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India's largest gold-loan NBFC, lending against pledged household gold jewelry.
India's largest gold-loan NBFC, lending against pledged household gold jewelry.
Earns interest on short-term loans secured by household gold, funded mainly by bank borrowing and bonds. The gold is held at its branches, so a default is covered by auctioning the collateral. The Muthoot family controls the company, and its branch network has historically been strongest in southern India.
In one line: A gold-collateral consumer lender with no direct US peer.
Moat: narrow (scale, brand, distribution). Largest gold-loan branch network in India and strong regional brand trust for gold custody.
Headquarters: Kochi, India · Founded: 1939 · Employees: 31,613
Size Muthoot Finance (MUTHOOTFIN.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $12.2B, the 95th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,869 on 6 Nov 2026.
Performance Over six months the shares fell 20.0%, against -1.2% for the median peer and 0.0% for the India market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 46.8% over the last twelve months (peer median +15.8%); the operating margin is 49.1% (peer median 26.2%).
Valuation It trades at 2.62× book value against a peer median of 1.71× (8th most expensive of 21).
Price implies The share price implies a return on equity of about 32.0%; Muthoot Finance delivers 31.8%, so the price asks more than the business earns today.
Credit Muthoot Finance has 1 bond outstanding ($750M), rated BB+ by the agencies.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹362B | ₹313B | ₹202B | ₹151B | ₹120B |
| Revenue growth | — | +55% | +34% | +27% | — |
| Gross profit | ₹229B | ₹311B | ₹200B | ₹149B | ₹118B |
| EBITDA | ₹179B | ₹258B | ₹158B | ₹119B | ₹94.0B |
| Net income | ₹122B | ₹106B | ₹53.3B | ₹43.2B | ₹36.1B |
| Free cash flow | n/a | ₹118B | ₹70.2B | ₹44.2B | ₹33.0B |
| Capital expenditure | n/a | ₹1.53B | ₹2.17B | ₹2.22B | ₹1.41B |
| Total debt | ₹1.79T | ₹1.51T | ₹988B | ₹677B | ₹555B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Muthoot Finance MUTHOOTFIN.NS | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% |
| Manappuram Finance MANAPPURAM.NS | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% |
| IIFL Finance IIFL.NS | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% |
| State Bank of India SBIN.NS | $99.5B | -7% | +6% | 15% | 1.40× | 20.7% |
| Bajaj Finance BAJFINANCE.NS | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MUTHOOTFIN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.1% | +2.3% | 7th highest of 21 |
| 6-month return | -20.0% | -1.2% | 3rd lowest of 21 |
| Return on equity | 31.8% | 12.5% | 3rd highest of 21 |
| Price / book | 2.62× | 1.71× | 8th most expensive of 21 |
| Trailing P/E | 9.4× | 13.2× | 8th cheapest of 21 |
| ROE the price implies | 32.0% | 15.9% | 7th most demanding of 21 |
| ROE delivered | 31.8% | 12.4% | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Muthoot Finance MUTHOOTFIN.NS | India | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% | 31.8% |
| One 97 Communications PAYTM.NS | India | $12.2B | +50% | +24% | 5% | 6.92× | 47.0% | 5.4% |
| Mitsubishi HC Capital 8593.T | Japan | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% | 7.2% |
| Power Finance PFC.NS | India | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% | n/a |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Tata Capital TATACAP.NS | India | $16.0B | +10% | +18% | 14% | 3.08× | 41.2% | 14.0% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | India | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% | 20.6% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| Kaspi.kz Joint Stock Company Sponsored ADR RegS KSPI | United States | $17.7B | +7% | +39% | 45% | 3.15× | 13.6% | 45.4% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
| Tokyo Century 8439.T | Japan | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% | 11.6% |
| L&T Finance LTF.NS | India | $7.36B | -9% | +17% | 12% | 2.38× | 45.8% | 12.3% |
| Piramal Finance PIRAMALFIN.NS | India | $7.17B | +13% | +71% | 7% | 1.58× | 13.0% | 6.5% |
| BOC Aviation 2588.HK | Hong Kong | $7.09B | -3% | -2% | 12% | 1.01× | 6.2% | 11.8% |
| SOFI SOFI | United States | $21.0B | +3% | +38% | 7% | 1.86× | 27.5% | 7.4% |
| Bajaj Housing Finance BAJAJHFL.NS | India | $7.05B | -9% | +17% | 12% | 2.77× | 41.1% | 12.4% |
| Jiangsu Financial Leasing 600901.SS | China | $6.66B | +12% | +14% | 13% | 1.67× | 5.9% | 13.5% |
| Synchrony Financial SYF | United States | $23.0B | +1% | -2% | 20% | 1.55× | 16.7% | 19.8% |
| Affirm AFRM | United States | $23.1B | +6% | +32% | 45% | 4.19× | 73.6% | 45.1% |
Muthoot Finance has 1 bond outstanding with $750M face value. The agencies rate it BB+.