 2025, and PAT to average loan assets improving to 7.55% from 5.70%.

Subsidiary Performance and Guidance

Management highlighted stable performance across subsidiaries. Belstar Microfinance ventured into the gold loan business, opening 81 branches, and achieved a collection efficiency of 99.85%. Muthoot Home Finance reported a loan AUM of ₹3,485 Cr, a 17% growth, with a PAT of ₹45 Cr. Muthoot Money shifted focus to gold loans, reporting an AUM of ₹9,794 Cr, a 151% growth, and a PAT of ₹338 Cr. The company provided an initial AUM growth guidance of 15% for the upcoming fiscal year.